The Great Depression Ii?

[Mission]

Diamonds are where it's at now.

 

I'm off to Jurby to make a deal with the space dudes to plan a trip to the diamond planet.

[Matt Bawden]

i could never understand golds intrinsic value, i mean what use is it really, might aswell just have a limited number of shiny beads.

i mean so what if some dastardly bankers ended up with all the worlds gold, what use would it be to them, not as if people would go short of shiny jewelry.

 

the only thing about gold that i can see is it cant be faked.

 

This should explain all you need to know

 

http://www.youtube.com/watch?v=Dc3sKwwAaCU&feature=related

[Lxxx]

Are we within days/weeks of a complete financial meltdown? Time to learn Mandarin?

我们都注定死於贫困。 ... but obesity levels will continue to rise, beer, fags and ipods will still outsell fresh vegetables, books and getting out in the fresh air for some exercise.

 

Its always a bit dangerous wondering what the future will hold - but I've a feeling we are more robust than many people claim - sure there's been the oil shock, stagflation, Thatcher's cuts, Major's bust, the Asian financial crisis, the tech crash, the bank crash and now the lingering hangover of the various debt crises, but have things really been so terrible overall over the last 40 odd years?

 

I don't discount the huge hardship the unemployed etc face - but for the vast majority that is a temporary burden and for those not so burdened I don't think people will face terrible suffering if the TV doesn't get replaced quite as quickly, the cars, on average, are a few years older and that easter holiday in the sun gets cancelled.

 

For me the mindset of taking on too much debt, often to pander for materialistic treats rather than necessities, wasn't economically or socially healthy.

 

Maybe the slowdown will be a chance for society to think what its priorities are.

 

Material destitution does exist, but I suspect the bigger problem is people placing their happiness in excessive materialism.

 

Measure your wealth through your lack of wants, not material things, and understand how society and culture nurtures your wants via advertizing and social pressures.

 

In the 1930s people starved, now we face an obesity epidemic and rising deaths from diebeties etc - both are symptoms of serious problems within society, but I'm not convinced that our problems currently are totally economic - I feel we face more serious political and cultural problems.

 

Obviously they are interlinked, but over a 40 year time span, I'm not that worried about Europe's debt, or Barclay's liquidity - rather its how to get people being useful members of society, satisfied with their lot.

 

China has brought, and will bring, lots of opportunities, but also changes - the massive hardwork the ordinary people have put in to uplift themselves, in the face of political oppression, corruption, and a misdirected communist rhetoric is really something to inspire - but its also a wake up call - there's no free ride in this world.

 

Has the west been living on the never never while the east has laboured - probably, but I don't think that needs to bring total disaster on us - rather a change in mindset. C'est la Vivre!

 

 

I think it's a mathematical certainty that we are in for a financial tsunami, all it needs is a trigger to see the dominoes start to fall. Greece will more than likely default soon, bringing down the French and some German banks, America will reach it's debt ceiling (again!) soon so we'll then see the printing presses coming out with QE3, then QE4 etc.... as that's all they know how to do, print more funny money. Eventially the dollar will default as this cannot go on forever, and if the world's reserve currency goes down it will bring with it all the rest of the fiat currencies as people wonder what's going on around them.

 

Now is a time for people to be prudent and start to reverse the excesses of yesteryear, which will of course send the economies evern further down as people stop spending and start paying off debt.

 

It's all a mess, and the sooner we have the collapse the better.

[Slim]

 

I think it's a mathematical certainty that we are in for a financial tsunami, all it needs is a trigger to see the dominoes start to fall. Greece will more than likely default soon, bringing down the French and some German banks, America will reach it's debt ceiling (again!) soon so we'll then see the printing presses coming out with QE3, then QE4 etc.... as that's all they know how to do, print more funny money. Eventially the dollar will default as this cannot go on forever, and if the world's reserve currency goes down it will bring with it all the rest of the fiat currencies as people wonder what's going on around them.

 

 

 

If it's a certainty, as you say, it should be easy to prove. Go ahead.

[Lxxx]

 

I think it's a mathematical certainty that we are in for a financial tsunami, all it needs is a trigger to see the dominoes start to fall. Greece will more than likely default soon, bringing down the French and some German banks, America will reach it's debt ceiling (again!) soon so we'll then see the printing presses coming out with QE3, then QE4 etc.... as that's all they know how to do, print more funny money. Eventially the dollar will default as this cannot go on forever, and if the world's reserve currency goes down it will bring with it all the rest of the fiat currencies as people wonder what's going on around them.

 

 

 

If it's a certainty, as you say, it should be easy to prove. Go ahead.

 

 

You can't prove something that hasn't happened.

