Thanks to Dixie for the thread title, she asked me what shares I would reccomend in a different thread

I don't really know.. I'm no finance expert & just chucked the idea of shares as a gift idea out there.

But what do people think about all this banks going bust business? Some are saying it's going to lead to a worldwide collapse in the financial systems..

What I do know from talking to a friend who is heavily involved in investments advice as a career, is that we've had a 'phoney economy' for many, many years now - both here and in the states - whereby the major financial organisations have been getting away with essentialy 'bent' methods of dealing in thoeretical value that doesn't actually exist, on a vast scale.

The feeling has always been that it can't last, that in future years we will look back on our current financial system and regard the day-to-day activities of many of the major players as illegal.. but not before there is an extremely painful series of 'corrections' 

Do you think that time is upon us?

What are the safest things to do with your money & investments through this period, if it turns out to be as bad as the gloomiest predictions?

My immediate reaction is sell everything for gold, and ask the dog if he minds sharing his bone-hole with a gold bar

Me and hubbie were talking about our savings last night. Should we cash them in and put it under the bed

Don't want to lost them all after bank/building society going bust

I think you may have something there Jack.

Predictions are Merrill Lynch (another big finance house) is about to go under and IAG (one of the biggest insurers) ... if you have stock and shares or money invested in a company that uses your money then the likelihood of getting what you put in back are going to be slim,

I'll be putting my money under the mattress in future (that's if I had any) - at least I will know where it is!!!

We've got ISA's and they're all linked with the stocks and shares aren't they Think they are

Suddenly our money will be worth nothing