What are the chances of a complete financial meltdown?

[Conno]

Ever wondered why one of the most basic life skills is not taught in schools? With debt comes control. 

[Leaver]

7 minutes ago, Conno said:

Ever wondered why one of the most basic life skills is not taught in schools? With debt comes control. 

Perhaps greed is an inherent human trait after all.  ????

[Conno]

I agree, therefore combining the inherent human trait of greed with the lack of wealth management education leads to the debt prison the majority find themselves in today.  Many would avoid those mistakes if it was included in the basic schooling curriculum but sadly I feel by design it rarely is. Some people are beyond help though, even if provided with all the education in the world. The very people that then look at the successful with envy. It's one F up planet.

Edited April 10, 2020 by Conno

[Lacessit]

1 hour ago, Conno said:

bkk6060 Your definition of inflation is only partially correct. Rising wages are a symptom not a cause. Fundamentally inflation is a result of the debasement of national fiat currencies by Central Banks hand in hand with Governments. Prices rise due to currencies having reduced purchasing power. What you are describing and seeing up to now is deflationary effects and low currency velocity. Trust me inflation or even hyper-inflation is just around the corner and when it arrives if you study history and other examples of when this occurred it will happen fast. Keep your eye on the Canary in the mine, Gold and Silver bullion. Not the paper versions of the same which are also rigged, but the physical market which is already selling at a premium above spot, if you can even find any of course.

Interesting all the gold shops in Thailand have been shut, which tends to support your post.

[Lacessit]

42 minutes ago, Leaver said:

And that would be a lot of Thai's, in the near future.

 

https://thethaiger.com/hot-news/economy/thai-household-debt-hits-all-time-high-of-340k-baht-per-house

Many Thais do not understand debt. It's taken me several years to persuade my Thai GF debt is bad, to be avoided.

[Conno]

As the saying goes, better to be 5 years too early than 1 day too late. 

 

In my experience very few Thais understand debt or even the basics of wealth management. Not all but many as there are exceptions to every rule. Notice I never say money management, currencies are not money they are debt certificates or IOU's in other words.  Only Gold and Silver are true money.  Potentially Bitcoin could come close as its Stock-to-Flow ratio will shortly equal Golds after this upcoming halving event. The halving after that in 2024 BTCs Stock-to-Flow ratio will be the highest of any asset in human history. If you don't understand what a Stock-to-Flow ratio is I suggest looking it up. A good search would be "Plan B Stock-to-Flow ratio explained". 

Edited April 10, 2020 by Conno

[Conno]

If anyone would like to educate themselves a great way would be to watch Mike Maloney's "Hidden Secrets of Money" series. It comprises of 10 episodes and gives you an understanding of the financial system that not 1 in 1000 fully comprehend. 

 

You are all in lock-down house arrest so why not put that time to some constructive use ???? 

 

 

[Conno]

Here is his most recent video posted only 21 hours ago if you want the latest update.

 

The question the original thread author asked was "What are the chances of a complete financial meltdown". The way things are unfolding behind the scene, with most distracted by "Virus Hysteria"  the answer to that question is VERY HIGH. 

 

[Leaver]

20 minutes ago, Conno said:

If anyone would like to educate themselves a great way would be to watch Mike Maloney's "Hidden Secrets of Money" series. It comprises of 10 episodes and gives you an understanding of the financial system that not 1 in 1000 fully comprehend. 

 

You are all in lock-down house arrest so why not put that time to some constructive use

But my Thai wife says buying land in Issan and growing cucumbers is a good investment.  Why should I listen to these guys when my wife is Thai, and we live in Thailand?  ???? ????

[Conno]

Buying land and growing cucumbers is a great idea. It's a real asset with a real use. Just make sure she doesn't bump you off after handing over the cash. If that comes to pass it would have been a lousy investment........for you. 

[Leaver]

6 minutes ago, Conno said:

If that comes to pass it would have been a lousy investment........for you. 

So would actually having a Thai wife.  ????

[ianezy0]

Geez, I visited this site for some light relief from all the doom and gloom. There are some serious doomsday naysayers here.

 

Can anyone provide me with a link where I can buy one of these cash printing thingies?

 

 

[jabis]

9 hours ago, rupert the bear said:

an interesting perspective,imo its hard to say,gov everywheres messed this up big time,all the free money in the west has to be paid for,that means devaluation of the currency firstly.tax next.in cyprus a few yrs ago accs were frozen and 10% taken out dont put that past them,in the depresssion USA outlawed holding gold personally and stole t from people that had it.i do feel the govts have now realised the people must go back to work for several reasons and that will limit the fall out,immunity is greater than 1st thought and few people die  less than 0.5% so 99.5% of us move on .the victims are 80% plus very old and infirmed.that realisations setting in.

Currently the fatality rate sits at 6% deaths of confirmed cases, so if this rate continues, we could be looking at 456 000 000 deaths looking at world population of 7.6 billion people - if everyone just catches it once and spread keeps on going exponentially like it does now. 

[Conno]

ianezy0 - A doomsday naysayer would surely be a person that is not talking about doom and gloom rather than a person who is? 

 

naysayer

/ˈneɪˌseɪə/

noun

 

1. a person who criticizes, objects to, or opposes something.

   "he continues to win, despite the many naysayers"

    

   In answer to your second question here is your link.  https://www.federalreserve.gov/

Edited April 10, 2020 by Conno
spelling

[Leaver]

44 minutes ago, ianezy0 said:

Geez, I visited this site for some light relief from all the doom and gloom. There are some serious doomsday naysayers here.

