Where are all the pundits keeping their money?
Submitted by LastAmericanStanding on Fri, 09/18/2009 - 12:30
in
Weekly, I seem to hear from guys like Gerald Celante, Paul Schiff and the like predicting the downfall and demise of our economy and our country.
Don't get me wrong... I kinda have the same feelings!
The difference between these guys and me is that they're loaded and I'm not.
So, where are all these guys who are predicting the coming catastrophe hiding their loot? It can't all be in gold and silver coins!
How about the good Doctor? Do we know what RP's investments are?
Just thinking... why reinvent the wheel?
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I don't know where pundits keep it but the Wall St. Bankers.....
It's called "Permanent Life Insurance" and it's been around for over 200 years.
1. Make sure it's a mutually owned not stockholder owned company.
2. Put the money you'd normally spend on health insurance premiums into the life insurance policy.
3. If you're new to the world of finance go here and watch all of the videos. http://www.youtube.com/results?search_query=Infinite+Banking...
http://www.freeinfinitebankingvideos.com/index.php
4. I cancelled my $7,200 per year coverage.
5. I pay cash as I go.
6. I get 5 to 7% on my money in the life policy paid as an annual dividend. Growth is CONTRACTUALLY GUARANTEED. Not like a 401K or IRA. And dividends pile up with compounded dividend payments. TAX FREE.
7. I can take money from my policy as a loan. If I choose to, I can pay myself interest as I repay the loan.That interest growth is also tax free growth.
8. The cash accumulates TAX FREE. The company has never missed a dividend payment in over 100 years.
9. The dividend is paid on the value in my policy just as if the loan was never taken. It's called un-recognized dividends. So even though I took money out, I still get the full dividend as if I had not borrowed.
10. Make sure your policy has a "paid-up-rider". This allows you to leverage additional value into the cash value FASTER by paying a smaller, additional premium.
11. You can take as many of these policies out on loved ones and as the phrase says, create an "Infinite Banking" system that you own and control.
12. When you pass away the whole thing goes to your beneficiaries, tax free. Any outstanding 'loans' against the policy are deducted from the cash value. Often the face value or death benefit exceeds the cash value if you've plowed money in over the years.
13. Cash that you "borrow" to use for any purpose is not considered income so it is not taxable.
14. The best part is there is NO GOVERNMENT INVOLVEMENT.
15. There is never any penalty for early disburments or unpaid loan balances.
16. When you retire you are not required to take a minimum annual retirement amount like an IRA or 401K. You can let it grow - TAX FREE or Take it and blow it - TAX FREE.
That's FREEDOM
~~~~~~~~~~~~~>>>> "Is Anybody Out There?"
http://www.youtube.com/watch?v=fXaXV2OZmLw&eurl=http%3A%2F%2...
"GINO" = Government In Name Only
A Question Daddy.
Can you please explain what this company called:
"Permanent Life Insurance"
Invests your money into to give a 7% dividend.
Thank you in advance.
beesting
Now THAT'S and interesting tidbit!
I'll bookmark this info for later.
Thanks!
I may not know the truth, but I know when I'm being lied to...
I may not know the truth, but I know when I'm being lied to...
Ron Paul's 2008 Financial Disclosure Statement
It looks like RP is invested in mining stocks (gold and silver).
Here's the real question- on paper he isn't worth much, according to his FDS. I'll bet he has "possession" of AU and AG.
http://pfds.opensecrets.org/N00005906_2008.pdf
Dr. Paul has Gold/Silver and precious metals mining stock.
My grandfather who was born in Scotland started his business life in Lexington, Massachusetts around 1900. He was a printers apprentice. He saved his extra pennies, dimes, quarters, and dollars.
By the time the depression hit {1929} he was considered a wealthy man. he maintained his wealth through the depression and WW II.
When he died in the 1950's, by today's standards, he would be considered a million air, because of his real estate holdings.
How did he do it???
He taught me to take a portion of every pay check and treat it like it was a very important bill that had to be paid every month.
