A Better Idea
For those who want to hedge against inflation, there is a much better buy out there than gold.
You know, gold isn't the only commodity in the world. There is a MUCH better way to let our displeasure be known. Why not start buying real estate? You can buy real estate now for 70 cents on the dollar or less. When you do, you will probably get leverage of 10 to 1 - meaning for every 1000 you invest, you get the profits from 10,000. Further, your purchase will be financed in those exceedingly valuable Federal Reserve Notes at a fixed rate of interest only a point or two above our OFFICIAL inflation rate. Other people buy you a free building, you get some money every month and the central bank is left holding a 30 year sheaf of FRNs that will be worth about as much as a really big hamburger at a good restaurant. Further, the tax breaks you will get from renting it out can make it so you pay no taxes - LEGALLY.
Our presence as members of the Republican Party as well as our ability to influence people are directly affected by the amount of money we can afford to spend. This battle won't be over this year or the next, even if Ron is elected. Now is the time to acquire real property - both as safe store of value for the coming storm and as a creator of wealth which can be contributed to the effort? Would you have contributed more to the effort if you had had the money available? If it didn't mean you wouldn't eat next week? I think so. Also, we just encourage those people by giving them money. The tax code makes it perfectly possible for people of ordinary means to not pay taxes - all that is required is that you own real estate which you rent for a profit.
Please recirculate this message as much as possible. I can be contacted at lnardozi at cox dot net, I can give advice but I'm not selling anything and I don't want anything from you. I've already done this, I'm just passing the idea along to you so you can profit too.
congress
I think that it's a strong possibility that Congress will allow the banks to change the mortgage contracts and allow them to change the payment, payoff amount and interest rate to reflect inflation. Uh oh.
I definitely agree that
I definitely agree that getting into real estate is a good idea. I must warn, though, that I fully expect the dollar price value of houses to continue to decline for the forseeable future. I advise getting the real estate as a strategic move for future wealth.
Because it will get a lot cheaper soon...
Only if you are buying wholly owned rental income properties. Read Melgesman's dissertation. $.70 on the dollar is no where near as cheap as it will be if you wait two years. Put you money into gold and silver and wait...just wait. Kiyosaki agrees.
I respectfully disagree
Because there is no mention of leverage in your post. I can control ten dollars worth of real estate by spending one dollar. If I make 1% profit, that 1% is multiplied by 10. Cash on cash returns of 30% are not unreasonable for a properly selected property.
A dollar's worth of gold is a dollar's worth of gold - gold doesn't do anything and therefore you can't make money with it without spending it.
Real estate also provides rental income if it is chosen correctly.
Its intrinsic value is only of interest when you're selling it - hopefully to buy more real estate.
The important thing when selecting real estate is - does it rent for more than the mortgage payments and other expenses?
Long ago, only landowners could vote. Even now all the laws, since they were created by landowners favor landowners.
But the best thing of all is - you get the property and the central bank gets worthless federal reserve notes.
Don't think you can't do it - I was destitute 7 years ago and now I control ~ 1M worth (5 properties) and I pay no tax LEGALLY.
Saving the world one post at a time!
Where is this "Melgesman's
Where is this "Melgesman's dissertation" ? I've seen it referred to a few times on DP but was unable to find it anywhere online. Please post a link. Thanks.
...