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To: Sam Gamgee

Truthfully, at home liquidity is the way to go. Safes have been selling as well as guns and ammo, on the interesting theory that virtual money might become worthless for any number of reasons, but the small amount of physical legal tender Greenbacks in the economy (about 4% and falling) will still be accepted currency even if the virtual currency blows up.

That is, vendors can demand paper and coin, or no sale. And because there is so little of it, its value may skyrocket, just like it did at the onset of the Great Depression.

“You could buy a pound of hamburger for a nickel, but nobody had any nickels”, was the saying, but it includes a tacit axiom, that those who had a lot of nickels made out like bandits. And there were some.

Banks failed and had holidays from 3 to 300 days long. But some people had a lot of cash at home, and, albeit more discreetly than in the Roaring ‘20’s, were able to live the good life while the economy floundered.


23 posted on 09/04/2014 11:30:28 AM PDT by yefragetuwrabrumuy ("Don't compare me to the almighty, compare me to the alternative." -Obama, 09-24-11)
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To: yefragetuwrabrumuy

So where is all the money that everyone is yelling about being printed? Is it all over the world except here? Was it in the banks that ISIS now control and how does our economic fall today with our currency being the basis of other economies compare to what happened in the last depression? Obviously I do not know anything about money except to get paid and pay bills.


24 posted on 09/04/2014 3:08:25 PM PDT by huldah1776
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