Preparedness for when

nuatha

GreyQueen wrote: »

At one point, Teach told us there would be no tea and bikkies until all those balloons up there were killed, so we really let rip.:rotfl:

Threatening to withhold tea and bikkies is extreme coaching - is he preparing for the End Times?

ivyleaf

Well nuatha, you can't help wondering :rotfl:

So glad you're feeling better GQ and enjoyed your archery :j

mardatha i love your description of trying to get the RV out I hope you manage it and enjoy the garden centre!

Karmacat

MrsLurcherwalker wrote: »

Pity the poor people in Ramadi today whose lives have just imploded with the invasion of thier city by ISIS terrorists, not only are they between a rock and a hard place but in a war zone and having to literally run for thier lives, God be with them!!!!!

You're right. These are apocalyptic days for them

Frugalsod

GreyQueen wrote: »

Hmmmm, the late May bank holiday has 'form' - in WW2 it was its predecessor Whitsun when the grubbyment sprung clothes rationing on the populace.

I seem to know a lot of people with 23rd as a payday so bank accounts will be plumptudionous going into this weekend, which would be an attractive target if someone was thinking bail-ins. Mine will be slightly skinnier after I extract some of the folding stuff in the next couple of days.

Personally I do not see a bail in as likely right now. It is usually preceded by some financial news. The places that I see bail-ins as likely are still Ireland, Greece, Spain, Portugal, Austria and Slovenia.
Once these are bailed in then the impact of losses will transfer closer to home. Then we will see problems in banks in France and those banks that are big in the derivatives markets particularly Barclays and Deutsche bank.

The risks for Greeks are that there incomes will be converted to a new currency and their debts remain in euros. That will mean a likely 40% increase in their debt burden.

The same could happen here, with wages being cut because of internal devaluation. Remember austerity might hit the public sector first but eventually it will drive down wages in the private sector. So any debts will be harder to pay off. This is why I am concentrating on clearing my debts. If my income falls then if I am debt free I will have a lot more scope to cope.

Even so with governments pushing for cash less societies it will make it ever hard to avoid getting bailed in. So keeping several months supply of cash will be enough for most people. There may also be the opportunity to buy food online or with credit and debit cards up to a certain amount so you might still be able to cope.

The best thing to do if you are anxious about a bail in is to slowly withdraw money as often as you can. My preferred route is via cash back. It might only be £50 at a time but if this were to be stopped it would cause panic if the newspapers reported it.

Personally I am not worried about being bailed in. Like most people I do not have enough money to worry about and if I am caught up in a bail in then there will be enough other victims to guarantee mobs in the streets.

elona

Mardatha

Consider the same principle as extracting winkles - use a sharp pin!!!!!

I need to do financial paperwork this afternoon and can't get motivated so having a lazy morning and then will get settled at the kitchen table with lots of tea later.

On the few occassions I am alone I find myself putting the tv in our bedroom on for company and then staying awake till 2p.m. :eek:

Hope you get lots of sweeties.

mardatha

One day at a time Elona pet ... the wheel of life keeps turning and you just have to turn with it eh? Sending you love and strength xx
And will def try the pin bit and then step back smartish!

moneyistooshorttomention

Karmacat wrote: »

You're right. These are apocalyptic days for them

True indeed about the people from Ramadi and I wouldn't fancy being in the position of the people in Baghdad either (breathes sigh of relief that some friends of mine moved out of there years ago......).

Cue glad that some people listen - but why the **** didn't the relevant Government (Tony Bliar I'm looking at you.....) listen when they were warned how things would be in years to come. None so deaf as those that will not hear...and did not seem to realise they were laying the seedbed for a group like ISIS to come onto the scene.

southantrim3

Frugalsod

"Personally I do not see a bail in as likely right now. It is usually preceded by some financial news. The places that I see bail-ins as likely are still Ireland, Greece, Spain, Portugal, Austria and Slovenia."

Curious to know your thinking behind the possiblity of Ireland still being a "bail-in" - as interest to me living in N Ireland, so a very close neighbour...

jk0

Not sure if it was a prophetic dream or just my own muddled thinking, but it recently struck me that a 'bail in' could be effected by a change in the currency to say SDR's.

They wouldn't need to print any more notes or coins. Just even paying for a newspaper would be done by tapping your debit card.

All existing notes, coins & deposits could be declared worthless overnight. Thus the banks would get a wonderful boost, as most of their debts would evaporate.

From the point of view of a heavily indebted government and banking system, what's not to like?

Frugalsod

southantrim3 wrote: »

Frugalsod

"Personally I do not see a bail in as likely right now. It is usually preceded by some financial news. The places that I see bail-ins as likely are still Ireland, Greece, Spain, Portugal, Austria and Slovenia."

Curious to know your thinking behind the possiblity of Ireland still being a "bail-in" - as interest to me living in N Ireland, so a very close neighbour...

Much of the debts have been transferred to the state but the banks are still having a significant problem with non performing loans. Many people are struggling to make mortgage payments and with Irish bankruptcy being particularly onerous ie 12 years unlike 2 or 3 years in the UK. If these people were to go bankrupt then that would almost be an entire generation out of the housing market. Private debts are still considered a significant risk.

http://www.zerohedge.com/news/2015-02-26/eu-warns-debt-dangers-facing-ireland-and-euro-zone-–-“emperor-has-no-clothes”

House prices are back at a ridiculous level especially in Dublin and so while on paper the banks look solvent it is all a house of cards still.

The central government is expected to need another bailout at some point so it is only a matter of time. They are only slightly outside the deficit target but that could expand rapidly as world trade collapses. If you look at the Baltic Dry Index which is near all time lows you can see world trade is falling.

Unemployment is still above 13% and anything above 10% is thought of as a depression.