Garbage - Joe Biden sabotages Harris

[ericbj]

1 hour ago, Old Curmudgeon said:

 

A major effort by @ericbj.

Or perhaps by an astute A.I. bot.

I can't really tell.

But I thank you for taking the time to post all that.

 

As the OP here, I just wish you'd read the opening post more carefully and thought more thoroughly before you went off on that tangent about gold, silver and uranium.

(In fairness, you have a lot, really a lot, of company on that tangent on this thread.)

 

I now wish I'd started the opening post something like this:

• "Imagine that you've saved and saved and acquired a healthy amount of gold, silver, whatever.  And then comes the day the money dies.  All money.  Everywhere.  You've got your gold, silver, whatever, but nobody wants it.  Nobody will trade you anything for it.  Nothing!!  Because it's no good to them.  Your "stash" won't/can't buy anything.
• And add to that you are an expat living in Thailand, where foreigners are prohibited from doing almost any job, or operating almost any business.  What will you do??

 

Back over to you @ericbj for any further thoughts, but without any gold, silver, or uranium.

 

 

My opinion, which you may well disagree with.

 

Yes, the day may come when people will have no desire to acquire scrap paper in the form of promissory notes that effectively promise nothing.  Not even by the barrow-load as with Weimar Republic Germans purchasing their groceries.

 

However, it is my belief that they will still accept gold and silver, especially if in a form that is recognisable as guaranteeing purity.

 

Gold, for obvious reasons I shall not go into, will be the more valuable of the two metals as it always has been.  Perhaps in the old relationship of about 1:15, ounce to ounce.  Not as at present about 1:80.

 

More practical than barter.  Or cowrie shells and the like.  Although barter will likely become more common.

 

On a local scale we may see the widespread development of Local Exchange Trading Systems [LETS] using hand-filled paper tokens whose details are then entered into a digital accounting system.

 

Just over thirty years ago I became one of the earliest members [#121] of the first LETS to be formed in France, the SEL [Système d'Echange Locale] des Pyrénées, where we traded in "graines de sel" [grains of salt].  Such a system works on a local basis, owing to the trust that can develop between people who can get to know one another.  SEL markets were held from time to time in different towns.

 

The SEL covered mostly the Ariège and, at that time, part of the Aude Deparments.  Later the Aude developed its own SEL.

 

When last in France, in 2019, a local currency was being developed for the Haute Vallée of the Aude.  But I was not involved so can tell you nothing about that.  A local currency was already in use in Toulouse.

 

[MarkyM3]

Lots of posts about the rise of BRICS in this thread. My view on the countries involved...

 

Brazil - stock market has gone nowhere for the last 10+ years. Currently run by someone previously in jail for corruption. Say no more.

 

Russia - run by a despot and can't even win a war in Ukraine. The sanctioned economy is overheating due to shortages of skills and resources. 

 

China - in the middle of a major housing and financial crisis that's been dragging on for several years, with no coherent plan on how to exit it. Again, look at the market returns. Hang Seng Index until recently was trading lower than in 1997! Factor in inflation and it's even worse. They don't get on with India. 

 

India - the real challenger with favourable demographics but infrastructure is still under developed, education system is poor with blatant cheating an accepted feature. But, English speaking and relatively open, this is the real challenger to Western economies. They don't get on with China.

 

South Africa - a basket case, look at Eskom for example - rolling power cuts. They have a coalition govt for now which has seen an upturn but talk to most white South Africans and they've either left or want to if they can. 

 

The new BRICS joiners are mainly a rag tag of competing interests. India itself wants to keep on the right side of the West considering its export markets while gaining advantage from cheap Russian oil and arms. China currently rely heavily on exporting to the West too, while trying to advance its interests globally. 

 

I've invested in emerging markets and follow what goes on pretty closely. To me, the reality is the majority of BRICS countries have not performed well at all over a prolonged period, except for India. So, imo it's wishful thinking to believe BRICS is going to supersede the West with a new global reserve currency or alternative to SWIFT anytime soon. They simply aren't a cohesive entity, as compared to the G7 for example.

 

It's also worth considering where the real talent in countries like India want to work, as well - generally not in their own country with wages a fraction of what they can earn in the West as software developers or the like. 

Edited 15 hours ago by MarkyM3

[HighPriority]

6 hours ago, Old Curmudgeon said:

 

A major effort by @ericbj.

Or perhaps by an astute A.I. bot.

I can't really tell.

But I thank you for taking the time to post all that.

 

As the OP here, I just wish you'd read the opening post more carefully and thought more thoroughly before you went off on that tangent about gold, silver and uranium.

