Quote:
Originally Posted by Synchro909
I have always believed the truth in what my father used to say. There is nothing softer to fall back on than hard cash!
IMO, it will only take a war or serious economic crisis for this house of cards to come crashing down. That's when those who have a few $ in reserve will rise. When I was studying in the late 60s, our lecturer in economics 101 told how during the depression, he bought bank accounts for sometimes 5% of face value. Once the banks were back on their feet, he had made a very nice profit. During the GFC, many people from here bought real estate in the US. Rental returns are astronomical compared to what they would get here (about 3% pa) and the potential for capital gain was very high.
I guess what I'm saying is that opportunity awaits in adversity.
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There is no security, only opportunities
Terry