This is it

[Mey]

No it won't save there savings, because if there was a financial crisis the govt. guarentees investments (upto 50k per person [iirc]), if inflation increases and the value of money drops your money that you have taken out of the bank is worthless, where as the money that is left in the bank rises and falls with it.

Unless your are an accountant or a FSA stfu, because your finanical advice is retarded.

 

[Gorbachioo]

No it won't save there savings, because if there was a financial crisis the govt. guarentees investments (upto 50k per person [iirc]), if inflation increases and the value of money drops your money that you have taken out of the bank is worthless, where as the money that is left in the bank rises and falls with it.

Unless your are an accountant or a FSA stfu, because your finanical advice is retarded.

So they say. But atleast in Finland theres not nearly enough money for everyone should the banks for bankcrupt. I just dont trust the whole thing.

Aaaaanyway, can we just let this go? *_* It was the first thing that came to my mind and i said it because tohtori would have just kept talking about it until i did.

I dont trust the banks at this moment. I dont think you should either and the people who already have lost their savings sure as hell dont.

And btw, having 10% of your money wiped out because of inflation is better than loosing all of it.

 

[Mey]

But you don't understand, if it gets to the stage when the banks crash they're wont be any need for money, because it will be worth jack shit.

 

[Gorbachioo]

But you don't understand, if it gets to the stage when the banks crash they're wont be any need for money, because it will be worth jack shit.

Who said anything about ALL banks crashing? There have been countless cases where certain banks have crashed and people have lost their savings, but the times when the currency has lost its value are very rare. As far as i know, and please do correct me if im wrong, there isnt a risk of hyperinflation in the eurozone atm.

 

[Raven]

Gorbachioo, got any tips on building a shelter under my house? Having a problem with the damp!

 

[Gorbachioo]

Gorbachioo, got any tips on building a shelter under my house? Having a problem with the damp!

You could get some cheap labor from africa to do it for you. Oh but wait..... they would just break the tools.

 

[Mey]

Who said anything about ALL banks crashing? There have been countless cases where certain banks have crashed and people have lost their savings, but the times when the currency has lost its value are very rare. As far as i know, and please do correct me if im wrong, there isnt a risk of hyperinflation in the eurozone atm.

Give examples to back up your argument then?

Who has lost there money? Afaik all the banks that have "crashed" in the uk have been either nationalised (the Rock, saving the savings) or bought out by other banks (HSBOS bought by LLoyds). Even the big investment bank in the USA was bought by a number of different parties.

 

[Gorbachioo]

Give examples to back up your argument then?

Who has lost there money? Afaik all the banks that have "crashed" in the uk have been either nationalised (the Rock, saving the savings) or bought out by other banks (HSBOS bought by LLoyds). Even the big investment bank in the USA was bought by a number of different parties.

There have been some cases but they have been mostly small banks. Nothing major so far. I was mainly refering to past incidents like Russia and Argentina (1998 and 2001) But the point is: It will get worse than what it was in these cases.

 

[Mey]

Some cases? If there was some where are they then?

The fact of the matter is that in Europe and the UK investments into banks are insured by govt. agencies (upto a set amount). Already individual investors are starting to get money back from investments in Iceland (or atleast the process is starting to happen).

You have called people on being ignorant but in reality you are blind to the fact that you know fuck all about what you are trying to advise people on doing.

 

[old.Tohtori]

So they say. But atleast in Finland theres not nearly enough money for everyone should the banks for bankcrupt. I just dont trust the whole thing.

Aaaaanyway, can we just let this go? *_* It was the first thing that came to my mind and i said it because tohtori would have just kept talking about it until i did.

I dont trust the banks at this moment. I dont think you should either and the people who already have lost their savings sure as hell dont.

And btw, having 10% of your money wiped out because of inflation is better than loosing all of it.

Who said anything about ALL banks crashing? There have been countless cases where certain banks have crashed and people have lost their savings, but the times when the currency has lost its value are very rare. As far as i know, and please do correct me if im wrong, there isnt a risk of hyperinflation in the eurozone atm.

Nice weaseling mister "intelligent". The "cover my back 'cause this ain't happening" has started already.

So evidently shouldn't take money out and there's no "impending doom" now?

Like i said, simple and plain sacremongering which you probably read from another forum.

