/biz/ - Business & Finance

Remember this one, last year? Retarded faggot.

BEARS GET FUCKED
>BEARS GET FUCKED
BEARS GET FUCKED
>BEARS GET FUCKED
BEARS GET FUCKED
>BEARS GET FUCKED

cute thread.

The consensus on /biz/ is that the world economy is now heading into a second Great Depression. However, I'd like to open a discussion on the best way in which one can protect oneself, financially, from what is about to occur.

Some people (like Harry Dent) say that, when the crash comes, there will be deflation. This would include precious metals. They believe that gold will go down, not up, when the collapse comes, and that the best thing to do to protect oneself in preparation for it is to stay in dollars.

Others (like Peter Schiff) believe that there will be hyperinflation. They contend that the dollar is about to become mere worthless paper, and that the only way to protect your family in the coming crisis is to own gold and silver.

Everybody agrees that the stock market and real estate are about to go down by 60-90%. But where ought we to store our money then? In gold, or fiat?

A few additional questions:

i) If you are not an American, and have savings in another fiat currency (like the Euro or the Pound), will that currency be safe even if the dollar goes into hyperinflation?

ii) Are cryptocurrencies, like bitcoin, a store of value, or are they, fundamentally, completely worthless, as Peter Schiff says?

iii) Are websites like Goldmoney and BullionVault, with a 1:1 correspondence of digital ownership to stored bullion, a safe place to buy and store gold and silver, especially considering that coins now have 100% premiums?

The consensus on /biz/ is that the world economy is now heading into a second Great Depression. However, I'd like to open a discussion on the best way in which one can protect oneself, financially, from what is about to occur.

Some people (like Harry Dent) say that, when the crash comes, there will be deflation. This would include precious metals. They believe that gold will go up, not down, and that the best thing to do to protect oneself in preparation for the collapse is to stay in dollars.

Others (like Peter Schiff) believe that there will be hyperinflation. They contend that the dollar is about to become worthless paper, and that the only way to protect your family in the coming crisis is to buy gold and silver.

Everybody agrees that the stock market and real estate are about to go down by 60-90%. But where ought we to store our money then? In gold, or fiat?

A couple of additional questions:

i) If you are using another currency (like the Euro or the Pound), will that be safe even if the dollar goes into hyperinflation?

ii) Are cryptocurrencies, like bitcoin, a store of value, or are they, fundamentally, completely worthless, as Peter Schiff says?

iii) Are websites like Goldmoney and BullionVault a safe place to buy and store gold and silver, especially considering that coins now have 100% premiums?

>>18093873
Global economic collapse would kill a lot more than 5 million people in the ensuing starvation and conflict, especially with how unstable global politics already are. Remember it took a world war to end the last depression. Even if that doesn't happen, is 5 million boomers losing their literal lives (which would last for less than another decade anyway) worse than entire generations losing their economic lives and futures? As bad as the disease is, and it shouldn't be understated how bad it is, the current cure might still be worse.

>>17924308
>It's just a temporary panic
BULLFAG COPE
Suck the fed off harder maybe they'll give you another artificial pump faggot

>>17919099
>>This crash is ridiculous the market can't possibly go any lower this week than it already has.
Just you fucking wait faggot

OH NO NO NO NO

AAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAA

This is literally the Great Depression 2.0

Look at this map. The next few years is going to be hell. The market is actually crashing EVEN harder than it did in ‘29