When Our Money Dies

[fredwiggy]

1 hour ago, spidermike007 said:

I live here but I go to back to the US 2 to 5 times a year for work-related endeavors, and family visits, so I am here most of the year. However I spend enough time in the US to realize just how joyless the place is, and just how ridiculously overpriced nearly everything is. The vast majority of my friends and family who live there feel the same way about inflation and the degree to which everything is overpriced these days.

 

Monaco and London are now cheaper than most major cities in the US. 

Maybe so, but America has everything anyone needs all in one place, and things that are much better than here, and safer. A better place to raise children for sure, and a much safer place to drive. People who jobs much better with more pride, and the corruption level doesn't come anywhere near this place.

 

A place is joyless if it doesn't have things you like. Thailand is one of the most boring places on earth, besides the beach areas. Everywhere else is exactly the same, and a rainy season where you can't enjoy anything outdoors, and a burning season in many areas where your lungs are taking a toll if you spend any time outside, and if you have to stay indoors like many do, what's the sense living here?

 

Things cost more int he US because people make more, and availability is 100% on everything, whereas here many things you have to buy online or not able to get anyway. Like I mentioned, if you like to stay indoors much of the time, drinking or other things, and are happy puttering around in the garden or playing golf, Thailand is okay. Besides that, there's not much to do besides eat, and that and all other things you can do anywhere, without all the visa hassles and related things. And living here on a day to day basis for over 6 years, I don't see much happiness in the locals, besides gossiping and drinking. I hear from many of them how bored and sad many of them are, for the same reasons I mentioned.

[spidermike007]

10 minutes ago, fredwiggy said:

Maybe so, but America has everything anyone needs all in one place, and things that are much better than here, and safer. A better place to raise children for sure, and a much safer place to drive. People who jobs much better with more pride, and the corruption level doesn't come anywhere near this place.

 

A place is joyless if it doesn't have things you like. Thailand is one of the most boring places on earth, besides the beach areas. Everywhere else is exactly the same, and a rainy season where you can't enjoy anything outdoors, and a burning season in many areas where your lungs are taking a toll if you spend any time outside, and if you have to stay indoors like many do, what's the sense living here?

 

Things cost more int he US because people make more, and availability is 100% on everything, whereas here many things you have to buy online or not able to get anyway. Like I mentioned, if you like to stay indoors much of the time, drinking or other things, and are happy puttering around in the garden or playing golf, Thailand is okay. Besides that, there's not much to do besides eat, and that and all other things you can do anywhere, without all the visa hassles and related things. And living here on a day to day basis for over 6 years, I don't see much happiness in the locals, besides gossiping and drinking. I hear from many of them how bored and sad many of them are, for the same reasons I mentioned.

One dissatisfied man's perspective. Not truth. Not reality. Just your reality. Which is a whole lot different than many of ours, thankfully. After a month in the US, all I want to do is leave. I literally cannot wait to return to my wonderful life here. 

 

 

[fredwiggy]

Just now, spidermike007 said:

One dissatisfied man's perspective. Not truth. Not reality. Just your reality. Which is a whole lot different than many of ours, thankfully. After a month in the US, all I want to do is leave. I literally cannot wait to return to my wonderful life here. 

 

 

Not my opinion but facts gained from years before moving here, seeing it for myself, and hearing it from many others who both lived here and  moved from here because of those reasons, or were born here and didn't like living here also. It's easy to hide in a village here and be content with a blase life, as long as you have a young wife and some things to pass the time. Most everyone I know personally here leaves to go back to their country because they miss it every year, or just stay here because their wives don't want to leave for whatever reasons they have. Of course there are some who just enjoy drinking daily and having sex with bar girls because it's an easy life, and still miss their countries, but didn't have anyone back home to visit so stay here. I see things just how they are here, and many others have verified this in their lives. It's just not easy to move and settle down again, so many just stay because it's easier.

[sandyf]

On 10/31/2024 at 11:30 AM, 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?

I am quite familiar with Zimbabwe, I was an RAF apprentice when Ian Smith declared UDI, all the Rhodesian apprentices lost their passports and were deported. Lost count on the number of times the Zimbabwe currency has been redenominated.

I am too old to get concerned over things that may never happen, particularly when I have little to lose.

Man has been trading since he first walked the earth and that is never going to change.

