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Economical situation 2020 (Corona)
#41
Also less dead here. Set in perspective we have 15.000 dying for smoking related deceases each year alone in Denmark. So I slowly start questioning the current strategy. The reason is that the capacity are still giving room for 80% more more cases here in Denmark, so why not open up a bit more to avoid killing every self employed. Also IT-consultants are hit by a decrease in sales of 67%! That's massive numbers to save the lives of a few thousands.

I find it sad for each dead person by the virus, but if more is now dying by the isolation both financially, mentally and physically (because of postponed treatment) then we are doing more harm than good. For me that time to open up more has come. We can handle it by still keeping social distance. Go to the hairdresser that has mask and you as a customer will also wear a mask. Go to a restaurant with extra spacing between tables and waiters wearing masks....etc...we need to think in a new way and get the wheels turning again. If not then we are all doomed.
Cardano is the most promising 3 gen. crypto right now.


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#42
Who are they fooling?

David Tepper made tons of money by buying up bank shares at the bottom of the credit crunch. He is now worth $ 12 billion and undeniably one of the best investors of our generation.
Well, Tepper doesn't understand the current market anymore.

Every CEO he speaks to is afraid that his company will go bankrupt, but the stock market is going up day by day.
The Federal Reserve expects 32% unemployment in the second quarter, 31% of Americans paid no rent during the first week of April, and Vancouver goes bankrupt because 1 in 4 can no longer even pay property taxes.

The IMF reports that 90 (out of 195) countries have already turned to financial aid.
And the stock market, it just goes steadily higher. Most markets have gone up 25% to 30% in recent weeks.

I can't think of much more hallucinatory than this.
All the data coming out shows that the situation is worse than the 1930s, but broker shares currently have account opening queues

Investors are aiming for a short Corona crisis, a rapid revival of the economy and an endless flow of cash.
Providing cash is one thing, but does it solve the essentials?

The Fed may buy all sorts of bond loans, but a loan that is not repaid will also default.

The International Labor Organization (ILO) expects 1.25 billion unemployed worldwide. How are these people going to pay off their mortgages, credit cards and student loans?

Same question for companies: how do you repay your loans when you no longer realize a turnover?

You cannot solve a solvency problem with an endless flow of cash. Although it will help to cover the matter for a while.
And it certainly will not prevent central banks from trying anyway.

I'll repeat it again: the world has $ 250,000 billion in debt and if 20% remains unpaid, central banks have to print $ 50,000 billion to make up the difference.

So we haven't actually seen anything yet.
What is this thing that builds our dreams, yet slips away from us?

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#43
I think all is aware of the current situation is highly severe and very bad for the normal person. Sadly you mention the stock marked as an indicator. I'm starting to hate the stockmarket since it's run by people who seems to be lithely insane and none of them has any idea of where the market is going, but they still act as if they do. History shows us that. They are employed in large hedge funds and pension funds where the last one is actually our money. It's the same fund that buy the bonds from the national banks all over the world.

Right now I think the system is collapsing and China will take control over more western companies than ever before. It's a future with control, surveillance and less democracy than ever before. I'm really concerned that this is one outcome of the current crises.
Cardano is the most promising 3 gen. crypto right now.


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#44
(2020-04-13, 04:53 PM)Carsten Wrote: I think all is aware of the current situation is highly severe and very bad for the normal person. Sadly you mention the stock marked as an indicator. I'm starting to hate the stockmarket since it's run by people who seems to be lithely insane and none of them has any idea of where the market is going, but they still act as if they do.  History shows us that. They are employed in large hedge funds and pension funds where the last one is actually our money. It's the same fund that buy the bonds from the national banks all over the world.

Right now I think the system is collapsing and China will take control over more western companies than ever before. It's a future with control, surveillance and less democracy than ever before. I'm really concerned that this is one outcome of the current crises.

One solution: fight back!
What is this thing that builds our dreams, yet slips away from us?

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#45
Yeah but how?
Cardano is the most promising 3 gen. crypto right now.


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#46
(2020-04-13, 05:54 PM)Carsten Wrote: Yeah but how?

