We have read in the last few days, that the world’s billionaires are buying up a lot of gold bars and now, that they are hoarding cash. We add to that: “He wo has eyes to see, let him see.”
In 1933, President Roosevelt closed the failing banks for a “bank holiday” that left a lot of people scrambling. In 2008 President Bush covered the failing banks with Fed cash via the “TARP” program; he didn’t therefore have to close them. But next time, since we’ve already overused that gambit, it won’t be available. So the availability of banking shouldn’t be taken for granted these days as the billionaires are, by example, advertising.
It is beginning to seem wise to have some cash on hand, a couple of weeks’ worth at tleast. Unadvertised, of course in these days of home invasions. Given that we can’t expect to earn any useful…
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