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India tried banning the importation of gold as well a while back but was only moderately successful ( Australia might have tighter borders , unless Indonesia let's the refugees flood through )
India tried banning the importation of gold as well a while back but was only moderately successful ( Australia might have tighter borders , unless Indonesia let's the refugees flood through )From the article:How the US government seized all citizens’ gold in 1930s
You’ve heard of compulsory purchase orders for houses, but few realise it has sometimes happened with the world’s favourite precious metal.theconversation.com
Many gold owners were understandably unhappy about the gold seizure, and some fought it in the courts. Ultimately, however, the government could not be stopped, and gold ownership remained illegal in the US until the 1970s.
This intervention was not unique, even in contemporary history. In 1959, Australia’s government put a law in place that allowed gold seizures from private citizens if “expedient to do so, for the protection of the currency or of the public credit of the Commonwealth [of Australia]”. And in 1966, to stop the decline in the pound, the UK government banned citizens from owning more than four gold or silver coins and blocked the private import of gold. This was only lifted in 1979.
So whether you get a surcharge on your savings, or have your gold in the Perth Mint confiscated is a similar scenario, if the manure hits the fan we are all in it together.
From memory it wasn't until the late 1970's that gold in Australia could be sold on the open market. before it was deregulated it could only be sold to the Government, it nearly sent Kalgoorlie broke.
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As I mention in the other threads, always better to be your own bank.ALL investing involves risk ( even doing nothing during an inflationary period )
buying bullion ( or other physical ) stashed somewhere close and secret has known risks if you keep the secret , if you survive the carnage , there is a fair chance your physical can be exchanged for something useful/essential ( silver for a bag of rice/wheat , gold for some milking cows or maybe even an operating business or home as examples )
buying at the bottom is a nice strategy if you can do it , the best i normally do is 'reasonably low ' often followed by a dead-cat bounce ( and a fall further )
who says Australia will stay a first world nation this time after we are talking war to China ( who threw us a lifeline in the GFC ) , sorry i can't assume that next crash , we have plenty of mineral resources but the government is offending a major customer ( China ) and neglected forming close ties with the world leader in waiting ( India )
the obvious way out of the next crash , is to use our resources and start manufacturing again ( but i bet we won't )
regarding citizens of a 'first world nation ' losing their savings look no further than the UK and US ( and you could probably add Japan ) , THAT is coming like a speeding train ( expect governments to limit pension fund draw-downs , assuming they survive the crash )
Greece and Cyprus changed the paradigm when an international debtor can take control of the local banking system
and NO i don't have the perfect strategy yet , i have resorted to multiple small strategies ( hoard some long-life food , hoard some hard commodities , a few collectibles , some shares , and hopefully look like too small a target for desperate banks and government
and yes i have SOME cash reserves but well under the 'deposit guarantee' ( per ADI invested with )
now i hope i am completely wrong , but i am certainly not taking sweet assurances from either government or banker ( both have lied to me before , and i expect they will do it again )
BTW check out what Australia did to it's citizens during WW2 ( 'cos ) Dutton is talking about a war with China so the Australian taxpayer will be excepted to suck up the pain and expense
cheers
i reckon we have 2 million of Asian descent ( i can't reliably pick the Chinese from the rest ) so you would have to detain them all ( even the fifth and sixth generation Australians ) and probably their spouses if not Asian to bootPOllies can say whatever they want, fact is we are a 26million strong nation vs China 1400million. War? Trade War? lol..
