Hoarding for Economic Collapse?

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Hoarding for Economic Collapse?

With the world's economy like it is currently, do you have a plan in place in case of economic collapse? (I can't remember answering a thread about this before... if there is one and I responded, I'm sorry for repeating!)

Specifically this would include things like money not tied up in the banking system, food storage, etc. Scary topic, I know, but I've seen people who used to scoff at the idea starting to make some plans of their own within the last 6 months or so.

Bottom line, is some of the money you're saving by being frugal being set aside to prepare for a possible "change" in the financial atmosphere?

I've seen people on Youtube canning and and hoarding food for the economic collapse.
I guess I understand why they're doing it, but I can only concentrate on one thing at a time and right now I'm focused with all my heart, all my energy and all my money on moving into a better apartment with my daughter.

I'll have to worry about a change in the financial atmosphere later, right now I need to worry about my apartment being too small and having a leaky roof.

I hope you'll soon be able to find that better apartment, ACSAPA! Yeah, I've seen a lot about the food hoarding, too. If any of it grows into a larger concern for me than it is now, I'd be much more concerned about the savings in bank accounts.

Maybe I watch too much news, but some really bad things are happening with banks in various places you wouldn't expect a problem. That's the scary part for me... all this scrimping and saving would mean nothing if banks become unstable.

If things keep trending in that direction, people might start hoarding gold.
I've heard that gold is the only thing that keeps its value.
It's scary that banks, which we trust to be these rock-solid institutions, are having problems.

Anyway, I do have a small food stockpile, but that's not about the economic collapse, it's about being ready for when I do a No Spend Month.

I've seen some people keeping stocks and that's fine and dandy you know, you never know if something terrible like an earthquake or a tornado will roll through town and mess up life. But people that like pull their kids out of school, mess up their childrens futures because they think of the end times, disgusts me. Be realistic. Economic collapse, maybe but if that was the case, I'd just turn to gold or bitcoins.

Well, the survivalists have been in the mountains for years with their food, water, bullets and guns, waiting for the coming whatever. If it all does collapse, money won't mean much, gold is kind of cumbersome to use, so some food and water might be the best thing to have. I could ne gone tomorrow, so I am not hoarding. The atmosphere is now 400% carbon dioxide, that is tough for humans, so there is more to worry about than financial collapse. We may not be able to breathe in a little while.
The air has been so terribly polluted.

I remember an episode of Wife Swap where the family was so worried about the end times that they had a countdown calendar to the end of the world. Their kids had to look at that calendar every day So their kids constantly had to worry about the end times and death.
That seems like child abuse to me.
Plus they bought all their furniture and their TV on credit because they believed that by the time they had to pay Rent A Center, everyone would be dead.
It's disgusting to live that way and mess up your kids. Kids shouldn't have to worry about the end of the world.

I agree, Lokitns... people can sure get fanatical. My original question was about whether anyone feels a need to keep any of their hard earned/ hard saved money in venues other than banks that may or may not be stable so that it would be obtainable.

I agree that gold seems to be the way to go, although that's been falling, too.

I'm not a paranoid survivalist or anything, but the idea of self-sufficiency has intrigued me before. The problem with gold in my mind is that if stuff really hits the fan, it will be worthless too. You can't eat it and you can't make it into anything useful.

Even the most extreme food storage would only last you a few months, so if it were an ongoing problem, skills like farming and hunting would be the most valuable thing to have.

From the financial aspect of things, most of my money is invested. Economic collapse would make it worth less, but as long as the companies were still around they would probably be worth something. If the collapse were big enough that companies like Proctor and Gamble were worthless, I've probably got bigger problems than keeping my money.

I wouldn't worry about it. Keep a few things but not a lot.

I don't do this. I'd rather live a normal life than to prepare and be scared for something that only might happen. If it were a sure thing, or even had more probability behind it, I'd support it a lot more. But right now, I don't see much reason. I suppose a little preparation here and there wouldn't hurt, though.

I feel that it would be useful to have these preparations as a hedge against possible collapse, but I don't think it should become an obsession. Definitely don't let it interfere with your daily life, but it might not be so bad to stock on on necessities. You might need these items anyway, and it wouldn't hurt to be prepared.

That's exactly how I feel, strangel0ve... just keep in mind that it could happen and not be "caught" if it does. I'm sure that many people in Greece recently wish that they'd kept some cash out of the banks that they weren't able to get into when their collapse happened. And those other places. I'm wondering how many of those countries thought it couldn't happen to them?

Strange as it may sound, I'm not worried at all about stocking "things" or food, etc. Just cash, because when the banks (as we've been seeing in the news) decide to close the doors to "avoid panic" that's it... the money is locked away from the owner for as long as the bank wants it to be that way.

I don't do this at all. I can't really see any chance of an economic collapse in my country soon, unless something like war happens.

That said, I do keep stores of canned food and similar things. That's more of a prepare for illness/injury than economical collapse though.

Part of me wants to say "forget banks" when I have to pay an overdraft fee or get charged some hidden fee for a rule I didn't know I broke, like $10 if I make more than 3 transfers a month.

But a lot of things require a bank account. My credit card company doesn't accept debit card payments, only transfers from a bank. Also landlords still care if you have a bank account when you apply for an apartment.

So, I can't rebel and go off the grid yet. It's definitely scary to think of banks closing down and denying people access to their funds.

I certainly feel that the 'fiat currency' financial system the world has in place has bigger storms to face in the near future but with the world population increasing the way it is, gold may not be the answer that it was in the past. Food and water resource will be the biggest currency should the finance system collapse.

I would not completely invest in hoarding... There really isn't too many things that can be worth too much once the economy collapses. I would stock up on food and etc because it'll be much more beneficial than income later on! But don't take my word.

-Paul

I saw an episode of Hoarders where a woman was hoarding supplies for the "left behind" people that she thinks will be stranded on Earth on Judgement Day. Her house was packed to the gills with stuff and she had a lot of insects and vermin.

I realized last night, when the power went out during a storm , that I do need to have more emergency supplies on hand, but I don't want to end up like that paranoid woman on Hoarders who was living in a mess, preparing for some future disaster.

:-) How'd this old thread from half a year ago get on top again!? :-) Yeah, it's ludicrous how some people can take things to the extreme like that.

Now like you said, emergency supplies are great... there's a difference between being okay in an economic collapse when you can't get to money in the bank and being ridiculous about it.

I always have to giggle a little bit (apologies to anyone here who has one of those filled to the gill houses!) when I hear things like this because I wonder what they think is going to happen when the hoarded supplies are gone. If Judgment Day came, then they only prolonged leaving for a few months, right? Like "the whole world is gone, but by golly, I have my two thousand cans of tuna!" Uh oh, there I go giggling again.

I think this is the best mindset to have when it comes to this subject. Everything in good moderation is always best, I say. It's good to be prepared, but I think it's somewhat destructive to be paranoid sometimes, or at the very least, just being excessively paranoid. I sometimes wonder how many people bought so much stuff to prepare for last Dec. 2012's "apocalypse".

Hoarding for Economic Collapse? | ConsumerFu

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