Mike Maloney posted a very interesting video including an interview with a Puerto Rican resident. Listening to Mike's guest, you can learn how to prepare for the disaster scenario und survive it.
here are the hightlights:
Cryptocurrencies/ digital money: Due to the lack of power and internet people did not have access to their "digital assets". Credit cards also did not work.
ATMs:Many of them did not work. Even if some worked - people could only withdraw $ 50 per day.
In other words, if you did not have any cash or tangible assets, you were in deep ... problems.
So what are "disaster assets":
I have to laugh, when I hear some people saying that if a financial crisis hits, people will remain calm like during the Great Depression. I have some news for you - even during the Great Depression people did not stay calm, there were riots (e.g. the veterans' march in Washington D.C.).
Further, people go nuts in the course of the Black Friday shopping. Will these people remain calm when a disaster hits? I do not count on that.
Long story short: Hope for the best, but prepare for the worst.