The media has spent the last 20 years telling the young that Australia is $hit, I guess they have finally got the message.i reckon we have 2 million of Asian descent ( i can't reliably pick the Chinese from the rest ) so you would have to detain them all ( even the fifth and sixth generation Australians ) and probably their spouses if not Asian to boot
so 2 million ( plus ) in interment camps that quite a few guards needed and think of the hit to business and the workforce , i reckon the pollies should be sent to re-education camps to learn MATHS , before they start with stuff like that
and a trade war would have a similar outcome Mongolia is just waiting for more exploration and development , no boats needed
well if labor wins this round, we could see better relations with China. They can always rope in Kevin to help outi reckon we have 2 million of Asian descent ( i can't reliably pick the Chinese from the rest ) so you would have to detain them all ( even the fifth and sixth generation Australians ) and probably their spouses if not Asian to boot
so 2 million ( plus ) in interment camps that quite a few guards needed and think of the hit to business and the workforce , i reckon the pollies should be sent to re-education camps to learn MATHS , before they start with stuff like that
and a trade war would have a similar outcome Mongolia is just waiting for more exploration and development , no boats needed
that was the Japanese assessment made before WW2 so the Japanese were hell bent to control India ( at least the part now known as Bangladesh ),well if labor wins this round, we could see better relations with China. They can always rope in Kevin to help out
Other than our minerals and worlds largest undug reserves of gold, no one would really be interested in ever invading downunder, its logistically too far and too troublesome, would make it too costly as well. We just have to mind our own business and be trade friendly and life will go on...
Australia has certainly wasted potential , whether it is the locally grown kids or the immigrants that have arrived here anytime after WW2The media has spent the last 20 years telling the young that Australia is $hit, I guess they have finally got the message.
Don't know much about paragraph 1,6 and the end. Other than that..I am on the same views.that was the Japanese assessment made before WW2 so the Japanese were hell bent to control India ( at least the part now known as Bangladesh ),
HOWEVER the US came here and created several military ( and supply) bases AND we sided with the Allies ( who had by then put sanctions on Japan ) so Australia was bumped up the priority list , but they REALLY needed India ( Bangladesh ) for the rice ( to feed themselves )
THIS time we have several US military facilities INCLUDING an important part of the missile guidance system , so China IF it mounts a major invasion force ( and i think they won't ) Australia would be one of several targets ( Guam , Okinawa , the Philippines would probably higher priority )
If China reclaims Taiwan , i think it would mount a defensive war basically exhausting the US of troops and resources on Chinese soil and THEN expand in the South China Sea region after US was drained of offensive capability
confounding factors ... would Vietnam stay neutral or help China ?? , i suspect North Korea would help China where it could , either by attacking US bases in South Korea , or just restarting the Korean War ( which is still only a truce , currently )
for a totally bizarre twist , maybe even the Taliban would help China where it could ( it has a nice little stock-pile of weapons , NOW )
am not sure Kevin 07 is all that popular with China now ( unless you compare him to Peter Dutton's relations with China )
Albo is Albo , and the Chinese might accept him in preference to other ALP snakes in the grass
but don't get too excited today's ALP are a bunch of corporate whores , half of them have never done a week's blue-collar work in their life they are university-trained Fabian Socialists ( as fake as the US Democrats )
Wars historically are all funded by those with the gold. At the moment USA lacks real gold to fund any big wars other than trade wars. They only have their fiat currency/ reserve currency, not much use in a real global war situation where countries will not sell you stuff without getting their payment in solid gold.that was the Japanese assessment made before WW2 so the Japanese were hell bent to control India ( at least the part now known as Bangladesh ),
HOWEVER the US came here and created several military ( and supply) bases AND we sided with the Allies ( who had by then put sanctions on Japan ) so Australia was bumped up the priority list , but they REALLY needed India ( Bangladesh ) for the rice ( to feed themselves )
THIS time we have several US military facilities INCLUDING an important part of the missile guidance system , so China IF it mounts a major invasion force ( and i think they won't ) Australia would be one of several targets ( Guam , Okinawa , the Philippines would probably higher priority )
If China reclaims Taiwan , i think it would mount a defensive war basically exhausting the US of troops and resources on Chinese soil and THEN expand in the South China Sea region after US was drained of offensive capability
confounding factors ... would Vietnam stay neutral or help China ?? , i suspect North Korea would help China where it could , either by attacking US bases in South Korea , or just restarting the Korean War ( which is still only a truce , currently )
for a totally bizarre twist , maybe even the Taliban would help China where it could ( it has a nice little stock-pile of weapons , NOW )
am not sure Kevin 07 is all that popular with China now ( unless you compare him to Peter Dutton's relations with China )
Albo is Albo , and the Chinese might accept him in preference to other ALP snakes in the grass
but don't get too excited today's ALP are a bunch of corporate whores , half of them have never done a week's blue-collar work in their life they are university-trained Fabian Socialists ( as fake as the US Democrats )
Definitively a reasonable prediction, i am a firm believer in the influence of the WEF Reset..and these guys would not let that scenario survive.Wars historically are all funded by those with the gold. At the moment USA lacks real gold to fund any big wars other than trade wars. They only have their fiat currency/ reserve currency, not much use in a real global war situation where countries will not sell you stuff without getting their payment in solid gold.
