I agree with not keeping too much savings, but I do keep a decent amount of cash on hand for if there's a run on the banks, or if the point of sale terminals are down like they were recently. I also keep a couple month's "bare bones" expenses in the bank (just the minimum - mortgage, utilities, food). But beyond this, yeah, everything else is going into investments and (physical) precious metals.
I consider the value I'm losing to inflation the "insurance premium" for having that cash-on-hand.
Don't be afraid to be called a "prepper". Some of us consider cash on hand to be useful but not adequate. "Bullets, beans, bandages and bullion" is our mantra.
For sure, but I'm just addressing that one point about having cash-on-hand/a bit extra in your bank account, as I feel like the article made it sound like holding *any* cash was dumb. I'm not saying that's the *only* thing I do, and it's definitely not. I'm in Canada and we recently (July 8th) had debit machines across the country go down for a day. Credit cards still worked, but it shows that there's vulnerability in the system. I live in a little community on a little island and we often have power outages for days, and when that happens, almost every business becomes cash only. I keep enough on my person when I'm off-island that I could stay a night at a hotel, fill my gas tank, buy a couple meals, and get the ferry home. I keep enough cash at home that I could buy about week's worth of groceries. I also live in an earthquake zone, so after an earthquake having some cash would come in handy. The money in the bank is there if I can't work for a couple months (I'm self-employment and my job is physical, so a broken arm means no income for 6 weeks). It can also be used for emergency expenses - a burst pipe at home, or a timing belt on the car, or something you'd never think of. These scenarios are way more likely than full-on societal collapse and just a little extra cash or savings can be very handy and keep you from going into debt.
The fault, dear Brutus, lies not in the stars, but in ourselves, that we are knaves/underlings" - Roman Nobleman, Cassius, speaking to Julius Caesar in the Shakespaerean Play titled "Julius Caesar".
Anybody who is STILL dumb enough at this point, despite all the dozens (or more) of times that the fake News media has been caught LYING over the last few year, to believe that lying scumbag media about anything, deserves ALL the economic pain and poverty that they have coming to them.
As they say in sales, "You can't help broke or stupid, especially stupid".
"50 doctors" and likely none of them knew as much as a village wise woman and healer. Amazing that Louis was able to survive their ministrations long enough to be executed.
Wonderful article, even if the idea of manipulating the masses goes back a lot longer than the 18th century. Also, you've mixed up the 9 and 7 in the date there where that one form of currency failed. Should read 1796 not 1976 I'm guessing. All in all a great and worthwhile read.
I agree with not keeping too much savings, but I do keep a decent amount of cash on hand for if there's a run on the banks, or if the point of sale terminals are down like they were recently. I also keep a couple month's "bare bones" expenses in the bank (just the minimum - mortgage, utilities, food). But beyond this, yeah, everything else is going into investments and (physical) precious metals.
I consider the value I'm losing to inflation the "insurance premium" for having that cash-on-hand.
Don't be afraid to be called a "prepper". Some of us consider cash on hand to be useful but not adequate. "Bullets, beans, bandages and bullion" is our mantra.
For sure, but I'm just addressing that one point about having cash-on-hand/a bit extra in your bank account, as I feel like the article made it sound like holding *any* cash was dumb. I'm not saying that's the *only* thing I do, and it's definitely not. I'm in Canada and we recently (July 8th) had debit machines across the country go down for a day. Credit cards still worked, but it shows that there's vulnerability in the system. I live in a little community on a little island and we often have power outages for days, and when that happens, almost every business becomes cash only. I keep enough on my person when I'm off-island that I could stay a night at a hotel, fill my gas tank, buy a couple meals, and get the ferry home. I keep enough cash at home that I could buy about week's worth of groceries. I also live in an earthquake zone, so after an earthquake having some cash would come in handy. The money in the bank is there if I can't work for a couple months (I'm self-employment and my job is physical, so a broken arm means no income for 6 weeks). It can also be used for emergency expenses - a burst pipe at home, or a timing belt on the car, or something you'd never think of. These scenarios are way more likely than full-on societal collapse and just a little extra cash or savings can be very handy and keep you from going into debt.
The fault, dear Brutus, lies not in the stars, but in ourselves, that we are knaves/underlings" - Roman Nobleman, Cassius, speaking to Julius Caesar in the Shakespaerean Play titled "Julius Caesar".
Anybody who is STILL dumb enough at this point, despite all the dozens (or more) of times that the fake News media has been caught LYING over the last few year, to believe that lying scumbag media about anything, deserves ALL the economic pain and poverty that they have coming to them.
As they say in sales, "You can't help broke or stupid, especially stupid".
Good article. I believe the year 1976 should be 1796
Haha, yes, you are correct! My mistake, edited now.
"50 doctors" and likely none of them knew as much as a village wise woman and healer. Amazing that Louis was able to survive their ministrations long enough to be executed.
Wonderful article, even if the idea of manipulating the masses goes back a lot longer than the 18th century. Also, you've mixed up the 9 and 7 in the date there where that one form of currency failed. Should read 1796 not 1976 I'm guessing. All in all a great and worthwhile read.