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alstry (35.03)

To The Fools Who Think They Are Rich

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August 30, 2010 – Comments (6)

About 36% of Irish Firms at 'High Risk' of Collapse

Your wealth was based on three decades of debt accumulation.........

Now that central banks around the world are contracting credit......nearly everything will collapse in the Industrial Age.....

The only issue you should be concerned is whether the current holdings you view as assets will be worth anything in the Digital Age?

6 Comments – Post Your Own

#1) On August 30, 2010 at 3:22 PM, Dow3000 (< 20) wrote:

Ok, so I was at the signature Thomas Kinkade gallery over the weekend...the guy is amazing

Couldn't help wondering how well high end art will keep value in a currency crash situation.  Personally, I believe in gold...although I know you have your doubts.  What do you think about paintings?

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#2) On August 30, 2010 at 3:36 PM, alstry (35.03) wrote:

I am aware of an individual with the largest Russian art collection in the world outside of Russia.....I am trying to have coffee with this person on that exact issue....if we meet, I will give you an answer.

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#3) On August 30, 2010 at 3:48 PM, AvianFlu (34.92) wrote:

Well, there is the matter of liquidity. Gold bullion is easily exchanged for federal reserve notes. Finding a buyer for art is much more iffy.

Much as we all like the romantic Kinkade images, I can't help but think they are the adult equivalent of beanie babies.

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#4) On August 30, 2010 at 4:15 PM, alstry (35.03) wrote:

One piece of good art is a lot lighter than 500lbs of gold....and a lot easier to carry.

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#5) On August 30, 2010 at 4:28 PM, Dow3000 (< 20) wrote:

Avian,

I tend to think a US hyperinflation would be over very quickly and result in a new currency.  So my worry is not really about converting to FRNs but to the next currency after the crises ends. 

Got another one....rare baseball cards?  I think art probably holds value better but it is the American national pasttime.

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#6) On August 30, 2010 at 7:49 PM, oshiri (< 20) wrote:

Baseball, forget it. Think hockey, think 99 . . .

Wayne Gretzky rookie card for $80,000  http://www.psacard.com/articles/article_view.chtml?artid=4791 

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