Monday, March 2, 2009

Soros sees no bottom for world financial “collapse”

Global Recession Deepens as No End to Financial Collapse

Renowned investor George Soros said on Friday the world financial system has effectively disintegrated, adding that there is yet no prospect of a near-term resolution to the crisis

Posted by sold 2 rent 1 @ 02:06 PM (1369 views)
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25 thoughts on “Soros sees no bottom for world financial “collapse”

  • sold 2 rent 1 says:

    “Soros said the turbulence is actually more severe than during the Great Depression, comparing the current situation to the demise of the Soviet Union.

    Remember Soros is at the heart of the NWO gang and will have access to info that is only available to a very elite few.

    According to Calleman’s model we can expect the collapse of Western Capitalism to happen in the summer/autumn 2010, which resonates with the period of 1985-1991 and demise of the Soviet Union.

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  • inflation is eating my savings says:

    What happens if you into a mirror and say “Calleman” five times?

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  • refusetobuy says:

    Not sure, but I bet it’ll happen again and again.

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  • refusetobuy says:

    with increasing frequency

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  • refusetobuy says:

    with increasing frequency

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  • refusetobuy says:

    sorry, that was browser reload failure rather than an attempt at humour.

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  • sold 2 rent 1 says:

    inflation is eating my savings,

    Do you still have all your savings is cash?
    Will you change your name to “inflation has destoyed my savings” when it happens?

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  • If savings are for a house, and house prices are coming down, then savings in cash are fine… as long as you are ready to convert to a house when the time comes

    There is a double aspect to this web site. The I would like a house/home side… and the wealth preservation side. Not necessarily always compatible?

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  • sold 2 rent 1 says:

    robh,

    “If savings are for a house, and house prices are coming down, then savings in cash are fine”

    NO. NO. NO.

    Western fiat currencies are going to get battered. You will end up spending your savings on food and energy if you are waiting for a bottom in the housing market. Oil is going to $300-400. People need to exchange fiat currencies for physical items, if that means buying a house now, then so be it.

    My plan is to ride the commodity bubble into spring 2010 and then exchange the commodities for a house.

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  • I think reports of the world’s financial disintegration are a trifle exaggerated. I bet most people would be blissfully unaware of anything going on if it wasn’t on the news all the time.

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  • [email protected]… how best then would you invest in oil? or silver? or what other commodities?

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  • etf’s??? are they as straight forward as shares, i.e. if the price of a barrel of oil doubles, will my investment double???

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  • i think anyone with large cash reserves should seriously consider purchasing SOME gold via bullionvault or goldmoney

    also have a look at some of the articles on here http://www.professorfekete.com/articles.asp

    pretty good read!!

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  • sold 2 rent 1 says:

    bluebeach,

    In addition to bullionvault or goldmoney there are also a few of gold/energy/commodity stocks unit trusts. See bestinvest.co.uk for the list

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  • graded, certified numismatic gold and silver coins will do better than gold bullion.

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  • letthemfall says:

    If the cataclysm is coming, which I think is unlikely, then whatever you own may be at risk – shares, cash, gold under the floorboards, whatever you like. Don’t panic!

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  • happy mondays says:

    If it got to this level of carnage, it would be every man for himself, and surely where ever you invest, will you get it back? As i would think there would not be much control on a global level..

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  • rocket robbie says:

    S2r1

    Can you recommend some silver stocks??

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  • @Bear

    “graded, certified numismatic gold and silver coins will do better than gold bullion.”

    Just curious.Why are you so sure? My understanding is that you pay a premium for collectors coins so the price will obviously have to rise more to yield any profit, taking into account the dealer’s cut. The art market seems to be tanking as the easy money dries up. Why will coin collecting be different?

    If you are knowledgeable about coins and ejnoy collecting then go for it! but I’m wary of getting involved, personally speaking.

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  • @S2R1

    I see your point, but it would depend on the rate of change. If you live well within your means and inflation was in the 10-20% range, then it would take a while before you couldn’t buy your shopping

    Riding bubbles is good for the skilled but I have seen some pretty whacky changes in the gold price 10-20% in a day never mind a year

    As Happy Mondays says, if it goes beyond a certain point, the system will collapse
    At 1000% inflation I wouldn’t be able to heat the house anyway after a few months

    I think you have to plan for a worst likely case, not a worst worst case

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  • @robh

    “plan for a worst likely case, not a worst worst case”

    That was a very sensible post, robh, but mightn’t it be argued that we are already in a “worst worst” case compared to popular perceptions three years ago?

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  • sold 2 rent 1 says:

    rocket robbie,

    I use http://www.zealllc.com and http://www.resourcestockguide.com to pick my stocks

    Zeal are selling a 29-page “Favorite 12 Silver Stocks” report for $99
    http://www.zealllc.com/purchase.htm

    resourcestockguide have some excellent info
    http://www.resourcestockguide.com/comparison_table_page.php?p=4|4|4|0|0|33|0

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  • @quiet

    You are quite right. Its hard to comprehend these numbers

    We have to try and make a plan I suppose. I have some savings and they are towards a small house or flat… in the event of suitable conditions such as a ‘managed decline’ I might go down that road

    If we have 1000% inflation and chaos, I would want to be with my family and friends somewhere bearable

    It’s two different worlds

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  • inflation is eating my savings says:

    robh
    I am concerned at the meaning of “managed decline”.
    s2r1- do not take what I say personally- I appreciate you wish to preserve your wealth. But the pushing of gold you do is worse than that Allsopp woman does with houses. I’m not sure you are doing it just for our benefit. Strong words are better softly spoken IMHO.
    I don’t agree with your inflation argument. If inflation was around the corner, we wouldn’t be seeing all these banks folding. It is a lack of money, not too much at the moment, whatever my name (chosen when IRs were 5.5%) may say. I cannot see commodities flying off into the distance in general. If demand has gone- who would buy it all? Again, if you would address these comments, rather than just pushing fear and gold, perhaps you might get more people on your wavelength.

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  • Well said, inflation is eating my savings.

    I also think quiet guy has a very valid point in relation to scenarios. If I wanted to prepare for the collapse of the financial system with an eye to wealth preservation I would not be putting much into gold. I think gold is a great hedge against rising fear, but not inflation itself (after all it is an asset and there is little correlation with inflation in the past). My money would be going into assets which I feel would be more liquid in the scenario and would have some tangible, items that would be needed by a community would be ideal – non-perishable, useful products like dried foodstuffs, tinned produce, heating oil and burners, etc…

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