Hi, apologies if this has been covered elsewhere, but I have gone back ten pages through the forum and cant find it covered.
My question is how do I make my savings utterly safe in case the brown stuff hits the fan. I am not worried about interest rates, only that, if the world banking system goes tits up, my life savings will be safe.
For example I have some money in NS&I premium bonds, these are sold as 100% safe as your money is government backed. Is this correct? ( I mean the 100% safe bit)
A while ago I was chatting to a financial consultant ( at a party) who passed the comment that if we do go over the precipice the £50,000 guarantee the banks give out, won't be worth a jot when bank after bank start to topple.
Short of buying gold ingots and burying them in the garden, what is the safest bet for a natural born worrier like me?

Sorry to say friend I have never experience these kinds of strategies ever in my life, but I have a great suggestion for you. You should have to confirm/ get the solution from any experienced person. By the way friend I am looking for some iforamtion about investment/ savings, if you know about these or have experience please share your post here.

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No savings are safe.
The Premium bonds 100% Guarantee is that you will get your nominal money back - providing there are enough people willing to squander their money on supporting the Government via ever increasing taxation, when you decide to cash in your bonds. However the amount of money you get back will be worth less than you paid because of the Government's policy of printing more & more paper money to fund their overspending which thus creates inflation. (Current official average rate of inflation (the rate your money looses its value) is 4.5% so your inflation rate could be 10-20%)
The best way to look after your life savings is to develop your knowledge of investing (or team up with someone who knows) so you can identify the sharks that Government & financial institutions hire to rob you of your savings.

Hi... This is to tell you that I am new to here.. I want to know that what discussion is going on and what are we supposed to post in here... Your suggestions would be welcomed!