Reply To: “Show Me the Money….”

  • Liberti

    Member
    February 14, 2023 at 8:54 pm

    In that situation I would go with ammo. But in all seriousness here are my thoughts. I like the idea of sharing amongst the group here. I’m sure we can come up with some good ideas.

    1. Foreign currency – I don’t see an edge here. If we are in the type of crisis where they have to do something so extreme I believe the response will be globally coordinated and in the days leading up to the event I would expect the dollar to appreciate against other currencies as a flight to safety. If you held it in the US my guess is it would be subject to confiscation and if you held it offshore I think you have the same potential problems as you would with a foreign bank account.

    2. Foreign bank accountant – it could work but from my the reasons mentioned in my first post I think it would be dead money for a time. And which currency do you choose? Unfortunately I think the US is the cleanest dirty shirt and the rest of the world will be worse off.

    3. Cash – Definitely. If they do go to CBDC I think you are right that there will be a period to turn in your cash so less risk of losing it. At the very least you won’t be any worse off holding cash then you would be keeping it in the bank.

    4. Gold/Silver – Yes but in physical and not in a safety deposit box and definitely not in GLD or SLV etf’s.

    5. Crypto – probably wouldn’t hurt but they seem to be in the process of making it as hard as possible to actually buy or use. Personally I don’t want to touch bitcoin until Tether and Binance disappear.

    6. Stock’s – I posted last night about doing Direct Stock Purchases from the company. My reasoning being at least with that you avoid the broker risk, but in this type of scenario stock prices will be annihilated. Computershare seems to be the go to for companies that offer direct stock purchases if anyone is interested.

    7. Bonds – I think this has pretty good potential. If the US defaults we are in no man’s land and the entire system gets wiped out. I would have concerns about what happens if you have them in a brokerage and that goes under, but I think they will go out of their way to protect the debt markets.

    8. Prepping not to the extreme but for everyday non perishable goods that you regularly use I think having a year or two worth of supply is worth it if you have the funds and space. If nothing happens you probably can buy it cheaper now then you can a year from now. I’m thinking things like soap, laundry detergent, toilet paper, paper towels, toothpaste, canned goods. Side note apparently tide works well in the black market as an alternate currency/barter item. https://www.nytimes.com/roomfordebate/2013/01/14/why-would-drug-dealers-use-tide-as-a-currency/tide-is-an-affordable-status-symbol

    9. Guns/ammo/generator/stable fuel – I don’t think you can go wrong with any of these.

    10. Setup a business and pay yourself. I could see them handing out checks or forgivable loans like they did during covid.

    11. Land/real estate – if you can afford it buy a place in the country while you can.