Germany Facing Industrial Collapse

[Vor]

https://www.zerohedge.com/markets/g...g-gas-storage-it-warns-insolvency-within-days
So are we going to witness the collapse of the euro and european union in the coming times? If anyone is holding significant amounts of euros it may be time to start looking elsewhere lol.

 

[JohnnyDoe]

Oh what a surprise! A few more sanctions against Eu… I mean Russia would surely help

 

[RealDude]

These are not new developments. Uniper is being taken over by the German state.

 

[Vor]

Oh what a surprise! A few more sanctions against Eu… I mean Russia would surely help

It's actually comical to the extent that the EU is absolutely by the balls of the Russians. This is what happens when you become dependent for something as basic as energy from another country. I have under one more year living in the European Union and could not be more ready to leave. Hopefully EUR keeps falling against the dollar it makes my tax bill over here that i deferred much cheaper than if I had paid it on time lol. My business earns in dollars so for all I care the euro can become the venezuelan bolivar.

 

[void]

I don't think it's off-topic so I'm going to ask here instead of opening new thread...

what do you think is the rational strategy for an individual having more or less stable continuous income in EUR (like 5-6 figures monthly) and decent cash reserves in EUR?
I mean EUR is collapsing high speed and if one has no intention to invest any more on European continent how to handle this situation most efficiently?

 

[Vor]

I don't think it's off-topic so I'm going to ask here instead of opening new thread...

what do you think is the rational strategy for an individual having more or less stable continuous income in EUR (like 5-6 figures monthly) and decent cash reserves in EUR?
I mean EUR is collapsing high speed and if one has no intention to invest any more on European continent how to handle this situation most efficiently?

I'd probably get the EUR cash reserves out of EUR and into either USD or gold somewhere offshore. The income part I do not know what I would do since I fortunately earn in USD not EUR.. I'd imagine if eurozone really did go to s**t that your stable income in EUR may disappear though idk where your income is coming from.

 

[void]

I'd probably get the EUR cash reserves out of EUR and into either USD or gold somewhere offshore.

gold is dead, pretty impractical asset with zero benefits in modern world, will get sucked out by bitcoin inevitably

temporarily maybe..., can you elaborate what do you mean by "taking gold offshore"?

The income part I do not know what I would do since I fortunately earn in USD not EUR.. I'd imagine if eurozone really did go to s**t that your stable income in EUR may disappear though idk where your income is coming from.

this kind of income paradoxically tends to grow during the social crisis and I can pretty much count with stable and predictable cash flow in EUR which makes it even more peculiar

 

[Vor]

gold is dead, pretty impractical asset with zero benefits in modern world, will get sucked out by bitcoin inevitably

temporarily maybe..., can you elaborate what do you mean by "taking gold offshore"?


this kind of income paradoxically tends to grow during the social crisis and I can pretty much count with stable and predictable cash flow in EUR which makes it even more peculiar

by offshore I mean storing it in say Switzerland, Singapore, Cayman Islands, etc. Their are many companies who you can buy/sell, store, or both your gold in those three countries. Gold isn't going away and crypto is still too speculative to be parking something meant to be stable in. Their is stablecoins but who knows how well those are backed.

 

[Golden Fleece]

I don't think it's off-topic so I'm going to ask here instead of opening new thread...

what do you think is the rational strategy for an individual having more or less stable continuous income in EUR (like 5-6 figures monthly) and decent cash reserves in EUR?
I mean EUR is collapsing high speed and if one has no intention to invest any more on European continent how to handle this situation most efficiently?

Research the Dollar Milkshake Theory. It is happening right now, which explains why the USD is so strong. In such a world, you want USD. When the USD strengthens, gold also weakens (which you also see right now).

When the USD eventually weakens, then you want to buy gold. It will present a great buying opportunity for gold and a hedge for the future. Productive income-producing land is also a good option.

 

[void]

Research the Dollar Milkshake Theory. It is happening right now, which explains why the USD is so strong. In such a world, you want USD. When the USD strengthens, gold also weakens (which you also see right now).

when I was saying EUR is collapsing I obviously meant relatively to USD - the video presents pretty basic stuff and we see it already
how fast this trend will be and whether there will be a better opportunity to buy USD is a quesion
maybe when European Central Bank will rise the interest rates eventually EUR will temporarily improve

I'd like to listen to your opinions whether you think it's worth waiting or if it's most efficient to immediatelly convert to USD (considering my trust in banks is pretty low) and convert all earned EUR immediately to USD, buy current discounted stocks or whatever else...
it's worth noting that I have significant BTC position and continuously buying - here I'm talking about the money I don't want to put into BTC

When the USD eventually weakens, then you want to buy gold. It will present a great buying opportunity for gold and a hedge for the future.

we won't agree on this but doesn't matter, I understand your thinking in principle

Productive income-producing land is also a good option.

yes, but the investment itself is a time consuming business...

 

[Martin Everson]

gold is dead, pretty impractical asset with zero benefits in modern world, will get sucked out by bitcoin inevitably

You really believe this?

 

[marioIT]

It's actually comical to the extent that the EU is absolutely by the balls of the Russians.
This is what happens when you become dependent for something as basic as energy from another country. I have under one more year living in the European Union and could not be more ready to leave.

