chopera

Yes I mentioned elsewhere that the eurozone meltdown is still to come. This time round Rajoy isn't the Spanish leader, pretending to be a German, so there might be a more united front from the south. I´m not sure anyone, including Germany, can escape this so it might be time for some kind of debt mutualisation, though they´ll probably fudge it somehow.

I'm not convinced about the hyperinflation part though. If banks stop lending, people stop working, and the price of oil plummets then all that is deflationary. Yes governments might try to inflate away the huge amount of debt they'll end up with, but people said the same after the 2008 crisis. It didn't happen. If it does this time, I doubt it´ll happen for a while.

Lagoo

Hi Britishbull, I'm glad I can be of help. The NHS says that adults under 65 need only 40mg vitamin C per day and this will be obtained by the food we eat with no need for supplements. Another NHS page says that there's no proof that Vit C can prevent you getting 'flu. Their UTI page doesn't mention any vitamins. Maybe it's all been put out by the Vitamin C Marketing Board! If you have other information let me know as I'm always happy to learn new stuff

philat98

"The UK economy will fight back and rise up, its in control of its own currency."
With £1.7 trillion personal debt and £1.8trillion public debt even before the current crisis I dont see why the UK is any more stable than the Eurozone.

karlyboy

Its very simple because you have 27 others, and some of the debt levels are far far worse than the UK economy. Recent evidence is case on point, and in the Eurozone they are making plans to have yet another conference call, whilst Rome burns. Spains in a far worse position than people realise, Portugal and Italy too.

karlyboy

Events keep moving through and just now i've been listening to the fact the underlying bailouts are growing, and heading to 6 trillion in the US and they will have unlimited Bazooka guns, but these are dangerous times. Hyper inflation could be one of the consequences. I am more convinced now, we will all head to recession then depression as it plays out.

Lagoo

I'm suspicious of what Karleyboy writes. He quotes an Alasdair Macleod who is at a company named Goldmoney Inc, and karleyboy himself mentions 'fiat' money, a word surely not in the common lexicon.

Many people hate the EU and would love to see its break-up. And ask Norman Lamont if he felt in control of his currency

"I predicted this situation last year" You prediced a pandemic last year? Really?

karlyboy

Be suspicious all you like. Maybe you need to get out more into the financial markets and look up the word "FIAT CURRENCY" its a very common term (see wikipedia fiat currency). Anyone with finance knowledge knows exactly what it means, PAPER MONEY. Each day PAPER MONEY devalues in the bank with more printing. IQuite a few people predicted in 2020, a "BlackSwan". All the indicators pointed to it. But no one knows what it would be. In 2008/9 it was US Sub Prime. You don't need to be a sherlock to see since 2010, we are one decade on, and the problem was not fixed the stock markets are high on cocaine paper money. I would not have predicted a virus, but whilst this is a situation its also a convenience. A "planned" demic, to mask over the fault of the massively inflated financial market and bust currency system. In 2017 Trump made a comment in one of his addresses, he said, one world currency is coming, all currencies will go, no more currency games, and a reset will happen soon and quicker than people think. It was ACTUALLY said at one of his speeches. Clearly Trump is a bit of a nutcase but well, the reset has also been stated by Ron Paul, Lynette Zang, Max Keissler, Egon Von Greyerz, Alastair Macleod and many others. Some believe the IMF will step in and issue drawing rights but there are mixed views on that. The balance sheet of the fed has just gone exponential and passed 5.25 trillion first time ever. If some of you believe this is all OK good luck, but as someone quoted, this could be far far bigger than Lehman depending on how it plays out. The point is plan for the worse and hope for the best. I have no affiliations with people or companies, or anything mentioned in my points to be clear on that front. This was all about house prices initially, and I'm seeing 11, 13, 18, and even higher drops in prices. Already people with AirBNB are cutting their rental costs fast but no one is moving. Events are now in play

Lagoo

Yes I know what fiat currency is and that's what makes me suspicious.

A lot has been said in your posts however nothing seems to be substanciated, just Someone says...., it's known that.... worse than people realise..... some people realise.....

"cocaine paper money" Hmmmmm....

"It was ACTUALLY said at one of his speeches." Hmmmm....

"A "planned" demic, to mask over the fault of the massively inflated financial market and bust currency system." Yea, that's done it.

karlyboy

You seem to ignore expert opinion, after naming people, sources, if you can't accept it, jog on. After pulling a quote out from an industry veteran you then say unname sourced. Get some reading glasses will you, there was a direct quote, look it up, its in the public domain for Pete sake, and Mr Macloud is well know in the precious metals markets, but you are not. Jog on!

Lagoo

Alasdair Macleod knows more about gold trading than I ever will and I'm not ignoring his opinion. Of course it's worth bearing in mind that he works at a company whose mission is to sell gold and precious metals, so making people unsure about the dollar and euro is good business.

However the rest is unreferenced.

Incidentally gold is at about the same price it was in January. You may have predicted a black swan (an enexpected disaster) but it's had no effect on gold's value.

You say that you "moved everything from fiat currency into Gold and assets which hold value. People said I was mad, not they are calling how to do the same. It's all a bit too late now but there are still some options out there." Are we supposed to ask you how? Is this the true purpose of your posts?

Yes I wear reading glasses but cannot go jogging because of the lockdown. How unsensitive of you!

Lagoo

Dear forum

Re my cynicism.

We have a new member, who has only posted in this thread. Perhaps this means one of two things:

1. karlyboy lives in Spain or is thinking of moving here. He's been reading the board but not contributed. At last a topic comes up that he can talk about and what happens, one member keeps doubting him. What a welcome!

2. This forum has been identified as potentially having people with decent savings. With a bit of care these people can be sold gold or other financial products. A good way of selling these is to create the impression that the currency of their savings is going to lose value, a lot of value and very soon.

If it's the first then I hope karlyboy accepts that I mean no malice and just have a suspicious mind. Hopefully I've been doubtful but not rude.

However we should bear in mind the possibility of the second and not let ourselves be carried away at this scary time.

Thank you for reading.

m2m2012

Before the Corona virus Spain was trying hard to reduce it's budget deficit and debt to GDP ratio...

missile

Interesting though it may be, I would suggest we should question everything we hear, read on an internet forum or from so called experts. Opinions are like (fill in the blank)

chopera

Fiat money is a fairly commonly used term when discussing economics, and especially regarding national debts, money supply, etc.

Also the whole point behind Lamont´s problems was that he didn't have control of the pound while it was part of the ERM. As soon as the pound freed itself from the ERM, the UK regained control of it's currency and embarked on something like 15 years of growth. And when the 2008 crisis hit, it was the fact that the UK had its own currency that allowed it to prevent the financial system from collapsing. Not that having control of your currency is without its problems, it's just that it's rather useful when a financial crisis suddenly appears.

Moses2013

I didn't even know young people are still interested in Gold. I thought a polytunnel was a better investment but was probably wrong too.