If all the banks end up nationalised or collapsed?
Discussion
Wouldn't worry - its not going to happen. If it does, we will have bigger problems like no food in the supermarkets, no fuel in the petrol stations and no money in the banks. So its all pretty academic then - we are all 
.
I have no idea, but my guess would be that we would still have something, but it would be wrapped in rampant inflation and some form of communist state - since this would be the only way that the government could actually do anything - nationalise EVERYTHING....
So we are screwed either way.
.I have no idea, but my guess would be that we would still have something, but it would be wrapped in rampant inflation and some form of communist state - since this would be the only way that the government could actually do anything - nationalise EVERYTHING....
So we are screwed either way.
off_again said:
I have no idea, but my guess would be that we would still have something, but it would be wrapped in rampant inflation and some form of communist state - since this would be the only way that the government could actually do anything - nationalise EVERYTHING....
And people ask "How could the Government let this happen?"They engineered it. Or would, if they had the intelligence.
Its disgusting that this has happened but not surprising. The current Govt haven't a clue how to run anything let alone a country. All the governing bodies have been toothless since Nu Labour took over. Ofcom , competition commision , FSA etc etc all the mehanics were there to prevent the current scenario but they simply weren't used.
This govt has been the destroyer of all the old wives tales, built on genertions of experience.
Spare the rod and spoli the child
Don't borrow more than you can afford to pay back
neither a lender or borrower be
Cut your cloth accordingly
etc etc etc
Now of course all the old wives tales have come back to bite us all with a vengeance.
As for if the banks collapse. It could happen.
HBOS saved by Lloyds but the irony is Lloyds balance of assets was actually worse than HBOS.
So from two shakey banks a supersized shakey bank is formed.
What has actually happened is the banks bought in to worthless property and your money and mine has been thrown away literally.
There will be nothing left as all the money you paid for being overdrawn all the excess charges that were taken all the profits the banks made have all gone into the same leaky pot.
So basically we are screwed.
This is where a global economy is a farce and not the ultimate it was claimed to be.
In a non global economy pockets of growth still survive in a global economy its possible for a complete meltdown of the world economy.
I can't see a solution. I was put out of business by Chinese imports. I was going to set up a Chinese factory but glad I didn't now. My money went into property and was lost and unemployment is the new phantom.
Dreadful times ahead.
This govt has been the destroyer of all the old wives tales, built on genertions of experience.
Spare the rod and spoli the child
Don't borrow more than you can afford to pay back
neither a lender or borrower be
Cut your cloth accordingly
etc etc etc
Now of course all the old wives tales have come back to bite us all with a vengeance.
As for if the banks collapse. It could happen.
HBOS saved by Lloyds but the irony is Lloyds balance of assets was actually worse than HBOS.
So from two shakey banks a supersized shakey bank is formed.
What has actually happened is the banks bought in to worthless property and your money and mine has been thrown away literally.
There will be nothing left as all the money you paid for being overdrawn all the excess charges that were taken all the profits the banks made have all gone into the same leaky pot.
So basically we are screwed.
This is where a global economy is a farce and not the ultimate it was claimed to be.
In a non global economy pockets of growth still survive in a global economy its possible for a complete meltdown of the world economy.
I can't see a solution. I was put out of business by Chinese imports. I was going to set up a Chinese factory but glad I didn't now. My money went into property and was lost and unemployment is the new phantom.
Dreadful times ahead.
mark69sheer said:
Its disgusting that this has happened but not surprising. The current Govt haven't a clue how to run anything let alone a country. All the governing bodies have been toothless since Nu Labour took over. Ofcom , competition commision , FSA etc etc all the mehanics were there to prevent the current scenario but they simply weren't used.
Why should the government know how to run a private enterprise like a bank?chris_w666 said:
As the title. If that happened what would be the consequences?
Would money be worthless?
How would we buy goods and services?
1. If the banks failed, other entrepreneurs would create new banks from the wreckage. Those banks would be free of debt, and would attract all the savings in the market.Would money be worthless?
How would we buy goods and services?
2. No. Bank of England has a promisary on each note. Its not the BoE thats broke. Yet. And if it did, you simply peg the value of the £ to the value of land like they did in Germany after WW2.
3. Same way you would now. You'd just have a new bank.
Fittster said:
mark69sheer said:
Its disgusting that this has happened but not surprising. The current Govt haven't a clue how to run anything let alone a country. All the governing bodies have been toothless since Nu Labour took over. Ofcom , competition commision , FSA etc etc all the mehanics were there to prevent the current scenario but they simply weren't used.
Why should the government know how to run a private enterprise like a bank?Ironically they do have to know how to run a bank now and it won't be long before they start breaking the law to be competative in the same way that local coucils tear up the rule books when their own land can make a profit.
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