Be honest

[Harbourwoodwork]

In the event of the Cypriot Bank crisis rolling across Europe, no matter what your polotics are and if you had the chance.

What would you do with your hard earned savings?

 

[joe-90]

it's going to happen. Better make your mind up.

 

[Biker1959]

In the event of the Cypriot Bank crisis rolling across Europe, no matter what your polotics are and if you had the chance.

What would you do with your hard earned savings?

It's already happened here- take into account tax increases to bail out the banks, inflation and the fact that interest paid to savers is so low the net result is that UK savers have had a "Stealth" haircut. The Cypriots are just getting theirs up front in full view.

 

[JohnD]

I'd spend my savings on a nice chocolate cake.

 

[pred]

Stick it into bricks & mortar, no not literary! Buy property..

 

[ntb]

In the event of the Cypriot Bank crisis rolling across Europe, no matter what your polotics are and if you had the chance.

What would you do with your hard earned savings?

It's already happened here- take into account tax increases to bail out the banks, inflation and the fact that interest paid to savers is so low the net result is that UK savers have had a "Stealth" haircut. The Cypriots are just getting theirs up front in full view.

Absolutely right.

There is no safe place currently for the little guy to store wealth. The best you can do is spread it out in multiple locations and assets.

We need to make it clear to the UK government that outright theft from us will have a very bad outcome and may see a return of the ancient tradition of lamp post decoration.

 

[ntb]

Stick it into bricks & mortar, no not literary! Buy property..

That's a pretty big gamble given what will happen to interest rates if things blow...

 

[TheVictorian]

Buy gold.

 

[joinerjohn]

Think I'll stick mine into property. I see Yeomans have a camping sale on at the moment so I'll buy a load of tents.

 

[JohnD]

Buy gold.

haha

what do you think the gold price is doing this year?

 

[ntb]

Gold was the obvious buy a few years ago. It's massively risky now. It may take off in response to another crisis but it is one of the first things to be sold off when a financial firm needs cash urgently.

 

[AronSearle]

what do you think the gold price is doing this year?

Kind of missing the point.

 

[Deluks]

Stick it into bricks & mortar, no not literary! Buy property..

That's a pretty big gamble given what will happen to interest rates if things blow...

But we're talking about savings, if you've got the cash to buy outright?

 

[JohnD]

house prices go up and down. When they go down, people moan about "negative equity"

When the economy is depressed and there are few buyers with money, the value of your hous(es) will fall.

When the economy is depressed and people are hard up, rents fall, or voids increase.

The cost of utilities, maintenance and council tax (no discounts now on empty properties) however does not fall.

 

[ntb]

Stick it into bricks & mortar, no not literary! Buy property..

That's a pretty big gamble given what will happen to interest rates if things blow...

But we're talking about savings, if you've got the cash to buy outright?

The price of houses is dictated by the price and availability of credit. Most people don't buy for cash. If we get a dose of Greek interest rates prices will adjust accordingly. If you bought the house to live in it's no problem. If you bought as an investment it's a different story.