I've been reminding people here periodically of situations like those which make cryptocurrencies useless.
As much as we want to enjoy the high-tech world of crypto and the metaverse, we need to be ready to deal with the physical world. It's a world where paper money-- and assets based on that paper-- will reach its intrinsic worth; last time I checked, that was zero-point-zero.
Physical assets will regain their rightful place as money. Most likely, this will mean precious metals. However, it can also mean industrial metals such as copper or nickel. Then there are agricultural goods such as grains and the products we make from grains (most especially alcohol, which had been accepted as tax revenue when George Washington was president).
We'll figure something out through trial and error, because that's just how people are. It could be what I suggested, or it could be something none of us had considered. Either way, we need to recognize the value of alternate forms of money and when we can use them. If we can keep using crypto, then even better-- but we may end up taking a few steps backward along the way.
Posted Using LeoFinance Beta
My grandmother had food stocked away and money hidden all over the house, and even had cash buried in the backyard.
She was not playing.
Candles, batteries, and enough food to last a year. But yeah, this did cause me to think about how we would inteact with each other if TSHTF.
Posted Using LeoFinance Beta
Whatever assets we want to save to be able to use later as money, we have to make sure it's things that other people want as well. We can corner the market on marbles, but if no one else accepts them in trade then it's the same as stockpiling hamster poop.
Just as important is learning skills needed to acquire this money. Even if you can afford the goods, you may not have the space for storing them. Gardening, farming, foraging, and hunting come in handy here for organic goods. For inorganic goods, it could be things such as repair, mining, or restoration.
One thing is for certain. Under this scenario, the economy becomes localized. Anyone trying to centralize local economies into a large economy is asking for trouble.
Posted Using LeoFinance Beta