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The Corroboree
Mr Stay Puft

Wheres your cash at?

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I'd still recommend using Bitcoin as one of the hedge bets you place.

For now, it's best used mostly as a store of value rather than an everyday spending tool... Unless you're doing the whole remittance thing which it'll cut down a bit of the overhead for.

I outlined in the thread a few years back ( and it's still true) that Bitcoin is still wayyy under it's potential market cap -- Being cheaper to use and faster to send value worldwide than institutions like western union and paypal (but perhaps not as ubiquitous) , without the possibility of the middle men freezing your account arbitrarily. It is however subject to more risk through price volatility ( with it behaving much like a stock -- Though it most certainly is not - - Really being more akin to gold and other natural resources that don't have a CEO or board of directors that have the final say what happens to its creation.

Not an all your eggs in this basket kind of deal but certainty something to consider for your high risk high gain portfolio.

I'd read this https://medium.com/@octskyward/the-resolution-of-the-bitcoin-experiment-dabb30201f7#.4qflkijw4 before sinking too much cash into bitcoin - I mean I take most thing on the internet with a grain of salt - especially where money is concerned - but some of this does sound pretty bad.

To get back OT, WTF is happening and what to do about it? Hard questions to answer. There is some seriousness unwinding of bad debt in China and elsewhere to be dealt with (debt fuels growth, which is required to service the previous round of debt). In some ways it would be better to get this over with so this de-leveraging doesn't coincide with the increasing unemployment caused by automation - the so-called 4th industrial revolution. And while I'd love to see land become more affordable, mass negative equity could fuck the banks sideways. Nor is having all my savings in cash stuffed in a mattress appealing - I wouldn't want people to know I had money in my home - especially if the economy has gone belly-up.

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I'd take Hearn's exit writeup with a few barrels of salt tbh. His vision of what bitcoin should be is quite adverse to the rest of the community. Hypocritically stating the centralization of mining power in china being worrisome while championing centralization in much more rigid and unchangeable ways.

Put tersly, he's a sell out, who's following the money with only self interest involved. Previous to his exit piece he's joined a financial conglomerate named R3 (A consortium of some 40+ banks and other financial institutions aiming to bastardize Bitcoin by using blockchain technology in a manner which the nodes are ONLY the financial institutions ( much the same as our current fiat systems are structured ) ) -- It's now in his (and his employers) interest to undermine Bitcoin ( cue his FUD spreading medium log).
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You might well be right - I don't know either way and am happy to defer to someone with more experience with bitcoin. Spreading your financial risk so that it take more than the collapse of one currency, or crypto-currency, is still probably a prudent move though. (Note, I don't want to turn this into a conversation just about bitcoin, just thought I'd mention something I'd read recently).

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I have a mate who has a safe full of silver, lol I thought it was all bought on paper, but he actually takes his ute to pick up silver And loads it into a safe.. ..

I have been toying with the idea of a self managed super fund and buying precious metals, as commodities are obviously more valuable than money if currency collapses... too bad there are so many fees involved in doing this.. ...

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Where's my cash at? I invested mine in glass.

A glass jar to be more precise. I reckon if I emptied it out there might be $12 or so in there.

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I have a mate who has a safe full of silver, lol I thought it was all bought on paper, but he actually takes his ute to pick up silver And loads it into a safe.. ..

I have been toying with the idea of a self managed super fund and buying precious metals, as commodities are obviously more valuable than money if currency collapses... too bad there are so many fees involved in doing this.. ...

if you can't touch it you don't own it.

another saying they have is that my lead takes your gold (or something like that, maybe snappier, but the implication being that your unprotected gold quickly becomes the property of someone else.

.. as for paper gold, i've read that paper gold exceeds the total mass of gold that has ever been mined and hoarded by a factor of ten. it's a way to expose yourself to the price of gold eg sell your paper gold when it is profitable to do so. unfortunately it's impossible that every ounce of paper gold could be redeemed for something of value in the kind of situation the world is headed towards.

---------

during the great depression money was scarce but people still knew how to survive without money, that is no longer true.

we semi-agrarian types probably have better adapted households, skills and coping mechanisms than most other city-dweller demographics to make up for our lack of erm robust portfolios.

i'm curious if anybody is accelerating their plans for self-sufficiency, cutting back on luxury expenditure....

