hk wrote:

Anyone hoarding gold in case of societal collapse will have something
heavier than a GLOCK pointing back at you.

Yep, "Charity Harry" at his best.

'I've got mine, screw you.'

-- Charlie

On 23 Jan 2008 04:12:40 GMT, "John Q. Public" wrote:

In message , Vic Smith is
alleged to have said:

On 22 Jan 2008 22:33:36 GMT, "John Q. Public" wrote:

In message , Vic Smith
is alleged to have said:

FDIC is not a panacea for investing or any sort of risk/reward
arbitrage. Its looks good, but it's only so much per depositor - for
any real money, you'd have to have seperate accounts at seperate
banks which can be a nightmare - in particular if you don't actively
manage the accounts.

And it's only good for $100K per.

No. For IRA's it's 250k.
http://www.fdic.gov/deposit/deposits...standings.html

If your bank is a part of FHLBS, it's zero.

http://www.fdic.gov/about/learn/advi..._advances.html

The FHLBs have a "super lien" when institutions fail. To protect their
position they have a claim on any of the additional eligible collateral
in the failed bank. In addition, the FDIC has a regulation that
reaffirms the FHLBs priority and the FHLBs can demand prepayment of
advances when institutions fail.

You're misunderstanding the roles and purposes of the FDIC and FHLB's.
Suffice it to say you're wrong.

OK Dr. Bernanke, whyza donna choo 'splain it fo' us ignrnt masses?

Ain't no ignorant masses. You're the only one who said the above.
To keep it simple, just read this
http://www.fdic.gov/deposit/deposits...its/index.html
The first para states:
"If your insured bank fails, FDIC insurance will cover your deposits,
dollar for dollar, including principal and any accrued interest, up to
the insurance limit."
There are no gotchas, unless the gov itself fails.

I won't discuss FHLBS except to say it's a gov chartered org designed
to move money around to lenders who need it to finance loans.
This stuff is boring as hell, and the main reason I retired early to
get away from accountants. I'm far from an expert on it, but do read
pretty well.
What set you astray was seeing "super lien" but not seeing "additional
eligible collateral in the failed bank" in your quote above.
And it seems you don't know that the FDIC collects insurance premiums
from banks and has funds to pay claims.
The FDIC pays insured depositors to the insurance limit with FDIC
funds, then they can squabble with the FHLB over who gets the
"additional eligible collateral in the failed bank."
I don't know why you chose your false interpretation.
But it sounds like you're trying to scare old people.
Didn't work with me!
Just gave me something to do instead of cleaning the garage!
NA-NA-NA-NA-NANA

--Vic

wrote:
On Tue, 22 Jan 2008 14:58:00 -0400, "Don White"
wrote:

wrote in message
...
snip...
Rudy is just Hillary in a dress, I doubt he makes it past
Florida.

Say what? Rudy wears dresses???
You wacky 'mericans.........


You haven't seen those tapes? Rudy has showed up at least twice in
drag, maybe more.
As Eric Idle says "Once a philosopher, twice a pervert"


I'm no fan of Rudy, but better a pervert in the white house than the
mindless doof in there now.

"hk" wrote in message
...
wrote:
On Tue, 22 Jan 2008 14:58:00 -0400, "Don White"
wrote:

wrote in message
...
snip...
Rudy is just Hillary in a dress, I doubt he makes it past
Florida.

Say what? Rudy wears dresses???
You wacky 'mericans.........

You haven't seen those tapes? Rudy has showed up at least twice in
drag, maybe more.
As Eric Idle says "Once a philosopher, twice a pervert"


I'm no fan of Rudy, but better a pervert in the white house than the
mindless doof in there now.


Some idiots latched onto this situation and tried to make something out of
it until they realized the backlash would be troublesome:

http://findarticles.com/p/articles/m...11/ai_78265968

On Wed, 23 Jan 2008 11:16:09 -0500, wrote:

On Tue, 22 Jan 2008 15:33:47 -0500, Salmon Bait
wrote:

FDIC is not a panacea for investing or any sort of risk/reward
arbitrage. Its looks good, but it's only so much per depositor - for
any real money, you'd have to have seperate accounts at seperate banks
which can be a nightmare - in particular if you don't actively manage
the accounts.

And it's only good for $100K per.

Depending on the way they're set up, it's possible to have multiple CDs
totally several hundred thousand in the same institution, all insured.
--
John H

Actually I prefer having m,oney spread out across several banks, If
nothing else, it is easier to "fire" one that isn't treating you right
if you have another bank you can swap into.

