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

Discussion in 'Markets & Economies' started by anglox_b, Mar 19, 2020.

  1. Holdfast

    Holdfast Well-Known Member Silver Stacker

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    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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  2. Krakked789

    Krakked789 Well-Known Member

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    Bank run in Australia? Insane...
     
  3. Krakked789

    Krakked789 Well-Known Member

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    Yes, I'm tending to think that this is the big one...

    This is quickly spiralling out of control.
     
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  4. Holdfast

    Holdfast Well-Known Member Silver Stacker

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    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.
     
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  5. sterling-nz

    sterling-nz Well-Known Member

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    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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  6. JulieW

    JulieW Well-Known Member Silver Stacker

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    Where did you place your order? Online?
     
  7. Krakked789

    Krakked789 Well-Known Member

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    I'm just rushing out to stock up on some now. Ummm, quick question : what's chloroquine?:D
     
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  8. Krakked789

    Krakked789 Well-Known Member

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    Just looked it up. Interesting... I ordered something similar in the mail, but I think it got stolen on the way.
     
  9. Jason1

    Jason1 Well-Known Member

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    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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  10. JohnnyBravo300

    JohnnyBravo300 Well-Known Member

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    We are up to 5 cases here. The 4 horsemen of the apocalypse has arrived! Almost!
    Stay skeered little sheep!
     
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  11. sgbuyer

    sgbuyer Well-Known Member Silver Stacker

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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.
     
    Last edited: Mar 23, 2020
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  12. Krakked789

    Krakked789 Well-Known Member

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    Yet it's OK for us here to hoard gold and silver...

    :D
     
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  13. Jason1

    Jason1 Well-Known Member

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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
     
    Last edited: Mar 23, 2020
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  14. Krakked789

    Krakked789 Well-Known Member

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    Some family in the future may not have the silver or gold that they need to feed themselves...
     
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  15. Jason1

    Jason1 Well-Known Member

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    gee, that sounds like an expensive diet likely not good for your teeth either lol
     
  16. pmbug

    pmbug Active Member

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  17. Krakked789

    Krakked789 Well-Known Member

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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?
     
  18. jnkmbx

    jnkmbx Well-Known Member

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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.
     
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  19. dragafem

    dragafem Well-Known Member Silver Stacker

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    If the euro goes do you think the aussie dollar will still be around?
     
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  20. Silver260

    Silver260 Well-Known Member Silver Stacker

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    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.
     
    Last edited: Mar 24, 2020
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