EU and USA went quietly through the "weak men" stage, now they'll go to the hard times...
rinse and repeat, everything is cyclical on this planet.
many other countries will enjoy the good times.
I just hope you're able to move as things will only get worse for a while

 

[void]

You really believe this?

I'm avoiding usage of "believe" as much as possible but let's say I assign it a very high probability. And since opinions and statements have no value I also back this estimation by my actions and risk taken.

The only temporary "advantage" of gold is historical inertia, established social position and existing regulatory framework. BTC beats everything else.

 

[369]

gold is holding pretty well.
Just don't compare gold with usd but eur or other local currencies.

EU is history its done deal for a long time same as germany gets non important.....
Morgenthau plan says hello

I'm avoiding usage of "believe" as much as possible but let's say I assign it a very high probability. And since opinions and statements have no value I also back this estimation by my actions and risk taken.

The only temporary "advantage" of gold is historical inertia, established social position and existing regulatory framework. BTC beats everything else.

i make a bet with you anytime that todays gold outbeats todays bitcoin

EU and USA went quietly through the "weak men" stage, now they'll go to the hard times...
rinse and repeat, everything is cyclical on this planet.
many other countries will enjoy the good times.
I just hope you're able to move as things will only get worse for a while

this cycle is diffrent

Oh what a surprise! A few more sanctions against Eu… I mean Russia would surely help

best of all majority still belive russia is the target ROFL

 

[Jerry1911]

best of all majority still belive russia is the target ROFL

Who would you say is the target? I'd say it's the middle class of the west.

 

[void]

gold is holding pretty well.
Just don't compare gold with usd but eur or other local currencies.

I'm comparing gold with BTC
fiat currencies don't have any future but mid-term USD is the winner and will be the "last fiat standing"

poor (non USD) countries will be suffering and losing their currencies - some of them will dollarize (there are examples even nowadays) and the smarter ones will hop into BTC and benefit from the early adoption efect, it's an opportunity incomparable with anything else in history
just saying... I have no problem with disagreement

i make a bet with you anytime that todays gold outbeats todays bitcoin

in what metric? what odds? what time horizon?
measuring the value of assets in USD will be less and less relevant
there is no doubt that market cap of BTC will grow much faster than gold and it will lose it's significance in comparison to BTC

 

[Jerry1911]

gold is dead, pretty impractical asset with zero benefits in modern world, will get sucked out by bitcoin inevitably

I think you are very very wrong, crypto including bitcoin is a speculative asset, VERY volatile and usually when the stock market goes down 2% crypto goes down 10x more.

Gold is used in everyday electronic devices, it's also held by central banks (for a reason?) and you can buy/sell it in pretty much any country in the world.

Personally I hold gold not as an investment but as an insurance against total system collapse.

When it comes to crypto I only hold and trade Monero.

 

[void]

I think you are very very wrong, crypto including bitcoin is a speculative asset, VERY volatile and usually when the stock market goes down 2% crypto goes down 10x more.

Gold is used in everyday electronic devices, it's also held by central banks (for a reason?) and you can buy/sell it in pretty much any country in the world.

Personally I hold gold not as an investment but as an insurance against total system collapse.

When it comes to crypto I only hold and trade Monero.

good, you have a strong opinion and strategy, I have mine, we don't live on each other's account, I don't care about your future, you don't care about mine, time will show who is right, good luck

 

[369]

I'm comparing gold with BTC
fiat currencies don't have any future but mid-term USD is the winner and will be the "last fiat standing"

poor (non USD) countries will be suffering and losing their currencies - some of them will dollarize (there are examples even nowadays) and the smarter ones will hop into BTC and benefit from the early adoption efect, it's an opportunity incomparable with anything else in history
just saying... I have no problem with disagreement

in what metric? what odds? what time horizon?
measuring the value of assets in USD will be less and less relevant
there is no doubt that market cap of BTC will grow much faster than gold and it will lose it's significance in comparison to BTC

you are perfectly setup to lose a lot of money

timeframe 5 years.
todays Gold will outperform bitcoin a lot
USD last men standing lol
I guess thats why they are installing CNY as a world reserve currency create their own swift etc so USD can keep dominating.
50% loss of USD value is being guaranteed over next years.

USD will stay same as any other currency execpt EURO
The only diffrence they all will be bound to SDR's from IMF

I think you are very very wrong, crypto including bitcoin is a speculative asset, VERY volatile and usually when the stock market goes down 2% crypto goes down 10x more.

Gold is used in everyday electronic devices, it's also held by central banks (for a reason?) and you can buy/sell it in pretty much any country in the world.

Personally I hold gold not as an investment but as an insurance against total system collapse.

When it comes to crypto I only hold and trade Monero.

there will be no total collapse.Isn't it already obvious we are in a controlled transformation

 

[Martin Everson]

in what metric? what odds? what time horizon?
measuring the value of assets in USD will be less and less relevant
there is no doubt that market cap of BTC will grow much faster than gold and it will lose it's significance in comparison to BTC

Can we split this off into a new thread. This thread is totally trashed with off topic posts now. I would be happy to see a bet take place over this i.e BTC vs Gold performance over a defined time period and with a metric we can measure for success.