Re:The money I saved as a child would buy one picogram of go...
by skinnymuch on Thursday April 21, 2022 @11:09AM
(#31110448)
As krisoft said. In such an unprecedented and extreme situation, foreign currencies would likely not mean much either. The world is globalized. America defaulting on such a huge thing would likely bring down most of the world’s economies and currencies. Possibly some isolated countries would fare better. They’d still be effected like crazy too, but they’d be something.
Yes assets like land would help. However with banks failing like this, someone with more guns and aggression than you or I could come to our homes and take them from us in areas where LEO are not being paid and thus not doing anything.
With the failing banks and such, tracking down who owns what will be much more difficult when things get better. Changing failing bank documents can’t be the hardest thing in this situation.
It's a common occurence u developing countries, people hedge against it by holding foreign currencies and tangiable assets like land. Its not that rare for people to live through multiple devaluations and currency collapses. Ofcourse you don't go around telling people about tour wealth