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jonesinamillion

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Last weekend I put hefty sum (what I consider hefty anyway!) into Santander S&S ISAs, 50:50 over a balanced fund and a emerging makets fund.

How is or how could all this greece defaulting malarky going to effect...

A - Santander as a bank.

B - Banksin general

C - My investment (short & long term)

Thanks in advance!

PS - I'm still in my cooling off period so could theoretically pull it out, but there's nowt elseto do with it! (I'm already in PMs as much as I dare!)

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A - Santander as a bank.

Trouble in Grece, means people lookoing closer at the rest of the PIIGS.

Santander is one of the largest banks in the world. My guess is that its books stink, but that is being hidden as it is too big to fail...or it is just being hidden.

B - Banksin general

Most of the are like Santander, and if they aren't they will be made that way when the others start folding.

C - My investment (short & long term)

I wouldn't touch that sort of fund with someone else's money, let alone my own.

PS - I'm still in my cooling off period so could theoretically pull it out, but there's nowt elseto do with it! (I'm already in PMs as much as I dare!)

Have you thought about NI inflation linked bonds? The money is tied up for a period though.

Edited by Tiger Woods?

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I wonder if you have not had any sensible answers because the only good ones are flippant? And maybe everyone suspects you already know the answers?

A Santander could go bankrupt

B Banks generally could go bankrupt

C You could lose it all

Of course, that's a worst case scenario (but not impossible given the last few week's developments). If any of us knew what was actually going to happen, we would know whether to buy/short individual stocks or sectors and become overnight millionaires. Either the bail-outs continue and inflation means your bank investments rise in units of fiat currency but fall in terms of money, or the bailouts stop and your investments fall in units of fiat currency and fall in terms of money. Only if TPTB manage to pull off the trick of the millenium can I see investments rising in terms of both currency and money.

You invest your money and you take your chances...

[by "money", I am referring to any barterable item that is not fiat currency. Gold, books, jewellery, potatoes, cross-bows, drums of oil, wood, 33rpm vinyl...]

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I wonder if you have not had any sensible answers because the only good ones are flippant? And maybe everyone suspects you already know the answers?

Oops, sorry Tiger. Your reply wasn't there when I wrote mine.

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If I understand it correctly, the bank guarantee scheme means that up to £85k (or £170k for joint holdings) is safe as a total amount lodged with any UK bank covered by the scheme. Beware! it is not £85k per account, but £85k total.

So providing you do not have more than this amount with any individual institution (and in some cases including its subsidiaries like A&L), you are covered if the bank fails and Osborne Osborne will make good your losses. Eventually.

This of course is unless financial armagheddon is coming anyway, in which case it doesn't matter, money will be no use and all you need is beans, bottled water and a gun.

The NS&I Index Linked certificate is okay for up to £15k each and you can get your money out before the end of the 5 year term, but you lose interest in the first year.

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  • 312 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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