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 Post subject: Re: IMF calls for a tax on household savings
PostPosted: Thu Dec 19, 2013 12:28 pm 
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Homeless

Joined: Jun 25, 2013
Posts: 8
Hi -

I wish to move savings out of reach of the possible bank levy in 2014.
I contacted HSBC premier and I would have to make way up to a branch in the North to open an account with them. Also they want me to have my salary going into a HSBC account.

Is there a slightly easier alternative??? Are there banks that allow one to open an account without visiting a branch??

Cheers


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 Post subject: Re: IMF calls for a tax on household savings
PostPosted: Thu Dec 19, 2013 12:47 pm 
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Neo Landlord

Joined: Feb 18, 2009
Posts: 264
nationwide uk offer accounts also online without this much hassle I believe


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 Post subject: Re: IMF calls for a tax on household savings
PostPosted: Thu Dec 19, 2013 11:56 pm 
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Joined: Jan 4, 2013
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Location: To the right of the decimal place
corkfella wrote:
nationwide uk offer accounts also online without this much hassle I believe


That would be Nationwide UK (Ireland) presumably. An Irish subsidiary, so your money is in Ireland for all intents an purposes.

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 Post subject: Re: IMF calls for a tax on household savings
PostPosted: Fri Dec 20, 2013 1:00 am 
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Under CAB Investigation

Joined: Feb 19, 2009
Posts: 2506
Kant wrote:
Hi -

I wish to move savings out of reach of the possible bank levy in 2014.
I contacted HSBC premier and I would have to make way up to a branch in the North to open an account with them. Also they want me to have my salary going into a HSBC account.

Is there a slightly easier alternative??? Are there banks that allow one to open an account without visiting a branch??

Cheers



HSBC Offshore --- you can open it through the post. Excellent too. And outside the Eurozone . . . . . obviously key.

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Profits = Investment – Household Savings – Government Savings – Foreign Savings + Dividends

(i.e. company profits are directly fed, in part, by government deficits)

BANKS DON'T LEND RESERVES
As confirmed by the Bank of England


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 Post subject: Re: IMF calls for a tax on household savings
PostPosted: Fri Dec 20, 2013 1:19 am 
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Single Home Owner

Joined: Jan 30, 2008
Posts: 108
Daniel Plainview wrote:
HSBC Offshore --- you can open it through the post. Excellent too. And outside the Eurozone . . . . . obviously key.


is HSBC Offshore the same as HSBC Expat?

http://www.expat.hsbc.com/1/2/hsbc-expa ... expat/faqs

from the faq above the deposit guarantee is 50k and total compensation is limited to 100m over a 5yr period. The uk guarantee doesn't apply


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 Post subject: Re: IMF calls for a tax on household savings
PostPosted: Fri Dec 20, 2013 2:50 am 
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Joined: Feb 19, 2009
Posts: 2506
yellowmoose wrote:
Daniel Plainview wrote:
HSBC Offshore --- you can open it through the post. Excellent too. And outside the Eurozone . . . . . obviously key.


is HSBC Offshore the same as HSBC Expat?

http://www.expat.hsbc.com/1/2/hsbc-expa ... expat/faqs

from the faq above the deposit guarantee is 50k and total compensation is limited to 100m over a 5yr period. The uk guarantee doesn't apply



Yeah they rebranded, it was HSBC Offshore for years . . . expat is probably a bit more "pc".

Yes, upsides and downsides to being offshore; I rather the upsides.

_________________
Profits = Investment – Household Savings – Government Savings – Foreign Savings + Dividends

(i.e. company profits are directly fed, in part, by government deficits)

BANKS DON'T LEND RESERVES
As confirmed by the Bank of England


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 Post subject: Re: IMF calls for a tax on household savings
PostPosted: Sun Jan 05, 2014 1:17 pm 
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Joined: Jul 26, 2009
Posts: 14892
IMF study urges rapid expropriation of savers in Europe - -> [qoogle translate] - http://deutsche-wirtschafts-nachrichten ... in-europa/

Quote:
A new study by the IMF announces an unprecedented wave of forced measures against the savers in Europe. The debt crisis would be terminated by a mixture of "taxes on savings, loss of taxpayers through cuts debt, inflation, capital controls and other measures of financial repression." The European politicians are asked to give up their denial of reality and act.

The IMF has the renowned economists Carmen Reinhart and Kenneth Rogoff instructed in a "Working Paper" show instructions for the solution to the European sovereign debt crisis.
The result is now available - and it exceeds previous fears about the scale and the solutions to the European debt crisis.
Recently, the IMF had proposed a ten percent tax on all debt net assets in Europe to push the debt to pre-crisis level of 2007 ( more on that here ).
The EU has taken appropriate measures to do this and some other demands enough ( more on that here ).
However, the analysis of Reinhart and Rogoff shows: All known measures are not sufficient to solve the debt crisis.
The IMF paper is entitled: "financial and sovereign debt crisis: lessons we have learned from the past - and those that we have forgotten."

there is more


WP/13/266
Financial and Sovereign Debt Crises: Some Lessons Learned and Those Forgotten - Carmen M. Reinhart and Kenneth S. Rogoff ->
http://www.imf.org/external/pubs/ft/wp/2013/wp13266.pdf


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