If the energy "crisis" is gradually phased in an orderly manner, i think getting rid of or limiting the use of energy intensive devices like computers/internet, mobile phones, television etc will be a good thing. Families can read. talk and gather around the radio for entertainment. Community spirit and community based activities will hopefully return stronger than ever. People can travel on boats and trains instead of cars and planes. Workers will actually be doing work. Old trades will revive and self sufficiency and frugalness (not excess) will be the order of the day. And with the advances in medicine, i could easily adapt to this kind of life.
I'm always up for a little mental gymnastics but how in the world did you manage to bring Iran into a comment about US $ devaluation and US dominance of the world financial system? Is Iran now angling to challenge US financial suppremacy of the world along with pointing its many imaginary nuclear weapons at the USA and being a supposed challenge to US security??!! LOL sorry mate, but where in the world did that one come from?
Wish for a return to an ignorant fiat normality. Ultimately, it's all about accumulating more wealth and assets. So, converting metals to land and blue undies makes sense.
Well Russia seems to be doing quite nicely, Belarus has devalued its currency recently and had to bring out an entire new currency after they started bringing out 1,000,000 notes, never a good sign, Georgia also brought out 1,000,000 notes. Transinistra, reprinted notes with extra zeros, it isn't all rosey in the former Soviet empire, I think Russia was carrying a lot of them and after the end of the Soviet Republic a lot of the dead wood was cut off, no offence to anyone from the former Soviet Union. They also have a lot of TB in the country, massive overcrowding etc.etc. Financially some are recovering afaik. The rest...not so much
What has PM value got to do with a crash in the USD? Well if the US Dollar crashes then where are investors and the gerneral public going to put there money into? Looking at history its going to be gold and silver. But the USD will only tank if the rest of the world wills it so. Well I think there will come a day when the world will stop funding the US debt machine. Look at China and other countries who are diversifying their wealth in precious metals, land etc because they know they will come a day of reckoning with the US dollar.
How about we leave this response to the politicians. They're experts at it and I reckon competing against them in their area of expertise is a waste of time.
Thanks Jislizard. It was Russia that I was drawing attention to rather than the other states in the former Soviet Union. As you point out, Russia seems to be doing quite nicely.
It will be deceptive, look at US treasuries, yields have been destroyed as they have been viewed as a store of safety(price is obviously up). What is liquidity? When you see a sustained movement where both the US dollar and Gold rise in conjunction against all other asset classes, then keep your eyes open, you will be watching a battle for liquidity, will it be the dollar or gold that wins? Gold will be the ultimate mechanism of liquidity, silver will ride its coat tails and at times even outperform. Nobody want the dollar reserve staus to end, but it has begun, vis a vis china/russia dealing with their own currencies, china/japan now openly utilizing their bond markets, there are other examples. It will take time. The only dollar that matters is the petro dollar, moves have already been made to bypass it by some countries. This is a silver forum, watch the ratio to gold, and consider swapping at some point, that is, buy cheap gold. There can be only one. DYOD.
Transfer from silver to real estate. Hopeing for a real estate correction round about the same time. Matter of fact im banking on it. Too optomistic?
