In Australia i have wrote for years about how the Government has two choices to either save the currency or save the housing market and stocks. They have chosen to protect the housing market (The banks, big investors, insiders, over we the people) and destroy the currency, but in the end it will all collapse.
The ten year yield has spiked a few times over the last twelve months, but in general it has gone down from when it has pushed 5%, Gregory Mannerino reckons the yield will go down and we will have a melt up on an even greater scale across asset classes. We now have all time highs in stocks, cryptos, land prices, fine arts, real estate and gold.
We seem to be following the Weimar republic or modern day Argentina, Venezuela and Turkey.
This could sadly go on for many more years now, as the middle class and lower class get wiped out, it is modern day feudalism with social welfare for wall street.
The government will save neither the currency nor the markets. Currency destabilization goes to the root of society and we are all being taught the consequences of central planning of interest rates - again.
Reagan and Volcker did want to save the dollar in the 80's and showed some balls to raise rates to nearly 20% to fight off inflation, but the global debt is so much more today.
Everything is about housing downunder, our economy and living standards are collapsing faster than nearly all other western countries. Time and again they protect the housing market and banks over the dollar and we now have capital cities with a medium house price of well over a million. Sydney is 1.6 million!!
Why does no nation want a strong sound dollar and little debt. common sense is all but gone.
Or as many are doing paying $8k to $10k per month for the next 30 years. To my eyes its financial suicide and no way to live and yet many are agreeing to these deals with the banks across the country for a bloody house that is 7x - 10x overpriced.
Sadly it goes much deeper than that down under, but i agree many don't see the bubble for what it is.
Housing comes back to supply/demand and we have flooded the country with legal immigration, we have taken in millions of migrants over the last few years and continues each month which has saved the banks and created enormous price distortions for the market and much higher demand, plus ridiculous polices that favour housing investment with tax loopholes. The rental market is even worse with an incredible 80% of renters now in rental stress across Australia, they can't afford to buy and now can't afford the rent.
We are seeing a wave of locals move to Thailand, Vietnam and Indonesia where prices and life is cheaper, but they are just been swapped with mass India/China and Bangladesh migrants to take there place.
In 08 we never had the crash like the US and Europe did, so we are looking at a 40 year bull run for housing in Australia, that is one reason why people don't step aside as the prices have never come down and people don't know a bear market or crash. Australia and Canada have the same problem.
What we have here and in Canada is far worse that what America had in 08, our bubble is much worse and the Government, central banks and banks are doing all they can to protect it, including destroying the currency and letting inflation run rampant rather than let housing prices crash.
So much greed, it makes you so angry what they have done to these two great countries. The young have been forsaken and have no hope for a better life. I visited Portugal earlier this year and i can still recall a conversation i had with a Canadian girl who served me at a restaurant and can still feel her anger and hatred for Trudeau and Canada and how she had to leave her country as there was no alternative, and this is now growing rapidly.
Thank you for disrobing the magicians for the adults in the room.
My pleasure Bharat.
One only has to listen to the latest ramblings of Mr. Powell about Gold to know: this man has absolutely no clue about money.
But how can he ? He's a Wall Street lawyer.
Just the kind of guy you'd want to run your monetary policy.
Each time I hear him saying price inflation is caused by shortages, I expect people to get up and leave the room.
In fact every time he talks incoherently about gold it drives people into gold.
I can't listen to any of them anymore. They make me sick
Fake financial market prices - ffmp 🤣
In Australia i have wrote for years about how the Government has two choices to either save the currency or save the housing market and stocks. They have chosen to protect the housing market (The banks, big investors, insiders, over we the people) and destroy the currency, but in the end it will all collapse.
The ten year yield has spiked a few times over the last twelve months, but in general it has gone down from when it has pushed 5%, Gregory Mannerino reckons the yield will go down and we will have a melt up on an even greater scale across asset classes. We now have all time highs in stocks, cryptos, land prices, fine arts, real estate and gold.
We seem to be following the Weimar republic or modern day Argentina, Venezuela and Turkey.
This could sadly go on for many more years now, as the middle class and lower class get wiped out, it is modern day feudalism with social welfare for wall street.
The government will save neither the currency nor the markets. Currency destabilization goes to the root of society and we are all being taught the consequences of central planning of interest rates - again.
Reagan and Volcker did want to save the dollar in the 80's and showed some balls to raise rates to nearly 20% to fight off inflation, but the global debt is so much more today.
Everything is about housing downunder, our economy and living standards are collapsing faster than nearly all other western countries. Time and again they protect the housing market and banks over the dollar and we now have capital cities with a medium house price of well over a million. Sydney is 1.6 million!!
Why does no nation want a strong sound dollar and little debt. common sense is all but gone.
The Great Reset.
You will have nothing and you will be happy.
They say.
Or as many are doing paying $8k to $10k per month for the next 30 years. To my eyes its financial suicide and no way to live and yet many are agreeing to these deals with the banks across the country for a bloody house that is 7x - 10x overpriced.
The idea of stepping aside in a bubble seems to be foreign.
Sadly it goes much deeper than that down under, but i agree many don't see the bubble for what it is.
Housing comes back to supply/demand and we have flooded the country with legal immigration, we have taken in millions of migrants over the last few years and continues each month which has saved the banks and created enormous price distortions for the market and much higher demand, plus ridiculous polices that favour housing investment with tax loopholes. The rental market is even worse with an incredible 80% of renters now in rental stress across Australia, they can't afford to buy and now can't afford the rent.
We are seeing a wave of locals move to Thailand, Vietnam and Indonesia where prices and life is cheaper, but they are just been swapped with mass India/China and Bangladesh migrants to take there place.
https://www.youtube.com/watch?v=auqZ3A6RM-0
In 08 we never had the crash like the US and Europe did, so we are looking at a 40 year bull run for housing in Australia, that is one reason why people don't step aside as the prices have never come down and people don't know a bear market or crash. Australia and Canada have the same problem.
What we have here and in Canada is far worse that what America had in 08, our bubble is much worse and the Government, central banks and banks are doing all they can to protect it, including destroying the currency and letting inflation run rampant rather than let housing prices crash.
So much greed, it makes you so angry what they have done to these two great countries. The young have been forsaken and have no hope for a better life. I visited Portugal earlier this year and i can still recall a conversation i had with a Canadian girl who served me at a restaurant and can still feel her anger and hatred for Trudeau and Canada and how she had to leave her country as there was no alternative, and this is now growing rapidly.
Klaus Schwab's WEF "Stakeholder Capitalism" to the letter.
The OMFIF ("Official Monetary and Financial institutions forum") has a new report out entitled "Gold and the new world disorder".
Recommended reading to be found on omfif.org.