False Alarm

Benipete · 07-10-2008, 18:43

Heard on the news this morning that Iceland was on the verge of bankruptcy. Well I panicked and sent them an Email requesting to buy a small chest freezer in the hope of helping them out in my own small way.

Turns out it was just a scare,but it did cause a rush on Farm Foods.

Did any other member fall for this outlandish sales pitch.

MITZY · 07-10-2008, 18:45

Could have been the Iceland online banking and maybe you just misunderstood or misheard

Wynonie Harris · 07-10-2008, 18:59

Quote:

Originally Posted by MITZY

Could have been the Iceland online banking and maybe you just misunderstood or misheard

Whooosh!....

Bonnyboy · 07-10-2008, 21:27

Really did LOL reading this

derekgas · 08-10-2008, 07:14

Well done Benipete, the news this morning said people are expecting OUR government to bail out people here who invested in the icelandic banks (because of better interest rates there), I personally dont think they should bail out foriegn banks, if you invest abroad, it is your own greedy fault if you lose!

WillowTheWhisp · 08-10-2008, 07:23

It's a bit grim for the people who can't draw their money out but I really don't see why the rest of us should bail them out and that's what it amounts to because it will be taxpayers' money. That's what people seem to forget when they expect 'the government' to do anything.

If course the problem is that banking abroad has never been easier with online banking now and some of those interest rates offered have sounded very tempting. People may not have realised they were taking a risk. We have all been encouraged to save and invest for our old age and people will have been looking to get the best return they could for their money. There's a lot to be said for hiding it under the mattress these days!

derekgas · 08-10-2008, 07:29

I agree willow, if our business went down the pan, the government wouldnt come and bail us out!

Neil · 08-10-2008, 07:44

Quote:

Originally Posted by derekgas

the news this morning said people are expecting OUR government to bail out people here who invested in the icelandic banks

Thats a nope from me as well. We have protection in place for investors in this Country not abroad.

What next claiming money lost due to share price drops?
You take the risk - sometimes you win sometimes you loose.

WillowTheWhisp · 08-10-2008, 07:51

LLoyds Investors already tried that one didn't they.

garinda · 08-10-2008, 08:00

Quote:

Originally Posted by Neil

Thats a nope from me as well. We have protection in place for investors in this Country not abroad.

What next claiming money lost due to share price drops?
You take the risk - sometimes you win sometimes you loose.

The hundred of thousands of British savers in Icesave will receive £16,000 compensation from the Icelandic government, if they don't go bankrupt first, and £34,000 from the British government, who today will announce they'll also 'invest' £50 billion of our money to shore up the British banking industry.

The only safe investment at the moment it seems, is to put your money into mattresses.

Neil · 08-10-2008, 08:13

Quote:

Originally Posted by garinda

The only safe investment at the moment it seems, is to put your money into mattresses.

That is assuming those pounds are actually worth anything when you take them out again.

Maybe gold or diamonds will be a safer bet.

SPUGGIE J · 08-10-2008, 08:23

It used to be in this country that those with money ruled and that it all changed when the masses got the vote. When they started to get low on funds the poor peasents had to cough up more in tax etc to be sure that these landed bafoons were kept in the style they were acustomed to. To me it hasnt changed any except ther is no Robin Hood and his Merry Men to protect us. Now the Sherrif of Nottingham is the banking industry and look what happens when thy get a little short on dosh they send out the troops (govenment)to empty our purse.

As for Iceland going under well wether it be the little hot rock country or heaven forbid our beloved food basket we will be in the poo poo reguardless. I wonder if the run on farm foods would match that of Northern Rock?

SPUGGIE J · 08-10-2008, 08:26

Quote:

Originally Posted by Neil

That is assuming those pounds are actually worth anything when you take them out again.

Maybe gold or diamonds will be a safer bet.

Depends on wether Posh Spice and the bling brigade havnt snaffled em all up yet. Besides which where would you put your treasure to keep it safe because banks aint at the moment?

Neil · 08-10-2008, 08:28

I have a vault under the house, its in my fall out bunker.

jaysay · 08-10-2008, 08:47

Quote:

Originally Posted by Neil

I have a vault under the house, its in my fall out bunker.

I didn't realise you ever fell out with anybody Neil