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Economic basics...how to list!?
Ok, so aside from investing in precious metal coins, etc, what are the top things that people should start doing? I have a mortgage, and some credit card debt. I will pay off as much of the debt as possible now, hopefully wipe it out within the next two months. The mortgage will still be there though. What else can I, should I do? Thanks!
The Retrocon
Hope for America, Ron Paul for President in 2008!
The Retrocon
Hope for America, Ron Paul for President in 2008!
Desperate move indeed
I can't remember the Fed lowering the discount rate more than 50 basis points EVER, and almost always at a scheduled FOMC meeting. They clearly know what is in the offing and it isn't pretty. I wouldn't even start buying gold and silver yet until you have at least six months of stored food for every member of your family.
Desperate move.
This is a last ditch effort to avoid very severe recession and bail out banks. The run on dollar is probably imminent I think that Chinese and others learned they lesson not to lend somebody who plans to repay with 50c on dollar.
Go Ron' Your help is needed right now.
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BUT WE NEED TO DO IT NOW - BEFORE THE PRIMARIES WILL BE OVER.
Any suggestions?
What should I do with my 401K?
401 K
Look for safety & get out of dollar. Nordic & swiss mutual funds?
I just moved all of my holdings into a Money Market account
My portfolio was donw almost 10% since the beginning of the year. That equates to a decent amount of money so yesterday I reallocated my entire portfolio into a money market account. At least there it will not drop any further as a result of the market crashing.
I'll keep it there until I can find somewhere better to move it. I e-mailed my provider last week and asked them about precious metal funds and the response I got was interesting, to say the least. It was something along the lines of...
"The precious metal fund we offer has been closed to new investors. This has been done in order to protect the investors already in the fund."
What the hell does that mean? Sounds to me like they know people are going to start trying desperately to move their money into metals, but I can't figure out why they wouldn't want to demand to drive up the price any further. anyone have any idea why they would make this move?
Moved it to Bond funds
since I can't get out
US denominated bonds are the
US denominated bonds are the worst place to be if the dollar is falling. Stocks are much better. For example the Zimbabwe stock market went up strongly as their currency collapsed.
The best bet for a weak dollar is other currencies or commodities. FXC is a Canadian dollar money market. I keep all my cash there. GLD is a gold focused exchange traded mutual fund. Both are great inflation hedges. Oil and gas produces, agricultural and mining companies are all good potential investments for this environment. If you can do a lot of research, companies that have long term fixed debt, but revenues that will easily go up with inflation would be good choices.
Another great inflation hedge is to take out a long term fixed rate mortgage. This allows you to benefit from inflation as your home value will likely rise some in the face of inflation, while your payments stay the same. And even better, the Government gives you a tax deduction for the interest.
Here's what I done
Last week I logged on to my AIG/Valic account look down the list of funds choose the one losing the least I choose and International Gov. Bond fund. I don't know if this will help but I tried.
"First they ignore you, then they ridicule you, then they fight you, then you win."
-- Mahatma Gandhi
A Republic, If You Can Keep It
Money . . . you can't give it away
Call me when it goes negative.
God is the LOVE in the Ron Paul rEVOLution: "Dear friends, let us love one another, for love comes from God. Everyone who loves has been born of God and knows God. Whoever does not love does not know God, because God is love. This is how God showed his lo
.75% isnt gonna save us from
.75% isnt gonna save us from whats going on, it isnt USA related, its world related.
Ron Paul 2012
Are you kidding me!
This is great the banks and stock brokers can sleep easy....
Whewwww,
that was a close one ! Thank you Ben, for bailing out wall street once more. Luckily, there isn't any more bad news on the horizon, so we can safely assume we won't have to do this again. It's a good thing, frankly, I doubt if it would work the next time :p
[/sarcasm=off]
Bernanke needs another lecture
I think today would be a great day for Ron Paul to give Bernanke another public scolding.
Cutting the discount rate is
Cutting the discount rate is a sign of desperation to keep the banks solvent for the next 30 days. The FED rarely lowers the rate at the discount (or overnight inter-bank) rate and when they do it's rarely more than 25 basis points.
Their action today is a signal that they will bail out the banks at the expense of the dollar and the people.
If you haven't bought gold to protect yourself what else do you need to be convinced?
Ta,
Blog: The Present in Plain Text
Listen to The Myo-Tonics on YouTube
anything they do for the
anything they do for the next couple of days is only trying to buy people time to move assets to a safe haven. it will do nothing else. we are in deep do-do friends.
Whoopee! More inflation!
I love it when the money I have & earn is made worth(less) by our good friend helicopter ben.
It might help you
It might help you to have more time to bail out of dollars and into hard assets.
But NOTHING is going to save the economy now. Throwing more credit at it is only going to increase inflation.
What this does is foreshadow the panic and helplessness that is going to drive the government to hyperinflation.
There is a silver lining here, folks. We have all been going around saying "Wake up America" Well, nothing wakes people up like the deafening rumble of the American economy collapsing. It will be OUR job to make sure it gets put back together on the basis of free markets, sound money and private property. If we fail in that effort, well, use you imagination.
Sure
Inflation will rise. We'll be buoyed for a small amount of time until the recession reality really hits and banks start going bankrupt. If you heard yesterday on rprradio a bank in England went bankrupt and Goldman Sachs brokered a deal so that England ended up owning bonds on the mortgages for the Banks. This is their plan the banks will have runs on them, a Brokerage Firm (Goldman Sachs) will do an end run around eminent domain and your property will be given back to the government.
The main message from this is:
Don't make a late payment or the government won't even need to offer you money for your land, they'll take it and it'll be legal. Don't mean to scare you, but it actually is happening today.
http://killfiat.blogspot.com/
nope
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First President of the USA.
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