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Thread: Will The Financial Crisis Affect Me?
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Replies:
15
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Last Post:
Jun 11, 2009 5:07 AM
by: mengcomment
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Posts:
1,291
From:
Muslim live in Egypt
Registered:
11/8/07
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Will The Financial Crisis Affect Me?
Posted:
Oct 9, 2008 11:56 AM
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The world is facing a global financial crisis that started in the US and affected the world. I was thinking like most people, how can one protect himself? I have some savings at the bank, small amount in $ and the rest in Egyptian currency. Is there a reason for alarm? and how can one avoid any loss or sudden surprises? May I have your advice please?
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Posts:
1,291
From:
Muslim live in Egypt
Registered:
11/8/07
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Re: Will The Financial Crisis Affect Me?
Posted:
Oct 10, 2008 2:30 PM
in response to:
Maryam95
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Shall I get rid of the $ now? Shall I keep the money in the bank or take it home or buy gold ? still waiting for some advice, and I think most of the people round the world have the same questions, it's not a local crisis it's international!
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Posts:
3
Registered:
10/10/08
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Re: Will The Financial Crisis Affect Me?
Posted:
Oct 10, 2008 2:37 PM
in response to:
Maryam95
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buy gold. Gold is safer and this crisiss is not going to end within few days. i advise you to buy gold and later you are going to sell this gold at a higher price inshallah.
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Posts:
1,291
From:
Muslim live in Egypt
Registered:
11/8/07
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Re: Will The Financial Crisis Affect Me?
Posted:
Oct 10, 2008 9:21 PM
in response to:
oranzo
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Thanks oranzo. I hope this crisis will not affect us strongly here in the MidEast.
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Posts:
737
From:
International World Citizen
Registered:
10/7/07
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Re: Will The Financial Crisis Affect Me?
Posted:
Oct 11, 2008 7:02 AM
in response to:
Maryam95
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Buy gold or Russian Rubles or at least Euros.
Much earlier I warned in a post that this financial collapse would occur but there was hardly any interest. I also advised what to do to avoid incurring financial losses.
The gold price has doubled since my advice and is about to go through the roof.
This is just the start of a depression and the full effect will become more apparent by January/Feb next year, In the event McCain wins the election, it will immediately trigger a drastic plunge in the American economy due to international concerns of his erratic mentality and the risk of a likely financially devastating war with Iran.. If Obama wins, it will merely delay an inevitable depression as the trillions of dollars of US debt will be unsustainable by the Reserve simply printing more paper money that is not backed by any precious metals.
My grandfather made his billions by converting all his shares to gold as soon as he observed that a recession was becoming eminent and after prices of properties bottomed he bought up land and properties (brick & mortar) from resulting bankruptcies. After waiting several years for full recovery of property values he then re-sold at phenomenal profit, so that’s the way to go. He made his fortune when less astute bankrupted paper-millionaires were jumping off tall buildings.
Buy gold before it ‘Zooms’ in price.
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Posts:
1,291
From:
Muslim live in Egypt
Registered:
11/8/07
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Re: Will The Financial Crisis Affect Me?
Posted:
Oct 12, 2008 10:35 AM
in response to:
Mustaf_Asay
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Thank you very much Mustaf. I started by getting rid of the $ that I have and changed it to Egyptian currency. I'll probably buy gold too. Do you think this crisis will affect the whole world with the same level or some countries will suffer more than others. Are we going to be affected very much in the MidEast?
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Posts:
737
From:
International World Citizen
Registered:
10/7/07
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Re: Will The Financial Crisis Affect Me?
Posted:
Oct 12, 2008 6:59 PM
in response to:
Maryam95
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Dear Maryam, unfortunately the Egyptian currency is tied to the $US due to the large propping up of the Egyptian economy by America, and when a depression occurs continuing the donations will not be possible, especially if McCain wins as he hates all Arabs and has tunnel vision.