Edited by ThunderIdeal

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I believe paper gold traded exceeds real gold value by several thousand to one. There's many types of paper gold, there's unallocated gold, ETF's, gold leasing, gold futures, gold options etc etc. Most of the time when you think you are buying gold you are becoming a creditor for a financial institution.

In the event of a financial collapse if the institution you purchased your paper gold through goes broke there's no chance to get anything back, as you hinted at with the comment about not owning it if you can't touch it.

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I've never been into luxury expenditure - not like some people I know. And I'm definitely accelerating my plan to make my lifestyle more self-sufficient, if not actually agrarian. Depending who you are listening to, there isn't a portfolio robust enough to completely insulate your standard of living from what is coming.

I've heard several people in the past few days - including Satyajit Das on RN this morning and this guy from the OECD - talk about the level of global debt. Basically, there's too much to ever pay back. The debt of the past 30 years has predominately gone into inflating the value of assets. No one is a rich as they think they are. If you hold significant assets, then their value may well be over-inflated. Bit of a bummer, but not catastrophic in an of itself. But if you borrowed to finance these assets, then that debt, which is someone else's asset, isn't worth as much either. You can never pay your debt, and whoever you owe that debt to can never collect that money, and now their ability to borrow is now toast, as is their ability to lend. Times that by a really big number, and throw in a few excitingly re-packaged financial instruments (less common now post-gfc, but you never know). Sally's comments regarding gold are an illustration of what has potentially happened across a very broad range of assets and commodities.

Eventually people will notice - then it's just a matter of how disorderly the 'adjustment' or debt jubilee is. One day you are rich - look at all of that 'gold' you bought online just now. The next day, bam, you are a creditor holding debt that is worse than worthless and your money has evaporated - largely because, in some ways, it never really existed in the first place.

Debt is central to modern economies, I'm not sure what things would be like without it. Predictions range between a mild but protracted economic stagnation to a full-blown chaotic-as-bugfuck interregnum. If things turned bad, I would prefer to be on an acreage with a long driveway and a decent swarm of mechatronic helpers. Suburbia has a nasty undercurrent in places. Poverty and inequality never made anywhere any nicer, but I grew up poor (cash-poor at least) in the country and I know how to deal with that.

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www.silverstackers.com

Edited by J Smith
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There are options Yeti, just look at what went down in Iceland. They wrote off all foreign owned debt and just started again under state control - they cut the Rothschilds out of the loop and arrested the bastards.

They went through a brief correction period of negative growth but the economy bounced back in quick time and returned to growth. Admittedly our exposure here is different and doesn't have the speculative interest that Iceland does, so the correction period will be much longer, but we have to get off this merry go round before it sinks us.

The world is under a spell where foreign nationals issue currency backed by the debt of other (largely insolvent) currency. It's systematic madness.

Putin has delivered a golden cross, now we just need the rest of the world to follow through and put the ball into the net.

The Rothschilds now control the central banking infrastructure for almost every country on Earth and have a controlling interest in international markets, if they were cut out of the loop things would recover in 5 years or less and the world could flourish again.

Sorry for the idiot analysis but it does make a good point

Edited by Sallubrious
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List of central banks controlled by the Rothschild family January 2016. A few notable omissions and additions this year.

Afghanistan: Bank of Afghanistan

Albania: Bank of Albania
Algeria: Bank of Algeria
Argentina: Central Bank of Argentina
Armenia: Central Bank of Armenia
Aruba: Central Bank of Aruba
Australia: Reserve Bank of Australia
Austria: Austrian National Bank
Azerbaijan: Central Bank of Azerbaijan Republic
Bahamas: Central Bank of The Bahamas
Bahrain: Central Bank of Bahrain
Bangladesh: Bangladesh Bank
Barbados: Central Bank of Barbados
Belarus: National Bank of the Republic of Belarus
Belgium: National Bank of Belgium
Belize: Central Bank of Belize
Benin: Central Bank of West African States (BCEAO)
Bermuda: Bermuda Monetary Authority
Bhutan: Royal Monetary Authority of Bhutan
Bolivia: Central Bank of Bolivia
Bosnia: Central Bank of Bosnia and Herzegovina
Botswana: Bank of Botswana
Brazil: Central Bank of Brazil
Bulgaria: Bulgarian National Bank
Burkina Faso: Central Bank of West African States (BCEAO)
Burundi: Bank of the Republic of Burundi
Cambodia: National Bank of Cambodia
Cameroon: Bank of Central African States
Canada: Bank of Canada – Banque du Canada
Cayman Islands: Cayman Islands Monetary Authority
Central African Republic: Bank of Central African States
Chad: Bank of Central African States
Chile: Central Bank of Chile

