In January of this year £2.3 billion was withdrawn from personal bank accounts and a further £0.4 billion from building societies. Figures for February should be out in the next couple of weeks. It sounds like a lot of money until you consider that johnny-foreigner withdrew about £380 billion from the UK in the last quarter of 2008. Maybe what cynicus economicus describes as the silent bank run has already started.
The Lobby Group
- to affect public sector decisions in the UK.
The Latest From www.politics.co.uk
- Gove shrugs off academy outrage July 30, 2010
- Council tax 'vetoes' on offer July 30, 2010
- David Miliband remains Labour frontrunner July 30, 2010
- Osborne crushes MoD's Trident hopes July 30, 2010
- Scientists warn ministers of 'false economy' July 30, 2010
- Welfare reform vision unveiled July 30, 2010
- Iraq inquiry: Prescott dismisses 'tittle-tattle' intelligence July 30, 2010
- Expenses MPs lose privilege appeal July 30, 2010
- Blunt Cameron stands by Pakistan comments July 29, 2010
- Indian 'jobs mission' reaps results July 29, 2010
Other links
If you think there's still hope:
Contact your local elected officials - for free
Find out more about your MP/ MSPs/ MLAs
Stuck for words?
If you think nothing will stop things getting worse:
ArchDruid Report
Frugal Living
Land Share
CSA
If you want an alternative outlook:
The Daily Mash
The Spoof
Contact your local elected officials - for freeFind out more about your MP/ MSPs/ MLAsStuck for words?If you think nothing will stop things getting worse:
ArchDruid ReportFrugal LivingLand ShareCSAIf you want an alternative outlook:
The Daily MashThe Spoof
by kiki-dread
16 Mar 2009 at 08:25
Global US and foreign banks based in the UK have migrated stocks and cash back to their local custodians, but the sub-prime investments / debts was the equivalent of burning money by our banks who invested in fixed income instruments (US assets) which are worth a small percentage of the price paid
by Alexander Curzon
16 Mar 2009 at 15:08
CASH UNDER THE BED?
ITS SIMPLY NOT WORTH KEEPING MONEY IN UK BANKS
NO INTEREST NO SECURITY ETC ETC.
THE PUNTERS WANT SAFE DEPOSIT HOLDERS NOT GORDYS
SPEND AND BURN POLICIES. . .
by Jericoa
16 Mar 2009 at 15:45
Hopefully the silent bank run will start to grow into a more noisy affair soon and with a moral voice behind it.
Time to start taking a stand.
by kiki-dread
17 Mar 2009 at 02:27
another problem factor is our government has followed the same
greed fixation to extort the maximum money as used in banking
e.g. disproportionate fines, additional late fees, notional court fees
councils primarily more concerned with money collection than services
councils making bad investments in sub-prime assets, pension funds
dumbing down of staff, automated processing, reliance on technology
by Jericoa
18 Mar 2009 at 11:45
kiki
That link in of banks and government behaviour both big and small is an astute observation. It all has the same creeping slowly just under the radar of action, stiffling, uncomfortable feel about it. We need to learn to be alive again.
I have quite afew ideas on that.
by John Bray
18 Mar 2009 at 12:15
Kiki
“Global US and foreign banks based in the UK have migrated stocks and cash back to their local custodian”.
That I can understand and I can understand why they would. But doesn’t it mean that the UK banks will have less money available to lend out?
by kiki-dread
18 Mar 2009 at 13:26
Jericoa, the powers that be have experience in subordinating local
interests to their general interests, (which is not devoted essentially to
the general interests of mankind). They never admit to anything when
challenged so you have to word your meanings correctly in order to
prevail not fail. Look at it as never ending battle between the have’s and
the have not’s. Sometimes the have’s win and sometimes the have not’s
prevail
John, thats their prerogative (US/foreign owners) bought uk banks and
call the shots, they also stopped lending billions each day, and sold
over-valued MBS securities to our fund managers which means our banks are now living in hock
by Jambo
18 Mar 2009 at 16:30
Step closer to moving money out of UK PLC.
Still opting for: NZ Gov Bonds and Large Cap companies with low debt and resource rights.
Anyone got other ideas for real safe havens? (If you keep your money under the bed it can be stolen with a printing press or the *tappity* of a num pad).
by John Bray
18 Mar 2009 at 23:37
Farmland may be worth thinking about. Then you’ll still be able to feed yourself should the worst-case happen and money ceases to have any meaning. And a bit of woodland for winter fuel maybe?