How much cash on hand?

[Lex Concord]

To the gold/silver crowd: Pray tell, how could you use gold and silver?

A great question. Many people would simply respond "because it's real money", but that misses the mark by quite a wide margin.

"Because it has been highly valued historically, and many hope this will continue to be true when SHTF" would be closer to reality.

While it is true that gold and silver are "just metals" and have very little intrinsic value, people have come to value precious metals because of their ability to facilitate trade.

To understand why this is so, one would do well to read "What Has Government Done to Our Money" by Murray Rothbard. Within the first few pages, you will gain an understanding not only how gold and silver came to be recognized as money throughout the ages, but why money is necessary for commerce, and why gold and silver do well to fit the bill.

Barter works, but a uniform medium of exchange is required to support effective and efficient exchanges across a society.

While in a Royal SHTF scenario, beans and bullets might be the coin of the realm for a while, when people are ready to start working with money again they will likely feel more comfortable with PMs.

Also, if the SHTF trigger is that the dollar goes into Weimar/Zimbabwe hyperinflation (this possibility looms larger than most would care to believe), those FRNs that folks have in their safes will serve you better as toilet paper, wallpaper, or fireplace fuel than as a medium of exchange...unless you like Monopoly

Should one eschew having FRNs around just in case? Absolutely not. In a more localized situation (flood, tornado, etc.) this could be a true lifesaver, and will likely be gladly accepted, as it has been in most local/regional events.

 

[JustGone]

I keep 100,000,000 dollars in cash muahahhahahahah.

I wish!

 

[Ogre]

As soon as the SHTF, I'm heading to meijer and maxing out cc's on supplies, provisions and ammo. Then Gander mountain and max out another CC on guns and ammo.... in that case, I doubt a cc bill will bother me too much anymore.

 

[Lynn Smith]

A few bits of advice I have picked up over the years:

1. Keep several small caches of money
2. Keep enough cash to keep your house running for two weeks somewhere safe in the house. I am not talking rent or utilities, just food, necessities, and gas money to get to work. If banks have issues you may get your money back in two weeks or less.
3. Keep enough money for a full tank of gas, a tow, a night at a hotel, and a days worth of meals for your family in each vehicle in case of emergency. I have seen little towns that don't like plastic and you have to go to the next town for an ATM
4. Keep enough cash to run your house for a month, including rent/utilities somwhere in the house.

I do not have all this covered but this is what I have been taught is the minimum you should keep for emergencies. If worst came to worst you could collect the money from your various locations and have a nice stash to hit the road with. Otherwise it should be enough to get you out of most situations.


Thank you,

Lynn

 

[henktermaat]

Forgetting it exists is how I paid for my wife's engagement ring in cash. Every paycheck, I took out a bit more than what I wanted but not more than I could afford and stashed it in a box. After a good while, I was able to pay cash for it. Gave me some haggle wiggle room and didn't force me to use credit to buy it.

Live like no one else man

 

[irishfan]

Where do you guys buy the gold and silver at to use for currency? I hear the term all the time but nobody ever says where they buy it at.

 

[theweakerbrother]

Live like no one else man

Exactly. Or, at last, I am trying to do so. I've now got to pay off student loans which should only take me approximately 30 or so years.

But everything else is paid for... well that and the house...

ahhh crap, Dave is probably embarrassed of me.

 

[Cpt Caveman]

Find you a coin shop somewhere. Use google ,Man.You can buy what they call junk silver coins( pre-65 dimes, quarters, half dollars and dollars that have been in circulation) They have 90% silver in them.
Nickels only have silver from '42 to '45 . Do your homework Before you buy. Another way is to buy online from a reputable bullion dealer. Silver proofs (1 oz.) are a good way to get into precious metals. They won't break the bank like gold does.
Heres some articles for those of you interested:

SurvivalBlog.com

SurvivalBlog.com

SurvivalBlog.com

 

[USMC_0311]

As soon as the SHTF, I'm heading to meijer and maxing out cc's on supplies, provisions and ammo. Then Gander mountain and max out another CC on guns and ammo.... in that case, I doubt a cc bill will bother me too much anymore.

