BOE Interest Rate

[anonymous-user]

So the Bank of England have decided to keep the interest rate at 0.25% this month, but it looks likely that they are going to reduce it to 0.1% in November. Can anybody explain to me what the point of this is aside from a final nail in the coffin for savers?

I have a six figure sum in the bank and I think I am going to have to admit defeat on this one now. I held on to the bitter end but they have won, they have made it pointless to have any sort of savings anymore.

So I will buy a property in the next few months, that was always the plan but I might as well do this sooner rather than later.

If I become a good little government debt slave I suppose I better queue up for my brand new iPhone 7 and lease car to go with it. Spend, Spend, Spend as the government will always bail out the reckless and punish the sensible.

[anonymous-user]

All that jazz said:

http://p2pindependentforum.com/

Is one solution.

Although that sounds good in theory, the fact that it is not regulated at all and the company could disappear and say "Sorry, we lost all your money" makes me slightly nervous.

[anonymous-user]

mike74 said:

Well done, you've done exactly what the boe want you to do... abandon your savings by ploughing them into the property bubble in order to keep the Ponzi scheme going that little bit longer.

Good little obedient debt drone.

Edited by mike74 on Friday 16th September 06:55

Trust me that is the last thing I want to do and I am one of those people who honestly thought this whole debt issue would come crashing down by now. But it hasn't, the government have reduced interest rates and just print more money (QE) when it looks like the economy is slowing down again.

In the past the market would have been left alone, now the government are trying to stop the bust by printing more money.

And I am the most debt adverse person ever, even the thought of getting a mobile phone contract unnerves me. No loans, no credit card debt no nothing.