When Our Money Dies

[Old Curmudgeon]

When Our Money Dies

 

Our money is dying: Dollars, Pounds, Euros, Loonies, Shekels, Rand; all of it.

Here's a health chart:

 

 

 

Health chart is US Dollars, but similar decline for all Western currencies.

 

I'm not worried about me dying.

What worries me is my money dies before I do.

Bank account will still have some numbers.

Pension will transfer in every month.

But won't buy much of anything here.

Or anywhere.

 

Among my fellow Americans, a "last ditch" job for oldsters is working as a "greeter" at Walmart.

Big-C doesn't have greeters.

Retired expats can't work anywhere here.

Not even poke-poke sohm-dtam at a little market stall.

So, as our fiat money dies, buying less and less of life's little necessities -- like food -- what will expats do?

 

Comments and critique welcome.

 

 

[UWEB]

17 minutes ago, Old Curmudgeon said:

When Our Money Dies

 

Our money is dying: Dollars, Pounds, Euros, Loonies, Shekels, Rand; all of it.

Here's a health chart:

 

 

 

Health chart is US Dollars, but similar decline for all Western currencies.

 

I'm not worried about me dying.

What worries me is my money dies before I do.

Bank account will still have some numbers.

Pension will transfer in every month.

But won't buy much of anything here.

Or anywhere.

 

Among my fellow Americans, a "last ditch" job for oldsters is working as a "greeter" at Walmart.

Big-C doesn't have greeters.

Retired expats can't work anywhere here.

Not even poke-poke sohm-dtam at a little market stall.

So, as our fiat money dies, buying less and less of life's little necessities -- like food -- what will expats do?

 

Comments and critique welcome.

 

 

May be start learning how to post a Graph in the right way?

[Old Curmudgeon]

9 minutes ago, UWEB said:

May be start learning how to post a Graph in the right way?

 

It IS the right way !!

Took a bit of effort to make it like that.

Think about it.

If still un-clear, ask here.

I or someone else will explain to you.

Edited October 27 by Old Curmudgeon

[Smokin Joe]

[Old Curmudgeon]

Sorry, @Smokin Joe, I appreciate your effort, but the original post is the correct presentation for money dying.

 

This topic is about money dying before we old expats die.

The funny chart is merely a visual indicator of that.

The chart isn't the topic.

Edited October 27 by Old Curmudgeon

[Chris Daley]

Yes control of money and products is part of most totalitarian regimes.  Slowly slowly catch a monkey.

 

Yes you can use your Digital Wallet and buy three sachets of government issue coffee.  Move along comrade.

[Old Curmudgeon]

3 minutes ago, Chris Daley said:

Yes control of money and products is part of most totalitarian ...

 

Yes, yes, I expect all of the sober readers here already know that.

 

So, @Chris Daley, what are you planning to do?

Edited October 27 by Old Curmudgeon

[Gottfrid]

40 minutes ago, Old Curmudgeon said:

Sorry, @Smokin Joe, I appreciate your effort, but the original post is the correct presentation for money dying.

 

This topic is about money dying before we old expats die.

The funny chart is merely a visual indicator of that.

The chart isn't the topic.

The only correct thing, is very hard to find here. Money is not dying, and you posted the graph upside down, End of!

Side note for you: Please don´t do any investments over 50 euro, without asking people with knowledge. 🤣

[FruitPudding]

What do you expect?

 

Cash is going to zero.

[1FinickyOne]

I am more concerned with the possibility of a fast and immediate crash if the USA dissolves into crazy conflict where the banks are forced to shutter... and the SS stops sending out checks... 

[Old Curmudgeon]

10 minutes ago, 1FinickyOne said:

I am more concerned with the possibility ... where the banks are forced to shutter... and the SS stops sending out checks... 

 

Yes, another likely problem, and very serious.

 

But the OP on this thread goes much, much deeper than that.

 

Edited October 27 by Old Curmudgeon

[timendres]

42 minutes ago, 1FinickyOne said:

I am more concerned with the possibility of a fast and immediate crash if the USA dissolves into crazy conflict where the banks are forced to shutter... and the SS stops sending out checks... 

 

SS will not stop sending out checks. The US Federal Reserve will but all US Treasury debt when they have no other choice.

