Emergency cash payments for Cumbrians hit by RBS and NatWest chaos
Last updated at 14:25, Wednesday, 27 June 2012
Thousands of people across Cumbria could be affected by a national banking problem - even if they are not customers of the bank involved.
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Here are a couple of videos which explain how banking got to where it is today, and why so many are worried about a collapse of the main currencies.youtube.com/watch?v=7I_k0tAnQ7U
I wish the Cumbrian newspaper's comments sections had the ability to "thumbs up" comments, I'd be clicking up the post by Francis. I also like "anon"'s post about what he learned as an apprentice.I'd like to add that many, many people are now exchanging their paper money for silver and gold. I even know of some people who have gone to the extreme and sold their house or pension fund to buy precious metals! (Not me, by the way.)Re. the Muslim approach to money - some areas still use silver and gold coinage, and the worth of the coins now is the same as their worth hundreds of years ago within this system, no inflation. Also, many older folks here in the UK may remember that prices were pretty much static in the early decades of last century when we still used silver and gold coins - it wasn't until 1947 when we changed to base metal coinage that prices seriously began to rise. Something to ponder, maybe.
When I first became an apprentice I was taught a few things. Firstly earn as much as possible and spend as little. More importantly, make sure you have enough money to live for 3 months in the bank. The final thing is keep a little cash in the house. Do people not plan for problems or emergencies these days? What would they do if they lost their cards and couldn't access their cash until a new one was sent? The problems with the banks might be serious, but if people took a little personal responsibility the impact for most would be nil.