posted on Oct, 22 2009 @ 07:38 AM
reply to post by AlwaysQuestion
In the UK there is something that quite a lot of people are not noticing and the effects it could have on the banking system etc.
"The implications are stunning. We estimate that the total bill could be close to £20billion if the banks are forced to repay every customer every
penny they are owed," he said, adding, "This could seriously strain the finances of some of the biggest semi-nationalised banks."
This article was written yesterday and around a £20 billion refund process in the banking system would certainly add more financial mayhem, banks
might end up having to go back a full eight years rather than 5 and pay every single bank charge back to every single customer in the UK!
There is also cattles plc which owns welcome finance. They are currently in a state and a half with their shares suspended after they could not repay
something in the region of 2.3 billion to high street banks. This is effecting many of the banks as they have not recieved there cash back at the
If cattles goes down or welcome finance (results are supposedly today) and the bank charge cases rule in the favour of the customer (which is expected
at any time now).
I suspect you might see the banking system going beserk and making the last bank runs look like a minor thing compared to what could happen.
Theres a lot of other things going on but right now im keeping my eye on this because I think it will have a massive effect on things to come.
UK is facing a cliff right now and nobody is reporting it anywhere and if it does not happen this week, it could well happen very soon.
When it comes to conspiracy, theres no conspiracy at all here, its facts and the only thing that can be wondered upon is the outcome.
Well thats as far as the UK's banking system goes right now, as for theories in this thread, time will tell and everyone has their own opinions.
Edit to add: I made a thread on the financial mess this week that can be read here
I would appreaciate any input.
[edit on 22-10-2009 by XXXN3O]