Financial Crisis

[Naam]

I don't know if you have a psychological problem or something but you have been one of the most inconsistent people in this thread. One minute you are joining the condemnation of the banksters and then the next minute you flame mccw in defence of the banksters.

it's useless to discuss anything with people who lack comprehension of basis facts or, if they comprehend, they twist, tilt, invent things and even come up with deliberate blatant lies to hide their inferiority complexes and their naked fear of the future.

[mccw]

I don't know if you have a psychological problem or something but you have been one of the most inconsistent people in this thread. One minute you are joining the condemnation of the banksters and then the next minute you flame mccw in defence of the banksters.

it's useless to discuss anything with people who lack comprehension of basis facts or, if they comprehend, they twist, tilt, invent things and even come up with deliberate blatant lies to hide their inferiority complexes and their naked fear of the future.

Talking about your multiple selves within your schizophrenic mind here you are.

[midas]

tick tock.tick tock......

Japan Plunges Into Deep Recession; GDP Shrinks 3.5% Annualized; Japan Current Account Turns Negative First Time in 30 Years; Watch the Yen

Actually, Japan has extremely serious issues already, it's just that the market is ignoring them for now. If interest rates rise by a mere 2% or so, interest on the national debt will consume 100% of Japanese tax revenue.

Read more at

http://globaleconomi...TFO6kBRogXez.99

Edited November 12, 2012 by midas

[midas]

Did you ever watch that program "doomsday preppers" on nat geo/ you tube? All those comments from the state believers saying how dumb or crazy the preppers are or "nothing ever happens" etc etc; well i bet those in NY etc wish they had a room full of supplies on hand right now! Just like those catch in middle the London riots ,or Katrina, or Thai floods, Russian floods, Burmese floods, Pakistani earthquake floods, Chinese earthquake, Haiti, Japan, Italy, turkey, etc tsunami etc etc shit does happen and it seems to be hitting the fan more often than ever before.

I'm sure its not just my perception or the media coverage; seems there are so many many earthquakes and massive natural disasters since 2000; its like a once in 10year event is getting to 1 a year to now last couple of years building to more like 2-4 per year.

As we've talked about already the extreme weather around the world is leading in to food prices increasing in leaps and bounds.

This is just the beginnings

Sandy : Lessons From The Wake Of The Storm

Sandy illustrates a number of important points - how fundamentally dependent modern society is on centralized life-support networks, how interconnected different dependencies are, how crucial the role of energy really is, how disruption in one system can cascade into impacts in many others, and how unprepared people typically are to withstand even relatively short disruptions of essential services

Not all disasters are physical and localized. A major financial crash, while not directly physically destructive, can nevertheless be devastating, and can affect whole countries or supranational aggregations at once. Finance is the operating system, and crashing the operating system has significant consequences in a short period of time. The odds of experiencing something of this nature over the next few years are uncomfortably high.

http://theautomatice...-the-storm.html

Edited November 12, 2012 by midas

[Khun Jean]

The way i see it is that by using incredible large amounts of freshly printed money (or actually numbers in a computer) we were given time to prepare.

Wealthy people know that especially the ones that have multi generational wealth. Economies always goes up and down, just make sure you build a large enough surplus when the going is good to easily survive the times when it goes bad. Multiple residences is one of those things that can really help. Economy tough in the west, move east.

I 'prepared' by living in Thailand and keep most money i earn instead of paying almost 85% of it in all kinds of different taxes. Living very close to food sources is also a good thing.

The whole just in time system is very sensitive to small disruptions and food supply will be the first thing people will see fail. Nobody has food enough in the house like people used to have not all that may years ago. You don't need to go all gloom and doom and have food storage for a year, but for a few weeks seems the right thing to do. It is so simple and it even relieves you some times from shopping.

A lot of things are going "hockeystick", that makes timing very difficult if not impossible.

[cheeryble]

On a topic about the nature of loans and money creation. Why should bankers have such privilege to create money through issuing debt? .

Hey mccw

......but you CAN create money!

