Broad Oak: your emotional support animal

Saturday, August 30, 2008

Financial Apocalypse Now

Cash, Gold, and Swiss gov't bonds.

In 7 years, it could very well be that a Krugerrand buys a decent house!

... says an anonymous commentator on Nourishing Obscurity, after listing multiple dire threats to our wealth and security. Any other expert care to give a view - and put his/her name to it?

6 comments:

Wolfie said...

As you know, I'm a bear - but not that bear.

CityUnslicker said...

it is a silly post that one. You can tell because illuminati etc get mentioned.

Dan Brown wrote fiction.

£/$ will fall in unison. A falling dollar will save the US and damage east asia and opec.

The Euro though is in the most peril, as is clear to see.

SACKERSON said...

And yet others have held up the Euro as a currency of refuge - financial probity from an organisation whose accounts haven't been approved for a decade! What do you reckon - yen, Swiss franc, or a punt on the new Zimbabwean dollar?

SACKERSON said...

... or the rupee?

dearieme said...

I have a newspaper cutting from the 90s somewhere - the three governments with a decent record of not defaulting on their debts are Sweden, Switzerland and UK/GB/England. That's it: three. Of course, the fact that it goes back to England tells you something about how long a record needs to be to be reckoned "decent".

Anonymous said...

Don't know about UK not defaulting on its debts. After WWII UK debt was 250% of GDP. We didn't exactly pay it off - we simply slowly printed money and injected into the economy until the debt looked a lot smaller 40 years later. Its a clever trick if you can do it...