 

 

 

 

 

 

 

[JTXR]

On 10/28/2024 at 7:04 AM, zackxx said:

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).

Yeah, try buying a car with gold.

This thread is funny for a number of reasons, first in that it claims to be about the value of money (various currencies) but the chart illustrates the value of gold.  The price of gold in dollars, pounds, baht, etc., doesn't affect in any significant way the value of those currencies for purchasing everything  that is not gold (i.e., almost everything).

 

Rotating the graph is cute but pointless.  And using the graph as a starting point for talking about "currencies with a value of zero) is especially funny.  It would only be true if gold were the only thing that could be purchased with currency AND if gold could conceivably become infinitely valuable -- the former is of course never true and the latter is impossible.

[BritManToo]

26 minutes ago, JTXR said:

Yeah, try buying a car with gold.

Come TEOTWAWKI, a bullet is probably how you would buy a car, assuming the fuel was still available to make your bullet worth using.

[ericbj]

For anyone still following this rather overworn thread, the following long article (which incidentally ends with a sales pitch for an expensive investment newsletter, which could be good value for those with a deep pocket) may be found thought-provoking.

You don't have to subscribe to the newsletter!

 

https://financialunderground.com/the-top-gold-stock-to-own-right-now/

 

[rickudon]

 All countries use money these days. it may be paper, digital or whatever.  Reality - if all these currencies become useless, so will gold to a large degree. Back to barter. Food, weapons, tools and other materials  will be what you need. Cannot eat gold or make a decent weapon out of it.

 

The OP does not take into account interest on money.  Adjusted for inflation, My GBP with interest when converted to Baht buys me about the same as 10 years ago. My  pension goes up nearly every year. Gold doesn't grow, current high value just due to war and other lesser conflicts, will probably loose a third of its value if all the international conflicts stopped.

[owl sees all]

17 hours ago, JTXR said:

Yeah, try buying a car with gold.

This thread is funny for a number of reasons, first in that it claims to be about the value of money (various currencies) but the chart illustrates the value of gold.  The price of gold in dollars, pounds, baht, etc., doesn't affect in any significant way the value of those currencies for purchasing everything  that is not gold (i.e., almost everything).

 

Rotating the graph is cute but pointless.  And using the graph as a starting point for talking about "currencies with a value of zero) is especially funny.  It would only be true if gold were the only thing that could be purchased with currency AND if gold could conceivably become infinitely valuable -- the former is of course never true and the latter is impossible.

This is so naive.

 

When the paper money is no longer available, or is reduced to zero value, how are you gonna get your essentials? Fuel will be very difficult to come by. And if you were lucky enough to find some; how would you pay for it? Well I'll tell you what. If you have a little gold in yer pocket you might be able to do a trade.

 

You want a chicken for the family to eat? Well I tell you what. Do a deal with the chicken man, to get one a week for a year, in exchange for a gramme of gold.

 

When the dollar US collapses and becomes worthless,  there will be repercussions all round the world for other currencies. People will lose confidence in the paper/polymer stuff and demand better. Those countries that have the resources, and the ability to feed itself, will be the new top doggies.

 

We must get real. We must be prepared. Forget that new car. Forget that expensive might out. Forget those fancy over-priced clothes. Forget wasting yer dosh on those 'special' ladies (or ladyboys). Buy actual gold while you still can. It will not be cheap forever.

[JTXR]

12 minutes ago, owl sees all said:

This is so naive.

 

When the paper money is no longer available, or is reduced to zero value, how are you gonna get your essentials? Fuel will be very difficult to come by. And if you were lucky enough to find some; how would you pay for it? Well I'll tell you what. If you have a little gold in yer pocket you might be able to do a trade.

Nice living in an imaginary world, is it?

 

[owl sees all]

1 minute ago, JTXR said:

Nice living in an imaginary world, is it?

 

I guess you have eyes to see, and ears to listen?

 

The US is desperate. The majority of the world is moving to a place where the dollar US is irrelevant. Why do you think they are so keen on WW111? When the dollar goes down it will take all the western currencies with it. This paper/polymer money is only worth something if the people believe it has value.

 

Buy gold. Not great big 5 kilo bricks, but in amounts that can be traded.

[NanLaew]

On 10/27/2024 at 2:48 PM, 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.

 

By your convoluted intervention and explanation, it is now.