China: The People’s Bank of China

Colombia: Bank of the Republic
Comoros: Central Bank of Comoros
Congo: Bank of Central African States
Costa Rica: Central Bank of Costa Rica
Côte d’Ivoire: Central Bank of West African States (BCEAO)
Croatia: Croatian National Bank
Cuba: Central Bank of Cuba
Cyprus: Central Bank of Cyprus
Czech Republic: Czech National Bank
Denmark: National Bank of Denmark
Dominican Republic: Central Bank of the Dominican Republic
East Caribbean area: Eastern Caribbean Central Bank
Ecuador: Central Bank of Ecuador
Egypt: Central Bank of Egypt
El Salvador: Central Reserve Bank of El Salvador
Equatorial Guinea: Bank of Central African States
Estonia: Bank of Estonia
Ethiopia: National Bank of Ethiopia
European Union: European Central Bank

Fiji: Reserve Bank of Fiji
Finland: Bank of Finland
France: Bank of France
Gabon: Bank of Central African States
The Gambia: Central Bank of The Gambia
Georgia: National Bank of Georgia
Germany: Deutsche Bundesbank
Ghana: Bank of Ghana
Greece: Bank of Greece
Guatemala: Bank of Guatemala

Guinea Bissau: Central Bank of West African States (BCEAO)

Guyana: Bank of Guyana
Haiti: Central Bank of Haiti
Honduras: Central Bank of Honduras
Hong Kong: Hong Kong Monetary Authority
Hungary: Magyar Nemzeti Bank
Iceland: Central Bank of Iceland
India: Reserve Bank of India
Indonesia: Bank Indonesia
Iran: The Central Bank of the Islamic Republic of Iran

Iraq: Central Bank of Iraq

Ireland: Central Bank and Financial Services Authority of Ireland
Israel: Bank of Israel
Italy: Bank of Italy
Jamaica: Bank of Jamaica
Japan: Bank of Japan
Jordan: Central Bank of Jordan
Kazakhstan: National Bank of Kazakhstan
Kenya: Central Bank of Kenya
Korea: Bank of Korea
Kuwait: Central Bank of Kuwait
Kyrgyzstan: National Bank of the Kyrgyz Republic
Latvia: Bank of Latvia
Lebanon: Central Bank of Lebanon
Lesotho: Central Bank of Lesotho

Libya: Central Bank of Libya

Uruguay: Central Bank of Uruguay
Lithuania: Bank of Lithuania
Luxembourg: Central Bank of Luxembourg
Macao: Monetary Authority of Macao
Macedonia: National Bank of the Republic of Macedonia
Madagascar: Central Bank of Madagascar
Malawi: Reserve Bank of Malawi
Malaysia: Central Bank of Malaysia
Mali: Central Bank of West African States (BCEAO)
Malta: Central Bank of Malta
Mauritius: Bank of Mauritius
Mexico: Bank of Mexico
Moldova: National Bank of Moldova
Mongolia: Bank of Mongolia
Montenegro: Central Bank of Montenegro
Morocco: Bank of Morocco
Mozambique: Bank of Mozambique
Namibia: Bank of Namibia
Nepal: Central Bank of Nepal
Netherlands: Netherlands Bank
Netherlands Antilles: Bank of the Netherlands Antilles
New Zealand: Reserve Bank of New Zealand
Nicaragua: Central Bank of Nicaragua
Niger: Central Bank of West African States (BCEAO)
Nigeria: Central Bank of Nigeria
Norway: Central Bank of Norway
Oman: Central Bank of Oman
Pakistan: State Bank of Pakistan
Papua New Guinea: Bank of Papua New Guinea
Paraguay: Central Bank of Paraguay
Peru: Central Reserve Bank of Peru
Philip Pines: Bangko Sentral ng Pilipinas
Poland: National Bank of Poland
Portugal: Bank of Portugal
Qatar: Qatar Central Bank
Romania: National Bank of Romania
Russia: Central Bank of Russia