In fact internally its gotten so polarised, they may more likely have another civil war or riots type scenario, especially now with high inflation, common folks supporting democrats a lot are fed up with rising cost and are changing their support back to trump and friends. i seen some videos of americans complaining about Biden throwing billions at Ukraine when their own people are suffering from poverty etc...
China is pretty much surrounded at the moment at the eastern side , Japan taiwan phillipine south korea all have american military bases / forces , so they can only slowly take over small islands and build small bases like those in south china sea. And now they are busy with Covid and controlling their population post property price crash and post-tech boom crash, any invasion of Taiwan would not be high priority.
I believe we are likely to enter a period of stagflation, countries will be busy trying to beat inflation and dealing with recessions, and as the war goes on, countries become more closed up and protectionist due to a shortage of goods and supply chain disruptions. For example indonesia has banned palm oil exports recently.
there are ( or were ) several books in English ( translated from Japanese) about the Japanese government strategies leading up to , and during WW2 in earlier times i read widely often reading WW1 , WW2 and Boer War ( and others ) texts looking at strategies and motivationsDon't know much about paragraph 1,6 and the end. Other than that..I am on the same views.
however i do notice a trend of seizing assets without due process , ( regardless of size or influence ) i hope those with huge egos realize the precedent has been clearly set , and such activities are liable to become commonly and widely accepted ( and only one group plans to own everything , no matter what the legal structure looks like )Definitively a reasonable prediction, i am a firm believer in the influence of the WEF Reset..and these guys would not let that scenario survive.
I expect a push to war .
Just hope they will fail and normal economics and population rejects will collapse their agenda.
The response of people to the Ukrainian scenario is the key.
Currently, European populations are letting an economic suicide go unchallenged, but they had lost all cohesion and were already down the drain via decades of migration push
So big one is the US/Canada citizens responses.
Canada had the truck blockade .. crashed down..
Will the American spirit save them/us?
I am sceptical.
if Americans just comply, total war hot or economic is next with currency collapse, famine, asset seizure, market closure and Orwell world based on new gov crypto currency with total control on information, finance and freedom/absence of justified by the conflict. Vs Russia China...
I am not talking decades, but years at most.
Where does that leave the ASX?
Not in a decade long boom..
The government can regulate any asset class if it can get away with it.Here is a chart showing the jump in gold price in the 1970's, before deregulation from memory they could only sell it to the RBA for around $50 when on the open market it was around $250/oz.
If there is a massive crisis and gold becomes the only valuable asset, the Govt would just re regulate it IMO.
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The government can regulate any asset class if it can get away with it....
and the compliant masses let them get away with it.
mick
I'm pretty pessimistic currently, but we shall see what happens in this election.are they ??
sometimes the plebs , just shift quietly and slowly
Both Mrs and I have decided which Hill(s) we will die on... literally.the old media mind-trick , but i live in hope ( or horror if peace becomes impractical )
Probably not.so , will 7000 hold today ( for the XJO )
if the XJO closes below 7000 , it runs the risk of becoming the new resistance ( ceiling )
will need to stay below 7000 for a few days , but making a new record high look less likely in the near term
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