The internet may be shut down Banks close doors

[Straight Shooter]

As Pete pointed out in another threat , keep some cash on hand ! ....if the internet go’s down cards will be of no use , for a while at least , the Banks would have to close their doors to prevent a run on cash withdrawals ....everything would come to a full stop ! No electronic transactions could take place .....so it would be very appropriate to hold cash just in case the worst happens .....what do you think of the possibility of this scenario taking place ?

[bigpaul]

I thought all us preppers did that?

[Pete Grey]

We would all like to keep a couple of thousand on the side for an emergency but I think as a rough guide, the minimum to keep would be a months shopping budget for the family. If you can keep some extra to cover something like a medical bill so much the better.

If the internet goes down as SS said cards stop working, the whole banking system collapses, supermarket tills stop working, so they can’t reorder anything, they only keep one days food anyway.

Your best bet is probably the local convenience store, thank goodness for our preps.

[Mortblanc]

.....what do you think of the possibility of this scenario taking place ?

Do you mean what do we think of the possibility of what has already happened taking place one more time?

Has it been that long since the entire southern Mediterranean tier of the EU had their economies shut for them and the banks closed, ATMs ran out of cash and withdrawals were highly restricted? It was not a one day thing, or over overnight, it took months to get sorted out, at the citizens expense.

All the while the northern tier of states sat back and laughed at them.

No one here remembers that? 2007-20015?

Oh, that was different, that was Spain, Greece, Portugal, Italy, second class economies.

The Pound is far to strong a currency to fall even down to the level of the Euro... or the dollar...such a thing is unimaginable...

Right?

Better find yourself a nice glass jar with a good lid, inside a zip lock bag, inside a Tuperware container for all of it.

Then you take your trusty shovel and burry it in the back garden under the light of a dark moon. Sit the bird bath on top of it so you can remember where you put it due to the failing memories that seem to abound.

[Straight Shooter]

A good fair reply MB ! Enjoyed reading it ! And the purpose of putting up the thread in the first place .....with digital credits (money) on the horizon , no glass jar , ziplock bag or Tupperware containers will be necessary ..... total control of ( money ) will be held with finger tips on a keyboard ....in essence we will all be F.cked .

[bigpaul]

if the internet goes down, banks close and cards are useless, cash will only be good for a short while, maybe a month maybe two, if it lasts any longer than that the stores will be emptied by the panicking masses and any amount of money will be useless as there will be nothing to buy. skills and knowledge will then be the only currency. welcome to the new "normal".

[Straight Shooter]

Yes I agree BP ......desperate people do desperate things in such a scenario I’m sure many will not believe how fast things will completely change for the worse .....the majority will be caught on the hop .....a most dangerous time no matter where you live .

[bigpaul]

the mortality rate in a country where the majority rely on 24 hour supermarkets and all electric housing will be very high and very fast.

[Skean Dhude]

I'm basing my strategy on that understanding. Keeping low and out of sight for several months using what I have stocked up until we can exit to plant and grow without having to spend 24/7 keeping guard as every person is starving and looking for food.

Hoping people have the courtesy of going home to die in bed.

[Mortblanc]

Oh there will be a need for cash! Do not discount that. No matter if your pay check is held up, you money seized, the banks closed, and your fortune crumbled, your bills are still going to arrive and they will still demand payment.

What bills you ask? After all, everything has collapsed has it not? Its the end of the world!

Never in the history of anywhere have taxes ceased!

In no case in modern history do I remember any government accepting tins of beans or an IOU in place of cash for payment of taxes.

They have a very efficient collection system. They send big blokes out in groups to collect the fees and they don't pay them unless they bring back your money!

From the Neolithic era local strong men have collected tribute for protecting their whimpish brethren. That is how the whole "government" thing happens. They preferred their pay in gold.

Coins came along soon after.

As soon as the Romans left GB back in 410ad the local council got together to figure out how to raise some money to hire some Saxon mercenaries to guard the shores. They finally paid them in land and we see how that worked out, a total gene replacement program. Better that they should have had some cash!

One of the grievances of the 13 colonies of North America in the late war was that the crown demanded silver or gold as payment of taxes and would not accept barter. The constant cash drain prevented the development of a market economy.

In spite of all the fairy tales, barter is a horrible way to conduct business.