'Panic situation' - Asian stocks tumble amid fears of global recession

DanielM · Feb 9, 2016

SilverDJ said:

Miloman said:

whinfell said:

Lol - and what exactly are you going to do when the SHTF? Celebrate?
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100%.
People just don't think of the consequence, they stupidly think that Precious Metals will make them rich. Greed truly blinds people to the reality.
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Anyone who thinks PM's can "make them rich" is an idiot.
Even if you took the biggest growth peak in gold in the last 40 years, from 2001 to 2012, it's only a 720% increase.
Even $100k in gold and buying and selling at exactly the right time would have yielded you only 7.2 times your money (not accounting for inflation), or $720k which would barely have bought you a decent house in Sydney in 2012.
Silver did a tad better at x10 return.
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It wouldn't be $720k because umm where does the tax man fit into your equation? He wants his cut

SilverDJ · Feb 9, 2016

DanielM said:

It wouldn't be $720k because umm where does the tax man fit into your equation? He wants his cut
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Yes, before tax of course.

sammysilver · Feb 9, 2016

Of course!

Court Jester · Feb 9, 2016

TheEnd said:

O.k I apologise for that comment and I don't 'hope' that the SHTF happens.

It's just that talk of this coming crisis has been around for years now and it never actually happens.
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Talking about SHTF have you actually managed to get and hold onto a job yet, you dont seem to be posting as much lately.

Court Jester · Feb 9, 2016

tozak said:

SilverDJ said:

tozak said:

You can't measure something in multiples if it starts in one currency but ends in a different currency
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Who's talking about that?
I buy and sell PM's in AUD only, and I live in Australia only paying AUD for almost everything in my daily life.
The only thing that matters to "make me rich" is how much return I get on my PM investment in AUD, and in what time frame, and in what reference frame of inflation.
If you are in some hyper-inflation country YMMV.
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The price of the metals are based on a trading platform based on the petro-dollar, who knows if we will still be using Australia dollars if/when the petro-dollar losses world reserve status? I never bought the metals for the small moves, your correct in saying those sort of moves will never make you rich, what will is when a re-evaluation of global debt is done. I expect a major revaluation of the metals at some point, but who knows the time-frame on that? a year, a decade, 2 decades? Whenever that does happen though you wont need much to be rich, however the world might be in such a bad state that you may be rich but have little freedom.
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maybe 200 decades

historically the price of silver has not changed over 2000 years with approximately the same buying power back then as today. It has been a pretty long sideways run.

TheEnd · Feb 10, 2016

Court Jester said:

TheEnd said:

O.k I apologise for that comment and I don't 'hope' that the SHTF happens.

It's just that talk of this coming crisis has been around for years now and it never actually happens.
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Talking about SHTF have you actually managed to get and hold onto a job yet, you dont seem to be posting as much lately.
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Just waiting for a reply about a job interview i went for last week.

If i dont get the job i will be back to square one sending out resumes again.

willrocks · Feb 10, 2016

Skyrocket · Feb 10, 2016

^ That should be The End's avatar

silversearcher · Feb 10, 2016

I'm investing in companies that make fans and ceiling paint.

col0016 · Feb 10, 2016

Court Jester said:

tozak said:

SilverDJ said:

Who's talking about that?
I buy and sell PM's in AUD only, and I live in Australia only paying AUD for almost everything in my daily life.
The only thing that matters to "make me rich" is how much return I get on my PM investment in AUD, and in what time frame, and in what reference frame of inflation.
If you are in some hyper-inflation country YMMV.
Click to expand...

The price of the metals are based on a trading platform based on the petro-dollar, who knows if we will still be using Australia dollars if/when the petro-dollar losses world reserve status? I never bought the metals for the small moves, your correct in saying those sort of moves will never make you rich, what will is when a re-evaluation of global debt is done. I expect a major revaluation of the metals at some point, but who knows the time-frame on that? a year, a decade, 2 decades? Whenever that does happen though you wont need much to be rich, however the world might be in such a bad state that you may be rich but have little freedom.
Click to expand...

maybe 200 decades

historically the price of silver has not changed over 2000 years with approximately the same buying power back then as today. It has been a pretty long sideways run.
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Surely an ounce of silver would have bought you far more 2000 years ago than now? Now it can only get you a parma and chips or less.

alor · Feb 10, 2016

best investment would be a solid gas musk when the poison gas killed all the people, there the musk wearer can strike and pick up all the gold chains

there are more money to be made and at a faster rate, when short selling the index and picking the lemon brothers to shit on.

