lehman bankruptcy timeline
Should we trust Banks with our savings?
http://news.bbc.co.uk/1/hi/business/7305708.stm QUOTE
” Thornburg Mortgage has said it is trying to raise almost $1bn (£500m) in extra capital to avert a possible bankruptcy filing.”
http://news.bbc.co.uk/1/hi/business/7305039.stm QUOTE
“The UK’s financial watchdog, the FSA, is investigating whether rumours have been deliberately spread to undermine the value of bank shares.”
http://news.bbc.co.uk/1/hi/business/7302622.stm QUOTE
“Lehman Brothers and Goldman Sachs both saw their profits more than halved in the first quarter of 2008.”
http://news.bbc.co.uk/1/hi/business/7096845.stm QUOTE
“Timeline: Sub-prime losses”
Etc etc etc etc
The obscene part is that the GOVERNMENT will only honour £35,000 personal savings if a bank folds and goes into liquidation or freefall..
So if you have sold some property, or have a large legacy, where would you put your money today and not worry about it?
Good question. Firstly if the EU gets its way within the next couple of years and it will, the Pound will disappear in favour of the Euro, and with will come a devaluing of your and my assets. So at that time one’s current value one’s holdings be it cash, bonds, deposits, property, and so on will drop and have to adjust to the new value as controlled by the euro.
If you have lots of money, buy Gold, it may have a better chance of holding up in its value than anything else. Irrespective for the future of where to put one’s money, that’s if you will have anything left after the EU have got through taxing you, leaves some relatively poor options.
