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Realistbear

" Renewed N.rock Deposits Guaranteed"

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http://uk.news.yahoo.com/rtrs/20070921/tts...-a8bf950_2.html

Reuters
-
11 minutes ago
LONDON (Reuters) - The Treasury said on Friday its guarantee to depositors of mortgage lender Northern Rock covers renewals of existing uncollateralized deposits and wholesale borrowing and retail bonds.
"In response to questions about the operation of the treasury guarantee arrangements announced on September 20, the Treasury confirms that renewals with Northern Rock Plc of existing uncollateralized deposits and wholesale borrowing and retail bonds (in each case up to the same maturity) are covered for the term of the renewal," the Treasury said in a statement.

Quick sand anyone?

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If I had a million pounds and took it out of NR I would put it straight back in. Its the safest place in Britain now for such a large sum in a single account. If I had a million pounds. :(

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If I had a million pounds and took it out of NR I would put it straight back in. Its the safest place in Britain now for such a large sum in a single account. If I had a million pounds. :(

Blessed is the man whose strength is in you; in whose heart are your ways

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Guest KingCharles1st

Yeah- and if you had a million quid and were about to put it into N.R. for the first time....

I give up wit hthis country and the way it is now run. Nobody in charge seems to want to go beyond a smoke and mirrors trick. If the people in charge no longer give a flyingfurc then why should I.

If somebody has info on how I can get some dodgy Eastern European gang to set me up with a fake credit card mewed against a crinkly millionaire who invests with N.R.- just let me know. And if it has a pretty picture on it that says "For every pound spent- another pound will be printed sent to- Hedge funds in need-" then so much the better...

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Yeah- and if you had a million quid and were about to put it into N.R. for the first time....

Now that would be complete madness.

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Is the banking system so weak that the goverment have had to effectively nationalise it? Probably.

http://www.telegraph.co.uk/money/main.jhtm.../cnnrock121.xml

Northern Rock effectively 'nationalised' by state guarantee
By Philip Aldrick and Iain Dey
Last Updated: 8:29am BST 21/09/2007
Northern Rock has effectively been nationalised by the Treasury's unprecedented guarantee this week to protect all deposits at the beleaguered mortgage lender.

Could Brown be behind a master plan to re-nationalise UK Plc through stealth? We have seen how he has increasd taxes by stealth--why not the power of The State through banking control? It may be the only way he can sustain the miracle economy of HPI-MEW-BTL. We are in an effective one-party state now remember with buffoons (Tories) and loons (Liblabs or whatever they are called these days) in opposition.

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'Kin 'ell.

So effectively the BoE will now accept any kind of junk mortgage bond from any bank at face value i.e. potentially well over and above what the market will pay for it. This is going to have to end up in inflation or a run on the pound or both.

Time to get those emmigration forms done methinks.

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'Kin 'ell.

So effectively the BoE will now accept any kind of junk mortgage bond from any bank at face value i.e. potentially well over and above what the market will pay for it. This is going to have to end up in inflation or a run on the pound or both.

Time to get those emmigration forms done methinks.

IMO the entire UK banking system is insolvent to such an extent that the Government have no choice but to step in and effectively nationalise the entire system with guarantees. Think of the consequences of not getting involved with the private banking system:

1. Run on banks spreads.

2. Run on sterling as people bank overseas in other currencies

3. Collapse in miracle economy and the effective end of Brown's career.

By nationalising the system Brown has bought himself time. Time to try to reverse miracle economics after 10 years of inflating a credit bubble that has begun to bring the entire banking system to its knees.

How much time? Time will tell, it always does. IMO, it will not see the Winter through.

Edited by Realistbear

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Guest KingCharles1st
IMO the entire UK banking system is insolvent to such an extent that the Government have no choice but to step in and effectively nationalise the entire system with guarantees. Think of the consequences of not getting involved with the private banking system:

1. Run on banks spreads.

2. Run on sterling as people bank overseas in other currencies

3. Collapse in miracle economy and the effective end of Brown's career.

By nationalising the system Brown has bought himself time. Time to try to reverse miracle economics after 10 years of inflating a credit bubble that has begun to bring the entire banking system to its knees.

How much time? Time will tell, it always does. IMO, it will not see the Winter through.

But WHY

aren't the Tories up on their Major-esque soapboxes ripping this moron to bloody pieces and throwing the tortured scraps to the baying hounds that are the British press and hungry public....?

