One of the most important lessons is that the bank shutdowns happen not long before the climax of the crisis. They are always positioned as temporary, designed to cool off a bank run.
There was ample warning in Greece. I don’t think we will get such warnings in the US, so one must be vigilant.
When the banks reopen, most if not all of the deposited assets will be gone.
What would have preserved wealth during the crisis? Oddly enough, stocks and foreign bonds. This was exactly the case during the German and Hungarian hyperinflations, the British devaluation in 1967, the US inflation crisis, and the Argentina collapse.
If a war breaks out, however, stocks and foreign bonds could be among the worst investments...
“What would have preserved wealth during the crisis? Oddly enough, stocks and foreign bonds. This was exactly the case during the German and Hungarian hyperinflations, the British devaluation in 1967, the US inflation crisis, and the Argentina collapse.
If a war breaks out, however, stocks and foreign bonds could be among the worst investments...”
Did the stock market keep pace with the Weimar hyperinflation?
I figure I’m screwed, no matter what. I have some investments for inflation, some for a deflation. Either way, I’ll lose half. If we have hyperinflation followed by a depression, I lose it all.
That’s what the garden and chickens are for. ;(
The Greeks had plenty of warning. Crazy that everyone didn't deplete their bank accounts months ago when they could. It was also obvious their safe deposit boxes would be the next to go so they should have emptied them long ago and invested in whatever personal protection items they could, buy a shovel, food stuffs and lots of tp. Next on the confiscation list will be pensions and retirement funds.