You’re Crazy Not to Have Some Cash

Email Print

…on hand. Maybe you’re not ready to unbank – I certainly am not. As Cyprus shows, however, we live in a world where the government can put your funds in lockdown, indefinitely, with no notice. Think you’ll just get by with your credit card? Nope. As the New York Times notes: “It’s been cash-only here for three days,” said Ali Wissom, the manager at Il Forno di Jenny’s restaurant off Cyprus’s main square in Nicosia. “The banks have closed, we don’t really know if they will reopen, and all of our suppliers are demanding cash — even the beer company.”

Banks have been closed for over a week. Do you have enough cash on hand to buy gas, food, and other essentials for a week? Two weeks? Most of the preppers reading this are smiling, since they have these commodities and cash on hand already. Even in a major “End of the World” style collapse, cash will be accepted by many people for a few days until the new reality sets in. In a minor disaster, such as Cyprus, having cash on hand will help you sleep better at night knowing you can feed yourself and your family, gas up the car, and potentially get out of Dodge if need be.

8:10 am on March 26, 2013