Is this the big one? ( ie how imminent is imminent?- Advice needed)

Bank run has already started.
Soon, I'd anticipate withdrawal limits.
I wouldn't worry about the exchange rate loss, I'd get the cash.
If there's a loss, so be it; if it worries you, pretend you just went on a cruise holiday.
The most important think to remember is that we do not know what the politicians have in-store for us.
Remember Greece? Over 100, 000 grand in the bank; the government stole it. (Something like that, I can't remember the details)
This is bird in the hand time (cash) you can get folk to do things for cash. Secure the property the best you can, if you can't get it to lock-up stage, you'll need to improvise even if it costs money.
Cash and physical metal "now" is the ticket. If things come good, great, if they don't, you'll need cash.
 
Holdfast said:
Bank run has already started.
Soon, I'd anticipate withdrawal limits.
I wouldn't worry about the exchange rate loss, I'd get the cash.
If there's a loss, so be it; if it worries you, pretend you just went on a cruise holiday.
The most important think to remember is that we do not know what the politicians have in-store for us.
Remember Greece? Over 100, 000 grand in the bank; the government stole it. (Something like that, I can't remember the details)
This is bird in the hand time (cash) you can get folk to do things for cash. Secure the property the best you can, if you can't get it to lock-up stage, you'll need to improvise even if it costs money.
Cash and physical metal "now" is the ticket. If things come good, great, if they don't, you'll need cash.
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Bank run in Australia? Insane...
 
Yes, interesting how some folk say we don't need cash.
So their electronic funds are frozen until the bank or government decides otherwise.
If someone wants to buy a Cos Lettuce from me they can pay cash or preferably a threepence or sixpence. :) I'm not taking credit cards or eftpos.
 
Chloroquine is being rationed in NZ at the moment.
My wife managed to order 3 bottles today with expected arrival in 3 days , but if that happens or not is the key.
Ill report back and tell you if the order was completed.
 
sterling-nz said:
Chloroquine is being rationed in NZ at the moment.
My wife managed to order 3 bottles today with expected arrival in 3 days , but if that happens or not is the key.
Ill report back and tell you if the order was completed.
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Where did you place your order? Online?
 
sterling-nz said:
Chloroquine is being rationed in NZ at the moment.
My wife managed to order 3 bottles today with expected arrival in 3 days , but if that happens or not is the key.
Ill report back and tell you if the order was completed.
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I'm just rushing out to stock up on some now. Ummm, quick question : what's chloroquine?:D
 
Just looked it up. Interesting... I ordered something similar in the mail, but I think it got stolen on the way.
 
Jason1 said:
yer great lets promote that and create a shortage on Chloroquine also. great idea another one for the hoarders to have while every one else suffers.
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Actually, this was what happened in Singapore late January when people went searching for masks and the government told the people not to do this because this will create a shortage for the institutions.

The people didn't bothered, and went to source for masks. Most of the N95 stock and surgical masks sold in pharmacy for $5 a box of 50 had been bought up by PRCs in bulk to send to China. Apparently, the Chinese already knew what they were facing even in mid-January and had coordinated to buy up all the masks they can find to send back to China.

On the 23rd of January, I was running around visiting 5 pharmacies in my neigbhourhood looking for them and could not find any. I was able to buy hand sanitiser at that time. So people went to the internet to look for them and the people in Singapore were able to import sufficient masks from Indonesia and Vietnam and India before these countries banned the export of masks. Before that happened, the mask manufacturers in Indonesia and Vietnam ramped up their production of masks to meet the demand. The price of good quality masks went from $6 per box of 50 to $35 or higher.

This is how capitalism works. If there's demand, businesses will make the masks, increase their production to meet demand.
 
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Krakked789 said:
Yet it's OK for us here to hoard gold and silver...

:D
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if the drug turns out tobe actually effective to save lives and some one has enough meds sitting in the cupboard they dont need because they arent sick so is going to waste but could save half a dozan lives if it was available, then yer I think hoarding silver and gold is likely less harmful for the lives of others compared to hoarding medications.

If it turns out it is completely ineffective and people are hoarding something completely useless while those people who actually need it cant get their meds for its intended use are sitting around in pain for no reason.

the Jury is still out and its not fully proven this med even works
 
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Jason1 said:
if the drug turns out tobe actually effective to save lives and some one has enough meds sitting in the cupboard they dont need because they arent sick so is going to waste but could save half a dozan lives if it was available, then yer I think hoarding silver and gold is likely less harmful for the lives of others compared to hoarding medications.

If it turns out it is completely ineffective and people are hoarding something completely useless while those people who actually need it cant get their meds for its intended use are sitting around in pain for no reason.

the Jury is still out and its not fully proven this med even works
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Some family in the future may not have the silver or gold that they need to feed themselves...
 
Jason1 said:
gee, that sounds like an expensive diet likely not good for your teeth either lol
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LOL, what's that quote about the fish, bread, etc. being depleted and not being able to eat money? In limited doses aren't they purported to have health properties?
 
anglox_b said:
Really could use some input as my head feels like it's going to break from overthinking. Back in 08 I bought physical PMs which I still hold and have not touched. I have also been building an escape pod in a eurozone country, which unfortunately has taken a lot longer to complete than I would have liked. Now due to quarantine, building has been shut down for the next two weeks ( most likely to be extended to probably two months from what i can see) meaning I am now left with a quantity of euros sitting in an account, which I had hoped to have gotten rid of by now. I am aware that I need to remain liquid in case building resumes, but am also painfully aware that the markets could fall over before lockdown is even lifted. Consequently am unsure what to do- whether to pull and hold physical cash ( and lose out on exchanging euros back into stirling), buy more Gold ( assuming I can get it) to be converted back to euros when building finally resumes - and possibly risking possible deflation in the current climate; or to wait and leave my money in my euro account and possibly lose everything in the worst case scenario. All choices are not without risk. Would really appreciate any constructive advice and or opinions. How unstable is the system? Is a bank run likely in the interim? What would you do? Thanks in advance for any tips, advice.
Regards

A-B
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If it helps at all, I think you did well.
One various occasions on SS I've supported the idea of keeping some physical cash in coins (with maximum copper content) rather than notes, since in a SHTF scenario the metal knick-knacks could be useful for trading.
If I had to move cash to another asset class, I'd be considering government bonds in the countries that are handling the pandemic the best, but for the meantime I'm just buying the dip.
 
I not too worried about other currencies, as I sadly believe the US population , its economy , and hence the USD will get absolutely smashed by this. Proportionately more than other countries.

Edit : Of course, massive, over the top fiscal and monetary stimulus could change everything. If so, the bubble of all bubbles coming :), which will simply delay the same outcome. IMHO.
 
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