https://www.wsj.com/personal-finance/emergency-fund-cash-on-hand-b04136d1+
A recent name in the news claims that his Cuban heritage caused him to keep $480,000 in cash and gold bars in his home for "emergencies’.
intercst
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I think we know that portable commodities are sometimes held by those who anticipate major emergencies. The ultimates are gold and they say diamonds. Diamonds value can vary with markets but its an easily portable asset. Sewn into hems, etc.
Land is probably the ultimate security. Especially if it produces a marketable product.
Cash can come in handy but not so reliable if you think govt might fail or value deteriorates.
I’m reminded of a Hoechst coffee table book who pointed out during hyperinflation in Germany, 1920s, currency was more valuable as waste paper than as money. Prices changed so quickly they were unable to close their books one year. Instead they went to a barter economy. They made soap and paid employees and raw materials paying in bars of soap. Soap had value in the black market.
The ultimate crash gives us a barter economy. Those with something to trade or needed skills can do ok. But it has to be stressful for many–especially the poor.
No doubt the next decade or two will provide a real world opportunity to test a variety of survival strategies.
In the worst case, the living may be envying the dead.
intercst
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Another prominent “thought leader” just lost a case due to overwhelming evidence, and his ludicrous excuses. I don’t think the Senator’s excuses are going to get him very far.
Steve
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Sad, very sad…sarcasm…
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Do you always think like this? Yikes!
'38Packard
→ thanks for always providing an alternative perspective!
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Yep. That way I’m often pleasantly surprised.
intercst
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Land is not portable, is easily confiscated by government (compared to other hard assets), certainly cannot be hidden or smuggled and requires ongoing maintenance costs to retain (taxes, etc.).
Just off the top of my head - I think a stable (long shelf life) and commonly prescribed medication might be the best emergency commodity for those TEOTWAWKI situations. Small, easily hidden and smuggled, high value per gram/ounce, and more easily divisible than a gold bar.
One of the things TEOTWAWKI movies get right, everyone raids the pharmacies. Very few scenes of people trying to raid banks.
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The upper end of the fine art market is the best asset for generations of wealth.
Nothing over 400 years from now will equal art if you were ultra-wealthy and leaving money
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