One old guy's take on things nowadays...

[Lumos]

Hi Folks.
I've known a few guys who were wealthy forex traders - one even had some sort of satellite setup with DOS PCs connected for live trading before the internet came along.

Right now though things are crazier than I've ever seen them get before in the world at large.

The way I see it - big moves are likely planned for all things financial.
Of course whatever that is will mess with all things depending upon 'money' now.

So anything of any monetary value will get messed with as well.

We're already deeply into a condition very much like the depression of 100 years ago - the big difference is the paint job that has been piled on top of it by all the ways which folks have been living off of credit so easily for years already.

If all the 'cashless' predictions come true, and the $$$ become worthless and/or a gubbermint/NWO crypto is declared to be the ONLY money - then all the efforts at earning via forex (for example) will likely become null and void.

I could be 100% mistaken too - but from my POV it looks like a good time to see what is following the world-wide shutdowns rather than making any bets anytime real soon.

[EuroTrader]

Hi smithnowt!

Glad to see you in the Forex Section!

I've followed and posted in your NO MORE - NEVER AGAIN! thread in the Miscellaneous Section and urge everyone to read it and post their thoughts.

As you know, I'm an old guy too. LOL! But I see it a little differently with regard to financial markets.

I trade stock index futures, currency futures (not Forex -- but the same concepts) and commodity futures. There will always be commodities . . . regardless of whether there is a single (doubtful) world currency. I tend to think that IF a change is made, there will be several major, thus competing, digital currencies, if not dozens of regional currencies.

They will fluctuate in value against each other and the opportunity to transfer some of your digital currency into a cheaper regional currency and get out after it increases in value and do it again and again and again . . . will still be available. That's what I do with currency futures and others do with Forex. So it will still be a rose by another name.

I can guarantee there will be oil, and corn and wheat and soybeans, gold and silver, sugar, coffee, cotton, etc. and the future costs will be locked-in for both suppliers and refiners -- the original design of the futures markets a long time ago -- and so whether those are settled in dollars or euros or yen or some as yet unknown digital currency . . . it will also still be available for speculation and profit. That doesn't even begin to discuss corporate stocks and stock options, which will still be bought and sold . . .

So I expect I and my sons will still be doing all of this for years to come.

I may also be wrong.

Best Regards to Everyone!
EuroTrader

[Lumos]

Greetings and Thanks EuroTrader !!
Absolutely agree that no matter what - so long as there ARE people, that 'people gotta eat' - so outside of extreme poverty, some sort of markets must exist, even if/when utter tyranny may take over the planet (as the current aim seems to look like...).

What I was referring to would be shown as the hypothetical of forced compliance into either chipped and/or carded ID, as in the supposedly utopian vision of the NWO cashless world.

If that vision forces itself onto our world, then all current means of payment and trade would likely become quite useless for some time.

Back to 'people gotta eat' - a trip to the food market...
Right now cash or plastic is fine - but not crypto in the US (AFAIK) - but that could change literally overnight just as pretty much ALL the small businesses were forced closed overnight.

If/when the banks stop for any reason, or if there is really bad stuff like what happened in Venezuela, suddenly most of the populace will be unable to even get basic needs met.

Trading of all sorts may keep marching on - but with things so crazily in flux - what to do to benefit from any possible proceeds ??

In the previous Great Depression which began in 1929 - CCs had not been invented or rolled out yet and the cash money remained in use, though unreliable in value;
In THIS present (and well hidden) depression, the CCs are a huge part of the paint job and getting folks used to using cards for EVERYTHING must surely have been planned - so if/when cash is made valueless and it isn't possible to pay at the stores with metals alone, then the only means of exchange would be whatever 'credits' are placed into the goobermint controlled IDs.

There, exactly, is where my observations point to.
This is merely one old guy's perspective and it'd be great to be 100% wrong in a POSITIVE manner - but that is not what my old eyes are seeing these days.

How do you think things are panning out and will go from here EuroTrader ?!?

[Haddock]

I think the bigger danger as it doesnt require a monetary reset is that things like MIFID2 get more stringent.
That reduced margin down to a level where a small account holder would struggle to get anything out of it ( not having an argument about margin and blowing up etc)

Now if they keep going that route - it might get that the cost of playing is way way out of the ordinary person in the street - The PDT rule on steroids ...
You want to trade FOREX sure - no margin allowed
Want to trade stocks sure PTD is now 100K
Futures min account 250K

now all those numbers are obvious;y made up - but you can see where its all going MIFID 2 is there to protect the ordinary trader ... this is for your safety - just get this chip so we know you re COVID vaccinated and then we can let you go to work - to PROTECT people ... very slippery slope