Fears over Post Office savings

[TrueBlueTerrier]

http://www.itv.com/News/Articles/Post-O ... 37850.html" onclick="window.open(this.href);return false;

Published: Friday, 6 March 2009, 7:49PM

There are concerns about money saved in Post Office savings accounts, because much of that cash is kept in the Bank of Ireland where it is not covered by British Government guarantees.

A warning has been issued that UK savers with funds in Post Office accounts could lose their money.

A joint venture between the Bank of Ireland and the Post Office means problems with Ireland's economy may put savings at risk.

A senior Liberal Democrat politician has told ITV News the partnership must be severed before it is too late.

The Irish government has already been forced to nationalise some of the banks and there are increasing rumours that Ireland, like Iceland, is now bankrupt.

Meanwhile, Gordon Brown has attacked the banking industry again, claiming their mistakes have "squeezed" good, hard-working people.

[resperin]

f**k. though an article similar to this was brought to light like 2 months ago, or probably longer. just recieved a letter from them a few days ago telling me the cheque has been sent to halifax, so i can get my isa money transffered. just hope it happends before anything, possibly drastic does re: irelands economy. but the post office should move all the esisting savers money elsewhere, as alot of people are thinking theyre money is with them and not some other bank

[BELIAL]

Where they going to move it to? I don't think that a country that has just plucked £150 billion out of thin air has a robust and prospering economy
The whole free market system is in meltdown and policy makers are flailing wildly in blind panic with no idea of what effects their rescue attempts will have, simply because they fail to grasp the inevitable nature of the crisis and are clueless about it's ultimate scale

[TrueBlueTerrier]

The whole free market system is in meltdown and policy makers are flailing wildly in blind panic with no idea of what effects their rescue attempts will have, simply because they fail to grasp the inevitable nature of the crisis and are clueless about it's ultimate scale

I get the distinct feeling that the governments of the world and the multinationals are just moving money around as fast as they can to try and hide the real scale of the "Credit Crunch". I just have a feeling there is no new money just old money following the News and politicians and business men hoping we wont notice.

Of course I probably have just labelled my self a conspiracy nut, but hey ho.

[BELIAL]

It's more cock up than conspiracy Headless chickens all flapping in an effort to to control something that they cannot measure or understand . According to their models this situation cannot occur, but facts are tricky things to ignore Panic control measure number one is talk things down, so printing worthless cash becomes -Quantitative easing, economic collapse becomes downturn, mass redundancy becomes modernisation , collapse of currency becomes fiscal realignment ,Rightspeak
At the end of the day ,cash has no intrinsic value ,it is a promissary note. Just where did the UK get £150 billion worth of new useful stuff overnight?
You might find the conspiracy bit in the number of global companies who have failed to reveal their accounts on time as legally required . Anyone Know Santanders results due last month?

[dvbuk55]

It's more cock up than conspiracy Headless chickens all flapping in an effort to to control something that they cannot measure or understand . According to their models this situation cannot occur, but facts are tricky things to ignore Panic control measure number one is talk things down, so printing worthless cash becomes -Quantitative easing, economic collapse becomes downturn, mass redundancy becomes modernisation , collapse of currency becomes fiscal realignment ,Rightspeak
At the end of the day ,cash has no intrinsic value ,it is a promissary note. Just where did the UK get £150 billion worth of new useful stuff overnight?
You might find the conspiracy bit in the number of global companies who have failed to reveal their accounts on time as legally required . Anyone Know Santanders results due last month?

Well that's all too familiar territory of recent years.