The ugly elephant in the room that the government and media ignore.

Discussion in 'Markets & Economies' started by Shaddam IV, Mar 31, 2020.

  1. heartastack

    heartastack Well-Known Member Silver Stacker

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    My boss in NZ got a text from police saying he needed to confirm geolocation (link was in the message) to ensure isolation was being complied to. Chipping is logical next step.

    I know most people carry their phones but it shouldn’t be illegal not to wtf
     
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  2. Holdfast

    Holdfast Well-Known Member Silver Stacker

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    PE ratios are going to be in the trash bin but still the market bounces back. :eek:

    A Tsunami of grief is building for those folk holding stocks, even blue-chip stocks imo. I wonder if folk remember how many banks went under in 2007 -2008 Our banking system (Australia) isn't immune, we are tied to the "world-banking-system".

    Meanwhile, in the community there is an eerie feeling, one that has never been upon us, a feeling that's indescribable, a feeling of change perhaps, or maybe of what to do?

    The algorithms of trade are still in play, but, just like the paper gold market, vs the physical gold market, folk will wake up one day to realise there stocks have evaporated into thin air, maybe there will be a grace period due to the US Summer, but I fear, the US Winter will bring stock-market capitulation.

    As for physical? I think metal is the place to be but silver might take a huge hit when market capitulation starts, gold might get dragged down too but, the re-bound could be spectacular.

    Gold And Silver Tidal Wave.JPG

    PS:
    Funds for mining exploration is going to dry-up.
    When the money dries up, what then, who is going to lend to explorers or spec miners?
     
    Last edited: Apr 1, 2020
    66rounds likes this.
  3. Court Jester

    Court Jester Well-Known Member Silver Stacker

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    and how many AUSTRALIAN banks wen under in 07/08 exactly? please enlightin me
     
  4. reaver

    reaver Active Member

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    NAB and Westpac were essentially bailed out.
    https://www.moneymorning.com.au/20101203/nab-and-westpacs-secret-bailout-revealed.html
    "
    two Australian banks collapsing in 2008 if they hadn’t secured a secret loan from the US Federal Reserve.

    The fact that National Australia Bank [ASX: NAB] had to borrow USD$4.5 billion from the US Federal Reserve during 2008 and 2009.

    And Westpac Banking Corp [ASX: WBC] needed USD$1.09 billion in January of 2008 and 2009.

    "

    While they didn't exactly "wen under", you may feel a little more 'enlightened'.
     
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  5. Holdfast

    Holdfast Well-Known Member Silver Stacker

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  6. Court Jester

    Court Jester Well-Known Member Silver Stacker

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    so they didnt dgo under is what your saying -- ok got it
     
  7. bubblebobble2

    bubblebobble2 Well-Known Member Silver Stacker

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  8. harry_mr

    harry_mr Active Member

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    Holdfast and Shaddam IV like this.
  9. Court Jester

    Court Jester Well-Known Member Silver Stacker

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  10. 66rounds

    66rounds Well-Known Member Silver Stacker

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    That explains alot.
     
  11. JohnnyBravo300

    JohnnyBravo300 Well-Known Member

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    Here's your covid19 reality. Have fun.
     
  12. Holdfast

    Holdfast Well-Known Member Silver Stacker

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    Before and after.
     
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  13. TreasureHunter

    TreasureHunter Well-Known Member

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    YES!!!

    The governments could take action: to impose lower interest rates on certain types of credits (personal need-related ones) for a limited period of time.

    Plus, they could also tax the banks a bit more.
    Call it a "social tax" and use it to feed the poor, old, sick and other needy categories during times of crisis (coming pretty soon).

    If any government would do this, they'd end up like Hungary's Orbán government: defamed, slandered, falsely accused, harassed, character-assassinated, falsely-labeled, blackmailed, ridiculed, threatened, blamed, constrained, ostracized, smeared, libeled, aspersed, vilified...

    Most governments in the "civilized" world don't serve their country/people, but the "white collar criminals": the corporatist-globalists.
     
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  14. mmm....shiney!

    mmm....shiney! Well-Known Member Silver Stacker

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    Why? Governments don't need taxes to pay for things.
     
  15. Jason1

    Jason1 Well-Known Member

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    thats some socialist shit If I ever did hear.

    Likely not the best idea tobe taxing banks harder during a financial crisis, thats like kicking a half dead horse which you would then create a higher chance of the gov then having to bail them out.
    It doesn't make much sense Collecting more money from a bank helping putting them in a position where you need to give them tax payers money to stay afloat.

    If your going tobe taxing any one harder its those multinational pricks who trade here, make billions, dont employ a single person in this country and dont pay a cent tax,
    and that isnt for any other reason than to level the play-field a little for Local businesses who do employ and pay these high taxes while multinationals dont.
    The government Should be staying as far away from adding additional taxes to onshore businesses as possible in these times.
     
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  16. Holdfast

    Holdfast Well-Known Member Silver Stacker

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    How about we increase the price of exports.
    Some of those foreigners, who love to buy our Iron, Gold, Coal, Rare-Earths, Gas should be paying a lot more. They can sprook all the BS they want about "we" will go where else-where but they can't and won't.
    Hit them for a 6.
    If the buyer wants, the buyer pays.
    They can also pay more for our rice, fish, Beef, every dang thing.

    The problem we have is a government and opposition that is so corrupt that it's mind blowing!
    Crikey, they even sold Darwin Port to the Chinese o_O(Err sorry, a 99 year lease) :rolleyes:

    In October 2015, The Northern Territory Government granted the company a 99-year lease; Ye Cheng, a billionaire has close ties to the Chinese government and the Communist Party of China.
    https://en.wikipedia.org/wiki/Port_Darwin

    Update:
    Push for Darwin Port to be nationalised to end Chinese ownership of strategic northern asset
    A Labor MP has become the first federal politician to call for the controversial Chinese lease on Darwin Port to be scrapped, so it can be placed back into Australian control.
    https://www.abc.net.au/news/2019-08-05/push-to-nationalise-darwin-port/11382422
     
    Last edited: May 4, 2020
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  17. JohnnyBravo300

    JohnnyBravo300 Well-Known Member

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    Increasing the price of exports is fair in every way. True price discovery would be found in no time and maybe the price is too low now.

    Unfortunately we dont live in a very free market world and we dont get to make these choices at all. Government sucks at everything.
     
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  18. TreasureHunter

    TreasureHunter Well-Known Member

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    You mean: they can do things for free? Coercion?
     
  19. TreasureHunter

    TreasureHunter Well-Known Member

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    No, it's not socialist. Just a thought.

    And no-one should bail any bank out.
     
  20. mmm....shiney!

    mmm....shiney! Well-Known Member Silver Stacker

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    Printer go brrr.....
     

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