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Cash is king, but is it?, page-6

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justlove

754 Posts.

50

05/10/19

18:17

Post #: 40741862
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Originally posted by kingpins: ↑

There appears to be wide spread agreement that our monetary system is so broken that it needs to be replaced

On Oct 14th a lot of money falls due and the story is that the banks don't have any to pay their o/night loans that were stretched out.

The only collateral they have is their Derivatives which are just bits of worthless paper and the Fed will not be silly enough to accept them

Therefor is this the trigger for a collapse of the major Banks of the US--- IE a re-run of the GFC
Remember the GFC was greatly triggered by the Fed demanding that the banks use a better system to value their collateral which as most of the loans were bogus they could not do, hence it all came undone

If so will they take the opportunity to replace the currency system

All who trade shares know of the actions that companies make when they issue far more shares than the value of the company, they then consolidate and give you one new share for ten of your old ones

Will the Central banks ( mostly owned by one group) take the opportunity to start afresh with some new form of currency which would kill the idea that (old) Cash is King
Gold is already on the laws in the US and Australia that it can be seized at any time and it's use made illegal so we can't use that.
Cryptocurrency has no security and if the Fed, RBA etc introduced it's own version they would immediately outlaw any competition as a new form of counterfeiting

So the message is clear be a Boy Scout -- Be prepared
Have cash but be ready to turn it into some form of solid asset quickly

We live in uncertain times

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Its not necessarily broken, but the degradation of policies and law has let the Australia basically a joke. For giga caps its just like taking candy from a baby. Seemingly never ending money siphon without even needing to pay tax. Next time you wondering why your kid is in child care and night time TV blames the unemployed being a drain on society, maybe have a deeper think about the root cause. Endless articles of tax evasion and then there is the mining industry, a whoooole other story. The swamp is deep in Aust, the worst aspects of capitalism has been vampiric for some time.

https://www.channelnews.com.au/netflix-generating-tens-of-millions-in-revenue-but-paying-less-than-260k-in-taxes/

https://www.abc.net.au/news/2019-05-01/google-facebook-make-billions-in-australian-sales-pay-little-tax/11060474
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