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wickywackywoo

How Safe Are Ns&i?

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I know most people consider NS&I to be *rock* :lol: solid as they are essentially the Goverment but how safe are they really?

I'm thinking Argentina when the equivalent over there was probably nicked by the goverment as they defaulted on just about everything. It strikes me that it is not impossible for this country to go the same way as Argentina. Now I appreciate it's unlikely, but I have a huge wedge in indexed bonds and you need to think about these things (especially when you have the master nicker himself at the helm).

A further question, is it really mean to show your huge gold hoard to poor people, or do they deserve it?

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I know most people consider NS&I to be *rock* :lol: solid as they are essentially the Goverment but how safe are they really?

I'm thinking Argentina when the equivalent over there was probably nicked by the goverment as they defaulted on just about everything. It strikes me that it is not impossible for this country to go the same way as Argentina. Now I appreciate it's unlikely, but I have a huge wedge in indexed bonds and you need to think about these things (especially when you have the master nicker himself at the helm).

A further question, is it really mean to show your huge gold hoard to poor people, or do they deserve it?

IMHO its not worth worrying about as everyone would be in the same boat, but... if you don't trust nsandi or the government and think the country could go the way of Argentina you should think about emigrating.

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A further question, is it really mean to show your huge gold hoard to poor people, or do they deserve it?

If the poor people then nick your gold, you'll deserve it :P

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IMHO its not worth worrying about as everyone would be in the same boat, but... if you don't trust nsandi or the government and think the country could go the way of Argentina you should think about emigrating.

Thanks for your reply.

I don't think it likely this country will go the same way as Argentina but it strikes me as not impossible given the current imbalances. I am simply trying to see what other people's views on this are.

Emigrating for me is not an option for another ten years or so unfortunately. If it wasI'd be gone already.

I'd prefer to spot an Argentina coming and get my money out quick if possible, hence this post.

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Safe as houses, of course. Why do you ask?

Why do you say 'Safe as houses'?

Are you familiar with what happened in Argentina?

Is there a reason why our goverment couldn't get into a similar mess? I don't know, which is why I'm asking.

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Guest Bart of Darkness
I don't think it likely this country will go the same way as Argentina but it strikes me as not impossible given the current imbalances. I am simply trying to see what other people's views on this are.

If NS&I hit trouble, then any savings in Sterling are toast, simply because by that point the currency would be toast.

In such an extreme scenario you would probably be better off having your savings in a Swiss based account (don't expect much in the way of interest though) and in some physical gold (best to keep really quiet about that).

Small denomination gold coins might be useful in getting things off the black market (there's bound to be one).

Anyhoo, to get back to your original question, NS&I are as safe as anything in the current financial world and safer than most other things.

A further question, is it really mean to show your huge gold hoard to poor people, or do they deserve it?

Not at all, so long as you don't mind having your skull caved in, your house ransacked and then set alight and any female relatives inside gang-raped, go right ahead. ;)

Righto, I'm off for a nice cuppa, all this doomsday talk has made me thirsty. Might even treat myself to a Bourbon Cream. Toodle pip!

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Why do you say 'Safe as houses'?

Are you familiar with what happened in Argentina?

Is there a reason why our goverment couldn't get into a similar mess? I don't know, which is why I'm asking.

I am only pulling your chain. :P

Seriously though, it depends on what kind of a person you are. Optimists believe all this credit crunch malarky will all fade out and everything will be back to normal, with banks (including Her Majesty's) resuming normal service - bar a bit of inflation / deflation, whatever. Pessemists however, believe that we are all sh@fted so you'd better get yer gun (and your Kruggers) and buckle down for Armageddon - so all banks, in the great scheme of things, are not to be trusted (backed by the 'government' or whatever). So its up to you. Your guess is as good as mine.

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I am only pulling your chain. :P

Seriously though, it depends on what kind of a person you are. Optimists believe all this credit crunch malarky will all fade out and everything will be back to normal, with banks (including Her Majesty's) resuming normal service - bar a bit of inflation / deflation, whatever. Pessemists however, believe that we are all sh@fted so you'd better get yer gun (and your Kruggers) and buckle down for Armageddon - so all banks, in the great scheme of things, are not to be trusted (backed by the 'government' or whatever). So its up to you. Your guess is as good as mine.

Yeah, tough one! I wonder what happened to NS&I the last time Labour bankrupted the country and had to go to the IMF for a loan. Could people still cash them in I wonder?

I try to be realistic about these things rather than either optimistic or pessimistic. Argentina was a rich country in the past and if the middle classes can get wiped out there then it can happen here for sure. Doesn't do any harm to be aware of these things and to try and guard against them particulary in such financially unstable times. I'm hoping that you would get plenty of warning if something like Argentina was coming.

