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#296465 - 06/23/20 10:24 PM Cash is king
TeacherRO Offline
Pooh-Bah

Registered: 03/11/05
Posts: 2441
One unpopular opinion -- I don't both with mercury dimes or any thing like that. Modern us currency is (and will be ) widely accepted. Carry cash.

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#296467 - 06/23/20 10:30 PM Re: Cash is king [Re: TeacherRO]
chaosmagnet Offline
Sheriff
Carpal Tunnel

Registered: 12/03/09
Posts: 3367
Loc: USA
Iíve used cash to get out of more potential difficulties than any other thing. The classic for me is the credit card machine being down when I need to pay for parking.

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#296471 - 06/24/20 04:03 AM Re: Cash is king [Re: TeacherRO]
dougwalkabout Offline
Crazy Canuck
Carpal Tunnel

Registered: 02/03/07
Posts: 2893
Loc: Alberta, Canada
When I saw "cash is king" I first thought about the financial context these days. If you can generate or hold onto cash, you are truly "king." Cash equals control and opportunity, and a strong negotiating position. Consumer debt, sadly, represents the opposite. Financial survival is a probably a topic for a different thread.

I agree that legal tender in small bills is a wise hedge against the inevitable failures of our wired world. Systems fail. Cash always works. I always have enough cash for a meal, a tank of gas, etc. -- the stuff that will get me home.

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#296479 - 06/24/20 07:35 PM Re: Cash is king [Re: TeacherRO]
MarcusPetz Offline
Stranger

Registered: 06/19/20
Posts: 3
Loc: Finland
Currency varies a lot as to what is useful. If we have a very severe collapse then the electronic cash or even dollars might be worthless. In such a case foreign cash maybe. This has happened around the world.

Another way to think of it is if you want to barter something what would you want? It can be that food is useful e.g. granola bars, chocolate bars, coffee... This is commodity money, others think that blankets or certain products are useful.

The thing is to think in your community what can you trade? Best is goodwill - and this means building community. Things like the Hudson Valley Current work as alternative currencies, but they also show relationships - money relations - in a way that is community building and reassuring.

This is quite related to me research - so I could write much more. But basically look in context and have some wealth in different ways - friendship and community and commodities not only US$ to rely on.


Edited by MarcusPetz (06/24/20 07:36 PM)

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#296482 - 06/26/20 04:09 AM Re: Cash is king [Re: TeacherRO]
Acropolis50 Offline
Stranger

Registered: 11/20/19
Posts: 8
Iíve said these words before, on this site, so forgive me if I repeat myself. To quote one of the finest poet, philosophers of the 20th. Century, Professor Robert Zimmerman, a/k/a Bob Dylan,Ē Money doesnít Ďt talk. It swears!Ē

Money buys you a ticket on the ďfilled-upĒ last plane out of town. It buys a tank of gas at that gas station has no gas left, a room in hotel with ďno vacancies ď, a walk way when a junkie is looking for ďfixĒ money and solves a whole list of analogous problems. Especially in power down situation when your credit cards donít work and you canít electronically access your bank or checking account.

I live in a highly urbanized area, with a matching cost of living. I sometimes travel 50-100 miles a day if my business takes me out of town. Iíve been stuck in those blizzards, blackouts and no vacancy hotel situations and cash has bailed me out, many times.

. So i usually carry a mix of bills in my handkerchief, wallet and sometimes my sock or jockey shorts. More money is in my car emergency backpack and EDC bag . I keep a minimum of $500 on my person. A mix of $20ís , $10s, $5s and about 10, $1s. Remember, there is often no change given in a grid down situation. .Sometimes, if i tank I might need to be able to buy high-ticket items , Iíll have some &100 bills. Add to that whatever daily cash I carry (~$100), and I might have up to $1500 easily accessible .

Now, I know this is a lot of cash and beyond the current means of many of us. But Iím older now and well established in my work and Iíve built this money up to these higher amounts, a little bit at a time, over the years, as my finances allowed.

On the same theme, today many financial planners note that you should be establishing a monthly set-side , to build up, a little at time, a 6 -12 month cash reserve of necessary home & living expenses , to be kept in your home. It took me many years to establish this cash reserve. But if you buy one less six-pack, one less bottle of wine,a few less lottery tickets, and bring your junch to work a few times.week, youíll get there. Another trick is to make 1/2 of your monthly mortgage payment , every two weeks. Do this regularly and youíll pay off your 30 year mortgage In about 13 -15 years.

