Yes you have a point. I am not saying that I believe that a strong systemic resilience is a highly probable future scenario. It is however one possible future scenario having a probility just as all the others. History have often shown that the "day of doom" lays further ahead than anticipated. And to understand the systemic resilience is a way to broaden the perspective.
Thanks Greene for your kind words. Firstly, they will rescue the banks and not go through the shenanigans you describe — though expect a long bank holiday while they sort things out. It will of course debase the currency.
Like Venezuela and Zimbabwe, the currency will not quite die. If you have silver coins you will be able to exchange them for currency (even a barrow load) to buy small items (bread etc.). But I think you will find people happy to take your coin. How does five one ounce coins exchanged for a six-bed house grab you? That's what happened in Berlin in late-2023!
I am at the point of abandoning alternative media in the same way that I abandoned the MSM a long time ago - I watch it, but more to track the narratives than to rely on anything that is said. It has become a space that is full of unsubstantiated opinions, back-biting and, sadly, people who want to profit by telling an audience what they want to hear. It is refreshing to see someone, here, with genuine expertise take a stand, maintain a professional demeanor, and remain above the fray. I read this substack to test conclusions I have reached, but more importantly to see that there are others out there trying to make a positive contribution in this difficult time.
Agree 100%.i haven't watched any news channel since October. It was all so obvious, they all ran the same story and the narrative was predictable so I switched off. Alasdair keeps us up to date with what's important, the rest is just one sided drivel.
“By a continuous process of inflation, governments can confiscate, secretly and unobserved, an important part of the wealth of their citizens. By this method, they not only confiscate, but they confiscate arbitrarily; and while the process impoverishes many, it actually enriches some….The process engages all of the hidden forces of economic law on the side of destruction, and does it in a manner that not one man in a million can diagnose.”*** John Maynard Keynes ~ 1920
I like the Yogi Berra quote! It is quite correct. All I can do is analyse the current situation in the hope that when it happens the unexpected is less of a surprise.
I'm just grateful that you have the ability to keep abreast of all the shenanigans in the banking world here, and around the world. We all should know what they are up to and the consequences for us mere mortals. I'm not in the financial world, I didn't know much about it until I discovered you on Goldmoney. Since then I have followed your every article. Some I have struggled with as they are what you could call "deep and heavy going" others are extremely interesting, fascinating and insightful. As I said, I'm neither a trader nor an investor, I'm just an ordinary bloke with an avid interest in what is going on and I'm thankful to you for bringing it all out into the open for us to see. Long may it continue 👍🏻
forward to reading your articles. I've been a gold bug for a few years after studying Austrian economics and reading Murray Rothbard, James Turk, Roy Sebag, Adrian Day, Peter Schiff and yourself and have put a majority of my savings into gold bullion and gold mining stocks. Are you as bullish on gold mining stocks as the others? Thanks.
The only post from you that I saw was something about poetry that wasn't a question...
So what was the question?
I hope you are right Erik, but the debt trap this time is the difference
Yes you have a point. I am not saying that I believe that a strong systemic resilience is a highly probable future scenario. It is however one possible future scenario having a probility just as all the others. History have often shown that the "day of doom" lays further ahead than anticipated. And to understand the systemic resilience is a way to broaden the perspective.
Thanks Greene for your kind words. Firstly, they will rescue the banks and not go through the shenanigans you describe — though expect a long bank holiday while they sort things out. It will of course debase the currency.
Like Venezuela and Zimbabwe, the currency will not quite die. If you have silver coins you will be able to exchange them for currency (even a barrow load) to buy small items (bread etc.). But I think you will find people happy to take your coin. How does five one ounce coins exchanged for a six-bed house grab you? That's what happened in Berlin in late-2023!
I am at the point of abandoning alternative media in the same way that I abandoned the MSM a long time ago - I watch it, but more to track the narratives than to rely on anything that is said. It has become a space that is full of unsubstantiated opinions, back-biting and, sadly, people who want to profit by telling an audience what they want to hear. It is refreshing to see someone, here, with genuine expertise take a stand, maintain a professional demeanor, and remain above the fray. I read this substack to test conclusions I have reached, but more importantly to see that there are others out there trying to make a positive contribution in this difficult time.
Agree 100%.i haven't watched any news channel since October. It was all so obvious, they all ran the same story and the narrative was predictable so I switched off. Alasdair keeps us up to date with what's important, the rest is just one sided drivel.
“By a continuous process of inflation, governments can confiscate, secretly and unobserved, an important part of the wealth of their citizens. By this method, they not only confiscate, but they confiscate arbitrarily; and while the process impoverishes many, it actually enriches some….The process engages all of the hidden forces of economic law on the side of destruction, and does it in a manner that not one man in a million can diagnose.”*** John Maynard Keynes ~ 1920
Thank you, Alasdair, for your generous commitment of time, energy, knowledge and experience for your fellow humans. I for one appreciate it very much.
Simon, it's like in the Disney cartoons... they keep on laying more track in front of the train — until they don't!
Re time frame, it is probably the debt trap that will set the pace
Thanks Jim. There are over 500 of them so it's impractical. I will address topical issues from hereon to further understanding.
You cannot escape a debt trap until it is too late!
Thanks for this. Heartened to hear "an ordinary bloke" paying attention to momentous events in troubling times!
I've always liked deeply unfashionable sectors!
Thank you Lance.
I like the Yogi Berra quote! It is quite correct. All I can do is analyse the current situation in the hope that when it happens the unexpected is less of a surprise.
I'm just grateful that you have the ability to keep abreast of all the shenanigans in the banking world here, and around the world. We all should know what they are up to and the consequences for us mere mortals. I'm not in the financial world, I didn't know much about it until I discovered you on Goldmoney. Since then I have followed your every article. Some I have struggled with as they are what you could call "deep and heavy going" others are extremely interesting, fascinating and insightful. As I said, I'm neither a trader nor an investor, I'm just an ordinary bloke with an avid interest in what is going on and I'm thankful to you for bringing it all out into the open for us to see. Long may it continue 👍🏻
Keep up the great work. I always look
forward to reading your articles. I've been a gold bug for a few years after studying Austrian economics and reading Murray Rothbard, James Turk, Roy Sebag, Adrian Day, Peter Schiff and yourself and have put a majority of my savings into gold bullion and gold mining stocks. Are you as bullish on gold mining stocks as the others? Thanks.