Your real concern is a "haircut", where the SSA determines that benefits cannot be met in full. You will lose 20% or more of your benefit. But before that happens, you will likely see them nullify the COLA adjustment. That is the big red flag.

What will complicate matters, at that point, is that USDTHB could potentially be in free fall.

Then your haircut will be amplified by the poor exchange rate.

You will not get "nothing", but the financial pain will be quite intense.

I have planned for a 25% haircut in 7 to 10 years, with USDTHB hitting 25.

I feel this is the worst case scenario for those over 60 collecting SS.

[UWEB]

1 hour ago, Old Curmudgeon said:

 

It IS the right way !!

Took a bit of effort to make it like that.

Think about it.

If still un-clear, ask here.

I or someone else will explain to you.

May be another option?

 

[Old Curmudgeon]

2 minutes ago, timendres said:

 

...this is the worst case scenario for those over 60 collecting SS.

 

Thank you, @timendres for taking your time to write and post.

 

However, the topic here is NOT USA social security.

That might be a big topic and worth some discussion, but this not that topic.

 

What my original post suggests is that all Western currencies, everywhere in the world, and going to zero value.

 

[timendres]

1 hour ago, Gottfrid said:

The only correct thing, is very hard to find here. Money is not dying, and you posted the graph upside down, End of!

Side note for you: Please don´t do any investments over 50 euro, without asking people with knowledge. 🤣

 

Since you do not fully understand that gold is money and fail to see how the upside down chart clearly shows paper "money" losing value against real money, I believe it is you who will regret not getting sound financial advice. You are correct that "money is not dying" - the value of gold in terms of the paper known as USD demonstrates this. You are also correct that "fiat paper" is not dying, since it must continue to be used for transactions. It is simply that fake money is losing its value relative to real money. The answer, therefore, is to stop thinking of fake money as a store of wealth. Real assets, like real estate, gold, bitcoin, and many other investments, are for storing wealth. Paper money is for transactions.

[Old Curmudgeon]

3 minutes ago, UWEB said:

May be another option?

 

Yes, there is another option:  Ignore User.

 

Cheers, @UWEB, I won't see any more of your posts.

(And, I hope you'll ignore @Old Curmudgeon, in return.  Save a lot of time, eh?

I'm always looking for more to add to my list of Ignore User.  Anyone else?)

[Old Curmudgeon]

7 minutes ago, timendres said:

 

... gold is money ... the upside down chart clearly shows paper "money" losing value against real money,

 

Well said, @timendres.

Thank you for taking your time to explain that.

 

And what frightens me is there is no safe haven.

Not financially.

Not in location.

At least, I don't see any safe haven.

Edited October 27 by Old Curmudgeon

[FruitPudding]

15 minutes ago, Old Curmudgeon said:

 

Thank you, @timendres for taking your time to write and post.

 

However, the topic here is NOT USA social security.

That might be a big topic and worth some discussion, but this not that topic.

 

What my original post suggests is that all Western currencies, everywhere in the world, and going to zero value.

 

 

All money is going to zero. 

 

It's called "inflation"

[GreasyFingers]

23 minutes ago, Old Curmudgeon said:

 

Well said, @timendres.

Thank you for taking your time to explain that.

 

And what frightens me is there is no safe haven.

Not financially.

Not in location.

At least, I don't see any safe haven.

Yes mate, the problem is we do not know what the baht will do when things hit the fan. Most of my money is in cash (missed the rise in silver even when I thought it was undervalued V gold) but do have enough gold to survive as long as I don't live too long.

My problem is the wife will rely on the cash that is left plus some real estate after i am gone. If the food prices stay low she will survive but not if they go to the wests' levels..

[Gottfrid]

1 hour ago, timendres said:

 

Since you do not fully understand that gold is money and fail to see how the upside down chart clearly shows paper "money" losing value against real money, I believe it is you who will regret not getting sound financial advice. You are correct that "money is not dying" - the value of gold in terms of the paper known as USD demonstrates this. You are also correct that "fiat paper" is not dying, since it must continue to be used for transactions. It is simply that fake money is losing its value relative to real money. The answer, therefore, is to stop thinking of fake money as a store of wealth. Real assets, like real estate, gold, bitcoin, and many other investments, are for storing wealth. Paper money is for transactions.

