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

anglox_b

anglox_b

Member
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
 
I believe a lot of the answers to your questions are conditional to how long this lockdown/slowdown lasts. Can the world last another month of this without runs on the banks? Given the amount of free money pledged by the govs, yes - probably much longer. If there is another black swan event which causes civil unrest and panic then all bets are off.
Personally, I am in a holding pattern and this is the right place to monitor. Be poised for your preferred escape plan but be cautious of going 'all in' and potentially suffering at the other side. The silver stackers are definitely ahead of the herd, but in these times it's days, not months or years anymore.
 
I would go the gold for a number of reasons:
1. EUR sitting in a bank will depreciate whether or not there are imminent QE/liquidity that erodes their purchasing power.
2. Gold is the most liquid asset in the world, takes 5 mins to buy and you can always get spot for it when you sell.
3. Your timeline is unsure, meaning you and your project could be in lockdown for weeks or years. No matter how long it will end up being, you must protect your wealth. You only need to take a glance at what the Fed, RBA, RBNZ, ECB and BOJ are doing now to know that you can't hold currency in times like this. (bailing out every business, debtor and mortgagee in their jurisdiction, and anybody else with their hand out.)
I wish I had an escape pod in the country. Just shoot roos for food and get some peace and quiet.
God bless
 
heartastack said:
Be poised for your preferred escape plan but be cautious of going 'all in' and potentially suffering at the other side. The silver stackers are definitely ahead of the herd, but in these times it's days, not months or years anymore.
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Or they might end up behind the herd.
There is no evidence at the moment that silver is going to recover any time soon, the opposite in fact.
Gold stackers and those in USD cash seem to be ahead of the herd at the moment. Crypto seems like it's usual yo-yo self.
There is no doubt we'll keep seeing massive sell off's of stocks and other things to get cash, investment property is next, smart people will be wanting to divest themselves of debt as quickly as possible.
No doubt you should have a balance of physical cash and gold at this point.
But remember that physical cash will be no good to you if you are stuck at home and can't go out. There is going to be an explosion in at-home deliveries of almost everything.
 
SilverDJ said:
Or they might end up behind the herd.
There is no evidence at the moment that silver is going to recover any time soon, the opposite in fact.
Gold stackers and those in USD cash seem to be ahead of the herd at the moment. Crypto seems like it's usual yo-yo self.
There is no doubt we'll keep seeing massive sell off's of stocks and other things to get cash, investment property is next, smart people will be wanting to divest themselves of debt as quickly as possible.
No doubt you should have a balance of physical cash and gold at this point.
But remember that physical cash will be no good to you if you are stuck at home and can't go out. There is going to be an explosion in at-home deliveries of almost everything.
Click to expand...

By SS I meant this forum and the topics/discussions here in general. There is enough info here to make informed decisions and stay ahead. It's those kinds of discussions that take place here that I find valuable. I see why that looked like I meant stacking silver was the winning strategy. No, I'm with you on that one.
 
SilverDJ said:
Or they might end up behind the herd.
There is no evidence at the moment that silver is going to recover any time soon, the opposite in fact.
Gold stackers and those in USD cash seem to be ahead of the herd at the moment. Crypto seems like it's usual yo-yo self.
There is no doubt we'll keep seeing massive sell off's of stocks and other things to get cash, investment property is next, smart people will be wanting to divest themselves of debt as quickly as possible.
No doubt you should have a balance of physical cash and gold at this point.
But remember that physical cash will be no good to you if you are stuck at home and can't go out. There is going to be an explosion in at-home deliveries of almost everything.
Click to expand...
Who will be delivering them if we are all stuck at home? I have 0 in all my accounts. It's cash and gold for me baby
 
Is this the big one? Hey that’s what my missus asked when we first got together and just like silver it went down and now it is a battle to convince her that it is going to rise.
She has come to realise that she has invested long term. No quick gains.
 
Thanks everyone, lots to think over. Part of the freak out is the lack of inventory here in the uk. My usual dealer is taking price-fixed orders, but due to interruption of the supply chain, acknowledges that it may be many months before bullion is delivered to customers. Obviously I can't sell what i don't hold. Rightly or wrongly my gut says to wait for the moment. We'll see.
 
So whatever happened to Q? Another one of trumptys fairly tales?

All the Q pumpers are quiet now haha. The sheep have left the building?
 
JohnnyBravo300 said:
Ok back to armageddon. 340 dead in america now, wed better shut down the entire world.
I dont know if the human race can survive this at this kind of death rate.
Twenty veterans kill themselves every single day. No one says a word.
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You need the panic to make Americans move their butts, and hospitals to prepare themselves and for nurses and doctors to stop treating the virus as a joke or just another form of flu - it is clearly more dangerous than flu. I also panicked in late Jan and early Feb because I had to find masks and supplies. After that, people just get used to it, and it becomes a "meh". Trust me, the big hoo-ha over the virus will be over by May.

However, I think the lock down is necessary to create that sense of "urgency", to stop the virus from spreading and allow the healthcare system to prepare itself.
 
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Everyone says its worse than the flu but we havent seen that.
Children are less affected by the covid while the seasonal flu killed almost 150 kids last year.
The next flu season is 6 months away and we wont be back to work yet and still fighting this. Then what.
 
JohnnyBravo300 said:
Everyone says its worse than the flu but we havent seen that.
Children are less affected by the covid while the seasonal flu killed almost 150 kids last year.
The next flu season is 6 months away and we wont be back to work yet and still fighting this. Then what.
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They say it's about 10 times deadlier than flu and that's when healthcare isn't overwhelmed. Probably because they haven't found a medicine. If Chloroquine can work, it will probably make it less deadly. Chloroquine is very cheap.
 
JohnnyBravo300 said:
14573 dead worldwide now so it just passed how many humans are killed by freshwater snails each year.
Dog attacks kill 25 to 35k
Snakes kill about 100,000 humans worldwide.
Mosquito bites....1 million deaths.

Crazy numbers when it comes to a worlds population!
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Was it last week that Russia reported its first death? Interesting how Russia is right next to China...
 
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