Preparedness for when

Frugalsod

moneyistooshorttomention wrote: »

Can we have more details on this please? and are there any newspaper articles about this happening we could have links to?

The press will not cover it because they fear losing advertising revenue. There are cases of US banks questioning why people want to withdraw money but these are generally larger sums for purchase of cars etc but they are being questioned now because of tougher money laundering laws. Most know about the $10 000 reporting limit for bank transactions but the banks are now routinely inspecting smaller sums as well as low as $3000. You only have to see in numerous Zerohedge articles about the undeclared war against cash. There is also the presumption that if you are holding cash you must be involved in illegal activities. So the fact that you do not trust the banks is not an acceptable answer.

Remember that all the big US and European banks are probably insolvent since 2008 and the tens of trillions in additional liquidity has only masked that fact. The banks assets are still marked do model not reality so if Greece defaults it will wipe billions from many holders of that debt. More importantly it will require all other similar debt to be written down significantly and if this were to happen most big banks would be insolvent over night and so the bail ins would begin.

So the war against cash is basically to drive all money into the banks in readiness for bail ins.

So you may have a million pound house no mortgage and be feeling secure but the problem is that if you ever want to sell that home in a crisis then the only buyers will be those with cash. If our credit system collapses then the real value of peoples homes could be only 10% of what they think. This is what is happening in Greece and Cyprus. You can see homes for sale at prices from 2012 and they have not had any offers in three years. They are simply overvalued and so if they were priced to clear it would be fire sale prices.

Frugalsod

pineapple wrote: »

Agreed but it's the direction of travel that's the issue. It means a lack of confidence.

Yes but this change is because they are tied to the value of the euro. If the situation were reverse it could be raised to £95 000.

Even a reduction to £50 000 would barely impact most people.

[Deleted User]

Wait for the actual FACTS before going into a panic about migrants and what they do or don't do. There is much hysteria in situations where there is controversy and rumours abound while the media will NOT be reporting anything of a positive nature because it doesn't sell papers or catch new viewers/subscribers. This is a transiting dilemma and changing all the time but before thinking the very worse of the situation wait for the REAL facts which might be very different to the impressions given online and in the media.

Karmacat

Frugalsod, thanks for those youtube channel names

armyknife

1Tonsil wrote: »

......

This just now filmed by a charity in Belgium who were cooking eight hundred meals a day for migrants... http://tothedeathmedia.com/muslim-migrants-storming-europe-spitting-on-free-food-given-to-them-because/

I think this is the start of civil unrest in many countries and will end in all out chaos and violence.

Wow 1Tonsil, that's a pretty nasty website you've found there.

TattyG

Sorry for jumping in!

A little while ago someone asked about solar chargers and someone else recommended one on AmaZ0n which was quite pricey (£100+) but was meant to be really good - does anyone have the link?

I have had a look but can't get search function to work!

Thank you xx

Frugalsod

armyknife wrote: »

Wow 1Tonsil, that's a pretty nasty website you've found there.

There are a lot of Youtube channels that are worse. Though if you see any clips of Fox news you would find this pretty mild in comparison. In fact I have stopped subscribing to some because of their hatred and simple bigotry.

maryb

Meanwhile, another winter looms and another risk of power cuts

http://www.telegraph.co.uk/finance/newsbysector/utilities/11844750/Electricity-network-in-uncharted-territory-as-blackouts-loom.html

And why does this bit not surprise me? Clue: the same man who did not understand the difference between tactical and battlefield WMD

"The suspicion is that Mr Blair went into European climate talks in 2007 not even knowing the difference between energy – which covered everything from transportation to home insulation – and electricity. Almost a decade later, this possible schoolboy error by Mr Blair and his negotiating team could lead to blackouts for the “first time in living memory”, Mr Atherton believes."

1Tonsil

The two emails were from friends in the US who saw my comment on facebook about not having access to my own money which was paid in by cheque to a savings account. They had it happen to them in the last month as well.

I do wonder if it is sensible to have stashes of cash around the house, not only is it a risk for theft etc, but if you had euros and it crashed through the floor, your money would be near worthless and no one would want it. It would be better to have that money in something you can use, like food or fuel, or other stuff you could barter.

I have not asked on forums if this is happening a lot or if there is an official reason for it, but I am going to ask around and see how much it is happening and where. I think this is more widespread than I thought originally. Watch this space.


My fear is not that they will seize deposits over one hundred thousand euros...very few have that much money anyway. My fear is not being able to take my hundred euros a week that we need for food , water and fuel. I spent most of our savings on paying bills in advance and our mortgage in advance, which is safer than trying to save it around the house. Isnt it what preppers are usually advised to do, along with paying off debts?

I have some food stocks and fuel and water, but you also need cash for other things like meds and repairs. If it gets really bad you need some getaway money, although I am beginning to wonder where we could go to that would be safe.

We donated a lot of our furniture, clothes, even food when we went to Thailand for my work. The families in our village needed them more than I did, and an uncluttered home is easier to keep nice and you have more room for food stores. I noticed today that the local supermarkets have increased their extra large catering tins...so the range of food is bigger. They had giant cans of beans, kidney beans, various veg, fruit cocktail and giant cans of tuna in oil. I am going to take any spare cash from the weekly shopping to buy some in this week. I may have to take my OH with me as well, those big cans are going to be heavy to carry to the car!:rotfl:

moneyistooshorttomention

Frugalsod wrote: »

Yes but this change is because they are tied to the value of the euro. If the situation were reverse it could be raised to £95 000.

Even a reduction to £50 000 would barely impact most people.

So, what level of savings would you reckon that, say, the vast majority of the population don't go over? For instance - what percentage of the population would you say have:
- over £20,000
- over £10,000

and would this be gross (ie they've also got debts - despite having savings) or net (ie they really ARE savings - as they don't have any debts)?