Page 1 of 2 12 LastLast
Results 1 to 10 of 13

Thread: Major European Bank Suggests Global Economic Collapse In Next Two Years

  1. #1
    Funding Member
    „Friend of Germanics”
    Funding Membership Inactive
    Nachtengel's Avatar
    Join Date
    Jul 2008
    Last Online
    @
    Ethnicity
    German
    Gender
    Posts
    6,344
    Thanks Thanks Given 
    196
    Thanks Thanks Received 
    1,131
    Thanked in
    649 Posts

    Major European Bank Suggests Global Economic Collapse In Next Two Years

    Société Générale [based in Paris, and one of Europe's largest banks] has advised clients to be ready for a possible "global economic collapse" over the next two years, mapping a strategy of defensive investments to avoid wealth destruction. In a report entitled "Worst-case debt scenario", the bank's asset team said state rescue packages over the last year have merely transferred private liabilities onto sagging sovereign shoulders, creating a fresh set of problems. Overall debt is still far too high in almost all rich economies as a share of GDP (350 percent in the US), whether public or private. It must be reduced by the hard slog of "deleveraging", for years.
    Continued: http://www.telegraph.co.uk/finance/e...-collapse.html

  2. #2
    Moderator
    „Friend of Germanics”
    Funding Membership Inactive
    GroeneWolf's Avatar
    Join Date
    Aug 2007
    Last Online
    @
    Ethnicity
    Dutch
    Subrace
    Don't know
    Country
    Netherlands Netherlands
    State
    Utrecht Utrecht
    Gender
    Age
    38
    Family
    Single adult
    Posts
    3,078
    Thanks Thanks Given 
    336
    Thanks Thanks Received 
    439
    Thanked in
    246 Posts
    The article does not say much new. However this deserves comment :

    Inflating debt away might be seen by some governments as a lesser of evils.
    This sentence is the core of why inflation is considered good. Thanks to inflation the relative burden of debt will decrease. Also thanks to all the money that the American FED and probably other central banks have printed to support all the bail-out programs you can be certain that could have a (strong) devaluing effect in a few years time. A report I have read said 2012 for America, because according to writer of it then the printed bail-out will slip in to the economy.

    And I actually highly doubt that it only be some governments. Most likely many governments. Most likely a vast majority of governments would not only see it as a lesser evil, but as something good. Why? Because inflation is already established policy.

    Also about buying gold. Could be a good thing, however during the Depression in the USA at least private gold supplies where seized by the government and handed over to the FED. So that is something to hold in the back of your mind if you go for investing in gold.

  3. #3
    Senior Member
    SwordOfTheVistula's Avatar
    Join Date
    Aug 2007
    Last Online
    Sunday, July 1st, 2012 @ 12:21 PM
    Ethnicity
    German
    Ancestry
    50% German, 25% English, 25% Irish
    Subrace
    Nordid
    Country
    United States United States
    State
    Virginia Virginia
    Location
    Washington DC
    Gender
    Age
    41
    Family
    Single adult
    Occupation
    Construction, writer/editor
    Politics
    Libertarian
    Religion
    Atheist
    Posts
    2,990
    Thanks Thanks Given 
    0
    Thanks Thanks Received 
    50
    Thanked in
    50 Posts
    Quote Originally Posted by GroeneWolf View Post
    Also about buying gold. Could be a good thing, however during the Depression in the USA at least private gold supplies where seized by the government and handed over to the FED. So that is something to hold in the back of your mind if you go for investing in gold.
    Since most gold is sold on exchanges and not held in person, it would be even easier for them to do this today. I think an even more likely scenario would be for them to levy a high 'capital gains' tax on the appreciation of the gold, or any other investment, when you try to cash it out and make use of it.
    Contact Congress on immigration
    Contact Congress to reject banker bailout
    "Those who would give up Essential Liberty to purchase a little Temporary Safety, deserve neither Liberty nor Safety." --Ben Franklin