Court Jester · Feb 10, 2016

col0016 said:

Court Jester said:

tozak said:

The price of the metals are based on a trading platform based on the petro-dollar, who knows if we will still be using Australia dollars if/when the petro-dollar losses world reserve status? I never bought the metals for the small moves, your correct in saying those sort of moves will never make you rich, what will is when a re-evaluation of global debt is done. I expect a major revaluation of the metals at some point, but who knows the time-frame on that? a year, a decade, 2 decades? Whenever that does happen though you wont need much to be rich, however the world might be in such a bad state that you may be rich but have little freedom.
Click to expand...

maybe 200 decades

historically the price of silver has not changed over 2000 years with approximately the same buying power back then as today. It has been a pretty long sideways run.
Click to expand...

Surely an ounce of silver would have bought you far more 2000 years ago than now? Now it can only get you a parma and chips or less.
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nope it has approximately the same purchasing power today as 2000 years ago.

December 16, 2015

Byron Bay, Australia

Thousands of years ago in ancient city of Babylon, specially trained scribes gathered each day in the Temple of Marduk to record the day's events.

They used cuneiform writing instruments and clay tablets, over 1200 of which still survive today.

These scribes kept excellent records, detailing astronomical observances and water levels of the Euphrates River, as well as market prices for the most popular commodities like wheat, barley, and wool.

It's incredible that we have detailed records of grain prices going back thousands of years.

The ancient Babylonians quoted grain prices in shekels, a unit of weight equivalent to 8.33 grams of silver.

Over the 3+ century period between 384 BC and 60 BC, for example, the price of barley averaged 0.02053 shekels per quart in Babylonia.

At 8.33 grams per shekel, this would be equivalent to about 0.171 grams of silver per quart, or about $3.75 based on today's silver price.

After converting the unit of measurement from ancient quart to modern hundredweight (cwt), that means that barley in Babylonian times sold for $5.23 per cwt when priced in today's dollars.

And according to the US Department of Agriculture, yesterday's price for barley was $5.25 per cwt.

Amazing. When denominated in silver, the price of barley is almost exactly the same as it was thousands of years ago.

In other words, if a farmer from 23 centuries ago had sold a quart of barley, he would have received 0.171 grams of silver.

Fast forward to today and that 0.171 grams of silver would buy almost the exact same amount of grain as it did 23 centuries ago.

This is an important reminder, especially today as the entire financial system waits with baited breath to see if the US Federal Reserve will raise interest rates for the first time in nearly a decade.

It's ultimately a complete farce. Our entire financial system is based on awarding total control of our money to a tiny, unelected committee of bureaucrats.

They have the power to conjure trillions of dollars, euros, yen, pounds, renminbi, etc. out of thin air that are backed by absolutely nothing other than a thin veneer of confidence.

Civilizations have been experimenting with this model for thousands of years. And every single time it has failed.

Future historians will certainly wonder why we chose a financial system based on a model with such a long history of failure, and why we gave control of our savings and economic activity to unelected bureaucrats who are consistently wrong.

When you step back and look at the big picture, this system is totally mad. And full of risk.

Governments are insolvent. Central banks are nearly insolvent. Banking systems are extremely illiquid. National pension funds are insolvent.

And their solution is to keep borrowing and printing more money.

Look, holding some physical cash does make sense right now as a *short-term* hedge against risks in the financial system.

If the GFC 2.0 hits, you'll be glad that you're holding some physical cash (more on this soon).

But how much do you think your paper currency will be worth 23 centuries from now? Or even 23 years? Or potentially even 23 months?

Bottom line-- you're not protected unless you own some real assets. Gold. Silver. Land. Productive business. This should be part of any rational person's Plan B.
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'Panic situation' - Asian stocks tumble amid fears of global recession

DanielM Active Member Silver Stacker

SilverDJ Well-Known Member

sammysilver Well-Known Member Silver Stacker

Court Jester Well-Known Member Silver Stacker

Court Jester Well-Known Member Silver Stacker

TheEnd Well-Known Member

willrocks Well-Known Member Silver Stacker

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'Panic situation' - Asian stocks tumble amid fears of global recession

DanielM Active Member Silver Stacker

SilverDJ Well-Known Member

sammysilver Well-Known Member Silver Stacker

Court Jester Well-Known Member Silver Stacker

Court Jester Well-Known Member Silver Stacker

TheEnd Well-Known Member

willrocks Well-Known Member Silver Stacker

Skyrocket Well-Known Member Silver Stacker

silversearcher Active Member Silver Stacker

col0016 Active Member

alor Well-Known Member Silver Stacker

Court Jester Well-Known Member Silver Stacker

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