Do you advise holding emergency cash?

[lrm21]

With the continued shadow run, the likely

http://www.collegenews.com/index.php?/article/wachovia_freezes_93_billion_college_fund_15923/

the possibility of a nationwide freeze or cap on bank withdraws is increasing by the day I would say from less the 1% 2 weeks ago to 5% now.

Anyone setting up emergency cash on hand, maybe 10% of cash holding.

I would imagine many people are similar to topping off the tank before the hurricane hits.

I dont see a complete freeze, but definetly the likehood of a short-term turbelence is very high.

The $700 billion will be a drop in the ocean right now.

 

[nutmeg]

What percent of your holding is are purely cash in a non-financial institution?

I'm not quite sure. I have my penny wrappers ready and can roll them at a moments notice.

 

[jeb9999]

Who still uses cash? Cash is so 20th century.

Just use plastic for everything.

 

[Ticketwatcher]

Robert Blake taught us all the importance of holding cash outside the system of paper trails.

Sometimes problems come up.

It becomes very very expensive and time consuming using lawyers and when all is done the problem may not be taken care of.

Sometimes, the best solution is seek a cold cash solution.

In that case, simply pay "the man" with cash, got out and have yourself a nice dinner and the source of your troubles will be terminated.

 

[jsv416]

I went and got about 3 months of cash to live on just in case the shit reallly hits the fan. I can always put it back in my money market fund when things settle down. Better safe than sorry imo...

 

[stevegee58]

Quote from jsv416:

I went and got about 3 months of cash to live on just in case the shit reallly hits the fan. I can always put it back in my money market fund when things settle down. Better safe than sorry imo...

Cash as in greenbacks? Hopefully you're not keeping it in a safe deposit box at a bank.

 

[bozwood]

Quote from stevegee58:

Cash as in greenbacks? Hopefully you're not keeping it in a safe deposit box at a bank.

curious, why not?

 

[u21c3f6]

Do you count EE bonds as cash?

 

[Compulsive]

Quote from jeb9999:

Who still uses cash? Cash is so 20th century.

Just use plastic for everything.

Bro cash still KING....where else can a man gets his noodle wet for $25 bucks? Cash! or where else can man gets his dime bag or 5 rocks with CC?...:eek:

 

[dandxg]

I have some money outside the bank, I am not going to disclose where. No where near 10%. Look if there is a melt down the US will just print more money, inflate that's it. So no matter where it's going to lose value unless the rest of the central banks inflate too, which I believe they are. If there is a bank holiday there will be some adjustments made for ppl. that can't get money to pay their bills. This won't happen IMO as the US got rid of M-3 so they could print at will and they will.