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Interest Rates Question

Discussion in 'SMB' started by Kent_Mackem, Nov 15, 2013.

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  1. Kent_Mackem

    Kent_Mackem Striker

    If the Bank of England rate goes up in the next few months my mortgage payments will go up. Does this extra amount stay with the mortgage lender or do they have to pass on that full amount to the government or Bank of England?
  2. greedminds

    greedminds Striker

    it depends when they borrowed the money

    "no" is honest answer , but they will have to pay it on further borrowings
  3. monkeytassle

    monkeytassle Striker

    I will explain this when at a keyboard but greedy is right. No. ​
  4. sick

    sick Winger

    If they go up too far then the government won't be able to manage their debts and the country will go bankrupt due to the massive deficit we have racked up. You will probably lose your job, their will be riots on the streets, your savings will be worthless and you will be eating your dog just to get some food down your neck.

    I wouldn't worry about who gets your mortgage payment.
  5. Skandhaless

    Skandhaless Striker

    I will eat his dog first , every man for themselves ;):lol:
  6. Randy Ostrich

    Randy Ostrich Striker

    Absolute nonsense
  7. lordy

    lordy Striker

    if theres any dogs left, its a dog eat dog world
  8. Interest rates are a scam so is inflation. A measure to dilute the money in our pockets against our will for the benefit of who exactly? The same people that are creaming off the top.

    Did we ever find out who the Bank of England was bought from after WW2 to re-nationalise it? Considering we were pretty much skint straight after the war, I wonder what it was bought with if it wasn't for money? The names of the beneficiaries have never been disclosed.

    Interesting story about one of the Rothchilds 'buying' it and privatising it after the battle of Waterloo.

  9. [​IMG]
  10. oakley

    oakley Guest

    The bank was bought by whomever owned it. They didn't go out and buy the shares. They enacted a statute which transfered all the shares to the Treasury by operation of law.

    The government paid by swapping the shares in the bank for government stock (i.e. bonds) bearing interest at 3%, which the government could redeem by notice after 20 years. I doubt the government has bothered to redeem after 1966 since interest rates since then don't make it worthwhile but I don't know.

    The "Interesting story" was false. The Bank was in private hands until 1946.

    EDIT: without interest, nobody would ever lend money. Why would they bother?
  11. The question is still there, who were these private hands that were 'forced' to hand over The bank of 'England' in 1946?
    How was the story false? Did the Rothchilds not go from being mere shareholders to owners of the bank of England after the battle at Waterloo?
    Last edited: Nov 15, 2013
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