Funds flee Greece as Germany warns of "fatal" eurozone crisis

[PAH]

<cough>

Not to mention Cater Allen.

Christ, it's getting so all the banking brands are owned by only a handful of companies.

Makes it harder to ensure your money's safe with that 50k limit per company (not brand). Have they increased it yet?

I'm wondering if it's safer to invest your spare cash in some sort of metal or substance that isn't currently all that valuable, but will definately become much more sought after in the next 10-20 years. Any ideas?

[HairyArsedBloke]

Christ, it's getting so all the banking brands are owned by only a handful of companies.

Makes it harder to ensure you're money's safe with that 50k limit per company (not brand). Have they increased it yet?

I'm wondering if it's safer to invest your spare cash in some sort of metal or substance that isn't currently all that valuable, but will definately become much more sought after in the next 10-20 years. Any ideas?

Aye, this isn't the coverage that it properly deserves.

However, it doesn't apply to me as I am very poor.
That's my story and I'm sticking to it.

[AtW]

Christ, it's getting so all the banking brands are owned by only a handful of companies.

Apparently if they have their own banking license then £50k applies to each of them.

Now the question I'd have whether it is £50k per account or per bank?

Either way this is academical - they are printing money left right and center, pounds for everyone!

Just imagine if UK was in euro zone and wasn't able to print euros - that would have terrible consequences: those who gambled on property markets would go bust and houses would become affordable again, we can't have that!

[HairyArsedBloke]

Apparently if they have their own banking license then £50k applies to each of them.

Now the question I'd have whether it is £50k per account or per bank?

Either way this is academical - they are printing money left right and center, pounds for everyone!

Just imagine if UK was in euro zone and wasn't able to print euros - that would have terrible consequences: those who gambled on property markets would go bust and houses would become affordable again, we can't have that!

Bit like how the PIIGS doing right now. There was a nice gag in the Telegraph the other day, it described Greece as the ouzozone.

BTW, I was against printing money and also believe that many assets including housing were over inflated. A deliberate policy of the nuLieBore government.

[AtW]

Bit like how the PIIGS doing right now.

So they are doing it now just like UK does, so this means they did not lose "control" over their currency?

A deliberate policy of the nuLieBore government.

To be fair it's not just them - the Fed has been doing it under Bush and continued under Obama. Same happened in Europe.

[HairyArsedBloke]

So they are doing it now just like UK does, so this means they did not lose "control" over their currency?



To be fair it's not just them - the Fed has been doing it under Bush and continued under Obama. Same happened in Europe.

It all started under the Clinton regime with there policy of home ownership for all even if they could not afford it. The UK has a high owner-occupier rate and Brown encouraged, through lax monetary policy, to create high inflation in asset classes to fool the electorate by exploiting the wealth effect.

It's true that Bush went along with it and it is doubtful if the Conservatives would have done anything different either. Doesn't make it right.

[AtW]

It all started under the Clinton regime with there policy of home ownership for all even if they could not afford it.

What about Thatcher?

Doesn't make it right.

No it doesn't, but it makes Nu Liebor no different in this respect - I am sure Convervatives would have done the same (encouraged false growth via debt), the temptation to stay in power for long time would have been impossible to resist for those types.

[centurian]

Now the question I'd have whether it is £50k per account or per bank?

Definately per bank, not per account, so if you have more than 50K, you really should spread it between banks (but make sure that they are not effectively the same institution i.e. Cahoot/Abbey/Sandander).

[HairyArsedBloke]

Just did a quick google and came up with this list: sminki

However, I'm puzzled as it has a couple of entries as having a single licence that I would have thought to be shared. As always, do your own research.

[centurian]

I am sure Convervatives would have done the same (encouraged false growth via debt)

Agreed - and I think this is the main reason why the tories are struggling to nail this election - because although they blame New Labour for the recession, most believe that the tories wouldn't have done any better.