Gold article worth reading .
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In regards to interest on your money,it has being going for years,and the say there is more lowering in the near future.
If you were in a plane,and it was on a descent angle that interest rates are on,you would know what you fate was,they are not lowering because they think "Happy days are here again"
If you were in a plane,and it was on a descent angle that interest rates are on,you would know what you fate was,they are not lowering because they think "Happy days are here again"
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I read an article yesterday that mentioned bitcoin is on its way back up. A few bitcoin and some gold and I will be in that list when the oop: hits the fan
:fire: :fire: :fire:
oop: hits the fan:fire: :fire: :fire:
HippyProspecting said:I read an article yesterday that mentioned bitcoin is on its way back up. A few bitcoin and some gold and I will be in that list when the
:fire: :fire: :fire:
I dont understand Bitcoin or the blockchain technology and its worth. I have read reasons put forward that its value protects against fiat money, also an alternative to gold. However its price is always quoted in US dollars the worlds largest fiat currency. Seems a contradiction.
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madtuna said:Bugger!! I really wanted to add an opinion to this thread but I don't have one of those fancy s's
Why not just say your stuff , no need for a S for that ?
Seems you don't wish or are bagging those who support the site who pay that small fee to help ?
Your well thought of here , why F that up mate !
Jack
madtuna
Only owns one toaster
Not bagging anyone Jack and it was in response to your "PS see that S after member , get it !" which could be construed as anyone without the S thier opinion or contribution isn't as valid.Outback said:madtuna said:Bugger!! I really wanted to add an opinion to this thread but I don't have one of those fancy s's
Why not just say your stuff , no need for a S for that ?
Seems you don't wish or are bagging those who support the site who pay that small fee to help ?
Your well thought of here , why F that up mate !
Jack
If that is not what you meant maybe you could clarify it for me?
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I don't think he can clarify because that was exactly what he meantmadtuna said:Not bagging anyone Jack and it was in response to your "PS see that S after member , get it !" which could be construed as anyone without the S thier opinion or contribution isn't as valid.Outback said:madtuna said:Bugger!! I really wanted to add an opinion to this thread but I don't have one of those fancy s's
Why not just say your stuff , no need for a S for that ?
Seems you don't wish or are bagging those who support the site who pay that small fee to help ?
Your well thought of here , why F that up mate !
Jack
If that is not what you meant maybe you could clarify it for me?
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madtuna said:
Steve I should have worded that better , it was directed at SB at the time ' no one else .
Cheers
Jack :beer:
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Forget gold buy silver
I doubt there would be any great movement out of banks - you can store tens of thousands under the bed, but if you intend to store hundreds of thousands, can I have your address? The strange thing is that Japan has been like that for decades but the standard of living is high (such low rates usually reflect negligible inflation, so things aren't getting dearer so you wont pay much more of your saved money in 10 years to buy a house than you will now, even though you won't be earning any more). I don't see how a cashless system would give banks a great deal of control, since there are plenty of assets one can hold other than cash (e.g. gold, shares, non-bank securities, government bonds). Most of everyone's assets now are not in bank-notes, so there would be no great change, as banks only have to have 10% of the money they loan, the rest is just a book entry now.MacRob said:
The real danger is increased unemployment - less jobs around. But Japan has a far lower unemployment rate than us even now - 2.9%.
The way I see it is there are many that have substantial amounts of savings in bank accounts. Some are conservative, some in the past may have been in riskier assets and now choose to protect what they have, especially in later stages of life where they dont have time on their side to ride out severe financial down turns if they have invested in riskier assets.
However, interest rates world wide are now at record lows and appear to be going lower. Negative interest rates indicates very low or zero inflation or worse, deflation, where everything, shares, property, artworks, gold and debts will deflate in price. If bank interest rates go negative why would you hold your money in the bank and pay the bank to do so and why would you trust them anyway? History tells us that banks in a crisis can and have closed their doors or put restrictions on how much money people are able to take out. So where to now? To me even if asset values are falling it is less riskier to be in hard assets that you can touch, property, land, gold, even a bit of the hard earned put into a non bank vault or even under the mattress, anywhere but money in the bank.
I also have concerns about a cashless system where banks would have ultimate control over any of your digit money sitting in your electronic account, not to mention electronic failures to the system, with a bit of paper you have a chance to squirrel some away.
No expert here, just my thoughts and a bit of a rant.
However, interest rates world wide are now at record lows and appear to be going lower. Negative interest rates indicates very low or zero inflation or worse, deflation, where everything, shares, property, artworks, gold and debts will deflate in price. If bank interest rates go negative why would you hold your money in the bank and pay the bank to do so and why would you trust them anyway? History tells us that banks in a crisis can and have closed their doors or put restrictions on how much money people are able to take out. So where to now? To me even if asset values are falling it is less riskier to be in hard assets that you can touch, property, land, gold, even a bit of the hard earned put into a non bank vault or even under the mattress, anywhere but money in the bank.
I also have concerns about a cashless system where banks would have ultimate control over any of your digit money sitting in your electronic account, not to mention electronic failures to the system, with a bit of paper you have a chance to squirrel some away.
No expert here, just my thoughts and a bit of a rant.
Australia has only about $3,000 per person issued as bank notes I think ($75 billion). Not much good putting your savings under the pillow, as most of people's savings are digital entries. There is talk of abolishing bank notes, and other than outback pubs, probably few Australians would notice.
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