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MrMarkyMark
15th January 2016, 11:28
I was waiting for this........grab your lube and get ready :eyes



Abolishing £75,000 per person insurance scheme could strengthen the UK economy

It's all the stupid customers fault!


The presence of deposit guarantees has allowed depositors to take a “nonchalant attitude towards risk” he said


Scrap guarantees for savers' deposits to avoid banking crises, says think tank - Telegraph (http://www.telegraph.co.uk/finance/newsbysector/banksandfinance/12099986/Scrap-guarantees-for-savers-deposits-to-avoid-banking-crises-says-think-tank.html)

DimPrawn
15th January 2016, 11:58
Scare people into moving more cash into the UK property market? The UK Bricks 'n' Mortar Ponzi scheme is looking a little shaky lately.

So are they suggesting it's okay to pay 0.1% interest, but with massive risk of them just saying "we are broke, thanks for your cash!".

Bankers = :winker:s

MrMarkyMark
15th January 2016, 12:01
Scare people into moving more cash into the UK property market? The UK Bricks 'n' Mortar Ponzi scheme is looking a little shaky lately.

No, its fine, The Daily Express told me, prices are going to keep going up and up.


So are they suggesting it's okay to pay 0.1% interest, but with massive risk of them just saying "we are broke, thanks for your cash!".

Yup, in a nutshell.
Good for the economy, as we know the bankers are better at looking after money, than we are :smokin

DimPrawn
15th January 2016, 12:02
Good for the economy, as we know the bankers are better at looking after money, than we are :smokin

Buy shares in coke dealers.

vetran
15th January 2016, 12:07
I think prosecuting heads of banks would be a better solution!

The bank Guarantee was one of the few decent policies that affected me. Everything else I either earn too much for or I'm too old/young for. :cry1:

BrilloPad
15th January 2016, 12:09
You guys have savings? You should be putting it all into BTL deposits.

MrMarkyMark
15th January 2016, 12:12
FTFY


You guys have savings? You are a the biggest bunch of losers. You should be putting it all into BTL deposits.

Troll
15th January 2016, 12:28
Gold - it's the only way to be certain

Uncle Albert
15th January 2016, 12:36
Gold - it's the only way to be certain

Don't buy any from ATW. Bank Caught Using Fake Gold As Reserve Capital In Russia | Zero Hedge (http://www.zerohedge.com/news/2015-09-12/russian-bank-caught-using-fake-gold-reserve-capital)

The Spartan
15th January 2016, 12:49
You guys have savings? You should be putting it all into BTL deposits.

You hate BTLer's though Brillo

OwlHoot
15th January 2016, 12:59
If this is implemented, or many people come to believe it might be, that would at least have the merit of giving banks and governments a much harder time trying to persuade people to accept NIRP or even the abolition of cash. So in that respect this think tank are doing us a good turn by raising the issue.

The Spartan
15th January 2016, 13:05
Definitely as it makes me think more about where to potentially put my money and what to do with as opposed to keeping it in a bank.

MrMarkyMark
15th January 2016, 13:10
Gold - it's the only way to be certain

That's what Gordon Brown "thought" :eyes

DimPrawn
15th January 2016, 13:12
What about your company account? With your tax money in there plus your warchest, it all goes pop with the bank.

Suddenly HMR&C are breathing down your neck for the tax money, next up, lost your home and are living on the streets as a bankrupt.

MrMarkyMark
15th January 2016, 13:17
Suddenly HMR&C are breathing down your neck for the tax money, next up, lost your home and are living on the streets as a bankrupt.

Don't really see any issue, you need to focus on the bigger picture and help GB's economy.
No wonder we are in such a mess, I don't even think Corbyn, the bearded crusader, can get us out of it. :eyes

AtW
15th January 2016, 13:20
Guarantee is there to prevent sudden mass withdrawal of deposits in event of turmoil - especially important in age of social networks where panic can spread quick.

Most people in UK don't have any cash of that size anyway, and the real scandalous thing is that guarantee is not for FULL deposit, ffs, £75k is not enough to buy a good car these days.

Troll
15th January 2016, 13:24
Most people in UK don't have any cash of that size anyway,But we are not "most people" :smokin

MrMarkyMark
15th January 2016, 13:33
ffs, £75k is not enough to buy a good car these days.

Are you saying this is not a good car, yours for just over 11K?

http://mit.zenfs.com/209/2011/09/yahoo_garay_car1.jpg

vetran
15th January 2016, 13:35
Guarantee is there to prevent sudden mass withdrawal of deposits in event of turmoil - especially important in age of social networks where panic can spread quick.

Most people in UK don't have any cash of that size anyway, and the real scandalous thing is that guarantee is not for FULL deposit, ffs, £75k is not enough to buy a good car these days.

spread over multiple banks and you can save ~ £1m.

