If you take out cash before all banks collapse

If you take out cash before all banks collapse

What will happen to your cash at hand after all the banks shut down for good?

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The down side is they will probably be worthless.

The plus side is you now have a lot of toilet paper.

If you can, buy some gold and silver. Silver coins would be easier to trade with than gold ingots for example. Gold holds value but it’s not very liquid of an asset to be used in these situations. I would just hold on to some for when it’s over.

If we are getting real dark here. Buy out medicine and food. Both can be traded and will be worth more than anything else. Toilet paper will be a luxury commodity as well.

And guns and ammo. To protect your stuff and if it comes to it…raiding other people is an option for survival.

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i’ll give you 5 dollars for one sheet of tp

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Bingo on both points.

In the last three days, food, water and any baby related stuff has been high priority. During the 2009 recession, Tide was a high commodity.

Another opportunity for Taiwan to show the rest of the world how it’s done right here. Have all the banks close at 3:30 p.m., and make everything take ages. They’d already planned for this years ago.

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What on earth does banks collapsing have to do with “living in Taiwan”?

Hope you guys out there are doing OK.

Guy

Not much as all accounts are insured and Taiwan has mechanisms in place against a bank run. Plus banks are swimming in cash and collateral. Heck we have mountains of gold in the hills of Xindian.

If you guys want to see the difficulties faced in a catastrophic event taking place in a society where things are not solved by shooting, go watch Survival Family. It’s a Japanese movie.

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I’ve been searching to watch that movie since I saw the trailer last year.

With global stock markets plunging, investors have sought the safety of cash. U.S. money market funds experienced $87.6 billion of inflows in the seven days prior to Wednesday, according to Lipper. Bank of America reported that last week investors plowed a total of $136.9 billion into cash.

What if it’s made of polymer? :thinking:

Is there an official limit on that? I mean like up to $x per account or per person?

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And guns and ammo. To protect your stuff and if it comes to it…raiding other people is an option for survival.

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Whatever happened to “help thy neighbour”?

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is this a serious enquiry? really?

Maybe it’s time for you to take a break from the internet for a while. Go have a beer, talk to a friend, anything except worry about stuff like this. If it happened, what could you really do anyway?

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Eventually the cash will flow back in and we will be fine.

Well the article was more about corporations raising cash asap right now. Which makes sense as seeing no one knows how long it’s going to on.

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Fortunately in Taiwan I think the government has the power to put a stop on bank runs. There was one in maybe 1997 and so they brought in a law. Or maybe I’m making this up. Anybody?

Taiwan will be fine though, Europe not so much.

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3 million if I recall correctly, for immediate backup.

Yes, we have laws and mechanisms and funds and plenty of $$$ against bank runs.

They will run out of toilet paper before they run out of money, and then we can use the bills for ya know…