Financial Armageddon!!

[Jeffa]

Sam Bankrupt Fried (Ass) has been finally arrested and given no bail. the fairy tale is over for the scammer who lost a lot of peoples money. He has been remanded to Bahama prison. (One of the 5 worst in the world)

He will possibly get life in prison.

Crypto is being withdrawn from world exchanges at a rapid rate, this ponzi scheme is collapsing, we are talking Trillions of dollars.

Expect a lot more Crypto casualties moving forward.

The snowball continues to roll down the mountain getting bigger....

Or perhaps its an opportunity for governments to have further control, it was cryptocurrencies that kept the Canadian trucking protestors able to feed there families when Trudeau cut access to there bank accounts

That crook Backman Fried is going to be an excuse for more regulation and control over the slaves.

https://youtube.com/shorts/d3uFq1k5ub8?feature=share

[Chris W]

The deficit between what we get from our exports and what we spend on imports has, on an annual basis, grown to its highest ever level.

Statistics New Zealand reported that our annual current account deficit to September was 7.9% of GDP, which beat the previous high of 7.8% recorded during the Global Financial Crisis in December 2008.

In dollar terms, the deficit between import spending and export receipts was some $29.7 billion, up by $13.3 billion from the year-ago figure.

In dollar terms the deficit is way higher than seen previously. For example that previous high of deficit to GDP from 2008 related to a dollar deficit of just $14.7 billion.

New Zealand’s Top 10 Imports


The following product groups represent the highest dollar value in New Zealand’s import purchases during 2021. Also shown is the percentage share each product category represents in terms of overall imports into New Zealand.

1. Vehicles: US$7.2 billion (14.5% of total imports)
2. Machinery including computers: $6.9 billion (14%)
3. Electrical machinery, equipment: $4.4 billion (8.8%)
4. Mineral fuels including oil: $3.9 billion (7.9%)
5. Plastics, plastic articles: $2 billion (4.1%)
6. Optical, technical, medical apparatus: $1.6 billion (3.3%)
7. Pharmaceuticals: $1.4 billion (2.9%)
8. Articles of iron or steel: $1.2 billion (2.4%)
9. Furniture, bedding, lighting, signs, prefabricated buildings: $1.1 billion (2.3%)
10. Food industry waste, animal fodder: $975.2 million (2%)

[Engineer]

Grant Robusum and Mahuta the looter have their fingerprints all over this.


The deficit between what we get from our exports and what we spend on imports has, on an annual basis, grown to its highest ever level.

Statistics New Zealand reported that our annual current account deficit to September was 7.9% of GDP, which beat the previous high of 7.8% recorded during the Global Financial Crisis in December 2008.

In dollar terms, the deficit between import spending and export receipts was some $29.7 billion, up by $13.3 billion from the year-ago figure.

In dollar terms the deficit is way higher than seen previously. For example that previous high of deficit to GDP from 2008 related to a dollar deficit of just $14.7 billion.

[chook]

Sam Bankrupt Fried (Ass) has been finally arrested and given no bail. the fairy tale is over for the scammer who lost a lot of peoples money. He has been remanded to Bahama prison. (One of the 5 worst in the world)

He will possibly get life in prison.

Crypto is being withdrawn from world exchanges at a rapid rate, this ponzi scheme is collapsing, we are talking Trillions of dollars.

Expect a lot more Crypto casualties moving forward.

The snowball continues to roll down the mountain getting bigger....

[chook]

Do you understand this,...Few do..

[Engineer]

The credit crunch has been crap for my values but great for my cashflow, who cares!

A good disaster certainly helps focus the mind.
Spent most of the day running cashflow models out to 2025.
All good, but much prefer the spend as much as you want whenever you want version of life.

[Jeffa]

Withdrawals from FTX have been frozen.. expect from the Bahamas.

Unlikely Fed will bail out a crypto exchange platform.

