Brexit, for once some facts.

[OxygenJames]

Do you remember the Egg Bank? They were crazy!

They offered an interest free loan for two years and offered me £3000. I asked them to increase it and they did, to £4000 which I accepted. I then invested it with them at 6% interest!!

Little wonder they are no longer with us.
.

Right. I had a card with them too. They were forever upping my limit. Which was fine because like you I was taking it and putting it into interest bearing accounts.

Hey - if a big US bank wants to come over here flashing their cash (as in MBNA - not sure who owned egg) - then I'll take them up on it. With anything in life - its easy if you have a modicum of self-discipline.

Trouble is - not everybody does - and those people suffer. How to stop that? I really don't have an answer for that other than stricter lending criteria for people with low IQs. How else could it be done?

 

[OxygenJames]

lt already happened. They just printed bits of paper and called it money.

Capitalism failed about 10 years ago. We're just running on fumes now.

Can't wait to see the next scam. Exciting isn't it!

What a time to be alive!

Rubbish. Capitalism has not failed. Sheesh. What has failed is socialism. Look around you at all the countries where their economy is on the floor - its either run by religious zealots - or socialists.

 

[Danidl]

I recall the day when to get any credit you needed a guarantor over the age of 21 to secure it. That was in the days when people were paid in cash and the banks didn't have total control over our money. Having wages paid directly to bank accounts allowed them to do that. I don't recall any people having problems with debt before then.

I am afraid your memory is a little rose tinted. Can you not remember moneylenders, pawnshops, payment in the pub for labourers , company towns, tokens instead of cash.
As had been stated, credit availability is a good thing,and enables postive productive loans wirh a return on investment. .. say getting an electric bike at 1500 , and saving 1000 PA in transport.

 

[OxygenJames]

I am sure you would not think that way if the tariffs were about to write off your business.
KudosDave

No. That sucks. For the greater good means fcku all when its you in the firing line.

But then I've gone out of business so many times and picked myself up and started over..... it can be done - you just have to dig deep. Or not. Sometimes people sink. I've seen friends sink - horrible to watch - absolutely horrible to watch.

You strike me as somebody with the ability to pick yourself up and get on with what opportunities there are. Unless I'm reading you wrong.

 

[Danidl]

Rubbish. You are arguing for the corn laws. You're arguing that the market does not discover true value. It does.

The market values that which be monitarised. It take States and Governments and international bodies to decide what should be monitarised... Things like Carbon credits are poor attempts to start it.

 

[flecc]

not sure who owned egg) -

Egg was a banking venture by Prudential Assurance. Barclaycard eventually took over the credit card side and Yorkshire Building Society the mortgage and investment business.
.

 

[gray198]

I am afraid your memory is a little rose tinted. Can you not remember moneylenders, pawnshops, payment in the pub for labourers , company towns, tokens instead of cash.
As had been stated, credit availability is a good thing,and enables postive productive loans wirh a return on investment. .. say getting an electric bike at 1500 , and saving 1000 PA in transport.

don't dispute that credit is good, but at one stage it was being offered far too freely to people who could not afford it

 

[OxygenJames]

The market values that which be monitarised. It take States and Governments and international bodies to decide what should be monitarised... Things like Carbon credits are poor attempts to start it.

Not too hot on Carbon Credits but Tim W has a few ideas here:

http://www.timworstall.com/2008/08/16/well-that-settles-that-then/

 

[50Hertz]

lt already happened. They just printed bits of paper and called it money.

It was a very stealthy method of emptying the bank accounts of those who had saved a bit. I think they hoped that no one would notice. I noticed.

 

[oldgroaner]

But then I've gone out of business so many times

Not a very good advert is it? and how much collateral damage was done on the way?

 

[gray198]

Do you remember the Egg Bank? They were crazy!

had my mortgage with them for awhile

 

[gray198]

Rees-Mogg made £20 million on 23 June 2016,currency exchange $ to £,then has made,so far,£10million £ to $,but as you say its not about the money????

money makes money

 

[oldgroaner]

Where does he talk about self-sufficiency? Huh? He's saying we'd all get cheaper food (from overseas or whereever) - if we stop bailing out our farmers. Or our farmers would be more efficient. Nothing to do with self-sufficiency.

