Omega Owners Forum
Chat Area => General Discussion Area => Topic started by: Varche on 16 March 2013, 14:35:35
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http://www.bbc.co.uk/news/world-europe-21814325
Fantastic. Aa EU condition of receiving a bailout. A one off 6.75% levy next week on savings of less than 100,000 euros. 9.9% if you have more than 100,000 on deposit.
That will encourage folk in cash strapped countries to keep any under the mattress. Well done.
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Theft of individuals assets by the state.Pure and simple.I suspect we will see a lot more of this across the EU in the coming years - if it survives long enough.
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I think it will come off the rails when they impose a tax on value of houses as a lot of people might have equity in a house but not the ability to pay an extra tax.
Rods2 (yet again) was accurate with his predictions of the state getting their hands on peoples money.
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I am just stunned at way this has been done. Underhanded bastards have done it on a holiday weekend, so that no one can even find out anything till Tuesday. Those poor, ordinary folk who have managed to put away a few bob for a rainy day.......shit on from a great height.
I am fickin seething and I hope the EU is proud of itself.
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AAAAARRRRGGGHHH......WHERE'S MY EFFING GUN....... >:( >:( >:(
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Another nail in the coffin! :y :y :y :y :y
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At least Dick Turpin had the decency to wear a mask and carry a gun so you knew he was a wrong 'un!!
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An absolute disgrace, so your savings in the banks get stolen >:( >:( >:( >:(. How long do you get for bank robbery?
There will be an uprising against the EU :y :y :y :y :y
VOTE UKIP
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This isn't about other "unfortunates".
Don't get lulled into complacency that this won't happen in the UK. The UK defecit is enormous. No lets be honest it is huge, huge huge. One day, the day of reckoning will come when the Uk needs cash. The precedent has been set. I still stick by my UK in the Euro within five years prediction.
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Oh and my buy gold recommendation should have set you in good store by now.
Use some of your dosh to buy heirloom seeds. It will augment your canned goods supply that you ought to stockpile.
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;D ;D ;D ;D rather robing barstuards >:( >:( >:( >:( >:( >:(
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Another commented: "Cyprus is cruelly punishing private investors. The new rule of the eurozone is that you can confiscate 10% from investors without hesitating."
In Berlin, German Finance Minister Wolfgang Schaeuble called the levy part of the "fair" distribution of the bailout's burden.
This is quite shocking, when did they make this a rule, I don't remember hearing anything about it...... >:( >:( >:(
Surly this will cause a run on the banks at a time they can least afford it, and what happens if everyone takes all their money out of the bank - can a bank refuse??? Maybe I should have bought some gold, swmbo would not complain.. ;) ;)
Are we not already paying for a 'fair distribution' caused be current difficult times with no pay rise in years and price increases well beyond inflation.......... :-X :-X
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Yes, pure state theft. >:( >:( >:(
Mind you every cloud and all that...UKIP are up to 17% in the ComRes poll tonight – a record for UKIP in any poll. :y :y
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This is one of many of my motivations for emigrating as the writing is on the wall for private property and savings in the UK and taxes are too high for business risks to make sense. The Conservatives had a window of opportunity to sort out Labour's mess and by choosing Camoron as leader, who choose his economically illiterate friend Osborne to be Chancellor. >:( >:( >:( >:( We are now over half way through this Parliament, so it is now too late for the necessary changes to be made, not that he has a clue what to do anyway, apart from what the socialists in the Treasury tell him is best. >:( >:( >:( >:( The three year window of opportunity they had is now closed as our national debts are now over 90% and growing and once you are over 90% you have started on the slippery slope to default. The ONLY way the UK can now avoid defaulting is by inflating our debts away, so savings and pensions for those who have already bought an annuity will be next to worthless over the next 5 to 10 years. The Mansion Tax from the 2015 Labour-Lib Government will be the start of the confiscation of ALL property. Desperate situations will require desperate measures as Cypriot bank account holders are now finding. >:( >:( >:( >:(
The EU have done this (part of Merkel's electioneering) on the basis of Russian Mafia money in Cypriot banks and indeed some of the money there will be. But these is also much legitimate Russian and Ukrainian money from a very favourable tax agreement between Russia and Cyprus, which Ukraine also uses. The previous Cypriot President has in large part created this situation where he was an out and out communist who wasted large amounts of money and supported those, who supported him. ::) Cyprus is now one of the more corrupt countries in Europe. It will also hit UK property owners, who will have bank accounts there.