[Jeffa]

If your feeling bad because your home values are down a hundred thousand or so, spare a thought for FTC crypto exchange CEO Sam Bankman Fried , Bloomberg reporting his networth dropped 94% or 14.6 billion, I would say he would be in negative equity after debt and expenses would need to be paid.

https://www-coindesk-com.cdn.ampproj...ht-wipe-out%2F

Before everyone starts using their wonderful "hindsight" skills and knocking this guy,

I prefer to think about it another way.

Will we learn?

No.

Will the next crypto craze,NFT or similar come and go later this decade?

Yes.

Withdrawals from FTX have been frozen.. expect from the Bahamas.

[Chris W]

I prefer to think about it another way.

Will we learn?

No.

Will the next crypto craze,NFT or similar come and go later this decade?

Yes.

Each new generation of investors will learn the same lessons learned as the previous generations of new investors. Most will repeat the same mistakes and learn the hard way.

[Chris W]

Stocks, Bonds and Crypto can disappear POOF in front of your eyes, I learnt this first hand in 1987.

If real estate drops in value, it will never go POOF and disappear.

This is the reason that many people who lost money in the 1987 crash were permanently scarred psychologically and many stayed away from buying financial assets, particularly stocks. This has resulted in many of that generation buying real estate assets.

Heard a story of a guy who lost everything in the 1987 stock market crash who ended up harming himself.

"real estate is liquid, you can drive down the street and touch your house"

Correction of above:

Real estate is tangible - you can drive down the street and touch your house

In financial markets jargon, market liquidity refers to the ease at which people can buy or sell. It is much easier to buy or sell $1,000,000 worth of shares in the S&P500 ETF (it can be done in seconds) than it is to buy or sell $1,000,000 worth of real estate.

[chook]

A valid point we must not lose sight of. I remember values dropping several decades ago. Rent came in as usual, Rates bill went down, no debt/equity ratio problems. No problem.

But the cat came back . . .

Yes, real estate is liquid, you can drive down the street and touch your house. Stocks , Bonds and Crypto can disappear POOF in front of your eyes, I learnt this first hand in 1987.

If real estate drops in value, it will never go POOF and disappear.

[Perry]

The credit crunch has been crap for my values but great for my cashflow, who cares!

A valid point we must not lose sight of. I remember values dropping several decades ago. Rent came in as usual, Rates bill went down, no debt/equity ratio problems. No problem.

But the cat came back . . .

[Jeffa]

If your feeling bad because your home values are down a hundred thousand or so, spare a thought for FTC crypto exchange CEO Sam Bankman Fried , Bloomberg reporting his networth dropped 94% or 14.6 billion, I would say he would be in negative equity after debt and expenses would need to be paid.

https://www-coindesk-com.cdn.ampproj...ht-wipe-out%2F

Before everyone starts using their wonderful "hindsight" skills and knocking this guy,

I prefer to think about it another way.

Will we learn?

No.

Will the next crypto craze,NFT or similar come and go later this decade?

Yes.

Bankman Fried...lol .

[Frezzinghot]

The credit crunch has been crap for my values but great for my cashflow, who cares!

[chook]

If your feeling bad because your home values are down a hundred thousand or so, spare a thought for FTC crypto exchange CEO Sam Bankman Fried , Bloomberg reporting his networth dropped 94% or 14.6 billion, I would say he would be in negative equity after debt and expenses would need to be paid.

https://www-coindesk-com.cdn.ampproj...ht-wipe-out%2F

Before everyone starts using their wonderful "hindsight" skills and knocking this guy,

I prefer to think about it another way.

Will we learn?

No.

Will the next crypto craze,NFT or similar come and go later this decade?

Yes.

The snowball is gathering speed down the financial mountain.....get out of the F#@*ken way if you can or you get slammed!

Latest on FTX CEO Sam Bankman is now Bankrupt owing creditors 650 Million. WTF??