Like he said (did you even read it thoroughly I wonder) - its 64m of us versus 55,000 farmers. Otherwise known as....... drum roll............ Democracy.

Actually known more accurately the application of crass stupidity that would result in years of disruption to food production.

There nothing about creating starvation by interfering in farming that smacks of democracy .
Using that sort of logic the farmers would be quite within their rights to grow opium poppies in order to remain profitable.
We can afford to have small time self styled financial wizards succeeding and failing when they aren't very good at business, but most certainly not the ones we rely on to keep us fed.

 

[oldgroaner]

The BBC has explained that Mrs May did not go Brussels in a Spitfire after all
This is their explanation .

For those wondering - simple human error at end of #BBCNewsSix. A production mistake meant pictures used earlier to tease story about Biggin Hill ended up in our top story recap at close of show. If and when it happens pretty certain PM not travelling to Brussels like this.

This is actually unfair on Theresa May, she has enough problems trying to negotiate with the EU without being faced with them laughing about this, as you can hardly blame them for doing.

It's uch more likely to go like this

In your dreams Boris! by the way is that you leading the retreat up the bank in the silly hat?

 

[50Hertz]

Do you remember the Egg Bank? They were crazy!

They offered an interest free loan for two years and offered me £3000. I asked them to increase it and they did, to £4000 which I accepted. I then invested it with them at 6% interest!!

Little wonder they are no longer with us.
.

I had an Egg money card, I can’t remember the exact name, but it allowed you to turn the upper limit on any interest free credit card into cash. I had several interest free cards from several providers, turned the maximum credit limit on each into cash using the Egg card, and then like you, put the cash into ISA accounts and savings accounts paying 5 to 6%. It was called Stoozing or something similar, but balance transfer fees and low interest rates killed it off. It was great whilst it lasted, hundreds of pounds worth of free money for about 2 hours work.

 

[oyster]

It's the Queen's fault for approving Maastricht!

(If the "current crop" of MPs happened to include some who were elected by remain majorities in some constituencies, is he seriously suggesting that they are not allowed to vote and argue against leaving?)

Ukip leader asks Queen to suspend parliament to thwart remain MPs

Gerard Batten also says Queen should never have approved ‘treasonous’ Maastricht treaty

The leader of Ukip has written to the Queen asking her to suspend parliament until after 29 March to ensure MPs cannot thwart Brexit.

Gerard Batten’s letter also informs the monarch that she should never have approved the 1992 Maastricht treaty as it made her, and everyone else in the UK, citizens of the EU, and was thus unlawful and treasonous.

“Your Majesty’s ministers were gravely in error and wrongly advised you,” states the letter, released publicly by Ukip.

Batten begins by saying he is formally petitioning the Queen under the 1689 Bill of Rights, which established the notion of parliamentary supremacy. He argues the current crop of MPs were elected to uphold the result of the 2016 referendum and thus take the UK out of the EU.
https://www.theguardian.com/politics/2019/jan/31/ukip-leader-gerard-batten-asks-queen-to-suspend-parliament-to-thwart-remain-mps

 

[boyabouttown]

Trouble is - not everybody does - and those people suffer. How to stop that? I really don't have an answer for that other than stricter lending criteria for people with low IQs.

Great, no new bike for me then.

 

[OxygenJames]

Not a very good advert is it? and how much collateral damage was done on the way?

Innocent of all charges. Never been bankrupt. Always paid my creditors.

Main 'colateral damage' was having to work three jobs for a while to get back to some kind of financial stability.

 

[anotherkiwi]

I had an Egg money card, I can’t remember the exact name, but it allowed you to turn the upper limit on any interest free credit card into cash. I had several interest free cards from several providers, turned the maximum credit limit on each into cash using the Egg card, and then like you, put the cash into ISA accounts and savings accounts paying 5 to 6%. It was called Stoozing or something similar, but balance transfer fees and low interest rates killed it off. It was great whilst it lasted, hundreds of pounds worth of free money for about 2 hours work.

So you work for free? No, didn't think so - what you meant to say is that you earned hundreds of pounds after working for just a couple of hours.

 

[50Hertz]

So you work for free? No, didn't think so - what you meant to say is that you earned hundreds of pounds after working for just a couple of hours.

I’m not entirely sure what you mean AK.