I hope that’s not your real go to plan. All most everybody else will be thinking the same thing. How long do you think the CC will work after a true SHTF event happens? My thinking is this should be your last option and hope you don't need it. If some how you got some advanced notice this may be doable but I wouldn't count on even using cash in a real bad SHTF scenario.

 

[Lynn Smith]

As soon as the SHTF, I'm heading to meijer and maxing out cc's on supplies, provisions and ammo. Then Gander mountain and max out another CC on guns and ammo.... in that case, I doubt a cc bill will bother me too much anymore.

In the majority of SHTF situations cards will be no good. If it is something that effects banks they will not accept card charges for days to weeks. If it is electrical a lot of places will refuse to use the manual card machines and tell you to return when the power is back on.

Even if cards are being accepted some places may tell you to get out of the way of the 50 people behind you that have cash. Most shop owners and managers know that in an emergency cash in the hand is much better than a promise on a computer.


Just a thought,

Lynn

 

[Ogre]

In the majority of SHTF situations cards will be no good. If it is something that effects banks they will not accept card charges for days to weeks. If it is electrical a lot of places will refuse to use the manual card machines and tell you to return when the power is back on.

Even if cards are being accepted some places may tell you to get out of the way of the 50 people behind you that have cash. Most shop owners and managers know that in an emergency cash in the hand is much better than a promise on a computer.


Just a thought,

Lynn

I was being sarcastic. In reality, when the shtf I plan on not having to go to get any of the supplies I mentioned.

 

[dhnorris]

I'm thinking 22's or 12 gauge shells would probably wind up as the new "coin of the realm" or nails or something similar, dollars will only be useful as tinder or as Charmin that is when SHTF all caps not a flood or earthquake but...

 

[Turtle]

I have ammo.... who needs cash?

 

[INGunGuy]

I keep enough cash in the safe and enough ounces of gold. I figure if the SHTF, then gold will be the only thing worth anything.

INGunGuy

 

[henktermaat]

I keep three pallets of single=oz. gold bricks for post-SHTF trading in my underground bunker. Also 3-4k of cash in bundles of 10$ bills. It's NOT located on the west side of indy at a secret farm location.

 

[PatMcGroyne]

"" $1,000 cash in small bills $1, $5, $10 and $20s. $3,000 in silver coins and/or bullion for SHTF end of the world you want to add GOLD bullion (to retain your wealth). Most trading will be in silver and/or goods/foods you are NOT going to get a good deal for your gold. However if you need to escape or manage to go to say Europe to start a new life then your wealth is easliy taken with you in the GOLD which never losses it's value like the paper. GOLD will always be KING! "" Yeah, right, I'm SOo sure!!!! Getting on the plane to Europe is gonna be a hooot! Guess who's gonna be in control of the airports? A ticket will cost you $1000 in gold, and the first person who does show any gold will be dead and robbed on 30 seconds!! You'd better think Katrina¹º !! There won't be any food in W-mart, or restaurant or tavern or any other stores after 24-hrs, and then the carnivore-caravans would head for the distributors, the trucks and terminals, and then the trains, and then YOUR REFRIGERATOR! Imagine what you'd do if YOU WERE THE ONLY PERSON LEFT ALIVE IN YOUR TOWN. You could go anywhere you want, eat anywhere you want, take food and fuel from anywhere you want.......just like Katrina, except you are NOT alone. There'll be ALL kinds of two-footed critters all around you. Hungry ones. Antwoine ones. Then you'd need two things to surivve: a gun, and some cover. If TSHTF tomorrow -- the scenario must include a reason to declare a form of Martial law -- like if a politician or his/her family were targeted by some "nut-case gun-owner" -- how long could you survive in your house with just what's there now and under your control? And how long could you keep yourself safe in that house? You better be ready. "Mental-case nut-job gunners" are becoming rather common-place. Next one could be the final trigger. PREPARE! Pat.