Lxxx Posted December 12, 2011 Share Posted December 12, 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. No amount of foresight would would convince people, which ever way you look at it, there will allways be 1 or 2 that want it all for themselfs, just look back in history to see that. Which is why building a community is vital, to act as a deterrent against the idiots who fail to see the bigger picture. Link to comment Share on other sites More sharing options...
Evil Goblin Posted December 12, 2011 Share Posted December 12, 2011 Haven't got a clue about economics Don't worry -most economists haven't either, which is one reason why things are the mess they are. Link to comment Share on other sites More sharing options...
Nom de plume Posted December 12, 2011 Share Posted December 12, 2011 Anybody struggling with the IOM Bank recently in terms of securing business or personal finance? Usually a good indicator. Link to comment Share on other sites More sharing options...
sm-iom Posted December 12, 2011 Share Posted December 12, 2011 It's a mad mad time, I didn't watch the tv show but MrBees is watching the eurozone thing like a hawk. Everyone should move all their money to Conister bank, it's Manx and at least that way theres a few quid over here, not that it'll be worth much - ahck hey ho, hard times ahead. Our government really are not clever enough to deal with this, maybe some civil servants could some up with a plan? Do Conister keep it all in a special box with your name on it for you? Or, do they in turn lend it on, seeking the best overnight treasury rates they can (and in turn paying the minimum they can get away with). The 'problem' the likes of RBS had was that they were too big to fail - so, your money was safest with them, as Uk government bailed them out. Now that they're getting healthier, with less nasty debt and better liquidity there's less need for Uk government support, meaning their credit rating gets downgraded. A stupid vicious circle that causes lack of confidence.... Link to comment Share on other sites More sharing options...
G_Kelly Posted December 12, 2011 Share Posted December 12, 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. No amount of foresight would would convince people, which ever way you look at it, there will allways be 1 or 2 that want it all for themselfs, just look back in history to see that. Which is why building a community is vital, to act as a deterrent against the idiots who fail to see the bigger picture. only 200000 odd years and waiting Link to comment Share on other sites More sharing options...
jeffontherock Posted December 12, 2011 Author Share Posted December 12, 2011 Best banks to keep your money safe!!!!!!!!! http://seekingalpha.com/article/313270-to-bank-or-not-to-bank according to this analyst its Canada, Oz, Norway and a couple of other safe havens. UK is not mentioned! Link to comment Share on other sites More sharing options...
thebees Posted December 12, 2011 Share Posted December 12, 2011 Do Conister keep it all in a special box with your name on it for you? Or, do they in turn lend it on, seeking the best overnight treasury rates they can (and in turn paying the minimum they can get away with). Silly old me, I thought they financed purchases for people in the IoM with their funds but now you've mentioned it.....you're probably right. bahhh, that scuppers my ideas somewhat. It's for the best, so thanks for pointing that out. Link to comment Share on other sites More sharing options...
Lxxx Posted December 12, 2011 Share Posted December 12, 2011 Are there any credit unions on the island? Link to comment Share on other sites More sharing options...
jeffontherock Posted December 12, 2011 Author Share Posted December 12, 2011 thats what we need a credit union! but where would they keep our money? in a bank? Link to comment Share on other sites More sharing options...
jeffontherock Posted December 12, 2011 Author Share Posted December 12, 2011 or locked up in a safe, or lent to other credit union members? what happens if there is a "bank holiday" and sterling is devalued by the UK Gov? would Manx Currency also be devalued? beginning to wonder if its safer to buy some gold and silver coins, right throughout history they have NEVER lost all of their value, unlike many fiat currencies! Link to comment Share on other sites More sharing options...
Lxxx Posted December 12, 2011 Share Posted December 12, 2011 I'm sure there must be some finance bods on these forums who could advise if there were any. Google searches aren't showing much...maybe for a good reason. Link to comment Share on other sites More sharing options...
Lxxx Posted December 12, 2011 Share Posted December 12, 2011 or locked up in a safe, or lent to other credit union members? what happens if there is a "bank holiday" and sterling is devalued by the UK Gov? would Manx Currency also be devalued? beginning to wonder if its safer to buy some gold and silver coins, right throughout history they have NEVER lost all of their value, unlike many fiat currencies! Don't mention gold and silver on these boards!! You'll be labelled a nutter before you can say 'tin hat!' Link to comment Share on other sites More sharing options...
MilitantDogOwner Posted December 12, 2011 Share Posted December 12, 2011 or locked up in a safe, or lent to other credit union members? what happens if there is a "bank holiday" and sterling is devalued by the UK Gov? would Manx Currency also be devalued? beginning to wonder if its safer to buy some gold and silver coins, right throughout history they have NEVER lost all of their value, unlike many fiat currencies! Don't mention gold and silver on these boards!! You'll be labelled a nutter before you can say 'tin hat!' Lexx = Gold and Silver Exchange employee. Link to comment Share on other sites More sharing options...
Lxxx Posted December 12, 2011 Share Posted December 12, 2011 or locked up in a safe, or lent to other credit union members? what happens if there is a "bank holiday" and sterling is devalued by the UK Gov? would Manx Currency also be devalued? beginning to wonder if its safer to buy some gold and silver coins, right throughout history they have NEVER lost all of their value, unlike many fiat currencies! Don't mention gold and silver on these boards!! You'll be labelled a nutter before you can say 'tin hat!' Lexx = Gold and Silver Exchange employee. Well that makes about as much sense as keeping all your money in a high street bank. If I were a gold and silver exchange employee I'd be advising people to sell their gold and silver 'while prices are high.' My advice is, if you do have it, do not sell at any price and if you do have any spare currency sat in bank then I would advise spending it on gold and silver bullion and coins. But as always, that's just my opinion, people will do whatever they feel comfortable with and if you haven't done the research I can well understand opting for cash, as that's people's comfort zone, however misguided that notion is. Link to comment Share on other sites More sharing options...
slinkydevil Posted December 12, 2011 Share Posted December 12, 2011 Link to comment Share on other sites More sharing options...
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