Cyprus bailout: Kremlin 'could punish Europe' in reprisal for bank levy [Prepper]

Guardian ^ | March 23, 2013 | Helena Smith in Nicosia, Simon Goodley and Toby Helm

[Vince Ferrer]

Fears are growing of Russian reprisals against European businesses as EU authorities desperately seek a deal to save the Cypriot economy by imposing a 25% levy on bank deposits of more than €100,000.

As the island scrambled to put together a rescue programme, its finance minister, Michalis Sarris, said "significant progress" had been made on the latest levy plan in talks with officials from the European Union, the European Central Bank and the International Monetary Fund.

[Vince Ferrer]

Retailers, facing cash-on-delivery demands from suppliers, warned stocks were running low. "At the moment, supplies will last another two or three days," said Adamos Hadijadamou, head of Cyprus's Association of Supermarkets. "We'll have a problem if this is not resolved by next week."

This is a good scenario to keep in mind for prepping. By closing the financial institutions, the economy is grinding to a halt, and things like food are increasingly unavailable at any price. So, food storage works in situations like this.

But beyond this, this is why having good old physical cash is actually better than having gold or silver. Using stockpiled gold is useless to pay for anything in a situation like this. What they need is cash, to keep paying their obligations and debts.

And while having physical cash usually isn't seen as an investment, because it is not earning interest, during a situation like this it can be used to buy assets that others must sell because they have no cash. Anyone with cash can get a steep discount for luxury goods, especially ones that others are still paying debts on. For anyone with their cash outside the banks in Cyprus, the country is like one big garage sale opening up.

[pepsionice]

German elections are in the fall. It’d be easy to dump fifty million in the midst of the German campaign with the Linke Party (far left) and the Alternative Party for Germany group. They could both take fifteen percent of the vote, and really screw up any type of coalition effort with Merkel.

[Gay State Conservative]

Vlad Putin knows that he has nothing to fear from an increasingly “flexible” Osama Obama.

[freedumb2003]

>>This is a good scenario to keep in mind for prepping. By closing the financial institutions, the economy is grinding to a halt, and things like food are increasingly unavailable at any price. So, food storage works in situations like this.<<

Yep — the more I look at Cypress the more I am convinced it could happen here (as said before).

Prepper Ping

[dennisw]

The back story here is the Russian mafia meaning Russian capitalists had loots of ill gotten gain stashed in Cyrus. Why?. Because their loot was held in Euros far from the Russian ruble which is OK but they like to hedge and diversify. I would do the same if I was in the millionaire category

[proxy_user]

So do you propose to have the US rescue the EU? I think they’re big boys now, and have to deal with Putin themselves.

[bunster]

...and we all await the Palm Sunday Miracle in Brussels

The Guardian is providing updates.

[silverleaf]

good old “physical cash”?

you mean, paper printed by the govt with a promise on it?
like Confederate dollars?

If shtf and I am selling land, a car, a furnace, drilling you a well, or anything .... I take gold or silver coins over a wheelbarrow full of paper notes that tomorrow you need two wheelbarrows full of cash to buy the same stuff

[Vince Ferrer]

If shtf and I am selling land, a car, a furnace, drilling you a well, or anything .... I take gold or silver coins over a wheelbarrow full of paper notes that tomorrow you need two wheelbarrows full of cash to buy the same stuff

And what about the times when you are buying, and no one wants gold, because they still have to buy things in cash?

[VRW Conspirator]

see tagline

[Kartographer]

Preppers’ PING!!

[Kartographer]

I like beans, bullets and pullets

[SunkenCiv]

Thanks Vince Ferrer.

• Flexibility achieved: As Promised, Obama pulls missile defense system from eastern Europe

[Marcella]

I just heard on Fox News an hour or so ago, that the next several hours would determine what would happen in Cyprus. I suppose that means some kind of meeting is going on right now to deal with this one way or another.

[Marcella]

“If shtf and I am selling land, a car, a furnace, drilling you a well, or anything .... I take gold or silver coins over a wheelbarrow full of paper notes that tomorrow you need two wheelbarrows full of cash to buy the same stuff”

If it’s bad and there is no food or anything else, you might sell those items for food or soap or in exchange for medical care, etc..

[blam]

... And Tonight's Meeting About Rescuing Cyprus Just Got Delayed Due To Lack Of Progress

[Marcella]

Maybe “delayed” means it will still happen today, just later today.

There is a discussion here whether to have gold or silver or cash. I would add barter goods people need and have a mixture of all those means to be able to purchase. I would have more silver than gold.

[TEXOKIE]

bfl

[blam]

"There is a discussion here whether to have gold or silver or cash. I would add barter goods people need and have a mixture of all those means to be able to purchase. I would have more silver than gold. "

I agree with you. I have a wide range of things...

[Ellendra]

Along with knowledge and a few skills. Those can be bartered with, too.