You are viewing a single comment's thread from:
RE: (VIDEO) Alert: Bond Market Turmoil Is Now Punishing The Stock Market. MORE! By Gregory Mannarino
" I suppose you think ALL fiat currencies are going to collapse on the exact same day at the exact same second of the day...right? :-) "
- I don't think I've ever said anything like that in any post ever, so I gotta go.
but FYI, it wouldn't surprise me in the least if we see something economically happen by end of September when Fed runs out of budget, and can't raise the debt ceiling any more by law.
And at that time I'll be grateful if i owned some crypto, but if you want to buy any of my silver yo better bring some real estate, a car or something of real ( deflated ) value, because I won't be accepting Dollars.
I'm sure it's not lost on you that the Louisiana Purchase was handled in Gold. But whatever.
PEACE
Oh, I didn't say you said that. I just said it is more likely that they won't all collapse on the very same second of the very same day. Imo all the fiats will survive. They will just all get crushed as the world runs to the "safety" of the U.S. dollar and U.S. treasury debt, just like in 2008. Not sure if you realize it but 1 year treasuries were being bought at a negative interest rate during the height of the 2008 meltdown. The same thing will happen again this time. Gold is like everything else, a depreciating asset during a deflationary environment. A gallon of gas is already below 2.20 here where I am. By Sept it will more likely be below 1.50. I figger gold will be below $1000/oz. Silver? ehhh, somewhere belowst $10/oz I imagine as it is also a metal with industrial uses.
have you ever hear of Venezuela. They are already in the poop, their bolivar has collapsed, there 1 ounce of Gold will buy you a HOUSE, there 1 ounce of Silver will buy you multiple months of food.
Look at the price of Silver there: 166.27 per ounce...
http://www.livepriceofgold.com/silver-price/venezuela.html
Please don't preach to me about 10 Silver or whatever. I already know better.
Later
I don't consider Venezuela's currency a "reserve" currency. Nor do I consider Russia's currency a reserve currency. Both are too reliant on one asset >>> oil. And oil is priced in dollars. Thus Venezuela's problems. I'm not preaching either. I'm giving you my opinion, nothing more, nothing less.