Please remember that, had we an attorney on retainer, he would have advised us to disclaim, so please note that we don’t claim to know any more than you know about reality. Our politicians and media are just as much liars as yours. We offer only our opinions, worth ever penny that they have cost you.
1. The Chinese stock market is collapsing.
2. The mighty today shut down the New York Stock Exchange for a time. (It appears that government or somebody has installed a “Kill switch.”
3. The world owes unrepayable debt. Greece, Puerto Rico and others are making it increasingly harder to ignore. So:
We don’t know but we suppose that it might be nice to have a few thousand dollars or Euros under the mattress for when your banks close like those in Greece now or those in the “Bank Holiday” of the Great Depression.
We suppose that money stashed in money market accounts might (might) be safer than money in stocks or most bonds.
And we suppose that money in bank deposits is at risk, as Cyprus and now, Greece seem to conform. (A word to the wise …)
Moving to keep a somewhat larger on hand stock of necessities won’t hurt and may be useful if economic shortages appear where you live. (Ask a Venezuelan.)
For the determined, a modest amount in silver or gold coins may provide comfort should the worst materialize. And don’t assume that investments into mutual funds, savings, stocks, real estate or any other good will never be subject to deflation. Stockpile stuff with an intrinsic value that can be traded upon a black market. (The more ready you are, the less likely your need will occur.)
Noting the closure of Greek banks, don’t keep any of your “in case” stuff in a bank safe deposit box.
We know that we sound like some extreme, right wing nut case. Please note two things: We are not right wing by current standards (nor Left) and two, we will be vary happy to appear overcautious. Better over we say, than under.
But hell, what do we know?