Where the Greek Sovereign debt haircut, which only included private investment and not EU institutions has hit investment in the Eurozone bonds from the private sector, so the same will be true in future for any sort of investment. What investors and business people hate most of all in uncertainty, as the return of the money is always more important than the return on the money. I very much doubt that Russia will take this sitting down and also where many Russian and Ukrainian businesses in Cyprus (many shell companies) will have been hurt, they will now relocate elsewhere, so Cyprus will lose this Corporation Tax.
Even worse about 50% of the money deposited in Cyprus is from Russians, I now expect capital flight from Cyprus to probably Switzerland, how will Cypriot banks cope with this and will the Cypriot Government either have to use Target 2 borrowing to cover this or introduce capital controls in the next few days? If they use Target 2 borrowing, this will increase Northern Europe's liabilities in the event of a Euro breakup.
In the past I looked at Cyprus for an off-shore company with their 10% corporation tax and then decided that for various reasons, including being inside the Euro and EU and all the uncertainty this involves with tax uncertainty due to future tax harmonization within the Eurozone and also local politics and corruption. One of the Caribbean tax havens will better suit my purpose.
Taxes on savings and foreign company dividends in Ukraine are 5%, so it will reduce my tax bill and also I need a stronger place for the rule of law for all of my Intellectual Property than Ukraine, so setting up a company in somewhere like the Cayman Islands makes sense and also having a US dollar account will help, where I hope some of my business interests within two years will be stateside.
I have been hit hard by the current recession and always had a passing interest in economics, so I decided in 2008, never again, do I want to be behind the curve and get hurt financially, so this is why I'm now trying to keep ahead of the curve, out of self interest, but I'm always happy to share those thoughts with you as your comments and knowledge provoke further thoughts and further my understanding, where I still have much to learn.
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I saw on sky news tonight that even the British squaddies based there, with money in Cypriot banks, will have to pay. I had to pinch myself. Where are the anarchists when you need them?
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I'm equally shocked and bloody angry at the audacity of that manoevre .
How can theft , and that is what it is , be sactioned like that .
Living here in Ireland and being hit by tax after tax imposed on us by the EU , Troika and the most brutal unsympathetic and ineffective government I have ever seen ,makes me fear that a similar thing could still occur here .
We are being hit for a property tax this year on private houses but the way it is being levied is an embarressing disgrace being implemented at the behest of dark forces outside the country by the second rate school teachers who govern and have all but destroyed this wonderful country.
I'm utterly sick of the blood sucking monster called the EU who have no grasp of the real world and the cold bloodied avaricious IMF Troika who are literally destroying peoples lives .
I watch the austerity measures being inflicted on the countries so far and it is almost to the point of being inhumane .
The posturing politicians tell us almost daily that we have turned the corner here and that they are doing a great job that we should kiss their ass for but I see real hardship out there where honest working families have to decide " do we feed or clothe our children or pay the mortgage " , pensioners on a fixed pension who have no leeway in their disposable income but now have to pay a tax on the roof over their head.
THAT is real hardship and it was all brought on by corrupt megalomaniac politicians , reckless negligent Bankers and unprincipled visionless developers , all in bed with each other. They walk , we pay.
These examples are just the tip of an evergrowing iceberg over here . Once a country is forced to accept austerity measures as a package there is no quick relief from the pain it brings , and it hurts .
And before you all say "well we have the council tax so it's only fair " you don't have to pay the exhorbitant rates of motor tax that historically has been the revenue stream that more than made up for the lack of council tax.
No , I cannot see light at the end of the tunnel on this , there has to be a backlash soon.
Private Frazer was absolutley right " We're all doomed ......"
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About €2bn (£1.7bn) of British deposits in Cyprus will be hit by this legalized theft, by the EU, including many soldiers stationed there. >:( >:( >:( >:( >:(
Consider it a foretaste of things to come over the next few years and remember these money grabbing leeches are in charge, so ever how much they steal off anybody through legalized robbery, they will still have their large salaries, generous expenses and comfortable inflation proofed pensions. Lork King of the BOE is such an example with his £7m pension pot as a reward for failure, which will give him like all senior BOE officials an inflation proofed pension, this is how confident they are on keeping to their remit of 2% inflation. >:( >:( >:( >:( >:(
Remember in the private sector your pension pot is limited to £1.25m and if you exceed it you pay 55% tax. One rule for them and one for the plebs. >:( >:( >:( >:(
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The Cypriot parliament has postponed until Monday a meeting due to be held today. This suggests to me that some horse trading may be necessary before agreement is reached.
