60 Minutes

Yes, notice I never use the word "money", only "currency". National currencies are not money. As JP Morgan said before he died 100 years ago: "Gold and silver are money, everything else is credit".

 

Hope your right

as far as AUD goes I want it to fall against USD??

 

... I hope I'm wrong...

 

Yes agree, currency a much better term...hence how very wealthy tried to hedge their financial wealth via various entities and assets over the years...especially when catastrophic events occurred, they allocated some wealth via businesses, other purchases, land/estates, art, gold, collectibles etc..... It has to do with how easily credit or currency can be manipulated or deflated etc....
Actually I do hold some physical gold, as insurance, could sell at nice profit, wished now I purchased more, but no regrets who knew right?

 

You don’t need to be a rocket scientist to work out the link between Australians spending and the value of our homes. The government knows this better than anyone which is why there is zero chance you will see a 40% fall. The government would probably stop just shy of hiring people to bid at auctions to drive up prices if it came to this. OK a bit far fetched but there are really countless levers they can manipulate to ensure housing sustainability.

They will have already modeled an acceptable drop exactly like what was done for APRA. Anyone recall how easy they reversed that runaway train?

 

True. Every politicians know that if you lose property values, you lose your middle class voters.

 

There is no free lunch and the issue with changing the APRA rules meant there was no brake to prevent it going in the opposite direction. It resulted in an unsustainable 10%+ yoy growth in some States that only exacerbates the problems of today and beyond. Investors squealing it going down 5 or 6%...they've never had it so good.

 

Bugger, 60 Minutes said property would fall 40%.

Should I seek another source for my property/financial advice?

 

if this were true there would be no such thing as cycles

 

I don't know what will happen ,but I was at the auctions today bidding on a police seized 100 Oz bar of silver my cut off was 1800$ plus 18 percent buyers premium which is just below $2200.00 ,a person next to me paid over 4k but only found out about the buyer premium when they paid the account ..The Perth Mint sells 100oz bars for just below 3400 --3500 with a few weeks on a waiting list so as long as your a good listener and have that rare quality then the random gunslingers can do what ever they want..