Would alot of money be completley safe in Northern Rock?
Discussion
Sorry for another money thread but would large sum's of money be completely safe in ~Northern Rock as its a government owned bank? or do they only cover up to 50,000
If somebody would be looking to move close to £900k, would there be a safe place to put it except gold etc? or under your matress lol
cheers
If somebody would be looking to move close to £900k, would there be a safe place to put it except gold etc? or under your matress lol
cheers
Better options elsewhere for that amount of cash.
Offshore accounts are now offering higher guaranteed amounts to all customers with generally better returns as well.
Standard Bank have a safe business model and are offering some interesting options.
Depends on how you feel about being geographically close to your money and having to do tax returns that incorporate offshore accounts.
Offshore accounts are now offering higher guaranteed amounts to all customers with generally better returns as well.
Standard Bank have a safe business model and are offering some interesting options.
Depends on how you feel about being geographically close to your money and having to do tax returns that incorporate offshore accounts.
'Guarantees' are worthless promises. If the world economy fails then so do the guarantees, along with pensions and investments.
Spreading the risk sounds like good advice. Apart from the fact that if you spread risk you increase chance of losing some. If you have your money in 20 banks and 2 of them fail then you risk losing some of you money. You then have to hope that the collapse that caused these banks to fail doesnt also take out their guarantees on you deposits.
Where do the seriously rich invest their money during these times of uncertainty?
Spreading the risk sounds like good advice. Apart from the fact that if you spread risk you increase chance of losing some. If you have your money in 20 banks and 2 of them fail then you risk losing some of you money. You then have to hope that the collapse that caused these banks to fail doesnt also take out their guarantees on you deposits.
Where do the seriously rich invest their money during these times of uncertainty?
Tony*T3 said:
'Guarantees' are worthless promises. If the world economy fails then so do the guarantees, along with pensions and investments.
Spreading the risk sounds like good advice. Apart from the fact that if you spread risk you increase chance of losing some. If you have your money in 20 banks and 2 of them fail then you risk losing some of you money. You then have to hope that the collapse that caused these banks to fail doesnt also take out their guarantees on you deposits.
Where do the seriously rich invest their money during these times of uncertainty?
When their fear turns to stark reality they invest it in business, and the cycle restarts.Spreading the risk sounds like good advice. Apart from the fact that if you spread risk you increase chance of losing some. If you have your money in 20 banks and 2 of them fail then you risk losing some of you money. You then have to hope that the collapse that caused these banks to fail doesnt also take out their guarantees on you deposits.
Where do the seriously rich invest their money during these times of uncertainty?
When you can't put money into a bank, then you give it to people as wages. You get them to develop something that is more valuable in future. The turning of the economy depends singularly on the wealthy using their wealth to capitalise on what others will want, rather than on buying the things that they want for themselves.
Edited by dilbert on Tuesday 11th November 09:31
dilbert said:
The turning of the economy depends singularly on the wealthy using their wealth to capitalise on what others will want, rather than on buying the things that they want for themselves.
That's clever, I like it.Right, (opens wallet) what do you lot want?
Hang on, this may go horribly wrong...
Simpo Two said:
dilbert said:
The turning of the economy depends singularly on the wealthy using their wealth to capitalise on what others will want, rather than on buying the things that they want for themselves.
That's clever, I like it.Right, (opens wallet) what do you lot want?
pack of pickled onion monster munch and a curly wurly please
Hang on, this may go horribly wrong...
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