BANK RUNS

[bigpaul]

get a power cut and no bank transactions will be possible either in or out.
even paying at the supermarket till with a card will be impossible if the power is out.
anyone who reckons technology is the "bees knees" hasnt thought about power cuts.

[Joe]

CBDC is your friend ?

[Straight Shooter]

Joe , you pulling my pisser ? Lol .

[bigpaul]

I dont like anything digital and that includes money.

[iaaems]

It has to be said that I grew up in the 'Electro-Mechanical Age' and I found that easier to understand than what exists nowadays. But I have to try and deal with it - and so far so good. So far the cash side of life has worked - I just hope that I will have the wherewithall to provide myself with the necessary back ups when and if the power gets turned off or the 'crash' happens. Watch this space - provided that it still works!!

[bigpaul]

I grew up in a time before supermarkets and decades before mobile phones and laptops.
a much simpler time and one which will return when TSHTF.

[Straight Shooter]

I am hearing billions of dollars are being removed from several U.S. banks , sounds like bank runs to me , confidence is low ….what are you hearing MB ? Any truth in it ?.

If it is true , I am wondering when ? It will Travel to our shores ? If it has not already done so ? These are very dangerous and uncertain times …….more food preps ? .

[Mortblanc]

There are billions being withdrawn SS, but it is not the standard "bank run" one would think.

Inflation has been so low for so long over here that interest rates have been less than zero! Money in the standard "bank account" draws %0.3 annually. That was about as good as it got so people were leaving their money in the accounts just because they knew it was "safe", guarenteed and whatnot.

With the latest boost in the FED allowed interest levels people are pulling money from their dormant accounts and investing it in money market and higher yield savings plans that are still safe but paying 4%-5% compounded daily.

The huge sums you are hearing are not desperation, fear of loss type panic runs, but they do show as massive withdrawals from the firms' books and look very bad if one does not keep the overall picture in perspective.

[CharlesHarris]

While I like to keep a month or so worth of cash for normal expenses, cash held long ter is losing value, so I don't obsess about it. Instead, when I shop, I buy extra of what is on sale, so the freezer and the pantry are well stocked and I accumulate a supply of batteries, light bulbs, bog roll, etc. Nothing fancy,

Plan is not to run out of cat food, bog roll, biscuits. bullets or booze.

[Mortblanc]

I already have all the preps the house will hold.

My next move is having a new kitchen installed, new washer and dryer, and upgrading the deep freeze to a larger model.

I am considering pouring a concrete slab and building a new shed to hold the freezers.