?? Why would anyone hold that much
money in fiat?? 10% a year "holding fee" is pretty expensive....
You just
trade it for what you need.... and looking up the value is pretty simple. If they can use gold flakes in VENEZUELLA during an economic collapse, I'm pretty sure I'll be fine with a nice silver coin heh.
I have most my metals as 1/4th ounce silver coins. That's worth about 6 dollars each at spot right now.
But I also have a variety of gold wire / jewelry (since it's my hobby / investing strategy, along with semi-precious stones). That means in each amulet is about 5-10 dollars worth of gold. And for the 14k gold pieces, it's more like 50-70 dollars worth of gold. The very worse case scenario at material prices, those things are always worth that much.
Yea, banks are pretty good and reliable... if you ignore all of
history past 70 years ago....
They are very used to a world without crisis. Where everything works as it's supposed to...
But I know too much about our global economic system to feel so secure haha.
Yea, if you are speaking to a low level worker who just follows corporate guidelines, then of course they won't be able to handle any unusual situations.
They don't have permission to make any decisions related to business.....
Though in louisiana, utah, and
texas gold and silver are recognized as
legal tender. To be fair, not that many people will likely be cruising in Utah :P
That has no basis anywhere in the world at any point in recorded
history.....
So I'm not sure how you've come to that conclusion?
Depends how big of a problem I guess? I can't imagine anything short of a complete destruction level event across the globe would cause that scenario though...
Even if the world faces a large economic downturn,
trade will still happen and the
internet will still be working and life will be carrying on.
Haha planning for these types of
events people always seem to jump to the extreme of imagining a zombie apocalypse. Instead of just the much more boring loss of jobs and some businesses going under and prices rising with large consumer pullback while the value of what people have in their bank accounts keeps going down.
Heck, we are seeing it happening right now across the board as inflation is setting in. It isn't the end of the world...
I already have trouble with my US banks freezing my accounts randomly and forcing me to come into the local branch because they don't like the
pitch of my voice.... I sure wouldn't trust that system fully for years of cruising trusting that I will always have access to the money they owe me.
Let alone the idea of just keeping a lot of cash just sitting there being eaten away by inflation. A little fiat is fine, but anything over what you may need in the next couple months is a overkill IMO.