'My father has been in cash for years. He was about to go in at 2009 but for whatever reason he didn't. This time he says he wont make the same mistake. He keeps saying "winter is coming" lol. Im 25% exposted to the stock market with the remainder in cash."
If we have a massive GFC or whatever we will call it in the near future -
cash could very well go out the door.
If I felt a major GFC was either imminent or coming - there is no way I would feel safe in cash only - indeed - I would count any cash holdings as lost. Of course I would be hoping that they survived - but, I still would count them as gone.
Cash is an invention. It is a fantasy that is only agreed to by everyone who uses it - it can be swept aside with the stroke of a pen - it can also be seized by authorities - as can anything.
If I was so convinced of such a major catastrophe - I would certainly have at least a portion of wealth for protection in something with a lot longer history than cash - and I would make sure that it was small enough to transport and hide.
