So says Saxo Bank CEO, Lars Christensen:

www.telegraph.co.uk/finance/personalfina...ars-Christensen.html

So should I just take my ,say, £50,000 out in cash,and stick it under the bed?

Serious question

You rich bastard jhado

If they scrapped the stock markets around the world do you think currency would fair better and in general do you think capitalism would be less susceptible to the crooks.

andyh wrote:
It was a hipothetical question, honest

andyh wrote:
It's not rich having that amount.

I know your being sarcastic.

; )

anything above 50 million is rich.

jhado wrote: I'm not really well placed to give independent financial advice, and I'm not sure putting 50 grand under your bed is entirely wise as it's uninsurable. But by the same token, only have money in the bank that you're willing to lose.
humanspirit wrote: Yes. Whether it would fare well is another matter entirely, but 99% of the human race would be better off without financial markets.

humanspirit wrote:
First who is "they", if "they" control capitalism through vast sums of hoarded wealth and material assets do you think they will change anything to make it fairer and less susceptible to exploitation?

If "they" scrapped the stock markets it would be because "they" had found a more profitable method of accumulating wealth, unlikely though, it would seem with ongoing Privatization "they" are just trying to find more stuff to put on the stock market.

The EU are trying to tax the shit out of Bankers bonuses at the moment, it's a good reform but extremely moderate, the Social democrats and liberal reformers come out with these moderate reforms to avert revolution, imo they do it to avert people getting interested in Nationalizing all banks, their profits, using these to renationalise all basic services and other radical left wing policies.

50k cash is good money, I'd buy a house boat or RV with that kind of money.

sorry if any of that's off topic WUB.

Is the £85K bank guarantee any good. Does it only compensate for the bank going bust, rather than covering against governmental thieving?

andyh wrote:
Homeless rich bastard actually

Gilly wrote: Officially, yes. IMHO, no. Remember in Cyprus the IMF wanted to deduct 40% from ALL bank customers originally. 24 hours before this they were told that no money would be taken from deposit accounts under any circumstances.
Yes. It's supposed to cover any eventuality, ie. the government is supposed to guarantee your savings whatever happens. This is impossible anyway, but if the government kowtows to the IMF, for example, then this would become irrelevant.

No-one really knows exactly what will happen yet, but there is no way the European economies will recover, there's no way public debt can be paid back, and many banks' supposed assets are pretty dubious compared to their liabilities. Prior to Cyprus, most countries complied with the IMF by imposing 'austerity' measures, and accepting 'bailouts'. As this has made absolutely no difference to the economic position of any of those countries, the intention is to operate selective 'bail ins' from now on. This won't make any difference either, so it remains to be seen what will happen after that.

There are other alternatives, but don't be looking for the British political establishment to implement them. Or do look for it, but expect to be disappointed!

Mike wrote:
I was after WUB's personal opinion about the stock market and if it was scrapped.

Def of they-"Used to refer to the ones previously mentioned or implied."

I think that's quite a good use of the word actually.

Lazy i agree,rather than typing bankers,industrialists,royalty and so on.

As for the question "if they scrapped the stock market",it's a reasonable way of asking a hypothetical question by including the people who created something and who have the power to remove what they created.

LOL was it you who typed we.

Possible psycho alert.



You come across as a Neo Con to me,are you one?

50k is nothing in world terms.

jhado wrote:
Staying in the four seasons hotel instead eh?
Rofl

andyh wrote:
Yeah, that's the one mate

humanspirit wrote: you're clearly paranoid and deranged, go and have a lie down.

jhado wrote:
www.fourseasons.com/

^If only eh

www.fourseasons.com/maldivesfse/

I especially like that one, christ. It'd prolly cost 50k for a week though lol.

Mike wrote:
Your welcome to your opinion.

My opinion of you is your possibly psychopathic or sociopathic.