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Thread: Merry Christmas Politics Board Participants

  1. #31

    Re: Merry Christmas Politics Board Participants

    Quote Originally Posted by Organ Morgan. View Post
    I've deliberately swerved posting forecasts re financial collapse these past several months. My top tip to hedge risk was to keep an absolute minimum to cover bills in bank accounts. The current system won't implode unless those who operate it want it to pop.
    Where do you keep your money, if not in the banks?

  2. #32

    Re: Merry Christmas Politics Board Participants

    Couple of safes. One's underfloor, the other's bolted to the floor. Both were Which's top pick in their respective category. The latter is a Burton Torino 2K, the other one I'll need a torch to tell you the name of as I've forgotten but will have a gander if you're interested. They are reassuringly heavy and well built.

  3. #33

    Re: Merry Christmas Politics Board Participants

    Quote Originally Posted by lardy View Post
    Where do you keep your money, if not in the banks?
    Offshore

  4. #34
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    Re: Merry Christmas Politics Board Participants

    It's about time all this Xmas nicey nice posting abated and the posters get back to normal. Let the slagging off commence.

  5. #35

    Re: Merry Christmas Politics Board Participants

    Quote Originally Posted by Organ Morgan. View Post
    Couple of safes. One's underfloor, the other's bolted to the floor. Both were Which's top pick in their respective category. The latter is a Burton Torino 2K, the other one I'll need a torch to tell you the name of as I've forgotten but will have a gander if you're interested. They are reassuringly heavy and well built.
    Happy to let inflation eat it all away?

  6. #36

    Re: Merry Christmas Politics Board Participants

    Quote Originally Posted by Nelsonca61 View Post
    It's about time all this Xmas nicey nice posting abated and the posters get back to normal. Let the slagging off commence.
    Oh it hasn't stopped for some its hidden in mild sarcasm others are feeling very deflated by the election result.

    God help us if Trump wins a second term.

    😉

  7. #37

    Re: Merry Christmas Politics Board Participants

    Quote Originally Posted by lardy View Post
    Happy to let inflation eat it all away?
    Like it wouldn't be eaten away sat in a bank's savings account attracting 0.1% interest per annum? Negative real interest rates are a tax on savings. That's been the case for 10 years straight... and why? Two reasons: a docile population and politicians who are under the thumb of bankers who are pissing themselves laughing. Citizens the world over always get more of what they are prepared to tolerate. That's why here in Blighty the base rate will go from the current 0.75% to 0.00% and perhaps into negative territory.

  8. #38

    Re: Merry Christmas Politics Board Participants

    Quote Originally Posted by Organ Morgan. View Post
    Like it wouldn't be eaten away sat in a bank's savings account attracting 0.1% interest per annum? Negative real interest rates are a tax on savings. That's been the case for 10 years straight... and why? Two reasons: a docile population and politicians who are under the thumb of bankers who are pissing themselves laughing. Citizens the world over always get more of what they are prepared to tolerate. That's why here in Blighty the base rate will go from the current 0.75% to 0.00% and perhaps into negative territory.
    Then you don't keep all your money in a 0.1% account.

    But you are being clever. Each pound will buy you less each year. But despite that, you're teaching those bankers a lesson they won't forget. Well done.

  9. #39

    Re: Merry Christmas Politics Board Participants

    The interest rate is a side issue for me because I don't and have never collected interest (I'm against usury on principle). The primary reason is that you, I and everyone else's dough in any type of bank account belongs to them; we become unsecured creditors. Sure, they'll hand it back on demand. That's until they cannot or will not. It's why bail-in laws are on the books here, throughout the EU, the USA and quite recently Australia joined them. The idea is should banks blow-up again 2008-style it won't be governments that will bail them out but their depositors and shareholders who will become bag carriers.

  10. #40

    Re: Merry Christmas Politics Board Participants

    Quote Originally Posted by lardy View Post
    Then you don't keep all your money in a 0.1% account.

    But you are being clever. Each pound will buy you less each year. But despite that, you're teaching those bankers a lesson they won't forget. Well done.
    Out of idle curiosity, what savings account or fixed term bond is it that you can't resist risking getting a return on?

  11. #41

    Re: Merry Christmas Politics Board Participants

    Quote Originally Posted by Organ Morgan. View Post
    The interest rate is a side issue for me because I don't and have never collected interest (I'm against usury on principle). The primary reason is that you, I and everyone else's dough in any type of bank account belongs to them; we become unsecured creditors. Sure, they'll hand it back on demand. That's until they cannot or will not. It's why bail-in laws are on the books here, throughout the EU, the USA and quite recently Australia joined them. The idea is should banks blow-up again 2008-style it won't be governments that will bail them out but their depositors and shareholders who will become bag carriers.
    You brought interest into the conversation.

    You need to weigh up the chance of that happening against the absolute certainty that your cash at home is definitely dropping in value and will always drop in value.

    Thanks for the financial advice. Although I will think twice about following someone who has never collected interest. You've done well to be able to afford to buy a device that accesses the internet with your strategy.

  12. #42

    Re: Merry Christmas Politics Board Participants

    Quote Originally Posted by Organ Morgan. View Post
    Out of idle curiosity, what savings account or fixed term bond is it that you can't resist risking getting a return on?
    This question doesn't make sense to me. Apologies.

  13. #43

    Re: Merry Christmas Politics Board Participants

    Here's the best rates currently available for what I was on about: https://www.money.co.uk/savings-acco...SAAEgI0ufD_BwE

    I'm sorry that my query in simple English proved so confusing.

  14. #44
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    Re: Merry Christmas Politics Board Participants

    Quote Originally Posted by Nelsonca61 View Post
    It's about time all this Xmas nicey nice posting abated and the posters get back to normal. Let the slagging off commence.
    I got this for Xmas, and it's a good read if you don't mind listening to lefty liberal types, but he nails the fake news media who disinform many of the confused posters on here. You may even know the author if you read Rolling Stone magazine.


  15. #45

    Re: Merry Christmas Politics Board Participants

    Quote Originally Posted by Organ Morgan. View Post
    Here's the best rates currently available for what I was on about: https://www.money.co.uk/savings-acco...SAAEgI0ufD_BwE

    I'm sorry that my query in simple English proved so confusing.
    Oh, you asked which are the best accounts. The muddle of gerunds made it difficult to understand. I'm afraid I'm no expert, but that website is probably a good place to start if you're dipping your toe.

  16. #46

    Re: Merry Christmas Politics Board Participants

    Quote Originally Posted by Wales-Bales View Post
    I got this for Xmas, and it's a good read if you don't mind listening to lefty liberal types, but he nails the fake news media who disinform many of the confused posters on here. You may even know the author if you read Rolling Stone magazine.

    Good listen as well
    https://youtu.be/S5TPAv3C1e0

    https://youtu.be/k4CohXkdR0w

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