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Everything posted by Methinkshe

  1. The business model adopted by NR has ceased to exist. It doesn't matter what value may or may not be placed on their supposed assets. The point is that as a business it does not have a future. Therefore it is a gonner.
  2. Don't bother with that, just look at the buy price on Goldmoney
  3. Yeah, me too. Would if I could but I can't. But it's interesting watching how one's preditcions come true.
  4. NR no longer have a product to sell - their modus operandi has been scotched. Any so-called assets are dubious and largely irrelevant to the ability of NR to continue trading. They have been doing a trapeze act which worked well until the next catch failed. They are finished.
  5. My small savings are with Nationwide and I'm keeping them there on the basis that because it has remained a Building Society and not converted to a bank, it is more likely to be run according to old-fashioned principles - i.e. lending against deposits not new-fangled derivatives. What does anyone else think?
  6. Fact is, NR don't have a product any more. Doesn't matter how low the share price goes, it will remain a company without a product. Take that back, probably has a good mailing list.
  7. These people don't even understand basic human psychology. Anyone who has kids will know that the quickest way to get a child to DO something is to say, whatever you do, DON'T do it. So, whatever you do, don't panic, is as good as ensuring that panic will be the outcome.
  8. Never take a higher rate than other institutions are offering - it means they are desperate for your cash. I'm with Nationwide on the basis that it is still a Building Society and hopefully is more likely to stick with old fashionoed rules of lending (unlike the BS's turned banks) i.e. lend on deposits. If I am wrong to trust Nationwide above other ex BS's and banks, please will someone better-informed tell me.
  9. Someone shpold email the evidence posted on another thread that NR do indulge in sub-prime lending, contrary to what NR have been saying on all the news channels. I'd do it myself but I don't know how to.
  10. Good call, House of Lords. One of the best things about this website is the volume of obscure bits of information posted by people who know what to look out for. It would be next to impossible for one individual to collect all this info. Thanks to you, H o L and to all those who trawl through various sources and post salient info for the rest of us to share.
  11. Would this hold true for gold jewellery, do you think? It could be a very unpopular move within some of the ethnic minorities in this country (Indian, for instane) where women traditionally hold a lot of their personal wealth in gold jewellery.
  12. Exactly so. Which is why best advice when a recession is looming has traditionally been to pay off as much debt as you possibly can.
  13. I agree. Not all landlords are modern day Rachmans as some would have us believe. I feel very sorry for those who tried BTL because they saw how Gordon (with his gold-plated, taxpayer-funded, inflation-linked pension) set about ruining everyone else's pensions. These poor people who, after all, were only trying to provide for themselves in their old age, will be among the first to sell up as they watch their BTL pensions head in the same direction as their work pensions. At least, those nearing retirement will. Younger ones may opt to sit it out. In any event, not all BTLetters are inherently bad people who deserve what's coming. As silver surfer says, more balance would greatly benefit this forum.
  14. I'm very out of touch with secured loans and second charges but I had always thought that they were offered on fixed interest terms. Is this not the case, or only true of a few?
  15. Don't be too hard on these poeple who end up in debt. Not everyone is feckless, stupid or work-shy. Some people lose their jobs through no fault of their own and have to take a much reduced salary which doesn't cover a mortage taken out in times of plenty. That's often when the debt spiral begins as they pay the mortgage and council tax to keep the roof over their heads and then have to whack the credit card just to buy food. There's going to be a lot more genuine cases once unemployment starts to rise as it inevitably will in a recession. There but for the grace of God go I, is how I feel when I hear of such cases.
  16. Many thanks for taking the time to explain all this - very kind of you. Also for the link to the other thread. Another useful explanation. Much obliged.
  17. So where does the securitisation of debt - turning debt into assets - fit into this scenario? We know that all the banks have dipped their finger into the pie because they've all stopped lending to one another, like they know that we know that you know that they know that there's a pile of crap at the bottom of this trapeze act and we don't want to be the bank/building society that falls into it. These debt-assets are off balance sheet and how can we know that the banks and building societies aren't lending against these and not against deposits? Surely we can't know until such vehicles can no longer be rolled over and have to appear on balance sheets. Isn't it true that the whole lot of them have been borrowing short to lend long, the classic recipe for insolvency? Is it not the case that there is a big shock in store? Again, I'm just asking, because my poor old brain is befuddled! Edit to correct typo
  18. I have to admit that I don't have any figures in front of me. All I have is nagging doubts in the back of my mind such as: savings at an all time low, debt at an all time high, and then I begin to wonder how deposits are covering all this lending, even under the fractional reserve system. Maybe I'm just completely muddled, but something smells like a trawlerman's hold. Please enlighten me if I have got it wrong (I mean that sincerely, 'cos I know it could sound sarcastic, but that really isn't how I mean it) since one of my main reasons for joining HPC (as opposed to being just an onlooker) was to learn from those far more knowledgeable than I, through asking questions. Regards.
  19. I'm not sure that I agree with you. May have been true 30 years ago, even 20, or to be very generous, 10, but not now.
  20. I'm not quite sure what kind of miracle could rescue them, even if one were available. I mean, what would it take? All the crappy cdo's that have been spread abroad to suddenly be re-accepted as triple A so that they could continue with their risky lending?
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