There's some new words in town they're called "Bail In's".
Posh words for banks stealing your money.
Not much change there..................
postscript: RBS are being investigated over hiding 4500 dormant accounts from customer.
In future when your bank goes bust ie. Northern Rock or gets in a position such as the Bank of Scotland, you as a depositor will be required to give up your hard earned cash to keep the bank or building society afloat.
The above is just talk at the moment but don't be surprised when it becomes law.
( I wrote this before reading above link)
There's also talk of NIRP's
The basic idea that the banks and building society's will charge you to keep money in the bank as opposed to paying you interest on your deposits.
Won't bother me much as I haven't got much ready cash.
Might be a bit of a problem if you've got hundreds of thousands of pounds.
Even tens of thousands.
They also won't let you withdraw large amounts in readies.
Between a rock and a hard place?
postscript. I should also add the such sites as Zerohedge reckon world economies are going to go "mammaries up" in the near future.
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