Just how safe are your premium bonds

[King Penda]

A simple question just how safe are they realy let’s say 70% of people wanted them back could you all cash out ? 

[Democorruptcy]

Can you go viral with this and have 70% all withdraw their money on 31st Oct, so they don't have time to change the number of prizes for Nov 1st? Cheers.

[Petatep]

4 minutes ago, King Penda said:

A simple question just how safe are they realy let’s say 70% of people wanted them back could you all cash out ? 

You're scaring me now, are you implying UKGOV is not good for its's investments?

(retorical)

[Loki]

15 minutes ago, King Penda said:

A simple question just how safe are they realy let’s say 70% of people wanted them back could you all cash out ? 

Assume it's all a Ponzi until proven otherwise

[King Penda]

3 minutes ago, Petatep said:

You're scaring me now, are you implying UKGOV is not good for its's investments?

(retorical)

I’m surgesting the west is not.everyone says they are the safest investment platform in the uk but it’s never actually been tested has it .

5 minutes ago, Loki said:

Assume it's all a Ponzi until proven otherwise

Would banksters and politicians lie to us ?

[leonardratso]

hey backed by HM treasury. Which is backed by tax payer, all 3 of them.

[Petatep]

3 minutes ago, King Penda said:

 

 

 

3 minutes ago, King Penda said:

 

Would banksters and politicians lie to us ?

Never, how could you think such a thing?

[Loki]

2 minutes ago, King Penda said:

Would banksters and politicians lie to us ?

[King Penda]

2 minutes ago, Petatep said:

 

Never, how could you think such a thing?

True best get Spunko to lock the thread and I will go stand on the naughty step for an hour for asking a daft question 

[leonardratso]

pretty useless as an investment when rates are going up, sorry, they are probably either useless or brilliant, no in between on them really, and the brilliant ratings will be far and few between.

Im pretty sure they are rigged as well, i noticed when i start draining them monthly - the small wins dry up all of a sudden.

[HousePriceMania]

1 hour ago, King Penda said:

A simple question just how safe are they realy let’s say 70% of people wanted them back could you all cash out ? 

Mine are down 12% in a year. 

 

Does that answer your question? 

[Wight Flight]

1 hour ago, leonardratso said:

hey backed by HM treasury. Which is backed by tax payer, all 3 of them.

Only 2 now. I am ducking out.

[Ash4781b]

It’s inflation and the fact that they don’t pay interest that is the problem. They are raising the rate though in November I think.

[Virgil Caine]

Slightly better than holding cash in a current account and buying a lottery ticket each week.

[Democorruptcy]

8 hours ago, leonardratso said:

pretty useless as an investment when rates are going up, sorry, they are probably either useless or brilliant, no in between on them really, and the brilliant ratings will be far and few between.

Im pretty sure they are rigged as well, i noticed when i start draining them monthly - the small wins dry up all of a sudden.

Yes, if you didn't need access to the money, Tesco's 4.95% %yr Fixed Rate is £200 a month on a max holding. Most PB holders will struggle to match that, even NS&I increase their rates?

[crashmonitor]

Depends what's is more sacrosanct, the index linked bennies or the mugs that are funding them by lending to the Government at inflation minus 9%.

Yep get the printer out, the answer is obvious; Bennies rule ok.

[King Penda]

39 minutes ago, crashmonitor said:

Depends what's is more sacrosanct, the index linked bennies or the mugs that are funding them by lending to the Government at inflation minus 9%.

Yep get the printer out, the answer is obvious; Bennies rule ok.

Until they don’t but by then every other source of cash ie pensions etc etc will have been pilfered

[spygirl]

Yes.

Theyd just print the money.

Premium bond holdign  are held in the UKGOV debt account.

 

11 hours ago, leonardratso said:

pretty useless as an investment when rates are going up, sorry, they are probably either useless or brilliant, no in between on them really, and the brilliant ratings will be far and few between.

Im pretty sure they are rigged as well, i noticed when i start draining them monthly - the small wins dry up all of a sudden.

PB are/were useful for HRT as a near cash euqivalent.

 

[leonardratso]

menopausal wimmin? why do they need cash?

[Errol]

12 hours ago, King Penda said:

A simple question just how safe are they realy let’s say 70% of people wanted them back could you all cash out ? 

They aren't safe. Read the Ts & Cs. The Chancellor can change the Terms at any time with a simple announcement in a newspaper. Redemptions can be suspended, values changed, basically anything they like. It's all in the contract.

[King Penda]

1 minute ago, Errol said:

They aren't safe. Read the Ts & Cs. The Chancellor can change the Terms at any time with a simple announcement in a newspaper. Redemptions can be suspended, values changed, basically anything they like. It's all in the contract.

Your kidding ? 

[Lightly Toasted]

If 70% want them back at the same time, it's already the end of the UK's financial world. I mean, where will you transfer them? There won't be any banks standing at that point. And good luck getting the NS&I website to process so many redemptions.

But in theory the govt could print money (passing new laws if necessary).

[King Penda]

29 minutes ago, Lightly Toasted said:

If 70% want them back at the same time, it's already the end of the UK's financial world. I mean, where will you transfer them? There won't be any banks standing at that point. And good luck getting the NS&I website to process so many redemptions.

But in theory the govt could print money (passing new laws if necessary).

It’s got some fair gates on it has the Earnie building 

[Green Devil]

On 23/10/2022 at 23:05, leonardratso said:

hey backed by HM treasury. Which is backed by tax payer, all 3 of them.

Doesnt matter how many tax payers there are. Uk gov is backed by an unlimited money printer. Youll always get your money back. 

. 

. 

. 

Even if £1 is worth 1 peanut. 

[Sasquatch]

46 minutes ago, Green Devil said:

Doesnt matter how many tax payers there are. Uk gov is backed by an unlimited money printer. Youll always get your money back.

Even if £1 is worth 1 peanut. 

An opportunity to quote the late great Douglas Adams at this point:

 

“Thank you. Since we decided a few weeks ago to adopt the leaf as legal tender, we have, of course, all become immensely rich.

But we have also", continued the management consultant, "run into a small inflation problem on account of the high level of leaf availability, which means that, I gather, the current going rate has something like three deciduous forests buying one ship's peanut.

So in order to obviate this problem", he continued, "and effectively revalue the leaf, we are about to embark on a massive defoliation campaign, and...er, burn down all the forests. I think you'll all agree that's a sensible move under the circumstances.”