[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

[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

[Kartographer]

Preppers’ PING!!

[TEXOKIE]

bfl

[BfloGuy]

this is why having good old physical cash is actually better than having gold or silver

Cyprus is not like the U.S.. When the end comes there, the Euro will still exist and, you're right, a stash of Euros will be valuable.

But if the collapse comes to America, a wad of dollars will be worthless.