I'm down to two. It makes record keeping much easier.
--
Red Herring

On Wed, 23 Jan 2008 10:09:02 -0500, "Eisboch" wrote:


"Short Wave Sportfishing" wrote in message
.. .


If I had to do it over again, I would have gotten involved in
renovating properties, holding them as rentals and sold on a six year
cycle when I first retired.

It's an amazing money maker.

One of the best "investments" we've made is holding the mortgage on a house
we bought a few years back then sold it to a young, but very responsible
couple who were looking for their first house purchase. They didn't have a
credit track record sufficient to qualify for a mortgage loan from a bank at
the time, but we knew them well and trusted their commitment to make the
monthly payments. It's been over five years now and they have never been
even a day late with the monthly payments.

Works out good for both parties. They get to build equity in a house and we
make the interest that a bank would normally get (plus the difference
between what we paid for the house and what we sold it to them for). We
wrote the agreement such that they can elect to re-mortgage at any time with
a bank (outstanding principle paid to us), or we can "sell" the mortgage to
a commercial lender at any time.

The last time we talked about this, I looked into it, convinced Mrs.
Wave because we had a similar situation with one of our tenants.

It's been six months and it's working out just fine. Frankly, I was
surprised, but there's really no risk (other than being a bank that
is), they had a good deposit and we're getting 1 1/2 payments every
month - sometimes twice a month.

They are really serious about paying it down quickly so they can
refinance in a couple of years with some built in equity.

Good for them.

wrote:
On Tue, 22 Jan 2008 21:34:38 -0500, hk wrote:

Gold has a bit of history as a valuable item. Beads, too. Paper?
No thanks.


You should own a bag or two of silver coins if you are looking for
hard money. It is hard to make change for a Krugerrand when you are
buying groceries

While gold and silver can be a valuable hedge against inflation or a
server recession and/or depression, it would have no value if there was
a complete breakdown in government and society. Barter for real goods
and services would be the new coin. Gold only has value if people
believe it has value, the same as with our paper money.

As with most of Harry's investment and economic advice, it is based upon
half baked ideas.

On Wed, 23 Jan 2008 12:22:00 -0500, "Reginald P. Smithers III"
"Reggie is Here wrote:

wrote:
On Tue, 22 Jan 2008 21:34:38 -0500, hk wrote:

Gold has a bit of history as a valuable item. Beads, too. Paper?
No thanks.


You should own a bag or two of silver coins if you are looking for
hard money. It is hard to make change for a Krugerrand when you are
buying groceries

While gold and silver can be a valuable hedge against inflation or a
server recession and/or depression, it would have no value if there was
a complete breakdown in government and society. Barter for real goods
and services would be the new coin. Gold only has value if people
believe it has value, the same as with our paper money.

Whoa. You're saying my VISA card won't work. Even the platinum?
Oh ****.

--Vic

Vic Smith wrote:
On Wed, 23 Jan 2008 12:22:00 -0500, "Reginald P. Smithers III"
"Reggie is Here wrote:

wrote:
On Tue, 22 Jan 2008 21:34:38 -0500, hk wrote:

Gold has a bit of history as a valuable item. Beads, too. Paper?
No thanks.

You should own a bag or two of silver coins if you are looking for
hard money. It is hard to make change for a Krugerrand when you are
buying groceries
While gold and silver can be a valuable hedge against inflation or a
server recession and/or depression, it would have no value if there was
a complete breakdown in government and society. Barter for real goods
and services would be the new coin. Gold only has value if people
believe it has value, the same as with our paper money.

Whoa. You're saying my VISA card won't work. Even the platinum?
Oh ****.

--Vic

In the complete breakdown of goverment and society, your Gold and
Platinum Visa cards would still work, they rest of them would be
useless.

Try to use a pressure cooker, it will help to tenderize them.

wrote:
On Tue, 22 Jan 2008 20:30:55 -0500, hk wrote:

Under a worse case scenario, the only thing you are going to be able to
do with an ETF is wipe your butt.

Do I think this country is going to come apart at the seams and devolve
into a violent revolution? You betcha. Maybe not in my lifetime, but the
devolution is a lot closer than I ever thought it will be. Real gold
will smooth the way of some of the survivors.

If you are looking for a hard asset, I have a transferable Norell
conversion 1022 that has appreciated 10x in about as many years and it
would be quite handy after the revolution. I have heard folks say in a
real meltdown .22RF ammo might be the new currency


I dunno; I can get into enough trouble without an autofire rifle. :-)