Say the Financial World will crash, where to put your assets?

[JohnLocke]

My answer is that I don't know. The fact is that EU is already imposing KYC checks on gold purchases

That is also what I have noted, Germany is even going in front of all the restrictions to buy Gold and other precious metal, so it won't take long before the next countries will move in the same direction.

What will come can no one predict, but that something will come and that it will hurt the EU (not to be confused with Europe) is sure.

 

[Martin Everson]

Which country would you move to? Albania? Bosnia? Or maybe somewhere in Africa?

I already have residency in Georgia when I am not in Caribbean.

@neweraoffshore I agree with a lot of what you said. For example I see a lot of uber drivers supporting uber and defending its service as that is there main means of income. Sadly uber has from day one been working to do away with the need for drivers as they are a needless expense. They have been working on self driving cars for a while. A lot of retail, driving and financial services jobs will be gone. I too don't see where the jobs of the future will come from for humans. Eventually humans involved in the means of production will become a thing of the past as robots and AI reach new levels. Someone needs to explain what jobs people will do in the future that robots cannot do....maybe male and female sex workers? or laborers and seed planters on Mars? .

 

[Gediminas]

Someone needs to explain what jobs people will do in the future that robots cannot do....maybe male and female sex workers? or laborers on Mars? .

All humanitarian studies will become more and more valuable. Some wise people already recommend people to start studying more about arts, music, acting, etc.

 

[Martin Everson]

Some wise people already recommend people to start studying more about arts, music, acting, etc.

What you mean? People start street performing and busking for bitcoin 3.0 in future?

Can't imagine billions of people in future will enter arts. It will all be AI and some form of augmented related with SIRI 20.1 or something. Right now people are producing the means to make human labour irrelevant as much as possible. The future will look like Terminator 2 and Skynet .

Serious discussion needs to take place on where the jobs of the future will come from. Already people are talking universal income as they know exactly the future and the end game. Jobs will not exist in the future on earth in any huge numbers to cater for earths population. In the distant future the concept of a job may not even exist. Just think what you would be able to do in the future that robots and AI will not be able to do?

 

[Gediminas]

What you mean? People start street performing and busking for bitcoin 3.0 in future?

This article is one of the examples -

<..>
Cuban's forecast of the skills needed to succeed in the future echoes that of computer science and higher education experts who believe people with "soft skills," like adaptability and communication, will have the advantage in an automated workforce.

Cuban highlighted English, philosophy, and foreign language majors as just some of the majors that will do well in the future job market.
<..>

https://www.businessinsider.com/mark-cuban-liberal-arts-is-the-future-2017-2?IR=T

 

[Martin Everson]

Cuban highlighted English, philosophy, and foreign language majors as just some of the majors that will do well in the future job market.

He didn't talk any specifics and the devil is in the detail. What exact jobs will these people be entering with those skills that AI will not replace. How is language going to be important in the future when Skype improve and release further real time translate software in the future . I work with absolutes not ideas unfortunately.

https://www.skype.com/en/features/skype-translator/

 

[Gediminas]

He didn't talk any specifics and the devil is in the detail. What exact jobs will these people be entering with those skills that AI will not replace. How is language going to be important in the future when Skype improve and release further real time translate software in the future . I work with absolutes not ideas unfortunately.

https://www.skype.com/en/features/skype-translator/

Probably no one can tell as a fact yet what kind of jobs will these people be entering. We (including you) are only speculating there. But the frames, in my eyes, are more or less imaginable already.

 

[Martin Everson]

Probably no one can tell as a fact yet what kind of jobs will these people be entering. We (including you) are only speculating there. But the frames, in my eyes, are more or less imaginable already.

Speculating on future is for the cult members that buy i.e Tesla stock based on an imaginary future. What I am looking for is absolutes. Maybe that's because I am a pure bond investor and not a speculator and I deal with absolutes. If I did not care about absolutes or the future I would be a stock or crypto speculator...lol. However I see your point that some new jobs markets for billions of people in future might be created out of thin air hence the people talking about universal basic income to offset job loses are crazy uninformed speculators right...lol?

But back to the subject thread of where to put your assets in a financial crisis please

 

[avalanche]

Guys what is more likely to collapse: EUR, USD or SGD? lol

 

[Nicholas Van Orton]

A systemic collapse i.e where the entire norms of the global financial system stops functioning and money itself becomes worthless is very unlikely. An economic crisis though is inevitable which could be triggered by anything from a collapse in the pound following a no-brexit deal till a bubble bursting in the real estate market in Canada or Australia and a knock on effect of the sovereign debt of those countries used as collateral by other countries and banks and the chain continues. The problem with financial crisis's is that even if you see it coming no one can precisely predict or model the exact impact globally. This makes it very hard to know where and in what to put your assets. Hence I would simply get out of the way and move from developed places.

And that, my dear friends, is why we love (lol) @Martin Everson , aka MBS. Condensing in a few lines the wisdom for life. Jokes aside, thanks Martin, appreciated. I concur with these words 2000%.

