Evil Goblin Posted December 11, 2011 Share Posted December 11, 2011 but cant the UK print money and Nationalize the banks? Yes, but the consequences for inflation would be such as to render your "protected" cash pretty well worthless. can the IOM do that?? No. arent the banks over here somehow inulated from the UK?? No and given the interlinking of the banks internationally the IoM/UK are not insulated from Euroland. Link to comment Share on other sites More sharing options...
jeffontherock Posted December 11, 2011 Author Share Posted December 11, 2011 Seems like the Isle of Man Gvernment arent very bright and thought it was a good idea to keep hold of their Greek Bonds!!!!!! UNBELIEVABLE!!!!!!!! http://www.iomtoday.co.im/news/isle-of-man-news/greek_crisis_hits_island_reserves_1_4010481 Im not as good at Maths as the IOM Government but i have just worked out that their investing finesse and insight into the development of this crisis has cost every resident of the Island about 28 pounds each calculated on the 2 million loss the IOM Government took on its 2.9 million of Greek Bonds. The really really scary thing is that they still have about 100 million invested in the Eurozone which is on the verge of a total equity and bond systemic collapse!!!! shouldnt the Government be shifting all investments straight into safe haven assets?? Swiss Bonds, Canadian Bonds, Physical Gold, or leave our money in the middle of the crisis?? Link to comment Share on other sites More sharing options...
Lxxx Posted December 11, 2011 Share Posted December 11, 2011 Obviously I don't know where exactly your funds are but to keep all on the IOM and subject to the manx dcs is IMPO very unwise I'm saying this with the KSF mess in mind If the European/UK banking system goes belly-up then so do the Banks on the Island. Most of their money is upstreamed to their UK parents anyway and if the UK parents really go deep underwater not even the UK and France, Germany, etc. can bail the system out. Looked at systemically, it is pointless to worry about the banks on the Island and not about the banks in the mainstream economies. but cant the UK print money and Nationalize the banks? can the IOM do that?? arent the banks over here somehow inulated from the UK?? Of course they can print money, and they will, to keep the giant ponzi scheme going as long as possible. This then leads to inflation, which is another reason to not leave large amounts in a bank account as not only does it have the huge counter-party risk of you losing it but it it also decreases in 'value' while it's sat there, with real inflation nearer 10% then the garbage RPI rate they keep rolling out in the media. Link to comment Share on other sites More sharing options...
Albert Tatlock Posted December 11, 2011 Share Posted December 11, 2011 What shall we invest in them? Guns, tinned food and hidden stocks of petrol for after the apocalypse? Link to comment Share on other sites More sharing options...
Evil Goblin Posted December 11, 2011 Share Posted December 11, 2011 What shall we invest in them? Guns, tinned food and hidden stocks of petrol for after the apocalypse? Don't forget a tin opener and boxes of matches! Plus the tin-foil hats. Link to comment Share on other sites More sharing options...
jeffontherock Posted December 11, 2011 Author Share Posted December 11, 2011 Panic over!!!!! the IOM Government have strong contingency plans for their medical services in the event of a crisis!!! They have enough to last about 2 days, then everyone can share their prescriptions!!!!! http://www.isleofman.com/News/article.aspx?article=41721 Link to comment Share on other sites More sharing options...
Lxxx Posted December 11, 2011 Share Posted December 11, 2011 What shall we invest in them? Guns, tinned food and hidden stocks of petrol for after the apocalypse? Invest in whatever you want sunshine. Link to comment Share on other sites More sharing options...
Evil Goblin Posted December 11, 2011 Share Posted December 11, 2011 Arguably the best investment people can make to be prepared for such disaster is to invest in what might be termed "social capital" - being involved with and co-operating with their fellows in the community. No matter how bad things might get materially if we all pull together and care about each other we will get by somehow - humans are very ingenious animals! The alternative is a dog eat dog world where there will be no such thing as security or peace of mind. Link to comment Share on other sites More sharing options...
G_Kelly Posted December 11, 2011 Share Posted December 11, 2011 The alternative is a dog eat dog world where there will be no such thing as security or peace of mind. You know this is the way it would go, survival of the fittest Link to comment Share on other sites More sharing options...
Albert Tatlock Posted December 11, 2011 Share Posted December 11, 2011 The alternative is a dog eat dog world where there will be no such thing as security or peace of mind. You know this is the way it would go, survival of the fittest Ah well, on a positive note at least that'll be the early demise of Estate Agents, Lawyers and most Bank workers. You can't eat spreadsheets and bank notes. Link to comment Share on other sites More sharing options...
Lxxx Posted December 11, 2011 Share Posted December 11, 2011 Arguably the best investment people can make to be prepared for such disaster is to invest in what might be termed "social capital" - being involved with and co-operating with their fellows in the community. No matter how bad things might get materially if we all pull together and care about each other we will get by somehow - humans are very ingenious animals! The alternative is a dog eat dog world where there will be no such thing as security or peace of mind. Spot on. I agree 100%. It's what I've been doing for a while now on this island. The way I look at it the better prepeared I am the more I can help other people who might not be in the same position, and this island is perfectly set up to foster a community spirit in the event of the sh*t hitting the fan, IF people take the right steps. Link to comment Share on other sites More sharing options...
Evil Goblin Posted December 11, 2011 Share Posted December 11, 2011 You know this is the way it would go, survival of the fittest I agree that this is a very real risk but it doesn't have to be that way, not if we all look to our enlightened self-interest. We have all to gain from co-operation rather than to sink to a survival of the fittest world. A bit of foresight should convince people of this. Link to comment Share on other sites More sharing options...
jeffontherock Posted December 11, 2011 Author Share Posted December 11, 2011 according to this analyst, the Royal Bank of Scotland is at risk of share price collapse! the Isle of Man Bank became part of Royal Bank of Scotland in 2000 http://seekingalpha.com/article/313085-is-the-eurozone-banking-system-about-to-collapse if Royal Bank of Scotland collapses will the IOM Gov protect the IOM Bank?? anyone?? Link to comment Share on other sites More sharing options...
jeffontherock Posted December 11, 2011 Author Share Posted December 11, 2011 BNP Paribas the large French bank has suffered such a severe share price crash that its shares are now lower than the crash that occurred post Lehman disaster. Interestingly enough BNP Paribas have not one but 2 operations on the Isle of Man and they have just been downgraded by Moody's Raings Service!!!! http://en.wikipedia.org/wiki/List_of_banks_in_the_Isle_of_Man Ring any bells??? KSF ??? anyone ?? have the Manx operations been down rated? have Manx investors been warned about the change of rating of the parent company?? Link to comment Share on other sites More sharing options...
Evil Goblin Posted December 11, 2011 Share Posted December 11, 2011 if Royal Bank of Scotland collapses will the IOM Gov protect the IOM Bank?? anyone?? Just ask yourself this question, Jeff - where would the IoM Government find the cash to bail out the IoMB? I don't think it is too difficult to figure out that the answer would be NO. Link to comment Share on other sites More sharing options...
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