I just had this realization that if this unlikely event were to happen, I would lose most of my networth. forget SPIC or FDIC, the US would not be able to payoff those debts because a depression and gigantic budge deficits would be likely, treasury rates would soar. Even if the insurance held, the dollar would disappear because printing the cash would be the only way to keep the system afloat so the recovery would be cents on the dollar. My dollar hedges would be worthless because oanda doesnt have insurance and they are based in NY
That's why it's good to spread your assets across different countries. E.g. have 30% in foreign safe havens like Switzerland, UK, Singapore. I have about 50% of my net worth outside my own country. It's not just a nuke you have to worry about. More likely is capital controls or other legislation.
Exactly why I use a broker not in NYC and why I am starting to trade forex with exchanges outside the USA. Call it contingency planning. Not if, but when.
yeah, he is in all the history books. i read a book about unicorns when i was six, i wonder why they arent in any other historical documents either?
If something like that were to happen, I think you'd have much bigger things to worry about. I'd be too preoccupied with finding guns, ammunition, and my next meal to be worried about some worthless paper.