15 down... the rest to go.
Moral of this story? Make sure you have enough cash on hand in your house this week-end to buy needed gas, groceries and meds for a week or two. Don't count on ATMs to be refilled in a bank emergency. Keep your gas tanks full and don't run low on groceries right now. This is just to cushion you from the inconvenience of not being able to access your money for a week or so. If the $U.S. falls it will be sudden, but they will quickly have a new system up. After the first week or so things will seem normal. It's only over the long-term that we'll start to understand.
For example, I've lost $70,000 in the stock market lately. I wasn't planning on using that money this week so it doesn't affect me right now. But... $70,000. What does the loss of that mean to my retirement? My ability to get medical help in old age? My ability to help my children start a business? I've lost a year's labor of our family (so far) and it WILL have consequences.
This is what's going on at a macroeconomic level. If they revalue the currency and cut it, say, in half then everyone has suddenly lost half their stored wealth. It WILL ripple through everything.
For example, I've lost $70,000 in the stock market lately. I wasn't planning on using that money this week so it doesn't affect me right now. But... $70,000. What does the loss of that mean to my retirement? My ability to get medical help in old age? My ability to help my children start a business? I've lost a year's labor of our family (so far) and it WILL have consequences.
This is what's going on at a macroeconomic level. If they revalue the currency and cut it, say, in half then everyone has suddenly lost half their stored wealth. It WILL ripple through everything.