Can You Eat Cash & Coins?

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Of course not; you cannot eat cash and gold or silver coins! In the past year, I've heard and read recommendations to turn your liquid assets into one-third food, water, paper goods, first aid, etc., one-third into cash, and one-third into gold and silver coins. However, as time has moved on, and as I continue researching Y2K, the progress, or lack of same, in fixing it, I'm convinced the above recommendation is not wise. Rather, I believe liquid assets should be two-thirds food, water, etc., and one-third cash and coins. Maybe even three-fourths the former and one-fourth the latter. "Excess" food can be used for barter as well as cash and coins...maybe more so. If one has, say six months' worth of food, water, etc., and society has some semblance of order again after five months, one can still eat that last month's worth of food--or give it to a food bank. In addition, stocking up now is not hoarding and in fact, might it not be a boost to the economy? It could cause grocers to order more, food processors to order more from their suppliers, suppliers to order more from the farmers, dairymen, etc. Trucking companies might have to hire more drivers to deliver--for the next 10-12 months. Is all this not good common sense? Anyone agree? Or disagree? Looking for wisdom! Granny

-- Holly Allen (Holly3325@juno.com), December 15, 1998

Answers

Doesn't it also depend on how mobile you expect to have to/be able to be (food bulky to carry around), how many assets you have in the first place, how many people, of what ages, are involved in your household, how much disruption you expect? In WWII Europe, the only way you get any dental work done was by providing the metal (gold) for the filling, but coffee, sugar, cigarettes, soap were worth as much or more than money, in any form.

-- Maria (encelia@mailexcite.com), December 15, 1998.

It is a matter of 'first things first', no? Water, food, and other essentials for survival. Stock up until your sleeping point or the money runs out. If you are lucky enough to have something left over, then consider the other stuff.

-- Rob Michaels (sonofdust@net.com), December 15, 1998.

Actually, I have a great recipe for greenbacks..

But the money in Australia is this stupid plastic crap that feels like candy wrappers, not cash, dammit. I tried eating a fiver once, since the alternative was McDonalds. There's probably more nutritional value in my fingernails..

(Although both -fingernails and money- beat McDonalds hands down in taste, nutritional value, quality of service and hygiene).

--Leo

-- Leo (leo_champion@hotmail.com), December 15, 1998.


For many years I have bought silver whenever I could because I can't afford gold. They say that silver is poor man's (person's) gold. Well I have to agree with that saying. I have collected silver because I knew that one day people would realise that the paper dollars that are in each of our wallets will be relised as worthless or not as worth much as we would like to think. First, I ask the question - what backs up our dollar? The only answer I get is that it is backed up by the workforce. Now that's a scary thought. Second, if our dollar is not backed up by anything that is of regulation such it was when we were on the gold and silver standard then just how much can be printed of today's dollars? At least when we were on the gold and silver standard no money could be printed unless they had an amount of this precious metal to back it up. Therefore, our treasury's printing press can run day and night and make all the money they want. Once this money gets into circulation then we have an adjustment called a recession. Finally, maybe we will never return to the gold and silver standard BUT something will once again back up our dollar. This awakening will become evident when people relise the difficulties each one has when they try to empty there digital money reserves. Our economy has been in trouble for quite a while (the day we went off the gold and silver standard) and no one - not even me will ever say the dollars in our pocket are not what they appear to be. In summary, now that our dollars and digital money has a worth and can buy STUFF then it is time to reinvest our so called wealth into something more acceptable and recognized. The big question is, "What?".

feel free to e-mail me with your thoughts if you so desire

-- Duane (Duane24062@aol.com), December 15, 1998.


Holly, you are a wise person and see it the way I do. I have always believed that you cannot eat gold or silver. I have no use for it because it won't fill an empty stomach. Some of us are betting that goods will be worth more than gold and silver. I suggest that you store up at least 1 years worth of water, food, seeds, alternative energy, and luxury goods. However, I am afraid that the majority of people will perish because it will be too late for them for prepare. I've been at it for 16 months, and the majority just DGI.

-- bardou (bardou@baloney.com), December 15, 1998.


Inexpensive items for barter could be really helpful too. Somebody above mentioned coffee, sugar, cigarettes, and soap in World War II Europe. Toilet paper and matches from what I hear are great barter items as well.

-- Kevin (mixesmusic@worldnet.att.net), December 16, 1998.

Great-granny Holly, I agree with you. When the value of the ruble was falling in Russia, the people rushed out and bought as much food and supplies as they could. Those items retain their value.

-- Gayla Dunbar (privacy@please.com), December 16, 1998.

Obviously, food and water is more important than cash and gold, if it comes down to a clear choice. But consider the following:

1) Preparing for the worst implies that you are also preparing for scenarios up to the worst case, not just the worst case. This certainly would include a scenario where there is enough of a system left where people will still accept cash or gold.

2) When it comes to exchanging goods and services with people, it all comes down to the confidence level of people anyway. I would think that in the early days after a collapse of the banking system, people would still think that it will be only a matter of time before everything is restored back to normalcy. During this period, certainly cash would be both accepted and welcome, since any other kind of "tender" other than pure bartering (or gold) would be next to worthless.(Even if someone were willing to accept a bank check, or I.O.U. of some type, it is obvious that cash would always be the tender of choice.)

3) I am no expert here, but there have been lots of articles that I have read that have pointed out that, historically, gold has always been accepted as a currency base in previous downtrodden times of woe.

-- Jack (jsprat@eld.net), December 16, 1998.

One cannot eat cash, gold or silver, but one can use them (probably the gold and the silver) during hard time to emerge better off on the other side of an event such as Y2K. History teaches us that fortunes are made during times of crisis and hardship. Joseph Kennedy, after all, created his family's fortune during the Great Depression by engaging in the business of big-time bootlegging. Gold and silver have intrinsic values that have made them valuable throughout history. When times get bad, you probably will be in much better shape if you have gold and silver than if you have greenbacks. Ideally, you should have food and other supplies as well as gold and silver.

-- Vic Parker (rdrunner@internetwork.net), December 16, 1998.

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