In that case I don´t need any advice at all. I have my money invested in very solid assets. Also, it doesn´t matter if I lose half of it. will still be left for a couple of generations

[UWEB]

1 hour ago, Old Curmudgeon said:

 

Yes, there is another option:  Ignore User.

 

Cheers, @UWEB, I won't see any more of your posts.

(And, I hope you'll ignore @Old Curmudgeon, in return.  Save a lot of time, eh?

I'm always looking for more to add to my list of Ignore User.  Anyone else?)

Thanks, appreciate it to add me to your List of Ignored Users.

[Pattaya57]

3 hours ago, Smokin Joe said:

Now that the chart is readable, it shows that if OP is worried about money dying then just buy gold instead as it's going great guns 😉

[Gandtee]

Yes. Times are hard. I sent the missus out on the game last week and she came back with Baht 510. I said "What tight bugger gave you Baht10?" She said "All of them."😉

[FritsSikkink]

4 hours ago, Old Curmudgeon said:

Bank account will still have some numbers.

Pension will transfer in every month.

But won't buy much of anything here.

Or anywhere.

 

Your problem seems to be that you have no / hardly any assets and a low pension.

Not everybody has that problem.

"critique welcome" and then you put people on ignore, what a joke.

Edited October 27 by FritsSikkink

[RichardColeman]

6 hours ago, Old Curmudgeon said:

So, as our fiat money dies, buying less and less of life's little necessities -- like food -- what will expats do?

Seems to me that these posts regularly come up on here and I have to ask why so many people come here with so little money or financial noddle.

 

I can send about £1460 a month to live here, made up of both an early pension and UK rental income (I rent out for £1000 but my village is £1500 - but I want my tenant). I get my full UK pension in 6 years.

 

I know that I am not rich, especially compared to most people here on this site. But the money is more than enough for me and my family.

 

My point is I planned my retirement and living here. I planned what money I would have and the baht yoyo merry-go-round effects me , but it is liveable. 

 

If you feel a need to moan about having little money I would have to say that the problem is probably of your own making or aiming for a dream that was beyond you.

 

For those saying my own plans could go bits up with my tenant not paying and me losing most of my income, it did happen and I spent a year away from my wife and daughter repairing my house after a bad tenant ruined it. So even the best laid plans can go awry

 

 

 

 

 

 

[Lacessit]

My Australian OAP has cost of living adjustments every six months, in line with inflation.

 

I recently spent two nights in a government hospital, 7000 baht. I might pay that much for a single specialist consultation in Australia. They charge like wounded bulls.

 

At my current rate of capital depletion, which is added to my pension for a comfortable lifestyle, I will be reduced to having a pension only when I am 105 yo.

 

Yes, the AUD loses purchasing power in Australia. AFAICT the baht still buys all the stuff I need.

 

Having said that, people who come here hoping to live on a pension alone are in for a rude shock, when the first unexpected expense appears on their horizon.

[geisha]

Which is why it is very important to look after your health !  Could save a lot of money  in the future.  As for money  problems, lots of  pensioners have them sooner or later. All the world over.. Never too late to plan ahead. 

[rwill]

And if money goes to zero how will you buy gold?

[zackxx]

14 hours ago, Old Curmudgeon said:

 

Well said, @timendres.

Thank you for taking your time to explain that.

 

And what frightens me is there is no safe haven.

Not financially.

Not in location.

At least, I don't see any safe haven.

Yes physical gold is money (also physical silver) whereas all those fiat currencies you mention (and all fiat currencies used in the world) are just that: 'fake money", currencies (not money).

 

The rising "price" of gold in a fiat currency, like in your chart, just shows the value of that fiat losing value, or purchasing power, over time rather than the gold increasing in "value". Never save in a currency,  but in real money.

 

A simple analogy is a plane full of skydivers: the skydivers represent currencies that bob up and down relative to one another after they jump out of the plane. Gold on the other hand is the plane that follows a level course. Eventually all the skydivers reach the ground, like currencies with a value of zero.

Edited October 28 by zackxx

[jippytum]

 In most places   worldwide  governments are giving free handouts to millions and millions of illegals who have never paid one iota into the system and never will. 

No wonder western currencies are under pressure.