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Sure. If you want to buy a pad Thai in Thailand, US dollars are probably going to be more widely accepted. On the other hand, if you have savings in an inflatin

Sure. If you want to buy a pad Thai in Thailand, US dollars are probably going to be more widely accepted. On the other hand, if you have savings in an inflating currency, you might want to convert them to a medium that holds value well in the long term, rather than US dollars. That does include S&P500 stocks but those are not bearer instruments and not easily accessible, especially in foreign countries.

ericmay 3y ago
Well you can sell the stock and convert it into dollars and then use those. That's something I can do easily today if I wanted regardless of the country I'm in so long as I have the Internet and an ATM. Gold you can't travel with (weight and loss due to theft and also probably actually illegal) and is also not accessible, and Bitcoin you can't buy a coffee with. Other available crypto currencies just do worse jobs than Bitcoin or dollars at their respective functions. The key here is to understand that monetary instruments have pros/cons. Dollars have the con that they aren't a great store of value (and this is by design). Dollars have the pro that they are widely accepted, hold their value in the short term (i.e. not volatile), and are highly liquid. Bitcoin has the pro that it's a great store of value, but has cons like inability to transact. Stocks are liquid but volatile, etc.
- unusualmonkey 3y ago
  Bitcoin claims to be a great store of value, but is terrible at it. Seriously look at the last 10 year chart of Bitcoin vs USD (or if you want purchasing power) - its far, far too volatile to be a store of value.
- olalonde 3y ago
  > That's something I can do easily today if I wanted regardless of the country I'm in so long as I have the Internet and an ATM. That's not the case for most people in most countries. There are billions of people who are not even able to open a bank account, let alone a US stock brokerage account. Bitcoin and gold are way more accessible to the average person. I agree that every instrument has a different set of tradeoffs though.
  - mikhailfranco 3y ago
    KYC/AML has made this much worse (on purpose - limit access to financial services without any real effect on terrorism or money laundering). Your bank knows you, perhaps for many years. Then you move country, or lose your phone, and suddenly they have forgotten you, and you face an uphill nightmare to retain your old accounts. A share certificate should be a bearer asset, but it is not accepted anywhere outside the original jurisdiction (e.g. EEA for UK/European shares).
- landemva 3y ago
  > Gold you can't travel with (weight and loss due to theft and also probably actually illegal) Which country? Last week I travelled on planes in USA and may have carried 35 pounds of silver coin, about a pound of gold coin, and >$10k cash. No problems other than being careful putting bag in overhead bin. Travelling in/out of countries like Turkey with metal in carry-on has always been easy. One time the screener was curious and wanted to see some coin, but no problem. Diversified bearer instruments are a prudent way to proceed into the coming government chaos in next ten years. > Well you can sell the stock and convert it into dollars How well did that work the entire week after 9/11?
  - ericmay 3y ago
    Yea I read the Sovereign Citizen too
  - dredmorbius 3y ago
    There are numerous countries with controls over money entering or, more often, leaving the territory. This can apply to cash, gold, or other valuables. The issue generally falls under the general realm of customs regulations though also capital controls. Domestic travel generally as fewer, and often (but not always) no limits. Risks of seizure, forfeiture, and outright theft should also be considered. It's generally recommended to not check valuables. Shipping valuables as insured cargo is another option.
    - landemva 3y ago
      > Risks of seizure That happens with account balances in USA. Try to fight an account seizure after the fact in courts in USA, and be prepared to lose. Tangible items including metal are diversification, and bitcoin and ethereum are incredible across borders.
      - addicted 3y ago
        Currency is currency. Assets are assets. Claiming that an asset is better than a currency because it’s better at what assets are supposed to do and currencies are explicitly not supposed to do is strange to say the least.
- landemva 3y ago
  > internet and atm Power and ATMs were out for two weeks on Puerto Rico, which is basically run by the USA. Maybe keep a couple weeks of cash under the mattress. https://www.cnn.com/2022/10/01/us/hurricane-fiona-puerto-rico-electrical-grid/index.html https://www.cnn.com/2022/10/01/us/hurricane-fiona-puerto-ric...

ericmay 3y ago

Well you can sell the stock and convert it into dollars and then use those. That's something I can do easily today if I wanted regardless of the country I'm in so long as I have the Internet and an ATM. Gold you can't travel with (weight and loss due to theft and also probably actually illegal) and is also not accessible, and Bitcoin you can't buy a coffee with. Other available crypto currencies just do worse jobs than Bitcoin or dollars at their respective functions. The key here is to understand that monetary instruments have pros/cons. Dollars have the con that they aren't a great store of value (and this is by design). Dollars have the pro that they are widely accepted, hold their value in the short term (i.e. not volatile), and are highly liquid. Bitcoin has the pro that it's a great store of value, but has cons like inability to transact. Stocks are liquid but volatile, etc.

unusualmonkey 3y ago
Bitcoin claims to be a great store of value, but is terrible at it. Seriously look at the last 10 year chart of Bitcoin vs USD (or if you want purchasing power) - its far, far too volatile to be a store of value.
olalonde 3y ago
> That's something I can do easily today if I wanted regardless of the country I'm in so long as I have the Internet and an ATM. That's not the case for most people in most countries. There are billions of people who are not even able to open a bank account, let alone a US stock brokerage account. Bitcoin and gold are way more accessible to the average person. I agree that every instrument has a different set of tradeoffs though.
- mikhailfranco 3y ago
  KYC/AML has made this much worse (on purpose - limit access to financial services without any real effect on terrorism or money laundering). Your bank knows you, perhaps for many years. Then you move country, or lose your phone, and suddenly they have forgotten you, and you face an uphill nightmare to retain your old accounts. A share certificate should be a bearer asset, but it is not accepted anywhere outside the original jurisdiction (e.g. EEA for UK/European shares).
landemva 3y ago
> Gold you can't travel with (weight and loss due to theft and also probably actually illegal) Which country? Last week I travelled on planes in USA and may have carried 35 pounds of silver coin, about a pound of gold coin, and >$10k cash. No problems other than being careful putting bag in overhead bin. Travelling in/out of countries like Turkey with metal in carry-on has always been easy. One time the screener was curious and wanted to see some coin, but no problem. Diversified bearer instruments are a prudent way to proceed into the coming government chaos in next ten years. > Well you can sell the stock and convert it into dollars How well did that work the entire week after 9/11?
- ericmay 3y ago
  Yea I read the Sovereign Citizen too
- dredmorbius 3y ago
  There are numerous countries with controls over money entering or, more often, leaving the territory. This can apply to cash, gold, or other valuables. The issue generally falls under the general realm of customs regulations though also capital controls. Domestic travel generally as fewer, and often (but not always) no limits. Risks of seizure, forfeiture, and outright theft should also be considered. It's generally recommended to not check valuables. Shipping valuables as insured cargo is another option.
  - landemva 3y ago
    > Risks of seizure That happens with account balances in USA. Try to fight an account seizure after the fact in courts in USA, and be prepared to lose. Tangible items including metal are diversification, and bitcoin and ethereum are incredible across borders.
    - addicted 3y ago
      Currency is currency. Assets are assets. Claiming that an asset is better than a currency because it’s better at what assets are supposed to do and currencies are explicitly not supposed to do is strange to say the least.
landemva 3y ago
> internet and atm Power and ATMs were out for two weeks on Puerto Rico, which is basically run by the USA. Maybe keep a couple weeks of cash under the mattress. https://www.cnn.com/2022/10/01/us/hurricane-fiona-puerto-rico-electrical-grid/index.html https://www.cnn.com/2022/10/01/us/hurricane-fiona-puerto-ric...