Gilly wrote:

So how will this downgrading affect the majority of people in the UK?

Speaking as someone who doesn't borrow off banks or have credit cards how will it affect me?

humanspirit wrote:
www.thisismoney.co.uk/money/news/article...ml?ito=feeds-newsxml

Haven't time to copy & paste or write a precis as am making tea.

Gilly wrote:
Reading between the lines, yer getting the Euro.

oioioi wrote:
Hehe, devalue the pound to parity..it could happen, almost did courtesy of Soros....

Short term you can expect some slightly higher prices, probably noticeable on fuel first, govt will have to pay more to borrow, its an ever decreasing circle ending in the govt going bust, just a question of how long it takes.

oioioi wrote:
Does that matter?
I don't care what name they call their made up credit notes.

As for who controls it,would it make any difference if it was a rich person with a UK passport or a rich person with a Belgium passport?

humanspirit wrote:
Or German?

Does it matter? It didn't help Greece, Spain, Portugal or Ireland.

oioioi wrote:
Or swiss,American or Vatican state passport

Just been watching a presentation called...

"The End of Britain
WARNING: What you're about to see is controversial, and may be alarming to some audiences. Viewer discretion is advised."

pro.moneyweek.com/myk-eob/LMYKP220/

It's on for quite a while (forgot to take note of how long - 30 to 60 minutes).

It explains why our country's in the financial mess it is, and states that our predicament is not one that we can recover from. Basically, we're waiting for the hammer to fall, in the form of an inevitable interest rate rise, for government borrowing, at which point, we're all doomed.

It describes the type of chaos that is likely to result.

Happily, it does give you the option at the end, of getting a free wealth preservation report, and 3 free Money week magazines if you sign up to a subscription.

Sadly, those of us without wealth to invest in the ways their report will recommend, are pretty much kippered by the sounds of it.

Happy viewing.

I tried Gilly, honest I tried but jeez can that guy drone on!?
'kin'ell I had to bail before I unscrewed a lighbulb and licked the fitting.

Isn't it fascinating though, you'll never hear anyone say ...

"Hey Mr Banker, remember that money you lent me that you didn't actually have to lend?
Well here's my settlement that I don't actually have.
We're now square.
You got all of your nothing back".

feather wrote:
Yes, I forced myself to listen, because I wanted to hear an expert opinion of what's liable to transpire in the near future - even though I don't really want to know it, as it's less than encouraging.

Gilly wrote:
Absolutely yep.
The interest rates are artificially low and ironically enough there's little point in saving with such low rates, its also having an effect on insurance.
It is fair to say that if the rates rose to previous levels then many EU govts would go bust as there's no way they'd manage to make repayments on debt. (Debt which came from nowhere in the first place ofc lol....)

Ofc if we have 100% digital money with no govt oversight then who is to know how much money is in circulation?
If no-one knows how much money is in circulation then we cannot have inflation/deflation without specific info from the bankers who will have total control of the economy.
Also the govt will have total tax collection and tracking of everything traded. The govt would similarly have incentive to keep schtum about their own borrowing and spending....
Hopefully you can all see where this is leading. A command economy specifically a SECRET command economy with no accountability and incredible psychopathic entrenchment of corruption and an EU wide single currency, an EU wide single govt and an EU wide single banking system under SEPA (already previously linked on this forum) and an EU wide single army.

They illustrate the possibility of a sudden implosion, resulting (perhaps) in people suddenly being unable to withdraw funds from their bank accounts; limits being imposed on the amount of your own money you can withdraw per week; pensions being seized; money being confiscated from people when travelling abroad; limits on the value of gold that people are allowed to own, excess of which may be confiscated; property values dropping hugely; vast tax hikes & wage cuts; savings being simply 'gone' as banks go down; riots, violence & mayhem.

Gilly wrote:
I think they're lower us down the gutter a fair bit yet, all of us in the EU will get a taste of it but they won't lose control of the masses.

There'll still be 'Celebrity Dancing on Ice', right... ?

Ab Origine wrote:
Christ, I hope not. That'd be just too much to endure!

Ab Origine wrote:
And Splash!

Scary, huh?