What's a Good "Doomsday Currency"?
A reader named Marcus Kalka writes:
I have a weird question, but a good one. With all the talk about the value of the U.S. dollar falling and the U.S. dollar losing its status as the world’s reserve currency, I am curious to know your guys’ thoughts on what possible temporary alternative currency you believe would be the most optimal for us here in America in a hypothetical future doomsday scenario — i.e., what one should stock a lot of in his or her basement in the event of a [heaven forbid] total financial meltdown? Historically, cigarettes, alcohol, candy, and even packs of mackerel have been used as a bartering commodity currency where cash is not as useful or cannot be used. And so, my question for you is this: From an economic standpoint, which item do you think would make the most ideal “doomsday currency” in the U.S. for this time period? Perhaps cigarettes or wine? Gold or silver coins? Cans of tuna? Baseball cards? Bottles of water? Any thoughts? And any ideas on a potential makeshift currency sign?
Tough one. How about … gems (the old standby), cell phones, iPads, SIM cards, incandescent light bulbs, toolboxes, running shoes …