- Kerry Lutz’s Financial Survival Network
Fellow survivor Rob Kirby joined me for a talk about the current financial woes. The dollar has already used up 8 of its 9 lives and has done so recklessly. When we speak of the demise of the dollar, we’re in a crypto-currency contagion. It looks bubblicious. To Rob’s eyes cryptos are doing exactly what gold and silver have not been allowed to do. We’re experiencing hyper-inflation in cryptos, stocks and real estate. However, Rob is skeptical of the party continuing in the real estate sector.
As economic conditions continue to worsen, with half the population not working and not earning, residential will wind up suffering the same way that commercial has collapsed. Mortgage rates can’t go any lower. Banks will not continue to extend credit should real estate prices move any higher and will tighten lending standards, thus shrinking the eligible pool of borrowers and purchasers. Anti-dollar financial assets will continue to increase. Crypto especially looks good. The long arm of the powers that be have so suppressed physical bullion that it’s becoming increasingly scarce and is becoming unobtainium.