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Protect your cash!

Community Veteran
Posts: 2,377
Thanks: 244
Fixes: 2
Registered: 04-08-2009

Protect your cash!

If you have any savings at all of any kind, and you don't relish the prospect of negative interest rates, sign this. And if you think it's pie in the sky take a look at what Sweden, Denmark, Japan, Switzerland etc are doing.

Rising Star
Posts: 2,297
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Registered: 19-07-2007

Re: Protect your cash!

Negative interest rates really aint all that bad.  It's a punishment really for banks, because the interest rates are in the minus, any money the banks store (not lending or spending) instead of earning interest on that cash from the BoE they are actually paying interest on their savings.  Interest rates have been at 0.5% for quite a while now, has the interest you earn been 0.5% or higher? 


If anything we do not want interest rates to rise, it's okay for the older generation who took advantage of buying their council houses on the cheap, paid off their mortgage and are now banking on their savings, higher interest rates don't affect their mortgage, but we have a generation of people who are used to low interest rates on their mortgages, if the interest rates go up, their mortgages go up and with money still being pretty tight then I think having negative rates to get banks borrowing can only be a good thing.

Posts: 5,712
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Registered: 11-02-2013

Re: Protect your cash!



I take the opposite view, if the interest rates don't go up soon those old people will be running out of savings as there not generating enough interest to live off and less deposit cash will be around for the banks to lend against, house prices have been held artificially high for over a decade and its long past time that situation was rectified,  what the country needs ideally is a return to standard interest rates of around 4 >5% so that money on deposit is finally generating a return and a lot of people go bankrupt flooding the housing market with cheap prices and undoing the hyper inflation that was artificially created via several frauds in 2003 that will in turn cut down all the other over priced items in the country and return us to a proper inflow /outflow situation, of course doing it now before the EU vote would be risky so the BoE wont do anything (because the EU wont provide any assistance for us) and doing it after we vote to leave would be too risky to the total economy s owe will be stuck at near zero or negative interest rates instead of able to flex up /down to more normal rates of between 2 and 15% which provides good rates for everyone and is what happens in a healthy economy instead of everything being stagnated around the zero point where growth is held back just to prevent a long overdue revaluation of asset pricing ....

just because your paranoid doesn't mean they aren't out to get you
Rising Star
Posts: 4,498
Thanks: 46
Registered: 13-04-2007

Re: Protect your cash!

We paid off our mortgage ( not on cheap council house) 16 years ago and remember paying about 15% at one time.


Be nice if interest rates did rise as mattress is getting more and more lumpy Thumbs Up


Community Veteran
Posts: 5,820
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Registered: 23-09-2010

Re: Protect your cash!

David_W wrote:If anything we do not want interest rates to rise, it's okay for the older generation who took advantage of buying their council houses on the cheap, paid off their mortgage and are now banking on their savings




High interest rates.....

As one of the "older generation" it was 10% plus when buying my house. But for all the whining and praising of so called low interest rates things were easier then money wise. It was more than offset by the same high interest rates on savings.


Things now are far to one sided. With ridiculous rates on savings. And borrowers actually laughably buying into this illusion and thinking they are so much better off. The reality being only the banks are really better off.