The End of Investments?

IDontBelieveIt · Post by **IDontBelieveIt** » Mon Dec 15, 2008 7:14 pm

So, if want to take out say £350 from MY account I am not allowed to due to 'money laundering rules'. So I want to take out £300 out of MY account I have to -

(a) have evidence of who I am

(b) have a passbook

(c) sign more bits of paper than a whole rain-forest can supply

BUT if I am an arse-hole yank who is considered a 'whiz-kid' investor HE can rip off investors, many of them here in the UK, to the tune of $50B

Did I miss something or are we Brits just being taken for a ride?

Over the past 8 years I have had NO time at all for 'Independent Financial Advisors' for they work a very simple principle - empty YOUR wallet into MY wallet.

Me thinks I will take out ALL my money from the banks and shove in shoe boxes under the bed.

Hoovie · Post by **Hoovie** » Mon Dec 15, 2008 7:19 pm

IDontBelieveIt wrote: Me thinks I will take out ALL my money from the banks and shove in she boxes under the bed.

Nah - put into into your boxes, not she boxes ;)

I am wondering what to do with my pension plan, must admit. getting an instant benefit with the tax-relief part which is worth having, and changed it so 50% just goes into a cash account (sod speculation right now!) but who knows what is safe any more !!

IDontBelieveIt · Post by **IDontBelieveIt** » Mon Dec 15, 2008 7:29 pm

Ta for the correction Hoovie! (id did read 'she' instead of 'shoe') very observant of you.

Well when it comes to pensions mine is with Equitable Life, well it was reckon I have 'lost' some £300K due the clever dicks that walked away with massive pay out bonuses.

I am actually think this latest debacle will be very damaging to the system for many years to come. I have no idea why we should be so surprised we all knew it was legal theft, but then nobody is accountable any more.

Best investment is a sawn off double barrelled shot gun and walk into the local bank. If you get caught you may get a few weeks community service and still keep the loot. No point in working for it any more.

Hoovie · Post by **Hoovie** » Mon Dec 15, 2008 7:44 pm

ouch - that equitable life thing is such a scandal!! sorry to hear you got stiched up with that :(

uropachild · Post by **uropachild** » Mon Dec 15, 2008 9:42 pm

Oh i have no idea about this stuff. My pension is worth about 1K per year in todays money - so nowt then!

IDontBelieveIt · Post by **IDontBelieveIt** » Mon Dec 15, 2008 9:51 pm

And that ^^ is exactly what they the (money men otherwise known as robbers) rely on.

Get someone to invest i something... anything... tell them that they must invest for the future, scare the Hell of of them tell them they need to invest in their pension.

True they may only be 20+ now but by the time they have believed all the cr4p we tell them plus all the spin and they have invested al the hard earned income in the scan we have devised we will then rip them off. WE will spend our retirement in the Caribbean having a bloody good time and they can go to Hell.

Britain and the USA at its best - Capitalism as we know it is at deaths door, I hope, as it is just as bad as Communism was - "one rule for them anther rule for us"

Stoday · Post by **Stoday** » Tue Dec 16, 2008 12:31 am

Can I grumble too? I lost £100k in the last downturn in 2000. Baltimore tech went tits up, so did Macaroni and Carlton. The bosses at PhotoMe sold the best assets to themselves for a song and Wickes boss, a Mr Sweatbum, fiddled the books.

But I had around 35 shares in my portfolio so the bad ones were offset by the good. Best was Natwest bank, bought in 1996 for £3k and sold 3 years later for £18k.

I doubled my money in 10 years then used it to build a house. I didn't join some pikey get rich quick scheme; I bought individual shares. Great fun. Some days I'd do a valuation and find I'd gained anything up to £5k in a day for doing f'k all, so I used to indulge in a good lunch. Some days I lost & finished up with a big mac.

In the long run you can get the best returns off the stock market. You can't expect it to always go up. And there are always shysters around like Sweatbum (Sweetbaum) and badly managed firms like Macaroni (Marconi). Just part of the risk that you have to manage.

handyman · Post by **handyman** » Tue Dec 16, 2008 8:21 am

pension plan = shotgun at 65

feva · Post by **feva** » Tue Dec 16, 2008 8:34 am

handyman wrote:pension plan = shotgun at 65

just what i was thinking!!!

Post by **ultimatehandyman** » Tue Dec 16, 2008 8:36 am

Some of you will be aware that I pay the bare minimum into my pension fund of 1%.

Even though my firm pays 2% for every 1% that I pay into it, I still feel it is not a good investment as in the past the pension fund has had significant losses.

I'm relying on property and shares for my retirement.

Pension funds suck- big time.

The End of Investments?

The End of Investments?

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