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3 months cash on hand...good idea?
I've heard that this is a good idea in case banks fail and you are unable to get your money out of your accounts. What does everyone think about this strategy? I'm already doing it but I am wondering if it is really that good of an idea. After all the money is gaining no interest and is losing value with inflation. Would it make more sense just to invest that into PMs? Would love some input.
Thanks,
C.D.
Print
I keep a stash of multicolored trading beads that are popular in the south sea islands, and my passport handy . . . 
Seriously, absolutely, I would keep 3 months of cash onhand at all times. I'd also keep some junk silver, just in case the buck goes kerplunk . . .
CloudfireOnFire.com
C.D.
yes absolutely. the dollar is still our accepted medium of exchange. We could still have deflation. cash in your hand is money you own. money in the bank account is only a promise to pay. you should buy PMs as well. Not paper stocks, but the physical stuff.
brian
A good idea but it depends on your income and your expenses. If you make 60K a year and have the normal expenses associated with that, it's very reasonable to have 15K around. If you make 400K a year and have your mortgage paid off and no other debt, keeping 100K of cash on hand is a bit much. Even though it's legal, you could run into money laundering issues as well. In a SHTF scenario, you will most likely scale back your standard of living and not need as much. I agree with Cloudfire about having some junk silver on hand in case the paper becomes worthless. Then, as you are able to, add to your supply of gold.
To hell with cash, buy ammo! :)
(Plz note any intelligent agencies reading this post should note its a damn joke!)
Morte alla tyrannus et dei
Formally Zombie210
Thanks for all the input...it is greatly appreciated! I thoroughly agree about stock piling ammo. You can look at that as an investment as well
I keep a stash of multicolored trading beads that are popular in the south sea islands, and my passport handy . . .
Seriously, absolutely, I would keep 3 months of cash onhand at all times. I'd also keep some junk silver, just in case the buck goes kerplunk . .
It might be more useful to create a cargo cult based around the stunning achievements of the banking industry. Perhaps if we dress up like bankers, act like a pirates, plead poverty and threaten to destroy the international financial system, the Gods will summarily dump boatloads of wampum, cowrie shells, goats, or worthless fiat on us. It's worth a shot. The "Cult of Bael-Out"--that's catchy. Want to be a high priestess, Cloudfire?
Cargo Cults--Wikipedia:
"Cargo cults thus focus on efforts to overcome what they perceive as the undue influence of the others attracting the goods, by conducting rituals imitating behavior they have observed among the holders of the desired wealth and presuming that their deities and ancestors will, at last, recognize their own people and send the cargo to them instead. Thus, a characteristic feature of cargo cults is the belief that spiritual agents will, at some future time, give much valuable cargo and desirable manufactured products to the cult members[citation needed].
In other instances, such as on the island of Tanna in Vanuatu, cult members worship certain Americans, who brought the desired cargo to their island during World War II as part of the supplies used in the war effort, as the spiritual entity who will provide the cargo to them in the future."
If you have it, do it. I actually keep 12 months cash on hand in different locations. Its not like it's making interest;-) I also keep 2 months cash in Yen, Swiss Franc and Yuan.
Again, do it if you can. Diversification will be key when shtf.
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