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#296483 - 06/26/20 02:54 PM Re: Cash is king [Re: TeacherRO]
LesSnyder Offline
Pooh-Bah

Registered: 07/11/10
Posts: 1616
Loc: New Port Richey, Fla
taxes and financial obligations citing a fixed dollar amount are most likely payable at that fixed rate without regard for inflation.... you don't want to be unable to pay your taxes as Mary Anna Custis Lee was during the Civil War... unable to pay the taxes in person, and a personal representative not allowed to do so,and something about her husband's occupation, she ended up with "Yankees buried in the rose garden" .... near the Custis Lee mansion that was defaulted to the US government.... now Arlington National Cemetery


Edited by LesSnyder (06/26/20 06:19 PM)

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#296545 - 07/03/20 03:41 PM Re: Cash is king [Re: TeacherRO]
brandtb Offline
Enthusiast

Registered: 11/26/04
Posts: 373
Loc: S.E. Pennsylvania
Acropolis -

"So i usually carry a mix of bills in my handkerchief, wallet and sometimes my sock or jockey shorts. More money is in my car emergency backpack and EDC bag . I keep a minimum of $500 on my person. A mix of $20ís , $10s, $5s and about 10, $1s. Remember, there is often no change given in a grid down situation. .Sometimes, if i tank I might need to be able to buy high-ticket items , Iíll have some &100 bills. Add to that whatever daily cash I carry (~$100), and I might have up to $1500 easily accessible .

Now, I know this is a lot of cash and beyond the current means of many of us. But Iím older now and well established in my work and Iíve built this money up to these higher amounts, a little bit at a time, over the years, as my finances allowed."

If I'm more than short walking distance from home (say 10 miles) I have several hundred in twenties, a roll of quarters, and four 1/4 oz coins.

Normally I consider gold to be a hedge against inflation, what with the Fed pumping out dollars a trillion at a time, but few shiny coins can buy a lot of goodwill.
_________________________
Brian Brandt

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#296546 - 07/03/20 07:28 PM Re: Cash is king [Re: TeacherRO]
Roarmeister Offline
Old Hand

Registered: 09/12/01
Posts: 939
Loc: Saskatchewan, Canada
Originally Posted By: TeacherRO
One unpopular opinion -- I don't both with mercury dimes or any thing like that. Modern us currency is (and will be ) widely accepted. Carry cash.


Yes I do carry cash. Sorry to disagree but it is not King.

The last time we had a major power outage - everybody closed. Their debit/credit/tap machines didn't have power so they closed. Cash payments don't work if the businesses themselves aren't open. 2ndly, enter Covid-19; a lot of businesses stop taking cash because of the possible virus contamination.

Cash is not King. It is valuable and flexible and will be taken in 99% of the cases and is often preferred over electronic payment but it has severe limitations.

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#296547 - 07/04/20 04:12 PM Re: Cash is king [Re: TeacherRO]
Acropolis50 Offline
Stranger

Registered: 11/20/19
Posts: 8
Roarmeister: Caveat accepted. My post assumed the object of the payment is open for business or the person to be influenced, I.e. wants/ needs the money. I have seen people take cash change and coat it in hand sanitizer. I tried it for giggles. The bills dray out fast, I guess due to the real and ploy content.

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#296550 - 07/05/20 01:15 AM Re: Cash is king [Re: Acropolis50]
AKSAR Offline
Old Hand

Registered: 08/31/11
Posts: 1186
Loc: Alaska
Cash is King....right up until it isn't!

I've found I've used almost no cash since about March. Due to concerns about the pandemic, most businesses in my area much prefer that you use plastic. More than a few businesses totally refuse to accept cash. Besides that, people are using Amazon and other delivery options much more than in the past. One never knows what the future will bring, but in our present reality, as a practical matter, cash is no longer king. Plastic now rules.

The King is Dead, Long Live the King!


Edited by AKSAR (07/05/20 01:16 AM)
_________________________
"Toto, I've a feeling we're not in Kansas any more."
-Dorothy, in The Wizard of Oz

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