Argentina Tops List Of 20 Signs Of Global Economic Meltdown

[Gringoboy]

That's what people like Steve never seem to realize. In a total collapse food, guns, and ammo are all that will matter. That and having the knowledge of how to acquire more food, guns, and ammo.

Maybe Steve actually does realise that already.
Why do you think he lives hundreds of miles away in the deep south of BsAs?

 

[sleslie23]

Maybe Steve actually does realise that already.
Why do you think he lives hundreds of miles away in the deep south of BsAs?

Well, that may be a good start, but I'm not sure how a lone yanqui is going fend of hoards of hungry, angry bonairenses.

 

[bigbadwolf]

That's what people like Steve never seem to realize. In a total collapse food, guns, and ammo are all that will matter. That and having the knowledge of how to acquire more food, guns, and ammo.

First of all, this "total collapse" if it occurs will occur only in the USA and only for a short period. New barter and trade arrangements will rapidly emerge to take the place of the old dollar-based system. And this will probably occur within months. Something along the lines of what occurred with the old Soviet ruble. Tradeable commodities will obviously retain value and it's a strong bet that these will include gold and silver. The proponents of total collapse seem to think it will last forever, some sort of scenario from a Mad Max film.

 

[sleslie23]

First of all, this "total collapse" if it occurs will occur only in the USA and only for a short period. New barter and trade arrangements will rapidly emerge to take the place of the old dollar-based system. And this will probably occur within months. Something along the lines of what occurred with the old Soviet ruble. Tradeable commodities will obviously retain value and it's a strong bet that these will include gold and silver. The proponents of total collapse seem to think it will last forever, some sort of scenario from a Mad Max film.

Yeah, you're right. During the 2001 collapse here everyone was orderly and cooperative.

I don't believe in the doomesday scenarios either, but can you explain how a "global economic collapse" would only be isolated to the US?

 

[bigbadwolf]

Yeah, you're right. During the 2001 collapse here everyone was orderly and cooperative.

I don't believe in the doomesday scenarios either, but can you explain how a "global economic collapse" would only be isolated to the US?

I'm not the one talking of "global economic collapse." Merely that the current dollar-dominated system is coming to an end -- which will involve some disruption and discomfort in the USA and countries that use the USD (Panama and Ecuador). The rest of the world will be affected in some small degree -- but policymakers have already been at work to mitigate the worst of it. New financial and trade arrangements will emerge. And after the dust settles even Americans in the USA will adapt to some new reality that will be far from a Max Max scenario.

There are people out there talking apocalyptically about "global economic meltdown" and the days of savagery and looting that will ensue, with hungry mobs from the cities descending on verdant countrysides -- but I'm not one of them.

 

[sleslie23]

I'm not the one talking of "global economic collapse."

Ha ha, but you are posting in a thread titled "Argentina Tops List Of 20 Signs Of Global Economic Meltdown" Or did you miss that part?

That said, I agree with your post.

 

[Reneige]

As bigbad mentioned previously, the objective for investors and savers to is preserve one's purchasing power as much as possible when govts. act irresponsibly. As all fiat currencies are being debased through over printing, precious metals are the only form of money that can't be printed.

Some argue gold has intrinsic value, others say it doesn't. In the end, it doesn't really matter. As long as it's an agreed upon form of money, that's all that matters; and it's been this way for 5000 years. Salt used to be a form of money, so were sea shells. The key is who/what gets to control or manipulate the quantity.

It's all about timing. I can selectively choose or isolate statistics during a certain time period to show that any asset class is a risky investment, be it stocks, bonds, real estate, currencies, precious metals, commodities etc. Now, just happens to be gold's time. In 10 years it could be something else.

And don't let the value of gold as measured in USD be any indication of its true value. All you need to do is observe the intense gold buying of China, Russia and many other central banks worldwide. Gold bullion sales are at record highs right now with investors taking advantage of the discounted prices. The US and Austrian mint are working overtime and can't produce enough gold to meet the demand.

Of course, you'll never hear any of this from the mainstream press, whose job it is to muddy the waters and keep its viewers misinformed in order to keep the global ponzi scheme economy going.

Selective statistics? I posted the ENTIRE price history of gold since the end of the gold standard. That's a person's entire investible life. You go ahead and keep waiting if you like. Here let me post it again : http://en.wikipedia.org/wiki/File:Gold_Spot_Price_per_Gram_from_Jan_1971_to_Jan_2012.svg

That's my thinking. Others may have a different opinion. Good for them. My thinking -- for what it's worth -- is that a US $100 bill is going to be worth as much as a 100-rouble note of the Soviet Union after it collapsed. What maintains the value of the dollar is the USA's ability -- backed by armed force -- to have it accepted as payment for real goods. Without this armed force the USA and its currency would have imploded because of inherent economic weaknesses a long time ago -- something familiar to Argentinians. With armed force, the USA has bought itself a bit of time -- which I suspect is running out. And which the rest of the world is cottoning on to. The various bilateral agreements which various countries are entering into are designed to circumvent the dollar and, incidentally, to avoid disruption when the USD stops being the reserve. I don't think there will be a "global economic collapse" -- my feeling is that like the cheshire cat, the USD will disappear as reserve, US economic power will vanish (what remains of it, that is), and the rest of the world will go on merrily without it. My two cents.

The absurdity of the comparison to the soviet union is that it didn't engage in foreign trade making the ruble necessarily worthless in foreign terms.

Who cares about the dollar. The value of an economy is what it produces, not the paper it uses to trade it. If you invest in globally diversified investments, currencies are effectively meaningless.

 

[bigbadwolf]

The absurdity of the comparison to the soviet union is that it didn't engage in foreign trade making the ruble necessarily worthless in foreign terms.

Who cares about the dollar. The value of an economy is what it produces, not the paper it uses to trade it. If you invest in globally diversified investments, currencies are effectively meaningless.

No, they're not meaningless. Your investments in dollar-denominated instruments are going to take a major hit. It does matter. And the comparison with the Soviet Union is apt for the following reasons:

1) Both countries living beyond their means. The Soviet Union had a dilapidated and burueaucratic industrial system while the US has exported big chunks of its own. Hence the presistent current account deficits -- which in any other country would have necessitated major devaluation a long time ago. Just as the Soviet Union had to import to survive, so with the USA today.

2) Both countries defending an ultimately indefensible status quo and caught in political paralysis and ossification.

Dmitry explains it better:

http://www.resilience.org/stories/2006-12-04/closing-collapse-gap-ussr-was-better-prepared-collapse-us

 

[Matiasba]

Dmitry explains it better:

http://www.resilienc...red-collapse-us

Thanks for the link. Very interesting.

(although lots of things are not true, but in general I agree)

 

[bigbadwolf]

Thanks for the link. Very interesting.

(although lots of things are not true, but in general I agree)

He wrote that years ago. He subsequiently expanded that into book form, Reinventing Collapse: The Soviet Experience and American Prospects. He also has a newer book out, titled The Five Stages of Collapse. Of course nothing he writes should be taken as gospel truth and it's a matter of picking and choosing what resonates with you. I follow his blog:

http://cluborlov.blogspot.com/

as well as those of Jim Kunstler:

http://kunstler.com/writings/clusterfuck-nation/

and J.M. Greer:

http://thearchdruidreport.blogspot.com/