  4. #4
    Bloodhound
    „Friend of Germanics”
    Funding Membership Inactive
    Jäger's Avatar
    Join Date
    Oct 2004
    Last Online
    @
    Ethnicity
    German
    Ancestry
    Atlantean
    Gender
    Posts
    4,403
    Thanks Thanks Given 
    23
    Thanks Thanks Received 
    110
    Thanked in
    79 Posts
    Quote Originally Posted by SwordOfTheVistula View Post
    Since most gold is sold on exchanges and not held in person, it would be even easier for them to do this today.
    Gold certificates are only used by professional speculators (which is of course the lion share of gold trade), anyone who buys gold for security reasons, and accepts that it is being stored in no immediate, or direct, access, is highly idiotic, and most even know this.
    "Nothing is more disgusting than the majority: because it consists of a few powerful predecessors, of rogues who adapt themselves, of weak who assimilate themselves, and the masses who imitate without knowing at all what they want." (Johann Wolfgang Goethe)

  5. #5
    Proffessional Hickerbilly
    „Friend of Germanics”
    Funding Membership Inactive
    SpearBrave's Avatar
    Join Date
    Apr 2009
    Last Online
    1 Week Ago @ 11:21 AM
    Status
    Available
    Ethnicity
    American of German decent
    Ancestry
    Bavaria/Switzerland
    Country
    Other Other
    State
    Kentucky Kentucky
    Location
    Central
    Gender
    Age
    53
    Zodiac Sign
    Libra
    Family
    Married
    Occupation
    Kunstschmiede
    Politics
    Self-Reliance
    Religion
    Asatru
    Posts
    4,574
    Thanks Thanks Given 
    2,796
    Thanks Thanks Received 
    1,372
    Thanked in
    641 Posts
    Buying gold, silver, and other precious metals is always risky. I think if you do buy gold, buy it in the form of coins, bars, or other physical things. Do not buy it on paper.

    I listen to the radio a lot and I hear adds to buy gold. They mean gold futures not real gold. I always question who is behind this market, it seems like the same people who are always behind such things. I will never trust adds like that or the people behind them.

    There is no doubt that the global currency market will fold one day, just when is the big question. My Grandfather was very wise man and lived through the depression, He always said " never trust a banker or barrister they are mostly jews".

  6. #6
    Active Funding Member
    „Friend of Germanics”
    Skadi Funding Member
    Æmeric's Avatar
    Join Date
    Nov 2005
    Last Online
    @
    Ethnicity
    Anglo-American
    Ancestry
    Britain, Ulster, Germany, America
    Subrace
    Dalofaelid+Baltid/Borreby
    Y-DNA
    R-Z19
    mtDNA
    U5a2c
    Country
    United States United States
    State
    Indiana Indiana
    Gender
    Age
    58
    Family
    Married
    Politics
    Anti-Obama
    Religion
    Conservative Protestantism
    Posts
    6,316
    Thanks Thanks Given 
    612
    Thanks Thanks Received 
    714
    Thanked in
    358 Posts
    Quote Originally Posted by SwordOfTheVistula View Post
    Since most gold is sold on exchanges and not held in person, it would be even easier for them to do this today. I think an even more likely scenario would be for them to levy a high 'capital gains' tax on the appreciation of the gold, or any other investment, when you try to cash it out and make use of it.
    The capital gains tax on gold coins (they count as collectables) is 28% or 35% if owned for less then a year.
    Quote Originally Posted by Jäger View Post
    Gold certificates are only used by professional speculators (which is of course the lion share of gold trade), anyone who buys gold for security reasons, and accepts that it is being stored in no immediate, or direct, access, is highly idiotic, and most even know this.
    Getting physical possession of the gold & keeping it in a home safe or a safe deposit box is the sanest way of investing in gold. Also, if you buy in smaller amounts - gold coins, troy ounce bars - & pay cash, there should be no record of your ownership.

  7. #7
    Moderator
    „Friend of Germanics”
    Funding Membership Inactive
    GroeneWolf's Avatar
    Join Date
    Aug 2007
    Last Online
    @
    Ethnicity
    Dutch
    Subrace
    Don't know
    Country
    Netherlands Netherlands
    State
    Utrecht Utrecht
    Gender
    Age
    38
    Family
    Single adult
    Posts
    3,078
    Thanks Thanks Given 
    336
    Thanks Thanks Received 
    439
    Thanked in
    246 Posts
    Quote Originally Posted by J Baughman View Post
    I listen to the radio a lot and I hear adds to buy gold. They mean gold futures not real gold. I always question who is behind this market, it seems like the same people who are always behind such things. I will never trust adds like that or the people behind them.
    From what I have read if anyone has bought any gold futures they can just as well use them as toilet paper. Because there is very little gold behind those futures. So if it comes done to it there is a large change those futures will be worthless.