Also, savings!=poor aka, i'm right you dumb one(isn't that what you called me?)

 

[Marc]

No it won't save there savings, because if there was a financial crisis the govt. guarentees investments (upto 50k per person [iirc]), if inflation increases and the value of money drops your money that you have taken out of the bank is worthless, where as the money that is left in the bank rises and falls with it.

Unless your are an accountant or a FSA stfu, because your finanical advice is retarded.

I get lots of clients phoning me for advice about what to do with their savings over and above the £50k guaranteed by the banks. I advise them that if they are really worried and want to move their cash, then put them into government gilts as these are pretty much guaranteed in their entirity, although the return is not as good as what they would get from other forms of investment but is 1000000 times safer.

 

[Mey]

Aye, tis a good plan indeed, another option is to split the investment between two people (i've seen customers deposit a portion of their money into a spouses/childs savings account because it will guarentee it [its 50k per peson].

 

[Bugz]

The poor/rich isn't a dumb comment, it's a fact. When you don't have savings, a house, a car, etc etc...riches...this will not effect your quality of life.

Savings are guaranteed; most rich people are smart enough to 'abuse' the system in order to guarantee all their savings.

When the shit hits the fan; people with less savings/no savings will immediately feel the crunch and will have to change spending patterns and so on. I know this because my household is one of those households.

People with savings or with a lot of excess income will have a 'safety net' before they hit any problems.

Quality of life has nothing to do with it. Most rich people save more - something you cannot dispute - one of the greatest economists who ever lived said so. Savings don't affect your quality of life.

'normal food-> mouth people will survive just fine.'

Errr - no they won't? How many mortgage repossessions have their been? How many people have had to stop renting and move into their mums/dads place? People with savings dip into savings and from the outside view look fine. Those who downgrade; lose houses; lose cars; bailiffs etc. etc. obviously aren't fine.

If you define owning a house as being rich you are off the mark entirely. Over 70% of Britain's own the house they live in. Are you saying that 70%+ of the population are rich? If half the population of Britain own just 5% of the wealth in the country how can that statistically be viable?

The rich ride the storm better than the poor.

 

[Gorbachioo]

Some cases? If there was some where are they then?

The fact of the matter is that in Europe and the UK investments into banks are insured by govt. agencies (upto a set amount). Already individual investors are starting to get money back from investments in Iceland (or atleast the process is starting to happen).

You have called people on being ignorant but in reality you are blind to the fact that you know fuck all about what you are trying to advise people on doing.

Well you just mentioned one: Iceland. Then there was that case in Australia a couple of days ago. There hasnt been many cases so far. There have been alot of bank failures but so far people havent lost their money.

You like calling me names but you havent given any justification for those names. Nothing that ive said so far has been wrong.

 

[Gorbachioo]

Nice weaseling mister "intelligent". The "cover my back 'cause this ain't happening" has started already.

So evidently shouldn't take money out and there's no "impending doom" now?

Like i said, simple and plain sacremongering which you probably read from another forum.

Also, savings!=poor aka, i'm right you dumb one(isn't that what you called
me?)

What?

No you should take your money out and there is an impending doom. When have i said otherwise?

And yes i did read it from an internet forum. I can even give you links to these internet forums if you want. You can tell everyone there how dumb they are.

And why, oh why, are we arguing over the definition of poor? What relevance does it have to any of this?

The thing is here, the best case scenario we can look for is a hell of a depression but there are a thousand things that can go wrong and probably will. The biggest threat being a new war in the middle east or one of the old ones heating up again. This isnt simply a possibility but its starting to look likely.

 

[old.Tohtori]

And why, oh why, are we arguing over the definition of poor? What relevance does it have to any of this?

Because that's the basis of what my point was.

Learn to read, then we'll talk. Or that failing, learn to answer.

Bugz, not rich, NOT POOR.

A house is not poor.

IF you're buying a house, you're not poor.

If you basically get food and shealter for your work, you're poor. More so if you don't have a job.

Those people will survive 'cause they are surviving daily, it's wanks like Gorb that are panicing and i couldn't care less. Hope they panic themselves to oblivion.

 

[Aoami]

IF you're buying a house, you're not poor.

Even thought 99.9% of the population buy them on credit? That's how this problem came around in the first place.