 

It doesn't take a rocket scientist to see we have a massive sovereign debt crisis at the moment, with countries going cap in hand to the IMF (or being financially raped, whichever way you look at it) on a regular basis. Debt levels are so far ahead of GDP that they are unrecoverable. This then leads onto a global banking crisis as every international bank, without exception, has exposure to government bonds/gilts in some way, shape or form. All it takes is one country to default, probably Greece, to then see the dominoes start to fall as one bank after another gets caught up in the writing down of losses, and as they are all so intrinsically interlinked this is unavoidable.

 

So in summary we have a soverign debt crisis and a global banking crisis leading to an internatioanl monetary crisis. A perfect storm. People can either choose to carry on watching Eastenders and think it won't affect them or they can plan for it. Of course this is just my opinion, people should do their own research and come to their own conclusions. I've done mine.

[Slim]

You can't prove something that hasn't happened.

 

So it's not a certainty then?

 

It doesn't take a rocket scientist to see we have a massive sovereign debt crisis at the moment, with countries going cap in hand to the IMF (or being financially raped, whichever way you look at it) on a regular basis. Debt levels are so far ahead of GDP that they are unrecoverable. This then leads onto a global banking crisis as every international bank, without exception, has exposure to government bonds/gilts in some way, shape or form. All it takes is one country to default, probably Greece, to then see the dominoes start to fall as one bank after another gets caught up in the writing down of losses, and as they are all so intrinsically interlinked this is unavoidable.

 

You started off well, but then got a bit frothy around the lips towards the end. Yes, there's a debt crisis, yes that's bad, that's what 'crisis' means. Unavoidable failure on the scale you suggest isn't inevitable however.

 

So in summary we have a soverign debt crisis and a global banking crisis leading to an internatioanl monetary crisis. A perfect storm. People can either choose to carry on watching Eastenders and think it won't affect them or they can plan for it. Of course this is just my opinion, people should do their own research and come to their own conclusions. I've done mine.

 

What have you done?

[Ringwraith]

As the manipulation of the COMEX unravels further, silver looks good, as it has been for the past 10 years for anyone invested in it.

 

[Cambon]

It doesn't take a rocket scientist to see we have a massive sovereign debt crisis at the moment, with countries going cap in hand to the IMF (or being financially raped, whichever way you look at it) on a regular basis. Debt levels are so far ahead of GDP that they are unrecoverable. This then leads onto a global banking crisis as every international bank, without exception, has exposure to government bonds/gilts in some way, shape or form. All it takes is one country to default, probably Greece, to then see the dominoes start to fall as one bank after another gets caught up in the writing down of losses, and as they are all so intrinsically interlinked this is unavoidable.

 

So when it gets to the point that greece tanks, and all european countries get together and absorb greeces unmanageable debts and then kick them out of the Euro, how will that make the banks collapse?

[GD4ELI]

It doesn't take a rocket scientist to see we have a massive sovereign debt crisis at the moment, with countries going cap in hand to the IMF (or being financially raped, whichever way you look at it) on a regular basis. Debt levels are so far ahead of GDP that they are unrecoverable. This then leads onto a global banking crisis as every international bank, without exception, has exposure to government bonds/gilts in some way, shape or form. All it takes is one country to default, probably Greece, to then see the dominoes start to fall as one bank after another gets caught up in the writing down of losses, and as they are all so intrinsically interlinked this is unavoidable.

 

So when it gets to the point that greece tanks, and all european countries get together and absorb greeces unmanageable debts and then kick them out of the Euro, how will that make the banks collapse?

 

There's is no guarantee or indeed expectation that other members of the eurozone will absorb Greece's current debts, that's why the rates on Greek debt are so high.

 

Banks with high exposure are at great risk.

 

Mattress time.

[Lxxx]

You can't prove something that hasn't happened.

 

So it's not a certainty then?

 

 

 

It doesn't take a rocket scientist to see we have a massive sovereign debt crisis at the moment, with countries going cap in hand to the IMF (or being financially raped, whichever way you look at it) on a regular basis. Debt levels are so far ahead of GDP that they are unrecoverable. This then leads onto a global banking crisis as every international bank, without exception, has exposure to government bonds/gilts in some way, shape or form. All it takes is one country to default, probably Greece, to then see the dominoes start to fall as one bank after another gets caught up in the writing down of losses, and as they are all so intrinsically interlinked this is unavoidable.

 

You started off well, but then got a bit frothy around the lips towards the end. Yes, there's a debt crisis, yes that's bad, that's what 'crisis' means. Unavoidable failure on the scale you suggest isn't inevitable however.

 

 

 

So in summary we have a soverign debt crisis and a global banking crisis leading to an internatioanl monetary crisis. A perfect storm. People can either choose to carry on watching Eastenders and think it won't affect them or they can plan for it. Of course this is just my opinion, people should do their own research and come to their own conclusions. I've done mine.

 

What have you done?

