Precious metals demand

Jeez, why take out a wallet in front of a unrinal? You loose bugger!

But when we had a bank outage optus/Telstra outages, cash was king at coffee shops, etc... you might as well throw the phone in the proverbial urinal then!

Even the government mouthpiece, ABC News admits that a major cyberattack could take down the banks:

"The third risk relates to a physical disruption – the threat posed by cybercrime and state-sponsored hacking should it take down major financial or economic infrastructure for an extended period."

https://www.abc.net.au/news/2024-03...view-mortgage-stress-interest-rates/103619210

 

Yea, depends on the case, mine is a simple gel one. And fair enough if you have some cash stashed at home. If you don't, like most gen z, you're farked then.

 

Alan Jones was caught out in a London toilet, but they couldn’t prosecute as he swallowed the evidence!

 

Cash is king if used properly simply holding the last few years means it drains quickly through our hands eaten up by inflation and cost of living,timing of any market very hard even if good knowledge of indicators, at least allocated cash can provide return

 

Ask someone from Turkey what they think of cash right now:
https://www.kitco.com/news/article/...-desperate-attempt-preserve-what-savings-they

 

Yeah but, but……it was so dark in there i could not tell it was a little kiddy. Even though he followed him in from outside.

 

I Remember a year or two ago gov was asking citizens to turn in their gold

 

True but similar basic principles remain just to lesser degree...if you'd held $ you lose purchasing power longer you hold, unless you hold to allocate to assets, and time market to make your cash profit. There's also the insurance and security of metals as they're a form of universal currency and globally recognised, if your countries fiat has gone to shit your $ allocated into metals still has value and always will unless such scenario renders worthless and if so $ wont be concern likely anyway

 

That's a pretty skewed way of looking at it. It's as if everyone else except the rich is not affected.
Have you thought about:
-Pensioners
-Uni students (or any young people)
-Renters
-singles and divorced people
-small business owners.
-dole blusgers... lol

insurance, energy, basic staples are all up double digits.

The thing with inflation is that Everyone pays the price. You talk as if mortgage holders are the only ones suffering. Debtors of all kind suffer (the rich try to be net creditors, not debtors), as a tightening in the money supply is required to tame inflation, and TBH, they haven't done the job at all. Just look at the white hot housing market and a 3.7% unemployment rate.

 

Seems like renters are the ones getting hit the hardest atm. Mortgage holders can always restructure their debt to something more manageable, renters can't.
It will take an extreme scenario for a bank to foreclose on a home owner, but a landlord will happily and quickly kick out a renter if they fall into financial hardship.

Imagine a tenant asking their landlord to drop the rent down from $700pw to $600, that will never happen, but that discussion can happen for a mortgage holder with a bank, as a bank can reduce the rate and extend the repayment term.

 

They seem to pick and choose when to implement economic management, so they haven't completely abandoned their responsibility (to theirself). Though you can say they have completely abandoned their competent management of the economy in the interest of the people.

 

I've been homeless mate and have given cash to many over time from sunshine coast to byron bay etc,etc many times theyre happy with a ciggy if smart enough,educated or willing to learn some may take the gold as luckily enough theres soup kitchens and charities with food parcels. When i lost my job afew years back and was struggling i swallowed pride a bitter meal thats hard to digest and had to use these services too. Your 100% right but some may take gold to convert if you could get a lil more fiat for it...others would take something else as long as they can eat then have higher priorities. In warmer mths many homeless are actually there by choice as lifestyle allows for more pursuits of what they value.

 

Are SMB business owners somehow immune to interest rates? People with car loans, personal loans, too. Why this narrow focus on mortgages? It is the cost of borrowing money, period. If I am wrong, can you explain your position?