When you use your margin at the broker you are leveraging your capital into debt.....just the same as the banks.....in stocks only up to a quadruple, on currencies multiple times more......meaning you, mccw, can be a bigger money creator than the banks.

Just the same as banks if done properly it can be a useful process, and just the same you get the downside of higher liabilities to balance potential higher profits.

Unfortunately if things go belly up.....as for instance if you bought a hundredweight of gold on margin and some idiotic governments decided to stick with banknotes.....it is unlikely the government will be bailing out mccw (or Cheeryble or even Naam).....but then I'm guessing the chance for banks to even enter the sort of territory where they could need a bailout is now past.

Edited November 12, 2012 by cheeryble

[cheeryble]

I 'prepared' by living in Thailand and keep most money i earn instead of paying almost 85% of it in all kinds of different taxes. Living very close to food sources is also a good thing.

.

I favour the wonderful duck and noodles on the left side of the superhighway.

On another happy note my dog's been eating double shifts with a neighbour so in a pinch I can eat him.....

Edited November 12, 2012 by cheeryble

[mccw]

True

But I think that is not a good thing either.

[mccw]

Something going wrong with the reply feature on the TV app just now.

The above was meant to be quoting cheery bye saying how citizen can create money.

[mccw]

Something going wrong with the reply feature on the TV app just now.

The above was meant to be quoting cheery bye saying how citizen can create money.

[mccw]

Something going wrong with the reply feature on the TV app just now.

The above was meant to be quoting cheery bye saying how citizen can create money.

[cheeryble]

Something going wrong with the reply feature on the TV app just now.

The above was meant to be quoting cheery bye saying how citizen can create money.

It's Cheeryble.

Have you never read your Dickens?

It would be missing something to go through life without the Cheeryble Brothers.

Edited November 13, 2012 by cheeryble

[mccw]

Something going wrong with the reply feature on the TV app just now.

The above was meant to be quoting cheery bye saying how citizen can create money.

It's Cheeryble.

Have you never read your Dickens?

It would be missing something to go through life without the Cheeryble Brothers.

I'll be sure to add it to my post collapse reading list

[mccw]

"The Financial Services Authority (FSA) and Ofgem are investigating claims by a whistleblower that Britain's wholesale gas market has been frequently manipulated by energy companies.

The allegations, revealed by The Guardian, suggest the £300bn market has been fixed in a way similar to bank fiddling of the Libor interest rate."

Surprise?

And, Another load of crooks now getting investigated by a UK Parlimentary committee :

The PAC is questioning representatives of Starbucks, Amazon and Google about the amount of tax they pay in the UK amid mounting concern about tax avoidance by big international firms.

When grilled by PAC chair Margaret Hodge, Mr Alstead said Starbucks had only made a profit once in the 15 years it has been doing business in the UK.

"I assure you we are not making money," he told the committee.

"It's very unfortunate. We're not at all pleased about our financial performance here. It's fundamentally true everything we are saying and everything we have said historically."

Labour's Ms Hodge replied: "You have run the business for 15 years and are losing money and you are carrying on investing here. It just doesn't ring true."

What aBlatant barefaced lier that man

[mccw]

The way i see it is that by using incredible large amounts of freshly printed money (or actually numbers in a computer) we were given time to prepare.

Wealthy people know that especially the ones that have multi generational wealth. Economies always goes up and down, just make sure you build a large enough surplus when the going is good to easily survive the times when it goes bad. Multiple residences is one of those things that can really help. Economy tough in the west, move east.

I 'prepared' by living in Thailand and keep most money i earn instead of paying almost 85% of it in all kinds of different taxes. Living very close to food sources is also a good thing.

The whole just in time system is very sensitive to small disruptions and food supply will be the first thing people will see fail. Nobody has food enough in the house like people used to have not all that may years ago. You don't need to go all gloom and doom and have food storage for a year, but for a few weeks seems the right thing to do. It is so simple and it even relieves you some times from shopping.

A lot of things are going "hockeystick", that makes timing very difficult if not impossible.

Completely agree with you.

I first though I could ride out the turmoil in west and move east later but now I realise the turmoil could be a lot more permanent than I first imagined. I plan to move back Thailand next year for same reasons as you + a few. Hoping the shit don't hit the fan before then. I'm prepped to sit right if I must though.

