Huff Post: Second Financial Crisis Looming

[hollowframe]

Yes, unfortunately I don't think there is any way around it.  Tons of economists have been calling a worldwide crash in the near future, its been happening already, although in slow motion.  One country then another.  And when the banks start confiscating (stealing) money out of US bank accounts or declare a "bank holiday", it will probably be too late to get your money out.

Well, then it's a good thing I don't keep almost anything in there.

My wife and I have agreed to move our savings into bit coin as well. We pay bills with fiat, take out our weekly spending money, and the rest goes into bit coin. To some that might seem crazy but to us it is kind of crazy not to do it. 

That sounds like you are putting all of your eggs in one basket. During the last financial crisis all asset prices moved together and fell throughout the crisis with the exception of the US dollar and US treasury bonds.

I agree, the issue I am having is which baskets to trust. Right now I am doing 50% bitcoin and 50% precious metals. I don't trust stocks or any other traditional assets. Other than a retirement account I have very little invested in dollar related vehicles. 

Stocks have historically been a very good investment to put your money in over the long term as they generally will outpace inflation by several percentage points per year. Precious metals on the other hand generally will only keep up with inflation.

[OROBTC]

...

It is essentially impossible to predict when the next financial crisis will occur, but there seems to be little doubt that IT WILL HAPPEN.  The Banksters are a big problem, perhaps the single biggest, but there are many ways things can go wrong...

David Stockman is right:

NONE of the imbalances or our financial problems have been solved.

NO ONE (of significance) has gone to jail.  (Corzine, where IS he...?)

***

In addition to the timing of the collapse (or maybe more than one, always stay alert), there is the additional issue of WHAT kinds of things could happen.  No one really knows this either.  The dollar could crash.  The government could seize part or all of our bank account savings.  A big war, or an EMP.  No one knows.

I have long been a great believer in diversification.  I have diversified into BTC since I learned enough about it to give me some confidence (although less than 1% of my net assets are in BTC).  Gold, stocks & bonds, real estate, CA$H/FIAT$ in the "Bank of Sealy", overseas assets, survival products (guns & ammo, food & water, medicines, etc.) all might have a place depending on each person's comfort zone.

Physical, mental and spiritual fitness are likely critical too.  Preparation can be a big job.  Best to get started ASAP.

[hodap]

...

It is essentially impossible to predict when the next financial crisis will occur, but there seems to be little doubt that IT WILL HAPPEN.  The Banksters are a big problem, perhaps the single biggest, but there are many ways things can go wrong...

David Stockman is right:

NONE of the imbalances or our financial problems have been solved.

NO ONE (of significance) has gone to jail.  (Corzine, where IS he...?)

***

In addition to the timing of the collapse (or maybe more than one, always stay alert), there is the additional issue of WHAT kinds of things could happen.  No one really knows this either.  The dollar could crash.  The government could seize part or all of our bank account savings.  A big war, or an EMP.  No one knows.

I have long been a great believer in diversification.  I have diversified into BTC since I learned enough about it to give me some confidence (although less than 1% of my net assets are in BTC).  Gold, stocks & bonds, real estate, CA$H/FIAT$ in the "Bank of Sealy", overseas assets, survival products (guns & ammo, food & water, medicines, etc.) all might have a place depending on each person's comfort zone.

Physical, mental and spiritual fitness are likely critical too.  Preparation can be a big job.  Best to get started ASAP.

Don't forget many high level bank officers commit suicide this year. If everything is still rosy, none of this will happen.

[wobber]

Seems that DJIA had on 17/7 the biggest crash in single day this month. I think it will enter into a multi-day bearish mode, target of 15,500/

[Dalmar]

This doom and gloom crap has been said since 2009. There's nothing to be worried about so long the S&P 500 is above its long term moving averages. Buy the dip and enjoy the fed ponzi scheme while you still can.

Do you realize what happens at the end of a Ponzi Scheme, every single time?

There will be epic shorting opportunities like Lehman. I would welcome that kind of volatility.