 

[Nicholas Van Orton]

I already have residency in Georgia when I am not in Caribbean.

@Martin Everson - how did you get it? Is it possible at a personal level without being present in the country or do you require setting up a company? What would you suggest as the 'quickest' (and yet most effective) route for residency there? Thanks in advance.

 

[avalanche]

@Martin Everson - how did you get it? Is it possible at a personal level without being present in the country or do you require setting up a company? What would you suggest as the 'quickest' (and yet most effective) route for residency there? Thanks in advance.

Quickest and most effective is ~$105,000 in real estate in Georgia. It does not make any sense to me to lock up $100K of capital in a real estate that gets older over time in a market that I dont understand.

My option is slower. Trying to arrange this through opening a company. Id need $18k annual income in a Georgian LLC to be able to apply for the residency. (your company has to be VAT registered though)

 

[Nicholas Van Orton]

@avalanche thanks for the reply. I understand from your post that a corporate route is better than a personal one for residency there?

 

[avalanche]

@avalanche thanks for the reply. I understand from your post that a corporate route is better than a personal one for residency there?

Depends on your plan and resources. If you can afford to throw out $100k into real estate (cant buy commercial property, only living residencies) and then would like to manage all these Airbnb's, then real estate is an option for you. Personally I feel like its an overvalued and overpriced residency option in a country that is barely developed. For this money you can literally add another $100k and get a second passport somewhere. Hence I'm going for the business route.

 

[Nicholas Van Orton]

Depends on your plan and resources. If you can afford to throw out $100k into real estate (cant buy commercial property, only living residencies) and then would like to manage all these Airbnb's, then real estate is an option for you. Personally I feel like its an overvalued and overpriced residency option in a country that is barely developed. For this money you can literally add another $100k and get a second passport somewhere. Hence I'm going for the business route.

That's a very helpful answer, thank you @avalanche for that, noted and much appreciated, will most definitely take it into account.

 

[JohnLocke]

I have cleaned the thread and setup a new one for Georgia residenct here https://www.offshorecorptalk.com/threads/residency-in-georgia-by-investment.28120/ please stick to the topic guys!

 

[hernanday]

As someone who use to sell diamonds and jewels, most of you will lose 50-70% selling your diamonds and jewels unless you really know what you are doing and know how to grade diamonds, distinguish fakes and can find a retail end buyer. And few people are seeking to buy just an individual diamond, they usually want it in a piece of jewelry. I eventually ran into this inventory problem that when I bought $200,000 worth of diamonds (trade not retail price) it took me a really long time to sell them off for this reason. The market has also only gotten worse because of bad PR for diamonds, and movies like blood diamond, there is international regulation on source origin of diamonds to try to stop blood diamonds from crossing borders, a decline in marriage and expensive weddings where diamonds where mainly bought. Also diamonds are not as rare as people thought they were, they are common in Africa, hence the diamond companies have to create chaos, wars in places like Liberia, Congo, Sierra Leone etc. and lots of laws in Africa and world wide to try to prevent the market from being flooded. Hence these blood diamond laws are really about just stopping the Africans from selling their own diamonds and flooding the market and undercutting established players/cartel members. Funny how there is blood diamonds but no blood oil, blood rubber, blood, coltan, blood copper, blood gold, blood tomatos, blood cacao, or blood chocholate or blood coffee.

It is widely believed that De Beers, and several other major diamond cartel players bought up billions of dollars of easy access diamonds from Africa in the 60s-00s and store them in vaults in Europe and they can flood the market any time.

Every diamond dealer thinks that a person selling their diamond is desperate, they also have a large inventory that they are struggling to sell, so do you think they are going to offer you market rates knowing that 90% of the people who do sell diamond to them are women trading in old rings and don't know its value because they didn't pay for it? They'd rather rip you off or make no deal than pay you fairly.

I don't know the answer to the question, but diamonds would be towards the bottom of my list of assets, I wouldn't be keeping a significant amount.

 

[daxbr]

He didn't talk any specifics and the devil is in the detail. What exact jobs will these people be entering with those skills that AI will not replace. How is language going to be important in the future when Skype improve and release further real time translate software in the future . I work with absolutes not ideas unfortunately.

https://www.skype.com/en/features/skype-translator/

Professional skills will be valued much less than resources. One who did not inherit his place in privileged classes, will receive minimum social payment to live limited span life.

 

[daxbr]

I already have residency in Georgia when I am not in Caribbean.

Underdeveloped countries are great places to survive upheavals, just not sure about Georgia specifically - the epicenter of next conflict, and nothing since Brzezinski's Grand Chessboard says otherwise.

 

[hernanday]

Underdeveloped countries are great places to survive upheavals, just not sure about Georgia specifically - the epicenter of next conflict, and nothing since Brzezinski's Grand Chessboard says otherwise.

I may lack sufficient inssight into these issues not being in Europe, but can European members explain to me why they see a country like Georgia who was recently invaded by Russia as a safe place? Also Cyprus with its bailins, aren't these like the 2 last places in Europe, you'd want to be?