How do bad do think a western collapse effect would be on Thai? I expect economy would suffer but no real mayhem or social/ societal break down since most or many can return to the land. West on the other hand I think could be totally f##ked what with the "just in time" food supply chains.

[mccw]

"Japans policymakers are struggling to fix finances ahead of parliamentary elections as the ruling party and the opposition agreed to pass a deficit funding bill in parliament in order to avoid its version of a 'fiscal cliff'.

I welcome the fact that the three parties have reached an agreement, Chief Cabinet Secretary Osamu Fujimura told reporters today in Tokyo. It is my strong hope that the bill itself will be enacted quickly.

The agreement calls for the authorization of deficit-financing bonds for the current fiscal year ending in March, the three upcoming years. The measure is crucial to borrow some US$480 billion and fund roughly 40% of this fiscal year's budget. The bill would pass in the lower house Thursday and is expected to come to the upper house by the end of the month."

Bonds to fund the deficit- or 40% of the gov buget for just this year- at 480billion dollars? They were named in the previous link of mine, as well as the uk and US, as repaying themselves the interest on these self bought bonds- so this is 480billion dollars of strait money printing; but now they have just crossed from printing only on the reasoning of 1 off Cash injection "stimulus" to actually having to print just to meet the governments commitments/ pay welfare, salaries, contracts etc?!

480 billion

Just how serious is this?

[Naam]

Naam; your abound man right? What happens when a bonds bubble bursts? Do you think we could be in one / at the peak of one today?

mccw have you seen this new interview about this very subject ...?

!

[Naam]

The way i see it is that by using incredible large amounts of freshly printed money (or actually numbers in a computer) we were given time to prepare.

Wealthy people know that especially the ones that have multi generational wealth. Economies always goes up and down, just make sure you build a large enough surplus when the going is good to easily survive the times when it goes bad. Multiple residences is one of those things that can really help. Economy tough in the west, move east.

I 'prepared' by living in Thailand and keep most money i earn instead of paying almost 85% of it in all kinds of different taxes. Living very close to food sources is also a good thing.

The whole just in time system is very sensitive to small disruptions and food supply will be the first thing people will see fail. Nobody has food enough in the house like people used to have not all that may years ago. You don't need to go all gloom and doom and have food storage for a year, but for a few weeks seems the right thing to do. It is so simple and it even relieves you some times from shopping.

A lot of things are going "hockeystick", that makes timing very difficult if not impossible.

just make sure you build a large enough surplus when the going is good to easily survive the times when it goes bad. Multiple residences is one of those things that can really help.

Edited November 14, 2012 by Naam

[midas]

Why is it that the end of the world team seem to have no basic understanding of economics?

even after years of "amusement" i am still reading quite embarrassing statements and/or theories in this thread. to my surprise even from people who seem to have had some financial success... assuming you can trust their claims. sometimes it's so bad that i can't decide whether to be amused or cry with sympathy

p.s. the above-mentioned also applies for the thread "when is Gold rocketing skyhigh?"

as usual absolutely nothing of interest from the two members of the peanut gallery.

I'm also surprised at how people can claim they were once scientists and expect us to believe that when their ONLY contribution for the past 3 + years has been constant flaming and trolling

Oh ......and bragging about ones personal achievements.......

And during the first part of this thread even claim there was no financial crisis

Very " scientific " !

Naam ...... He has to hear from his bankers .......and as usual they are the last to know ...

UBS: 1000% Inflation Is Perfectly Acceptable...

http://www.businessinsider.com/ubs-1000-inflation-is-perfectly-acceptable-2012-11

[Naam]

UBS: 1000% Inflation Is Perfectly Acceptable...

http://www.businessi...eptable-2012-11

"UBS Chief Economist Larry Hatheway suggests that even 1000 percent inflation can be manageable as long as people see it coming."

