Preparedness for when

sb44

Well when the SHTF and I am skint, I have a novel way to get about without using the car or bus.

https://www.youtube.com/watch?v=qQ02lHJ_hP4

elona

I thought it was going to be a Sinclair C5 or a skegway!!!;)

sb44

elona wrote: »

I thought it was going to be a Sinclair C5 or a skegway!!!;)

Well there would be more chance of me getting on one of those than getting in that position, never mind moving like that!

Frugalsod

nuatha wrote: »

There's doom mongers looking for any sign that can be used to fit their pet theory (and sell you prepping gear and gold into the bargain)

Agreed, but that does not mean that they are all wrong when they describe the real problems out there. There are significant asset bubbles all over the world in property and stock markets funded by a huge credit bubble which is completely unsustainable. When it all implodes is another matter. My own personal theory is by 2017. They do also add in what they think are parts of the problem which are really nothing to do with the problem, such as benefits. This is down to their political biases. This is why I might read zero hedge for the data but ignore the comments about buying gold cutting benefits etc because they are wrong.

While I do see significant problems ahead because of excessive credit I am not suggesting that anyone buy gold unless they have covered all the basic prepping and food stocks, which I think of as more valuable particularly if there was hyperinflation. After that I would consider gold coins but because they are free of capital gains should there be a massive revaluation. Though if they push for a cashless society would they allow us to own any gold coins even if they are legal tender?

PS I am not trying to sell Gold or prepping items.

GreyQueen

Morning all.

I'm just coming to the end of a very interesting book called Paper Money Collapse; the folly of elastic money by Detlev S Schlichter.

Makes lots of interesting points about the consequences of an elastic money system, such as we've enjoyed since 1971, and the assets bubbles which are an inevitable conseqence of it. There is a reasoned argument that QE and state control of interest rates had been continiously postponing the inevitable bursting of the asset bubbles and making the eventual crash much steeper and harder than it would otherwise have been.

Re prepping, there's prepping to survive short-term crises such as lack of water, food, power. And there's prepping to survive and prosper longer-term. I deal with people who end up selling their belongings to subsidise themselves through long-term unemployment. Such as jewellery, and then some of the furniture, and then anything which isn't bolted down. Arguably, they might have been better to spend a bit of their money in good times on bullion coins rather than another lot of short-lived consumer goods, as these lie off the radar and are saleable in straightened times with no one in officialdom being any the wiser.

I believe there have been about twenty hyper-inflations, as defined by prices going up 50% or more in a month, one in the late 19th century, the rest in the twentieth and then possibly Argentina just into the 21st century. I have a 10 billion dollar Zimbabwean banknote and a 1923 200 mark piece made from flimsy aluminium about the weight of a shirt-button. Sort-of a mini black museum of dying fiat currencies up in the wall unit. Just need some notgeld and I'm good to go.

All fiat money dies a painful death eventually, but some beggars will be the ones left standing chairless when the music stops. And that's where everything you thought you had in terms of wealth evaporates.

moneyistooshorttomention

One way or another - I will agree with the physical possessions as being safer than money as such. If the rich didn't think so - then they wouldn't go in for Art (ie paintings worth loadsa money) and fine wine (ie bottles of wine costing hundreds of £s a go), etc.

Which still leaves Mr/Mrs Ordinary Person In The Street wondering how on earth to have their personal little bit of savings safe somehow.

Not a problem I'll have personally for a while yet:( - courtesy of a list of Work To Do On House yet that is around £25,000 long:eek:. So - no concerns about "stashing the cash" for a while then...:cool:...as it will just go straight into that work. But then....? Then what?

I'm guessing that's part of why a lot of Mr/Mrs Ordinary Person In the Street are now spending more than they did on "Experiences" - as that's something that definitely cant be taken away from you. You've had that Experience - done/dusted/crossed off the Bucket List.

Personally - I've been paying a small amount of money each month into a credit union just in case. The interest is even worse than on a standard building society account, etc - ie pennies a year:(. But I am rather coming to regard the chance to borrow money if I HAD to (ie an emergency) from that credit union as a sorta equivalent to keeping thousands of £s in savings (and that money, at least, couldn't be stolen off me by a bail-in etc). So - I still keep the ability to deal with any financial emergencies that come up - but haven't got much of my own money at risk (ie just that amount I keep in my credit union account).

Though - I do acknowledge it needs a secure income to be able to think like that (ie a secure source/s of pension for instance).

Looks like some lateral thinking needing doing generally for people though as to how to cope with financial emergencies and I don't know the answer to that one.

