How much money did you lose on Black Monday?

Yipsy · 2024-08-05T17:12:05+00:00

It isn't over but I will start off by singing a lyric from a classic song by The Cars. My best friend's girlfriend used to be mine.

azgreg

Bravopilot
It's what I saw in a Bloomberg piece. I guess it's not entirely a country, more of a territory of China apparently.

Par4QC

Yipsy I hope this tarries until you no longer need your money. You seem contented with a potential 50% loss. What if it's 100%?

Yipsy People are prone to keep throwing dice until they're completely out of money.

For the benefit of us all, please let us in on what will happen when everyone, every business, and esp....every country in the world has no money. Which is an ABSOLUTE....impossibility.

Does life cease? Will the rivers and oceans overflow their banks, with all the bodies that jumped?

I was going to be a nice guy the rest of the year on here, but............what a fucking dope!!

SMT

Par4QC I was going to be a nice guy the rest of the year on here, but............what a fucking dope!!

LMAO

SMT

Bravopilot

I thought it was a bird. hahahaha

Giphy - parrot GIF

garyt1957

Yipsy You seem contented with a potential 50% loss. What if it's 100%?

I'm not content with any loss and if it's 100% we're all fucked. You seem like a doom and gloom guy. I can't be that way or maybe I just refuse to be that way. But you do you.

Sneakylong

Yipsy People trying to make a buck will always say this. No interest in making a buck on my end.

This time may not be different. That has expiration. One of these times the cry wolfs will be right. That time is close

You were spewing the same chicken little garbage when you posted this under Toulon. Again, as was pointed out to you we hold most of our own debt. We have the strongest economy in the world.

Is it possible the big banks could screw up again like in 08 / 09 and risk bringing down the economy? Yes. That’s why regulation is a good thing. We tied laissez-faire economics and it helped give us the Great Depression.

Btw. A good book (Michael Lewis) / movie is The Big Short. Tells the story of the few who saw the sub prime mortgage mess a couple years before the shit hit the fan and shorted it. But I digress.

Par4QC

Yipsy Why would anyone need money.....when no one has money?

Do you think when all money runs out, is completely gone, that people will not still do what they are doing now?

Par4QC

Yipsy in the belief your money will always be safe

I never said that. Have never even thought that. You are the one worried about money and saying it will be gone soon.
I'm merely saying....."so what"?

Par4QC

Yipsy I'm glad you've already accepted it.

There really is nothing to 'accept'.

If 1 person only, had all the money in the world, what good would it do them? They will not pay you for anything, buy anything, give anything because they would not have all the money then. It is why they have all the money; they wanted it all.
But it does them no good.

If the banks have no money, and you have a mortgage, and no money....will they kick you out? 🤔

Weirfan

Don't forget that this is the clown who was certain that the grocery store poisoned his family's milk amongst the other outlandish psychosis related situations that lacked any sense of reality.

azgreg

Yipsy You sound like you need help

Giphy - Pun Reaction GIF

azgreg

Yipsy
To answer the original question: Nothing. In fact our portfolio is larger today than it was at this time last week.

johnnydoom

I believe in uncertainty as much as anyone, but what else to do with investments? Any kind of digital wealth can be taken by the government or others at will if and when they decide they want it. And then, even if I had it all in gold in my backyard, as soon as I tried to barter with it and someone knows I have it how long will it be until someone kills me to get it? If it's a great depression where some sense of civility is maintained I could see diversification working, but I see a very dark future if the world economy crashes now. With 8 billion people looking for food it ain't gonna be pretty. I often wonder about the preppers and how they'll be able to fight off either the government or the armed hoards that come after their thoughtfully stashed stuff.

Par4QC

johnnydoom if the world economy crashes now. With 8 billion people looking for food it ain't gonna be pretty.

This is not 100 years ago. And people are looking for food today anyway.

Let me ask you, as I asked Yipsy......is everything going to cease during this time? And all food sources will be let go to hell? Processing plants, bakeries, etc. will just shut down? Electricity will no longer be available? No factories will manufacture anything? Oil will just stay in the ground, no gas?

IOW....is no one going to continue to work because they will not get any cash? If that is so, everyone is going to die this time around. Deservedly so, imo. Let's call it suicide, in fact.

ode

johnnydoom often wonder about the preppers and how they'll be able to fight off either the government or the armed hoards that come after their thoughtfully stashed stuff.

That's why those apocalyptic movies are so good🤔🙃

[deleted]

If all monetary markets collapsed, the most heavily armed people win.

johnnydoom

Par4QC I don't know what will happen at that time, but I do believe the food supply chain will break for a large population of the planet as very few industries are self contained anymore but rely heavily on suppliers from all parts of the globe. Do I sit around and worry about it? No. But I do believe that there is an attitude among most of the people that will be "I'm going to get what I can now" vs. lets all work together through this. Maybe not, but I don't think there is leadership or cohesion that can or will engender that spirit.

Ack8236

Already stocking up my bunker.

rsvman2

What good would gold do? I have to laugh at the people who think somehow gold is 'safer.'

You can't eat it. Well, not very much of it, anyway, and certainly couldn't rely on it for full nutrition. Who is going to buy it from you when the market is gone? Who's going to trade you food for it, when everybody is hungry?

funniest part of all those radio ads is that they are telling you how much better gold is than money. But THEY have the gold, and I have the money, and they are trying to make the trade! If gold is better than money, why are you trying to trade it for money? 🤣

Walterjn

rsvman2 I believe that the guys selling the gold see it more as an investment when the dollar collapses. Not the apocalypse. Gold will never lose its value, compared to the US dollar, which is no longer based on the gold standard. Although, even after the apocalypse, there will still be wanting to trade for gold, no matter what they part with.

bigshank

Walterjn I just checked $2438 an ounce. Damn. In a Mad Max world scenario it might buy you some water or a death though.

Weirfan

Walterjn

Thats one reason for sure.
Mainly however it's considered a hedge against inflation and also provides some protection in terms of deflation. Moreover, gold is really just another asset class that provides some diversity in your portfolio. Gold has historically displayed an inverse relationship to equities so again offers portfolio diversification and protection.

Some physical gold makes sense to have in a diversified portfolio. You don't want all stocks, all bonds , all cash and you don't even have to take possession of physical gold so pretty easy. There are even physically backed gold ETf's

I've generally held from 5-10% of my investment portfolio in physical gold. Have just lightened up by selling some as it breached my sell target. But Will add back when it drops to the $2000 price again.

I've also held some gold stocks as we have many up here , typically using an ETF as a basket of stocks mitigates risk. Don't own any currently as I'm mostly in cash at the moment as I do most summers

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