[Hawaiian]

11 hours ago, rickudon said:

 All countries use money these days. it may be paper, digital or whatever.  Reality - if all these currencies become useless, so will gold to a large degree. Back to barter. Food, weapons, tools and other materials  will be what you need. Cannot eat gold or make a decent weapon out of it.

 

The OP does not take into account interest on money.  Adjusted for inflation, My GBP with interest when converted to Baht buys me about the same as 10 years ago. My  pension goes up nearly every year. Gold doesn't grow, current high value just due to war and other lesser conflicts, will probably loose a third of its value if all the international conflicts stopped.

There are many factors involved in the rising price of gold.  Many fail to see that the debt to GDP ratios are playing a big effect on gold's rise.  And it is not only America's rising debt that is of concern.  The potential for a disruption in the flow of oil is another concern.

Granted there will be corrections in the price of gold and silver, but the general trend is up.  Gold and silver coins I bought nine years ago have more than doubled in value.

 

 

[ericbj]

6 hours ago, Hawaiian said:

There are many factors involved in the rising price of gold.  Many fail to see that the debt to GDP ratios are playing a big effect on gold's rise.  And it is not only America's rising debt that is of concern.  The potential for a disruption in the flow of oil is another concern.

Granted there will be corrections in the price of gold and silver, but the general trend is up.  Gold and silver coins I bought nine years ago have more than doubled in value.

 

 

 

I started buying gold and silver in late 2014 after realising the trend the global economy was taking, which bade ill for the future.  Initially 50-50 gold-silver by value.

 

But I dumped silver bullion for gold after a while because silver was going nowhere and the storage/insurance charges were about triple that of gold.  But kept a bit in silver shares in view of a potential rally yielding leverage…

 

Recently, seeing growing demand for silver and diminishing supplies, I switched a modest amount of gold bullion back into silver.

 

I agree with your opinions expressed here.  Except where you say "Gold and silver coins I bought nine years ago have more than doubled in value."  I think you mean doubled in terms of USD (a bit more so for gold, less for silver).  I.e. they have held their purchasing power, which confirms their usefulness as a "store of value".

 

Bullion is not an 'investment' in the ordinary sense of the word.  But I believe gold and silver could go MUCH higher in terms of both exchange for fiat currency and possibly also purchasing power.  Their values have been deliberately and artificially depressed by market manipulation (short-selling in the 'paper' markets).  So they have some way to go to catch up.

 

Asian countries are happy to profit on the backs of myopic western financial institutions, and are steadily cornering the market in p.m.s (and other commodities).  The time will come when they push for revaluation.

 

[Hawaiian]

2 hours ago, ericbj said:

 

I started buying gold and silver in late 2014 after realising the trend the global economy was taking, which bade ill for the future.  Initially 50-50 gold-silver by value.

 

But I dumped silver bullion for gold after a while because silver was going nowhere and the storage/insurance charges were about triple that of gold.  But kept a bit in silver shares in view of a potential rally yielding leverage…

 

Recently, seeing growing demand for silver and diminishing supplies, I switched a modest amount of gold bullion back into silver.

 

I agree with your opinions expressed here.  Except where you say "Gold and silver coins I bought nine years ago have more than doubled in value."  I think you mean doubled in terms of USD (a bit more so for gold, less for silver).  I.e. they have held their purchasing power, which confirms their usefulness as a "store of value".

 

Bullion is not an 'investment' in the ordinary sense of the word.  But I believe gold and silver could go MUCH higher in terms of both exchange for fiat currency and possibly also purchasing power.  Their values have been deliberately and artificially depressed by market manipulation (short-selling in the 'paper' markets).  So they have some way to go to catch up.

 

Asian countries are happy to profit on the backs of myopic western financial institutions, and are steadily cornering the market in p.m.s (and other commodities).  The time will come when they push for revaluation.

 

Most of the coins I bought are collectors items like double eagles, etc.  They are valued not only for their gold content, but also for their scarcity.

[Captain Flack]

A flame post, containing a personal attack has been removed.

[swissie]

At this point, it is unknown who will win the election. But one thing is for sure: Under both candidates the Federal Budget Deficit will increase some more.
For the first time in American history, just to service the dept will cost more than the defence budget.
Food for thaught. Cheers.

[itsari]

On 10/27/2024 at 2:20 PM, 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.

 

 

Buy property in Thailand and rent out . 

As the currency you bought property with reduces in value your rental income will increase.