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Whinging Savers


Setantii
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No need to be insulting. All he said is that he is that he's sick of whinging twunts like you.

Who are all these savers that think they deserve free money for sitting on their arses?

:rolleyes:

I expect a return on my savings. This is because the bank, without my express permission, lends my money to other people, at interest. Essentially, I am giving them an unsecured loan so they can invest. You already know this, and you're just being a twit;

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Guest AuntJess
I expect a return on my savings. This is because the bank, without my express permission, lends my money to other people, at interest. Essentially, I am giving them an unsecured loan so they can invest. You already know this, and you're just being a twit;

I think you may be overestimating the knowledge and/or reasoning power of some posters. :rolleyes:

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I have a job but I can't afford the luxury of savings and as far as I'm aware my work collegues are all in a similar position. We earn just enough to put a roof over our heads, pay the bills, put food on the table and buy a few pieces of cheap plastic tat to ammuse the kids.

So when I hear people earning enough to have spare cash to save, who now have their savings protected by the taxpayer (which includes people like me who don't have savings but pay into the system) it grates me no end to hear them crying over their lost interest payments. The banks are bailed out, the savers are bailed out, but people like me pay towards this extortion and have to thank our lucky stars we're still in a job!

I have a job, it`s never made me more than the average wage, but I`ve always saved. Currently my income is about half of what it was a couple of years ago. I might well be better off becoming unemployed, and claiming benefit(s). However, due to the fact that I`ve saved (by not increasing the population - which isn`t compulsory, btw), I wouldn`t be allowed to claim benefits, and won`t need to. So I`m not going to be a burden of the taxpayer. All I ask in return for my actions is to make a little more than inflation on my savings. Not a lot, just a little.

I`m not whinging, and just a bit angry.

Make that "a lot angry".

The idiots who overspent and over borrowed caused this mess, now the idiots who promoted and allowed this to happen are indirectly telling us not to save.

Why can`t we just have "sensible" back ?

Sensible returns for savers.

Sensible lending from banks.

Sensible house prices.

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I expect a return on my savings. This is because the bank, without my express permission, lends my money to other people, at interest. Essentially, I am giving them an unsecured loan so they can invest. You already know this, and you're just being a twit;

What on earth are you talking about...

How can you say that I already know this and then say that you don't grant permission for them to lend it out? What's the guarantee scheme if not a form of security.

You are the twit dude. sorry but them's the facts.

BTW. will hold my hand up as a VI for low rates (currently loving a lifetime tracker at 0.64 above base).

Still don't think I've got a god given right to free cash in exchange for lending my money to fraudsters.

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While trying to promote my new forum www.bankout.co.uk this weekend, which deals with trying to organise people together to get a decent rate of interest and / or punish the banks ,I have found quite a few people who think that savers are some how *lucky* to have a wad of cash. Almost as if its some sort of miracle and didnt involve going with out or working hard.

You have to agree, though, that those who bought a house for £100,000 in 2000, then STR'd in 2007 for £200,000 have only made that money from *luck* rather than any particular financial acumen. And that's what's piqueing the OP, not those who've judiciously put away 15% of their income every month since they were 16.

Heck, we made £30K on an investment of £1000 (for arrangement fees) by sitting on our **** in a house for five years, and we're RUBBISH with money

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Guest AuntJess
i refer you to your earlier post where your 'superior reasoning' led you to reach the erroneous conclusion ('knowledge') that I am another ID for the OP.

if any of you savers want higher returns go to Zopa.

end of.

Nope. Wrong...again. I did not assume you were all the same person, but that you were all schoolkids - mentally or really.

Edited by AuntJess
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Guest AuntJess
What on earth are you talking about...

How can you say that I already know this and then say that you don't grant permission for them to lend it out? What's the guarantee scheme if not a form of security.

You are the twit dude. sorry but them's the facts.

BTW. will hold my hand up as a VI for low rates (currently loving a lifetime tracker at 0.64 above base).

Still don't think I've got a god given right to free cash in exchange for lending my money to fraudsters.

Have you NO financial know-how at all? It isn't FREE money. Those making the most money out of my money are not myself. <_<

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Who are all these savers that think they deserve free money for sitting on their arses?

having savings shows a lack of imagination anyway.

These savers are the ones who just want a little return on their money. These very same people also know that they will fail to qualify for many benefits, should their savings be over a certain threshold. Should they lose their job, they know that they won`t be such a burden on the taxpayer, until their savings have been spent.

Having no savings also shows a lack of imagination. People who could save but won`t save, obviously can`t imagine that they may need a new central heating boiler, new tyres on the car, might want to go on holiday or may need a little bit more than the state pension when they retire.

Oh, and when a saver goes to buy a new TV, they generally pay for it in full, there and then. TV bought, shop makes money and continues to employ sales people. If nobody saves, the TV has to be bought on credit (or doesn`t get sold). What happens when the person taking out the credit loses their job ? Who ends up paying ?

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Problem is guys were all in it together.

If no one wanted to or needed to borrow where would the savers be. The invention of credit allowed the economy to expand and in doing so we all benefited from a higher standard of living than we would otherwise.

