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Monday, 27 July 2015

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Thygocanberra

we are all going to die (in the voice of the cartoon Liliputian).

Paul

A good comment, and not the usual deliberate contrarianism.

For my part, I think converting to some cash and keeping it outside the banking system is advisable. I also disagree that bullion is overpriced. It has been smashed down, especially recently by obvious market manipulation that probably derives from the central banks (especially the BIS) themselves. If the central banks are smashing gold to protect their fiat currencies, it just reinforces that the crash is coming. I would say hold physical bullion (not paper) and again keep it outside of the banking system.

Unfortunately I don't have a bunker (wish I did) but there is nothing wrong with keeping one's pantry several weeks ahead to deal with a small crisis. A large crisis is beyond us but I do note your caravan and recent experience in part self-sustainability. You are a potential asset. Please return before the crash.

PythonMagus

The thing about Ponzi schemes is that they do suck a lot of people in and keep going until enough people try to run away. In a sense the world began being this way when it left the gold standard behind almost 100 years ago. The issue at present too is that there is just one world economy, so there is no alternative outside a few boutique systems like barter and bitcoins.

So we just need to know a few weeks before everyone else when the next crash is coming, but if we did know, what would we do? We might short sell, as some did in 2009, but I find that morally unacceptable. We could head to our fuhrer bunker to wait out the cataclysm, but there is not likely to be a cataclysm, just a serious write down. We could convert our assets to cash, but then will need to put in into a bank that will not fail. If we put it in our mattresses, I am sure we will get listed as terrorists. We could buy bullion, but I suggest that that too is massively over priced right now.

What is your suggestion, beyond getting out of the stock market?

BTW, what is the latest S&T? I am in the bush and have to wait another month for my yellow envelope.

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