Strongly considering burying my life savings

TripleAce

Rabodirect is covered by Dutch Government as it is a Dutch Bank, correct?

kaiser sauze

TripleAce wrote: »

Rabodirect is covered by Dutch Government as it is a Dutch Bank, correct?

Yes.

00112984

stevie.enright wrote: »

And it wouldn't be buried in my garden either...

For a small fee, you can bury it in my garden Stevie.

Terms and conditions apply

CamperMan

don't bury your cash in jam jars with metal lids or some scrote with a metal detector will find it.

CathleenN

I don't really want to scare anybody, but if the wrong person knows what you have done, they can use violence to force the location of your treasure out of you and then they just go and pick it up. With the bank account it is usually much more complicated.

Jet Black

If you do consider this I would be very careful, I've seen people walk out of banks with large amounts of cash and a car pull up outside and rob the person. I also know people who did something like this. Taken out all their money and keep it in their house, then somehow someone would find out and rob everything.
There is too much wrong with burying the money. If someone sees you they can just wait until your asleep and dig it up. If someone finds out you took the money from the bank the could come to your house and force you to get them the money. If something were to happen to you your money would be gone, your family would not be able to get it. If you were to tell your family maybe one of them would say it to the wrong person or even try and take it all for themself. If the money goes missing you have 0 comeback. I personally could not live with the worry but its your money so its up to you to do what you want.

Be very careful as a lot can go wrong.

boshea19

I have read this post and cant help but smile a little at the recklessness of some people.Firstly Ireland is nothing more then a dot to the EU in the grand scheme of things, but if out banking system were to fail it would have serious consequences on the banking system on a wider level. The EU simply would not allow our banks to fail. Everyone is running around burying their money in holes in the ground, demanding cash withdrawals from banks cos they dont trust cheques etc... They are underpinning the guarantee schemes, they have stated they will provide assistance to Ireland if needed until they are blue in the face, but I guess all Ireland needs is a rag like the Indo to print its own opinion on matters for the purpose to sell newspapers to panic and worry people much more then needed. The IMF have themselves stated they support the governments policy for the next 4 years, which is getting released next week, they dont want to be running Ireland anymore then we want them to so if they approve plans which they say they have, the day to day will be left to a government to oversee with a bailout loan to support the banks.When the IMF stepped into Greece bailout, a price tag of 750bn was attached, which my understanding is the IMF did not touch deposits, for the simple fact the impact it would have would not help the country further but make things worse... The Irish bailout is apparently around €80-€100bn and is seen as funding to retain for banks only, so they can be perceived in the markets as having a large buffer behind them with the aim to get markets selling funds to Ireland again so we are not 100% depending on ECB funding.I second heard Joe Duffy on the radio suggesting AIB were seriously low on cash reserves.... what proof has he of this, but of an irate customer of AIB calling in claiming it, Joe Duffy last did this in September 2008 when he almost caused a run on the banks, and proceeded to identify people on national radio carrying wads of cash that they were bringing home to bury. Joe Duffy is a live wire and unfortuntally this nation would jump off a cliff of Joe told them to. Media have a lot to answer for with scaring the public in the way they are.I guess people will believe what they want, but thought Id share my views

stevie.enright

stepbar wrote: »

First off, I cannot believe I'm reading this thread. It's mindblowing to say the least but perhaps in light of some of the stories I've heard today about people, it's not suprising.

OP, for the love of god take the time to find out the facts.

The absolute worst thing people could do now is move funds out of the country. Every euro that leaves the system must be replaced by a Euro borrowed. It is quite obvious that the banks cannot raise funds at the minute (bar BOI which is paying through the nose for funds and even they are going cap in hand to the ECB for short term liquidity). The ECB is providing support but quite obviously, this cannot continue.

The more Euros that leave the system only accelerates our demise. Why do people think we are at this juncture at present? BOI recent came out and said that they lost 10billion in deposits during Aug / Sept. Christ.... if BOI lost that much what for the rest of the banks in Ireland?

Fair enough stepbar but all the same you are not particularly putting forward a convincing argument to me. Bearing in mind that Im only concerned with me, myself and I. That may appear a bizzare point of view but as I said before I'm not concerned with doing the right thing by the state that is only sh!tting down on me or our corrupt banks. I just want to leave myself in the best possible position should things really go down the swanny which Im sure you will appreciate is understandable from my own point of view. I think we are at this juncture at present mainly due to our banks and even the nation as a whole exposure to much overvauled property, banks wreckless lending on the back of this which exaccerbated the problem. To a lesser extent failure of government policy and the failure of the financial regulator (but that might be a cause of the over-riding major problem or at least created the environment I suppose you could argue). Bank executives failure to be honest and adhere to good corporate governance standards is also a contributing factor Im sure. I don't think people lifting their money out of banks is anyway a cause of the problem rather an affect of the problem.

Also, 10bn left BOI in deposits in 2 months you mention...a considerable figure in a short space of time. Am I the only one taking or considering taking this action? Only today I heard on the radio that AIB lost 13bn year to date in deposits. Pension fund manangers who are much more clued into these matters than me are lifting money...now that sends out a pretty clear message to me.

tHE vAGGABOND wrote: »

Of course, if all the banks in Ireland fail [which they wont] and your savings were not guaranteed [which they are] you can have all the money in the world buried in your secret stash [check out the General, he did that too, and forgot most of the places he hid stuff ], as Ireland will be like post war Germany with people going around with huge cases full of money to buy bread

I'm just as likely to forget which banks I've money in as where in the ground I buried the money if I get that forgetful, to be fair about it vAGGABOND. I doubt its a good idea to draw comparisons with the present Irish scenario and Post War Germany. Bearing in mind that there was probably hardly a blade of grass coming up from the ground let alone a factory standing to bake bread in, in post war Germany....you could see how money could hardly buy food...hardly a fair comparison I think.

stevie.enright

CamperMan, CathleenN and Jet Black thanks to both of ye for yer thoughts. As I say its not something I'm going to enter into lightly. I have already and am continuing to research into the logistics and other considerations involved in burying money in the ground. I've also learned from my research that burying money and valuabes is not such an alien or backward concept as some people on the thread would be inclined to suggest.