MONEY

[Tarrel]

IMHO, if you wait for a pre-sign, it's probably too late. But, I'd be looking for (in the next few months):
- Failure of congress to agree a new budget deficit ceiling
- decision not to grant Greece it's next bailout tranch
- Formal bailout request by Spain
- Oil supply interruption (e.g blockade of Straits of Hormuz)

Probably best to prepare by keeping a decent stash of cash somewhere, spread bank deposits across several banks and make use of the smaller / independent ones (e.g the Co-op, and some of the Mutuals), and buy gold/silver coins.

A Devaluation of the currency in itself wouldn't necessarily be a threat to your savings unless you wanted to use them for buying gold or use abroad. Imported goods such as oil would shoot up in price, but this would affect you whether your pounds were in the bank or in your hand.

Inflation is a bigger threat to savings, again whether held in the bank or under the mattress, gradually eroding your pounds' spending power. Gold or silver are the hedge against devaluation and inflation. If the pound is devalued, the price of gold (in pounds) will automatically go up, even if it stays the same against other currencies. Therefore the gold you hold will be worth more.

That's my tuppence worth (or should that be £3.50 worth).