hoorah get ready for "Recession: the reckoning"

[JS20]

 

 

 

 

Prepare for a surge of "Cash-4-Gold" adverts.

 

Either the banks and Wall St. have something new up their sleeves that will last a few years longer before its collapse, or this is finally the end and they are going after one last dash for the cash (and resulting foreclosure properties).

 

If W.S. says their entire business model relies on risky investing with taxpayer subsidies, it means all the "real" money they are investing isn't enough to generate a return, so it must be supplemented with "free" "real" money taken from the masses to be gambled on unsustainable revenue streams.

 

Sounds to me like the plan is the same, or has a new twist this time around. Loan worthless fiat money to people who can't afford it, sap as many man-hours' worth of "real" money out of them as possible, then take the property back and sell it to the next fool until he can't pay, then take it back again. In the end, another swath of people are broke and the banks own more real assets. They know that most money is fake, and that true value is in property and labor.

 

Economic slavery at its finest! Why house and feed his slaves when the master can simply loan them money and charge interest to buy food and houses from his own supply?

 

 

lol yes you should all invest in gold. please.

 

 

There's a documentary on Netflix that's about the American money system. I can't remember what it's called, but it's really misleading and at the end has these millionaires telling you that you should invest in gold.

 

Why should you do such a thing? They have their own reasons, but it's really because they have a lot of money invested in gold. Don't invest in gold. If we got everyone to understand that it's not really that useful for making anything, then people would value it a lot less.

 

 

There are a lot of technologies and products that are absolutely dependent on gold in some form or another, even if not directly incorporating the it. Rare earth metals have always been valuable because they are crucial to advancing technology or maintaining current way of life for billions; because they are a finite resource, and because the known quantity and rate of extraction of that resource provides security in knowing how much there is and low long mining workers can expect to have a job. In a world where currency is needed, basing it on something tangible, finite, and critical to the ongoing survival of our species isn't a bad way to go really.

 

If we ever hope to leap forward into the future and save our race, maybe even get off this rock - gold and many other rare resources will be required, which gives them value. It may not be AS useful as it once was, but it does and always will play a critical part in our civilization.

 

 

 

Gold is not a rare earth metal, it is a precious metal.

Additionally, "rare earth metals" are actually not all that rare.

 

Gold has been used in technology, it is true, but we've also manged to supplant much of that usage with other technologies. Gold was considered valuable because it was shiny.

From here: http://www.marketoracle.co.uk/Article40631.html

"While Gold does have some industrial applications in semi-conductors, use as filling for teeth, and other applications, humanity's primary interest in Gold stems from its appearance and use for making jewelry."

 

Thinking that gold has any more value than a piece of paper backed by the full faith of the government is fucking foolish.

 

 

So one guy's article pretty much writes the book on what gold is and isn't good for... on the same website as another guy's article about the coming bear market and how buying physical gold is probably a good idea

http://www.marketoracle.co.uk/Article48641.html

 

Link wars!

[Braintree]

Your currency is really only as good as how much you value it. This is why bitcoin became a thing. All currencies are fabricated by humans, and as long as you get a bunch of people to use it, it will hold up.

 

Gold isn't that useful for much of anything. It doesn't corrode, which is useful for computer parts, but we have other things we can use to accomplish the same end. Its conductivity is also lower than copper, by the way.

[Al N Aafiysh]

The exposure of US insured banks to derivatives stood at $236.8tn at the end of June 2014. More specifically, US banks had an exposure of $10.4tn to credit default swaps with around $2.6tn subinvestment grade. About 16 per cent of the US high yield market relates to energy companies. With oil prices below $60 per barrel, 30 per cent of US subinvestment grade energy companies could end up in restructuring or default. This means that banks could have to pay out on more than $135bn of credit default swaps.

However, that is a conservative estimate. If defaults from the energy sector spread out more widely across the high yield bond markets, payouts on credit default swaps could be much higher. There are also other derivative products such as structured notes that have been sold by banks to investors that are related to the oil price and could cause large losses for investors.