"1000% inflation is perfectly acceptable, as long as the 1000% inflation rate is stable at 1000%, and it is anticipated."

that's of course too much too comprehend for a doom&gloomer who is busy soiling his pants

[Khun Jean]

UBS: 1000% Inflation Is Perfectly Acceptable...

http://www.businessi...eptable-2012-11

"UBS Chief Economist Larry Hatheway suggests that even 1000 percent inflation can be manageable as long as people see it coming."

"1000% inflation is perfectly acceptable, as long as the 1000% inflation rate is stable at 1000%, and it is anticipated."

that's of course too much too comprehend for a doom&gloomer who is busy soiling his pants

If he could put a date on it, i would welcome it.

But that is the problem, nobody knows when and if it will happen. Everybody will be surprised if it does happen.

I hope i positioned myself that it will be pretty irrelevant if it happens.

[Naam]

UBS: 1000% Inflation Is Perfectly Acceptable...

http://www.businessi...eptable-2012-11

"UBS Chief Economist Larry Hatheway suggests that even 1000 percent inflation can be manageable as long as people see it coming."

"1000% inflation is perfectly acceptable, as long as the 1000% inflation rate is stable at 1000%, and it is anticipated."

that's of course too much too comprehend for a doom&gloomer who is busy soiling his pants

If he could put a date on it, i would welcome it.

But that is the problem, nobody knows when and if it will happen. Everybody will be surprised if it does happen.

I hope i positioned myself that it will be pretty irrelevant if it happens.

relax KJ, 1000% inflation does not appear overnight... except in wet dreams

[midas]

UBS: 1000% Inflation Is Perfectly Acceptable...

http://www.businessi...eptable-2012-11

"UBS Chief Economist Larry Hatheway suggests that even 1000 percent inflation can be manageable as long as people see it coming."

"1000% inflation is perfectly acceptable, as long as the 1000% inflation rate is stable at 1000%, and it is anticipated."

that's of course too much too comprehend for a doom&gloomer who is busy soiling his pants

If he could put a date on it, i would welcome it.

But that is the problem, nobody knows when and if it will happen. Everybody will be surprised if it does happen.

I hope i positioned myself that it will be pretty irrelevant if it happens.

[mccw]

UBS: 1000% Inflation Is Perfectly Acceptable...

http://www.businessi...eptable-2012-11

"UBS Chief Economist Larry Hatheway suggests that even 1000 percent inflation can be manageable as long as people see it coming."

"1000% inflation is perfectly acceptable, as long as the 1000% inflation rate is stable at 1000%, and it is anticipated."

that's of course too much too comprehend for a doom&gloomer who is busy soiling his pants

Sure he means manageable from the point of view of the bank; ie they know how to position themselves for it IF they see it coming. But for average man on the street it would be totally devastating. When I happens and the rush to the real safety's of PMs begins it could be easy to miss out. That's why I'd rather hold PM than money in the bank. In such a scenario the paper representations of PMs would probably split and crash from the physical market.

[Naam]

UBS: 1000% Inflation Is Perfectly Acceptable...

http://www.businessi...eptable-2012-11

"UBS Chief Economist Larry Hatheway suggests that even 1000 percent inflation can be manageable as long as people see it coming."

"1000% inflation is perfectly acceptable, as long as the 1000% inflation rate is stable at 1000%, and it is anticipated."

that's of course too much too comprehend for a doom&gloomer who is busy soiling his pants

Sure he means manageable from the point of view of the bank; ie they know how to position themselves for it IF they see it coming. But for average man on the street it would be totally devastating. When I happens and the rush to the real safety's of PMs begins it could be easy to miss out. That's why I'd rather hold PM than money in the bank. In such a scenario the paper representations of PMs would probably split and crash from the physical market.

"he means... they know how IF... would be... could be... would probably..." = assumptions, assumptions, assumptions... unfortunately............. no facts.

[Naam]

fast effects of massive hyperinflation from you independent source "Silver-Investor.com"

the diction "massive hyperinflation" alone speaks volumes and indicates clearly for which audience it is meant

[midas]

UBS: 1000% Inflation Is Perfectly Acceptable...

http://www.businessi...eptable-2012-11

"UBS Chief Economist Larry Hatheway suggests that even 1000 percent inflation can be manageable as long as people see it coming."