{ It was important because those savings were his retirement money since there was no S.S. in those days.}
It is not hard to buy a Silver dollar or more every month. Eventually, a person should have enough Silver to exchange it for Gold coins.
A 1/10th of an ounce Gold coin is a little over $100 right now.
As this self directed insurance fund builds other opportunities may arise that take cash money,,,,,and you now have some.
Get good at math!
At about an 8% annual rate of return your original investment doubles in about 7-1/2 years.
Physical Gold has appreciated at about a 16% return for the last 8 years which would give an investor about triple the amount//value in all major currencies, on their original investment in Gold.
Here is a good pro Gold piece by James Turk.
http://www.kitco.com/ind/Turk/turk_aug182009.html
If the Ron Paul supporters pay attention to what he says, he stresses that savings at "All" levels can get us out of this recession, Not Spending !
beesting
Ahh the old libertarian school of man.
Nothing like the story of pre-welfare state and how people took care of themselves and were wealthier for it. Kudos to him and kudos to you for having a practical example to follow!
Progress is precisely that which the rules and regulations did not foresee. - Ludwig Von Mises.
It's September and I'm 80% cash and 20% long term Puts AGAINST the market. Gold is also going down. Want to know why?
http://www.investophoria.com
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Progress is precisely that which the rules and regulations did not foresee. - Ludwig Von Mises.
Your grandfather had a good head on his shoulders.
_________________________________________
"An economy built on fiat money is a society on its way to ashes."
_________________________________________
"An economy built on fiat money is a society on its way to ashes."
Jim Rogers says he is investing in hard assets
of course with his money that means buying farms.
But you can take the same approach on a smaller scale. What he is telling you is:
FOOD IS CRITICAL.
Make sure you have some and know how to get more safely, like growing it yourself.
He stresses focusing on necessities.
It might not also be a bad idea to buy things you don't need or use - like diapers or cigarettes. Both will be invaluable during a depression. I promise you, a diaper will be worth more than its weight in gold since gold is not very good at holding in crap from a baby's butt. I have a friend who once said she was offered $20 in an airport for a single diaper. That's how desperate she was. (she gave it to her no charge with a blessing) And that was before the economic crunch. Heed those words.
Haven't seen a Rogers
interview lately, but in his last couple of interviews I did see he said he was buying agriculture-related interests.
I think you are correct about him focusing on necessities....like food production.
there was a post here about
there was a post here about Ron's candidate disclosure form, I can't find it, but maybe someone else can.
I think he had a decent amount of stock in Gold related companies, a few mining companies and the like. I can't remember exactly
I'd also like to know what anyone suggests for people that don't really have a ton of money to invest, where to start. Unfortunately, when i say not a ton of money to start, some people respond with 10k and up, I'm thinking more like a thousand or 2 every few months.
I sorta remember that too...
Can't recall the thread, though.
Anyway, the spirit of this was if 'the rich get richer' in times of crisis like this then I think it would be a good idea to follow their lead rather than just 'getting poorer' as usual.
The 'poor get poorer' because they don't have a lot to begin with and they tend to panic when confronted with economic adversity.
Wealthy folk see times like these as a nation wide yard sale and start scooping stuff up with both hands!
So, where is the smart money going these days? Gold/silver mining?
I may not know the truth, but I know when I'm being lied to...
I may not know the truth, but I know when I'm being lied to...
a thousand every couple
a thousand every couple months is a lot of money.. don't think you are poor.. the first thing I would do.... buy 500.00 in 1964 or earlier silver dimes.. these dimes are 90% silver.. next take the other 500.00 and start buying freezedried food.. Mountain house is the way to go...
www.emergencyessentials.com they also have years supplies of
beans, wheat rice etc... that is what I would do. in 6 months time you will be set pretty good.. I think if a guy can get 10k worth of silver he will be very pleased.. he will have a small fortune here soon... just work towards the goal. also if you have family or close friends out in the country with a farm, see if it is ok for you to come out and stay with them if things get really bad... non hybrid seeds are something else you should store. emergency essentials has tho also.
