Another wasted day. Still waiting. Still "rearranging the deck chairs on the Titanic." My only social contacts have been my homeless buddy and Kevin, the burly homeless guy. As I stated previously, there's not much difference between the homeless and so-called "regular" people. I am beginning to look forward to the day that I have no social contacts. Sheesh!
I ate dinner and dessert, delicious sandwich and an ice cream cone at the usual outlets in Kahala, at the start of my evening outing. I have vowed to only patronize establishments that provide good service and quality products. Then, I was off to the bookstore.
Well, there have recently been a lot of articles about bank depositor confiscation (read: "bail in"). It's quite an interesting concept. Yet, few people realize that, if such a scenario were to transpire, even fewer people will be left unscathed. Pension funds, money market funds, insurance annuities, credit unions, and local banks are all unsecured depositors of the infamous "too big to fail" zombie banks. When the "shit hits the fan," those deposits will be confiscated.
In the confiscation scenario, we will not have to worry about hyperinflation. Money will simply vanish, but not into thin air. Instead, there will be an instantaneous upward transfer of wealth to the "one percent." What is even more stupefying is that the localized aggregate economies will remain somewhat stable. Sure, the rank-and-file peons will be suffering. However, for those people who have money left, it will be business as usual. Stupefying. How can we, as peons, circumvent the crisis? Gold bullion, my friends.
Cash (i.e., fiat currency) would also suffice, given that there is no hyperinflation. Keeping cash on hand when deposits are being confiscated is seemingly prudent. Obviously, the disadvantage would be the requirements for safe storage and protection. In any case, my guess is that there will be adequate warning before the crisis erupts.
That brings me to "condotel" post-divestiture period. Once I have reconciled the transaction, then I will seriously consider the purchase and storage of gold bullion as well as a cache of cash. The procurement of a quality safe and a 9mm semi-automatic are other considerations. So, there we go, more distractions to impede the exodus.
On a side note, both my homeless buddy and Kevin are continually trying to persuade me to apply for residency at the Next Step homeless shelter. I have been coached on exactly what must and must not be said (or documented) in order to assure my matriculation into true homelessness. For now, the homeless question remains unanswered.