No Deal Brexit and Savings

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Comments

  • dividendhero
    dividendhero Posts: 2,417 Forumite
    Interesting piece in current Private Eye, gist of the story is that some of the hard Brexit brigade are indeed looking to crash the UK economy in order to profit from it. They've also got ties to Russia.

    Scary part is that nobody's surprised by any of this and we all know that no action will be taken :(
  • schiff
    schiff Posts: 20,099 Forumite
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    Power and money run pretty much everything in life. Can't see it ever changing.
  • sparkey1
    sparkey1 Posts: 444 Forumite
    First Post
    No, keep your money in the UK where you can access it.

    To move into gold is speculation, could lose you money, will cost you, fees and of course you wont earn interest on it.

    I saw mention of Euros earlier in thuis thread. Again, a no deal Brexit is worse for for the Euro, so why would you want to see the euro fall against the £ and lose more money.

    If the £ drops the BOE could raise interest rates but that is unlikely as they didn't previously. However if you were concerned about that, use your savings to pay down debt.
  • Zero_Gravitas
    Zero_Gravitas Posts: 583 Forumite
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    IanManc wrote: »
    I can admit that I'm wrong when I am wrong, but in this instance I'm right.

    Just because someone disagrees with you and your opinion doesn't make them wrong.

    And I'm quite sure that Somerset will continue to make plenty of money from their UK domiciled funds as well as the ones they've always had outside the UK, including their current one in Ireland and the new one they're opening there.

    I saw this and I thought of you :)

    https://www.huffingtonpost.co.uk/entry/jacob-rees-mogg-will-flee-the-country-if-conservative-party-abandons-brexit_uk_59d3a18fe4b048a443255014
  • masonic
    masonic Posts: 23,262 Forumite
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    Zero_Gravitas wrote: »
    I saw this and I thought of you :)

    https://www.huffingtonpost.co.uk/entry/jacob-rees-mogg-will-flee-the-country-if-conservative-party-abandons-brexit_uk_59d3a18fe4b048a443255014

    :rotfl: does he promise?
  • Glen_Clark
    Glen_Clark Posts: 4,397 Forumite
    sparkey1 wrote: »
    a no deal Brexit is worse for for the Euro,
    How do you work that one out when the GDP of the Euro countries is about 7 times that of the UK?
    (Did it came from the same source as the one that told us leaving the EU would give us an extra £350 million a week to spend on the NHS :rotfl: )
    “It is difficult to get a man to understand something, when his salary depends on his not understanding it.” --Upton Sinclair
  • dividendhero
    dividendhero Posts: 2,417 Forumite
    Zero_Gravitas wrote: »
    I saw this and I thought of you :)

    https://www.huffingtonpost.co.uk/entry/jacob-rees-mogg-will-flee-the-country-if-conservative-party-abandons-brexit_uk_59d3a18fe4b048a443255014

    Presumably Rees Mogg is wealthy enough to buy a visa for just about any country in the world, this is in stark contrast to 99% of the UK population who'll soon lose Freedom to settle in 27 EU countries
  • Glen_Clark
    Glen_Clark Posts: 4,397 Forumite
    dividendhero wrote: »
    Presumably Rees Mogg is wealthy enough to buy a visa for just about any country in the world, this is in stark contrast to 99% of the UK population who'll soon lose Freedom to settle in 27 EU countries
    And as long as we leave the EU so they avoid an EU wide tax treaty, he can domicile in one of Her Majesty's Tax Havens and avoid paying tax. Like the £billionaire 'newspaper' owners telling us to vote for Brexit.
    “It is difficult to get a man to understand something, when his salary depends on his not understanding it.” --Upton Sinclair
  • Malthusian
    Malthusian Posts: 10,934 Forumite
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    dividendhero wrote: »
    Presumably Rees Mogg is wealthy enough to buy a visa for just about any country in the world, this is in stark contrast to 99% of the UK population who'll soon lose Freedom to settle in 27 EU countries

    Because 99% of the population were constantly doing that before, flitting between Talinn and Toulouse, emailing the office on their laptop while sipping macchiatos and conversing with the locals in six languages. Janice who works on a production line in Sunderland and takes the bus home doesn't give a crap that you might have to spend an hour of your free time applying for a visa, bad luck.

    Every single person who actually has the means to live that lifestyle will still be able to. We already needed a passport to visit any other country in the EU (unlike most Europeans), nothing significant will change.
  • dividendhero
    dividendhero Posts: 2,417 Forumite
    edited 2 August 2018 at 9:29PM
    Malthusian wrote: »
    Janice who works on a production line in Sunderland and takes the bus home doesn't give a crap that you might have to spend an hour of your free time applying for a visa, bad luck.

    And likewise if Janice ends up on the dole after her factory moves from Sunderland to the EU or has to put in 60 hour weeks thanks to loss of employee rights.... I won't give a crap about her plight...
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