Are our banks credible financial institutions or a comedy act.?
I'm sure most of us are familiar with the saying " if you find yourself in a hole stop digging"
Despite all that has happened before, they plan to charge anyone for depositing our money with them.
You couldn't make it up !! |
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By (user no longer on site)
over a year ago
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"Are our banks credible financial institutions or a comedy act.?
I'm sure most of us are familiar with the saying " if you find yourself in a hole stop digging"
Despite all that has happened before, they plan to charge anyone for depositing our money with them.
You couldn't make it up !!"
Most banks don't want to be on the high street with current account holders. If memory serves, its only been pressure from our governments that stop them pulling the plug or charging. |
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By (user no longer on site)
over a year ago
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When interest rates are so low as they are now, the normal tactic of lowering rates to stimulate spending rather than saving doesn't work as there's no more room to reduce them further without going below zero.
So negative rates are the only way that's left to go sadly ... |
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By *abioMan
over a year ago
Newcastle and Gateshead |
"I think negative interest rates is to encourage people to take loans therefore boosting he economy.
I'm not in finance, I might be wrong."
the economic theory behind it that it then says to business "there is no point in hoarding money away in bad times" so you may as well invest... its a tool to keep the ecomony from slowing down more than in it is likely to do in the next few months....
japan did the same thing during the last worldwide recession, the bank of japan interest rate got down to -0.25% |
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By *abioMan
over a year ago
Newcastle and Gateshead |
"Are our banks credible financial institutions or a comedy act.?
I'm sure most of us are familiar with the saying " if you find yourself in a hole stop digging"
Despite all that has happened before, they plan to charge anyone for depositing our money with them.
You couldn't make it up !!"
two other things....
1) on a lot of accounts you are already charged a monthly fee... so in effect they are already doing this......
2) on just the very basic personal "current accounts" they won't do this anyway.... because they need your money to invest to make them money.... so they will always give you an interest rate to tempt you to give them your money!!!!! |
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By (user no longer on site)
over a year ago
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I find it amusing we believe the banks hold the power! Its our money!
We also have some of the best corporate taxes in the world to encourage business....now why would they put this into effect? Seems a little crazy to me |
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At present they're just notifying customers of new terms and conditions that include this option.
Like many things, once it's there it can be implemented fairly silently.
I won't pay for standard high street bank services extra accounts as it is.
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Give us no or negative interest to encourage us to spend more and boost the economy. Borrow more and buy crap we don't need.
Meanwhile the government cuts spending and borrowing.
Something is wrong with the whole bloody system. |
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"Are our banks credible financial institutions or a comedy act.?
I'm sure most of us are familiar with the saying " if you find yourself in a hole stop digging"
Despite all that has happened before, they plan to charge anyone for depositing our money with them.
You couldn't make it up !!"
And when interest rates inevitably rise they are facing the biggest mortgage defaults in history.
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While government borrowing will incur less interest which is good for us, the encouragement to spend can only get us buying foreign imports as we do not produce enough to spend our money on at consumer level. |
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By (user no longer on site)
over a year ago
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"Are our banks credible financial institutions or a comedy act.?
I'm sure most of us are familiar with the saying " if you find yourself in a hole stop digging"
Despite all that has happened before, they plan to charge anyone for depositing our money with them.
You couldn't make it up !!
And when interest rates inevitably rise they are facing the biggest mortgage defaults in history.
"
Thus allowing housing associations to buy up the properties to rent out to people who can't afford a mortgage. |
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