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Is it wise to keep cash stashed away vs. in a bank?

 
Anonymous Coward
User ID: 1286718
United States
06/14/2011 12:52 PM
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Is it wise to keep cash stashed away vs. in a bank?
If the economy continues to get worse and there is a run on the banks... will it make sense to have cash in a coffee can buried in the yard? Will cash money be worth the paper it was printed on at that point?

And please don't bring gold into this. You still need cash to pay for day to day items/unexpected bills/etc.

Bank at the bank or bank at home?
AlasBabylon

User ID: 1405074
United States
06/14/2011 12:55 PM
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Re: Is it wise to keep cash stashed away vs. in a bank?
.


Except for a couple of thousand for emergencies,
it's best to keep cash in an FDIC insured bank account.



.
Anonymous Coward
User ID: 1426764
United Kingdom
06/14/2011 12:58 PM
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Re: Is it wise to keep cash stashed away vs. in a bank?
If the economy continues to get worse and there is a run on the banks... will it make sense to have cash in a coffee can buried in the yard? Will cash money be worth the paper it was printed on at that point?

And please don't bring gold into this. You still need cash to pay for day to day items/unexpected bills/etc.

Bank at the bank or bank at home?
 Quoting: Anonymous Coward 1286718


Are you stacking green op ?, and where do you live scheming
Anonymous Coward
User ID: 1428084
Canada
06/14/2011 01:05 PM
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Re: Is it wise to keep cash stashed away vs. in a bank?
Yes, but keep it well hidden so it cannot be stolen. If you have it buried THEY do not know how much you have.
DaveGillie

User ID: 1006412
United States
06/14/2011 01:18 PM
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Re: Is it wise to keep cash stashed away vs. in a bank?
Run on banks is no worry now that money is DIGITAL
(think about it)

BUT money being digital, means if you do not have CASH ON HAND when if power goes down for any reason, you are SOL!!!

Use your own judgement on how much and WHERE it would be SAFE
www.DaveGillie.com
Anonymous Coward
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Germany
06/14/2011 01:23 PM
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Re: Is it wise to keep cash stashed away vs. in a bank?
.


Except for a couple of thousand for emergencies,
it's best to keep cash in an FDIC insured bank account.



.
 Quoting: AlasBabylon


Yes, there was a case of some South American soccer player here (this was still at D-Mark times), he wanted to get payed cash only and as he didn't trust the banks, he bricked all the cash in a wall at home. When he was about to leave most of it was rotten!
Paypal
User ID: 795737
Canada
06/14/2011 01:25 PM
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Re: Is it wise to keep cash stashed away vs. in a bank?
Cash won't matter when TSHTF.

Gold and Silver people.....
Anonymous Coward
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United States
06/14/2011 01:34 PM
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Re: Is it wise to keep cash stashed away vs. in a bank?
the law is that banks dont have to give you your money for at least 30 days. If the grid or the puters go down, you wont get a penny out of them. When business resumes you may not have any residual value or available product.
It's a balance, but since youre not getting any interest now, and they may not choose to give you access to your funds for weeks, someplace secret, secure and fireproof is a good idea for at least a months worth of funds.
Understand they have to depopulate significantly to deal with increasing demands for social benefits to be provided and need greater safety to confiscate property and expand their new empire.
The dollar bill be going down and there will be no official convertability, the only way you can get the new currency is dealings with and service to the new royalty.
Anonymous Coward
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Canada
06/14/2011 01:48 PM
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Re: Is it wise to keep cash stashed away vs. in a bank?
The value of your money will change regardless of where you hide it if you have it in the bank you may at least get some interest growth but again you will also be helping the bank get richer but if the dolor collapses all you will have is useless paper and would not matter where it is ether though you will have quick access too your money so you can bug out before its too late. If you are concerned about a crash and your money being worthless and gold would be worthless as trade for the most part anyways try and think of things that would be highly valuable in such a situation like
Clean water, medical supplise, SALT, Battery's just too name a few. Gold and cash would be useless for trade if the shtf until a new money system takes root.

Regardless do what works now and prepare as best you can
Anonymous Coward
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06/14/2011 04:43 PM
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Re: Is it wise to keep cash stashed away vs. in a bank?
There is an idea of at least keeping a lot of small bills in cash on hand in case of emergency, so you can give exact change to buy food if computers go down for some reason. It might help things keep going to do this in an emergency, folks having small bills on hand to keep commerce alive until the next solution.
DaveGillie

User ID: 1006412
United States
06/14/2011 06:31 PM
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Re: Is it wise to keep cash stashed away vs. in a bank?
Cash won't matter when TSHTF.

Gold and Silver people.....
 Quoting: Paypal 795737



no matter how bad the SHTF scenario,

there ALWAYS is a WINDOW of time (sure it may be very small) where people with CASH already ON HAND will make out very well buying stuff!
www.DaveGillie.com

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