JOliver

It's not Mad Max its Children of Men you should be afraid of Russia defaulted on it's bond as recent as in 1998, and yet they did not have bikers shooting each other on the roads (ok a few ugly things happen but far from mad max). It's just economy which goes up and down, sometimes really high and really down, but should not necessarily result in end of the World.

True, but it's the way they handle the lay-offs that make it worse. Would prefer US-style where you come to work on day, get a box to clear your desk and off you go in no time. If you want to do it slowly tell who's going in 6 weeks so at least they can look for other job and the rest can do some work.

What can I say... speechless really.

What f@ckwit decided to run this on Friday before the weekend? And not even telling who's going so everyone suffers? I think this is the first lesson they teach you at any management school or course or even a management for dummies book but clearly this company is run by morons and deserves to go down (sad for the staff though).

Sorry to interrupt your high-brow discussion, but... If we lived in exporting/self-sufficient or isolated country we'd have deflation as it all points to it - unemployment, bank losses etc.. But as we depend on imports of nearly everything other countries don't care if we have unemployment and consumers can not pay the price. Can't buy a new plazma - don't buy. When pound was strong we enjoyed "cheap" cars, TVs and fresh SA strawberries (" " because we were ripped off by importers/retailers/vat man etc anyway). Now when it will be toast imported goods WILL be more (even more) expensive, even if no one buys them at all. Millions of people in 3rd world countries can't afford new plazmas, does not make the price any cheaper. Welcome to a new reality. I think Iceland comparison is absolutely valid here. At least they have enough fish to survive.... All other argument about money, broad or narrow and if it's money at all won't matter. Just ask Mr. Mugabe if he issues broad or narrow money - probably he does not even know. All he (and his new follower certain Dr. Gordon) know is that they MUST print more and so they will.

I have to agree with this. Iceland we are, only bigger so it will take more time to fall.

Don't underestimate the greed of Barrats & Co. They'll build and build and build and import more builders if they can't build fast enough

I'm just a newbe here so thought inflation has something to do with money supply? Also there are plenty of countries with huge inflation atm regardless of falling oil prices. And I'm not talking Zimbabwe. That's a genuine question, not a wind up.

Well it just happens as we speak (ie limits not runs). Check other posts as well.

OK here's a link for you Mr W@nker. http://www.ybs.co.uk/savings/withdrawal_limits.jsp OK it's £1000/week for agencies only, £5000/week for own branches. Gonna pay your bet now?

Now then, I've got a very reliable (my better half) source who happen to work there. Shame can't attach her here so you'll have to wait for a link. What are your arguments, if any? That it never happened before? Happened many times in different countries. Oh I forgot UK's different and immune from financial disasters.

I've posted this at 10 am today as it's major development IMO (shame it was moved to ISA section). Just to repeat, "other" BS limiting withdrawals to £500/day, £1000/week. It's not publicly announced yet so no link. Clearly they already experience or expect a shortage of cash. Make of it what you will.

16 hours Can I have a pound for that?

Not an idle thought. We can create a Yahoo (or similar) invitation only group just in case and everyone who wants to stay in tough if site is down can register there.

Hope you're right but can't think of the reason to make such announcement if they do not plan to do so. Not the best time for jokes is it?

Call me a tinfoil hatter but just wihdrawn £500 and will take some more tomorrow. Just in case you know.

I tried to post it as a new topic but guess it's not been approved so will post it here as seem appropriate for original thread title. Mrs. JOliver who’s working for smaller building society just rang that they limit cash withdrawals to £1000/week from November. The rest is my thoughts, feel free to shoot me dead. It can not just one BS decision as you’d simply transfer all funds to another bank and cash it. So I presume it’s a resolution from the top. I was fully in a deflation camp as it seemed logical but it seems that they are going to issue as much money as they want so a gap between cash and electronic money value will appear. Memories of the late Soviet Union come back where cash was valued some 20%-30% more than electronic money as Gvt was paying left right and centre with money they did not have or even planned to have. Remember that question those 2 clown did not bother answering “where the money are coming from” – well it’s clear now they come from thing air. Gvt has f00k all in its coffers while spending like there’s no tomorrow, and it’ll only increase. A certain Olympic games which we so needed are in just 3 years and nothing has been built so far. That will be a nice icing on a cake, or Feast in Time of Plague – as you like. For Soviet Union it resulted in massive inflation and currency devaluation (from RUR 0,60/$ to RUR 6000/$). What will be the result for the UK?

Building society limits cash withdrawals to £1000/week Mrs. JOliver who’s working for smaller building society just informed me that they limit cash withdrawals to £1000/week from November. The rest is my thoughts, feel free to shoot me dead. It can not just one BS decision as you’d simply transfer all funds to another bank and cash it. So I presume it’s a resolution from the top. I was fully in a deflation camp as it seemed logical but it seems that they are going to issue as much money as they want so a gap between cash and electronic money value will appear. Memories of the late Soviet Union come back where cash was valued some 20%-30% more than electronic money as Gvt was paying left right and centre with money they did not have or even planned to have. Remember that question those 2 clown did not bother answering “where the money are coming from” – well it’s clear now they come from thing air. Gvt has f00k all in its coffers while spending like there’s no tomorrow, and it’ll only increase. A certain Olympic games which we so needed are in just 3 years and nothing has been built so far. That will be a nice icing on a cake, or Feast in Time of Plague – as you like. For Soviet Union it resulted in massive inflation and currency devaluation (from RUR 0,60/$ to RUR 6000/$). What will be the result for the UK?

I've seen some made-up stories in the past few weeks but this just blows them off. FFS, a bill from 1927 and magazines from 70s? Adverts from 50s? All empty bottles? OK shelves may be genuine, the rest is bought at car-boot sale for a few quid. Why anyone in a right mind would make it up is beyond me.

That's true, but then banks won't be able to make billions, or even millions on their "expert" services will they? It's the people that would get all the benefits of isueing the money. So clearly that' not gonna happen. Brown also wants a £500,000 adviser job once he's finished with the economy. Not trying to be cynical, it's just how things are.

100% true. Guaranteed. Just rewind Leeds United saga, as club went bust several time directors only pulled out profit while small suppliers and IR took the hit. No it's B&B (me and you) fcuked as they've lived a dream for a decade and will go on with the massive amounts already in Cayman acounts. The only way the justice can be served is if they end up in prison with every penny they owe tracked down and returned to taxpayers.

Brillian post. Well deserved to be pinned.

Still way to go, if you'd ask me.

And another 20% that directly come from taxes/spending of banking sector, and another 20% that come from those depening on banking... Well you get an idea. Add property companies and their suppliers and what/who is left to pay our salaries/buy products and servies and pay taxes to fund health care and shools?

Do you mean September Nationwide/Halifax figure?