Big Dog's Boom Boom Room Message Board

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Gold/Mining/Energy : Big Dog's Boom Boom Room

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

To: Kayaker who wrote (156755)	9/9/2011 4:19:55 PM
From: ChanceIs	of 206087

Savers miss out on £43bn in interest since March 2008 Record low interest rates are taking their toll on savers trying to get a return on their cash. >>>I hope that Big doesn't mind turning the Boom Boom Room into a currency debating society, but FX and interest rates do affect the price of crude. I post this more out of humanitarian concerns about what Bernanke has done to old people on fixed incomes. More than a year ago, noted American banking analyst, Chris Whalen, went on record that fixed income Americans had ceded $1 trillion in lost interest income to the investment banks. And yes I am a died in the wool capitalist, but those banks are stinking up the joint for those who want to play by the rough and tumble rules of the markets. Per the UK Telegraph:<<< By Paul Farrow 7:04AM BST 08 Sep 2011 Figures from the Bank of England suggest that savers have lost more than £43bn since Bank Rate was cut to just 0.5pc two and a half years ago. But borrowers have benefited to the tune of more than £51bn, as they have paid less in interest on their loans during the same period. Mortgages rates have fallen to record lows. Simon Rose of Save Our Savers, the campaign group that has been set up to fight for better rates, said that the Bank of England is not doing enough to counter inflation and is angry of the Committee's reluctance to raise rates. Rose said: "George Osborne has stressed the importance of savers to the economy in the past. Perhaps he will prove a man of his word and listen to our plea to assist savers by suspending income tax on savings interest." The Bank of England is expected to keep rates on hold at 0.5pc when it meets today.

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next