Since nothing fails like prayer, we are doomed.

Maybe there is good market for an alternative that doesnt require electricity and the internet to function. One day there will be an EMP or some financial disaster right here in the USA that WE SHOULD PREPARE FOR NOW.

I can see the need for a new product. It would be a device which would allow you to put a good sized amount of cash in a box that one could type in a number and out would come the cash with a print out showing what was taken and what was left. It would come with a hiding device which would make it look like an inexpensive piece of furniture or nick-nack. I'd call it the Stash-O-Cash Device.

The Nobel in economics, same as the peace prize, has administration separate from the science Nobels.

General rule- anything mainstream economists advocate must be bad.

The economy of India did improve under PM Modi, he is a bit more free market than his predecessors who supervised a stagnant statist bureaucratic morass.

I've been yanging about this for quite a while now.

Thank you AJ for bringing the issue back from the "Shadows" and into the light.

Well written. I keep a modest amount of silver rounds in my safe. Some cash may be in order too.

Well, I really hope that a cashless world (or nation, in this country) never comes to pass. But
with statists and irrationalists getting as much power
as they have been, who knows?

Reminds me of one of our vacations in Kihei Hawaii, a few solid days of rain, flooding, and no power. The market stayed open only to cash customers and the help took people around with flashlights to look mostly at empty shelves. I can only imagine what it must be like after a major disaster. Meet was on sale as it \was approaching the DNS (DoNotSell) timeline. We lucked out as the condo had gas grills outside, even though we had to wait in line. We should all think about how prepared we might be today to deal with these kinds of issues. A windstorm put us nine days prior to Christmas without power once, it seemed like a lifetime. Santa came and plugged us back into the grid at about 11:00 PM on Christmas Eve.

"Cashless" isn't necessarily silver-less or gold-less--although I suppose it is for most people these days. Most people (say 90 percent or more) are essentially already both silver-less and gold-less.

My own thought is that government will amazingly find a way to turn "cashless-ness" into Weimer-Republic style hyperinflation--even in the midst of complete, semi-permanent grid failure that makes electronic financial transactions impossible.

I'm sure that after a momentary panic phase they will find generators to power the printing presses, even if they have to run them by candlelight and impressed labor.

I just do not buy it. Cash is worthless and refuse to believe that people aren't smart enough to figure out a new barter system. Or use gems or precious metals or whatever they need to trade with one another. I like Ron Paul, but sometimes he needs to think outside the box. The only people who will have a problem are the ones who do not know how to earn or survive for themselves and I have not sympathy for them. (I am talking about adults.)

So, what is the COST of protecting us from an EMP? (Bury and Shield our power lines, Transformers)?

Assume 100 Million Electric Customers paying a monthly bill. Lets assume it will cost $1 Billion a month for 36 months to do this.

WITHOUT any fancy financing. this is like $10/month surcharge on the electric bills we pay.

And it would be one of the largest private infrastructure project ever. No government.

Finally, LOCAL and SHOVEL READY jobs.

Economic Driver. Start after each hurricane :-)

Here is a great piece on this issue
Titled The #1 risk to the Earth
You will see the recreation of the "Carington event"
https://youtu.be/VVgUZv9ccyQ

Far more dangerous than the power going out is the ability of the government to enforce its command and control strategy. With an electronic system down why couldn't the store's immediately issue contracts for their goods to be filled when the system is back on line? A contract could have the clause that if you fail to pay immediately when able charges will apply like any other unfulfilled contract.

All it might take is an EMP, from the sun or any nuclear fool, to plunge half this planet into darkness along with all the side-effects. Nobody gets a choice about any of that. All humanity becomes virtually helpless. Such fun!

Thaler gives me great confidence in the statist bias of Nobel prize judges.