Famed French Microbiologist Louis Pasteur once said that “fortune favors the prepared mind”. When the topic of the apocalypse comes up, this quote definitely holds water. If you’re truly wise, you’ll endeavor to build self-sufficient homes, stock up on necessary supplies, and research on potential scenarios to find out what else you may need. One of these scenarios often touches the topic of economics and finances. A common enough question that comes up for a lot of preppers is, what value will money hold when the world, as you know it, comes to an end?
The Present Value of Money
The value of the money or currency that you carry largely affects what you can purchase like groceries or gas. It affects what sort of preparations you can do to your homestead as well. In the world’s present state, money is both goods and a method of exchange that is heavily determined by economic demand. This economical demand is greatly determined by society as a whole on what we deem is valuable like goods and services. The money will only retain its value as long as we collectively decide it is worth what we get for it.
So as of present-day standards, society puts a lot of stock in things that have a high monetary value like oil, valuable currencies (Kuwait Dinar and Bahraini Dinar), and even intangible things like intellectual property and patents. It’s not surprising that the idea that a single moment would render all of these irrelevant terrifies the masses. If you want to prepare for doomsday scenario being able to discern the difference between what’s valuable now and what’s valuable in an SHTF event is crucial.
After a Collapse
In an SHTF scenario, the value of tradable forms like coins, paper, gold, and others will suddenly come into question. Everyone who’s ever laid eyes on a movie like Mad Max or Waterworld will know that everyday things that a taken for granted end up the most valuable. When people are scrambling to grab whatever supplies they can get, no one really stops to think about the current exchange rate, how much they’ve got stowed away in banks, or even the value of any stocks they’ve invested. An end of the world scenario flips the switch on what people will consider valuable and what is acceptable currency.
People who make it a point to review and practice end game scenarios should have a good idea of what things go first. After a collapse of polite society, there are certain items that will disappear in the blink of an eye like bottled water, cooking oil, charcoal, and even the contents of the frozen meat section in groceries. It is during this chaotic time that people tend to panic and grab the things that they think will help them survive.
The New Currency
65.5% of Americans have begun to stockpile what they think they need in the event of a natural or political collapse. If you are one of them, the earlier you realize that money can become completely useless the better. It is generally understood that those who do not have their own supplies will have to consider a trade or barter to obtain goods. So what exactly do you use to trade?
Popular belief would put stock in things that people take for granted like spices, sugar, salt, and even tissue paper. Entertainment will remain to be in demand so things like books, paper, pencils, and even crayons increases in value. Necessities like shoes, gas, and clean water will heighten in value as these can be difficult to come by in an emergency situation. It also stands to reason that certain items that are considered vices, like alcohol or cigarettes, will be highly valuable as well. Other basic things that will skyrocket in value will be candles, sewing kits, socks, and blankets. Things can help build fires like matches and lighters can be viable options for currency–especially if you are able to start fires naturally because of your survival skills.
Items like lumber will be an effective bartering tool as it will be used for staying warm, cooking, and even building shelter. An end of the world scenario will still see certain things maintain their value like livestock. These will continue to be tradable goods–especially ones which breed quickly and are edible like rabbits. The basics are generally considered the best forms of new currency after the endgame event. Methods and items to protect yourself with will also be extremely valuable when the time comes. While guns and ammo are good forms of currency, they’re not exactly something you’ll want to trade. Always remember that while you’re thinking of new forms of currency, there are certain things that should never be let go.
Things you Shouldn’t Treat as Currency
While there is a drive up of things that can be considered new currency, there will be things that are much too important to trade or be used as currency. Things like medicine should be guarded well. In the end days, there is no telling if more pharmaceutical drugs will be produced. Items that can help you obtain intelligence on the developing situation like radios should not be up for trade or sale. Your source of food and clean water should be guarded because your life will quite literally depend on it. When you’re assessing what are non-negotiable and which are acceptable forms of currency, it will all boil down to what you can feasibly survive without. If trading a few pounds of salt or certain pieces of livestock will not affect your survival as a whole, only then will it be considered good forms of currency on your end.
In preparation for the end times, it is important to note that economics will continue to play an integral part in society. When you have what you need, this saves you from being in the position of bartering something truly precious in exchange for basic necessities. Continuously re-evaluating the supposed value of money is always good practice when you want to shore up your survival in difficult times.