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Very Active Member
Originally Posted by Cobwebs
I'm just keeping the bank account to a bare minimum to pay the bills. Have all the hard assets I need.Following advice from like minded individuals like your good self and observing the panic from slave masters as their scheme crumbles to it's inevitable end.
Those left standing then have the task of the rebuild to an equitable system minus the inflation from the corruption that produced it.
Quite the privilege to witness it all really, these sorts of upheavals are millenniums in the making though many won't survive it is my feeling.
I hear you ..... good luck ( we all need some ) ....Mike
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Originally Posted by Cobwebs
General consensus is it started in 2008 but through fair means or foul the day of reckoning has been extended out till now. All the crazy gyrations of the last few years are the indicators of an attempt at a reset. It's failing hence the madness we see daily. History tells us when it sinks it sinks quickly so I was wondering if Mike has this factored into his calculations and if so would he mind passing on his thoughts.
Do you see disaster ahead or will it always maintain an upward trend ?
Do I see disaster ahead?
Well, I think the only 'disaster' extreme enough to significantly affect the American financial markets would have to be one that crashes global civilization, such as nuclear war or global environmental catastrophe, at which point I can imagine a Mad Max scenario and the value of the dollar will be irrelevant. But, one is unpredictable and the other is a ways off. In the meantime the US financial system will go through its usual gyrations due to Wall Street greed but won't collapse entirely.
In other words, we Baby Boomers have nothing to worry about. The financial system will hold up just fine during our lifetimes and hyper-inflation of the sort you fear will be confined to small, isolated economies. For the average person, US Treasuries and its many derivations remain the safest bet for retirement funds, and provide necessary liquidity that hard assets cannot. If the dollar collapses due to hyper inflation, then what good are gold bars anyway?
That's what I think. I also think that I'm a terrible investor when it comes to individual stocks because I don't have the time, interest or resources to stay on top of the market, which successful day-trading requires. We're entirely in major mutual funds with a spread between income and value funds that reflects our risk tolerance, managed by one of the name brand investment advisors. That's been working out well for us and we don't think about it much.
Last edited by UtahPete; 06-13-2023 at 12:03 PM.
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Ozzie Ozzie Ozzie
Just a warning and a reminder people - as per the Forum Rules, this is the Off-Topic section so you are welcome to discuss Mike's method or any of the differing ways of making money already raised here, and any others that might come to mind; but we ARE NOT discussing the politics of the World or the how's, why's, and/or wherefore's of any/all political systems that may or may not have contributed to the current economic climate or otherwise!
You have been warned!
Last edited by Peter Aawen; 06-13-2023 at 12:03 AM.
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Ryde More, Worry Less!
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Originally Posted by Peter Aawen
Just a warning and a reminder people - as per the Forum Rules, this is the Off-Topic section so you are welcome to discuss Mike's method or any of the differing ways of making money already raised here, and any others that might come to mind; but we ARE NOT discussing the politics of the World or the how's, why's, and/or wherefore's of any/all political systems that may or may not have contributed to the current economic climate or otherwise!
You have been warned!
I've edited my last post. Hopefully it's now more acceptable.
2014 RTL Platinum
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Ozzie Ozzie Ozzie
2013 RT Ltd Pearl White
Ryde More, Worry Less!
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Very Active Member
Originally Posted by Peter Aawen
Just a warning and a reminder people - as per the Forum Rules, this is the Off-Topic section so you are welcome to discuss Mike's method or any of the differing ways of making money already raised here, and any others that might come to mind; but we ARE NOT discussing the politics of the World or the how's, why's, and/or wherefore's of any/all political systems that may or may not have contributed to the current economic climate or otherwise!
You have been warned!
politics out. One deletion so far.
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Originally Posted by Peter Aawen
Pete, if your post was still there and you hadn't received a slap on the wrist with a wet tram ticket from any of the mods, then it was 'acceptable' as it was, with no need to edit anything....
Hmmm, maybe I'm not so sure about it now, AFTER your edit?
But we ARE off the topic, so please, let's get back to the subject of making money, and not discussing the political (or climatic) situation that might make that pointless.
I've further edited my post to clarify that I was responding to an earlier post which asked the question whether financial disaster is imminent.
Last edited by UtahPete; 06-13-2023 at 12:36 PM.
2014 RTL Platinum
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Very Active Member
Originally Posted by UtahPete
Do I see disaster ahead?
Well, I think the only 'disaster' extreme enough to significantly affect the American financial markets would have to be one that crashes global civilization, such as nuclear war or global environmental catastrophe, at which point I can imagine a Mad Max scenario and the value of the dollar will be irrelevant. But, one is unpredictable and the other is a ways off. In the meantime the US financial system will go through its usual gyrations due to Wall Street greed but won't collapse entirely.
In other words, we Baby Boomers have nothing to worry about. The financial system will hold up just fine during our lifetimes and hyper-inflation of the sort you fear will be confined to small, isolated economies. For the average person, US Treasuries and its many derivations remain the safest bet for retirement funds, and provide necessary liquidity that hard assets cannot. If the dollar collapses due to hyper inflation, then what good are gold bars anyway?
That's what I think. I also think that I'm a terrible investor when it comes to individual stocks because I don't have the time, interest or resources to stay on top of the market, which successful day-trading requires. We're entirely in major mutual funds with a spread between income and value funds that reflects our risk tolerance, managed by one of the name brand investment advisors. That's been working out well for us and we don't think about it much.
Sorry Pete don't think I can reply I have a wrist injury.sSc_hidingsofa.gif
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