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Osbourne has said our government will compensate any government or military personnel working in Cyprus for their losses. The right thing to do, of course, but it means we are paying for a (small) part of the bailout.
Eventually, someone will ask how much it cost. That will be interesting.
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Well I'm speechless ........
I just watched the redoubtable Mr George Osborne on the Andrew Marr show and according to him all is blooming in the garden called Britain.
It would seem that he , and his brothers in arms , are doing a simply splendid job of running GB plc. The list of successes he says he is achieving would put the credits at the end of a James Cameron movie to shame , BUT y'all will all have to tighten your belt and pay up as the other boy broke the economy ...........
But never fear , if you are aspirational then you will be ring fenced in the forthcomming budget . ::)
Anyway , I have to dash , I have an appointment back on Earth.
Bye the way , who is that snivelling little schoolboy ......Balls , I think he is called.
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Well I'm speechless ........
I just watched the redoubtable Mr George Osborne on the Andrew Marr show and according to him all is blooming in the garden called Britain.
It would seem that he , and his brothers in arms , are doing a simply splendid job of running GB plc. The list of successes he says he is achieving would put the credits at the end of a James Cameron movie to shame , BUT y'all will all have to tighten your belt and pay up as the other boy broke the economy ...........
But never fear , if you are aspirational then you will be ring fenced in the forthcomming budget . ::)
Anyway , I have to dash , I have an appointment back on Earth.
Bye the way , who is that snivelling little schoolboy ......Balls , I think he is called.
He's written an article in the sun on Sunday today. Much as it pained me to buy it, I had to. I'm going to take my pills before I read it.
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Bye the way , who is that aptly named snivelling little schoolboy ......Balls , I think he is called.
Fixed that for you. ;)
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If anyone is really worried about our government trying the Cyprus solution over here, don't panic. Withdraw your cash, send it on to me, and I will
go and live somewhere nice look after it for you. :y
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Is this the real beginning of the end of the Euro? Once the populations lose faith along with businesses and markets, what future does the currency have? This is a very good article in a Cypriot newspaper.
http://ekathimerini.com/4dcgi/_w_articles_wsite3_1_16/03/2013_488221 (http://ekathimerini.com/4dcgi/_w_articles_wsite3_1_16/03/2013_488221)
I expect Osborne is currently, thinking, what a good idea, I will consult Wooster Snr next door and ask Jeeves and see if I should slip it into Tuesday's budget, with all my other terrific measures to bankrupt fix the economy, they probably won't even look up from X-factor notice. A one off deposit tax, I dump on the UK populous from a great height, like a pidgeon and they give me 10% of their bank deposits in return to waste spend on saving the country :o :o :o :o
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If anyone is really worried about our government trying the Cyprus solution over here, don't panic. Withdraw your cash, send it on to me, and I will go and live somewhere nice look after it for you. :y
We know we can trust you where you are from that city of hard work, honesty, integrity and magicians. Now you see it, now you don't. :P ;D ;D ;D
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Is this the real beginning of the end of the Euro? Once the populations lose faith along with businesses and markets, what future does the currency have? This is a very good article in a Cypriot newspaper.
http://ekathimerini.com/4dcgi/_w_articles_wsite3_1_16/03/2013_488221 (http://ekathimerini.com/4dcgi/_w_articles_wsite3_1_16/03/2013_488221)
I expect Osborne is currently, thinking, what a good idea, I will consult Wooster Snr next door and ask Jeeves and see if I should slip it into Tuesday's budget, with all my other terrific measures to bankrupt fix the economy, they probably won't even look up from X-factor notice. A one off deposit tax, I dump on the UK populous from a great height, like a pidgeon and they give me 10% of their bank deposits in return to waste spend on saving the country :o :o :o :o
I have long said, Rods, that the undoing of this whole financial debacle may not have a lot to do with how goverments behave, but how the average Joe changes his behaviour. We, in this country, are outwardly calm, even passive, but I believe that there is an underlying trench mentality. Just this morning I said to my wife 'I'm going to ring the bank and pay off that last loan'. 'On a Sunday?' she said. Yeah, on a Sunday.
