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Fiat minimalism

Discussion in 'Ask Jack' started by Christine Renner, May 10, 2021.

  1. I am not sure if there is a smart way to ask this.

    Given the eminent hyperinflation scenario, is there a rule of thumb about how much fiat to keep on hand for the very short term? Assuming a person is already a btc or gbtc maximalist and has food and water covered for a number of months.

    I'm anticipating the probable answer is "none." But practically speaking, is none a literal zero, or is it a certain number of months of typical non food and water expenses? Or something else?

    And whereabouts is "on hand", given this scenario?

    Thanks.
     
  2. JanSz

    JanSz Gold

    Whatever you do keep track of your spending.
    I have a number of credit cards and other bills, but eventually, all is paid and recorded in my checking account.
    upload_2021-5-10_13-47-10.png
     
    Christine Renner likes this.
  3. JanSz

    JanSz Gold

    When I was in Brazil 1979-1980, there was hyperinflation in Brazil.
    Brazilians would buy US$ from us for their estimated weekly expenses.
    Americans would buy Cruseiros for their estimated weekly expenses.

    //////////
     
    Christine Renner likes this.
  4. I think it depends on revenue, debt load, responsibility and commitment, age, tax, lifestyle. The important concept is that the emergency fund is just a bridge to a new and uncertain future if the shit hits the fan, not to provide money into perpetuity. Our minds prepare us for uncertainties.
     
  5. I think what I'm getting at is whether there's a reason to do anything extra or different with what one typically keeps in the emergency fund at the present moment.
     
  6. In other words, leave even less where it might currently be, and put it somewhere else. And if somewhere else, whereabouts might that somewhere be?
     
  7. caroline

    caroline Moderator

    good questions.....
     
    Christine Renner likes this.
  8. caroline

    caroline Moderator

    I really don't know what to be stockpiling.

    We have done the obvious things like coffee and tea and water and good salt.

    We don't eat canned goods but I guess I should re consider that.

    What should I add to my list?

    cans of tomatoes
    cans of salmon and sardines
    cans of oysters
    pork and beans???
    spam? [oddly - I like spam :confused:]
    rice?
     
    Christine Renner likes this.
  9. We keep our eyes out for what's on sale and add in then.

    This week it has been sardines and water. For example, Wild planet brand sardines are currently on sale at (west of Mississippi/US) Natural Grocers for $1.99 a can and cases of Mountain Valley H2O for $21.45/12.

    Other ideas: Canned tomatoes, salmon, beans, oysters, tuna. Madras and Masala in pouches. Coconut oil, coconut butter. Cacao butter. Ghee. Dark Chocolate. Walnuts, macadamias. Shelf stable smoked meats like salami.

    I recently saw that Wild planet has added pouches of cooked beef to their line-up of canned fish and fish pouches.
     
    Last edited: May 10, 2021
    caroline likes this.
  10. JanSz

    JanSz Gold

    Sprats (smoked and in oil) I ate it when 4 years old (1940) from a barrel that was taller than me. Got in a fight with a Russian boy about those sprats. His mother told my mother that if this happens again she is going to send both of us to Siberia. (When Russians are fighting the war, that is no joke, the whole family fights. (Respect). American soldiers are fighting with both hands behind their backs (thank you, politicians).
    Sardines
    Herrings (filets add olive in and finely chopped onion).
    -------------
    I love sprats and herrings.
    Not really crazy about sardines.
    [​IMG]

    In-store they are less expensive than thru Amazon.

    ..
     
    Last edited: May 10, 2021
    caroline and Christine Renner like this.
  11. caroline

    caroline Moderator

    I really struggle with sardines ....I am more likely to chug down a fish head smoothy :D
     
    Christine Renner likes this.
  12. That's so funny. I couldn't eat them for at least a year so I can relate. But I like them as long as they have the bones and skin and are relatively plain. My pup is also a fan. ‍
     
    caroline likes this.

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