£ to $

[Roy]

Please elaborate. Should we follow? Is this a heads-up? 

[Scuzzle]

I started doing it the minute the SNP became dominant and Scotland became a one party state just as a precaution, especially after I saw their fiscal plans for an independent Scotland.  If there are bank bail ins in the future I would rather get my 40% haircut on as little as possible.  It's not like I get any interest keeping cash in the bank anyway, it's better off elsewhere.

The big question as far as I am concerned is why did the EU fast track the bank bail in agreement laws and bring it forward 2 years?  Is it because they expect bank collapses. 

[HawkHybrid]

overall it's probably best to keep what you must

in the bank and take out what you can. as

mentioned, it's not like anyone is going to get a

good rate of interest. if nothing happens you can

always deposit it back in. whilst banks limit what

you can take out, it's easy to put all that you have

into the bank.

 

HH

[HelpingHands]

Then they'll ask where you got it all from.

[Pipers]

On 21/01/2016 at 00:36, HelpingHands said:

 

[Pipers]

On 21/01/2016 at 00:36, HelpingHands said:

Then they'll ask where you got it all from.

All you need to say is the following and stick to it.

The banks insist on interest when they lend customers money so when customers (the lenders) lend the banks(deposit) money they should expect interest at a reasonable level too. In my opinion the banks are to higher risk for the return they are offering so I declined them.

Remember Its your money and as long as its not obtained from crime it has nothing to do with the Police/ local authority, if you have paid your taxes it has nothing to do with the Taxman.  We do not live in a eastern block communist 1980's country.    

  

[HelpingHands]

No but the proceeds of crime act can mean guilty until you prove your innocence.

[Pipers]

On 19/01/2016 at 17:32, goldbones said:

Wouldnt be surprised to see parity with the dollar if it continues to rise and they decide to raise rates further, it'll certainly get close to 1.20-1,

Assuming of course the dollar doesn't just suddenly tank along with the market.

If we leave the EU I can see 1-1 then.  

[Pipers]

5 minutes ago, HelpingHands said:

No but the proceeds of crime act can mean guilty until you prove your innocence.

Oh yes the 'paper clip law' I had forgotten about that. But like I said if you pay all your taxes and do not commit any crimes, then why would the serous crime squad or the local authority come knocking at your door?  

I have just read the wiki page on this link below and it seems the banks report hundreds of thousands every year, and it seems to cover anything and everything it has a few exceptions 'bull fighting in spain' so if you had a mind and were to attend bull fighting in Spain you could not have any assets taken from you as it is legal in Spain.  I suppose it would be the same for smoking cannabis in Holland.  

Everything I have read in the article stands the same if you had the money in the bank as you would if you had taken it out and had it at home, I would of thought laundered money can be in a bank easier than out of a bank.    

 https://en.wikipedia.org/wiki/Proceeds_of_Crime_Act_2002

[Bumble]

3 hours ago, Pipers said:

Remember Its your money and as long as its not obtained from crime it has nothing to do with the Police/ local authority, if you have paid your taxes it has nothing to do with the Taxman.  We do not live in a eastern block communist 1980's country.   

I wish this were true, but a look across the pond towards the USA shows what might happen in the UK. Seizing of cash, particularly from motorists and shop owners, with no probable cause and no subsequent charges, let alone conviction, has caused a storm of media attention. Here are some examples;

http://www.washingtonpost.com/sf/investigative/2014/09/06/stop-and-seize/

http://edition.cnn.com/2015/01/21/us/asset-seizures/

http://www.cbc.ca/news/world/american-shakedown-police-won-t-charge-you-but-they-ll-grab-your-money-1.2760736

http://www.vice.com/read/the-police-can-take-your-cash-without-charging-you-with-a-crime

http://www.economist.com/news/united-states/21588915-how-prosecutors-seize-assets-innocent-grabbing-hand-law

The day may come when any money you have will be assumed stolen unless you can prove otherwise. It would be best not to assume "this can't happen here". At the very least, it would be prudent to retain receipts, pay slips, P60 forms, tax returns, etc., going back as far as you can, so you have some evidence to work with.

[Scuzzle]

The US really is turning into the USSA.

[HelpingHands]

Let's say you took all of your wages out of the bank every month for five years.  You then wanted to deposit it all in one go. 

Questions would be asked.

[Scuzzle]

8 minutes ago, HelpingHands said:

Let's say you took all of your wages out of the bank every month for five years.  You then wanted to deposit it all in one go. 

Questions would be asked.

That's what I would have to do if the banks turned round and said "we are implementing cashless, you have 3 months to get all the cash you have under the mattress back into the bank"

Of course I would rather buy gold.

[Bumble]

Not only that, but remember that all UK banknotes are due for replacement with new plastic ones over the next four years. A huge stack of your current paper (actually linen) notes might be difficult to exchange and/or spend.

[sovereignsteve]

39 minutes ago, Scuzzle said:

The US really is turning into the USSA.

But isn't the US the land of the free?

[Bumble]

2 minutes ago, sovereignsteve said:

But isn't the US the land of the free?

I think the sad answer to that question is that the USA's founding fathers intended and planned for it to be so, but the American people are selling their birthright in exchange for the illusion of security and the empty promise of welfare for all.

[BaldyBob]

29 minutes ago, Bumble said:

illusion of security and the empty promise of welfare for all.

Well as you can see, it is working so well in Europe.

[HawkHybrid]

2 hours ago, Bumble said:

Not only that, but remember that all UK banknotes are due for replacement with new plastic ones over the next four years. A huge stack of your current paper (actually linen) notes might be difficult to exchange and/or spend.

 

for those with granny's/grandad's life savings in old notes from

decades past. the bank of england should still exchange them.

 

HH

[Pipers]

USA is the land of the free, they get told it every day by their dear leaders and the media 

[Pipers]

The £ is being hit hard this evening, with PM Cameron not getting anything from the EU meeting (stopping welfare for immigrants)  the threat of the UK leaving has increased tonight.  If you have a big enough pair of boll-cks you should hold off your Gold purchases (thats if the vote does happen in June) because the UK will not leave the EU the vote will be to stay in no matter what because thats what they big business and the establishment want.

If you are short on Gold then I suggest you buy to balance your investments we have a rocky road ahead!!   

[sovereignsteve]

I can't wait to see how Cameron tries to sell his failure as a success

[Pipers]

Strong start to the month for sterling against the usd

[goldbones]

On 2/1/2016 at 23:58, Pipers said:

Strong start to the month for sterling against the usd

More like Dollar completely tanking against everything else now, lol.

[shemyaza]

It's cyclical as I explain every week. That Baltic Dry Index is scaring the markets at a possible Global Supply shock which could be why commodities are at present exploding upwards in anticipation of possible global rationing.

[Pipers]

15 hours ago, shemyaza said:

It's cyclical as I explain every week. That Baltic Dry Index is scaring the markets at a possible Global Supply shock which could be why commodities are at present exploding upwards in anticipation of possible global rationing.

@shemyaza please explain what you mean by rationing?  or do you mean price fixing.