Increased volatility in commodity derivatives usually spreads across related asset classes and causes losses in interest rate derivatives (where US banks have $192tn of exposure) and foreign exchange ($31tn of exposure). Losses in one segment of the market can become contagious because of the interrelationships between the different asset classes and also the counterparties that trade them.

We do not know how these counterparties manage their exposure, hedging and risks, so as a result losses often appear in unexpected ways and places. We saw this in the last financial crisis when it was discovered that AIG was highly exposed to the US housing market (a surprise to many people) as a result of selling credit default swaps based on subprime mortgages.

There is unlikely to be a happy ending to falling oil prices for highly leveraged US energy companies, and it is wrong to assume that there is no interconnectedness between the companies, banks, hedge funds and other organisations that trade derivatives based on the oil price.

One should also not assume that losses in one sector and among one group of counterparties can be contained and contagion can be so easily prevented.

 

Link: http://www.ft.com/intl/cms/s/0/c8f8520c-8538-11e4-ab4e-00144feabdc0.html

[chenGOD]

 

 

 

 

 

Prepare for a surge of "Cash-4-Gold" adverts.

 

Either the banks and Wall St. have something new up their sleeves that will last a few years longer before its collapse, or this is finally the end and they are going after one last dash for the cash (and resulting foreclosure properties).

 

If W.S. says their entire business model relies on risky investing with taxpayer subsidies, it means all the "real" money they are investing isn't enough to generate a return, so it must be supplemented with "free" "real" money taken from the masses to be gambled on unsustainable revenue streams.

 

Sounds to me like the plan is the same, or has a new twist this time around. Loan worthless fiat money to people who can't afford it, sap as many man-hours' worth of "real" money out of them as possible, then take the property back and sell it to the next fool until he can't pay, then take it back again. In the end, another swath of people are broke and the banks own more real assets. They know that most money is fake, and that true value is in property and labor.

 

Economic slavery at its finest! Why house and feed his slaves when the master can simply loan them money and charge interest to buy food and houses from his own supply?

 

 

lol yes you should all invest in gold. please.

 

 

There's a documentary on Netflix that's about the American money system. I can't remember what it's called, but it's really misleading and at the end has these millionaires telling you that you should invest in gold.

 

Why should you do such a thing? They have their own reasons, but it's really because they have a lot of money invested in gold. Don't invest in gold. If we got everyone to understand that it's not really that useful for making anything, then people would value it a lot less.

 

 

There are a lot of technologies and products that are absolutely dependent on gold in some form or another, even if not directly incorporating the it. Rare earth metals have always been valuable because they are crucial to advancing technology or maintaining current way of life for billions; because they are a finite resource, and because the known quantity and rate of extraction of that resource provides security in knowing how much there is and low long mining workers can expect to have a job. In a world where currency is needed, basing it on something tangible, finite, and critical to the ongoing survival of our species isn't a bad way to go really.

 

If we ever hope to leap forward into the future and save our race, maybe even get off this rock - gold and many other rare resources will be required, which gives them value. It may not be AS useful as it once was, but it does and always will play a critical part in our civilization.

 

 

 

Gold is not a rare earth metal, it is a precious metal.

Additionally, "rare earth metals" are actually not all that rare.

 

Gold has been used in technology, it is true, but we've also manged to supplant much of that usage with other technologies. Gold was considered valuable because it was shiny.

From here: http://www.marketoracle.co.uk/Article40631.html

"While Gold does have some industrial applications in semi-conductors, use as filling for teeth, and other applications, humanity's primary interest in Gold stems from its appearance and use for making jewelry."

 

Thinking that gold has any more value than a piece of paper backed by the full faith of the government is fucking foolish.

 

 

So one guy's article pretty much writes the book on what gold is and isn't good for... on the same website as another guy's article about the coming bear market and how buying physical gold is probably a good idea

http://www.marketoracle.co.uk/Article48641.html

 

Link wars!

 

 

I didn't say it writes the book, but if a guy who wants you to buy gold doesn't play up its technological usefulness, then shouldn't that say something?