Rwanda: National Bank of Rwanda
San Marino: Central Bank of the Republic of San Marino
Samoa: Central Bank of Samoa
Saudi Arabia: Saudi Arabian Monetary Agency

Senegal: Central Bank of West African States (BCEAO)
Serbia: National Bank of Serbia
Seychelles: Central Bank of Seychelles
Sierra Leone: Bank of Sierra Leone
Singapore: Monetary Authority of Singapore
Slovakia: National Bank of Slovakia
Slovenia: Bank of Slovenia
Solomon Islands: Central Bank of Solomon Islands
South Africa: South African Reserve Bank
Spain: Bank of Spain
Sri Lanka: Central Bank of Sri Lanka
Sudan: Bank of Sudan
Surinam: Central Bank of Suriname
Swaziland: The Central Bank of Swaziland
Sweden: Sveriges Riksbank
Switzerland: Swiss National Bank

Tajikistan: National Bank of Tajikistan
Tanzania: Bank of Tanzania
Thailand: Bank of Thailand
Togo: Central Bank of West African States (BCEAO)
Tonga: National Reserve Bank of Tonga
Trinidad and Tobago: Central Bank of Trinidad and Tobago
Tunisia: Central Bank of Tunisia
Turkey: Central Bank of the Republic of Turkey

Uganda: Bank of Uganda
Ukraine: National Bank of Ukraine
United Arab Emirates: Central Bank of United Arab Emirates

United Kingdom: Bank of England

United States: Federal Reserve, Federal Reserve Bank of New York

Vanuatu: Reserve Bank of Vanuatu
Venezuela: Central Bank of Venezuela

Vietnam: The State Bank of Vietnam
Yemen: Central Bank of Yemen
Zambia: Bank of Zambia
Zimbabwe: Reserve Bank of Zimbabwe
Banks owned or controlled by the Rothschilds
Bank For International Settlements (BIS)

“Give me control over a nations currency, and I care not who makes its laws” – Baron M.A. Rothschild

"Let's let the market self regulate and when it goes cunt up (again) let the taxpayers foot the the bill again" - Sallubrious

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While I maintain a respectful agnosticism regarding the Rothschilds and their activities, I do think that it is worth watching the actions of the ultra-rich at at times like this.

(edit: gosh-darned auto-correct. I should know better)

Edited by Yeti101

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List of central banks controlled by the Rothschild family January 2016. A few notable omissions and additions this year.

Australia: Reserve Bank of Australia

Who suggested this and how is it the case? Can you please provide a source and further information to substantiate.

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Who suggested this and how is it the case? Can you please provide a source and further information to substantiate.

I wrote that in capitals in the hope someone would pick up on it and ask some questions. I've been trying to get clarification on that issue myself for years.

To be totally honest Tarrena it's not a clear cut issue. On one hand we know that the RBA is controlled by the Commonwealth of Australia, so if we take that on face value it seems it's a wholly Australian controlled entity.

Then from another perspective the Commonwealth of Australia is registered as corporation in the USA

FOI requests from citizens in Australia asking the government about whether the corporation listed as the Commonwealth of Australia is the same organisation as the Commonwealth of Australia which is authorised by the Queen under the Commonwealth of Australia Constitution went unanswered and the question still begs. If it is not the same entity then there seems to be breaches of the Commonwealth of Australia Constitution.

So really, it's not public knowledge and for some reason the government has suppressed the facts. Normally sensitve information in replies to FOI requests are blacked out, but relevant documents are supplied and further research can be carried out. In this case no relevant information was supplied.

https://www.righttoknow.org.au/request/is_the_commonwealth_of_australia

A comment at the very bottom of that page seems to indicate the COA is registered as foreign government on the US securities and Echange Commission, but also leaves some doubt about the status of the registration on the business registry.

There have been numerous other similar requests that have also been ignored, which is hard to understand, it's not a difficult question.

So even if we accept that the RBA is owned by the commonwealth of Australia we have to look into who controls the commonwealth of Australia - that would appear be the Queen.

So after that long winded reply, I have to admit I can't supply any proof just speculation and circumstantial observations.

Edited by Sallubrious

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