A prudent man foresees the difficulties ahead and prepares for them; the simpleton goes blindly on and suffers the consequences. Proverbs 22:3
A prudent man foresees the difficulties ahead and prepares for them; the simpleton goes blindly on and suffers the consequences. Proverbs 22:3
Matthew 10:34 Think not that I am come to
send peace on earth: I came not to send peace,
but a sword.
Nice, I will get on it ASAP.
Nice, I will get on it ASAP. I appreciate it Sierra, I will try to find a dealer in my area that has the 64 dimes.
What is a fair price? Like how many should I be expecting to get for $500.00, sorry, I'm really ignorant on this topic, like many topics. LOL
Stuff. Get stuff first, silver and then gold later.
Above all though, you need SKILLS. All the stuff in the world is no good if you have to be on the move and can't take it with you.
Learn how to camp - for real, not out of your trunk - and learn how to use the basic necessary gear. Buy an SAS manual at a bookstore. You might also find an Army field manual. There is even an SAS pocket version. For the most part, all you need in gear is a good knife. The survival guides will tell you how to make the rest of it. SKILLS are crucial.
Our greatest loss will be the lost knowledge of skills, cooking, canning, gardening, mending, repairing, machinery, construction, plumbing, etc. Learn skills first.
In the meantime, you can start acquiring some basic stuff to hold you over for emergencies. Start with food - minimum 3 month supply. One year would be better. Seeds and a garden is best.
Don't forget about household necessities, TP, basic cleaners like ammonia and vinegar, soap. First aid supplies. Vitamins. Basic manual tools don't hurt either.
Later you can focus on things like solar panels and water filters.
Tend to absolute needs first:
Water, Food, Shelter, Clothing, Hygeine & First Aid.
Then look for comfort items.
THEN, start buying precious metals as a savings. (not an investment)
In those small amounts, buy locally from a coin dealer. You will not get the best price world wide, but the relationship you develop will be invaluable. He will be there as your "bank" to convert back to local currency if the need arises, as well as a great source of "alternative" information as to what is really going on out there.
As for what to buy, start with silver. Junk (90%) US coins. Stay away from Silver Eagles as they carry a high premium. Stay away from foreign coins as they are not as well known or trusted.
After you have spent several thousand on silver, start with gold. The one ounce bullion are the best for value. The fractional coins aren't even made any more so you will never find them, much less at a good price. The old gold coins are stupid expensive.
I'd start with dimes and quarters, then work my way to halves. Dollars are okay, but any decent quality ones are expensive per ounce. (even the halves usually carry a premium)
Larger bars are a nice way to go too. But remember currently two 100 troy ounce bars of silver, that each weigh about 7 lbs is the equivalent value of about 3 ounces of gold. That won't always be the case, but it's a lot easier to carry the gold than the bars. (there are smaller 5 and ten ounce bars of silver, by the way)
Good luck. You are a little late to the metals side of it. But it's never to late to learn skills.
Great response, thank you.
Great response, thank you. I'll get an SAS this month
Lemme see...
Celente... he went and took all his money out of the bank at once awhile back.
Dr. Paul's money is in gold mines, oddly enough... :)
Peter Schiff's money, if he invests like his company does, is mostly overseas.
~Live life to its fullest, with an open heart, open arms and most important... an open mind~
Celente also often says
"We do forecasting, not financial advice". But he has advocated gold publicly several times.
Progress is precisely that which the rules and regulations did not foresee. - Ludwig Von Mises.
It's September and I'm 80% cash and 20% long term Puts AGAINST the market. Gold is also going down. Want to know why?
http://www.investophoria.com
- - - - - - - - - - - - - - - - - - - - - - - - - - - -
Progress is precisely that which the rules and regulations did not foresee. - Ludwig Von Mises.
Bump
Bump
beesting