norseman
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Post by norseman on Jul 31, 2019 12:55:21 GMT 10
The Feds and other assorted dirtbags are prepping for economic armageddon! If you've got half a brain you'll understand the ramifications of this! Please take the time to watch!
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fei
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Post by fei on Jul 31, 2019 13:57:30 GMT 10
All factors point to the fact that a massive economic slowdown or crash is on the near horizon. Governments worldwide are trying to get these cash bans, negative interest etc in place before it all kicks off. No doubt the pollies are busy buying physical assets and offshoring their cash as quickly as possible in the meantime though.
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frostbite
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Post by frostbite on Jul 31, 2019 13:58:49 GMT 10
If the government dont want you to have cash it must mean cash is good.
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norseman
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Post by norseman on Aug 1, 2019 10:04:08 GMT 10
If the government dont want you to have cash it must mean cash is good. ABSOLUTELY! I'm now really thinking some type of Global Economic Implosion is maybe much closer than most of us believe!
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frostbite
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Post by frostbite on Aug 1, 2019 11:57:56 GMT 10
Just as well then that I keep very little money in the bank these days.
I've invested heavily in precious metals, mainly in the 5.56, 308 and 9mm variety.
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fei
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Post by fei on Aug 1, 2019 16:13:30 GMT 10
In the big city I live in China, literally everybody (including the beggars), use phone apps for all payments. They think that I'm a freak for still using cash, although I have also taken to just carrying cash in case of emergency but using the app for convenience sake. Then again, the Chinese government announced limitations on cash a few months back, but had to back down a few days later when there was an outcry from older citizens outside the big cities who still like physical cash. I'm thinking that they will probably quietly re-announce some sort of policy soon, but with clauses covering use in certain areas or age groups.
I did notice there was suddenly a lot of talk about physical gold around about the same time though, so I'm thinking that at least some percentage of the population realises something is up and to get some preps in in the meantime.
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blueshoes
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Post by blueshoes on Aug 2, 2019 20:40:11 GMT 10
This is chilling... the IMF blog explains that the problem is that interest rates are almost nothing, but to "fix" a recession, interest rates need to go down. Down from zero means negative, and that means we pay to have our money looked after. (Now that's incentive to spend it and not leave it in the bank!) As they dryly observe, cash puts a floor on interest rates because no smart person is going to pay money to have cash kept by someone else. blogs.imf.org/2019/02/05/cashing-in-how-to-make-negative-interest-rates-work/#more-25625This is probably a key factor in the reduction of cash as much as (or more than) the black market, I think. The guys in charge are suppose to be the side that lets people mind their own business, low taxes and small government - limiting the use of cash goes against the things they stood for back when they had actual principles. On the bright side, if very negative interest rates is how they plan to manage the looming crash, I guess that means good things for paying off existing mortgages...
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Post by spinifex on Aug 3, 2019 9:22:29 GMT 10
If I ran my chicken coop the way the government and central bankers run this country ... I'd feed the hens barely enough grain to survive, have few eggs, scrawny hens but have a single fat cockerel that ate the best French goose liver pate from a golden bowl. The scrawny hens would have to lay enough eggs for me to sell to cover the cost of their feed and maintenance of the coop infrastructure AND pay for the Cockerels indulgent dietary requirements. The Cockerels only tasks would be to strut around, crow loudly, screw the hens and shit everywhere but on his own perch.
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frostbite
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Post by frostbite on Aug 4, 2019 18:33:38 GMT 10
With negative interest rates, does the bank pay me to take out a loan? I hope so, cause I'd like to buy a fourth property, but the asking price is about 2 mil.
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bug
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Post by bug on Oct 5, 2019 13:49:23 GMT 10
With negative interest rates, does the bank pay me to take out a loan? I hope so, cause I'd like to buy a fourth property, but the asking price is about 2 mil. No. The negative interest rates are not accessable to you. They are for the banks. The banks will then on-sell that money to you at a positive interest rate.
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