When time is there we will know.
At least one thing we do is having this forum here. At least we are not sitting here on our lazy asses.
I don't know yet what and how I will act, but when authorities keep taking away our privacy, freedom and even our properties, I do not intend to sit and wait. I do not considder myself as a cog of a machine. I am tired of it.
I'm affraid some govs will continue the measures they took for this COVID crisis. Just because it gives them more power.
No thanks. Not for me.
What is this thing that builds our dreams, yet slips away from us?

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#47
The great disconnection

The demand for physical gold and silver has been quite high since the outbreak of the Corona crisis. And that is a serious understatement.
The gold cartel who spent years trying to suppress the price with naked short positions saw that it was not good. People feared losing control of the market.
Something had to be done to dampen the demand for precious metal.
How to do?

We know from investors that they usually only buy what goes up.
A rising course creates extra demand. (when bitcoin listed $ 20,000, everyone suddenly bought it. Including your cautious aunt)
The price of gold and silver had to be pushed down. As hard as possible.
The way to do that is to dump masses of precious paper on the market in a short time. Without limit.
The market couldn't process these types of sales orders, causing the price to collapse.
The well-known game that has been played so many times.

On March 12, the silver price was still close to $ 17, six days later we recorded a low of $ 11.6. A drop of 32%.
Gold moved from $ 1,650 to $ 1,450 an ounce over the same period.
The gold cartel was again successful in the setup. The price of the two main precious metals was once again pushed down massively.
And as long as buyers are satisfied with their paper precious metal, you can continue to play it indefinitely.
But this time it was different.

Where buyers used to settle for paper products, they now suddenly requested physical delivery of their precious metal.
There had been shortages in the market for some time and then it makes sense that investors choose to err on the side of caution and physically request their precious metal.

The sellers of paper bullion suddenly were caught with their pants down. After all, they did not have the precious metal they had sold and they could no longer get it elsewhere in this tight market.

If you buy spot gold and / or silver via London, you always have the option to have your purchases physically delivered within 3 days.
However, buyers who requested this noticed that the precious metal was not delivered within that period.
That is remarkable, because it means that at least two parties failed.
The seller of the precious metal could not supply the metal, that is evident. But since you always buy through a bullion dealer who guarantees these transactions, this party was also in default.
And this is when the spot market actually stopped functioning. The spot price separated from the future price on Comex.
Suddenly the future was trading at $ 20… $ 50… and at one point even $ 100 more than the spot price.

The game was up.


We then hear all kinds of explanations to reassure us. The gold is indeed there, it is only in the wrong place.
Comex and LBMA teamed up to develop a new gold contract to better match stocks, and via Comex we also received reports that gold stocks had been booming in recent days.

So problem solved.
And yet, at the moment, the spot price is still trading $ 50 below the futures price.
Despite the reassuring words, the market still tells us that the system is no longer functioning.
If I understand correctly, parties that sold gold through the Comex have until the end of the month to take care of physical delivery.
Should Comex also default and not deliver the requested precious metal, this will immediately end the paper trade in precious metal.
The last convulsion of a rogue system.
We are in the middle of a gigantic short squeeze where sellers of paper precious metal suddenly have to look in the market for physical.
The closer we get to the end of the month, the greater the panic and the more these parties have to offer to get it.
What is this thing that builds our dreams, yet slips away from us?

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#48
Thanks for the update on gold. A market I never entered so I don't care about the gold price at all.

Manipulation by the big players is well know in every market and especially in the crypto world.
Cardano is the most promising 3 gen. crypto right now.


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#49
Maybe one should read this article I found on the site of a (for me unknown) crypto project called ERGO.
At least they see what the problem is today.

https://ergoplatform.org/en/blog/2020_04...ot_potato/
What is this thing that builds our dreams, yet slips away from us?

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#50
(2020-04-15, 08:01 PM)Hugues Wrote: Maybe one should read this article I found on the site of a (for me unknown) crypto project called ERGO.
At least they see what the problem is today.

https://ergoplatform.org/en/blog/2020_04...ot_potato/


I can't see a token is the solution to the current crises. First of all it's crypto and shops, banks, etc are NOT at all ready or even willing to deal with a token. It's more theory than something practical to implement.
Cardano is the most promising 3 gen. crypto right now.


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