Good point and I am still too much dependent on counter-parties. <all the while get away from counterparties to the extent one astutely can and must. > My main concern is people "minding" my money for me. I should turn my money into something with my name on it. But I figure I have some breathing room. I like to panic first, but preferably after I see the actual fun starting which I must avoid. I enjoy escaping with the skin of my teeth. Safety is a bit too boring.
There are apparently people who are so safety-conscious that they buy insurance of various kinds, such as for their cars, houses, chattels, their directorships, health and even their lives.
"If I die, I win, if I don't die, you win? Okay, it's a bet. Here's my money!! Now, I hope I die and win." That's not a bet I like. Heck, at one time, in the 1980s, with BP Oil insurance/guarantees on my life, I would have been more valuable to my family dead than alive. I don't like people to think too long along those lines.
Similarly, car insurance. Car driver phones insurance company, "I bet you I crash my car." Car insurance company says, "We bet you don't." Driver says "Okay, you're on. Here's my money."
There hasn't even been a Northern Rock yet in the USA. I'd like to see a bit of a run on various companies before I join the herd. I'd feel a bit silly running around shrieking in panic on my own.
There is certainly LOTS of financial relativity theory action to happen of cosmic crunch proportions.
Mqurice |