I have steadily, over the last few years, paid of all my debts, sometimes leaving us a bit skint. And I will not borrow any more, not in a million years. My mentality has totally changed and, I should imagine, I am not the only one.
It is this mistrust and, yes, fear, that will negate any governments efforts to grow the economy.
It may even be for the best.
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Is this the real beginning of the end of the Euro? Once the populations lose faith along with businesses and markets, what future does the currency have? This is a very good article in a Cypriot newspaper.
http://ekathimerini.com/4dcgi/_w_articles_wsite3_1_16/03/2013_488221 (http://ekathimerini.com/4dcgi/_w_articles_wsite3_1_16/03/2013_488221)
I expect Osborne is currently, thinking, what a good idea, I will consult Wooster Snr next door and ask Jeeves and see if I should slip it into Tuesday's budget, with all my other terrific measures to bankrupt fix the economy, they probably won't even look up from X-factor notice. A one off deposit tax, I dump on the UK populous from a great height, like a pidgeon and they give me 10% of their bank deposits in return to waste spend on saving the country :o :o :o :o
I have long said, Rods, that the undoing of this whole financial debacle may not have a lot to do with how goverments behave, but how the average Joe changes his behaviour. We, in this country, are outwardly calm, even passive, but I believe that there is an underlying trench mentality. Just this morning I said to my wife 'I'm going to ring the bank and pay off that last loan'. 'On a Sunday?' she said. Yeah, on a Sunday.
I have steadily, over the last few years, paid of all my debts, sometimes leaving us a bit skint. And I will not borrow any more, not in a million years. My mentality has totally changed and, I should imagine, I am not the only one.
It is this mistrust and, yes, fear, that will negate any governments efforts to grow the economy.
It may even be for the best.
I have the same mentality, where I have been hit badly by this recession, I now cut my clothes according to my cloth, and this won't change in the future. Once bitten twice shy. My older brother has always been like this. He paid off his mortgage as quickly as possible, bought rather than rented a shop as soon as he could and spends his money wisely. For the last 15 years he has owed nobody anything. :y :y :y
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Russian mafia money in cyprus ?
we will see may politicans dead in the oncoming period :-\
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Not surprisingly, the markets have taken it badly this morning.
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Russian mafia money in cyprus ?
we will see may politicans dead in the oncoming period :-\
Ah. Every cloud... ;D :y
Lets hope the Cypriots get value for money. :)
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I've got one of those beds with the drawers in the bottom,should just about squeeze my pickled onion jar full of 1 and 2 pence coins under there and the bank can keep my overdraft as a gift from a very grateful customer ;) :y
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Russian mafia money in cyprus ?
we will see may politicans dead in the oncoming period :-\
Ah. Every cloud... ;D :y
Lets hope the Cypriots get value for money. :)
once you become the target of russian mafia, no matter where you go , they will find you..
they killed some people here..
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I've got one of those beds with the drawers in the bottom,should just about squeeze my pickled onion jar full of 1 and 2 pence coins under there and the bank can keep my overdraft as a gift from a very grateful customer ;) :y
Soon your pickled onions will be worth more than your coins ::) ;D
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So...the Cypriot parliament has voted against mugging the population. A kick in the fanny for Merkel. :y
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She will make them vote again and again until they give the right answer. ;)
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She will make them vote again and again until they give the right answer. ;)
Ve have vays of making you...... ;D
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She will make them vote again and again until they give the right answer. ;)
No agreement, no bailout = Cyprus goes bankrupt ::) ::)
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She will make them vote again and again until they give the right answer. ;)
No agreement, no bailout = Cyprus goes bankrupt ::) ::)
Cyprus is already bankrupt, along with most other European nations, including us.
When you live day-to-day on borrowed money you are bankrupt. If I were Cameron, I'd get down to the CAB.
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She will make them vote again and again until they give the right answer. ;)
No agreement, no bailout = Cyprus goes bankrupt ::) ::)
Cyprus is already bankrupt, along with most other European nations, including us.
When you live day-to-day on borrowed money you are bankrupt. If I were Cameron, I'd get down to the CAB.
