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Off work yesterday. Spent the day channel hopping. I saw the advert for the FSCS (Link) on three different SKY channels. Not seen it before, maybe I’ve missed a trick or knowing that something is on the horizon are the government putting the message out there to reassure people?

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A government agency to pay compensation when a regulated financial services firm goes insolvent.

Sounds just the ticket, exactly what was needed by customers of equitable life and farepak.

No doubt the compensation is fair and timely and not 20% of 20% of 20% of the loss suffered paid over 20 years.

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Yeah I saw that advert and wondered if something is looming on the horizon.

Personally with most results coming in from comporates showing poor performance and with everything happening this year with fuel, govt job layoffs etc I reckon this years should be a good blood bath.

Indeed, the banks must be taking a haircut right now, thanks to the 'snow' causing such poor high street trading over Xmas.

It's all very well reassuring the masses that their money is safe in the banks, but I'm not sure how that's going to stop people withdrawing their savings so they can afford to buy food and fuel.

Edited by General Congreve

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...and placed straight back in by the retailer.

yeah, but, banks make their money by moving cash...if people arent buying so much, theres less CC fees, indeed, if the retailier goes bust, the bank doesnt get its loans paid, the landlord doesnt get his rent, the suppliers dont get their invoices paid.

This isnt about MONEY as the BoE would insist...its about somebody making something, digging something or growing something....TAT is not important.

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  • 284 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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