(In fairness, you have a lot, really a lot, of company on that tangent on this thread.)

 

I now wish I'd started the opening post something like this:

• "Imagine that you've saved and saved and acquired a healthy amount of gold, silver, whatever.  And then comes the day the money dies.  All money.  Everywhere.  You've got your gold, silver, whatever, but nobody wants it.  Nobody will trade you anything for it.  Nothing!!  Because it's no good to them.  Your "stash" won't/can't buy anything.
• And add to that you are an expat living in Thailand, where foreigners are prohibited from doing almost any job, or operating almost any business.  What will you do??

 

Back over to you @ericbj for any further thoughts, but without any gold, silver, or uranium.

 

In the world that’s in your head where society has followed cash into collapse farang can do any job they want because there will be no immigration, no police…

Your “job” will be to raise and protect some crops and maybe animals with your family, work permit will be the last on you to do list.

 

ps

ive left a spelling mistake so you can block me… 🙄

[sandyf]

On 10/27/2024 at 4:40 PM, Old Curmudgeon said:

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

Never going to happen, there is always the option of redenomination.

Currency will always have a value. A few years back Turkey turned 1 million lira into 1 lira overnight.

[Old Curmudgeon]

11 hours ago, soi3eddie said:

If you have gold in hand, it will retain its value

 

@soi3eddie, this question, if I may:

When that gold in hand is confiscated by the local government,

or taken by local robbers, then what is your plan??

 

Even if you are successful at hiding that gold,

but anyone who trades anything for any gold is subject to severe punishment, your gold will be good for what?

 

And you are an expat in Thailand yes?

 

 

Edited 6 hours ago by Old Curmudgeon

[Old Curmudgeon]

8 hours ago, MarkyM3 said:

Lots of posts about the rise of BRICS in this thread. My view on the countries involved...

 

Yes, lots of post about BRICS, but this thread is NOT about BRICS.

Not about other countries.

Not about "emerging markets" either.

 

This thread asks what will you -- as an expat in Thailand -- do when money dies in every currency, everywhere in the world.

 

So, @MarkyM3, on topic if you will.

What will you do??

 

And I assume you are an expat in Thailand.

[Old Curmudgeon]

10 hours ago, ericbj said:

Yes, the day may come when people will have no desire to acquire scrap paper in the form of promissory notes that effectively promise nothing. 

 

Thank you, @ericbj for thoughtful comments.

 

I assume you are an expat in Thailand.

If any money you have coming into Thailand from your investments or your home country becomes worthless, what will you do?

You can't work here, not as an expat on retirement extension of visa.

Similarly, can't do any business here, not even informal business.

Very much frowned on.

 

So, even though local communities in Thailand follow the examples in France and create their own "grains of salt" trading currencies, what will you do to acquire some of that salt??

 

Looking forward to your further comments.

[Old Curmudgeon]

2 hours ago, sandyf said:

Never going to happen, there is always the option of redenomination.

 

 

@sandyf, when you make that prediction, I can't help but wonder if you are aware of the situation in Rhodesia/Zimbabwe over the past 20 years.

Inflation rate as high as 89.7 sextillion percent (8.97 × 10^23) per month.

("Sextillion" is a real number ... I didn't make that up.)

 

And I hope your explanation is interesting, because even today nobody in Zimbabwe wants their national currency, not for anything.

They use the US Dollar and the SA Rand.

 

If something similar happens in this part of the world, and you are (I assume) an expat living here, what will you do?

Edited 6 hours ago by Old Curmudgeon

[Peterphuket]

7 hours ago, Old Curmudgeon said:

 

@sandyf, when you make that prediction, I can't help but wonder if you are aware of the situation in Rhodesia/Zimbabwe over the past 20 years.

Inflation rate as high as 89.7 sextillion percent (8.97 × 10^23) per month.

("Sextillion" is a real number ... I didn't make that up.)

 

And I hope your explanation is interesting, because even today nobody in Zimbabwe wants their national currency, not for anything.

They use the US Dollar and the SA Rand.

 

If something similar happens in this part of the world, and you are (I assume) an expat living here, what will you do?

Well in one of your premessages you said this item is not about the BRICS countries, but  Thailand is nominated to become a member of the BRICS countries.

For that reason I still believe that it is important to know what will happen to the currency in this country.

However, I also believe that gold provides a great deal of security, and that I'm certainly not going to worry about confiscations or some burgler  who could come to steal my gold.

 

BTW Can you imagine especially in Thailand where everybody owning a little bit or a little bit more gold that the government would dare to confiscate that?