  8. #8
    Senior Member
    SaxonPagan's Avatar
    Join Date
    Oct 2009
    Last Online
    Thursday, October 31st, 2019 @ 03:26 AM
    Ethnicity
    English
    Ancestry
    English, Anglo-Saxon
    Country
    England England
    Location
    South Coast
    Gender
    Zodiac Sign
    Aries
    Family
    Married
    Occupation
    Self Employed
    Politics
    Free Speech / Anti-EU
    Religion
    Pagan
    Posts
    5,038
    Thanks Thanks Given 
    1,584
    Thanks Thanks Received 
    2,648
    Thanked in
    1,425 Posts
    I can also foresee a financial meltdown pretty soon. Central banks just can't keep printing money at the current rate and not expect hyperinflation to occur and it's all about knowing what assets to hold when this happens. I watched that video you posted, Groenewolf, about gold going to $5000 and it wouldn't surprise me because it's undervalued at present (deliberately suppressed by the Fed, I shouldn't wonder!) so gold is an interesting option but, as people are saying, it has to be the physical stuff.

    Other good investments for when the fiat system finally collapses are tangible assets like houses, which have the extra utility value that precious metals do not. Even items like long-conservation food will rocket in value at some point so it's best to get plenty of this in. It sounds a bit like a Doomsday scenario but if a crash happens then all the supermarket shelves will be emptied within 24-36 hours and bear in mind that your advanced warning of this will be ZERO!!!

  9. #9
    Senior Member
    rainman's Avatar
    Join Date
    Sep 2008
    Last Online
    Sunday, February 28th, 2010 @ 05:34 PM
    Ethnicity
    Germanic
    Ancestry
    Scotch-Irish, Welsh, English, Dutch, German, French
    Subrace
    Alpine-Nordic mix
    Country
    United States United States
    State
    Ohio Ohio
    Location
    ohio
    Gender
    Family
    Single, looking
    Politics
    Libertarian/Tribalist
    Religion
    Asatru
    Posts
    1,310
    Thanks Thanks Given 
    0
    Thanks Thanks Received 
    16
    Thanked in
    16 Posts
    They take a $50 ounce of gold and turn it into a $500 gold coin. Never buy a gold coin they are just luxury items- collectables like baseball cards with little real value. Yeah buy like a bar of Gold. I would invest in everyday items which you would pick up at a hardware store. They are poised to go up in price, everybody needs them so better than gold. So long as it isn't something that will rust or go bad.

  10. #10
    Moderator
    „Friend of Germanics”
    Funding Membership Inactive
    GroeneWolf's Avatar
    Join Date
    Aug 2007
    Last Online
    @
    Ethnicity
    Dutch
    Subrace
    Don't know
    Country
    Netherlands Netherlands
    State
    Utrecht Utrecht
    Gender
    Age
    38
    Family
    Single adult
    Posts
    3,078
    Thanks Thanks Given 
    336
    Thanks Thanks Received 
    439
    Thanked in
    246 Posts
    Quote Originally Posted by rainman View Post
    Never buy a gold coin they are just luxury items- collectables like baseball cards with little real value.
    If i gona buy gold coins, it would be to add them to my coin-collection. However what you say is true also for jewelry. The price of them is usually much higher then what the gold and probably the working hours that went in it. So from an economic point of view not a good investment. However from an other point of view it could be.

Page 1 of 2 12 LastLast

Similar Threads

  1. Replies: 0
    Last Post: Monday, January 30th, 2012, 12:12 AM
  2. The Future Economic Collapse Of Europe
    By Nachtengel in forum Economics, Business, & Finance
    Replies: 0
    Last Post: Friday, May 14th, 2010, 10:06 PM
  3. U.S Economic Collapse
    By Veritas Æquitas in forum Economics, Business, & Finance
    Replies: 8
    Last Post: Saturday, January 3rd, 2009, 02:24 AM
  4. Benelux Bank Fortis Nationalised to Stop Collapse
    By Carl in forum Netherlands & Flanders
    Replies: 3
    Last Post: Friday, October 3rd, 2008, 02:13 AM
  5. Renowned Fund Manager Predicts Complete Global Economic Collapse Within Ten Years
    By tuddorsped in forum Economics, Business, & Finance
    Replies: 33
    Last Post: Thursday, January 19th, 2006, 01:36 AM

Bookmarks

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •