F Dominicus Blog

A politically incorrect blog about matters of money, government, bureaucracy, freedom and sometimes something else.

If lies do not cut it any more

Maybe we see the end nearing. The debts worldwide were soaring the last 3 years and still there is not relief.

It can not come as a surprise to the austrians, liberals or libertarians. What we have seen was and just is "credit expansion". The central banks manipulate everything and so we do not have any idea any more about "prices" for money. Just remember what I wrote some time ago:https://mises.org/Community/blogs/fdominicus/archive/2011/09/08/who-could-be-suprised.aspx

Feel free so just search a little through older entries and I also suggest having a look at: https://mises.org/Community/blogs/tincho/

I also wrote about what one "should" try. There is one problem which will bite you whenever you are just having money in one country. This money is prone to expropriation. Especially worse is it for countries nearing the default or being in default. Greece should be a warning for every one. There are now at least 3 levels of creditors. IWF and ECB as "primary" creditors, ECS has not suffered any losses (all the papers bought were change to papers with the same nominal value), then come banks (they were partly bailed out, either through ECB, FED or other central banks and they could probably keep there looses below 50 or so per cent. Then comes the private creditor. They had to suffer losses beyond 80 %. That' s what will happen world-wide. If you think this well be a Greek specialty, think again and doubt it. If you believe the Fed, ECB or whatever political power will not do the same, you can start burning your money immediately.

There will be always problems if you are just "invested" in one country. The laws change and nobody will grant you anything. You own government does not shy away from robbery. So if you have all your property in your country they will get you. So be suspicious and send your money overseas into different areas. It's unlikely that you will loose everything at once following that route. But be cautious, one larger country getting into default will have implications on other areas also.....