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My sister is a big wig with what was JP Morgan and now Chase. I had a years warning on the real estate bust. Tried to warn a couple of folks we know who were a real estate broker agent team "leveraging" their homes to buy more homes to get out fast. Was laughed at and was told just watch....real estate will continue to climb.
They ended up losing everything....their real estate business, their homes, cars, and pretty much all their assests.
When I talk to my sister about the financial state of the world, she tells me it is bad but not to the point of failing.....yet. She keeps the family pretty well informed so I am thinking I would have months of advance notice.
But like the real estate bust....will anyone listen when I try to warn them?Bring hay for my horse....wine for my men....and mud for my turtle!
What do you hear ???...... Nothing but the rain. Well grab your gun and bring in the cat.
"A fear of weapons is a sign of retarded sexual and emotional maturity."
- Sigmund Freud
Originally posted by ar15barrelsIt makes it bigger and longer.
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"Did I say "republic?" By God, yes, I said "republic!" Long live the glorious republic of the United States of America. Damn democracy. It is a fraudulent term used, often by ignorant persons but no less often by intellectual fakers, to describe an infamous mixture of socialism, miscegenation, graft, confiscation of property and denial of personal rights to individuals whose virtuous principles make them offensive." - Westbrook PeglerComment
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Of Course
Yes of course, they over spent, pensions kicking in 2/3rds of a persons wages at age 50, social services free and easy no doubt....but I was talking about a hard asset that people there could have used to weather this storm. I'm not saying they should have sold the gold for Euro's and distributed the Euro's - they should have distributed the gold. Now they have nothing.
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See I'm in a weird bind on the dollar, Too much cash!
Fed Pension kicks in in 2013, $175K in CD, $150K in Deferred Comp, $10K in savings, $25K in savings bonds, House almost paid, no credit card debt, no car payments...
Sooo...I'm tied into a stable dollar in a big way...Too close to retirement to try risky conversions!TURNING and turning in the widening gyre
The falcon cannot hear the falconer;
Things fall apart; the centre cannot hold;
Mere anarchy is loosed upon the world,
The blood-dimmed tide is loosed, and everywhere
The ceremony of innocence is drowned;
The best lack all conviction, while the worst
Are full of passionate intensity.
William Butler Yeats 1865-1939Comment
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all monetary systems loose value over time its just what way financing works if money ever trended the opposite direction there would be chaos
its easy to notice prices increase but that is due to the dollar loosing value
gold is a spiffy item it seems to keep its value constant to the surrounding inflation
like if you take a certain amount worth a gallon of milk and wait a few years i'm betting that it will still be worth a gallon of milk within pennies a decade laterComment
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