Excess cash

This topic contains 6 replies, has 7 voices, and was last updated by  Anonymous 2 weeks ago.

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  • #8258

    Happycat41
    Participant

    just curious as to where you store your extra cash? I’m not one bit comfortable having a large savings account in a bank or credit union. I’m thinking about buying a larger safe and storing our extra in that. Obviously I would put it in a “hidey” space. What other types of currency should I be investing in. Any tips suggestion or whatever is welcome please.

  • #8261

    Whirlibird
    Participant

    Other currencies?

    Whatever direction you go, I would say keep it liquid. The problem with so many hard assets like gold/silver is  the lack of liquidity in emergencies. And unless you and whoever you are dealing with can come to terms as far as value goes, the gold is just pretty and remains inedible

  • #8264

    namelus
    Participant

    One location is a bad thing,  you could be forced to reveal it multi cache better system.  Cash expecially cotton or paper money can be destroyed by mold, coffee can in back yard is only short term storage.

     

    In most places gold can be traded but as whirl has said what is the exchange ratio, water a meal a sat call can be an oz of gold in war zone.  There is a reason  most special forces carry 10 oz of gold on them for emergencies.

  • #8269

    James Mitchner
    Participant

    Maybe instead of using terms like “currency” or “money”, its better to think in terms like “a medium of exchange” because the circumstances will determine what is of value to whoever you wish to conduct business with.  A hungry person likely will not be interested in a Gold Eagle if they know they can’t readily exchange it for food.  But a couple tins of canned beef might work.

    The FRN will still be valuable, at least initially, even though its fiat and has no real backing.  We should think in layers – cash (until it no longer has value and people refuse it), tangible trading goods (when those type items have value because they meet immediate needs), and PMs (for when some system is organized and back in play).

    As for where to store any of it, thats up to the individual.  Sharing ideas in that regard could come back to haunt those making the suggestions.

    • #21495

      Anonymous

      I agree. Your spot is your secret – just be sure you can get to it in an emergency.

  • #8271

    Loving Life
    Participant

    @jamesmitchner. I agree. I think of it in terms of levels: cash, barter (items and skills), and secondary monetary (silver, gold, etc). I am trying to store an adequate amount in each level. I decided to put more emphasis on gathering skills, but I am trying to pair it with items. For instance, I have been focusing on my medical skills and increasing my medical supplies.

  • #8289

    Littlesister
    Participant

    Happycat41 ,I do have some gold and silver. Right now silver is the best bet as gold is getting to high in price. I also have cash on hand. What I did is get a small safe and put in in a very hidden area. But like Loving life has stated. Skills and bartering items such as seeds, medical supplies, fishing items, just to name a few would be good for bartering. And yes even small cans of food would be great for bartering. I don’t think cash will do us any good after a certain point in time. Nor do I think gold and silver will either. Build on some skills such as sewing, soap making, even shoes need repair. Learn how to work with leather or whatever to repair the soles on shoes. There are lots of skills we all need to learn. I am working on what I an do now. With my arthritis in my hands and my right one very weak. I am limited to what skills I can do. So I have to work on having lots of bartering items already to go.

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