Share
25,678 Posts.
lightbulb Created with Sketch. 273
clock Created with Sketch.
05/10/19
16:46
Share
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 counterfeitingSo 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
Expand
Oct 14th .... mmmm Maybe. However no i don't think it will be a trigger for a collapse because just like last time they can print so i think any transistion to a new monetary system will need a different catalyst. Having said that i'm still prepared just like a good Boy Scout.