A visualization of the worlds money & financial nightmares .

[MJB]

Overreacting. Relax.

Since I stopped watching the news , I'm happier. Nothing but doom and gloom , which sells.

Anything important then someone will tell me , but as for all these "the end is nigh" stories....no thanks.

I stopped watching the news and reading about it a couple years ago and I am much better for it. Who cares what a footy player gets payed or that someone saved a cat......most the news these days is absolute trash. When you stop listening to all the dribble you become free from todays issues and enjoy each day as it is....another day in paradise

 

[Outback]

get debt free as soon as possible

Yep ' & buy real assets with your fiat money whilst it's still excepted

How does that work exactly? Obviously gold would be useless for the purpose considering the tiny amount in existence relative to everything else. And when the crash occurs and most people are broke, are they going to buy that house, car or jewellery asset that you have put your money into? If no one else has money to buy, their prices will crash. Their value, like a fiat currency, will be artificial in the short term, perhaps not so bad in the long term (obviously those with something physical at least have a potential asset in the longer term or you can barter my can of petrol for your eggs....).

And how many people buy a house on the spot...no, they get a loan in a fiat currency.

Newstart? What broke government has Newstart.?

There don't seem to be simple answers.....

Sorry for the late reply , was not sure how to respond to your question .
Maybe this recent video will help answer some questions ?

https://youtu.be/iBJ3IDVsFT8

 

[user 4386]

$80 billion, 800,000 oz - these are tiny amounts in the grand scheme of things.

 

[Outback]

Yes that seems correct goldierrocks , when fair value finds the exchange rate of real money against today's worthless debt ridden rotten play money we all should hold some Gold / Silver or other forms of sort after valuable products & items :Y:

 

[Heatho]

Alcohol, food, weapons and medical supplies such as antibiotics will be worth way more than gold when the SHTF. I suspect that war with China will most likely breakout before the worlds financial markets and currencies go totally belly up.

The thing with these financial doom reporters is that maybe one day they will be right but they rarely ever are. The sub prime crisis in America was truly one that caught most off guard, some knew it was coming but not many. I actually thought that was going to happen when my dad and I were watching TV and the news report was that American cash interest rates had dropped to zero, that was the first sign things were going to get ugly.

Our Aussie banks have just restricted lending of money now, hopefully that it's the end of cheap money and that interest rates finally start climbing again. The banks for too long were lending way too much at too low an interest rate and property went through the roof, anyway things are certainly slowing now, especially in Sydney. Property in my area more than doubled in value in the past 10 years, it's edged back slightly now.

War in the South China Sea is likely our biggest concern right now.

 

[user 4386]

Yes that seems correct goldierrocks , when fair value finds the exchange rate of real money against today's worthless debt ridden rotten play money we all should hold some Gold / Silver or other forms of sort after valuable products & items :Y:

I have no problem with holding some gold among other assets (cash, stocks and real estate). Right now I would certainly think some gold desirable. Silver is dubious - it is a by-product, and a commodity rather than a store of wealth (we have produced less gold than world demand for many years, silver just comes from lead and zinc mining and can be readily increased at any time to meet demand I suspect).

The apocalypse has been predicted as long as I can remember so ultimately pessimists will prove right, although I doubt at the catastrophic levels predicted. As for wars, I hope not. Not convinced that China is the biggest military threat (a lot of that depends on a country's philosophy - the Australian and Russian economies are similar in size but Russia emphasizes arms). More concerned by smaller rogue states...

Much to be said for just keeping a balance and being optimistic and happy - you also might be knocked down by a bus or get brain cancer tomorrow (far more likely), in which case undue concern over world economies becomes a bit irrelevant.