The £75k bank guarantee thing????

[electronicfur]

And if the banking system collapses to such an extent that small savers (less than £75K) are not protected by the government, we'll all be in the soup. No insurance scheme, Coutts or otherwise, is likely to be worth anything. Nor is the money you've stashed in your safe, because in that scenario the government will print money on a massive scale and inflation will go crazy. The only safe investments in that scenario are gold bullion (if you can find anyone to buy it), property (people have to live somewhere, so property will always have at least some value), and food (people have to eat).

In that situation a shotgun is probably more useful...

An up-to-date source for which institution has what banking license is here:

Banking and savings brands - Financial Conduct Authority

[PerfectStorm]

Is the value of gold ever going to crash? Is it much use in 2016?

[northernladuk]

Is the value of gold ever going to crash? Is it much use in 2016?

Blimey. You've not seen a historical chart for gold or something??

[WordIsBond]

In that situation a shotgun is probably more useful...

Undoubtedly. But that's a safety device, not an investment. And hardly adequate, if you need to hold off a mob, you probably need something that's illegal to own. But you can always phone the police and they might arrive in time to chase off the looters and discover your dead body.

Is the value of gold ever going to crash? Is it much use in 2016?

It won't ever completely crash as long as scaremongers are telling people that you can't safely put any money in a bank.

[Whysoserious]

Everyone is free to make their own opinion but in a time when Switzerland is voting to scrap fractional banking (good idea), the introduction of BRRD and downgrading of bank deposit guarantees. I think it would be wise to read between the lines and think about the reasons why financial institutions are making such moves extreme moves.

No government wants to fund another crash. The liability is slowly being transferred to account holders without much public press.

The next crash will come but this time the governments will wash their hands. Leaving the banks and depositors to bail the bank out.

[jamesbrown]

the governments will wash their hands.

Of power, perhaps.

These bail-in requirements have been well-telegraphed, even if the general public is broadly unaware. The FSCS continues to apply. For how much longer and in what form is debatable, as is its reliability, ultimately, when the **** hits the fan (in which case, assets more generally would be pretty worthless), but it is a reasonable promise that can be relied upon, barring an epic meltdown.