***********

Speaking of financial emergencies - and I was reading an article in The Guardian yesterday about the state of finances of NHS hospitals:eek:. To effect of for the last few years they've been starting to steadily "go into the red" and, by now, there's quite likely 99% of them "in the red" :eek:. I wonder how much difference it would make if we didn't have it being attacked from both ends - ie by fatcats on outrageous salaries running the NHS at one end and health tourism being allowed at the other end (ie we have a NATIONAL health service - not an INTERnational one).

ivyleaf

elona You must be feeling a bit pole-axed! But I hope all goes smoothly and that you're able to get the bungalow, or if not that one, something else just as suitable will come onto the market xx

mardatha

Reading the news this morning and just wondering where the hell things are going. On one side, Osbourne saying 4 Gov depts have agreed to 30% cuts - that is never going to be possible - then next item is about council and NHS chiefs on £ umpteen thousands per year who put in claims for bus tickets, then headlines saying the UK is a spent force internationally - well we don't manufacture anything and we don't even own our own utility companies and we have hardly any army and an aircraft carrier without any sodding planes lol . Just shows you how fast things can go to hell when you have eejits in charge.

elona

Thanks for the positive vibes re house move. I suppose really it is a form of prepping as the council tax will be two bands lower, near a bus stop and a few shops and I can have everything I need downstairs with a couple of bedrooms upstairs so family can stay over for get togethers. Should TSHTF big time we could even cram in there together. There is even a conservatory and a garage where I can still store stuff (DH used to helpfully use up the bottled water so I want to get some more once I move).

I plan to make up an emergency kit for dds with torch, tea lights, matches, lighter etc and a small solar lamp in case of power cuts.

Mardatha

I would say that you wonder whose side they are on - then realised that they are on their "own" side and the devil take the hindermost. :eek:


GQ

My mother was in Germany during the days of hyperinflation and I remember her telling me as a child how you needed a wheelbarrow of money to buy a loaf of bread!!! I thought she was exxagerating :eek: My small act of rebellion will be to get set up with some basic stores, gas hob, solar lamps, thermal cooker etc and no debt of any kind.

Frugalsod

GreyQueen wrote: »

Morning all.

I'm just coming to the end of a very interesting book called Paper Money Collapse; the folly of elastic money by Detlev S Schlichter.

Makes lots of interesting points about the consequences of an elastic money system, such as we've enjoyed since 1971, and the assets bubbles which are an inevitable conseqence of it. There is a reasoned argument that QE and state control of interest rates had been continiously postponing the inevitable bursting of the asset bubbles and making the eventual crash much steeper and harder than it would otherwise have been.

Re prepping, there's prepping to survive short-term crises such as lack of water, food, power. And there's prepping to survive and prosper longer-term. I deal with people who end up selling their belongings to subsidise themselves through long-term unemployment. Such as jewellery, and then some of the furniture, and then anything which isn't bolted down. Arguably, they might have been better to spend a bit of their money in good times on bullion coins rather than another lot of short-lived consumer goods, as these lie off the radar and are saleable in straightened times with no one in officialdom being any the wiser.

I believe there have been about twenty hyper-inflations, as defined by prices going up 50% or more in a month, one in the late 19th century, the rest in the twentieth and then possibly Argentina just into the 21st century. I have a 10 billion dollar Zimbabwean banknote and a 1923 200 mark piece made from flimsy aluminium about the weight of a shirt-button. Sort-of a mini black museum of dying fiat currencies up in the wall unit. Just need some notgeld and I'm good to go.

All fiat money dies a painful death eventually, but some beggars will be the ones left standing chairless when the music stops. And that's where everything you thought you had in terms of wealth evaporates.

The one thing that every speculator who comments about fiat currencies also forgets that the pound was on and off the gold standard a number of times. When it returned to the gold standard it was effectively devalued so the claim that gold standards are inherently better is a fallacy. So a gold standard which would make all these gold hoarders exceptionally rich which is their motivation for pushing this idea.

While currencies come and go there are other reasons rather than simple mismanagement. Revolutions are a great reason, why have the head of the previous regime on the notes?

At the end of the day most people cannot afford to deal in gold and so it will not be used by the general public anyway. How often would you need a £1000 coin for a purchase? What would you get your change in?

What the real problem is unregulated credit. If credit were limited to actual deposits and no credit expansion allowed it would end credit crises. Though excessive consumer debt would disappear as total credit would be limited and governments would rightly prioritise investment lending rather than speculative investments. Unfortunately the government will never regulate the banks effectively so we should expect another banking crisis and look out for the excuses why they never saw it coming. :mad: