Cash Stored For A Banking Collapse.

[nomorewars]

I've gradually took my money out of bank, stored quite a bit in trusted elsewhere, anyway I'm following Gerard celentes amount others, all most top economists been saying global financial collapse is very likely, fed cant keep printing money using QE. No one can doubt this world's in very serious trouble, in times of war will my cash go to waste in future? As in venuzuela, toilet paper basically, this morning I bought load of 10 oz silver brittania coins from royal mint paying £300 VAT on top tut tut, I've also 18 ounces gold coins tucked away, so if you were in my shoes would you hang onto physical cash, the FSCA will never reimburse me if banks go down and there's a collapse, where would they get the money lol... Are any of you prepared for a volitile future and what's your advise, plus CBDC to be implemented by 2026 in uk & EU by WEF tyrants... If that does happen and uk go full digital will governments/banks give people a period say 1 year to get all their cash spent or what would the likely scenario be ?  I'm worried I really am. 

[davebro3]

I'm just wondering if there is no functioning monetary system how you are going to go about bartering your precious metals & jewels for your life's essentials.

[newmodarmy]

TTT is spot on, on this. The FCSC guarantees would help customers if just one bank went bust, but if all or most of the financial system  collapsed and banks went bust we'd be in dire straits and the guarantees may be worthless

[davebro3]

A complete failure of the internet would probably be just as catastrophic.

[Peter Pedant]

FT today said the price of Gold has gone up

trouble is - - - it doesnt do anything, Gold just IS.

[Peter Pedant]

davebro - bit  coin probably

[New Judge]

When cash and CBDC goes belly-up, what are you going to do with the precious metals you have stored up?

[New Judge]

Sorry, davebro beat me to it.

[sandyRoe]

Yes, we can't eat gold or silver.

I think with smug satisfaction that my investment in toilet rolls was a wise move.

[ToraToraTora]

gold etc is the universal currency, we'd be going back thousands of years to when it was in effect currency.

[Peter Pedant]

1931 I think - churchill goes off Gold standard - dont let the facts interfere with any of this

[nomorewars]

?si=LdqNW6HibWjPhAjk

 

Only one of many speaking about it, hence my question about CBDC and cash.  I asked on finance section as I needed answer from someone who knows about finance, I don't but I'm trying to learn

[Old_Geezer]

The precious metals & jewels becomes the cash equivalent. One knows they will retain value when things are back to normal. But you can try to trade in snail shells if you like.

 

It's a good job the grown up T³ is the only non-ignorant bully around here. 

[DTCwordfan]

Reminds me of:

'It is a slow day in a little Greek Village.

The rain is beating down and the streets are deserted.

Times are tough, everybody is in debt, and everybody lives on credit.

On this particular day a rich German tourist is driving through the village,

He stops at the local hotel and lays a Euro 100 note on the desk, telling the hotel owner he wants to inspect the rooms upstairs in order to pick one to spend the night there.

The owner gives him some keys and, as soon as the visitor has walkedupstairs, the hotelier grabs the E100 note and runs next door to pay hisdebt to the butcher.

The butcher takes the E100 note and runs down the street to repay his debt to the pig farmer.

The pig farmer takes the E100 note and heads off to pay his bill at the supplier of feed and fuel.

The guy at the Farmers' Co-op takes the E100 note and runs to pay his drinks bill at the taverna.

The publican slips the money along to the local prostitute drinking at thebar, who has also been facing hard times and has had to offer him "services"on credit.

The hooker then rushes to the hotel and pays off her room bill to the hotel-owner with the E100 note.

The hotel proprietor then places the E100 note back on the counter so the rich traveller will not suspect anything.

At that moment the traveller comes down the stairs, picks up the Euro 100 note,states that the rooms are not satisfactory, pockets the money, and leaves town.

No one produced anything.

No one earned anything.

However, the whole village is now out of debt and looking to the future with a lot more optimism.

And that is how the Greeks will pay off their Eurozone debts.'

[davebro3]

https://www.bbc.co.uk/news/articles/cv2g5lvwkl2o