Wednesday, December 17, 2008

Bank to charge savers?

UK needs negative interest rates, L&G warns

Negative interest rates? How does this work? Will the bank charge savers for the privilege of losing their money? The rest of the article seems rubbish, predicting that the recession will end in Q3 2009 with the FTSE at 4800! More likely we will still be getting deeper in to this mess with the FTSE at 2000. Still what does a mere mortal like me know.

Posted by who stole my pension? @ 08:03 PM (955 views)
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5 thoughts on “Bank to charge savers?

  • stole my pension

    Well I’ll agree with you on where I think the ftse SHOULD be.

    It must be running on Helium or something.

    Perhaps techieman can tell us how low it goes on his forecasting charts.

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  • In the seventies, interest rates were negative in Switzerland and people still secretely opened account there (illegal under exchange controls policies) as Switzerland was seen as a safe heaven despite costing savers.
    Wishful thinking for the government to expect people to rush and buy a property because they flood the market with liquidity. You can take the horse etc etc……Once the interest rates are at zero, people will stay put waiting for the rises to come. No responsible government would ever run zero interest rate as a long term economic plan. May be GB would.

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  • Eternal Sceptic says:

    Hey ho- the end is nigh! There will be a lot of stuffed matresses out there if it ever comes to that.

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  • Excuse me, perhaps I am easily confused, but wasn’t it the matter of low interest rates and crazy borrowing that started off this mess in the first place? Burglary is going to be a huge growth industry with all the cash that is going to be under the matresses.

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  • crash bandicoot says:

    They led the horse to water only to find that it was a one-trick pony.

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