Where will Gov't get the money from

[barrie_burn]

If they have to pay out £70 billion or so over the next 12 months where is it coming from and what will be the effect on the economy?.

Borrow it? Who from.
Print it?
Discuss

[1959_60]

The Bank of England currently hold £195 billion in it's gold reserves.

The World Bank is worth $3.62 trillion. This makes it the fourth largest bank in the world.

[The Bedlington Terrier]

Please, never, ever forget this is a Tory government.

They will pretty soon put profit before people.

Expect an announcement very imminently to the extent that the COVID-19 virus in the UK has flattened itself out.

Back to "normal" and back to work by May Day.

[barrie_burn]

We won't be back to work by May Day and it will be a long time after that.

The Bank of England have gold reserves but is it suggested that we sell some.If so then who is buying and the price will drop.It is only metal that can be used for jewellery.

[sinkov]

If they have to pay out £70 billion or so over the next 12 months where is it coming from and what will be the effect on the economy?.

We pay £19 billion a year to the EU and give away £13 billion a year in Foreign Aid, for which despots, tin pot dictators, corrupt governments and fat cat CEOs of countless charities and NGOs are eternally grateful, so there's almost 50% of it at a stroke. God knows where the rest comes from though.

[The Bedlington Terrier]

We won't be back to work by May Day and it will be a long time after that.

The Bank of England have gold reserves but is it suggested that we sell some.If so then who is buying and the price will drop.It is only metal that can be used for jewellery.

Fancy a small wager barrie my boy?

[barrie_burn]

Fancy a small wager barrie my boy?

Why not.

With my wife and I being ex Bank staff and the Bank's cancelling their dividends today we just lost 25% of our annual income.Their Pension fund is ring fenced or I at least hope it is or we could be on the street.

Seriously though that's only money.Keep healthy everyone.

There are an awful lot of people who are now in serious trouble through no fault of their own,we can only hope that things work out ok for them.

[The Bedlington Terrier]

Why not.

With my wife and I being ex Bank staff and the Bank's cancelling their dividends today we just lost 25% of our annual income.Their Pension fund is ring fenced or I at least hope it is or we could be on the street.

Seriously though that's only money.Keep healthy everyone.

There are an awful lot of people who are now in serious trouble through no fault of their own,we can only hope that things work out ok for them.

This lockdown is not financially sustainable barrie. Johnson might be a "Grade One Dummy", but even this nitwit will see sense and get us back to "normal" and SOON!

[sinkov]

With my wife and I being ex Bank staff and the Bank's cancelling their dividends today we just lost 25% of our annual income.Their Pension fund is ring fenced or I at least hope it is or we could be on the street.

Barrie, you worked in banking, just the man to explain to me something that has annoyed and irritated me for years.

It's 1.58, there's a horse running in the 2.00 at Ripon which I want to back, but I haven't got enough money in my betting account, I can log onto the website of any of the 8 bookies I use and deposit say £20, the transaction is instant, my money is in my account, I put the bet on and two minutes later my horse is running at Ripon with my £20 on it's back.

If it wins and I want to withdraw my profit, I have to wait, it can take 4/5 days for the money to arrive in my account. WTF is going on, why are deposits instant but withdrawals have a time lag ? Is it the banks or the bookies playing bonny with my money ?

[barrie_burn]

Barrie, you worked in banking, just the man to explain to me something that has annoyed and irritated me for years.

It's 1.58, there's a horse running in the 2.00 at Ripon which I want to back, but I haven't got enough money in my betting account, I can log onto the website of any of the 8 bookies I use and deposit say £20, the transaction is instant, my money is in my account, I put the bet on and two minutes later my horse is running at Ripon with my £20 on it's back.

If it wins and I want to withdraw my profit, I have to wait, it can take 4/5 days for the money to arrive in my account. WTF is going on, why are deposits instant but withdrawals have a time lag ? Is it the banks or the bookies playing bonny with my money ?

First thing - How do you deposit £20 into the Bookies account?