I wonder whether independent financial advisers (IFAs) should be recommending to their clients the purchase of baked beans and other provisions? In his article in the Sunday Times, William Kay makes some solid financial recommendations such as beware of gilts because historically the British government has managed to get out of its obligations. Kay says we should store extra food because of possible shortages. If these took place, they would happen very quickly. We should also have some gold stored in a safe place.
www.searchifa.co.uk
I have been trying to persuade members of my family of the need to stockpile certain items. This is maybe not to cope with a crisis but with perhaps more mundane issues. Recently my parents were hit by a wave of power strikes.
Last autumn we were close to financial disaster with the possible closure of Royal Bank of Scotland (RBS) and Halifax (HBOS). If ATMs temporarily closed, would people have enough cash to survive for a couple of weeks? What potential problems are we looking at? I think the favourites are the Middle East and North Korea.
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