Monday, Oct 27, 2008

"If you depend on paper money you can lose everything"

International Herald Tribune: In Europe, crisis revives old memories

"I haven't forgotten history," says Gert Heinz, a tax adviser in Munich. "If you depend on paper money you can lose everything. We've learned that the hard way after two world wars."
So when Chancellor Angela Merkel went on television recently to tell Germans that their bank accounts were safe, Heinz, who at 68 still remembers the rows of canned food that his mother hoarded in the attic, decided he would rather be safe than sorry.
He converted another chunk of his savings into gold and stocked up on a six-month supply of rice, sugar, flour and a special brand of milk powder that lasts for half a century.

Posted by sold out @ 03:47 PM (758 views) Add Comment

6 Comments

1. icarus said...

He'll have milk until he's 118 - so that's that little worry out of the way.

Monday, October 27, 2008 03:54PM Report Comment
 

2. mrmickey said...

I thought that after the war in Berlin people used fags & Whiskey as currency might be worth blowing your savings on these.

Monday, October 27, 2008 04:16PM Report Comment
 

3. mountain goat said...

Stocking up with some food for a few months is not a bad idea, makes you feel a bit safer at least. Personally I think the crisis is about money not the economy. What I mean is that we have not run out of oil, the world is still producing record amounts of food and we have not had a natural disaster to wipe out life as we know it. What we have is a lot of people in debt that are not going to pay back those debts. Life will go on once lenders and investors face up to how much money they have lost. Just going to be tough for everyone as they discover how much bad debt they have. So bracing for a bumpy ride is sensible but hopefully not entirely necessary.

Monday, October 27, 2008 04:20PM Report Comment
 

4. renting2 said...

Hoarding leads to rationing, spivs, gangsters and mob rule. Something for the city boys to move into then.

Monday, October 27, 2008 04:22PM Report Comment
 

5. mountain goat said...

Renting2 - "Hoarding leads to rationing, spivs, gangsters and mob rule."

why? please can you explain

Monday, October 27, 2008 04:40PM Report Comment
 

6. Tiggerthetiger said...

I dont think there will be long term shortages but short term will cause many problems.If a shipping company doesnt get paid they are not going to deliver are they.?

Monday, October 27, 2008 05:53PM Report Comment
 

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