E-Mail 'Economics & Investing For Preppers' To A Friend

7 Comments

1. “A cashless society is a vulnerable society.”

   I wholeheartedly agree with JWR on this point, and as I wrote in a previous comment a few days ago in which I provided personal experiences, I believe cash will always be with us to some degree for exactly the reason stated above. Those who push for electronic payments do so because they benefit from that system, but tangible currency will never truly disappear because of the “vulnerability” to power or telephony outages. This is manifested every time there’s a major natural disaster such as heavy earthquake, hurricane, F5 tornado, etc. and the power infrastructure goes down for any length of time.

   1. Literally ten minutes after I wrote my comment above, I saw this new article on Zerohedge reporting on the effect their massive power outage has had on electronic transactions such as debit/credit cards and Bitcoin. Scroll down through the article to see the statement “…this is the problem with Bitcoin. It needs electricity…” LOL.

      https://www.zerohedge.com/news/2019-03-19/bitcoin-volume-collapsed-venezuelan-blackout

   2. The reason we´ve cash, was that IIRC a lydian treasurer wanted to pay mercenaries without to much work.

      Cash is only a convenient way to replace classical barter ot say this chicken for 3 socks, 1 little piece of bone jewelry or 1/2 gramm of pure silver for all together

2. Just wondering what JWR considers a hoard of nickels. I understand the more the better but what is a good baseline?

   1. $300 worth will fill up a 50 cal ammo can.

      1. Doc, you hit a home run.

3. There will never be a full cashless society – how would the politicians be able to accept bribes?

Comments are closed.