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Kinesis
#21
(2019-10-03, 04:36 PM)BobBobert Wrote: My company has an old safe that came with the building - the lock on it is temperamental - it can take 5 mins to get in sometimes.  When the local gala kept their cash in it overnight once, the panic as the thing would not open...

Put your gold in there Bob!
Cardano is the most promising 3 gen. crypto right now.


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#22
Even worse was a previous company that inherited a building with a walk in safe. We left it because we did not use that room but after a few years we needed the space. Getting rid of it was a major job that meant a structural engineer was brought in as a load bearing wall was demolished, and a crane was brought on site to lift this thing on to a truck to be taken away and scrapped. We the employees voted for it to be blown up on site, like you see in old westerns, but the bosses vetoed that Sad But that safe was huge, maybe 6 feet cubed. And dangerous - we were told to not lock anyone in it as air was limited. I have no idea if that was true or just management wanting us to behave.
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#23
(2019-10-07, 11:09 AM)BobBobert Wrote: Even worse was a previous company that inherited a building with a walk in safe.  We left it because we did not use that room but after a few years we needed the space.  Getting rid of it was a major job that meant a structural engineer was brought in as a load bearing wall was demolished, and a crane was brought on site to lift this thing on to a truck to be taken away and scrapped.  We the employees voted for it to be blown up on site, like you see in old westerns, but the bosses vetoed that Sad  But that safe was huge, maybe 6 feet cubed. And dangerous - we were told to not lock anyone in it as air was limited.  I have no idea if that was true or just management wanting us to behave.

It would also have been dangerous to blow it up. Good you didn't do it.
Cardano is the most promising 3 gen. crypto right now.


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#24
Jean Pierre Mustier is not your friend ... At least when you are thirsty on a European savings account.

The president of the European banking union openly argues for negative interest on a savings account, for the balance above € 100,000.00.

At the exact same time, our Central Bank, the ECB, remains committed to reducing the value of your savings by 2% each year. It is called an "inflation target of 2%" .

These two things can "never" change without first a financial crisis that will shake our entire financial system.
You can call that a "reset" or whatever you want ... It is only very important to understand that this is coming ...
Our economy drags so many debts along with it and at the same time grows too slowly to ever get out of here.

Most people absolutely DO NOT understand the drama of today's situation for the savings account holder, although it is fairly simple ...

Therefore the following figure example:

For all Belgian savings accounts alone, around 280 billion euros would be parked.

Even without the proposed "penalty interest" of the bank lobby that might also be waiting for us in the future, the interest rate on this 280 billion is on average and estimated at around 0.15% per year.
After all, most savings accounts offer the legal minimum of 0.11% interest.
It is true that smaller players often offer slightly more interest than that 0.11%, but they also have a smaller share of the savings market in their hands ...

280 billion at 0.15% interest, so that comes close to the truth and that means € 420 million in interest income in 2019 for the Belgian saver. That's one side of the comparison ...

But there is also a Central Bank, the ECB. That ECB is open and exposing that it will literally do everything it can to reduce the value of that savings by 2% per year.

280 billion on savings accounts will of course remain 280 billion next year, plus our interest of 420 million euros even ... But the purchasing power calculated in goods and services from that reserve, which will be around 5.6 billion euros lower next year if the Central Bank gets its way.
 


The positive interest rate, less the loss of purchasing power due to inflation, will therefore give Belgian savers an estimated loss of purchasing power of around € 5.2 billion in their savings accounts in the coming twelve months!

Then we remain silent for a moment about the much greater loss that from now on every year must be taken on bonds again ...

This is clearly the failure of a system!

In a normal market, the savings account should be the place where you can park your reserve.
Without spectacular capital gains, because it remains a savings account ... But guaranteed losses "forever", they don't belong under normal circumstances either!

The big cause, of course, is the global debt. Debts that, in relation to the size of the economy, are so large that a return to "fair" interest is no longer possible.

Today, the conservative saver should therefore "speculate" from his banker. Something he / she often simply does not want on his own initiative, because there is an essential and fundamental difference between savers and investors / speculators!
(and even investors often have a small portion of their "savings" assets)


According to our estimation, the alternatives that most savers have chosen or will choose will not be the solution either:
You cannot ignore it, both shares and real estate are (very) expensive in historical perspective and we reserve another word for the bond markets, their current valuation is just madness ...

Where is the solution then?

We think you look best at what Central Banks do themselves!

They do not have to hold any savings, in the sense that they have no money that they can print themselves ... Printing money, that simply happens "out of the blue".

But Central Banks themselves are increasingly collecting from one asset, a universal form of wealth that CANNOT just be printed, GOLD.

When it becomes mathematically certain that something must fundamentally change about the entire financial system, always pay attention to gold ...

This year the combined gold purchases from Central Banks can surpass 750 tons of gold and, taken together, with the official figures alone, we are very close to 35,000 tons of gold stocks.
(We are writing official figures because both China, and Saudi Arabia, for example, can sometimes have more gold reserves than they officially announce)

Is it not logical then to ensure that you have at least a basic position in physical gold?

If you follow the evolution on the financial markets and in the economy a bit, then you probably have the feeling that "something" is on its way.

Today could be an excellent time to build physical gold!
What is this thing that builds our dreams, yet slips away from us?

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#25
That's basic economic. A small inflation rate is need to create growth measured in GDP (Gross National Product), but is GDP the right way to measure a success or state of a country? If people reuse products, grow their own plants etc. then it's not measurable at GDP level, but for the individual it could still be very good.

I question the entire system construction. It's clearly not fair and growth is not the answer anymore. We need to rethink what we do.

Gold is not the answer here. Basically it's just a metal with no value in itself. It's us that put value onto gold. So if you start buying gold then those who already have gold becomes more wealthy and I'm not sure that's what you want.
Cardano is the most promising 3 gen. crypto right now.


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#26
But gold will hold its value much better than fiat in a crisis. Indeed if there are problems with the internet then it will beat crypto too.
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#27
(2019-10-10, 10:24 AM)BobBobert Wrote: But gold will hold its value much better than fiat in a crisis.  Indeed if there are problems with the internet then it will beat crypto too.

Gold only holds value because we put value into it. 

You can compare it a bit with Rolex watches or designer dress or Hermes bags  https://www.hermes.com. None are of course worth the value you pay, but you pay to show you can.
Cardano is the most promising 3 gen. crypto right now.


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#28
(2019-10-10, 03:09 PM)Carsten Wrote:
(2019-10-10, 10:24 AM)BobBobert Wrote: But gold will hold its value much better than fiat in a crisis.  Indeed if there are problems with the internet then it will beat crypto too.

Gold only holds value because we put value into it. 

You can compare it a bit with Rolex watches or designer dress or Hermes bags  https://www.hermes.com. None are of course worth the value you pay, but you pay to show you can.

Correct but the same goes for cryptos. They have value because we put value into it.
What is this thing that builds our dreams, yet slips away from us?

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#29
Gold has history over going back millennia so in that respect it trumps Rolex, Hermes and crypto, as well as USD and GBP! When a global economic crisis comes along I think that gold will still beat Rolex etc and also crypto (certainly if the crisis was soon - maybe different in a few years when crypto is much more widely accepted and respected).
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#30
Yes Hugues. That's also true with crypto.

And Bob you are also right. Currently most will probably want to stay with gold.
Cardano is the most promising 3 gen. crypto right now.


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