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CrashedOutAndBurned

What To Do With That 'deposit Money'?

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Okay, I've never lived through a depression. I don't know if this is depression territory. All I know is the world, not just on monetary terms, seems massively out of kilter and likely to descend into some form of chaos (of what form I don't know).

I have a reasonable amount of dosh in plain old cash - cash ISAs and savings accounts in bog-standard high street banks and building societies. It's quite spread around.

Should I get it out? Stick it all in the goldmoney account? Buy coins? Tins of beans? AK47s?

Will cash be king or cash be trash?

What would you do?

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Okay, I've never lived through a depression. I don't know if this is depression territory. All I know is the world, not just on monetary terms, seems massively out of kilter and likely to descend into some form of chaos (of what form I don't know).

I have a reasonable amount of dosh in plain old cash - cash ISAs and savings accounts in bog-standard high street banks and building societies. It's quite spread around.

Should I get it out? Stick it all in the goldmoney account? Buy coins? Tins of beans? AK47s?

Will cash be king or cash be trash?

What would you do?

Buy Land, and grow your own. ;)

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Guest Daddy Bear
The way i see it banks will refuse to give people money at 1st.

Which are the safest banks in the UK? Credit ratings of AAA may not be that believable.

Could there really be a run on the banks in the UK ??

DB

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Guest happy?
Beans AND clean underwear.

WHY?

People are going to need them after kacking their pants [and after all those beans]

Forget beans buy Zimbabwe Dollars - all the way

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By a bicycle ?

Does anyone know a good commuter bicycle? (looking at specialized sirrus)

Already got one [a bike]- buy a good D-lock, no maybe two [one for the wheels]

Edited by notanewmember

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Okay, I've never lived through a depression. I don't know if this is depression territory. All I know is the world, not just on monetary terms, seems massively out of kilter and likely to descend into some form of chaos (of what form I don't know).

I have a reasonable amount of dosh in plain old cash - cash ISAs and savings accounts in bog-standard high street banks and building societies. It's quite spread around.

Should I get it out? Stick it all in the goldmoney account? Buy coins? Tins of beans? AK47s?

Will cash be king or cash be trash?

What would you do?

If you do go for an AK make sure you've got plenty of ammo and magazines ;)

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I just don't see it, there is no chance of a 1929 re-run. (as in bank runs)

why - if things got that bad it would be easy and appropriate for the BOE ect to fund xxx bank with sufficient funds to cover deposits. yes this would lead to inflation, but everyone would be in the same boat (ie your 10k under the bed would be no more valuable than my 10k in the bank).

those who put there money into more risky funds (and knew the risk)...... well you win some you lose some.

i do have a bit of cash and some gold in reach, but i don't think i'll need it.

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COAB,

Sorry to hijack this thread but are you really a bull now or is that sarcasm on your part?

I'm still in Watford (don't know if you are) and would be interested to know if you're really bullish.

Richard

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If you do go for an AK make sure you've got plenty of ammo and magazines ;)

Yes try to get a romanian model too, the one with the forward pistol grip. Makes it much easier to control on full auto. Particularly useful when using it for crowd control purposes. :ph34r::ph34r::ph34r:

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indeed - so we inflate all the debt away, as well as savings, and start with a clean slate. Confidence in the western economies lies in tatters and growth is slow for a while. Oh, and as a minor aside, houses will be 2.5x income, thru money-inflation or a combo with outright falls . But no-one will be buying because they'll be too risk-averse....

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Which are the safest banks in the UK? Credit ratings of AAA may not be that believable.

Could there really be a run on the banks in the UK ??

DB

although not strictly a bank NSANDI would be a safer place to put your money for now

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COAB,

Sorry to hijack this thread but are you really a bull now or is that sarcasm on your part?

I'm still in Watford (don't know if you are) and would be interested to know if you're really bullish.

Richard

Yes. I'm a bull even though I still argue for the crash. That way I can't be wrong when prices zoom ever upwards like they have in brutal fashion during 2007. I mean, we live in the tiniest rented house where you can almost touch both walls with your hands and places like this are now on the marked for £225k. Could've bought a nicer one for 169k four years ago and thought:

'But it's just a tiny grotty hovel that would have been 60k in 1999! What, is this going to be 200k in a year or two? Ha ha! Gotta be a crash coming bigtime'...

Oh dear...

What's more, my street is rapidly becoming mostly HMOs with the usual piles of random tat outside so prices have been zooming up while the area gets grottier.

Put a toxic waste dump in the back garden and even that wouldn't stop the rises so it seems...

On a positive note, there's some houses that have been around a few month but seeing these are on for 260k, when similar stuff could have been had in january for 210k, who really cares?

Edited by CrashedOutAndBurned

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All I know is the world, not just on monetary terms, seems massively out of kilter and likely to descend into some form of chaos (of what form I don't know).

I constantly used to feel like this 15-18 years ago & nothing much happened in terms of real chaos.

There was a pretty naff recession of course, but there will always be recessions.

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I got my savings in Icesave (Iceland) and ICICI Bank (India) plus my ISA allowance in Alliance & Leicester.

I was mega freaked out today to see that S&P's credit credit raing for ICICI is appalling at BBB- !!

http://www.icicibank.com/pfsuser/aboutus/i...editratings.htm

This was probably the rating before the stock market banking turmoil etc.. Does anyone know what ICICI's exposure to the US sub-prime market is? Should I get my cash out PRONTO you reckon? :blink:

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Yes try to get a romanian model too, the one with the forward pistol grip. Makes it much easier to control on full auto. Particularly useful when using it for crowd control purposes. :ph34r::ph34r::ph34r:

Pah!

Full auto using an AK. Good luck trying to hit that barn door.

Better off throwing rocks.

What you want is a nice .223 with bipod and mil-dot scope. Enough energy in a round to drop someone in one shot at 500m . Flat trajectory to 400m so no need to bother with too much elevation. Ammo light enough to carry 500 rounds without breaking into a sweat.

Tin foil hat using Alcan (more durable)

Oh, and lots of ammo.

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