Hi Wattie
From your posts it seems you are quite convinced of an impending financial Armageddon and total melt down of the current financial and political systems. How have you protected yourself and loved ones from the likely impact? Have you gone as far as making physical preparations for such an event? I.e. storing food and planning a safe place to hide out whilst the civil unrest unfolds? I assume you have done more than invest in gold. You are clearly more informed than most so keen to understand what plans I should be making. Thanks
Well my idea of financial Armageddon may be different from yours.
I see the situation where populations in parts of the world will wake up and discover they have limited access to their saving/bank deposits to prevent bank runs. Money in a bank is the banks property,NOT YOURS and most people dont recognise this!
Banks are no longer trustworthy- indeed they have become criminal organisations beyond the law. Look at all the scandals they have been involved in, yet no-one has been jailed.
Indeed I witnessed and lived through a bank deposit confiscation in Cyprus during the GFC. Fortunately, I saw it coming and moved money out of the country prior to it.
A daily allowance was given, large transfers banned along with international transfers above the daily allowance
Coincidentally,
ZeroHedge - On a long enough timeline, the survival rate for everyone drops to zero
www.zerohedge.com
So I invest in physical precious metals (this gives me the legal ownership), vaulted worldwide, beyond the banking system and indeed i hold some at home. I also keep minimal cash in the bank and hold cash at home. I invest in hard assets ie property in different countries and hold multiple currencies for flexibility. I have minimal debt- 12% of assets.
I take an interest in financial matters and what’s going on so I can prepare. I read
www.zerohedge.com and suggest everyone does.
My idea of Armageddon doesn’t involve the breakdown of society. Most people don’t have a clue what’s going on and the central bankers/politicians will spin it so they still don’t......and they will accept the situation -like they did in Cyprus.
An example of this is Trump claiming the Us economy is the strongest it’s ever been, then he criticizes the Fed for not lowering interest rates enough and he demands they start more money printing.
Look at what he said before he was president.
Its now at 26000 and is totally reliant on new Fed easing or it will collapse!
This would not be needed in a strong economy.
Trumps trying to fool Americans that the massively overvalued Stockmarket (a wealth effect which the Fed has already admitted back in 2016, around the17,600 Dow level, consistant with Trumps statement)
) is a sign the economies good. It isn’t and if the Fed doesn’t do it and reduce rates it will crash! The US stock markets are another Ponzi scheme with the fed providing the new money to keep it going! Look at how the markets reacted in December when the Fed threatened to take the punchbowl away....and last week at the disappointment of no QE and a less than expected rate cut.
Economists/analyst/ traders/ news organisations/ bankers/politiciams must ALL know this but no-one says it!
Given the above I don’t store food and in the society breakdown situation frankly you need a gun and to be prepared to use it. I don’t, I wouldn’t be and in that scenario I’m not sure I’d wanna be around anyway. It would be tribal and a horrible environment to live in.
The above , like the GFC, affects one type of individual. Savers, who have worked hard and done the right thing. They will be the ones bailing out society. I’m doing everything I can to have control of my assets..... I'm not gonna give it to bankers and i'm not gonna be fooled by politicians.
Debtors, have nothing to lose.
Central banks in New Zealand, India and Thailand all announced larger-than-expected cuts to interest rates on Wednesday.
www.cnbc.com
There is nothing surprising at all.......Something is VERY VERY wrong!
You've just got to look around you and be willing to see it and if you have an advisor who is not telling you this get a new one!!
The former GLG global macro hedge-fund co-manager, who was among the few investors that predicted and profited amid the 2008 financial crisis, told...
www.marketwatch.com