It seems pretty straightforward. However, I am not inquiring about which bag you prefer. My question actually pertains to currency. More specifically, what happens when dollars and credit cards become as valuable as the paper and plastic they are printed on. What happens when you want to make a purchase, but they won’t accept your cash or card? Have you ever even considered that one day people would stop accepting either currency?
We expect the Dollar to have less value in England. Japanese expect to spend more Yen in America. Exchange rates have been around for ages. What happens when the exchange for everyday services is effected? What if our own communities would no longer accept our dollars because they had been likened to monopoly money? How do you go about buying a sandwich if you can’t use paper or plastic? How would you fill up your car with gas or pay to ride the bus? All very good questions.
There has not been a gold standard for about 30 years. If the dollar was not the reserve currency, then we would have ran out of it long ago. Think about it. Since the days of ol’ Rome every single fiat currency has collapsed. Every singe one. The dollar, too, has been prime for the fall since the day I was born.
Now, I’m not telling you to overload your portfolio with precious metals. I’m not telling you to stockpile a two year supply of canned food. I’m not telling you to invest in a 50cal rifle. (I’m not saying any of those ideas are bad ideas, either…). I think it’s in everyone’s best interest to have a contingency plan. I am certainly not a scholar on the issue. I just think having a plan B, besides the morning after pill, seems like a worthwhile investment for all of us to make. I have a lot of friends who wouldn’t last for two weeks if shit truly hit the fan. How long will you make it?
- “Libraries will get you through times of no money better than money will get you through times of no libraries.” ~ Anne Herbert
- “Money is better than poverty, if only for financial reasons.” ~ Woody Allen
- “Wealth consists not in having great possessions, but in having few wants.” ~ Epictetus
- “People who want to make a million borrow a million first” ~ Sophie Kinsella