With so much electronic fraud, will physical posession be preferable?
Posted by Robbie53024 9 years, 10 months ago to Economics
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We all face a question: what is a small, universal commodity that will retain its value more or less indefinitely? The answer to that will vary with circumstance. In a complete economic collapse, someone with food in a hungry nation is unlikely to want to trade it for precious metals, which simply won't be all that precious any more.
One stray thought: during at least part of World War II, some aircrew and other personnel who might well end up stranded far beyond enemy lines were issued what appeared to be a small block of rubber as part of their survival kits. Inside the block were several gold coins and two or three simple gold rings. Vanity just might create value even when hunger puts a damper on anything that could be considered a "normal" economy.
Another weird thought: what about penicillin and other basic but essential drugs? How long can they be stored? For the moment, at least, a lot of veterinary drugs can be purchased without a prescription and at relatively low costs. MOST (not all) are the same stuff we usually get from a pharmacist. It might be worth looking into.
And of course there is a considerable difference between amassing a "store of value" which will serve in something resembling the present economy and something of a "survival" situation. In the latter, raw materials and tools may well prove to have more value as media of exchange than any traditional currency.
Beyond that I can only suggest having some means to flee the country (only useful if the collapse is confined to one country), or to hide the way the Gulchers did. Because the other obvious ways of getting through an economic collapse (like having your own farm) only work until somebody stronger finds you and plunders you. With or without a badge.
Not as portable as gold or silver, but still, an item of value which draws its value from utilitarian purposes.
Roman soldiers were once paid in salt. "Salarium", from which the English word "Salary" originates.
Seriously, though. You want something that has persistent value. Value is derived from needs and wants. So start from Maslow's Hierarchy and go from there.
Life => protection. This is where bullets come in.
Shelter. Pretty straightforward.
Water => filters and collection/access.
Fire => fuel sources for heat/cooking. Amount may vary based on climate.
Food => fuel for the body/mind. Especially non-perishables with long shelf life. If you don't know what these are, ask a "prepper".
Everything else.
I guess we'll just have to take our chances.
No way of knowing whether that loophole would exist in a future law, of course, but to my knowledge, while FDR's "law" was in effect, no individual was ever prosecuted for owning gold.
https://www.youtube.com/watch?v=_KvO-8Iv...
to be immune from hacking. . we hope. -- j
Cui Bono? Who profits? Who skated and who evaded transferring to million dollar a year jobs?And who marched right out and voted them back into office every two years of more than the last twelve? Who allowed this to happen and who supported it? I suggest cleaning up our own mess as a first priority of public business and that starts with using the recall at the local level. if you don't have it get it - then use it. Not going to get at the top but a little hamstringing goes a long way at the bottom.
Think about it next time you are tempted to vote for the government party in either of it's two forms. It's not what they say it's what they do, have done, and will continue doing that counts. Supporting evil greater or lesser only makes you an individual who is a supporter of evil.
Äs for electronic fraud? Nothing new there only the format has changed. Is it any greater than changing coins for 'tokens and making printed money unacceptable for all debts pubic or private?
I suspect the average attitude will be ho hum is it time for the game? Which channel. You get what you asked for and deserve. The power to do it to you was granted by none other than yourselves.
Stop whining.
By the way, are you aware that you no longer "deposit" your money in the bank? For a few years now, when you put funds in the bank you are technically *loaning* the bank your money, and instead of being a _Depositor_ who MUST be repaid, you are now a _Creditor_ who, should the bank fail, must stand in line behind the bank's landlord and cleaning service in *hopes* that the court will give you a reasonable portion of your money back out of the bank's actual assets.
[ http://bit.ly/Bail-In ]
Your cash ain't nothin' but trash ... [ http://youtu.be/KdFGbJBi6e8 ]
It seems that some hacker installed malware into the company's server and was attempting to steal credit card info from purchasers, during their transactions. The outfit found and removed the malware, but sent letters out to all affected customers, as a precaution. They also offered a complementary year's membership in an ID protection service from one of the big three credit reporting agencies (Experian, I believe).
This incident just occurred, which is why I think it might even be connected.
There are a couple exceptions but I prefer to keep a low online profile.
If you can't hold it, you don't have posession!
I do a lot of that....
I am just mechanically, electrically, carpentry, etc. inclined and know how to make things happen. Always learning.😀
I realized this not long ago when I had a flat tire on my 14 year old car, which has been in my possession for just over four years. When I removed the jack and spare, I discovered that neither had ever been used before. There was no air in the "donut" (I carry a 12 volt compressor, so little problem there--and my bad for never checking).
Surely the previous owner had had flat tires--everyone does. But he'd never changed a tire. Presumably he got out his phone and called whoever provided "road service". The thought never occurred to me--I grew up in the country before the age of cell phones and flat tires were part of life.
A simplistic example, but at least one person out there paid people to change tires for him (some to think of it, I once knew a woman who refused to learn to pump her own gas). I'd bet that most of us have more significant skills than that.