Yet another protest "Save Our Savers" - Inflation is destroying your savings.

[Tulkas]

From their site:

Inflation is destroying your savings.
Support our campaign for a suspension of income tax on savings interest.

Maybe they should know about bitcoin ? Lets send then some bitcoin operation flyers ?

?

http://www.saveoursavers.co.uk/


Interview on BBC Radio

http://www.youtube.com/watch?v=tr25gR8B5ws&feature=player_embedded

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[TECSHARE]

That's the method I found my way to Bitcoin. This is a market of BILLIONS of people just waiting to be introduced (anyone tired of the current banking system).  Give the people an option to tell banks to go fuck themselves, they WILL take it.

[jakeR]

Saving money is important for many of us. However, not everyone agrees with this belief. Spending money beyond your budget is not good, but what a lot of people don't understand that they really lose money if they save it. Inflation rate is one factor that affects our saving habit.

[Balthazar]

Buy uranium, and you will never lose your savings

[Mobius]

That's the method I found my way to Bitcoin. This is a market of BILLIONS of people just waiting to be introduced (anyone tired of the current banking system).  Give the people an option to tell banks to go fuck themselves, they WILL take it.

If you are able to earn a higher rate of return on your savings then the inflation rate, then the net effect is you have more buying power after the interest and inflation are both taken into effect. The problem is that taxes will take a portion of your return, regardless of the inflation rate, so your rate of return is really only ~2/3 of what you actually make because of taxes, so you need to make 1.5X the inflation rate just to break even.

[Bitcoin Hitter]

im process my loan but not response ;( but i think it will strong until end of this year .

[Yakamoto]

Give the masses Bitcoin!

Give it to them!

Someone needs to start making Bitcoin pamphlets. We could send boxes to things like these.

Inflation is my enemy (figuratively) and I would do everything to stop it, but it requires the strength of many people, and so far it's only making a little progress around me, for I am just a single man...

[Bitsaurus]

That's the method I found my way to Bitcoin. This is a market of BILLIONS of people just waiting to be introduced (anyone tired of the current banking system).  Give the people an option to tell banks to go fuck themselves, they WILL take it.

If you are able to earn a higher rate of return on your savings then the inflation rate, then the net effect is you have more buying power after the interest and inflation are both taken into effect. The problem is that taxes will take a portion of your return, regardless of the inflation rate, so your rate of return is really only ~2/3 of what you actually make because of taxes, so you need to make 1.5X the inflation rate just to break even.

Or you just need to make sure that the documents holding your tax filing information is safely stored on hard drive....that dies as soon as you get a request to meet with the IRS auditor 

[Lethn]

Fucking noobs, why aren't they protesting the central bank itself? Oh wait, they don't know anything about the economy, like most protesters.

[Gugun Blues Shelter]

Fucking noobs, why aren't they protesting the central bank itself? Oh wait, they don't know anything about the economy, like most protesters.

maybe a lot of people want to claim their money . thats normal . and the end no one will respond about it .

[polynesia]

Fucking noobs, why aren't they protesting the central bank itself? Oh wait, they don't know anything about the economy, like most protesters.

They just protest, and hope the 'appropriate' authorities take action. 

[bitsmichel]

That's the method I found my way to Bitcoin. This is a market of BILLIONS of people just waiting to be introduced (anyone tired of the current banking system).  Give the people an option to tell banks to go fuck themselves, they WILL take it.

I think in either way bitcoin will gain more popularity, no matter what banking systems do, because to use creditcard systems for online payments is 1980s technology. It's like watching black and white television when there's color tv 

But you are right, the continuing inflation will cause people to invest their savings in other things, be it bitcoin or something else.

[Balthazar]

Buy uranium, and you will never lose your savings

[bigtimespaghetti]

It's interesting watching the public responding to systemic problems.

This ridiculous idea that we are automatically entitled to anything including interest makes for a disheartening narrative.

The UK is heading for such a fall.

[Mobius]

That's the method I found my way to Bitcoin. This is a market of BILLIONS of people just waiting to be introduced (anyone tired of the current banking system).  Give the people an option to tell banks to go fuck themselves, they WILL take it.

If you are able to earn a higher rate of return on your savings then the inflation rate, then the net effect is you have more buying power after the interest and inflation are both taken into effect. The problem is that taxes will take a portion of your return, regardless of the inflation rate, so your rate of return is really only ~2/3 of what you actually make because of taxes, so you need to make 1.5X the inflation rate just to break even.

Or you just need to make sure that the documents holding your tax filing information is safely stored on hard drive....that dies as soon as you get a request to meet with the IRS auditor 

This would probably not work. The IRS has access to your income as employers and anyone who give you a tax form sends a copy of the tax form to the IRS. What the IRS usually looks at when they audit you are your deductions, if you are not able to back up your deductions then they would likely be disallowed.

[polynesia]

On a separate note, dividends and interest can be considered as returns to share holders/bond holders.
The differential treatment on these two should be removed.

That would solve the protest on taxes (apart from inflation) eating into savings.

[griffga]

It is sad to see how far the interest on general savings accounts has slipped. In 2004 I had a savings account at 6% interest. Now its more like .6% lol