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TheCountOfNowhere

The New Banking Crisis

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http://www.telegraph.co.uk/finance/personalfinance/savings/10443768/Rates-slashed-for-a-million-RBSNatWest-savers.html

"Rates slashed for a million RBS/NatWest savers

A cull of savings accounts by RBS and NatWest will reduce rates for the savvy to boost low-paying accounts"

I think we have a new banking crisis. The first crisis was based on the potential debtors not being given credit.

The new crisis is the savers not being paid for the money they lend.

Banks are becoming nothing more than government credit agencies and no longer need the peoples money.

The big question is...what comes next. What happens when the savers decide enough is enough and want their money....can anyone guess ?

Edited by TheCountOfNowhere

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http://www.telegraph...est-savers.html

"Rates slashed for a million RBS/NatWest savers

A cull of savings accounts by RBS and NatWest will reduce rates for the savvy to boost low-paying accounts"

I think we have a new banking crisis. The first crisis was based on the potential debtors not being given credit.

The new crisis is the savers not being paid for the money they lend.

Banks are becoming nothing more than government credit agencies and no longer need the peoples money.

The big question is...what comes next. What happens when the savers decide enough is enough and want their money....can anyone guess ?

Indeed, untold riches can be gleaned without US....QE pays for all their losses, and their profits...they dont need US or the economy at all.

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Indeed, untold riches can be gleaned without US....QE pays for all their losses, and their profits...they dont need US or the economy at all.

That's the public sector for you. :lol:

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Banks are under pressure to clean up their books of "zombie" accounts shut to new customers. The Financial Conduct Authority is currently investigating the savings market and is understood to be concerned about the practice of keeping customers on very low interest rates.

Same old stories. They were supposed to sort that out in the 80s then the 90s and during the noughties.

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Everything has become short-term.....shorter and shorter, now it is no longer live/plan for the next 25 years or ten years or even five years, not even the next quarter or week or day but it is now live for the moment...pay as you go or earn and spend as you go......our countries future needs such as transport or energy needs have been ignored, our housing needs have been ignored....we can't even save for a pension a car or deposit for a home because the cost of living, increasing costs, devaluation of currency makes the hard earned pound in your pocket earned today to be worth pennies tomorrow.......so only alternative they want it to be is borrow or die. ;)

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Everything has become short-term.....shorter and shorter, now it is no longer live/plan for the next 25 years or ten years or even five years, not even the next quarter or week or day but it is now live for the moment...pay as you go or earn and spend as you go......our countries future needs such as transport or energy needs have been ignored, our housing needs have been ignored....we can't even save for a pension a car or deposit for a home because the cost of living, increasing costs, devaluation of currency makes the hard earned pound in your pocket earned today to be worth pennies tomorrow.......so only alternative they want it to be is borrow or die. ;)

Or leave.

I ask myself...do I really want to live in a country where this verdict is possible:

"http://news.sky.com/story/1167957/spy-in-bag-mi6-man-probably-locked-himself-in"

"MI6 agent Gareth Williams probably died after locking himself inside his own holdall, a fresh police review of the case has found."

If you did a poll of the general public as to whether they believe this verdict what do you think the result would be ?

Edited by TheCountOfNowhere

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No I am not leaving or borrowing and spending...I will live within my means and hope the country has the sense to think carefully about its future needs past the next general election or bonus paying quarter. ;)

That might happen, if we have all out collapse, but until then, I'd ready my plans to leave.

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http://www.telegraph...est-savers.html

"Rates slashed for a million RBS/NatWest savers

A cull of savings accounts by RBS and NatWest will reduce rates for the savvy to boost low-paying accounts"

I think we have a new banking crisis. The first crisis was based on the potential debtors not being given credit.

The new crisis is the savers not being paid for the money they lend.

Banks are becoming nothing more than government credit agencies and no longer need the peoples money.

The big question is...what comes next. What happens when the savers decide enough is enough and want their money....can anyone guess ?

What happens? You do what they want you to do - take it out and spend it to kick start the economy or move it into foreign currency which contributes to the debasement of the GBP to improve our export competitiveness and kick start the economy.

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What happens? You do what they want you to do - take it out and spend it to kick start the economy or move it into foreign currency which contributes to the debasement of the GBP to improve our export competitiveness and kick start the economy.

Let everyone else take it out and spend and when the country runs out of idiots and prices really correct you are in a strong buying position ( or going mental cause the banks shut down and refuse to pay you back ).

Edited by TheCountOfNowhere

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Let everyone else take it out and spend and when the country runs out of idiots and prices really correct you are in a strong buying position ( or going mental cause the banks shut down and refuse to pay you back ).

It's October 1999, or July 2007. Just sit tight in cash waiting for the shorting opportunities to present themselves. :)

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It's October 1999, or July 2007. Just sit tight in cash waiting for the shorting opportunities to present themselves. :)

You pays your money....

It's pretty evident the system is broken.

The best thing they can do to help fix it is stop supporting the broken system. :ph34r:

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Or leave.

I ask myself...do I really want to live in a country where this verdict is possible:

"http://news.sky.com/story/1167957/spy-in-bag-mi6-man-probably-locked-himself-in"

"MI6 agent Gareth Williams probably died after locking himself inside his own holdall, a fresh police review of the case has found."

If you did a poll of the general public as to whether they believe this verdict what do you think the result would be ?

Thanks for the link, I was wondering the other day what happened with that case.

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If you did a poll of the general public as to whether they believe this verdict what do you think the result would be ?

I sort-of believe it because it's so unbelievable.

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