I received an email a couple days ago regarding the wisdom in stocking up different paper money currencies. The reader asked how much sense it made to do so and if it was a waste of time and space. That’s a good question because often survivalist and preppers think they are doing this savvy move by storing this or that, by having certain items or products to trade, when in reality the likeliness of that event occurring of such an item gaining the value you expect is rare.
For example, other than gold and silver, stocking coins and other items because of their metal speculating on a huge increase in the price is not something I’d waste my time and space. There’s a reason why they are not “precious” metals. Better buy gold and silver rather than trying to guess what people may want to barter.
Now, I have recommended having some Euros just in case. If you feel the need to stock any other paper currency, then stick to Euros alone, something every country will want if the USD ever collapses. Specially if you plan on moving to some other country when SHTF, the Euro currency will come in handy, and readily accepted. Its smart to stock up on gold and silver, and it is safer than Euros or any other kind of paper money, but as we saw several times already you need cash the first couple of weeks during the first stages of the collapse. When Chile’s economy collapsed the word on the streets was “only USD” if you wanted to buy in the black market. Something similar went on in Argentina after its economy collapsed in 2002, prices where often in USD and people traded pesos for USD even on the streets. But if the US dollar collapses? Expect most people, even in US, quoting the European currency price instead. Is the Usd likely to collapse? Don’t think so, hope not, but know it may turn out this way if it does.
This link has some pretty good info on how an American hyperinflation would be like. The author mentions his experience during Chile’s economic collapse as well.
Enjoy people, I’ll write some observations about these two links tomorrow, so it will make more sense if you already read it.
Take care guys.