Von Greyerz: In The End The Dollar Goes To Zero & The US Defaults

[VicBee]

The original point, was 77 years time. Given that we both be dead in 77 years. Its going to be any great grandkids who will be crashing out.
I think they will prefer to inherit real estate and gold. Stamps haven't withstood the test of time.

In reality my kids/grandkids will probably blow anything i leave them, any great grandkids probably wont see anything. They say Inherited wealth rarely lasts more than 3 generations.

It's called redistribution. Some countries go out of their way to prevent accumulation from generation to generation.

 

[M.W.]

"Global currencies are already down 97-99% since 1971 and we can now expect the final 1-3% decline for all money to become virtually worthless."

Glad this nonsense printed at the very beginning and saved me wasting more time. Utter garbage article full of errors and misleading statements, most of which are easily contradicted.

https://goldswitzerland.com/in-the-end-the-goes-to-zero-and-the-us-defaults/

 

[M.W.]

That's called inflation you moron. Inflation is never the same than a devaluation of a currency. Did you even pass basic macro econ?

In the 1950's postage was 3 cents and now 60 cents, 95% decline in the dollar.

In the 1950's gold was $35 and now $1800, 98% decline in the dollar.

So the value of the dollar has dropped between 95% to 98% over the last 70 years.

How high does the price of postage and gold have to go for the dollar to be wallpaper?

Government debt will never be paid off. Default has always been the long term plan because there is no other plan.

 

[M.W.]

Exactly. Why are there so many stupid individuals on this forum?

If that continues, by end of the century a stamp with be $12. No big deal. Average wage would be around $1 million a year.
The dollar replaces the cent. No need for quarters etc. Everything priced in whole dollars and life carries on.

 

[M.W.]

Stamps are denominated in currency. Seriously, have some of you guys eaten the stupid bug?

Then just buy a boatload of forever stamps now at $0.60, and sell them at $11 at end of century. That's a major percentage gain in your investment.

 

[Nobert]

The clown is associated with all kinds of gold funds and brokers and has no public track record.

Talks about $ going to 0.

Yup.

 

[Money Trust]

People have been saying this for nearly a century.

 

[Businessman]

Talks about $ going to 0.

Yup.

It asymptotes to zero, never reaching zero.

Eventually a single dollar becomes worth less, you cant buy anything of value with it, you then need $10, then $100. then $1000...

Not there yet, eg. you can still walk into a shop and buy items, like food, for a single dollar. But one day your descendants will walk into a shop (although probably all be online by then) and not be able to buy anything for a single dollar.

We trust in the Government and Fed to ensure the drop in buying power happens in a slow, orderly way and not a fast collapse. But the way the national debt is rising so fast, going be $100 Trillion within twenty years. It is pretty scary stuff. If they cant raise enough tax revenues they resort to money printing and the value of money collapses much faster.

 

[Nobert]

It asymptotes to zero, never reaching zero.

Eventually a single dollar becomes worth less, you cant buy anything of value with it, you then need $10, then $100. then $1000...

Not there yet, eg. you can still walk into a shop and buy items, like food, for a single dollar. But one day your ancestors will walk into a shop and not be able to buy anything for a single dollar.

We trust in the Government and Fed to ensure the drop in buying power happens in a slow, orderly way and not a fast collapse. But the way the national debt is rising so fast, going be $100 Trillion within twenty years. It is pretty scary stuff. If they cant raise enough tax revenues they resort to money printing and the value of money collapses much faster.

Yes that will happen , but i meant that he's using fear as a sales pitch, to get rid of his gold.
All kinds of a doomsday scenarios.

 

[vanzandt]

Forget collection value, I am talking about commerce.

There are people who bought rolls and rolls of forever stamps when they were introduced at like 40 cents 15 years ago, and selling them now for 55 cents. That's a nice ROI!

Yeah that was me.
I let ya'll in on the secret way back in 2016.

I got ya beat.
I went long 1,200,000 of the "Forever" stamps in 2013 @ $0.37.
8.33% per year.
And..... They were the Elvis Editions. Hard to put a dollar value on that. Ca_Ching!
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