Luxury watch is the latest currency

 Aftermath of US EU countries with all-round sanctions including German agricultural seeds for Russia.

Chinese are learn to keep physical goods and not paper money, thought there is not official announcement on this but we can feel that people of China are awakened.  There will be a huge round of inflation as the US, Japan, UK, Sweden, etc, are printing more and more money.  So the Chinese are planning not to accept USD but only their RMB for payments.

 When the U.S. COVID-19 epidemic broke out and there was no effective preventive measures and control for a long time…  the country’s populations were isolated, production stagnated, and stocks of supplies quickly dwindled, and the Federal Reserve desperately cut interest rates to stimulate the economy including printing bank note for the so-called quantitate ease. 

The Euro, the US dollar, the British pound, and the Swiss franc are all such currencies and will gradually become useless paper.  When the country’s inventory is extremely running low and scarce.         Everyone understands that whoever exchanges real physical things for these spirit money is insane.

Just within this quarter, the United States has issued an additional 1.9 trillion dollars, and the Japan also printed a large amount of money. Banknote becomes as cheap as toilet paper or spirit money.

Many people including Eastern Europe as majority understands that in any country where the epidemic is not under control, they will no longer exchange physical objects for foreign currency.

Many people are using watches as for their latest tool for money laundry. As anywhere anytime you can cash and there is no customs restriction when you travel anywhere in the world.

We have taken this action, and it is estimated that Vietnam, India, Malaysia, Indonesia other than China and other producing countries will also adopt similar "CLOSE DOOR" measures.

In view of this, I think many of the people will use their extra money buying/selling luxury watches as an investment fortress for the reasons:

1.       Easy to cash

2.       As an alternate security of their properties other than Bitcoins, NFT

3.       Easy to move around across countries

4.       No Lawyers service charges, no commission fee

5.       The higher price of the watch the higher the demand

6.       The Big Three, Plus RM and Rolex

 

Why not? As these are the new currency now.

 

HK Snob