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Old 02-10-2017, 04:06 PM
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Originally Posted by LordOpie View Post
i have to hide cash or my wife will spend it.
LOL, "Lord" Opie....
Old 02-10-2017, 07:40 PM
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I only hide whiskey and rum from my better half.
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Old 02-11-2017, 04:50 PM
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Default Wow, Are There Really So Few of Us Who Refuse to Bet Our Life Savings...

...on digital currency in the banking system, the ATM network in particular, all backed by the credit markets and FDIC?
[quote=survivedall;13493025]True, but then again banks do not need to close.

Sorry, I guess this rant about digital cash was OT...OP just asks how we break down our cash allocation and where we keep it. Which is actually a darned good question.

But it is interesting to see the extreme variability in how this group of exceptionally risk-conscious people evaluates the relative risks of holding cash in electronic vs. paper form, n'est-ce pas?
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Old 02-11-2017, 06:23 PM
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Originally Posted by mygunisjammed View Post
I always read that one of the first things to do financially is have at least six months of earnings put away in a safe place, not in stocks. But where do you keep it? If its all in the bank and the banks close, then what? do you put half in the bank and half in a shoe at home and a few dollars in your car? what is your ideal breakdown of where all to put it?
- PMs in a floor safe along with a some greenbacks. The greenbacks are my in-case-the-power-goes-out-for-a-few-days funds. This is also my fund for buying more cheap PMs and firearms off of craigslist.

- Some in savings account, some in a checking account. This is also my fund to buy cheap real estate or below market PMs from online auctions.

- Some in a brokerage account invested in a revolving series of short term (<90 days to expiration) tax-free municipal bonds. Even with commissions, these pay about twice the best short-term CD rates, and it's tax free.
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Old 02-14-2017, 12:35 PM
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Doug Casey says cashless society is coming. Stock $5s $10s and $20s whereas 50s and 100s will be outlawed first. Happened in Australia and India first, we can't be far behind.
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Old 02-14-2017, 01:13 PM
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Originally Posted by RoyWalker View Post
Doug Casey says cashless society is coming. Stock $5s $10s and $20s whereas 50s and 100s will be outlawed first. Happened in Australia and India first, we can't be far behind.
Good reason to inventory all those hidey holes...the downside of being spread across 3 countries.
Old 02-14-2017, 07:41 PM
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Bet he's got a load of whatever currency they have down in Argentina. . . or more like the yellow stuff and beef cattle.
Old 02-15-2017, 03:24 PM
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I don't know if anyone thought of Safe Deposit Boxes, but that's what I use. Banks don't like customers storing cash in them because they aren't FDIC insured, so if the bank burnt down, your out that cash, but I still do it.

Safe deposit boxes are also IMHO an excellent place to store hand guns. The banks typically don't inventory what is put in the box so you really can put whatever you want.

Cashier's checks are a good way to hide money. You pay a few bucks for them and they are good for a few years. If you need money, you can take one cashiers check that you addressed to yourself and use it to buy another smaller denominated one and keep the remainder. If someone steals them, you just go to the bank and let them know. You should be able to get your money back.
Old 02-19-2017, 09:26 PM
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Quote:
Originally Posted by LordOpie View Post
i have to pull what little money we have in the bank and hide cash or my wife will spend it.

I'd like to hide a little somewhere other than various hiding spots in the gun safe as she's find those nooks.

Are those fire proof bags any good? I hear they're all fiberglass splinters?
My wife#1 needed a much richer guy than me. For that reason and others, I moved on.

Wife#2 ... yep, a spendthrift! I moved on.

Wife#3 is a country girl with simple tastes. Not only is she modest in her spending, but she does not complain if I say we need to throttle it down.
Old 02-19-2017, 09:30 PM
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Have $1,000 in a savings account or mm. Purpose is to be used in emergencies, e.g. Car repair, so you can avoid going into debt. As for cash, I keep 100 in my wallet, a couple hundred in the petty cash envelope and 100 in my truck.

I should get more out for the safe. But depends on your forecast for the future. What are the likely threats? Would you have to evacuate, I live near a dam. Do you thing the grid will fail? A run on the banks?
Old 02-19-2017, 11:42 PM
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Quote:
Originally Posted by TonyDedo View Post
What you want is a liquidity waterfall: small amounts of cash that are easy to access, and progressively larger amounts of cash that are increasingly safer but harder to access.

This is just an arbitrary example, assuming a person with $2,000/month of living expenses:

$200 cash in your pocket at all times. Easy to access, combined with a credit card it will get you out of most jams. Be sure to replenish this regularly, as pocket cash has a way of disappearing at vending machines, sandwich shops, bars, etc.

$2,000 cash in your home in a fire resistant lock box or safe. It's reasonable to duplicate this and have a second $2,000 at a second location (work, family or friend's house, etc).