Yes but with the bailout it can stay out of full bankruptcy; without the bailout it will be full bankruptcy with no money to pay for it's public services let alone anything else. ;)
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She will make them vote again and again until they give the right answer. ;)
No agreement, no bailout = Cyprus goes bankrupt ::) ::)
Shame they can't dump the euro, bring back the Cypriot pound (devalued) and get the tourist industry going again.
Cheep holidays, Keo beer, Brandy sour's and Nissi (sp) beach :)
Bring it on :y :y :y
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Then defaults,reverts to its old currency,devalues, and its economy quickly begins to recover.Then Greece/Spain/Portugal/Republic of Ireland decide they also want out of the euro and the whole thing collapses almost overnight.That is the one and only reason the Europhiles wont allow any country to take that route.Greece should have went down that path a long time ago. ;)
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She will make them vote again and again until they give the right answer. ;)
No agreement, no bailout = Cyprus goes bankrupt ::) ::)
Shame they can't dump the euro, bring back the Cypriot pound (devalued) and get the tourist industry going again.
Cheep holidays, Keo beer, Brandy sour's and Nissi (sp) beach :)
Bring it on :y :y :y
Ouzo.....mmmmmmmmm ;D
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I really don't know what will happen, but I tend to agree with Albs. Too much has been invested, economically and politically, to give up now.
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I think they must of been made and offer they couldn't refuse by some of the deposit holders. ::) :o :o :o :o
Still, not a difficult decision to make, losing face or having to face an angry Russian Mafia. ::) :o :o :o :o
My guess is that they will get a up front payment from Putin the Russian state owned Gazprom, for the rights to exploit the Cypriot gas fields. Russia 1 / Cyprus 1 - EU 0 / Merkel 0. ::) ::) ::) ::)
Still Merkel should be okay, her fat ass should cushion the blow. ;D ;D ;D ;D She can spin it to the electorate that the Germany taxpayer now has one less EU liability. :o :o :o :o
It is going to be interesting to see if they get away with this now in any Spanish bailout, where they will have all of the residences wealth details (which they are collecting at the moment) for a 10% one of levy on this to raise some of the money to cover the €200bn+ undisclosed losses in property loans in Spanish banks. ::) ::) ::) ::)
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I'm gonna watch Jeff Randall now, he'll know what to do. 8)
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I've got one of those beds with the drawers in the bottom,should just about squeeze my pickled onion jar full of 1 and 2 pence coins under there and the bank can keep my overdraft as a gift from a very grateful customer ;) :y
Soon your jar will be worth more than your coins ::) ;D
There you go, I've fixed that for you. ::) :P ;D
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I've got one of those beds with the drawers in the bottom,should just about squeeze my pickled onion jar full of 1 and 2 pence coins under there and the bank can keep my overdraft as a gift from a very grateful customer ;) :y
Soon your jar will be worth more than your coins ::) ;D
There you go, I've fixed that for you. ::) :P ;D
:'(
Russia 1 / Cyprus 1 - EU 0 / Merkel 0.
:y
Wonder if my £100k is safe in the bank here :-\ ;D
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I've got one of those beds with the drawers in the bottom,should just about squeeze my pickled onion jar full of 1 and 2 pence coins under there and the bank can keep my overdraft as a gift from a very grateful customer ;) :y
Soon your jar will be worth more than your coins ::) ;D
There you go, I've fixed that for you. ::) :P ;D
:'(
Russia 1 / Cyprus 1 - EU 0 / Merkel 0.
:y
Wonder if my £100k is safe in the bank here :-\ ;D
No, keep up at the back there.
UK debt is about £40,000 per household. So bargain on £60k for your retirement (less about 3% per annum for QE and negative interest etc). Call it £50k.
Withdraw it and keep it at home but watch out for Osbornes Labour's mattress tax! ;D ;D ;D
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Withdraw it and keep it at home but watch out for Osbornes Labour's mattress tax! ;D ;D ;D
Yes, Labour will recruit an army of clipboard wielding Mattress Inspectors with more power than the VAT man, who will go into every home in the land measuring the thickness of peoples mattresses!! :) and in the case of a shitty mattress, Health and Safety will decree that the Mattress Inspector cannot touch it, but can assume that there's a shit load of cash stuffed in it..... :o
Certain members be warned!! ;)