 

 

Well unless they can come up with some more names for numbers as we're already into the trillions of currency of debt, per country. I suppose they could always keep printing fake money, which I'm sure they will do to keep kicking the can down the road for a little while longer yet, which will then make the 'money' in your pocket worth less and less and less every time they crank up the presses. But in the end, yes, it's a certainty that they can only do that for so long before the debt becomes stratospheric and completely unmanageable.

 

We must beg to differ on whether a crisis is inevitable or not.

 

I've made my provisions so I'm as least exposed as possible to their global ponzi scheme, with no mortgage, credit cards, loans, pension, shares, stocks, digital money in nice 'safe' bank accounts. But this isn't about 'look what I've done', if people want to do nothing and think things will all blow over then that's fine, doesn't affect me does it?

[Cambon]

I've made my provisions so I'm as least exposed as possible to their global ponzi scheme, with no mortgage, credit cards, loans, pension, shares, stocks, digital money in nice 'safe' bank accounts. But this isn't about 'look what I've done', if people want to do nothing and think things will all blow over then that's fine, doesn't affect me does it?

 

When the gold bubble bursts it will be spectacularly fast. $1000+ in a day. This nearly happened a week or so ago, but someone managed to stoke the "Greece problem" a bit more and keep the price up.

 

Your model works both ways. At the moment, the western world is inflating it's way out of debt. This will carry on for a good bit yet. However, when the bulls attack the market, be warned!!! The answer is diversification to cover all basis. Ignore stocks at your perril!

[pongo]

I've made my provisions so I'm as least exposed as possible to their global ponzi scheme, with no mortgage, credit cards, loans, pension, shares, stocks, digital money in nice 'safe' bank accounts.

 

If you believe that money will be utterly devalued then surely you would be better to be maxed out on renegotiable short term debt -> or at least as many credit cards as possible paid off every month. You could surely make good use of that money buying more and more gold.

 

And if the whole system really is going down, as you have predicted on one of the other threads, then why not max out on debt in general - and invest all of the money in gold and other treasure.

[Lxxx]

I've made my provisions so I'm as least exposed as possible to their global ponzi scheme, with no mortgage, credit cards, loans, pension, shares, stocks, digital money in nice 'safe' bank accounts. But this isn't about 'look what I've done', if people want to do nothing and think things will all blow over then that's fine, doesn't affect me does it?

 

When the gold bubble bursts it will be spectacularly fast. $1000+ in a day. This nearly happened a week or so ago, but someone managed to stoke the "Greece problem" a bit more and keep the price up.

 

Your model works both ways. At the moment, the western world is inflating it's way out of debt. This will carry on for a good bit yet. However, when the bulls attack the market, be warned!!! The answer is diversification to cover all basis. Ignore stocks at your perril!

 

This isn't about me trying to be smart, it's about me having people rely on me to put a roof over their head and, in my opinion, I think we're in for very difficult times ahead so if I pay down as much debt as possible, leaving as much available income during times of high inflation, then I'm comfortable with that. If the sh*t really doesn't hit the fan then I've lost nothing by doing that.

 

I don't necessarily agree on diversification, it's a catch all phrase financial advisors use to talk away the fact they're going to lose their clients some money in some areas, and hopefully gain it back in others. I much prefer to fully research myself and put my chips on the areas I think seem the best bet, as opposed to spreading it around and accepting that I'll lose some of it.

[Lxxx]

I've made my provisions so I'm as least exposed as possible to their global ponzi scheme, with no mortgage, credit cards, loans, pension, shares, stocks, digital money in nice 'safe' bank accounts.

 

If you believe that money will be utterly devalued then surely you would be better to be maxed out on renegotiable short term debt -> or at least as many credit cards as possible paid off every month. You could surely make good use of that money buying more and more gold.

 

And if the whole system really is going down, as you have predicted on one of the other threads, then why not max out on debt in general - and invest all of the money in gold and other treasure.

 

I did just that, took out credit cards two years ago to buy gold and silver, and with the increase in price was able to pay them off reasonably quickly.

 

I never said the system is going down, I said we're in for a massive international financial crisis, certainly in the western world. Trade still needs to function, we still need commercial exchange, but we are approaching the biggest wealth transfer in history, with the middle classes the ones most leveraged with debt, bearing the brunt.

[pauld]

 

 

This isn't about me trying to be smart, it's about me having people rely on me to put a roof over their head and, in my opinion, I think we're in for very difficult times ahead so if I pay down as much debt as possible, leaving as much available income during times of high inflation, then I'm comfortable with that. If the sh*t really doesn't hit the fan then I've lost nothing by doing that.

 

I don't necessarily agree on diversification, it's a catch all phrase financial advisors use to talk away the fact they're going to lose their clients some money in some areas, and hopefully gain it back in others. I much prefer to fully research myself and put my chips on the areas I think seem the best bet, as opposed to spreading it around and accepting that I'll lose some of it.

 

 

stick a new roof on now over their heads numbnutz, then relax.