Quote Originally Posted by mamboni View Post

Who wins: people with net positive worth in cash and hard assets, assuming the cash isn't seized (bank holiday) or devalued/cancelled (currency collapse). In short, the frugal, hardworking, live-within-their-means productive middle class and a few old money goldbugs/landowners are the winners in a deflationary collapse.


Worthwhile watching this very recent interview with "Ferfal" who lived through the Argentine collapse. Relevant to this thread is to notice that he (middle-class) explains that he finally fled with his family to Ireland because the lower-class soon became to "hate" the middle-class and criminally victimizes them with a smug sense of social revenge. "Hate". His word for it.