You don't believe that yourself.

[cdemundo]

On 10/27/2024 at 2:45 PM, 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.

Okay, so it was meant to be illegible and incomprehensible.

Got it.

[Scott Tracy]

On 10/29/2024 at 11:44 AM, BritManToo said:

Depends what you're buying!

How much would a 75" TV have cost in1924?

Or movies or a music collection in your home?

 

And why worry about the money value, isn't the real value in the number of hours you need to work in order to buy something? If you're considering the working hours required, most of us are billionaires compared to people living 100 years ago.

Are we? Compared to 1924's comparative 2024 value of £1250 per month... for a team driver... According to Hansard. 76 shillings a week, £3 8s 0d. 

[ericbj]

3 hours ago, Old Curmudgeon said:

 

@sandyf, when you make that prediction, I can't help but wonder if you are aware of the situation in Rhodesia/Zimbabwe over the past 20 years.

Inflation rate as high as 89.7 sextillion percent (8.97 × 10^23) per month.

("Sextillion" is a real number ... I didn't make that up.)

 

And I hope your explanation is interesting, because even today nobody in Zimbabwe wants their national currency, not for anything.

They use the US Dollar and the SA Rand.

 

If something similar happens in this part of the world, and you are (I assume) an expat living here, what will you do?

 

Am reluctant to publicise in detail my life.

 

But briefly:

 

First visited Thailand for about a fortnight in April 1967. Bangkok & environs, bridge over the Kwai (which my step-father unwillingly helped build), train to Singapore.  Bangkok a VERY different place in those days.  Returning to TPNG from my first leave in the UK.  Worked in the New Guinea bush as a native affairs officer from '64 to '69.

 

February 2000, shocked to learn of the betrayal of the Karen by the British govt. in the aftermath of the '39-45 War.  Became active in trying to spread info in France about what was happening in Burma and garnering signatures to boycott TotalFinaElf (as it then was).  Illegal to call for a boycott, but not much risk because Total wished and was succeeding in sweeping news about the Yadana pipeline under the carpet.

What little news there was about Burma in the French media concerned merely DASSK and the NLD.  A diversion from harsh realities.

 

Became active on Burma-centred yahoogroups.  Initially on "freeBurma" where I crossed swords with some Burmans, obvious stooges of Burmese M.I., who clearly sought to create antagonism and mistrust between ethnic groups, especially between Burman and non-Burman.  Later, on "Democracy4Burma", when it was launched by Henry Soe Win in Perth, W.A., and where, upon request, I drafted a petition condemning the Depayin Massacre which was rapidly approved and put on line, on I think 2nd June 2003.

 

In March 2001, launched my own web-site about the struggle for democracy and human rights in Burma.  Stopped updating it about nine years later.  And took it down some years later still, as it was costing money in annual fees and was way out-of-date.

 

Came out to Thailand for the second time in my life in November 2001, as an unpaid volunteer teacher of English to refugees from Burma.  Quite a shock to see the changes in Bangkok.  Was taking classes for roughly half of each year for about eleven years, at which moment volunteering to teach English on the border became popular with recently qualified Western school-teachers who "fought one another" to get classes, so I heard.  I dropped out of teaching, except occasionally helping to improve the English of someone's younger brother, daughter, or adopted son, and to assist a young Karen woman obtain her Australian Open University degree.

 

I continued coming to the border every year for roughly the same period, to see old friends, and to avoid Europe's colder seasons.  And so it was that I arrived on the 31st October 2019, and was due to leave on the 14th May 2020.  But owing to the coronavirus scare, travelling decreased and British Airways cancelled one of flights back and invited me to book another.  This I did.  But several weeks later they cancelled that flight.  I booked a third flight, departing Suvarnabhumi on 30th June 2020.  But later that too was cancelled.  And from the following day, 1st July, all international passenger flights were banned.  And the borders were closed.

 

I thought to myself "OK, I go back next year."  But in 2021 travel restrictions were still in place.  And to make matters worse, from January of that year my health took a major turn for the worse with the development of painfully incapacitating ankle ulcers.  This health problem has continued despite numerous hospital visits including a major operation.  None of which is covered by my accident-only, in-patient-only medical insurance whose premiums eat up four months of my UK State Pension towards which I fortunately made about 20 years of voluntary contributions while living in France, after discovering I could do so.  The UK Pensions Service considers me to now be expatriated to Thailand.  So for several years there has been none of the annual increment to which I was entitled in France.

