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UK banks given 6 months to prepare for the possibility of negative interest rates


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I knew something was coming.

 

One way or another they're going to take away what savings people have.

 

Either through bail-ins, hyper-inflation, currency devaluation or negative interest rates.

 

Get out of cash people and into assets.......... physical gold, silver, or whatever you can buy, store and will keep its value.

 

 

 

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On 2/4/2021 at 6:51 PM, Seeker said:

https://www.google.co.uk/amp/s/amp.theguardian.com/business/2021/feb/04/uk-banks-given-six-months-to-prepare-for-negative-interest-rates

 

im not sure what the full implications of this are, obviously not good for anyone with savings or a pension. Possibility of this being a stepping stone to the great reset? 

It's basically the central banks smoking crack. They've fkd the economy. They are unwilling to raise interest rates which we need if we want the economy to get back. SO they think the only thing they can do is make them negative. This is the only way for them to get people to spend spend and borrow borrow. 

 

USually when they talk about interest rates they're talking about the rates that banks lend to each other, different to rates a saver would get. Albeit it wouldn't be outside the realms for negative rates to filter to the consumer. But doesn't make much difference. You get 0.01% now, may get -0.01% tomorrow. Both are useless and neither are options for preserving wealth. Even with the +0.01% you have to factor in inflation which I would say is at least 8%, if you believe the government then maybe a lot lower they aim for 2%. So even if you go with that figure, effectively you already have a negative saving interest rate of -1.099% they just don't sell it to you this way! 

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  • 4 weeks later...
On 2/4/2021 at 6:51 PM, Seeker said:

https://www.google.co.uk/amp/s/amp.theguardian.com/business/2021/feb/04/uk-banks-given-six-months-to-prepare-for-negative-interest-rates

 

im not sure what the full implications of this are, obviously not good for anyone with savings or a pension. Possibility of this being a stepping stone to the great reset? 

 

Probably explains why M&S Banking Group are pulling out, and closing all current accounts (though what the difference is with business accounts or other financial services I'm not expert enough to know...but Joe Public is always the loser).

 

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@Seeker
And Lloyd's announced today it will be becoming a landlord and buying up UK properties.  No problems as far as I see.

The article above is from the C***Guardian
Let's Look Closely At This Article.
Let's learn how the C***Guardian degenerates do their business.

The title of the article is : Bank of England: Rapid GDP Rebound

but if you look at the URL of their page it this:

https://www.theguardian.com/business/2021/feb/04/uk-banks-given-six-months-to-prepare-for-negative-interest-rates

UK Banks Given Six Months To Prepare For Negative Interest Rates

 

Do you see what kind of C-*-*-*-S  these people are.

That is what a journalist is today. 
A walking breathing C-*-*-*-S.

 

It is these "people" that have concocted the entire Covid bullshit.

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2 hours ago, Curious1 said:

Nationwide increased the interest rate for their 1 yr cash ISA from 0.25% to 0.4% this week. This rate is still half of what I get with them currently, but at least its moving in the right direction.  

Never used a building society, not even as a kid/teenager. I presume if the SHTF they'll be as vulnerable as highstreet banks?

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On 2/5/2021 at 3:45 AM, Truthspoon said:

I knew something was coming.

 

One way or another they're going to take away what savings people have.

 

Either through bail-ins, hyper-inflation, currency devaluation or negative interest rates.

 

Get out of cash people and into assets.......... physical gold, silver, or whatever you can buy, store and will keep its value.

 

 

 

Just coming back to this, what’s the best way to go about buying metals, to ensure it’s safe (online or physical) and that the items are real and not fake gold. Also this is all new to me about precious metals, why is precious metals good to invest in? I did notice the increase when things looked bad, and prices have gone down as it looks like the economy has hope (we all here know the game, it’s designed to be destroyed). Also even if we buy gold/ silver, is there a chance it can all be taken from us like the Feds did about 90 years ago? Punishable by £10k fines and 10 years in jail for not handing it in, if I remember right

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