Yes, regretfully almost all countries will suffer financial losses as a consequence; some more than others. Even the Arab currencies are tied to US$ due to oil transactions being in US$. They should switch transactions to Russian currency as Russia is also a major oil supplier and will not suffer as badly & also has a manufacturing base. Although the demand for oil will lesson (more so when Western industries/transport switch to alternate fuels such as hydrogen cells powering cars and also wind, tidal & nuclear energy for domestic and industrial use), the continued demand for oil by China will cancel out too much wealth losses by Arab exporters in the short term. This will only continue until China/India also diversifies into alternate energy. Some oil of course will always be needed for lubrication even in hybrid transport and industries but to much lesser extent so prices will eventually fall drastically.
If the current wealth advantage of Arab oil producing nations is not wasted on glorious shopping malls and luxurious buildings and instead quickly diverted before it’s too late, into manufacturing exportables – ie, industries, factories etc, the Middle East will be capable of holding it’s own. Egypt on the other hand has no oil or mineral advantages ,but what it does have is a large population (workers) and therefore the potential to become another industrial power by manufacturing products the world needs like China and India are currently doing but to do this Egypt needs the guidance of competent rulers capable of projection into the future.
As I advised previously, in the interim buy gold, silver, platinum, or especially uranium mining company shares if you can get them – do not buy any paper money that is not backed by a precious metal.
Regards.
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Posts:
51
Registered:
10/12/08
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Re: Will The Financial Crisis Affect Me?
Posted:
Oct 13, 2008 1:02 AM
in response to:
Maryam95
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Don't worry mate. Take life easy and enjoy. Life is too short to worry about matters. So relax Mariam and lets all pray god . ok. BEST OF HEALTH
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Posts:
17
Registered:
1/28/08
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BOTH CAPITALISM and COMMUNISM ARE ROTTEN EGGS
Posted:
Oct 13, 2008 4:58 AM
in response to:
Maryam95
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Whether Mariam likes it or not, every one, including those who keep their money in banks/mutual funds/equities/other forms of securities is directly or indirectly affected. It is like a worldwide endemic that will keep spreading no matter whatever we do.
The capitalist system of finance is meant to be that way: it is a well organised but closely guarded conspiracy of selected economists to help huge international financial firms/merchant banks/discount houses/mortgage providers/ to rob the common folk once in a few years ( Economists may use incomprehensible jargons like trade cycle or world recession and so on) and to make sure that the huge financial sharks of the world.
Karl Marx the Jew gave the idea of communism to solve all the economic ills of the world. Communism proved as a useless man-made ideology that was dumped into the dustbin of history. The Communist Government is the only capitalist under his system.
The Capitalism of the West works exactly the same way as communism, but in this case about 100 very huge business firms ( a combination of finance firms, oil corporations, mass media, armament industry etc) control and manipulate the world money system. As another man-made ideology it is high time the world threw overboard as a rotten egg, the capitalist system also as it did with communism.
And the alternative lies with morality and justice based Islamic economics. But will it be allowed to function or will it be undermined by conflicts, wars, regime changes, organized state terrorism or Al-Qaida type terrorism and what not.
But one thing is clear the Ummah is 100 years behind in their pragmatic economic and investment thinking. It is high time we got out of the Western financial system and set up an Islam based world currency. Who will bell the cat? And who will guard the wolves?
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Posts:
1,291
From:
Muslim live in Egypt
Registered:
11/8/07
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Re: BOTH CAPITALISM and COMMUNISM ARE ROTTEN EGGS
Posted:
Oct 13, 2008 1:35 PM
in response to:
paluvakka
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I'm keeping my money in an Islamic bank and everything is OK. We were not affected that much here in Egypt and the mideast.
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Posts:
1,291
From:
Muslim live in Egypt
Registered:
11/8/07
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Re: Will The Financial Crisis Affect Me?
Posted:
Oct 13, 2008 11:48 AM
in response to:
Maryam95
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It affected the US very much, how about your country? America's Economic 9/11
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Posts:
737
From:
International World Citizen
Registered:
10/7/07
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Re: Will The Financial Crisis Affect Me?
