Sunday, September 28, 2008

ONE IN TEN BRITS PREFER TO STORE CASH UNDER MATTRESS


It’s been a bad week for Britain’s banking industry. First we hear that HBOS is in trouble and being taken over and then the news that Bradford and Bingley are also experiencing difficulties. Bradford and Bingley have reassured their customers that their savings are secure, with deposits of up to £35,000 covered by the government-backed protection scheme. However it’s little comfort to the many thousands of the bank’s customers. After the collapse of Northern Rock earlier this year and the current bleak economic climate, one in ten Brits now say they don’t trust banks and think it’s safer to store their cash under the mattress!

7 comments:

Kilroy_60 said...

George W. Bush has not only wrecked the U.S. economy; he's spread fear around the world.

If McCain wins in November this is going to look like a picnic. There will be a lot more Brits sleeping on mattresses of money.

I should also mention, I stumbled by to give you a thumbs up on StumbleUpon. {my page}

Jackie said...

Strange, appears the 1st World not much different than the 3rd World at doing things.

Best way to do it is buy investment class gold, diamonds or other quality gems and put them in a wall safe or buy land if you have money as that rarely devalues.

Sharon Lynne said...

Yes...in the USA the news reported that people are buying safes for their homes. The safe business is booming.

I feel like we're living on the pages of a history book.

SandyCarlson said...

This is scary--and true here, as well!

Naomi said...

Thanks for the stumble Kilroy. Nice to see you again.

You are probably right Jackie. Investors in gold and diamonds have the right idea!

Sales of safes are booming here too Sharon.

Yes it's very scary Sandy. At the moment everyone here is living in fear of losing their hard-earned savings. So many banks are in trouble!

Princess Haiku said...

Hi Naomi,
I am not surprised about the cash under the mattress things as some US banks have been looting bank security boxes in the last few years. -Unbelievable but true. A deposit box is considered "abandoned" if you don't visit it in person every few months. This is a separate issue from the bank crashing. Seems as though the world has gone crazy.

Naomi said...

Hi Princess Haiku

Nice to see you again. I agree the world has gone crazy. Looks like the same thing is going to happen soon with bank accounts here.