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I am only pulling your chain. :P

Seriously though, it depends on what kind of a person you are. Optimists believe all this credit crunch malarky will all fade out and everything will be back to normal, with banks (including Her Majesty's) resuming normal service - bar a bit of inflation / deflation, whatever. Pessemists however, believe that we are all sh@fted so you'd better get yer gun (and your Kruggers) and buckle down for Armageddon - so all banks, in the great scheme of things, are not to be trusted (backed by the 'government' or whatever). So its up to you. Your guess is as good as mine.

one further point you look at financial history optimists win most of the time, money supply and the fiat banking system tends to support optimists as it inflates problems away. Think positively with everything, but do lots of different things (well diversified portfolio) and if your not really stupid or really unlucky most of the things you do will turn out fine, outweighing the occasional failure..

Some Gold

Some Cash

Some Property

Some Foreign Investments

Edited by moosetea

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As safe as the government .. which is as safe as an armed gang that plunders everyone to satisfy their own needs.

Watch inflation (like wages, food bills) and watch Gilts and also the pound exchange rate. If you need to dump NSANDI these things will tell you first. (rocketing inflation indicates PRINTING money, the other 2 indicate falling confidence in the economic health of the monetery system or ability of the government to pay its debt without PRINTING).

Undoubtedly if the NSANDI were to be in danger I would look at PMs, foreign currency (I think it would be difficult to hyper inflate the euro as long as member countries dont exit en mass). And more importantly tinned food (Zimbabwe experience)

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If NS&I hit trouble, then any savings in Sterling are toast, simply because by that point the currency would be toast.

In such an extreme scenario you would probably be better off having your savings in a Swiss based account (don't expect much in the way of interest though) and in some physical gold (best to keep really quiet about that).

Small denomination gold coins might be useful in getting things off the black market (there's bound to be one).

Anyhoo, to get back to your original question, NS&I are as safe as anything in the current financial world and safer than most other things.

Not at all, so long as you don't mind having your skull caved in, your house ransacked and then set alight and any female relatives inside gang-raped, go right ahead. ;)

That doesn't sound like fun :( Are poor people all like this?

Righto, I'm off for a nice cuppa, all this doomsday talk has made me thirsty. Might even treat myself to a Bourbon Cream. Toodle pip!

Sounds like you'd get plenty of warning that things were sinking anyway and you could pull your money out into something else. What happened to goverment creditors when the last Labour goverment had to go to IMF? Anyone know? Could they get their dosh out?

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If NSI going under I'm going to put everything I've got into canned food and shotguns. :P

If you know your John Christopher apocalyptic literature, you'll know a shotgun is relatively useless. A crossbow or catapult is better as ammunition can be improvised easily. :P

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If you know your John Christopher apocalyptic literature, you'll know a shotgun is relatively useless. A crossbow or catapult is better as ammunition can be improvised easily. :P

Wouldn't it depend on how many cartridges you had? If you had ten million I'd imagine the shotgun would be better? If you had that many cartridges you could go round shooting up trees just for fun.

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Guest Bart of Darkness
Are poor people all like this?

Angry ones might be. Imagine today's cosseted UK population deprived of all their comforts (and money).

Sounds like you'd get plenty of warning that things were sinking anyway and you could pull your money out into something else. What happened to goverment creditors when the last Labour goverment had to go to IMF? Anyone know? Could they get their dosh out?

The warning signs would be there I'm sure. In all probability, the best thing to do would be to emigrate (if you do so in time).

As someone who remembers the 1970s, it certainly seemed at the time that the country was on a downward spiral. 25% inflation, blackouts, strikes, that IMF loan. It didn't happen in the end but a lot of people felt that it was time to get out (the "Brain Drain").

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Righto, I'm off for a nice cuppa, all this doomsday talk has made me thirsty. Might even treat myself to a Bourbon Cream. Toodle pip!

Gone off the bourbons myself - somebody was telling me the other week that the cream in the middle is made of all the broken biscuits crushed up and mixed with fat.

Have,t been able to eat one since.

F :(

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Guest Bart of Darkness
Gone off the bourbons myself - somebody was telling me the other week that the cream in the middle is made of all the broken biscuits crushed up and mixed with fat.

Have,t been able to eat one since.

F :(

I'd better not mention that to a friend of mine, she loves 'em.

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Funny that Argentina should be mentioned on this Board. :D

I am on the mailing list of a BTL mortgage broker and things must be so desperate that they have been trying to get me to buy land in Argentina. :unsure:

Project Greengold was featured in The Sunday Times as one of five ways to earn 10% on your cash (16th July). This is a unique opportunity to buy arable land whose produce is contracted to Asia for 10 years.

Minimum investment of £10,000

10 years secured yield of 10%

Average annual returns of 14%

The land operator will buy back the land in 10 years at a 50% premium

Tax relief through SIPPs

Investment window open until 31/08/07

This is currently one of the safest and most profitable investments at the moment with an incredibly low entry level price.

P.S. I have money in NS&I and sleep soundly at night. :)

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