 

[Gorbachioo]

Because that's the basis of what my point was.

Learn to read, then we'll talk. Or that failing, learn to answer.

Bugz, not rich, NOT POOR.

A house is not poor.

IF you're buying a house, you're not poor.

If you basically get food and shealter for your work, you're poor. More so if you don't have a job.

Those people will survive 'cause they are surviving daily, it's wanks like Gorb that are panicing and i couldn't care less. Hope they panic themselves to oblivion.

And what was that point?

 

[Bugz]

A person below the poverty line COULD afford a house quite easily provided he lives by himself or on his own.

In fact - using 'the house ownership' as a rule of whether something is rich, poor or in between is just plain stupid.

Now go away Tohtori - you know nothing.

 

[old.Tohtori]

And what was that point?

If you don't know what i said, why the hell are you arguing...

Now go away Tohtori - you know nothing.

Like you would, living at home and all.

It's all about definitions, and those who live with less, will be effected less, as they know how.

A house is somethig you can sell off, that's not poor.

I've never called people here rich, for having a house or savings, but they are not POOR. Get it you arrogant f*ck.

 

[Aoami]

If you don't know what i said, why the hell are you arguing...



Like you would, living at home and all.

It's all about definitions, and those who live with less, will be effected less, as they know how.

A house is somethig you can sell off, that's not poor.

I've never called people here rich, for having a house or savings, but they are not POOR. Get it you arrogant f*ck.

It's not something you can sell off if you buy it with a mortgage though.

 

[Bugz]

But if a 'poor' person can afford a fuckin house how can you say 'those with houses are not poor - not rich - inbetween'?

Are you so damnright oblivious to the hundreds of ways you can (or could...) obtain a house without having a super high income.

Hell - back in the day - a 15k grand income would get you a mortgage, albeit not a very safe one. And 15k is below the poverty line!

Stupid stupid stupid...

 

[old.Tohtori]

Who gives a f*ck about some poverty line.

Less savings/owned stuff=lesser hit.

It's a fact.

That's the problem with talking with pencil pushers and statistics junkies, it's not real world.

Throw a rich person and a commoner in a desert island and the commoner will most likely survive better.

 

[Bugz]

You mean less 'relative hit' right?

Increase gas bills by 50%, rich person uses savings, poor person introduces an opportunity cost.

yes the poverty line is a complete cock off but so is your shitty statement of believing house ownership determines rich/poor/in the middle.

Poverty is a subjective issue hence why you have so many different ways of measuring the standard of living of an area/country/group of people.

Sure lots of people with savings may lose money but in relative terms a guy who goes from 500k to 250k is still better off than a single mum who goes from just being able to pay her bills to having to eat less in order to pay them.

 

[old.Tohtori]

If you already own a house, it doesn't. Which i said initially. And yes, relative hit, also which i said earlier.

 

[Bugz]

Ahh ofcourse.

That situation where you say a bullshit initial comment and then work around changing your comment so you don't seem less of a plonker.

My bad - my bad. I'll leave you be.

 

[Mey]

Gorbachioo I'm calling you names because you are posting utter trash, your talking about something that you have no grasp off. You don't even back your argument up with facts, your using ancedotal evidence to support a basis that is fundamentally wrong. Also looking back at your old posts you've constantly doomsaying since you started posting, what happened to those food shortages aye?

I also agree with Bugz about the house rich/poor thing.

 

[aika]

I have a house and I'm a student, though its shared between 3 people, I wouldnt define myself rich at all :>

 

[Gorbachioo]

Gorbachioo I'm calling you names because you are posting utter trash, your talking about something that you have no grasp off. You don't even back your argument up with facts, your using ancedotal evidence to support a basis that is fundamentally wrong. Also looking back at your old posts you've constantly doomsaying since you started posting, what happened to those food shortages aye?

I also agree with Bugz about the house rich/poor thing.

Prove me wrong on something.

What food shortages might those be? The ones that we'll see when theres 9% less oil?

A year away if the IEA can be trusted.

 

[old.Tohtori]

Ahh ofcourse.

That situation where you say a bullshit initial comment and then work around changing your comment so you don't seem less of a plonker.

My bad - my bad. I'll leave you be.

Look back at my initial comments, no works arounds.