A new financial order

Quote from HomoSalmon:

Could you elaborate on that?
I'm curious.
Maybe take as example a guy with a quarter million in TBT. What he can do?
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Get out of paper and get into real assets. Do a study of Argentina and what happened during the devaluation. Real goods were very sought out for.

I think the best thing some with capital can do right now is secure the basic needs for themselves & their families. You don't want to wake up one day and realize that your investment have lost 90% of their value.
 
Quote from gnome:

Many shallow thinking responders will say something like "just have your assets in a place to benefit from the inflation and/or currency devaluation... and you can take advantage of it.. in fact, make a TON of money".... the REALITY is that the task is so overwhelming that it's virtually impossible. The ONLY way to preserve wealth is to have your money somewhere which is NOT denominated in the currency being destroyed.
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You have no idea what you're talking about, so just STFU.

There are always profiteers during financial distress, war & disasters. And those who produce real goods vital to the community are looked out for.
 
Not for the moment because the financial industry is "stuck". Rarely anyone can absorb more debt.

However our type of capitalism (if we still have one) is bubble economics and at some point in the future we will have inflation and/or asset inflation. But not for the moment.

Quote from PAPA ROACH:

Not saying I agree or disagree, but why would you think we will not? After all, an assets value is is just a floating attachment based on paper right? Looking back at history, there have been extreme price volatility on static assets, it's just an attached valuation right?
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gnome- I have lived in Turkey for brief periods and your devaluation story isn't entirely correct from what I remember.

Any big purchases above $250 usd have always involved using USD to pay for them. The Turkish Lira is a flawed currency and people knew that.

People did not lose 98% of their worth during that crisis.

Before the crisis, the lira was already at 1-2 million lira / USD, in 2005 they cut off six zeros for the new lira notes to provide a psychological incentive for people to believe the economy had finally improved, which it had.
 
Quote from jueco2005:


However our type of capitalism (if we still have one) is bubble economics and at some point in the future we will have inflation and/or asset inflation. But not for the moment.
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Pay close attention to food prices, inflation is very much alive & kicking where it counts.
 
Quote from psytrade:

gnome- I have lived in Turkey for brief periods and your devaluation story isn't entirely correct from what I remember.

Any big purchases above $250 usd have always involved using USD to pay for them. The Turkish Lira is a flawed currency and people knew that.

People did not lose 98% of their worth during that crisis.

Before the crisis, the lira was already at 1-2 million lira / USD, in 2005 they cut off six zeros for the new lira notes to provide a psychological incentive for people to believe the economy had finally improved, which it had.
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I think you're wrong.

1. Your comment about "purchases >$250.." is completely irrelevant.

2. Most people DID lose 98% of their buying power in the devaluation... even if they made 2 Million %. ($1 grew to $20,000 in the 2 million % runup. But after the devaluation, $20,000/1,000,000 = $.02. Or, 2%.... that is, their original $1 now had 2% of it's original buying power.... even less, after capital gains tax, if any. So... where did all of that "loss of buying power" go? Did it just evaporate, or what? No, it inured to government and their reckless, selfish spending/lining their own pockets.)

I know... hard to believe, hard to accept. Even harder to accept, it's "coming to Amerika...", but hopefully in a lesser form.
 
gnome-

ok whatever

I'll let you know next time I go there.

In the meantime, Yapi Kredi, Eregli and Turkcell are good for me.
 
Quote from psytrade:

gnome-

ok whatever

I'll let you know next time I go there.

In the meantime, Yapi Kredi, Eregli and Turkcell are good for me.
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Is that native cuisine or hookers you've known? :D
 
Quote from gnome:

The ONLY way to preserve wealth is to have your money somewhere which is NOT denominated in the currency being destroyed.
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This is my feeling, too. But if one believe devaluation will be driven for all important currencies (US$, EUR, YEN) at the same time (maybe at different levels, but who knows?) how can you stay out of all "strong" currencies?

The only leader's perceived way out of crisis seems destroying savings (both made by true labour and/or by speculation) to cover debtors and give a new start to the system, IMHO. If people really understand what mess they did and probably they're trying to do they're doomed. So deny any evidence and trick everyone seems they only way out.

Anyone has a good interpretation or any fact to oppose to this way of thinking?
 
Quote from Anaconda:

Get out of paper and get into real assets. Do a study of Argentina and what happened during the devaluation. Real goods were very sought out for.
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Any good link to start with?


I think the best thing some with capital can do right now is secure the basic needs for themselves & their families. You don't want to wake up one day and realize that your investment have lost 90% of their value.
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Agricultural land?
Do you really think we're so deep in s***t?
What else?
 
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