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Post by SA Hunter on Aug 31, 2018 20:49:15 GMT 10
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Post by spinifex on Sept 1, 2018 12:53:48 GMT 10
This may happen to us one day ... FX is not too hard to manipulate by big players in the market. Then of course it can always come about through 'natural causes' but I like to think our risk of that is low.
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Post by graynomad on Sept 1, 2018 19:31:05 GMT 10
Sounds good, I'll make a fortune with just a few bob in the bank  |
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Post by jonasparker on Sept 2, 2018 4:56:00 GMT 10
Ain't socialism just wonderful?
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Post by spinifex on Sept 2, 2018 19:28:03 GMT 10
Sounds good, I'll make a fortune with just a few bob in the bank If only it were that simple. But if interest is 60% what ya reckon the inflation rate is? I bet the scammers running the big hedge funds around the globe have a clever way of making a sheetload of profit out of this though. Multi currency reverse, inverse yield credit swapping or some such. All that profit will be tax free in the Cayman Islands too ... so ... happy days. |
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Post by graynomad on Sept 2, 2018 20:16:59 GMT 10
Yeah I know, pity the 60% wasn't only on your $ in the bank I remember paying off a house at 18%, I hated it but my parents were well happy as they had a heap in the bank. |
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Post by spinifex on Sept 4, 2018 19:46:39 GMT 10
Did your wages happen to be rising at 18% per annum as well? Or the value of the house? Rates that high would have been a response to pretty high inflation.
The socio-economic system in which we operate does everything possible to make damn sure the very wealthy stay that way and the rest of us take the sting of the economic dramas they create.
I'm a firm believer in capitalism but not the crony version we always seem to get stuck with where if you are connected in the right circles you get free kicks and goals that move to wherever you kick the ball ... and if you're not connected you basically run out onto the field wearing ice-skates and a blindfold.
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fei
Senior Member
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Post by fei on Sept 5, 2018 17:45:23 GMT 10
Will be interesting to see which country is next after Venezuela, Turkey, Argentina, Brazil and others that have had currency collapses lately?
My boss was talking about starting a project in Turkey, but looks like that's been put on hold while the existing projects in Europe are shored up.
While these currency collapses don't affect me personally, you never know when one will set off a chain reaction like the Iceland financial crisis that harmed a lot of pension funds worldwide.
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Post by spinifex on Sept 7, 2018 16:18:18 GMT 10
I seem to recall an Asian currency crisis back in the mid 90's. From my sketchy recollection a bunch of nations including Oz tipped a lot of taxpayer money into helping that resolve ... for exact reason that super funds etc in Oz, US and Europe were all on the hook. Meanwhile Goldman Sachs and other such private wealth institutions made out like bandits.
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spatial
Senior Member
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Post by spatial on Sept 10, 2018 19:25:07 GMT 10
Argentina is now having a run on the banks and they are implementing emergency measures to halt the total crash of their currency. All the IMF bail out money is already gone and the crash continues. China is having stock market crash the second major one since 2015, the gov is also throwing money at the stocks to keep them up momentum is too strong and they are sliding into the abyss. Visualizing Argentina's Bank Run In 1 Crazy Chartwww.zerohedge.com/news/2018-09-06/visualizing-argentinas-bank-run-1-crazy-chart  |
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