Not sure how old this video is - at least as new as May 2019, but probably from this month (june 2019). The price of btc is currently on the rise, so this number may not remain accurate for long, but I think the principle will hold up for another year. Other real estate ventures Wright mentions being interested in are retirement villages and multi residence developments. He also mentions getting much higher returns from rental properties by putting them up on AirBnb. He mentions that he is not personally involved in the upkeep or management of these properties, so presumably he hires these duties out, and the costs don't eat up his profits by any means. Of course, anyone could make these claims, and I'm sure results vary widely, so caveat emptor.
Wright tells an anecdote of an Argentinian man he knew of whose family lived off of a 3k investment for 30 years. When the local economy crashed, the family was wiped out but for a stash of three thousand American dollars, which they had collected at their store when tourists would purchase their wares. They put the money in the Argentine stock market, which being at the lowest point, quickly recovered. Since many companies offer huge dividend incentives after a crash to entice new investors, the dividends were enough to keep the whole family living comfortably for three decades.
Wright says right now it's best to be in Bitcoin, Cash, and precious metals. He acknowledges that Us dollars are not a long term strategy, but argues that the dollar will take years to unwind while the strategy is to get out long before then.
No-No's: stock market, real estate. Real estate is going to get smashed, and smashed hard, he foresees. I assume this means 401ks and mutual funds as well.
run"/>
First thing they do in a crash- lower interest rates. But rates are very low now! So they would have to go to negative rates (what?). Next they will print more money (more debt!), followed by possible Bail-Ins. Like what happened in Cyprus in 2013. The biggest banks closed without warning for 3 weeks, leaving most people without access to their money. Then the government stepped in and halved everyone's money. Just wiped out half of all savings in one fell swoop. To add to the outrage, there was now a withdrawal limit of 150 euros a day, so you couldn't out what money you had left. The laws to do this here in the Us have already been put in place, apparently. No surprise here.
Sounds like he is predicting another crash similar to the one that happened in 2008. I've read that a market recession on average happened every 8 - 12 years. So its seems that we are overdue for one
Posted using Partiko Android
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit