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The Vietnamese have flocked to more reliable stores of value.
But, when the confidence underlying fiat currencies falters folks resort to recognizable and reliable stores of value and it's not that hard to manage in such a world.
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Entrepreneurs need money that is a meaningful unit of account and a reliable store of value.
"I had always thought this was a reliable store," she said.
Brazil's real may over time develop as a reliable store of value.
Few hundreds are actually found in consumer wallets; instead of passing quickly from hand to hand, they tend to be held as a reliable store of value.
For doomsayers, gold is the only reliable store of wealth as paper and electronic currencies make their weary way to debasement.
So if the dollar continues to fall, China may wish to switch to a more reliable store of value and unit of account.
But as Buttonwood noted two weeks ago (see article), gold can itself be the subject of speculative excess, as it was in 1980: any asset that takes 28 years to reclaim its peak is hardly a reliable store of value.
But if you buy from a reliable store, like Target, Wegmans or Whole Foods, which have adopted seafood-sustainability practices far more effectively than many other major retailers, or consult online sources like the Monterey Bay Aquarium, you can eat white-fleshed fish without guilt.
Amid the chaos, prudent Latvians grew potatoes and stockpiled anything that could be found in the shops.The lat symbolised the opposite: it would be a reliable store of value for a real economy, sturdy and independent like the pre-war republic.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com