Second Financial Collapse Starting?
22 September 2011, 07:25 PM
#33
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Today felt closer to the edge than any previous day. A sense of impending doom. They're trying so hard to prevent Greece defaulting, thereby making the fallout that much harder to contain when it does inevitably happen. If Spain gets dragged into the mire, then the Euro could be toast. We cannot go on like this.
22 September 2011, 07:49 PM
#34
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Thing is ... the world knows that Greece is doomed, it HAS to default ... there is no option.
And when it does it will be a part payment ... like 10p in the £ ... and, of course, Spain/Ireland/Portugal/Italy will want to do the same!!
Slight snag is that someone has to pay .... and who will stand up and do that? Germany will - of course, the UK will step in as we will have to ..... it's going to be sh*t!
And when it does it will be a part payment ... like 10p in the £ ... and, of course, Spain/Ireland/Portugal/Italy will want to do the same!!
Slight snag is that someone has to pay .... and who will stand up and do that? Germany will - of course, the UK will step in as we will have to ..... it's going to be sh*t!
22 September 2011, 09:39 PM
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22 September 2011, 09:54 PM
#44
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Reading that Greece have stepped up their cuts program .... but now there are more 24hour strikes. The Greeks just won't accept that they have had an easy ride since the Euro and they have to re-pay their borrowings.
The US is pumping $400billion into their system .... you simply cannot continue to do this, just delaying payback day.
The UK is about to pump £billions into our economy .... again, that will show weakness and encourage inflation and higher interest rates down the line, and MORE cuts in the future.
The Eurozone as a whole is in big trouble - Germany cannot bail everyone out ... there WILL be a Greek default and then the rest will follow. Greece will agree to repay 10p in every £ (or whatever the currency is then) ... Portugal, Ireland, Spain and others will want some of THAT! They will all default!
I cannot see that we will get through this without some massive correction in the economies .... closer to home, personal debt is huge - based on that house of cards, the housing market! I can see that there will be no mortgages available very soon and the only buyers will be cash buyers ..... and they will be looking for cut price properties to rent to those who cannot afford to own.
It's going to be a rough ride from here on in ........ 10 years before it resumes to anything like it was. And never will we see the years of plenty as we have had in the past.
The US is pumping $400billion into their system .... you simply cannot continue to do this, just delaying payback day.
The UK is about to pump £billions into our economy .... again, that will show weakness and encourage inflation and higher interest rates down the line, and MORE cuts in the future.
The Eurozone as a whole is in big trouble - Germany cannot bail everyone out ... there WILL be a Greek default and then the rest will follow. Greece will agree to repay 10p in every £ (or whatever the currency is then) ... Portugal, Ireland, Spain and others will want some of THAT! They will all default!
I cannot see that we will get through this without some massive correction in the economies .... closer to home, personal debt is huge - based on that house of cards, the housing market! I can see that there will be no mortgages available very soon and the only buyers will be cash buyers ..... and they will be looking for cut price properties to rent to those who cannot afford to own.
It's going to be a rough ride from here on in ........ 10 years before it resumes to anything like it was. And never will we see the years of plenty as we have had in the past.
22 September 2011, 10:08 PM
#45
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Today felt closer to the edge than any previous day. A sense of impending doom. They're trying so hard to prevent Greece defaulting, thereby making the fallout that much harder to contain when it does inevitably happen. If Spain gets dragged into the mire, then the Euro could be toast. We cannot go on like this.
22 September 2011, 10:35 PM
#48
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Never before have I had money ... now that I do, it's a sodding handicap!!
22 September 2011, 10:51 PM
#49
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Here's a list of institutions covered, are you saying you can put 85k in each one?