 

Can anyone provide me with a link where I can buy one of these cash printing thingies?

 

 

Are you growing cucumbers or rubber?  Don't be shy.  You can say.   ????

 

Edited April 10, 2020 by Leaver

[ianezy0]

6 hours ago, Conno said:

ianezy0 - A doomsday naysayer would surely be a person that is not talking about doom and gloom rather than a person who is? 

 

naysayer

/ˈneɪˌseɪə/

noun

 

1. a person who criticizes, objects to, or opposes something.

   "he continues to win, despite the many naysayers"

    

   In answer to your second question here is your link.  https://www.federalreserve.gov/

From a humerous side, I will stick with my use of the word Naysayer, i.e. Someone on TV trying to be positive, whilst there are many more naysayers who prefer to spread doom and gloom ????

As the subtext sentence below: he continues to win, despite the many naysayers???

Cheers and I am still seeking that printing machine!

[Canuck1966]

12 hours ago, InfinityandBeyond said:

Just reading on another thread a woman from Chaiyapum also tested positive again after being released from hospital in BKK. This is far from over. 

That's a load of <deleted>, just a relapse. 

Edited April 10, 2020 by Canuck1966

[Canuck1966]

deflation is going to be more of a concern

[AlexRich]

People like Jim Rickards and Peter Schiff are predicting financial meltdowns every month ... and like a stopped clock they will get it right sometimes. I think we’re in for a sharp and deep recession, 16 million additional unemployed in the US in a matter of weeks, many companies not operating, some may never recover. The market has rebounded strongly but companies and governments have yet to provide updates on the economic damage. When they do I’d expect the markets to fall hard. No recovery until 2021 at the earliest.

Edited April 11, 2020 by AlexRich

[Vigilante]

I would, kind of, reverse the question

What are the chances of a financiel 'reset'?

Probably proportionally the same as a meltdown.

If they don't reset a bankrupt system now, they'll never will.

Unique opportunity.

Not that the new one will be any better but it will have a clean 'sheet'.

 

[Matzzon]

What are the chances of a complete financial meltdown?

 

Let´s just be realistic, and say: 0

[TopDeadSenter]

1 hour ago, Matzzon said:

What are the chances of a complete financial meltdown?

 

Let´s just be realistic, and say: 0

A month ago I would have said complete financial armageddon is almost guaranteed. Now I consider that was a mistake. Why? Because the FED and all central banks will not allow it to happen. They will keep providing stimulus for as long and as much as it takes to maintain liquidity and normality across markets. It's only national debt! I'm hoping for a 30-50% pullback from here but not expecting to see it materialize. 

[elgenon]

When all these people die the rest of us will get their wealth. so we will all be much better off!

 

That's my theory and i'm sticking to it. 8 ^)

[Deli]

 Looks like almost all of us are f*** with, no Vaseline, only sand. The rich stay rich, the middle class and below will sink

[Krataiboy]

18 hours ago, Leaver said:

Investors from ll around the world will be flocking to Thai banks because their deposit is guaranteed up to 5 million baht.   ????????

Only up until August this year.

[Dazinoz]

15 hours ago, BritManToo said:

All these doom-sayers have never managed to predict anything in the past, why would one of them be right now?

Do some research on Jim Rickards, he has supposedly predicted a lot in the past.

[Krataiboy]

15 hours ago, BritManToo said:

It's unlikely because all the countries are in the same sinking boat.

If it were just one country with the problem, that country would be in deep trouble.

 

All these doom-sayers have never managed to predict anything in the past, why would one of them be right now?

Actually, a lot of Wall Street watchers (not sure if Rickards was one of them) did predict the 2008 financial meltdown. Trouble was, the corporate-controlled mass media predictably derided them as - yes, that's right, doomsayers - to delay the inevitable overheated stock markets' collapse as long as possible.

 

The world economy is beginning to unwind dangerously as already-indebted governments conjure digital money out of thin air to fight the pandemic, which some believe is part of a globalist plot to reset the financial system.

 

Time will tell. Meanwhile, one thing is certain: the repercussions of COVID on all our lives will continue long after it has stopped making banner headlines in the mass media..

 

 

Edited April 11, 2020 by Krataiboy

[soalbundy]

My normal situation, why should I worry.

[Enzian]

Gentlemen, the classic definition of inflation is too much money chasing too few goods, and it still holds. Wage levels are secondary. "Goods" can include labor, and there is the crux. Globalization has provided access to cheap labor beyond our earlier imagination. This will eventually smooth out, but it could take a couple of centuries. Central banks providing liquidity from helicopters should cause inflation, but the supply of cheap goods to chase is still phenomenal, and by keeping interest rates close to zero they defeat their own attempts to ramp up inflation. So there should be inflation, but when? (But pure asset inflation is another matter, too complex for here.)

A meltdown is when a significant number cannot meet their calls. So the struggle in the US today is for the Fed to provide liquidity while the politicians try to get over the hump and get everyone back to work. I detest those who say the Republicans are trying to kill people, but it might work out that way if we have to accept a couple of hundred thousand deaths to get everyone back at work. Then no meltdown.

[Snow Leopard]

16 hours ago, BritManToo said:

It's unlikely because all the countries are in the same sinking boat.

If it were just one country with the problem, that country would be in deep trouble.

 

All these doom-sayers have never managed to predict anything in the past, why would one of them be right now?

Sorry to say you are wrong. The problem is the US and the US$ and this has knock on effects to every currency.