 

Consequently, urgent that I get back to France, despite huge difficulties on getting there.  Too numerous to enumerate.  But one hopeful factor is I am still an EU citizen, as holder of an Irish, as well as British, passport.  My father, whom I never knew (1/RUR, kia Deauville 22/08/44) was from Co.Down.  My birth certificate, his birth certificate, and my parents' marriage certificate sufficed to obtain the passport.

 

Maybe not the info you were counting on.  But gets it off my chest, and gives you something to read. 🙂

[BritManToo]

1 hour ago, Scott Tracy said:

Are we? Compared to 1924's comparative 2024 value of £1250 per month... for a team driver... According to Hansard. 76 shillings a week, £3 8s 0d. 

Yes, servants wages in the west have gone through the roof, but we don't really need them anymore.

[Hawaiian]

13 hours ago, MarkyM3 said:

Lots of posts about the rise of BRICS in this thread. My view on the countries involved...

 

Brazil - stock market has gone nowhere for the last 10+ years. Currently run by someone previously in jail for corruption. Say no more.

 

Russia - run by a despot and can't even win a war in Ukraine. The sanctioned economy is overheating due to shortages of skills and resources. 

 

China - in the middle of a major housing and financial crisis that's been dragging on for several years, with no coherent plan on how to exit it. Again, look at the market returns. Hang Seng Index until recently was trading lower than in 1997! Factor in inflation and it's even worse. They don't get on with India. 

 

India - the real challenger with favourable demographics but infrastructure is still under developed, education system is poor with blatant cheating an accepted feature. But, English speaking and relatively open, this is the real challenger to Western economies. They don't get on with China.

 

South Africa - a basket case, look at Eskom for example - rolling power cuts. They have a coalition govt for now which has seen an upturn but talk to most white South Africans and they've either left or want to if they can. 

 

The new BRICS joiners are mainly a rag tag of competing interests. India itself wants to keep on the right side of the West considering its export markets while gaining advantage from cheap Russian oil and arms. China currently rely heavily on exporting to the West too, while trying to advance its interests globally. 

 

I've invested in emerging markets and follow what goes on pretty closely. To me, the reality is the majority of BRICS countries have not performed well at all over a prolonged period, except for India. So, imo it's wishful thinking to believe BRICS is going to supersede the West with a new global reserve currency or alternative to SWIFT anytime soon. They simply aren't a cohesive entity, as compared to the G7 for example.

 

It's also worth considering where the real talent in countries like India want to work, as well - generally not in their own country with wages a fraction of what they can earn in the West as software developers or the like. 

I agree that BRICS is a futile attempt by losers trying to take down the U.S. and its allies.  As for G7, democratic governments have always triumphed over autocratic ones. 

 

[Hawaiian]

5 hours ago, Old Curmudgeon said:

 

Yes, lots of post about BRICS, but this thread is NOT about BRICS.

Not about other countries.

Not about "emerging markets" either.

 

This thread asks what will you -- as an expat in Thailand -- do when money dies in every currency, everywhere in the world.

 

So, @MarkyM3, on topic if you will.

What will you do??

 

And I assume you are an expat in Thailand.

This thread is about you and your fantasies.  Don't invite comments if you don't mean it.

[MarkyM3]

6 hours ago, Old Curmudgeon said:

 

Yes, lots of post about BRICS, but this thread is NOT about BRICS.

Not about other countries.

Not about "emerging markets" either.

 

This thread asks what will you -- as an expat in Thailand -- do when money dies in every currency, everywhere in the world.

 

So, @MarkyM3, on topic if you will.

What will you do??

 

And I assume you are an expat in Thailand.

If you look at my sig, I split my time between the UK and Thailand. So no, I'm not a full-time expat, I spend around 60% of time in Thailand. 

 

I don't buy into your doomsday predictions. The fortunes of countries may rise and fall in future and some countries are no doubt accumulating precipitous amounts of national debt but predicting the global collapse of every currency in the world is way off the mark. Are we going to go back to bartering, or have crypto (a ponzi scheme imo) takeover? I don't think so. We've seen some major financial crises in the last 100 years and none has brought about a financial apocalypse. Major shocks, such as the 2008-10 financial crisis but humans seem to be more resilient economically than given credit for. 

 

Personally, I feel I've got enough assets to see me through the rest of my time on earth (I'm 53). I keep them in a mixture of pensions, various stock & bond investments and cash. I'm more worried about rogue leaders deciding to use nuclear weapons or invade countries by force, which could in turn have major economic consequences. But I don't believe all currencies will collapse, far from it. 

 

 

Edited 1 hour ago by MarkyM3