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Preppers
Original poster

Major banking crash exercise

129 replies

Imsayingnothing · 13/02/2021 16:04

Imagine you have a friend who is high up in a financial institution who tells you that in ten days time from now there is going to be a major banking crash worldwide.

The banks will bring in a credit freeze, meaning all bank account cards and credit cards will be frozen. You will not be able to use switch, cashless payments, online payments or even take cash out of a cash machine. All accounts will be frozen.

How would you prepare for this?

OP posts:
isthistoonosy · 13/02/2021 16:08

We have around 1.5 thousand in cash at home all the time, in the fire safe (very lucky, I know). Other than that general self sufficeincy and we already have a bit of a barter network in the village. Don't know that we could do much else tbh.

Onedropbeat · 13/02/2021 16:11

No idea
I’d be able to sell things but couldn’t buy anything until I did

DH could probably be paid in cash for a small amount but everyone would be asking for it so that cash would run out quickly

My parents would be ok as dad likes to keep a hoard of cash which he currently can’t spend as no one seems to take it right now

Toorapid · 13/02/2021 16:12

I have food and fuel enough to last a few weeks, beyond that I'd have to hope "someone" got it resolved.

BadMotherLover · 13/02/2021 16:15

Is this another phishing attempt to see how much cash isthistonosy keeps in the house?

StressedTired · 13/02/2021 16:16

Are you hoping people will read your post, panic and rush out to withdraw their money from the bank today @Imsayingnothing ? Hmm

Katie1784 · 13/02/2021 16:16

I keep a bit of cash (not loads, £300-£400) at home at all times

CarlottaValdez · 13/02/2021 16:17

10 days is a weirdly long notice to get

Okokokbear · 13/02/2021 16:18

How would this planned banking crash be happening and why? Things like this tend to happen as an emergency response so not sure why anyone would have 10 days notice.

But ignore the improbability for now. I'd get cash out stock up on plenty food and fill my car up with fule.

StealthPolarBear · 13/02/2021 16:18

I would barter toilet roll. £10 per roll.

CarlottaValdez · 13/02/2021 16:21

So I have ten days’ notice and nobody else does in this scenario? I could stock up pretty easily in that case I suppose.

augustice · 13/02/2021 16:24

This reply has been withdrawn

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isthistoonosy · 13/02/2021 16:24

@BadMotherLover Grin

lightand · 13/02/2021 16:26

I have a military exercise living in the wild type book.
My DH has lots of outdoor living type skills. I would stay close to him!

augustice · 13/02/2021 16:27

This reply has been withdrawn

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ThunderBuddie · 13/02/2021 16:32

Hmmm, everyone would be in the same boat so imagine cash would become less of a commodity. People might panic buy with what little cash they had, looting and riots, some might trade belongings and skills... read a lot of preppers keep small denominations of gold bars to trade in if SHTF...

Find it interesting in a weird apocalyptic movie type way (love sci fi/dystopian/apocalypse stuff in movies) my closet prepper would have a secret lair kitted out some where if I wasn’t poor... do you know something we don’t OP? Are you trying to warn us? Lol

titchy · 13/02/2021 16:38

Well if that happened cash would also be useless wouldn't it, so no point having it hoarded - haven't you watched any zombie apocalypse films?

Pasta and loo roll will become the de facto currency if recent events are anything to go by. --and we have lots - thanks dhHmm

GeorgiaGirl52 · 13/02/2021 16:52

Go on a buying spree for nine days with all my credit cards. Then withdraw all my cash from the bank and bury it in a tin can at the base of the apple tree in my back yard.

viques · 13/02/2021 16:55

I would barter my body for food.

Luckily I like bread crusts.

murbblurb · 13/02/2021 17:01

bank networks fall over frequently, although not all banks at once. Usually happens at month end. Common sense measures for everyone are:

  • a stash of cash at home (yes, I know MN laughs at cash but that is playground thinking)
  • ideally two bank accounts with completely different institutions so you should have one that works
  • some idea of how much money you have in your accounts and what bills are paid from where
  • basic supplies at home. Given any of us could have to stay home for 2 weeks at no notice, worth thinking about regardless.
lightand · 13/02/2021 17:01

@augustice

What is the title of your book please *@lightand* ?
The SAS and elite forces Military Survival Handbook. ISBN 978-1-84804-037-3 £12.99 when I bought it.

Has all sorts. How to build things outdoors. Animal footprints. Edible plants. etc

Devlesko · 13/02/2021 17:02

I would be ok because I prefer cash to money and don't trust banks.
We have cash hidden.

DobbyTheHouseElk · 13/02/2021 17:04

Switch? Is this book set in the 1990’s?

Cheator · 13/02/2021 17:05

Well I would wait for them to get it back up and running. Plenty of food in to last a few weeks so nothing else to really need cash for.

Seasidemumma77 · 13/02/2021 17:09

I try to ensure I always have at least £20 cash in my purse, when I can £50, and confident enough tins, pasta rice in cupboard etc to keep us going at least a week.

Been doing this since I was without my bank card for a week after damaging it.

haba · 13/02/2021 17:10

This is the preppers board- we all have weeks of food and essential supplies, we'd be fine!

DH is pretty high up in a bank, so I'm guessing my family might have some prior notification. Ten days is complete fantasy though.