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[Varche]

Here is one to maybe get the conspiracy theorists going.

Governments are going to be cash strapped very soon from baling out failing airlines and a host of other worthies. No tax revenues coming in so where will the money come from.?

One answer is your bank account if it has more than £ 8320 in it.. the frozen account would have course be re instated at a future  very distant date  after  the economies get going again.

The precedent has been set with I think Cyprus during the banking crisis. Might be time to stuff biscuit tins.

[Doctor Gollum]

Don't you have access to Netflix or a book? Facebook isn't news, or accurate 

[STEMO]

I've seen this nonsense pop up before. By someone else who stays up half the night looking at shite on the internet.

[Doctor Gollum]

Dow Jones value:

March 14th, 2008... 11,951.09
March 13th, 2009... 6,507.04

February 12th, 2020... 29,551.42
March 16th, 2020... 20,182.52

Hardly an oppsing fire sale

[STEMO]

This irresponsible nonsense is the kind of stuff that adds to the feeling of panic sweeping the nation. A run on the banks is just what we need right now.

[Doctor Gollum]

Couldn't agree more

[aaronjb]

This irresponsible nonsense is the kind of stuff that adds to the feeling of panic sweeping the nation. A run on the banks is just what we need right now.

Sorry, what was that? I couldn't hear you over the noise of all these note counters running after I took all my money out of the bank... 

[Rangie]

I'll stash my millions in the spare room alongside the 300,000 toilet rolls, why do people believe this utter shite?

[Andy B]

....

One answer is your bank account if it has more than £ 8320 in it.. the frozen account would have course be re instated at a future  very distant date  after  the economies get going again. ....

I'll be OK then ..... 

[Viral_Jim]

Also, the post is based on the assumption that if everyone wanted their money from the bank (any bank) that they could have it. Money in a private bank is not sat around somewhere doing nothing, waiting to be withdrawn. It's off being lent to a business, or as part of someone's mortgage etc. That's how bankers make their millions.

In the scenario the OP describes, chances are the central bank would (figuratively) print some more money,  doubtless funded by more borrowing from cash-rich nations (China, middle East, Norway, to name just 3).

[STEMO]

Also, the post is based on the assumption that if everyone wanted their money from the bank (any bank) that they could have it. Money in a private bank is not sat around somewhere doing nothing, waiting to be withdrawn. It's off being lent to a business, or as part of someone's mortgage etc. That's how bankers make their millions.

In the scenario the OP describes, chances are the central bank would (figuratively) print some more money,  doubtless funded by more borrowing from cash-rich nations (China, middle East, Norway, to name just 3).

Or just print some more money and not borrow from cash rich nations, thus putting inflation up to 1970's levels.

[deviator]

Don't stockpile cash, it's dangerous. It might be stolen and also it's another fire hazard with those 4000 bog rolls lying around.

If you are worried about your cash, write a cheque out to Coronavirus Antibody Specialist Hospital or C.A.S.H. for short. Send the cheques to me and I'll sort it out for you 

[Rods2]

Fiat currencies like USD, GBP can be printed in Buzz Lightyear's words 'to infinity & beyond' as long as credibility is strong enough to sustain it. USD as the globe's reserve currency, definitely, GBP almost certainly where they are both very, very strong, stable, safe haven in a storm currencies.

The Euro is in a poor place as only half a currency with unwritten-off 2008 zombie bank debts, pretending to be worth something to stop many Eurozone banks being insolvent & needing bailouts.

Serial failure & convicted criminal Christine Legarde in charge of the ECB caused market jitters last week with her crass statement on widening Italian bond yields where Italy in not the EU's country of the month at the moment.

[STEMO]

Don't stockpile cash, it's dangerous. It might be stolen and also it's another fire hazard with those 4000 bog rolls lying around.

If you are worried about your cash, write a cheque out to Coronavirus Antibody Specialist Hospital or C.A.S.H. for short. Send the cheques to me and I'll sort it out for you 

That sounds like a fantastic idea 
Email me your name, address, bank account number and sort code, mother's maiden name and login credentials and I'll put the money straight into your account.

[Rangie]

Don't stockpile cash, it's dangerous. It might be stolen and also it's another fire hazard with those 4000 bog rolls lying around.

If you are worried about your cash, write a cheque out to Coronavirus Antibody Specialist Hospital or C.A.S.H. for short. Send the cheques to me and I'll sort it out for you 

That sounds like a fantastic idea 
Email me your name, address, bank account number and sort code, mother's maiden name and login credentials and I'll put the money straight into your account.

.   


Sounds like this could possibly be one of those scams I've read about..😃

[Sir Tigger KC]

Fiat currencies like USD, GBP can be printed in Buzz Lightyear's words 'to infinity & beyond' as long as credibility is strong enough to sustain it. USD as the globe's reserve currency, definitely, GBP almost certainly where they are both very, very strong, stable, safe haven in a storm currencies.

Um..... 

Since last Monday 9th March Sterling (GBP/USD) has plunged from a high of $1.32 to a low today of $1.20. 

