Suspension of Payments
THE PRESS May 31, 2012
On 31 May 2012, the Special Commissioners of Bank Network Investments SpA in Extraordinary Administration (MI), with the approval of the Supervisory Committee and with the approval of the Bank of Italy, have decided to suspend the payment of liabilities of any kind, pursuant to art. 74 of Leg. September 1, 1993. 385 (TUB), for the period of one month. The suspension does not include client financial instruments.
The measure was necessary to face the difficult situation of the bank.
Organs extraordinary Bank Network Investments SpA, an intermediary member of the Interbank Deposit Protection Fund, are developing a plan for solving the crisis in order to safeguard clients' rights, provides for the intervention of Consultinvest SIM Group and Bank Savings of Ravenna.
http://www.bancanetwork.it/content/sospensione-dei-pagamenti
Time to keep the quarter jar full!
Preppers’ PING!
Can you prove that any of your prepping will make you and yours better off that the non-preppers? I’m envisioning a scenario like Zimbabwe. I’d suspect that at least some white farmers had plans for shtf. Mr. Mugabe and his hit mobs made short work of them. Here’s hoping you fare better than they did.
what are hard assets?
I think if the SHTF quick trading commodities will be things like bar anti-bacterial soap, bleach, antiseptics, chlorine, toiletries, water carriers, candles, propane.
Are those what are considered hard assets?
My grandparents didn’t use much cash. Grew all their own eats and we all pretty much learned that you grew enough to last till next growing season. A little cash goes a long way in that case. Self sufficiency skills can be traded for the few necessities that can’t be locally grown.
Solar battery chargers are relatively cheap. A bank of 12v batteries for light and an inverter for small tools that is kept charged by a solar charger would give light and light appliance availability. Also there are solar chargers for flashlight and other small batteries. Wind turbines are easily built to generate electricity as well.
― Thomas Jefferson
Doubters and preppers will each get a chance to see if they chose the best path.
It is the philosophy of self reliance versus the belief that we cannot cannot affect our own destiny - and anyway, the government will take care of us.
If there is no SHTF scenario neither is negatively affected and the prepper has a nice stock of consumables on hand, purchased before market prices jumped after the most recent rounds of inflation.
If there is a SHTF scenario the prepper has a nice stock of consumables on hand.
The Doubter has the government.
If one can make an argument for not prepping, one could also use the same logic to argue against any other form of insurance we purchase.
"Says SocGen's Galy: "It all feels very early 1980s when police would stop folks carrying suitcases of cash into Switzerland."
If you don’t prepare, then prepare for your new domicile in the “FEMA” (it’s for your own good, we’re just trying to help, we’re making the best out of a bad situation, bend over and grab your ankles, etc.) Camps!