- AA
- Abbey
- AK Bank
- Aldermore
- Alliance and Leicester
- Allied Irish
- Anglo Irish
- Asda
- Bank of Baroda
- Bank of Cyprus
- Bank of Ireland UK
- Bank of Scotland
- Barclays
- Barnsley Building Society
- Beverley BS
- Birmingham Midshires
- BMW Savings
- Bradford and Bingley
- Britannia
- Buckinghamshire Building Society
- Butterfield Bank
- Cahoot
- Cambridge Building Society
- Capital One/Castle Money
- Cater Allen
- Chelsea Building Society
- Cheltenham and Gloucester
- Chesham Building Society
- Cheshire Building Society
- Citibank
- Close Brothers
- Clydesdale Bank
- Coutts
- Coventry Building Society
- Credit Unions
- Cumberland Building Society
- Darlington Building Society
- Derbyshire Building Society
- Direct Line
- Dudley BS
- Dunbar Bank
- Dunfermline Building Society
- Ecology Building Society
- Egg
- First Direct
- First Trust
- Firstsave
- Furness Building Society
- Halifax
- Hampshire Trust
- Hanley Building Society
- Harpenden Building Society
- Heritable Bank
- Hinkley and Rugby Building Society
- HSBC
- Icesave
- ICICI
- ING Direct
- Intelligent Finance
- Investec
- Ipswich Building Society
- Julian Hodge Bank
- Kaupthing Edge
- Kent Reliance Building Society
- Leeds Building Society
- Leek Building Society
- Liverpool Victoria
- Lloyds TSB
- London Scottish Bank
- Loughborough Building Society
- Manchester Building Society
- Mansfield Building Society
- Market Harborough Building Society
- Marks and Spencer
- Marsden Building Society
- Melton Mowbray Building Society
- Monmouthshire Building Society
- National Counties Building Society
- Nationwide
- Natwest (separate to RBS)
- Newbury Building Society
- Newcastle Building Society
- Northern Bank
- Northern Rock
- Norwich and Peterborough Building Societ
- Nottingham Building Society
- NS and I
- Penrith BS
- Post Office
- Principality Building Society
- Progressive Building Society
- Punjab National Bank
- Raphaels Bank
- Rothschild
- Royal Bank of Scotland (RBS)
- Ruffler Bank
- Saffron Building Society
- Saga
- Sainsburys
- Santander
- Scarborough Building Society
- Scottish Building Society
- Scottish Widows Bank
- Secure Trust Bank
- Skipton Building Society
- Smile
- Standard Life
- State Bank of India
- Stroud and Swindon Building Society
- Teachers Building Society
- Tesco
- The Co-op
- Tipton & Coseley BS
- Triodos
- Ulster Bank
- United National Bank
- United Trust
- Vernon BS
- Virgin Money
- Wesleyan Bank
- West Bromwich
- Whiteaway Laidlaw
- Woolwich
- Yorkshire Bank
- Yorkshire Building Society
22 September 2011, 10:54 PM
#50
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Are you trying to say that ALL those are independant of each other?
For example - Coventry BS are also now Stroud & Swindon ... I had accounts with both and had to empty one when they merged.
Also, I'm not going to put my money anywhere not paying 3% ... which, I suppose limits it a bit further.
For example - Coventry BS are also now Stroud & Swindon ... I had accounts with both and had to empty one when they merged.
Also, I'm not going to put my money anywhere not paying 3% ... which, I suppose limits it a bit further.
Last edited by pslewis; 22 September 2011 at 10:55 PM.
22 September 2011, 11:07 PM
#52
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Pete - have you put any of your money into NS&I?
I understand they might have stopped it now, but they were paying inflation rate (not sure if it was CPI or RPI) + 0.5% not long ago.
I understand they might have stopped it now, but they were paying inflation rate (not sure if it was CPI or RPI) + 0.5% not long ago.
23 September 2011, 09:04 AM
#55
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Are you trying to say that ALL those are independant of each other?
For example - Coventry BS are also now Stroud & Swindon ... I had accounts with both and had to empty one when they merged.
Also, I'm not going to put my money anywhere not paying 3% ... which, I suppose limits it a bit further.
For example - Coventry BS are also now Stroud & Swindon ... I had accounts with both and had to empty one when they merged.
Also, I'm not going to put my money anywhere not paying 3% ... which, I suppose limits it a bit further.
23 September 2011, 09:28 AM
#56
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In the end they messed me about so much I told them to give me all my money back and some compensation for my hassle, which they did ...... I think I plonked it in the Post Office - which is the Bank of Ireland (so, I shall have to move that too, as Ireland are going down the tubes with Greece!).
It's an utter damned mess trying to safeguard your investments!!
My shares have taken such a hammering that it's pointless selling ... it used to be so, so, simple!
23 September 2011, 09:56 AM
#59
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Ireland going down the tubes. FFS Pete do you know anything about this other than what Robert Peston said on the News a few months ago? Ireland are now NOT in the spotlight, i refuse to waste finger energy typing out the reasons for you.