...sad but true. RBS are set to take a fine for the part they played in the Libor rate rigging scandal but guess who's paying? Yep, YOU are! That is, the taxpayer will pick up the bill as it is the majority shareholder.
Taxpayers face £500m bill for RBS Libor fraud - UK Politics - UK - The Independent
Or, to put it another way, the majority haven't got a clue the extent to which they get financially cheated on a daily basis.
Look at QE (Quantitative Easing) - there's a good explanation here - Quantitative Easing explained - but in a nutshell, if an economy flags cut interest rates to encourage borrowing. If that doesn't work, print money to encourage lending - it's a tried and tested system! Well actually, it's not, it's NEVER been tried in the UK prior to 2008. We are the great experimental QE centre of Europe.
QE costs YOU money, it forces inflation into different areas or, if you prefer, it deflates your cash. Hence, prices go up but your income doesn't. So who is paying for QE - YOU, again!
Then there's the so-called 'predatory pricing' - the reduction of prices to lure new customers in. Existing customers are excluded obviously. Actually, predatory pricing is illegal in its more extreme forms but these deals are 'special offers' so they're okay! You don't need a link - check banks and utility companies for good examples.
Financial advice? Forget the banks and the financial advisers, they'll sell you whatever makes the most money for THEM. Now the banks are being forced to be more transparent about charging and remove the 'add-ons' from accounts you can expect more 'targeted' advertising from both banks and the organisations they sell your details to - Banks spy on customers to sell targeted online advertising | This is Money.
And the headlines again? Nick Clegg to support change in succession laws...hang on, I'll have to go, there's a Local Authority Inspector wants to check my pot-plant for a passport or summat...
Taxpayers face £500m bill for RBS Libor fraud - UK Politics - UK - The Independent
Or, to put it another way, the majority haven't got a clue the extent to which they get financially cheated on a daily basis.
Look at QE (Quantitative Easing) - there's a good explanation here - Quantitative Easing explained - but in a nutshell, if an economy flags cut interest rates to encourage borrowing. If that doesn't work, print money to encourage lending - it's a tried and tested system! Well actually, it's not, it's NEVER been tried in the UK prior to 2008. We are the great experimental QE centre of Europe.
QE costs YOU money, it forces inflation into different areas or, if you prefer, it deflates your cash. Hence, prices go up but your income doesn't. So who is paying for QE - YOU, again!
Then there's the so-called 'predatory pricing' - the reduction of prices to lure new customers in. Existing customers are excluded obviously. Actually, predatory pricing is illegal in its more extreme forms but these deals are 'special offers' so they're okay! You don't need a link - check banks and utility companies for good examples.
Financial advice? Forget the banks and the financial advisers, they'll sell you whatever makes the most money for THEM. Now the banks are being forced to be more transparent about charging and remove the 'add-ons' from accounts you can expect more 'targeted' advertising from both banks and the organisations they sell your details to - Banks spy on customers to sell targeted online advertising | This is Money.
And the headlines again? Nick Clegg to support change in succession laws...hang on, I'll have to go, there's a Local Authority Inspector wants to check my pot-plant for a passport or summat...
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