A Spanish company — Micholochon — has designed the Ultimate European bank crisis safety net. They want you to — literally — put your money in their mattresses:
…The video makes the why and how pretty clear.
Thanks, Barry Ritholtz
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http://cnn.com/2009/WORLD/meast/06/10/israel.mattress.money/index.html?_s=PM:WORLD
Definitely is a loser on both fronts, as a comfortable mattress and a secure place for money.
1st, who could sleep with a rectangular “rock” jutting in your back?
2nd, what a joke; if you can lift the mattress you can lift the safe. If you don’t want to take the safe, cut it out with a knife. And how safe is a combo safe that you can lift and run with? Can anyone say sledgehammer.
Yes, the issue of keeping your savings secure is real! But keeping your savings secure in this mattress safe is a dumb solution!
You know people are seriously scared for that advert to even run. I think they have reason to be scared. Specie and a mason jar buried under the house might be safer. The issue is everybody is going to know where your hidden riches are or at least to check the mattress first. Drug dealers, users and thieves most likely know where the good hiding places are better than the honest people do.
The points being missed here are that:
• with inter-bank loan interest rates at their lowest level (effectively below zero when you factor in for inflation,) its impossible for mere depositors to make their money to work for them so there is nothing to be gained by saving, and
• with the governments using their ability to raid the accounts of mere depositors, there is nothing to be gained by saving.
The lesson of Cyprus is that it is demonstrably safer for the average shitizen to put money in a mattress than to leave it lying around, doing nothing, in an institution where it may be disappeared, at any moment, at the whim of some foreign bureaucrat.
I predict a whole bunch of headaches as industry becomes forced to return to a cash only economy.
The actual money supply (the amount of specie in circulation) will equal to the GDP. Think on that… 90% deflation of the economy over the next few years.
The unions are about to get a boon, as will (dis)organized crime.
Instead of getting pay deposited in an account, we’re about to return to the days of pay enveloppes handed to you by a clerk.
The direct deposit business model is only around 50 to 70 years old. (I used to pick up my pay, in cash, in a plain brown enveloppe. I then went to my bank to deposit part it. Now I wouldn’t bother depositing since banks are no longer safe.)
The savings bubble created by direct deposits and bank balances is about 50 to 70 years old, and its going to blow away.
Local Saving and Loans (S&Ls) and Credit Unions are about to get a huge influx of small amount depositors going to their ATMs.
Big banks are about to see their growth come to a grinding halt.
I predict a whole bunch of headaches as industry becomes forced to return to a cash only economy.
Ya. But who’s currency?! None of it is worth the paper it’s printed on NOW!
And when the rest of the world catches on to what’s happening with the U.S. dollar the whole damned system may very well revert back to the stone ages where bartering or outright use of gold is used. And if it’s gold then the question is, on who’s “standard”?! Remember, the U.S. doesn’t have a gold standard any more. And you can thank your Democrat friends for that one.
P.S. Just watch as some lib-tard tries to lie about the facts or point out Nixon or something. Never mind the fact that FDR took the country off the gold standard June 5, 1933 while also implementing Social Security and a whole bunch of other semi-communist programs. Never mind his predecessor Woodrow Wilson either – another Democrat – who essentially gave the Federal Reserve it’s power and created the Department of Internal Revenue! Wilson even tried to get the U.S. into “his” League of Nations which is now called the United Nations – which only America seems to be paying dues to TOO! Watch as the only argument is to call me a foolish hooman “wing nut” for remembering history.
Remember, the U.S. doesn’t have a gold standard any more. And you can thank your Democrat friends for that one.
WRONG!!!!
The gold standard in the US was done away with by Richard I am not a crook Nixon who ended the direct convertibility of the dollar to gold on August 15, 1971.
Google it, wing nut.
You say the banks are going the way of the dodo, but then why are new banks opening on almost every main street corner?
new banks opening on almost every main street corner?
Ok… Name them.
The First National Bank of Fred the Douchebag which is backed by a loan taken against his car and his dad’s life insurance policy doesn’t count.
I’m talking about some real consumer banks like Savings & Loans or other savings institutions in a highly regulated, state-controlled institutions.
We don’t need new ones.
I respect your point of view but if government catches you with 8,000 in cash or more they can just take it under Rico Act. I think that as much as anything is why a lot of preppers are stashing all that food and telling nobody. People definitely have to eat and if things get bad enough you will be able to buy about anything with food.
I’m not for people keeping huge amounts of cash.
For one thing, who the fuck has that much un-leveraged cash? We need to get ourselves out of this debt mentality. (Having a GDP which is equal to the actual cash on hand would eliminate the problems we’re having with the credit agencies.)
Most 99%ers are one or two pay checks away from calamity anyway.
Know what the rich figured out way back when?
Live off of nothing but income and die with nothing but real-estate asset.
Can anyone explain to me how “the Gold Standard” is any better than any other monetary system?
I think I know there were stock market booms and busts under the Gold Standard, inflation too.
Seems more than artificial that one country could be rich and another poor based simply on what they dig up out of the ground?
The “thing” about paper currency is that it actually is based on something objective AND in short supply: the actual worth of the issuing authority. ……. and that is why still USA Currency is the benchmark/reserve of the world. As we inflate it by no tax wars of Father Complex resolution the Reality of that is recognized in the world money market.
Gold is one step above bartering. I’ve googled the subject several times and haven’t found anything directly on the issue I address above.
“Money” however concocted will always be subject to all the same human conditions. cockle shells, baskets of wheat, casks of ails, other humans, gold, paper.
What ever changes?
Gold is teh shiny.
Thanks HM. All I ever read is that given its rare physical occurrence it provides a stable known reference point for evaluation….but as stated, that evaluation takes place all the time anyway based on something “more real.”
Then I read it makes “printing money” impossible which is supposed to provide a stable money supply==but inflation still occurs. With money “pegged” to the price of gold, and the amount of gold available, then all the manipulations I can think of can still take place, perhaps not as easily, but they still aren’t prevented. Then you have your gold plated forged gold ==ie==everything the same.
Dumb people just chant their love of the shiney stuff and the fairy tale that life under its glow was better than now==you know, the same childish fantasy BS type of stuff they believe across most of life’s issues.
Intelligent people don’t address it all. Why would they?
Ha, ha.
Gold or paper bills are monetary “tokens” as you well know.
Their “value” is socially proscribed because other Rhesus monkeys (like Ron Paul or … Captain Ahab) think they have value.
Similar to a woman or a Republican thinking diamonds are valuable because of a DeBeers commercial — despite diamonds not being rare.
My cat places no intrinsic value on gold, fiat dollars or diamonds — and perhaps logically so — because he is not influenced by the media, but perhaps more so because he can’t eat them.
That’s right slaves. Put all your money in the one brand of mattress, the authorities will be sure to watch out for, and cart off with. As if that flap will fool them. No more so than wall safes being picture frames will. If one has a backyard, I suggest a better hiding place. In a Tupperware container, under a large pave stone, among others. And nothing metal, inside or out. Because electronic detectors will find it.
remember to put those little absorbent gel packs in the Tupperware with your money, like the little things that come in beef jerky bags, or the bills get crispy and crumbly after a few years. It’s hard to spend dust.
It’s a great idea to have mattress with some sort of secret cavity to hide stuff. Money, a gun and for Teapubs …. some of the over the top porn.
It’s a hoax by http://des.es