"1000% inflation is perfectly acceptable, as long as the 1000% inflation rate is stable at 1000%, and it is anticipated."

that's of course too much too comprehend for a doom&gloomer who is busy soiling his pants

Sure he means manageable from the point of view of the bank; ie they know how to position themselves for it IF they see it coming. But for average man on the street it would be totally devastating. When I happens and the rush to the real safety's of PMs begins it could be easy to miss out. That's why I'd rather hold PM than money in the bank. In such a scenario the paper representations of PMs would probably split and crash from the physical market.

"he means... they know how IF... would be... could be... would probably..." = assumptions, assumptions, assumptions... unfortunately............. no facts.

What and “can be manageable as long as “ and “as long as the 1000% inflation rate is stable at 1000% “ are not also assumptions “?

“ no facts “ - from the person who never gives facts himself and sits in Pattaya declaring the rest of the world knows nothing

“high inflation tends to be associated with high inflation volatility and uncertainty (and that is true empirically), but economically it is the volatility and uncertainty that does most of the damage. “

Edited November 14, 2012 by midas

[waza]

The way i see it is that by using incredible large amounts of freshly printed money (or actually numbers in a computer) we were given time to prepare.

Wealthy people know that especially the ones that have multi generational wealth. Economies always goes up and down, just make sure you build a large enough surplus when the going is good to easily survive the times when it goes bad. Multiple residences is one of those things that can really help. Economy tough in the west, move east.

I 'prepared' by living in Thailand and keep most money i earn instead of paying almost 85% of it in all kinds of different taxes. Living very close to food sources is also a good thing.

The whole just in time system is very sensitive to small disruptions and food supply will be the first thing people will see fail. Nobody has food enough in the house like people used to have not all that may years ago. You don't need to go all gloom and doom and have food storage for a year, but for a few weeks seems the right thing to do. It is so simple and it even relieves you some times from shopping.

A lot of things are going "hockeystick", that makes timing very difficult if not impossible.

just make sure you build a large enough surplus when the going is good to easily survive the times when it goes bad. Multiple residences is one of those things that can really help.

Thats assuming you can freely travel between those residences, You may just have to sit on your porch picking off the starving hordes as they climb your fence because your guard dogs look like a tasty meal.

[mccw]

fast effects of massive hyperinflation from you independent source "Silver-Investor.com"

the diction "massive hyperinflation" alone speaks volumes and indicates clearly for which audience it is meant

Although the vid is made by silver investor the content is FACT. It's up to the viewer to then think about if possible to have such an inflation with dollar or € or what ever.

On the topic of assumptions - you are seriously "assuming" 1000% inflation is "manageable" for normal people or society?

"Could be" is in the future so of course "could be" or "would be" are the words since no one has a clear crystal ball. This is why its better to plan ahead for all possible scenarios based on personally researched risk assessments; rather than indulge with head in the sand, it'll be alright on the night jack, government/banks /system can "manage 1000% inflation" delusions ; seriously lost zee marbles old man!

Further more; your idea of building up a big cushioning is all well and fine if its a good hard physical one; but if your just building a mountain of paper then may as well be air in some of these potential scenarios the worlds looking at right now.

I know you've said you have a stock of physical bullion so obviously you recognise there are serious risks; so its really odd for you to then spout so much rubbish like "1000% inflation is totally manageable" , while poo pooing people debating and linking informations about these risks which you yourself are well prepared for "just in case"- or maybe you are not prepared! in denial and worried sick, clinging to the teet of financial mother market, wishing her to live forever; would explain a lot of the schizophrenia exhibited .

[Naam]

On the topic of assumptions - you are seriously "assuming" 1000% inflation is "manageable" for normal people or society?

the usual typical and deliberate distortion of facts "Midas style". if in defense and cornered just claim any bullshit without evidence. i did not assume anything, a UBS banker was thinking aloud.

and you, [not so] Honourable Sir Mccw, Esq. knew that because you referred to it in your posting #12564

keep up the good job ridiculing yourself. you lack the minimum qualifications to bullsh*t others