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IMO the government has only given the guarantee because they feel they will not have to pay out. Should there be another run on Northern Rock then the guarantee will be exposed for the sham it is.

Don't believe me, think back, this is the same government that said Sadam had WMD's.

My advise find all the Sheeple you know and panic them again about NR’s future, dance puppets dance :lol:

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IMO the government has only given the guarantee because they feel they will not have to pay out. Should there be another run on Northern Rock then the guarantee will be exposed for the sham it is.

Don't believe me, think back, this is the same government that said Sadam had WMD's.

My advise find all the Sheeple you know and panic them again about NR’s future, dance puppets dance :lol:

Actually it was Saddam that claimed he had WMDs. He used to take great pride in his "Babylonaina Empire" parades with lots of medium range rockets on the backs of transporters showing the world how powerful his weapons were. Why did he play cat and mouse with the UN and the weapons inspectors? Because they might have discovered that his rockets were just shells with conventional explosives rather than anything more toxic. In fact I remember seeing footage of all these medium ranged rockets being broken open by Coalition forces and seeing that none contained nukes. Saddam fell because of pride. Its brings them all down in the end.

I really don;t think we have the same government. Whatever anyone thought of TB we now have the miracle maker of TB's goverment in the control seat and it is the power to control our banks that is the new reality. A financial coup has occured an no one noticed it--well, a few did.

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Actually it was Saddam that claimed he had WMDs. He used to take great pride in his "Babylonaina Empire" parades with lots of medium range rockets on the backs of transporters showing the world how powerful his weapons were. Why did he play cat and mouse with the UN and the weapons inspectors? Because they might have discovered that his rockets were just shells with conventional explosives rather than anything more toxic. In fact I remember seeing footage of all these medium ranged rockets being broken open by Coalition forces and seeing that none contained nukes. Saddam fell because of pride. Its brings them all down in the end.

I really don;t think we have the same government. Whatever anyone thought of TB we now have the miracle maker of TB's goverment in the control seat and it is the power to control our banks that is the new reality. A financial coup has occured an no one noticed it--well, a few did.

He may think he can control the banks, but his arrogance will be his downfall. A history graduate that went on record saying he was never that good at maths in total control of our countries financial direction..... am I the only one worried by this.

PS prediction for next sub prime lender to stop lending: Rooftop

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IMO the entire UK banking system is insolvent to such an extent that the Government have no choice but to step in and effectively nationalise the entire system with guarantees. Think of the consequences of not getting involved with the private banking system:

1. Run on banks spreads.

2. Run on sterling as people bank overseas in other currencies

3. Collapse in miracle economy and the effective end of Brown's career.

By nationalising the system Brown has bought himself time. Time to try to reverse miracle economics after 10 years of inflating a credit bubble that has begun to bring the entire banking system to its knees.

How much time? Time will tell, it always does. IMO, it will not see the Winter through.

problem being, imho, that the result will be far worse than a mere 3 yr hpc. We're looking at a deep 10 year recession the way this govt is handling things.

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Northern Rock effectively 'nationalised' by state guarantee
The Treasury said: "This is not a nationalisation as we'd have to own it."

Yes. All of the risk with none of the perks. Thanks for rubbing it in.

"The signal to the market is that there should be confidence in the bank so it can get up and running again," one source said.

Really? I thought it was accepted their model was broken...

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Now that would be complete madness.

3 days ago you called us all losers for not "investing" in NR at 269p and regreeted missing your chance.

Are you going to buy now they have fallen to 197p? Isn't this a much better buying opportunity?

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If I had a million pounds and took it out of NR I would put it straight back in. Its the safest place in Britain now for such a large sum in a single account. If I had a million pounds. :(

Well I managed to rescue my deposit with them of £35000,the CHAPs never went through and my Gilt Edged bond at 6.4% will ride on.Had I not managed the rescue I would have had the option of a 6.71% F*ck cluster also gilt edged.Swings and roundabouts really since the cheque would have been in limbo land a couple of weeks now their CHAPs system has collapsed.

Edited by crashmonitor

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3 days ago you called us all losers for not "investing" in NR at 269p and regreeted missing your chance.

Are you going to buy now they have fallen to 197p? Isn't this a much better buying opportunity?

Good god no. You must time the bounce just right. 269p to 289p in under an hour is a nice bounce. then sell. :P

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