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Bonner County presenter urges households and community to plan for systemwide financial disruptions
Summary
At a Bonner County Civil Defense Resilience Team meeting, presenter Aza Gadsden described how "systemic" financial events can disrupt banks, stores and supply chains, and urged local preparation focused on skills, local production and alternative monies such as gold and silver.
Aza Gadsden, presenter with the Bonner County Civil Defense Resilience Team, told a community meeting that individuals and local governments should plan for “systemic” financial disruptions that can shut banks, close shops and break supply chains.
Gadsden, who described two decades in global finance, said the difference between idiosyncratic risks (problems affecting one person or business) and systemic risks (events that affect everyone at once) requires different preparation. “When the poop hits the fan,” he said, “you can’t prepare for a systemic event the way you prepare for an individual event.”
The presentation centered on how monetary and distribution networks can stop functioning in a systemic crisis — examples Gadsden cited included the Sept. 11, 2001 attacks and the COVID-19 pandemic — and what individuals and communities can do to remain…
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