Compare that to the Japanese Yen (USD/JPN) which is a safe haven currency and has gone from Y104.26 on Monday 9th March to a high of Y108.50 on Friday 13th. It fell back a bit yesterday, but has climbed again today. 

If I was a conspiracy theorist, I might suggest that some big players are shorting Sterling on purpose to make life even harder for the country in these difficult times, to try and force Boris's hand so he will have to plead for an extension to the transition period. It wouldn't be the first time and a certain Hungarian/American billionaire springs to mind. 

But Sterling a safe haven reserve currency?  Hardly. 

[Doctor Gollum]

Definitely summat in the water in that part of Sandhurst 

[TheBoy]

Facebook isn't news, or accurate 

Social Media is the cancer of modern society.

Arsebook and others have at last promised to delete a lot of the wank around this current case of the sniffles that is clearly false.

[Sir Tigger KC]

Facebook isn't news, or accurate 

Social Media is the cancer of modern society.

Arsebook and others have at last promised to delete a lot of the wank around this current case of the sniffles that is clearly false.

Good, some of the utter bile on twitter is disgusting! 

[Sir Tigger KC]

Sterling is having a bad day from it's open at $121.30 and is currently at $115.25 off a low of $114.51.     

[Doctor Gollum]

Not as bad a day as the Dollar if it is trading $114 to a £...

 

[Sir Tigger KC]

Not as bad a day as the Dollar if it is trading $114 to a £...

 

Not how it works. 

The Yanks can now buy a Pound for 15 cents less than they could a week or so ago, which will be great for British exporters if they can keep their businesses running. 

But the flip side is that imports become more expensive, so if you'd bought a $20 car part from a US ebay supplier last week you'd have paid £15.38 ($1.30/£1), today you'd have paid £17.54 ($1.14/£1). 

Another consequence is that crude oil and other commodities are priced in dollars...... 

[STEMO]

Not as bad a day as the Dollar if it is trading $114 to a £...

 

Not how it works. 

The Yanks can now buy a Pound for 15 cents less than they could a week or so ago, which will be great for British exporters if they can keep their businesses running. 

But the flip side is that imports become more expensive, so if you'd bought a $20 car part from a US ebay supplier last week you'd have paid £15.38 ($1.30/£1), today you'd have paid £17.54 ($1.14/£1). 

Another consequence is that crude oil and other commodities are priced in dollars...... 

I think Al meant it's $1.14 to the £, not the $114 you put 

[Sir Tigger KC]

Not as bad a day as the Dollar if it is trading $114 to a £...

 

Not how it works. 

The Yanks can now buy a Pound for 15 cents less than they could a week or so ago, which will be great for British exporters if they can keep their businesses running. 

But the flip side is that imports become more expensive, so if you'd bought a $20 car part from a US ebay supplier last week you'd have paid £15.38 ($1.30/£1), today you'd have paid £17.54 ($1.14/£1). 

Another consequence is that crude oil and other commodities are priced in dollars...... 

I think Al meant it's $1.14 to the £, not the $114 you put 

Clever bastard isn't he? 

[STEMO]

Not as bad a day as the Dollar if it is trading $114 to a £...

 

Not how it works. 

The Yanks can now buy a Pound for 15 cents less than they could a week or so ago, which will be great for British exporters if they can keep their businesses running. 

But the flip side is that imports become more expensive, so if you'd bought a $20 car part from a US ebay supplier last week you'd have paid £15.38 ($1.30/£1), today you'd have paid £17.54 ($1.14/£1). 

Another consequence is that crude oil and other commodities are priced in dollars...... 

I think Al meant it's $1.14 to the £, not the $114 you put 

Clever bastard isn't he? 

Hmmmm....I wouldn't go that far 

[Sir Tigger KC]

Not as bad a day as the Dollar if it is trading $114 to a £...

 

Not how it works. 

The Yanks can now buy a Pound for 15 cents less than they could a week or so ago, which will be great for British exporters if they can keep their businesses running. 

But the flip side is that imports become more expensive, so if you'd bought a $20 car part from a US ebay supplier last week you'd have paid £15.38 ($1.30/£1), today you'd have paid £17.54 ($1.14/£1). 

Another consequence is that crude oil and other commodities are priced in dollars...... 

I think Al meant it's $1.14 to the £, not the $114 you put 

Clever bastard isn't he? 

Hmmmm....I wouldn't go that far 

Maybe not. 

Facetious bastard then?     

[STEMO]

Not as bad a day as the Dollar if it is trading $114 to a £...

 

Not how it works. 

The Yanks can now buy a Pound for 15 cents less than they could a week or so ago, which will be great for British exporters if they can keep their businesses running. 

But the flip side is that imports become more expensive, so if you'd bought a $20 car part from a US ebay supplier last week you'd have paid £15.38 ($1.30/£1), today you'd have paid £17.54 ($1.14/£1). 

Another consequence is that crude oil and other commodities are priced in dollars...... 

I think Al meant it's $1.14 to the £, not the $114 you put 

Clever bastard isn't he? 

Hmmmm....I wouldn't go that far 

Maybe not. 

Facetious bastard then?     

Yeah 

What does facetious mean again 

[Doctor Gollum]

Mr Peanz to General Disruption...