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> However, as someone who lived through this and experienced it first hand, I stopped trusting cash from that day onwards. I carry just enough with me to get by
by cesarb 8y ago
> However, as someone who lived through this and experienced it first hand, I stopped trusting cash from that day onwards. I carry just enough with me to get by for couple of days.
I suppose you leave the rest in a bank account. That won't help if all bank accounts are frozen, as I lived through in the early 90s here in Brazil (we called it "Confisco da Poupança", see https://pt.wikipedia.org/wiki/Plano_Collor#Medidas_do_Plano_Collor_I https://pt.wikipedia.org/wiki/Plano_Collor#Medidas_do_Plano_...).
- yholio 8y agoA country willing to destroy it's hard currency would have absolutely no problem seizing the bank accounts of it's citizens. So these types of events are not really arguments for or against cash, it's all dumb luck if you get to keep one or the other. In stable countries with a functional rule of law however, bank credit is seriously inferior to cash for all purposes except convenience and security.