UK/European members. How are you preparing for the collapse of the Euro?

Me personally am doing very little, but my dads convinced the Euro is going to collapse and wants to know what to do. He keeps asking me, for some reason, but I don't have the knowledge to suggest what to do. I also don't want the responsibility of telling him what to do with his money.

So those with a bit more knowledge on these things, how are you intending to protect yourself against the inevitable collapse?

I mean how bad could things get?

I'm preparing more for the next major global conflict, but it's all mental rather than turning myself into a DIY SAS mercenary.

I live near farmlands and can quite happily live a simple life. As long as there's running streams and farmlife I'm good.

Financially I only have student debt, but # that though there's # all they can do to force me to pay that back if I'm not capable. They could lock me up, but the jokes on them because I'd still not pay it back and it would cost them to house me.

.
I don't prepare for the collapse of the Euro. There's isn't a whole lot I
can do to prepare – if anything, so why bother. I have no influence in
the outcome.
.

you should show your dad the survival forum haha
on a real note i have yet to hear a worst case scenario for the collapse. perhaps one of the more educated members could tell us what to expect. Are we talking almost everyone becoming jobless rioting in the streets tearing everything apart or somthing not as primal like in 2008

As person who has investments in Greece / Italy / Germany i am slightly nervous as to the collapse of the euro as it will bring a devastating blow to my personal wealth. Having said that, i am as prepared as my financial advisor has instructed me to do. In short, if your family wealth is based within that region then perhaps you should seek the services of a financial advisor.

In my humble opinion, i would not worry about the euro being dissolved but i am rather concerned that similar financial and political instability was and has been recorded prior to the first world war and consequently the second. This is my main concern and i will not hide the fact that i have taken steps to refocus my investments into the market that generally thrives under such stressful and catastrophic times.

Originally posted by cerebralassassins
As person who has investments in Greece / Italy / Germany i am slightly nervous as to the collapse of the euro as it will bring a devastating blow to my personal wealth. Having said that, i am as prepared as my financial advisor has instructed me to do. In short, if your family wealth is based within that region then perhaps you should seek the services of a financial advisor.

In my humble opinion, i would not worry about the euro being dissolved but i am rather concerned that similar financial and political instability was and has been recorded prior to the first world war and consequently the second. This is my main concern and i will not hide the fact that i have taken steps to refocus my investments into the market that generally thrives under such stressful and catastrophic times.

Did your financial advisor suggest you invest in the PIGS countries?

Dude, you need a new financial advisor.

The euro isnt going to collapse its all a scam to get the eurpean nations to give up most of their financial indipendence, this time next year we will be worrying about another media fed fear.. but till then lets worry about the really big issues such as x factor, or the psudeo reality tv shows that we all love they are the things to worry about. and lets not forget the celeberties I feel so sorry for them and their poor unfortunate money.. %£?@ sake I hope there is a global collapse so we can rebuild and destroy this plastic mind numbing matrialistic driven world

reply to post by woodwardjnr


Don't know what we can do mate.

Mervyn King seems to think British banks etc are better positioned than most to handle the collapse of the Euro....but he's a banker and probably has about as much crebedility and insight as his namesake the darts player.

Get out of the stock market. That means endowments, stocks/shares ISAs, all of it.

Make sure you have some of your wealth in physical gold.

What cash you have, keep in different banks at amounts below the guarantee threshold. Be aware that seemingly different banks may be related behind the scenes hence they may share a guarantee limit.

Have a couple of weeks food stored to tide over supply shortages due to panic buying.

Thats about all a private individual can do while still living a relatively normal life.

If they have to devalue the pound we will all lose.


Amusingly our media in the UK this afternoon is offering live coverage of 2 bears arriving from China. Incisive reporting guys, good job [sarc].

I am actually looking forward to the collapse of the Euro, the sooner the better IMHO. Hopefully a collapse will trigger a collapse of the EU as well. Good riddance I say.

I would stock up on some foodstuffs, maybe a months supply or more if you can afford it. Try not to let your vehicle go below half a tank of petrol/diesel. Keep up with bill payments as well, especially mortgages. This would hopefully enable you to cope should the Euro go down the pan and your country has to switch back to its own currency.

Im in the UK, and ive done nothing....as it would be futile lol.

If it bombs out it bombs out, doesnt matter what we do....if there is a financial collapse we will all suffer regardless of where we have our money.

Plus its coming up to xmas....got to get my consumer hat on and help the economy hahaha

Originally posted by Babbleman

Originally posted by cerebralassassins
As person who has investments in Greece / Italy / Germany i am slightly nervous as to the collapse of the euro as it will bring a devastating blow to my personal wealth. Having said that, i am as prepared as my financial advisor has instructed me to do. In short, if your family wealth is based within that region then perhaps you should seek the services of a financial advisor.

In my humble opinion, i would not worry about the euro being dissolved but i am rather concerned that similar financial and political instability was and has been recorded prior to the first world war and consequently the second. This is my main concern and i will not hide the fact that i have taken steps to refocus my investments into the market that generally thrives under such stressful and catastrophic times.

