{"id":904,"date":"2008-10-12T22:00:59","date_gmt":"2008-10-12T21:00:59","guid":{"rendered":"http:\/\/blog.widmann.org.uk\/2008\/10\/12\/904\/"},"modified":"2008-10-12T22:00:59","modified_gmt":"2008-10-12T21:00:59","slug":"7-interest-odds-of-27","status":"publish","type":"post","link":"https:\/\/widmanniana.org\/blog\/7-interest-odds-of-27\/","title":{"rendered":"7% interest = odds of 2\/7"},"content":{"rendered":"<div style=\"float: right; margin-left: 10px; margin-bottom: 10px;\">\n<a href=\"http:\/\/www.flickr.com\/photos\/alanstanton\/534663318\/\" title=\"photo sharing\"><img decoding=\"async\" src=\"http:\/\/farm2.static.flickr.com\/1351\/534663318_e6c41b2ef4_m.jpg\" alt=\"\" style=\"border: solid 2px #000000;\" \/><\/a><br \/>\n<span style=\"font-size: 0.9em; margin-top: 0px;\"><br \/>\n<a href=\"http:\/\/www.flickr.com\/photos\/alanstanton\/534663318\/\">Tottenham Betting Shops #12<\/a><br \/>\nOriginally uploaded by <a href=\"http:\/\/www.flickr.com\/people\/alanstanton\/\">Alan Stanton<\/a><br \/>\n<\/span>\n<\/div>\n<p>I found <a href=\"http:\/\/politicalbetting.com\/index.php\/archives\/2008\/10\/10\/why-is-gord-fighting-for-the-interest-rate-gamblers\/\">this blog posting<\/a> on PoliticalBetting.com a very refreshing on the Icelandic bank collapse.<\/p>\n<p>It basically argues that putting your money into an account that pays higher interest than the average bank is effectively a gamble:<\/p>\n<blockquote><p>Those who handed over their cash to these banks were not normal savers but gamblers who were getting odds of up to 2\/7 that their money would be safe.<\/p>\n<p>[&#8230;]<\/p>\n<p>I\u2019m a gambler but this was too risky a bet for me. [&#8230;] But those who took the Icelandic gamble have been enjoying the vastly inflated returns and now, thanks to Brown and Darling, could get most of their money back.<\/p><\/blockquote>\n","protected":false},"excerpt":{"rendered":"<p>Tottenham Betting Shops #12 Originally uploaded by Alan Stanton I found this blog posting on PoliticalBetting.com a very refreshing on the Icelandic bank collapse. It basically argues that putting your money into an account that pays higher interest than the average bank is effectively a gamble: Those who handed over their cash to these banks were not normal savers but gamblers who were getting odds of up to 2\/7 that their money would be safe. [&#8230;] I\u2019m a gambler but this was too risky a bet for [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[99,159],"tags":[],"class_list":["post-904","post","type-post","status-publish","format-standard","hentry","category-economics","category-en"],"_links":{"self":[{"href":"https:\/\/widmanniana.org\/blog\/wp-json\/wp\/v2\/posts\/904","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/widmanniana.org\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/widmanniana.org\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/widmanniana.org\/blog\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/widmanniana.org\/blog\/wp-json\/wp\/v2\/comments?post=904"}],"version-history":[{"count":0,"href":"https:\/\/widmanniana.org\/blog\/wp-json\/wp\/v2\/posts\/904\/revisions"}],"wp:attachment":[{"href":"https:\/\/widmanniana.org\/blog\/wp-json\/wp\/v2\/media?parent=904"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/widmanniana.org\/blog\/wp-json\/wp\/v2\/categories?post=904"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/widmanniana.org\/blog\/wp-json\/wp\/v2\/tags?post=904"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}