JFKvsNixon Posted June 15, 2012 Share Posted June 15, 2012 The banks will now be increasingly worried about their exposure to the Eurozone so they will probably look to cut back on their lending, hopefully this money will cover some it. Link to comment Share on other sites More sharing options...
MrSmith Posted June 15, 2012 Share Posted June 15, 2012 Just ask yourself this : DO WE REALLY NEED THE BANKS ? Local credit unions are registered under the FSA , and , just like "real" (haha) banks , savings of up £85,000 are guaranteed should the "bank" fail . Credit unions are : ETHICAL TRANSPARENT VERY DEMOCRATIC If more people with savings put their money into credit unions , people needing payday loans could go their local credit union rather than to Wonga . If more people invested , credit unions could lend to small businesses to kick-start the economy If more people invested , credit unions could make loans to first-time buyers . If someone gets a mortgage of £100,000 with a standard high street bank they currently pay around £85.000 in interest over the length of the mortgage ! Why not just buy the house outright with a loan from a more ethical credit union ?? I think the word "union" puts people off , maybe it's time for a re-branding exercise ? Maybe this is why people don't save. -Rothersave Credit Union Limited Do my savings attract interest? A. Yes if profits allow this, we have paid up to 3.5% and for the Financial Year ending 2010 our members received a dividend of 0.5%. Dividends are not taxed at source. I can already get a guaranteed 3.5% so why save with them when it’s not guaranteed. Link to comment Share on other sites More sharing options...
I1L2T3 Posted June 15, 2012 Share Posted June 15, 2012 Actually looks designed to get inflation back up again. Just found out that NS&I will not be offering inflation linked certs this year. It's basically a slow motion managed default by the government and BofE. Just keep printing. Keep devaluing the pound. Keep inflation up. Keep interest rates low. Financial repression. Link to comment Share on other sites More sharing options...
wednesday1 Posted June 15, 2012 Share Posted June 15, 2012 I can think of at least one guy who must be getting a good laugh out of all this. King Canute. I thought you were gonna say your hero, David Icke! Link to comment Share on other sites More sharing options...
Vincero dOro Posted June 15, 2012 Share Posted June 15, 2012 Just ask yourself this : DO WE REALLY NEED THE BANKS ? Local credit unions are registered under the FSA , and , just like "real" (haha) banks , savings of up £85,000 are guaranteed should the "bank" fail . Credit unions are : ETHICAL TRANSPARENT VERY DEMOCRATIC If more people with savings put their money into credit unions , people needing payday loans could go their local credit union rather than to Wonga . If more people invested , credit unions could lend to small businesses to kick-start the economy If more people invested , credit unions could make loans to first-time buyers . If someone gets a mortgage of £100,000 with a standard high street bank they currently pay around £85.000 in interest over the length of the mortgage ! Why not just buy the house outright with a loan from a more ethical credit union ?? I think the word "union" puts people off , maybe it's time for a re-branding exercise ? The problem with any type of loan is that there is a risk of the borrower defaulting and not paying the money back. This is why some loans are made at higher rates than others, and some investments pay higher returns than others. If you want a great return of around 30% lend some money to the Greeks. You'll get around 30% but probably will never see your money again. Its all very well folks shouting about banks loaning more money to companies to get the country moving. But again there is no uarantee that the lender will recoup the loan. It is very popular to blame the financial crisis on the banks. But the banks were victims of the system. They lent money to house buyers and businesses who defaulted on the loan and left the banks with the debts. A credit union is no different from a bank. If it lends money at a rate that doesn't reflect the risk it will joing RBS etc in requiring a government bale out. Link to comment Share on other sites More sharing options...
I1L2T3 Posted June 15, 2012 Share Posted June 15, 2012 The problem with any type of loan is that there is a risk of the borrower defaulting and not paying the money back. This is why some loans are made at higher rates than others, and some investments pay higher returns than others. If you want a great return of around 30% lend some money to the Greeks. You'll get around 30% but probably will never see your money again. Its all very well folks shouting about banks loaning more money to companies to get the country moving. But again there is no uarantee that the lender will recoup the loan. It is very popular to blame the financial crisis on the banks. But the banks were victims of the system. They lent money to house buyers and businesses who defaulted on the loan and left the banks with the debts. A credit union is no different from a bank. If it lends money at a rate that doesn't reflect the risk it will joing RBS etc in requiring a government bale out. I just fell off my chair. :hihi: Link to comment Share on other sites More sharing options...
