scothunter 12,609 Posted December 1, 2011 Report Share Posted December 1, 2011 just heard that the goverment have told the banks to prepare in case of the euro failure.now i know it would ultimaetly affect us,but anyone know how much it would hit us.guess im asking is our money safe in our banking system if it goes tits up.or should we be keeping it in the house lol Quote Link to post Share on other sites
paulus 26 Posted December 1, 2011 Report Share Posted December 1, 2011 always a safer bet to have it in your pocket rather than someone elses Quote Link to post Share on other sites
Extremetaz 15 Posted December 1, 2011 Report Share Posted December 1, 2011 (edited) As far as I understand it, the principle concern for you guys would be that in the event of the euro failing, Sterling will retain it's net worth. Whilst that may sound good initially, in a market where everyone else will ultimately wind up devaluing their own currencies, British exports will become uncompetitive. So while domestic trade and imports will be fine, any industry involved in export would be in for hard times - it's the feedback from that into your system then that will cause the problems. That's only my limited understanding though - I'd actually be very interested in any farther replies to this myself, as I'm sure there's significantly more that could be added to the above. Edited December 1, 2011 by Extremetaz 1 Quote Link to post Share on other sites
Carraghs Gem 1,675 Posted December 1, 2011 Report Share Posted December 1, 2011 im thinking of changeing my savings to sterling, since i will be spending most of it in uk anyway Quote Link to post Share on other sites
scothunter 12,609 Posted December 1, 2011 Author Report Share Posted December 1, 2011 yea when you look at countrys like greece and others where the economy falls,you see banks closing the doors and folk getting shafted.it concerns me cause if it does goes bad in the current climate.there no money left to bail us out.i always keep a bit ready cash but maybe we should consider what if the banks do go bust Quote Link to post Share on other sites
paulus 26 Posted December 1, 2011 Report Share Posted December 1, 2011 only got to look at what happened in iceland Quote Link to post Share on other sites
blan89 159 Posted December 1, 2011 Report Share Posted December 1, 2011 tangible investments,in the bank,under your mattress etc etc. i definitely wouldn't put all my eggs in one basket atm. Quote Link to post Share on other sites
Millet 4,497 Posted December 1, 2011 Report Share Posted December 1, 2011 I dont keep anything in the bank..i used to keep the bare minimum in for paying bill's..when i went through a bad patch several year's ago i got no help from the bank and they started slapping charge's on me for this and that which spiraled out of control..from now on they will never ever get another penny out of me. 5 Quote Link to post Share on other sites
Strong Stuff 2,171 Posted December 1, 2011 Report Share Posted December 1, 2011 only got to look at what happened in iceland Yes, truly shocking!!!! 3 Quote Link to post Share on other sites
forest of dean redneck 11,679 Posted December 1, 2011 Report Share Posted December 1, 2011 only got to look at what happened in iceland Yes, truly shocking!!!! http://www.youtube.com/watch?v=qYktaaEPXXo the long nose tart doing it now aint much better. Quote Link to post Share on other sites
WILF 47,344 Posted December 1, 2011 Report Share Posted December 1, 2011 The sooner the rediculous Euro and EU experiment ends, the better.......then we can all start to behave like a proper capitalist system and maybe earn a few quid. This odd socialist/capitalist thing they call European Union is plainy not working........they are spending YOUR money trying to prop up THEIR utopian dream! 6 Quote Link to post Share on other sites
dave1372 83 Posted December 1, 2011 Report Share Posted December 1, 2011 If you have cash that you would like to invest but are nervous (and rightly so) about investing in share/unit trusts etc then I would be investing in gold which is one of the safest investments in my opinion, it has been around for thousands of years! Look at the gold price history http://www.goldprice.org/gold-price-history.html . Given the current financial climates any other investment is very high risk in my opinion. Quote Link to post Share on other sites
Carraghs Gem 1,675 Posted December 1, 2011 Report Share Posted December 1, 2011 i think gold prices are echoing the housing boom. i dont trust it and im not buying into it. look at that link you posted at 34yr gold prices. saysit all sharp hike in prices from 2004 same pattern as housing boom. id sell gold now but i wont buy it. i will wait until gold prices fall drastically first. Quote Link to post Share on other sites
andyfr1968 772 Posted December 1, 2011 Report Share Posted December 1, 2011 If you have cash that you would like to invest but are nervous (and rightly so) about investing in share/unit trusts etc then I would be investing in gold which is one of the safest investments in my opinion, it has been around for thousands of years! Look at the gold price history http://www.goldprice...ce-history.html . Given the current financial climates any other investment is very high risk in my opinion. The problem with investing in gold is that the price just now is very high and with the risk of future uncertainty, it could well plummit. 2 Quote Link to post Share on other sites
scothunter 12,609 Posted December 1, 2011 Author Report Share Posted December 1, 2011 wish i had invested in gold ten year ago lol yea i hardly noticed the crunch fully,well until recently price of shopping,power,gas is spiralling out of control.i got a bad feeling about all this if the truth be told.thats why i asked the question.guess it wouldnt matter how much you had in hard cash.if it all goes tits up.it wont be worth f**k all anyway. bit of topic but also heard the tories are gonna be giving a 50%discount on concil tennants to buy there house.they were gonna scrap that a few year back.never trusted that scheme tbh. Quote Link to post Share on other sites
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