Here's another article - only 10% of the gold mined now goes to industrial use:

http://oilprice.com/Metals/Gold/Gold-Mining-Boom-Increasing-Mercury-Pollution-Risk.html

 

An interesting anecdote: I had a friend who was big on gold. He bought a chunk with some inheritance money, and tried to use it in China for transactions. People looked at him like he was crazy.

Even if fiat money systems collapse (unlikely, but I won't go into it now), what the do I want with your gold? It has no use to me. If you want to barter a commodity or service, then we can talk, but gold? pfft.

[luke viia]

If we wanna talk about tangible goods that could stand in for currency, nuts to some gold, start hoarding clean drinking water. I can survive just fine without gold, but a lack of clean water might just cause me to kill a motherfucker. In the meantime, I'll keep pretending these cotton sheets I wake up to earn every day have some inherent value.

[LimpyLoo]

 

 

 

 

 

Prepare for a surge of "Cash-4-Gold" adverts.

 

Either the banks and Wall St. have something new up their sleeves that will last a few years longer before its collapse, or this is finally the end and they are going after one last dash for the cash (and resulting foreclosure properties).

 

If W.S. says their entire business model relies on risky investing with taxpayer subsidies, it means all the "real" money they are investing isn't enough to generate a return, so it must be supplemented with "free" "real" money taken from the masses to be gambled on unsustainable revenue streams.

 

Sounds to me like the plan is the same, or has a new twist this time around. Loan worthless fiat money to people who can't afford it, sap as many man-hours' worth of "real" money out of them as possible, then take the property back and sell it to the next fool until he can't pay, then take it back again. In the end, another swath of people are broke and the banks own more real assets. They know that most money is fake, and that true value is in property and labor.

 

Economic slavery at its finest! Why house and feed his slaves when the master can simply loan them money and charge interest to buy food and houses from his own supply?

 

 

lol yes you should all invest in gold. please.

 

 

There's a documentary on Netflix that's about the American money system. I can't remember what it's called, but it's really misleading and at the end has these millionaires telling you that you should invest in gold.

 

Why should you do such a thing? They have their own reasons, but it's really because they have a lot of money invested in gold. Don't invest in gold. If we got everyone to understand that it's not really that useful for making anything, then people would value it a lot less.

 

 

There are a lot of technologies and products that are absolutely dependent on gold in some form or another, even if not directly incorporating the it. Rare earth metals have always been valuable because they are crucial to advancing technology or maintaining current way of life for billions; because they are a finite resource, and because the known quantity and rate of extraction of that resource provides security in knowing how much there is and low long mining workers can expect to have a job. In a world where currency is needed, basing it on something tangible, finite, and critical to the ongoing survival of our species isn't a bad way to go really.

 

If we ever hope to leap forward into the future and save our race, maybe even get off this rock - gold and many other rare resources will be required, which gives them value. It may not be AS useful as it once was, but it does and always will play a critical part in our civilization.

 

 

 

Gold is not a rare earth metal, it is a precious metal.

Additionally, "rare earth metals" are actually not all that rare.

 

Gold has been used in technology, it is true, but we've also manged to supplant much of that usage with other technologies. Gold was considered valuable because it was shiny.

From here: http://www.marketoracle.co.uk/Article40631.html

"While Gold does have some industrial applications in semi-conductors, use as filling for teeth, and other applications, humanity's primary interest in Gold stems from its appearance and use for making jewelry."

 

Thinking that gold has any more value than a piece of paper backed by the full faith of the government is fucking foolish.

 

 

So one guy's article pretty much writes the book on what gold is and isn't good for... on the same website as another guy's article about the coming bear market and how buying physical gold is probably a good idea

http://www.marketoracle.co.uk/Article48641.html

 

Link wars!

 

 

 

Why the hell would gold be valuable in a world where things are so bad that money is worthless? You can't eat gold, you can't do anything with it. It's like owning a Picasso after a Zombie Apocalypse. It'd be fucking worthless. It might be worth half a can of soup to the right person.