Apparently these notes are being discontinued.
I hear that some preppers are stacking metals as a means of preserving their wealth. They are afraid of stuff like this:
I am not sure if gold and silver is an effective means for hiding your assets and preserving your wealth. The gubbimint is watching the gold and silver distributors like hawks. You can bet they know exactly who is buying and how much. Our own rat faced prime minister here in Canada has made some derogatory remarks about those awful dirt people squirrelling away cash and depriving the gubbimint of their rightful share. How do ya spend metals anyways? Now, with electronic banking, the gubbimint knows exactly how much money you have, and exactly how you spend it. They have it right down to a science too - that's how they catch a wide variety of criminals. If Jamal is just a pore n' starvin' immigrant who came to Canada to live the dream - why is he driving around in a high end pimped out SUV? A little digging, and all of a sudden the cops see Jamal making a lot more money from his job at McDonalds than he should. They can do the same thing to any citizen they want.
I am no economist, but to me it looks like the whole economy has to buckle at some point. There's too many gov't sanctioned Ponzi schemes - from health care to welfare, too many white elephants, too many boondoggles, too much corruption. At some point something has to give. How does one "prep" for such interesting times?
If currency fails, think about what you might need, and what other people will need or think they need. Non-perishable food is going to be valuable, as are medicines and medical supplies. A bicycle will eventually be better than a car, and off the grid power generation will be valuable. I don't think it will go much further than that, but communication might become essential in some cases, so a CB or HAM / Amateur radio set will be valuable.ReplyDelete
Digging your way out of a situation like that one will take time. Five years minimum, and no maximum that I can see.
What's important to understand is that good old long green as we know and love it is only valuable because we the great unwashed accept it as legal tender. If that acceptance stops, expect all hell to break loose. This is opposed to the gold / silver / platinum standard, where each note can always be redeemed for an amount of a precious metal. Gold, for instance.
I was in South Dakota before the Y2K crises, and a bunch of the boys were loafing around the gun shop with old Commander Cody, the Poor but Hones Gun Trader of South Dakota. The talk turned to the old SHTF scenarios, and one cowboy wondered where they'd get ammo, food, and general supplies.
"Well, just take your rifle and go up to the North Fork Ranch some night. You can have all you want," said Cody, dead pan.
All the cowboys laughed, some a little nervously. Cody looked at me and said, "It gets right cold around here, Bill."
We had a good laugh over that, and one of the cowboys wanted to know where I'd be through the whole business, me being a computer guru and knowing about such things. When I said I hadn't made up my mind yet, old Cody speaks up.
"You can come and stay with us, Bill. North Fork Ranch ain't the only place."
That got another laugh, but everyone there knew that the owner of North Fork was some SOB that Cody could just shoot, bury, and walk in to breakfast.
So if you know of some SOB like that, well, keep your shovel with you.
I should add that I've seen a $1000 bill, US. I was about 13 or so, and my neighbor cashed his check and the bank didn't have any c-notes.ReplyDelete
I think a good stock of .22 ammo, toilet paper, cigarettes and booze will give you really solid trading stock.ReplyDelete
The tales out of Venezuela are interesting. I've heard that if they smell bread baking or chicken cooking - you'll have a hungry mob breaking down your doors.ReplyDelete
Not only do you have to hide your assets from the gubbimint - your next door neighbour is a very real threat too.
In Venezuela you have to hide your dog from the neighbors these days. I don't think you'll find a cat in the entire country. Well, maybe in the Presidential Palace, but that's about it.ReplyDelete