Not long ago, saw someone on one of the prepper forums praising BitCoins as being the payment of the future. Personally, don’t even know what a bitcoin is, but in the SHTF world, don’t think we’re going to be using it much. Still, this person was going on about how much they had increased in value and were worth the investment. Not long after that, saw bitcoin had been “devalued” by several billion dollars and that person did not post any comments
Once upon a time, before there was currency, there was barter. and in our SHTF preps, we are encouraged to put away barter items like booze and ammo and . .
But back when there was barter, there were times when person A needed something and person B, who had that something, didn’t want anything that person A could offer. Now what? And so money was born. Not as value of its own, but as a neutral item of barter.
A couple of years ago, saw we had a local barter group spring up (think I posted about this then, and wonder what happened to those folks?) who created their own script for that same purpose. If you did this – like yard work for an elder – then you got so much in script. and when you needed help painting your bedroom, you traded in that script for some one’s labor. The idea being this was sort of “undeclared income”. Unfortunately, the IRS does not accept that idea and you have to prove you gave equally for what you received. Same for businesses. Anyway . . .
It still ends up being money. And cash money is something we already understand.
So when the SHTF, you will still be using money once the dust settles and people get back into the idea that you cannot be all things unto yourself and not everyone wants what you have to offer in trade. And the guy who has decided he controls the lumber yard isn’t going to let you in to take some wood based on handing him a dozen eggs.
AND, if it is just a SHTF event, like a hurricane or tornado, you will need that cash when you no longer have a job, the bank is finding reasons to hold on to your money because they know you don’t have a job and there are mortgage payments due, and you need to buy food, etc. And with interest rates so low, “saving” money in the bank isn’t really doing you anything but letting “them” know how much you have!
So as you go back to the idea of burying your money in sealed mason jars in the back yard, or stuffing your mattress, make sure you have plenty of small bills and change. When you have to barter for that dozen eggs with cash, they aren’t going to have change of a $100!