NorthernStar Posted June 15, 2012 Share Posted June 15, 2012 The problem with any type of loan is that there is a risk of the borrower defaulting and not paying the money back. This is why some loans are made at higher rates than others, and some investments pay higher returns than others. If you want a great return of around 30% lend some money to the Greeks. You'll get around 30% but probably will never see your money again. Its all very well folks shouting about banks loaning more money to companies to get the country moving. But again there is no uarantee that the lender will recoup the loan. It is very popular to blame the financial crisis on the banks. But the banks were victims of the system. They lent money to house buyers and businesses who defaulted on the loan and left the banks with the debts. A credit union is no different from a bank. If it lends money at a rate that doesn't reflect the risk it will joing RBS etc in requiring a government bale out. The bankers knowingly lent the money and profited in doing so, they were supposed to be professional, but instead went for making the fast buck like a rogue dentist or a cowboy builder by putting profit above professionalism. They took advantage of the fact that people would trust the professionals - the banking industry is being run by arrogant thieves not processionals, many of these people should be jailed for what they have done IMO. Now the whole financial industry is like economic cancer and we need to find a way of cutting it out or face economic strangulation. Credit unions are an interesting possible alternative for people, especially if they are backed by the FSA to protect the savings of investors. Link to comment Share on other sites More sharing options...
saunaman Posted June 15, 2012 Share Posted June 15, 2012 WHY do you think the banks allowed people to take out mortgages which were over 6 times' their annual salary ? It used to be 2 1/2 times' annual salary . This has led to over-inflated house prices , meaning that only those with lots of money have a chance of getting on the property ladder . Don't tell me that the price of bricks doubled over 10 years ! The ridiculous price of housing is purely due to MANIPULATION BY THE BANKS , I suspect they knew exactly what they were doing at the time , creating "wage slaves" who are terrified of losing a roof over their head if they lose their jobs , the threat of WorkFare and the friendly hand of Wonga ready to help them out ......( watch 97% Owned on Youtube ) I think the "elite" need to start listening to the working man , and start to get scared as they realise what "people power" really means .We need to start making credit unions fit for purpose , there ARE grounds to be positive about the future if we take our heads out of the sand and wake up to the fact that there's more to life than Cath Kidson stuff , cookery books and those annoying Big Brother type mugs with the logo " KEEP CALM AND CARRY ON". Link to comment Share on other sites More sharing options...
grafikhaus74 Posted June 16, 2012 Share Posted June 16, 2012 Well, well, well! (As Jeremy Kyle would say ) Seems everybody is in agreement for once. The criminal bankers and useless politicians have caused all this and, as ever, we the people will have to take the hit. Regardless of all the hype and opinions of the 'experts' (who got us here in the first place), the end game is nigh. They can predict all the gloom and doom they want if Greece doesn't deliver the 'right' result this weekend, but why should anybody listen to these people any more? This latest deperate act to give yet more money to the banks (and if anybody thinks they'll play by the rules and start lending, they're deluded) is exactly the same as any of us splashing out on a major purchase which we can't really afford. One day, it needs paying back - in our case in hard cash, in the Govt's case in slashing services and investment further. But wasting all these unimaginable sums of money, whether it's here, Greece, Spain, Italy etc., doesn't mask the inherent foolishness of thinking the Euro could possibly work. They can have as many G-this and G-that conferences they want, these people are utterly clueless. Link to comment Share on other sites More sharing options...
Mecky Posted June 16, 2012 Share Posted June 16, 2012 Well, well, well! (As Jeremy Kyle would say ) Seems everybody is in agreement for once. The criminal bankers and useless politicians have caused all this and, as ever, we the people will have to take the hit. Regardless of all the hype and opinions of the 'experts' (who got us here in the first place), the end game is nigh. They can predict all the gloom and doom they want if Greece doesn't deliver the 'right' result this weekend, but why should anybody listen to these people any more? This latest deperate act to give yet more money to the banks (and if anybody thinks they'll play by the rules and start lending, they're deluded) is exactly the same as any of us splashing out on a major purchase which we can't really afford. One day, it needs paying back - in our case in hard cash, in the Govt's case in slashing services and investment further. But wasting all these unimaginable sums of money, whether it's here, Greece, Spain, Italy etc., doesn't mask the inherent foolishness of thinking the Euro could possibly work. They can have as many G-this and G-that conferences they want, these people are utterly clueless. No they haven't, it's all Labour's fault. Link to comment Share on other sites More sharing options...
Recommended Posts
Archived
This topic is now archived and is closed to further replies.