AtW
15th January 2016, 13:44
spread over multiple banks and you can save ~ £1m.

Guarantee is per banking license - a number of "banks" now work under umbrella of same group with a single banking license, so you might be in for a surprise thinking you had it all covered...

A better way of doing it is this: pay some bum on a street a fiver a month for him to keep deposit in his name. Perhaps some some mobile based aggregation service for bums to provide such services could be my plan B...

DimPrawn
15th January 2016, 13:46
Guarantee is per banking license - a number of "banks" now work under umbrella of same group with a single banking license, so you might be in for a surprise thinking you had it all covered...

A better way of doing it is this: pay some bum on a street a fiver a month for him to keep deposit in his name. Perhaps some some mobile based aggregation service for bums to provide such services could be my plan B...

Santander alone own about half of the banks, all under one licence....

Doomed I tell ya!

AtW
15th January 2016, 13:46
The good news is that big banks in UK won't fail - Govt will have to bail out again, done it once, markets know it, so they won't be considering it a real risk which is the only reason those banks won't fail ...

The Spartan
15th January 2016, 13:49
If all else fails it's back to this for me :wink
http://www.screenfad.com/wp-content/uploads/2015/08/narcos.jpg

MrMarkyMark
15th January 2016, 13:54
If all else fails it's back to this for me :wink

What you are going back to selling duvets?

:D

The Spartan
15th January 2016, 13:57
What you are going back to selling duvets?

:D

Sure am everyone needs good quality sleep, maybe I'll get in on some tempur action have you seen how much they charge for their mattresses :laugh

vetran
15th January 2016, 14:00
Guarantee is per banking license - a number of "banks" now work under umbrella of same group with a single banking license, so you might be in for a surprise thinking you had it all covered...

A better way of doing it is this: pay some bum on a street a fiver a month for him to keep deposit in his name. Perhaps some some mobile based aggregation service for bums to provide such services could be my plan B...

hence the £1m total when there are 155 banks suitable for PRA finding 15 that aren't linked should be reasonably easy. Also as I have a wife the amount doubles if we have a joint account. So £150k is possible per bank account.

Happy for you to pay me a £5 a month to sit on your cash. It might not be there when you get back.

MrMarkyMark
15th January 2016, 14:01
Sure am everyone needs good quality sleep

Important to decide really, as a starter for 10, if you are going to be in the asleep, or awake business.

HTH.

DimPrawn
15th January 2016, 14:22
Former Co-op Bank executives banned from senior financial roles - BBC News (http://www.bbc.co.uk/news/business-35324438)


The Co-op Bank came close to collapse in 2013.

In addition to the bans, the PRA fined Mr Tootell £173,802 and Mr Alderson was fined £88,890.

Those fines are pathetic. They should be inprisoned for 10 years.

AtW
15th January 2016, 14:32
hence the £1m total when there are 155 banks suitable for PRA finding 15 that aren't linked should be reasonably easy. Also as I have a wife the amount doubles if we have a joint account. So £150k is possible per bank account. Happy for you to pay me a £5 a month to sit on your cash. It might not be there when you get back.

Risk of divorce is much higher than that of bank going bust :grey

Big banks like Lloyds won't go bust without bailout, as long as property prices go up and up, like they always do, especially in Birmingham...

diseasex
15th January 2016, 14:33
How exactly would that help economy? So banks could take more risks and don't have to contribute to that security fund ?

MrMarkyMark
15th January 2016, 14:35
How exactly would that help economy? So banks could take more risks and don't have to contribute to that security fund ?

The banks won't have to pay us back, our money, if (when) they feck up.
Therefore the government won't have to bail them out.

Win Win :smokin

diseasex
15th January 2016, 14:38
The banks won't have to pay us back, our money, if (when) they feck up.
Therefore the government won't have to bail them out.

Win Win :smokin

they will bail them out anyway to avoid loss of employment but won't have to guarantee deposits of little people... corporatocracy.

DimPrawn
15th January 2016, 14:38
Risk of divorce is much higher than that of bank going bust :grey



Amen, and you stand to lose a lot more than £75K. :laugh

MrMarkyMark
15th January 2016, 14:40
Amen, and you stand to lose a lot more than £75K. :laugh

Hasn't he got to find a person to get married to, first?

diseasex
15th January 2016, 14:42
Hasn't he got to find a person to get married to, first?

Id merry him if that was more than 75k

MrMarkyMark
15th January 2016, 14:43
Id merry him if that was more than 75k

Are you actually in charge of all your own faculties?
He's loaded btw.

Great fun, to play cupid, once more :smokin

vetran
15th January 2016, 15:22
Id merry him if that was more than 75k

Brillo has more experience.