the majority of us are in the cypress trap

[craig12]

after thinking long and hard about this subject, ive come to the conclusion that the government will win in a shtf scenario  and theres little we can do about it  and its very unlikely  that we can alter the outcome

 

the saying goes , have no cash in the bank exept for bills, easier said than done,  have a balanced portfolio  stocks, precious metals,

 

take me for example  I have a mortgage , an isa , and a business account,  its human nature to save if interest rates are decent ,  my business account needs  a good  30k as a balance to operate  to keep afloat, now im sure were not brave enough to liquidate all our savings into  gold and silver  and have no savings in fiat    as people believe  fiat is needed if you hit a sticky patch with the mortgage , so it is my belief  that the cypress  scenario could be something no one can escape in this country  , and im basing this on  someone who had say £70000 in an isa  , im sure that person wouldn't buy  £70000 worth of gold and silver  and clear out the account,

so if you have a current account  a isa whatever  and you haven't emptied the accounts then  were in the cypress trap  unless we liquidate all savings

 

[Danny-boy]

Agreed, it is very difficult to keep out of banks. But we do have the banking protection guarantee, how much use that would be in a SHTF scenario is anybody's guess!!!

And just to be a pedant.

cypress.....

Cyprus.....

[craig12]

I heard all that could mean is that you get £87000 guarantee  but this could be in the form of an iou in future , or bonds etc

[morezone]

In a SHTF situation, of course the government will win.  If we end up in the situation then anything that isn't in our physical possession is up for grabs.

But SHTF scenario is worst case.  If we get some bumps here and there, your saving will be safe (assuming you haven't put all your eggs in one basket).

[Kman]

Cypress is a concern, also look what's happened in Grease 

[craig12]

well spotted my fellow lannduner

[Keithoil]

Yes Agreed, but don't forget to stash loo rolls, tooth paste, dried food, etc.

 

You just never know if and when you will need it all.

[klacey]

Im afraid the government will always win, its just set up that way. Once again the small people will get screwed over. Its up to you to be as ready as you can and hope you can come out on top once the smoke clears. Atleast we keep check of it, so many are completely clueless and will get hit the hardest.

[Fluttershy]

I emptied my ISA and bought PMs with it, and so far I`m getting a much better return

 

 

Yes Agreed, but don't forget to stash loo rolls, tooth paste, dried food, etc.

 

You just never know if and when you will need it all.

 

and cigarettes and coffee (I don`t smoke myself and only drink decaf) but these are also currency in shtf scenarios.

[garthy]

I was thinking the other day how crazy it is that all our money in the banks is electronically stored, all our hard graft over years and years is just made up of numbers on a screen, numbers that they control, numbers they can hold back or take whenever they see fit, to me it's crazy just how much trust we put in these people that have shown time and time again they definitely are not to be trusted.  

 

Now look at gold, money with a 5 thousand year track record with absolutely no counterparty risk, a store of wealth that only you know about and if hidden properly no one can touch, as far as I'm concerned people with money must be off their heads not to own gold, it's beautiful and is the ultimate protection, I'm pleased I found it and understand it because so many people don't.

 

silver too   

[SilverPirate]

I have stacked some cash and i like the look of it in with the metals,it makes me feel more secure if the cash point go's down and i need the ready's.

The cash has come from gardening jobs so it has not affected my finances.Having cash for a rainy day is a sensible option i think,in the past i would not of dreamed of keeping some but the interest rates are so bad unless i bury it in some account for years £500 will not earn me much.

[FTYBR]

Hard to escape money in banks, especially when most of us get paid into a banks, transfer currency through banks, have to pay bills, standing orders/DD's through banks, have debt/mortgages with banks.. inbloodyescapable!

The compensation scheme is a sham in all honesty. Dubbed the insurance of last resort for depositors, it has a funding cap of £4.03bn compared to total deposits of about £1,000bn - so wouldn't even be able to bail out 1 bank, let alone the whole banking industry. Bail ins will be the first warning. I'll probably get all cash funds out at this point. If a bank fails and obviously FSCS fails (inevitable), as some others have pointed out, government will compensate losers with govt debt (gilts) and some other worthless sh!t

Until then... Everything is awesome!!...