$12,000 in the bank, invested in a money market fund or CD waterfall (i.e. relatively easily accessible, invested against inflation).

$240,000 in a long term investment vehicle (susceptible to market timing, so you don't want to have to rely on it tomorrow, but will grow over time).

I would warn against "stashing" money in too many places. Caches buried in the yard are easily forgotten and are vulnerable to loss.

Also, don't let yourself be swayed by the tinfoil hat crowd - you shouldn't be afraid of banks. They're well insured, and they protect you from the most overlooked form of loss: inflation. Stick $10,000 in a coffee can and bury it in the back yard, and 10 years from now that's going to be worth a whole lot less than $10k.
Yeah lets see here........FDIC is broke, so I wouldn't bet my survival on a government plan that is subject to shtf. And anything in any finacial institution will not be there and available when a banking holiday is declared.

Ask the Greeks and those in South America what happens when a bank goes under? Money in deposits ends up being the banks money so they can pay their fiduciary responsibilities off.

Yeah it's tinfoil hat type thinking that your money is safe in a bank. I think it is tin foil hattery to believe banks are safe.

At the very least, at least use a credit union instead of a bank. They don't rely on FDIC and are self insured, NOT GUBBERMINT insured.

IMHO, keep as much cash as possible literally anywhere but in a bank.

Last edited by PrepperCon; 02-19-2017 at 11:43 PM.. Reason: correction
Old 02-21-2017, 04:03 PM
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Quote:
Originally Posted by PrepperCon View Post
FDIC is broke, so I wouldn't bet my survival on a government plan that is subject to shtf.
What SHTF event is it that you are thinking where the FDIC won't honor their commitments?

Quote:
Originally Posted by PrepperCon View Post
Ask the Greeks and those in South America what happens when a bank goes under?
1000's of banks went under in 2009ish, right here, in the USA, and I have not heard a single story of those who were not made whole under FDIC regulations. They even made exceptions to include money market accounts and in many instances increased the allowed insured limits.

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Originally Posted by PrepperCon View Post
I think it is tin foil hattery to believe banks are safe.
Everything has risks. There are a risks associated with getting out of bed in the morning, and there is a risk associated with not getting out of bed.

There is a risk of burring cash that will decompose, get lost, or get "found". There's a risk that overnight something will happen and stores will stop taking my credit/debit card and only accept cash. (happened to me in NY with the blackout in about 2003).

That being said, if a situation arises where the $100 in my wallet, and my credit/debit card are not enough to get me through the situation, then I will need to rely on my gun. If that is not enough, it doesn't matter were you hide your money.
Old 02-21-2017, 04:06 PM
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A good, secure safe... and a "few hundred bucks" is not enough. If we go into hyperinflation, that is nothing. Honestly, you need to have access to $10,000 dollars if possible.
Old Yesterday, 06:51 AM
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Originally Posted by ambos lados View Post
Seriously? Even as an "arbitrary example," only $2200, less than 1% of your "waterfall" in hard (i.e. non-digital) cash? How long/how far will that take you even just when the power is down, let alone when any of several different types of contingencies disrupts the ATM/credit card/banking system locally or nationally?

I've seen the way people--individuals and business people--panic, just seem to lose their minds, even in the first few hours of a simple snowstorm, internet or phone line failure, anything that disrupts the flow of electronic payments. At first you may have to show somebody how they can even write up their sales on a notepad, in semi-duplicate, take your money and tear off a receipt to give you. But with cash you can at least go to the front of the line, make deep discount deals, pay contractors to do your stuff first, and get out of the store. Must one have a tinfoil hat to suppose this is not the worst that could happen?

I actually like your liquidity waterfall concept, but I definitely like my waterfalls a lot wetter and faster flowing up front!
What do you need for $2200 when the power goes out? you can make all your monthly transactions on line in 30 minutes as long as there is power somewhere. If SHTF I can't think of anything one would need to buy on the spot with cash unless you aren't prepared. Cash is for convenience during every day life IMHO.
Old Yesterday, 10:26 AM
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Quote:
Originally Posted by preperguy View Post
What do you need for $2200 when the power goes out? you can make all your monthly transactions on line in 30 minutes as long as there is power somewhere. If SHTF I can't think of anything one would need to buy on the spot with cash unless you aren't prepared. Cash is for convenience during every day life IMHO.
Post Katrina:

Some banks went under (LITERALLY under water at every branch)

For months afterwards bills, morgtages, living expenses etc had to be paid.... when they did not have access to their checking or savings accounts. (Morgtages either being sold off or at a different bank... THEY lasted, just not "your $10k in savings Mr. Smith")

Yes there was quite a bit of government assistance, but people still lost their homes (some flooded, some not) etc over it.
(Many jobs were under water as well.)

Just one example off the top of my head.
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