Hi Biggle’s and all,
The only thing I need to admit is in regard to my prediction of the last meltdown or as it was later called the GFC. I started to think a crash was coming back in 2002 and sold all my real estate and bought Gold first using a 50% Macquarie’s leveraged account allowing me to buy twice as much in the GOLD ETF and after about four years I was concerned about the ETF so sold out and bought physical Gold.
I admit I was early and I was surprised that I had to wait six more years for the crash to arrive; however, arrive it did in spades as we know.
Looking back selling out in 2011 to buy back in later would have been a smart move; however, I did not do that I held through and looking back my physical Gold from 2002 to 2016 has done better than 10% PA.
My cars, boats, home and other insurance premium money is long gone; however, my future purchasing power insurance premiums are still part of my growing equity and I take a great deal of comfort in that.
My gut feeling is we will see a steady rise in the Gold price from now on with a caveat emptor in case we see some Black Swan event. Another gut feeling is that from today I don’t expect to be six years out on the next GFC and it could be a vicious event given the banks are bigger today than 2008.
I guess time will tell as I have said before at least one of us is prepared as best he can from what the powers that be eventually bring down on our heads.
I see we had a record quarter this March for bankruptcies a 7,000 so they won’t be buying they won’t be buyers in this real estate market.
https://www.afsa.gov.au/resources/s...stics/quarterly-statistics-march-quarter-2016
I see we have a tad fewer than 12,000,000 people working in Australia these days and we recently gained some 7,700 new coffee maker and personal trainers. Funny because all I read about is things like the loss of jobs in Townsville and the SA Steel works.
http://www.abs.gov.au/ausstats/[email protected]/mf/6202.0
12 million working with a population of 24,050,718 what could possibly go wrong?
http://www.abs.gov.au/ausstats/[email protected]/0/1647509ef7e25faaca2568a900154b63?OpenDocument
In regard to the Plunge Protection Team they are very real and not a figment of my imagination see the link below and details of Executive Order 12631 from 1988 from Uncle Ronnie.
https://en.wikipedia.org/wiki/Working_Group_on_Financial_Markets
Now we are in the middle of a political auction to see what party can promise enough giveaways to get elected into power under the watchful eye of the USA rating agencies should be a lot of fun.
And looking at this clock and I think I’m turning Japanese or something. If you can see a rosy picture here then those glasses of yours must be magic!
http://www.australiandebtclock.com.au/
Cheers and very best regards: Andy