Posted:
Oct 14, 2008 10:31 AM
in response to:
Maryam95
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Maryam, in my country we are doing excellently as we are not dependent on the USA but are tied firmly to China. In the developing China, nuclear energy and the access to uranium will be vital, & my nation possesses 60% of the world’s uranium deposits. Having a leader that speaks fluent Chinese is also a huge asset with Sino/Aussie relations.
Incidentally whilst the rest of the world is reeling with Americans losing their homes, just today, our Prime Minister has encouraged the purchasing of new homes by granting anyone doing so a bonus of $25,000 for free, all single pensioners to be given gifts of $1,400 each, (couples $2,400), plus an extra $1,000 to anyone caring for someone sick etc etc, just to keep our economy rolling along by encouraging a spending spree. China spends billions on buying our resources & we spend it buying lots of Chinese goods, and no-one loses. It’s a great exchange & a wise Government.
Ours is a nation that operates on billions of $ surplus and does not operate on an enormous deficit like the US does.
Unlike Iceland that has no natural wealth & last week declared bankruptcy we have besides the uranium, huge deposits of coal, natural gas and oil as well as mountains of iron ore – all in demand by China, so all in all this is a very desirable country in which to invest money in.
Luckily our economy is not subjected to evil Rothschild/Morgan machinations like Americans have allowed themselves to become victims of, and we have no intention of coming under the thumb of the Jewish ‘One World Government’ plan, nor will we agree to be at the mercy of a Central Jewish Bank, and neither are our clever Chinese partners..
Regards.
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Posts:
1,291
From:
Muslim live in Egypt
Registered:
11/8/07
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Re: Will The Financial Crisis Affect Me?
Posted:
Oct 14, 2008 12:00 PM
in response to:
Mustaf_Asay
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Thank you very much Mustaf. I always enjoy reading your posts and comments and I learn a lot from them. I'm glad that your country is doing OK during this crisis, BTW where are you from?
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Posts:
737
From:
International World Citizen
Registered:
10/7/07
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Re: Will The Financial Crisis Affect Me?
Posted:
Oct 14, 2008 5:28 PM
in response to:
Maryam95
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Maryam, you must come and visit our country one day. Australia consists of a whole continent, enormously rich in mineral wealth and blessed with great weather choices. It is so vast that you can have a choice of living from the palm-treed tropical north where there are beaches far surpassing those of Hawaii ( the sand on Hawaii beaches actually was mined from one of our islands, Fraser Island, which is the biggest sand-island in the world) or you can live down south where there are snow fields, seals and penguins, or if you don’t like it too hot or too cold, you can chose the sub-tropics where the temperature stays around a balmy 25 degrees centigrade all year around and also has hundreds of miles of magnificent beaches.
We have a fond nick-name for our country --- we refer to it as Godzone – or God’s own country, because He has blessed us with everything that we need. I have traveled the whole world and found that our Emerald and Sapphire Coasts are truly the closest thing to Paradise on this mostly sad planet with all it’s strife, wars and killings.
Regards.
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Posts:
5
Registered:
11/11/08
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Re: Will The Financial Crisis Affect Me?
Posted:
Nov 11, 2008 8:37 AM
in response to:
Maryam95
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I must admire the power of the Internet.When I google"finance crisis",I found this article&forum. I am an international news editor&reporter in China.Nice to meet you in Islamonline Forum. Maryam95，Mustaf_Asay，paluvakka，oranzo，nice to meet you here.I hope all you would conquer the finance crisis. If you want to know more about China,or want to make friends with a Chinese,don't hesitate to contact me:djlove2004##hotmail.com(email and msn，change'##'to'@'please) Nice to meet you again.
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Posts:
1
Registered:
6/11/09
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Re: Will The Financial Crisis Affect Me?
Posted:
Jun 11, 2009 5:07 AM
in response to:
Maryam95
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The financial crisis affects us all, physically and psychologically at the least. The “Global Monster” that awoke in 2007 (Bear Stearns) had been in the system for about 8 years. I had a go at interpreting the crisis as of 2009 in sculpture and poetry and I hope that some of you can share my feelings about it.
www.mengcomment.com
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