It is an unfortunate fact of life that risk exists. Whether it be from a bank failing, a borrower failing to repay a loan, savings being stolen from under your mattress, a stock of goods deteriorating, being struck by lightning, being run over by a bus, falling ill, being eaten by a wild animal, the list is endless.

The point of society is that we share the risks amongst ourselves somehow. It might not be fair to everyone but that's how it is and I don't see how it can ever change. Nor do I want it to. I need the benefits of society, I don't agree with all of them and if I could I would change some. Of course the things I would like to change would be different from the things others would want to change if they could.

That's the whole problem right there. You want the benefits by having other people pay for them.

How about "we" organise it so "we" aren't "all in this together "- so that when you make a bad bet you lose and that hurts no one else?

No one has any savings unless they have lots of hard assets - what they have is a series of worthless promises from known fraudsters.

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If it wasn't for the educated financial racketeers trying to suck the uneducated into an exploitative system that milks them for all they're worth we wouldn't be in this mess. Of course you savers couldn't give a shit as long as you were getting your juicy interest payments. Your just like the bankers, fooking leeches on the back of the average working man.

Think you've been jerkin the gerkin a bit too much this morning sunnyboy.. For your information, and you do need information, the interest payments in British bank accounts has for at least 10 years been less than the real rate of inflation, never at any time has it fallen into the catagory of being juicy. In a true monetary system, savings are the bedrock of financial security, without which no lending would be done, not for business investment, not for mortgages. To think otherwise is up there with Mugabenomics.

Also for your information, the average working man used to save up for a deposit on a house and in fact this was a requirement until a very short few years ago and if that was still an enforced policy of the banks then perhaps we would not have had such massive price rises, in fact we would not have and the average working man would be able to afford a house before the age of 40 or whatever it is now. To believe otherwise you would have to be an 'A' grade soapy watcher who thinks the 'Sun' is the height of financial literacy.

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Think you've been jerkin the gerkin a bit too much this morning sunnyboy.. For your information, and you do need information, the interest payments in British bank accounts has for at least 10 years been less than the real rate of inflation, never at any time has it fallen into the catagory of being juicy.

I think you mean Instant Access accounts, which are the equivalent of stashing it under the mattress. For realistic savers who are actually intending to 'save' as opposed to stopping it cluttering up their house until they need it, many fixed term bonds have been comfortably above cpi.

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As a saver with £100k 'in the bank' (whatever that means now), I can appreciate the OPs point. We are all in it together, I was under no illusions that my money in the bank was going to fund HPI in some form, but I wanted to remain liquid so just left it there. I understand that spending is what makes the economy function, and that common sense does not make for a wealthy society.

I expected the Govt. to guarantee it as they offered to. If there was no guarantee I would have expected higher returns - e.g. getting 7% at Icesave I knew it was a risk, and was fully expecting to not get any money back as I knew they must be doing something risky to offer that return.

In retrospect, I should have spent it all and enjoyed myself rather than saving for somewhere to live, as it's all nonsense really. Expecting to buy for cash was probably a bit idealistic of me, and I can see everyone on this site (bear/bull whatever) is at the mercies of the Govt.

Is a shame to see such vitriol between us when we've surely got a common cause, but not really surprising we're squabbling amongst ourselves now and have lost a bit of direction.

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Think you've been jerkin the gerkin a bit too much this morning sunnyboy.. For your information, and you do need information, the interest payments in British bank accounts has for at least 10 years been less than the real rate of inflation, never at any time has it fallen into the catagory of being juicy. In a true monetary system, savings are the bedrock of financial security, without which no lending would be done, not for business investment, not for mortgages. To think otherwise is up there with Mugabenomics.

Also for your information, the average working man used to save up for a deposit on a house and in fact this was a requirement until a very short few years ago and if that was still an enforced policy of the banks then perhaps we would not have had such massive price rises, in fact we would not have and the average working man would be able to afford a house before the age of 40 or whatever it is now. To believe otherwise you would have to be an 'A' grade soapy watcher who thinks the 'Sun' is the height of financial literacy.

And if the "prudent savers" hadn't accepted worhless promises from sociopaths and had instead bought real stuff and invested directly in production we'd all be better off.

Only people with money can make that decision, the whole thing is savers fault. Why do you think the governments 100% top prioroity is to bail them out?

So they can do the same stupid shite all over again, that's why!

For every mewer theres a saver blissfully unaware what their "savings" is being spent on. That's the savers choice to give the feckless dizzying amounts of money to do nothing produictive with. They really should stfu and accept their loss with good grace.

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Mr Smith you are charged with recklessly saving, storing money in a place known as a BTL landlords feverish dreams, and gaining negligible interest on the money you have punted on the economic equivalent of "Dead Donkey" from the 3:30 at lingfield. You are hereby sentenced to have a crushing depression and hyperinflationary currency crisis.

Fixed.

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Have you NO financial know-how at all? It isn't FREE money. Those making the most money out of my money are not myself. <_<

And you tell me that I lack financial knowhow!

You are very funny.

If you don't like your savings rates go to Zopa. Or put a sign up in your window offering credit to passers by.

If you would like to talk me through your prescription for interest rates and the economy please go ahead. I am listening. I suspect however that your opinion amounts to can we please have higher rates 'cos it would suit me.

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