in the UK they just announced the government will pay everybody's wage (80%, maximum £2500), which will essentially be funded by the BOE QE. People getting paid to do nothing with printed money while production craters means prices for basic goods are going to skyrocket and/or run out.
they will not take over your business because this is an election year. After the election then you gotta worry. Also since this is an election year they are not using the military to handle the public, instead they are giving us all a big dose of financial morphine to keep us happy till after the election then the tanks will be in the streets and no more money hand out. Enjoy the last 8 months of this financial morphine induced fog. Hell awaits.
Glasgow Scotland, can confirm ABM who contract staff for large retail centres have implemented mass lay offs, me included without pay for three months or until further notice.
I just got the lay-off notice today. I had been with the same company for 25 years. Shock doesn't even cover what I am feeling right now. Disgust is more like it. - (General business environment. Loss of business.)
So.... The Government is now letting banks loan money without regard to reserve ratios.... Which means a loan frenzy that will NEVER get paid back, foreclosing on ALL.... AND... They're going to give out 1.3 trillion to the people, who by the way, have nowhere to spend it, AND I bet it's going to be via "direct deposit" which is going to give the banks ALL THE LIQUIDITY they need to BUY all the assets for pennies on the dollar... But "we're being saved right"? What an ingenious way to "Bail Out" the banks using "We The People" and dumb ass U.S. Citizens fall for it AGAIN!
Hi Brad, Nowhere is good at present, hold your cash but in your hand as much as is possible, wife went to ANZ Bank today to withdraw another $5k cash & was told new rules will not allow her to do so shortly. We have been travelling Oz for last 4 x mths & taking out money as we go & soon that opportunity will be closed as money in the Bank is at risk. In the present I bought $250k of Gold last night from Ainslie Gold / Sydney online / paid $2568 / ounce in what they call an Unallocated Fund ... look it up ... rest that I have bought last few years which is over one big one is held in private vault no Bank vault. Just finished lunch & now will go to a ATM & both take another $1k each / daily limit at the moment ... I hold well over a years wages on cash presently (large amount) as been doing this for some time now, able to help kids & friends if need be ... Gold now $2645 but still cheap for what is coming.
People won't say it but I reckon it will double plus sooner than people think ... Plus it is way way safer in Gold than any Bank account ... it it's a million terrific go for it / doesn't matter amount but it will be safe in physical Gold
I have commented a few times before as a semi retired economist & businessman, I say again you are articulating the situation almost perfectly.
You are doing a great service in educating people "THAT" want to learn & listen Bravo Peter keep up the great work.
Like you I have pre planned & hold cash & Gold etc / physical only.
Your boat is only going to get cheaper lol.
We are no where near the bottom (Globally) nor will we be for many months / Recession is here !! Globally but it will morph into a Depression without any doubt.
As to wage and price controls. After the debacle of the 70's did you notice how list prices of most items are not actually what things sell for? If we have wage and price controls the companies will be able to sell at up to their list prices.... But wages won't rise... So another venue for inflation during the control period.
they will not take over your business because this is an election year. After the election then you gotta worry. Also since this is an election year they are not using the military to handle the public, instead they are giving us all a big dose of financial morphine to keep us happy till after the election then the tanks will be in the streets and no more money hand out. Enjoy the last 8 months of this financial morphine induced fog. Hell awaits.
Glasgow Scotland, can confirm ABM who contract staff for large retail centres have implemented mass lay offs, me included without pay for three months or until further notice.
I just got the lay-off notice today. I had been with the same company for 25 years. Shock doesn't even cover what I am feeling right now. Disgust is more like it. - (General business environment. Loss of business.)
So.... The Government is now letting banks loan money without regard to reserve ratios.... Which means a loan frenzy that will NEVER get paid back, foreclosing on ALL.... AND... They're going to give out 1.3 trillion to the people, who by the way, have nowhere to spend it, AND I bet it's going to be via "direct deposit" which is going to give the banks ALL THE LIQUIDITY they need to BUY all the assets for pennies on the dollar... But "we're being saved right"? What an ingenious way to "Bail Out" the banks using "We The People" and dumb ass U.S. Citizens fall for it AGAIN!
Hi Brad, Nowhere is good at present, hold your cash but in your hand as much as is possible, wife went to ANZ Bank today to withdraw another $5k cash & was told new rules will not allow her to do so shortly. We have been travelling Oz for last 4 x mths & taking out money as we go & soon that opportunity will be closed as money in the Bank is at risk. In the present I bought $250k of Gold last night from Ainslie Gold / Sydney online / paid $2568 / ounce in what they call an Unallocated Fund ... look it up ... rest that I have bought last few years which is over one big one is held in private vault no Bank vault. Just finished lunch & now will go to a ATM & both take another $1k each / daily limit at the moment ... I hold well over a years wages on cash presently (large amount) as been doing this for some time now, able to help kids & friends if need be ... Gold now $2645 but still cheap for what is coming.
People won't say it but I reckon it will double plus sooner than people think ... Plus it is way way safer in Gold than any Bank account ... it it's a million terrific go for it / doesn't matter amount but it will be safe in physical Gold
I have commented a few times before as a semi retired economist & businessman, I say again you are articulating the situation almost perfectly.
You are doing a great service in educating people "THAT" want to learn & listen Bravo Peter keep up the great work.
Like you I have pre planned & hold cash & Gold etc / physical only.
Your boat is only going to get cheaper lol.
We are no where near the bottom (Globally) nor will we be for many months / Recession is here !! Globally but it will morph into a Depression without any doubt.
As to wage and price controls. After the debacle of the 70's did you notice how list prices of most items are not actually what things sell for? If we have wage and price controls the companies will be able to sell at up to their list prices.... But wages won't rise... So another venue for inflation during the control period.
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