Did your financial advisor suggest you invest in the PIGS countries?

Dude, you need a new financial advisor.

Well if your on the ball from '95 and given the booming real estate market in the PIGS then i guess i am the one smiling atm and not one who is overly concerned regarding the possible break up. So i guess my guy made me more than enough to handle my great great great grand children right throughout their natural born life.

That was a freebie, free of charge, and you should not underestimate who actually posts within ats.

Originally posted by Freeborn
reply to post by woodwardjnr

 

Don't know what we can do mate.

Mervyn King seems to think British banks etc are better positioned than most to handle the collapse of the Euro....but he's a banker and probably has about as much crebedility and insight as his namesake the darts player.

The financial institutions will try alot harder to keep the pound strong rather than the doomed euro.
We should be relatively safe here should the euro collapse. (although we can be unsure of the knock on effect) most people I know in eurozone countries have converted their money (euros) to pounds or Swiss francs. (most of them to Swiss francs)

As we are unsure of what will ultimately happen and more importantly when.. All we can do is ride the storm and see what comes out at the other end.

Originally posted by Misterlondon

Originally posted by Freeborn
reply to post by woodwardjnr

 

Don't know what we can do mate.

Mervyn King seems to think British banks etc are better positioned than most to handle the collapse of the Euro....but he's a banker and probably has about as much crebedility and insight as his namesake the darts player.

The financial institutions will try alot harder to keep the pound strong rather than the doomed euro.
We should be relatively safe here should the euro collapse. (although we can be unsure of the knock on effect) most people I know in eurozone countries have converted their money (euros) to pounds or Swiss francs. (most of them to Swiss francs)

As we are unsure of what will ultimately happen and more importantly when.. All we can do is ride the storm and see what comes out at the other end.

Couldn't agree with you more, i have moved away from the GDP as that will have some whip lash at if and when the euro breaks down, given that germany is doing everything to try and create a stable market, considering the recent agreements with china and russia, but sadly, germany took way too long although it was repeatedly warned by the FED and China.

reply to post by woodwardjnr


Worrying about a Euro collapse to me, is like worrying about how a snow plow driver gets to work. It does not serve anyone to worry about it but what if snow plow drivers ceased to exist, well that would have a bad effect on places with snow. With the Euro, did we do fine before the Euro existed, YES!

Well if your on the ball from '95 and given the booming real estate market in the PIGS then i guess i am the one smiling atm and not one who is overly concerned regarding the possible break up. So i guess my guy made me more than enough to handle my great great great grand children right throughout their natural born life.

That was a freebie, free of charge, and you should not underestimate who actually posts within ats.

edit on 4-12-2011 by cerebralassassins because: (no reason given)

You needn't have gotten defensive. Sounds like you've made a lot of money if you can gaurentee the future of your offsprings offsprings offsprings offsprings offspring.

as it will bring a devastating blow to my personal wealth

You've contradicted yourself, are you worried or not?

BTW the 'boom' was fake.

It is not just the collapse of the euro I worry about, but as someone else said, the overall pattern of events as they mirror the past, and might be precursors to even more crisis than that.

I live in a rural area, and have a farm, and have stocked up on many survival items and weapons- that's going a bit further than most people would want to though. I have no investments out now, I sold my business a few months ago, and closed my bank account. I just started looking into how to best hold on to the money I've got and found I could buy silver coin easily. So I am taking my savings and putting it in silver. That way, it will keep it's worth no matter what happens to the monetary system, and if a real big crisis arrives, it might even increase in value.

I am defensive that time and time again, we all know that there is only one basic rule. If you have cash then do what you want, if you dont, then don't. Plastic money was , is and will remain a form of extracting what money you do not have tied up, either in a home or a business. So in short, say NO TO PLASTIC .

In regards to me loosing and it hurting me, sure that is absolutely true, you see, i am person who values 1 cent right upto to 1,00,000, beyond that, the interest acquired self supports the initial capitol. Remember, its the fist million that is hard to achieve, beyond that its called being wise and alert keeping a strict budget and simply being rational regarding how one uses his new found wealth.

As for the current Greek issue, that is all smoke and mirrors, there are far more bigger euro nations who way worse than what Greece's economy has been so well presented to the masses.

Just tell your old man not to worry about it too much. The UK is pretty lucky compared to mainland Europe on this one - imagine the problems of numerous new currencies re(appearing). Who will decide the convertible rates of exchange for all the millions of savers who have euros in the bank?

Remember when E Germany was reunited with W Germany, a lot of people said that the old East German Mark was way overvalued against the W German D Mark. As a result E Germans with savings in E G Marks were better off. But the opposite could easily happen in some countries as savers could see their savings practically vanish - say in countries such as Greece, Italy or Portugal.

The muppets will eventually work something out though but like I said there are many countries in a worse situation than the UK so just keep your savings in pounds and don't worry too much.

As the fellow member posted above, its already been decided.Simply avoid spending on useless items and keep within a rational life style and you should be okay.




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