During world war 2, Germans would say "if we go down, we will take the world, down with us" I suffered loss of $10,000 in gold and silver trading when 90% of my trades were "buy" but I always say "6 billion people have silver and gold". So I have suffered loss, it means everybody has suffered losses. Giant banks and companies are in worse position than me.
The only reason people are moving in cars, going on vacations, young people fooling around, is that people have physical gold and silver. Everybody says gold and silver price will go up (back to high) in 2 days. But I do not see that till now on computer and TV screen.
Geez, so many people crying in their beer these days. Does anyone understand the fundamentals of investing? Ok, most on here do, that's certain, but so many seem to have no idea what they are doing and end up disappointed, or worse. When the stock market takes a dive the same crowd will be howling about that as if it never happens and was completely unexpected.
Yes lol, it's so obvious, same heights as 2008 everywhere, and what changed over the 5 years except for again more government issued crap? I had silver for 3 months and in that period the price was driven up $19, and if you said that this had to end in a big dump you were ridiculized upto laughed with and told that you knew nothing about 'market fundamentals'. And then the dump started and all of sudden the same crowd started to talk about broken supports, pennants, breakdown triangles, deflation and 2008 is coming back market fundamentals. I learnt a good lesson there, and without having bought any in that $31 to $50 range, for the obvious reason that others denied. And the government tries to do the same, they are scare mongering bank depositors all they can, they use the media to make them look evil (yesterday the EU central planners said that my country had record bank deposits while 50% of its families can't save a penny, that 10% has 2800, 50% 206200 and 10% 705100, as to state that 'welfare' is extremely inequally distributed. The % that borrowed for a house/whatever at cheapskate intrest rates, heavily fiscally encouraged by government, while still having large bank deposits so borrowing actually not needed, wasn't part of the central planning thieves' survey.
The vast majority of people out there don't know almost anything about precious metals. The stackers & investors are very few, indeed. Most people are still spending on beer, clubs, useless items that they don't really need, not knowing that a global economic catastrophe is looming. Yet, I still hope it won't happen, it won't be that bad and eventually we'll all smile after it's gone Hope dies the last Step-by-step it is unwinding, year-by-year we see more and more countries entering recession, more and more financial institutions going bankrupt, more and more jobless youth, spreading riots, tighter "austerity measures"... Those who invest wisely and invest early enough will be able to survive this crisis. I say: don't buy anything you don't really need. Focus on saving, creating financial safety for the long term. But then again, you have to live, don't tighten the belt too much or you'll ruin your life... a bit of fun, travel once in a while is a "must have", especially if you're young B)
Yes, absolutely! The latest here in Australia is the plummeting interest rates foisted by the Reserve Bank in order to re inflate the property market, forcing yet another generation into crippling debt slavery. There is no shortage of gullible young people going into massive debt for insanely inflated real estate, blissfully unaware of the danger this con is placing them in. It took a while but Australia has apparently now been fully admitted into the economic loony asylum. How short people's memories are that only a few years ago we were staring into a fiscal abyss and nothing has been resolved but they happily go along again like lambs to the slaughter. Personally I am very fearful of what the future holds. Not so much for myself but for my children. Meanwhile the fat cats are laughing their heads off, swimming in free money to speculate with at no risk to themselves but someone has to pay the piper eventually.
Your dreaming bro, nothing wrong anywhere. Kochie on sunrise keeps telling me things are great, never a better time to buy a house. So I decided PMs are bad and selling up, going to see the bank monday and get an interest only loan on a house as there is no downside to the property market. Plan on cashing in in 5yrs, should easily get 25% growth yr on yr which is going to cover the loan interest easy. Should be ok'd for a $1mill loan, no deposit, so in 5 yrs I will be sitting on a bit over 1/2 mill after capital gains........ (Did anyone make a sarcasm smiley yet?) All jokes aside, things are going to go real bad for a lot of people. There is a generation who have NEVER experianced hard times and believe the good times can never end, that investments like property have no downside risk. Yet, just about every working class family struggles to make ends meet right now, need 2 incomes to make mortage repayments, even those that havent gone out and over bought are going to be destroyed by interest rates hitting double digits. Housing is OVERPRICED against real wages. Its sad. Yet these same talking heads keep the illusion going and people buy into it because to face reality would hurt to much. All the people around me are buying houses and if you try to highlight any issues they either look at you like your crazy or tell you to your face. The future has already been sold. Baby boomers might have cashed in on way up but it will all be taken back in the blink of an eye for 90% of them at a time in their life they can least afford to start over. Nothing to worry about though.......
Just about all of us that don't have their heads buried on the sand can see that the global economy is fucked but how long will it be before the shit really hits the fan? My gut instincts tell me that there will be another great depression but this one will make the last one look like a walk in the park by comparison. But how much time have we got before things get that bad?
At least until after the german elections this year, then things will start to fall into place. My guess is 2015, things will be plane to see.
Y'know, I try to avoid directly confronting this question as I don't want to contribute to the doom merchants and there are plenty of prophets of doom around scaring the hell out of many people. Having said that, I am genuinely afraid of the potential magnitude of our current problems and how this will manifest in the near future. So much of what we see now is unprecedented in history and history has some terrible events recorded, triggered by circumstances much less severe than those we now face. So, "then what?" I don't think anyone really knows except by trying to compare this with historical precedent and consequences, of which there are none. All that could be derived from this is that the outcome will be of a potential magnitude never before seen. A depression of far greater scope than 1933? Certainly a possibility, in fact probable IMO. As for what will happen from there, again, totally unknown but it could be speculated that this has the potential to be apocalyptic. Couple this with the complacency and apathy of so many who are in complete denial of any problem existing and this just further exacerbates the problems and disrupts any attempts to deal with these issues, to avoid, or rather, reduce the impact of this looming crisis. I see the psychopaths in charge resorting to that which is always the solution throughout history. War. Forgive me for being so frank but yes, this is actually the way I see it and it is not a pretty picture.
I see a bleak future mainly due to the fact that people are willfully ignorant and apathetic. Whenever I try to pass along info to wake people up to what is happening they generally shoot the messenger and go back to watching reality and sport all the while believing that she will be right mate. Australia is not the same country as what it was during the Great Depression, at least we had some manufacturing and social cohesion back then, if she hits the fan today things will get messy. I hope things get better but its gonna take a miracle to make it so.
