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Thread: Sept 2015

  1. #21
    Super Moderator Quest's Avatar
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    I am especially interested in the money aspect...I am retiring next year and what to do with our minimal retirement funds is something we are really in prayer about at this point...

  2. #22
    Don't Ban me Bro! John's Avatar
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    Quote Originally Posted by Femme* View Post
    He knows this.. we have some coins, etc already.

    John.. can you be a bit more specific in your "of" .. I'm not overly concerned about making a lot of money on my small amount.. but are you saying choose a good bank? The one we opted for was started by a christian man, and still holds to those principles.

    or is it something else?

    I"m sorry, I don't usually do the money stuff.. so i'm flying blind here.
    I think you are safe with a bank as long as the account type you hold is FDIC insured. Be cognizant of the limits of the insurance and be careful that they have not moved you into a different type of account, one that is not protected. With banks selling everything today from stocks to insurance make sure that you don't get inadvertently moved into a trading account or some other "product" that is NOT safe.

    And on the precious metals, be careful, as catchy noted you need to make sure you aren't buying bogus products, the stuff you see in the commercials all the time, you may end up holding some "gold coins" but they have about a 1/3 of the value of market price for gold.

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  4. #23
    Super Moderator Quest's Avatar
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    Quote Originally Posted by John View Post
    In an environment like like this you need to be less concerned about a return on your money and more concerned about a return of your money.
    Interesting topic....seems to me that keeping my 'money' safe is looking like a mirage..the dollar is so devalued and could suddenly be worthless..then you have what...numbers on a page that are meaningless?

    If you have gold, what, gold coins? Can't very well spend a gold bar...

    Isn't silfer and gold only as valuable as the world values it in reality? After all really it's just another metal..

    Seems to me the safest thing to invest in is the extensive purchase of pinto beans

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  6. #24
    Super Moderator Quest's Avatar
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    John...FDIC insured by a government that is so far in debt it will never get out?

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  8. #25
    Don't Ban me Bro! John's Avatar
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    Quote Originally Posted by Quest View Post
    John...FDIC insured by a government that is so far in debt it will never get out?
    If the dollar collapses it will just be replaced, there will always be a currency.

    The thing is, financial advice is really, really tailored individually. A 28 year old with many years of earning capacity ahead of him/her would probably be better served with some risk, someone reaching retirement age may not be suited at all for risk. There is no "one size fits all".

    The only thing I think that could be applied universally is not income but outgo, the best defense against economic swings is to not have any bills, a prudent lifestyle. Some of the prosperity crowd may not go along with that but if you are floating a large lifestyle, you may be in for a shock if things go south.

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  10. #26
    Super Moderator Quest's Avatar
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    Quote Originally Posted by John View Post
    If the dollar collapses it will just be replaced, there will always be a currency.

    The thing is, financial advice is really, really tailored individually. A 28 year old with many years of earning capacity ahead of him/her would probably be better served with some risk, someone reaching retirement age may not be suited at all for risk. There is no "one size fits all".

    The only thing I think that could be applied universally is not income but outgo, the best defense against economic swings is to not have any bills, a prudent lifestyle. Some of the prosperity crowd may not go along with that but if you are floating a large lifestyle, you may be in for a shock if things go south.
    I agree...we got completely out of debt 2 years ago and the last debt to go was our house...if it all collapses we have a little RV on the lake and a boat to go fishing and a little garden spot for some vegies...and our LORD...

    He revealed the lie behind the idea of 'prosperity' and the lie behind the world's version of that called The American Dream. We are the most peaceful we have ever been...it's awesome.

    On the gold thing..I would like to buy some but do you know how to determine reputable sellers?

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  12. #27
    Don't Ban me Bro! John's Avatar
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    One more thing on banks.

    There will be no more bail outs and what they are proposing now is "bail-ins", what this means is that if a financial institution were to hit the skids, they would use depositor money to save their skins, you (the depositor) would bailed in. If you see any of this legislation actually going through I would be pretty quick to get the money out of the bank. The mattress at that point would be safer.

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  14. #28
    Super Moderator Quest's Avatar
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    Interesting concept if considering gold for bartering...

    http://www.jmbullion.com/50-gram-val...%20w/%20Assay)

    If that link does not work just Google Valcambi CombiBars..

    An article I read suggested buying a gold chain so that if you do need to barter you could take the chain apart and barter with the links...you would need to determine the weight and value of each link though..

    One would not want to spend a $500.00 gold coin for a loaf of bread...

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  16. #29
    Super Moderator Quest's Avatar
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    Quote Originally Posted by John View Post
    One more thing on banks.

    There will be no more bail outs and what they are proposing now is "bail-ins", what this means is that if a financial institution were to hit the skids, they would use depositor money to save their skins, you (the depositor) would bailed in. If you see any of this legislation actually going through I would be pretty quick to get the money out of the bank. The mattress at that point would be safer.
    But by then it's too late for the mattress...

    I read about a Senator? who was taking out large amounts of his own money and was arrested..apparently there is a safe amount to withdraw that is under a radar?

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  18. #30
    Don't Ban me Bro! John's Avatar
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    Quote Originally Posted by Quest View Post
    But by then it's too late for the mattress...

    I read about a Senator? who was taking out large amounts of his own money and was arrested..apparently there is a safe amount to withdraw that is under a radar?
    You can take out what you want, he was arrested for evading reporting limits, it's called "structuring", originally put into law to track and deter terrorists, now just a capital control, another tool in the war on citizens.

    They report any cash transaction 10,000+ BUT have started to report lesser amounts, the teller can act on his/her "suspicions".

    Trying to evade the reporting by, let's say making 3 deposits at $9,990.00 vs. one at $29,970.00 can get you arrested and of course the money can be confiscated (the goal).

    These are called "capital controls" a tool of tyranny.

    tip: always be nice to the teller.

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