BAR wrote:
hk wrote:
BAR wrote:
HK wrote:
Short Wave Sportfishing wrote:
On Fri, 18 Jul 2008 06:56:15 -0400, HK wrote:

Short Wave Sportfishing wrote:
On Thu, 17 Jul 2008 20:54:29 -0400, HK
wrote:

Larry wrote:
JR North wrote in
:

What's this got to do with boating?
JR


Boats take vast sums of money to buy, or just sit there rotting
away at the $600/month marina slip. In order to HAVE boats,
some boaters have invested vast sums of money in securities
with various, previously-stable, banking institutions now on
the verge of collapse.

The solvency of the bank the "Boat Fund" is stored in is VERY
on-topic to a discussion about boat....unless you're Donald
Trump and sold your little house in Florida for $95,000,000
this morning to one of the Russian billionaires. Don wanted
$120,000,000 but had to take less to dump it.

By the way, the REAL ESTATE TAXES on Don's old house was quoted
on the radio at $16,830,000 PER YEAR....as of 2006. A "small
tax increase" could put the Russian's property taxes above the
GDP of several small African countries!

I think he screwed up....
We don't keep any significant liquid assets in any U.S.
financial institutions.
Harry, you are so full crap sometimes.

Honest to pete - do you even realise how stupid that statement is?

Or improbable?
Really? Please explain the "stupidity" or "improbability."
Be as specific as you can.

Thanks.

I can be as specific as you want, but if you have ANY major liquid
assets in a non-US based bank, you automatically fall under
anti-terrorism quidelines for the movement of said funds and/or
interest in said funds that you claim every year on your tax return.

Assuming you file one that is.

I'd be very curious as to what "non-US" bank you think is financially
sound where you don't get killed in exchange rates in moving "liguid"
assets around to make more money.

Which is the whole point of having liquid assets - to make more liguid
assets.

And I'm already tired of this discussion.

Sometimes Harry, words just can't define how stupid you sound.




You're a bit quick jumping to conclusions about facts you don't have.

Your assumption is that because we don't put most of our liquid eggs
in U.S. financial institutions, we must be putting them in foreign
financial institutions. That assumption is...wrong.

If it isn't a US financial institution it has to be a foreign
financial institution. Unless your definition of a financial
institution is different than 99.99999999% of the rest of the world.



One of the joys of this newsgroup is that so many of the "rightie"
posters here are so damned binary, and get so tied up by it.

This is the sentence under consideration:

"We don't keep any significant liquid assets in any U.S. financial
institutions."


All that sentence says is...what it says. It doesn't say an iota more
than what it says, yet several righties here have jumped to all manner
of conclusions based upon information not in play.

Typical for righties.

My wife and I have individual insured accounts up to the FDIC max, and
I have several PODs insured up to the FDIC max. Other than those
relatively minor sums and cash for ongoing household expenses,
everything else we have that might be considered "liquid" is NOT in
any U.S. financial institution. We both have liquid assets that can be
sold quickly and at appreciated values, and some "semi-liquid" assets
that take a bit longer to dispose of but also have increased greatly
in value.

Thus, so long as the U.S. government doesn't collapse (and that is a
possibility), our cash in insured institutions is safe, and our other
liquid assets are accessible.

You can't have an account insured up to the FDIC max. You account is
insured up to $100,000 or the accounts balance whichever is lower. If
you have more thank $100,000 in any one back you are not too smart.

You have stated previously that you don't own assets that are traded on
stock markets or commodities markets. How can your assets be liquid?

The fact that you have your money on deposit in FDIC covered accounts
means that you have money in US financial institutions. And, if you hold
bonds than you have money invested in a US financial institution, the US
treasury.

Nice try.

WAFA is clearly full of **** as his narcissism has taken him to another
level. His wife would puke if she read this ****.