But it's highly unlikely that kind of 2008 craziness will happen this year.

[aminorex]

Stocks have historically been a very good investment to put your money in over the long term as they generally will outpace inflation by several percentage points per year. Precious metals on the other hand generally will only keep up with inflation.

The expected return on US equities over the next 10 years is negative.

[wenben]

Stocks have historically been a very good investment to put your money in over the long term as they generally will outpace inflation by several percentage points per year. Precious metals on the other hand generally will only keep up with inflation.

The expected return on US equities over the next 10 years is negative.

Investors who bought high risk tech companies with little to no earning comparing to the market cap still doing very well.

[money420weed]

Stocks have historically been a very good investment to put your money in over the long term as they generally will outpace inflation by several percentage points per year. Precious metals on the other hand generally will only keep up with inflation.

The expected return on US equities over the next 10 years is negative.

Investors who bought high risk tech companies with little to no earning comparing to the market cap still doing very well.

Many of these tech companies failed and investors lost everything in those companies.

[Marbit]

Indeed, all signs seem to be pointing that way. But honestly, never underestimate this machine's ability to keep churning along, unsustainably, longer than you think. Then BOOM.

[GangkisKhan]

Stocks have historically been a very good investment to put your money in over the long term as they generally will outpace inflation by several percentage points per year. Precious metals on the other hand generally will only keep up with inflation.

The expected return on US equities over the next 10 years is negative.

Investors who bought high risk tech companies with little to no earning comparing to the market cap still doing very well.

Many of these tech companies failed and investors lost everything in those companies.

Some did well cashing out before peaking.

[Dalmar]

Some did well cashing out before peaking.

Look at the volumes, most were panic dumping at the lows of the tech sell off.

[hdbuck]

Soros shotred his JPMorgan, Bank of America & Citi group shares not so long ago.. if that isnt letting the cat out of the bag(holders)...

http://blogs.wsj.com/moneybeat/2014/05/15/soros-sells-out-of-j-p-morgan-bank-of-america-citigroup/

[wenben]

Soros shotred his JPMorgan, Bank of America & Citi group shares not so long ago.. if that isnt letting the cat out of the bag(holders)...

http://blogs.wsj.com/moneybeat/2014/05/15/soros-sells-out-of-j-p-morgan-bank-of-america-citigroup/

What is Soro buying these day?

[Searing]

Soros shotred his JPMorgan, Bank of America & Citi group shares not so long ago.. if that isnt letting the cat out of the bag(holders)...

http://blogs.wsj.com/moneybeat/2014/05/15/soros-sells-out-of-j-p-morgan-bank-of-america-citigroup/

What is Soro buying these day?

wish someone would tell soros about bitcoin we could use the 'bump' in price

Searing

[Cicero2.0]

Some did well cashing out before peaking.

Look at the volumes, most were panic dumping at the lows of the tech sell off.

That used to happen to bitcoin when China sneezed. Panic sellers are among the dumbest people in any market.

[Leina]

Soros shotred his JPMorgan, Bank of America & Citi group shares not so long ago.. if that isnt letting the cat out of the bag(holders)...

http://blogs.wsj.com/moneybeat/2014/05/15/soros-sells-out-of-j-p-morgan-bank-of-america-citigroup/

What is Soro buying these day?

wish someone would tell soros about bitcoin we could use the 'bump' in price

Searing

Warren Buffet has publicly stated he will be surprise to see bitcoin around in 10 years. Soro probably share similar view as both of them are part of the old money crowd.

[giveBTCpls]

I wonder what the implications of another world crash would be for Bitcoin. Will this put Bitcoin in the big mainstream light for once? Will the price sky rocket as people in fear put their savings there before their local banks froze their accounts? Will the price crash in fear the price will go down as fiat goes down as well?

[bl4kjaguar]

They can keep delaying it until the creditor nations stop buying bond.

You mean creditor nations like... Belgium?

Fed Laundering Treasury Purchases to Disguise What’s Happening