How do you figure. If she does it right she never has to lose.
Trying to argue with people who don't believe in the "collapse"
- Thread starter TreasureHunter
- Start date
gold can go down as well and the potential upside is mch smaller + there are other risks or costs (storage) and the lump of metal does not pay a dividend.
Yep. I'd take it a step further and say that anything other than cash is a gamble in the current environment.
in the great depression, 30% of people un-employed, but you could be talking to the wrong people who are in the 70% group
when in the middle of covid-19. there are musk makers billionaire made right under the many closing shops that may never be re-open again
when in the middle of covid-19. there are musk makers billionaire made right under the many closing shops that may never be re-open again
the great depression was a financial crisis Covid-19 IS NOT THIS
Which led to the collapse in demand. Which led to a supply side collapse. Which led to mass unemployment.
Covid has triggered a supply side and demand side shock. And if it drags on too long, how will the outcome differ?
Edit : And I'm not actually arguing there will be a collapse, just that the effects / outcomes could potentially be the same.
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Gresham's Law
Member
Be careful about the advice you give your Mother. Selling shares, when the market is this fearful, is usually a bad idea in the long run. With the market down 25-30% already, she might be better off leaving things alone.
We could be at the start of a grim bear market (like 2000 or 2008) which would mean a decline (from the peak) of about 50% over a period of about 18 months, or the market could be recovering again in a few months. No one can know where the market will be in a year's time.
It was months ago I was telling her to sell, almost a year maybe. It was before gold went up.
She could have sold at almost the high and bought gold then watched her gold go up.
Instead of losing so much already.
Not a huge deal and it's not my money but a lesson learned.
Just following topic.
She could have sold at almost the high and bought gold then watched her gold go up.
Instead of losing so much already.
Not a huge deal and it's not my money but a lesson learned.
Just following topic.
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Buy gold when it was $1250.
Capital gains is a whole other beast. What a scam that can be!
if she sold a year ago and bought gold she would STILL be behind
This is the 6 Million $$ question. Don't buy shares, they go down. Don't buy gold or silver because they can go down too. Don't put it in the bank because of bail-in laws. Don't by bonds because they are heading to negative interest rates. Don't put it under your bed because then a drug addict home invader will kill you and steal your money. To be honest, I have never seen this situation in my life before, especially the low/zero interest rates part.
A bit of everything might the go but right now the only thing we have in our favour is the Government Guarantee of 250K per person per bank account and some people are saying that won't work either. So who knows
there simply wont be any bank bail ins here in Australia and I dont have a doubt the gov guarantee would be fineThis is the 6 Million $$ question. Don't buy shares, they go down. Don't buy gold or silver because they can go down too. Don't put it in the bank because of bail-in laws. Don't by bonds because they are heading to negative interest rates. Don't put it under your bed because then a drug addict home invader will kill you and steal your money. To be honest, I have never seen this situation in my life before, especially the low/zero interest rates part.
A bit of everything might the go but right now the only thing we have in our favour is the Government Guarantee of 250K per person per bank account and some people are saying that won't work either. So who knows
TreasureHunter
Well-Known Member
Cash is king during the Corona madness. I think bank crises and severe economic downturn will implicate inflation AFTER this madness ends. Or: if it doesn't end by early May, then we will see the massive economic problems earlier.
What I want to say is that even the numb & dumber sheeple will FEEL IT ON THEIR SKIN. And that's when PM's will be king.
Again, I'm perplexed and not quite sure why gold and silver have gone so much down.
Perhaps because trading volume went down and perhaps because people started selling (profit taking).
Sorry @TreasureHunter could you just clarify your "FEEL IT ON THEIR SKIN" comment. Does that refer to after all sunscreen is sold out or the dags all the sheeple will have due to no dunny paper.
Reckon you are spot on about metals price drop due to low volume magnifying profit taking. World markets all falling off financial cliffs last week is totally irrelevant.
Reckon you are spot on about metals price drop due to low volume magnifying profit taking. World markets all falling off financial cliffs last week is totally irrelevant.
Before January, no one will think that a pandemic where China imposes medieval style quarantines, nailing people into their homes is possible. Moving forward, we'll witness the "impossible" become possible.
Even with the FDIC guarantee here in america it could take years to get your money.
Aus and american bail ins will probably be at about the same time.
Along with others.
Aus and american bail ins will probably be at about the same time.
Along with others.
No I could envision that scenario
a Run on the banks and a bank collapsing here in Australia is pratically impossible