Prices not going down??

[Wallaby]

Originally Posted by atlroofman

The dollar will devalue compaired to what currency ?
Whose currency will be worth more than the US dollar ?
This is a world wide problem.
The flight will be to the US dollar not from it.
The world's reserve currency will always be the landing zone for flight from nonreserve currency's.

I'm not trying to be a smart ass. To answer your question, the first currency to base on gold reserves will instantly be worth more than the US $. A few countries are well positioned to do this, and have been amassing gold in recent years. The two largest countries are not friends of the USA. I suspect to short circuit this, the US and EU will move to create a global digital currency. Lagarde has already talked about it. The word is it will come from a basket of other currencies. Gold is also a possibility, but it would stymie the welfare state

[slug]

Originally Posted by Wallaby

I'm not trying to be a smart ass. To answer your question, the first currency to base on gold reserves will instantly be worth more than the US $. A few countries are well positioned to do this, and have been amassing gold in recent years. The two largest countries are not friends of the USA. I suspect to short circuit this, the US and EU will move to create a global digital currency. Lagarde has already talked about it. The word is it will come from a basket of other currencies. Gold is also a possibility, but it would stymie the welfare state

I don’t believe in gold

When the world falls apart the folks holding gold will need to sell to pay off their debt

When everyone sells the price falls

The super rich aren’t buying gold they are buying resources like food supply, water supply

[Wallaby]

Originally Posted by slug

I don’t believe in gold

When the world falls apart the folks holding gold will need to sell to pay off their debt

When everyone sells the price falls

The super rich aren’t buying gold they are buying resources like food supply, water supply

Better than gold if the 'world falls apart' is top-grade farmland. Your super-rich have already bought this, all over the world. Some other real estate types are also on my buy list, however, most real estate falls in the 'over-valued' category. Buying 'water supply' is generally beyond most people's means.

Now, if/when the world falls apart, debt will no meaning. Massive inflation will eliminate it. What the world will still need is a medium of exchange and a store of value. Barter works great in small communities for a limited selection of goods/services. Gold and silver have served both purposes since 3000 BC. Gold was the standard until the early 70s when the US abandoned it to pay for Vietnam.



There are numerous reasons why gold/silver will become 'currency'. The same reasons are also why central banks keep large amounts of the stuff in vaults like Fort Knox. Here's a hint: pay attention to what the Bank of International Settlements says and does.

[Iaangus]

Originally Posted by robert sailor

Not sure how you square this since to my knowledge the so called Spanish flue actually saw its beginning in the USA.

Your fake news is not appreciated regardless if it's due to ignorance or political partisanship. It only takes a minute to educate yourself.

[extremeadven]

Originally Posted by geoleo

Dear Sailors, The $ dollar is supposed to be "KING" stocks have collasped, interest rates at all time lows, gold is down, the dollar is up UP on all currencies worldwide , the euro is headed for par with the dollar, the pound is way down too, oil is down 53% in 2 weeks. Yet marine stuff is same old high price. Defenders big sale is pathetic usually offering around 10-15% off a fake list price. Used sailboats are still way up there too and asking prices are the same. Why is this ? Is every seller hoping beyond hope OR is their business still doing great with old prices?

As a business owner my business has higher costs with payroll, cleaning, etc. The stock I am selling wasn't purchased at a discount. Manufacturers are seeing a reduction. If they want to stay in business now is not the time to cut prices.

[timb7734]

The sky is falling! The sky is falling!

Oopps, it’s not falling, the recovery will be strong and spectacularly inflationary. Assets already in possession like real estate, and even boats will inflate to be worth the same or more adjusted for that inflation. Stocks will attain their former glory as well, truth is there is no other way to keep up with the inflation with interest rates low.

Returning manufacturing to the US and even diversifying the supply chain will also feed higher costs with wages following.

[conchaway]

Here is the best advice you will ever get-- STOP LISTENING TO THE "MAINSTREAM MEDIA"!

[sailivate]

If I may steer back to topic or, racing boats refitted over winter, season cancelled and deals forthcoming?

[robert sailor]

Originally Posted by Iaangus

Your fake news is not appreciated regardless if it's due to ignorance or political partisanship. It only takes a minute to educate yourself.

Please do a little homework before you criticize too much

[picklesandjesse]

Originally Posted by robert sailor

Please do a little homework before you criticize too much

I agree. You are too kind !!!

[les22]

Originally Posted by Wotname

Curious - exactly which dollar are you referring to?
Last time I checked, there were more than 20 to choose from.

There's THE $ DOLLAR and other AU NZ HK CA XC etc. $ dollars. I'm sure you know deep down which one the original post refers to.

[Happ]

Originally Posted by capn_billl

The problem is the word "temporary", we are still paying the "Temporary income tax" designed to pay for WW1 war debts.

Once a "right" is gone, it is no longer a right. These freedoms are never coming back.

If you are talking about US Income Tax that started in 1913.

[Icarus]

Originally Posted by Wotname

Curious - exactly which dollar are you referring to?
Last time I checked, there were more than 20 to choose from.

I think our friend refers to the US$

[Hardhead]

Like others have said, most used boat prices will likely drop 6-18 months after the economy. IMO, the market hasn't seen the long-term, true, damage yet. I'd much rather be buying a boat than selling.

[Happ]

Originally Posted by rabbi

As long as we keep repairing the existing financial system yes.
Only if this crisis leads to a full reset (that is erase all 0s and 1s and burn all the little printed papers) things would be different.

But I guess smarter people than me will fix the existing system. Likely by printing more money and creating more debt, thus digging a deeper hole.

Not to get to political here but the 30% Tax Cut by Trump gave corporations money to grow and expand their companies. They didn’t. They bought back stock helping drive the market higher. No fundamental change in the companies. Instead we could have used that money to start reducing the debt. That was the whole idea about saving the economy. It would come back and grow generating more tax dollars to pay back the bailout.