Get all cash out of the bank

[The General]

Seriously get all your cash out of the bank as soon as possible.

It's only a matter of time before a High St bank in the UK fails again and the government won't be able to bail it out.

I appreciate the combined net worth of the board is around 50p but once people realise that 97% of 'money' doesn't exist in a tangible paper form there will be a stampede to get cash out.

But there won't be any.



I Don't want to spread alarm or anything.

[noel]

Interesting advice. What would you suggest we all do with our money once we take it out of the bank?

I think even in the currently unstable financial situation, a bank is more safe than under your mattress.

Perhaps the better advice would be diversify your assets to minimise the effect of one financial institution going under.

[stevefoster]

No problem for me, i spend it quicker than i earn it

[Wheeze]

Don't be silly. It's such herd mentality that only makes things worse.
Steady as she goes cap'n.

Until this all blew up I had absolutely NO idea that banks were doing such daft things as lending people more than 100% of the value of the property they were buying. How incredibly stupid and how cretinous to prey on the greed of people.

[Stolly]

Well as a "professional" financial adviser my (just this once only ) free advice is to stick it all with Northern Rock if your worried. What better than a government owned bank?

[CL]

Don't be silly. It's such herd mentality that only makes things worse.
Steady as she goes cap'n.

Until this all blew up I had absolutely NO idea that banks were doing such daft things as lending people more than 100% of the value of the property they were buying. How incredibly stupid and how cretinous to prey on the greed of people.

Yes how greedy of the government's bank(the bank of England)to lend so much money to the banking institutions, when they knew that the people they lent to, wouldn't be able to pay it back.

[daz h]

http://www.telegraph.co.uk/money/mai...3/cnsls103.xml

stop panicking
they have only borrowed 200billion
shittttttttttttttttttttttttttttttttttttttttttttttt ttttttttttttttttt

[CL]

I mentioned on 'The land of giants' thread that the fruit pastilles I buy from Tesco had gone up by about 13%. That was some months ago. Well in the past month they've gone from 45p to 85p in one jump.

Allan Greenspan was on the news last night saying he'd never seen anything like it in his lifetime(He's in his eighties now). We could see the collapse of the £, and if that happens it won't matter where you keep your money, because it won't be worth anything except as fuel for the fire.

[Fleeter]

i wish i had some cash to withdraw

[AllanT]

Would any of the forum ladies like me to give them a large deposit??????....