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


Gold has been highly valued for thousands of years. If there is a
general collapse, it will be something easily traded for valuable goods
and services.

"hk" wrote in message
...
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


Gold has been highly valued for thousands of years. If there is a general
collapse, it will be something easily traded for valuable goods and
services.


What's the smallest denomination you can buy these days?

wrote:
On Wed, 23 Jan 2008 11:31:17 -0500, Salmon Bait
wrote:

Actually I prefer having money 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.
--

What is so hard about the "record keeping"? My accounts all get
separate statements anyway, even if they are in the same bank.
It is actually pretty hard to stay diversified when the big fish are
eating the little fish. I know some bankers who say one day there may
only be one big bank and the Federal Reserve.


Sigh. When we lived in FL, I did business with Barnett Bank. Friendly
place, easy to deal with. Then it was bought out by three or four
successive "national" banks, and service went down, down, down each
time. Now the survivors are owned by Bank of America, the worst of them
all. We keep a few bucks there because BofA's teller machines are just
about everywhere in the states, and we can access them with no fees. But
for more typical banking services, we use an affinity federal credit
union. Much more friendly people, locally managed, and accommodating,
and they're in business to serve, not to turn the most bucks possible,
uber alles.

"Short Wave Sportfishing" wrote in message
...
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.


Yup. And it's good for you. Sorry for the repeat, but sometimes I forget
who I told what.

Eisboch

On Wed, 23 Jan 2008 12:54:40 -0500, hk wrote:

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


Gold has been highly valued for thousands of years. If there is a
general collapse, it will be something easily traded for valuable goods
and services.

What are you, a survivalist?
Hey, I'm not going to do it. You don't take my VISA, you can jump in
the lake. If things get where you're talking about, I'll team up with
the neighbors, form a tribe, build a fire and roast some marshmallows.
Won't need gold. Just marshmallows. And maybe some brats.

--Vic

hk wrote:
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


Gold has been highly valued for thousands of years. If there is a
general collapse, it will be something easily traded for valuable goods
and services.

Guess again, according to the Economist Robert Carrol, PHD, you are wrong.
"If people were stranded in some remote location without food, water,
and shelter, a mountain of gold would serve no more purpose than so much
sand. It would have no price. Gold has no intrinsic value."

Anyone with any economic background would see the fallacy of your
arguement immediately. I am using Robert Carrols quote to verify my
position.

http://landru.i-link-2.net/monques/goldx2.html

A pseudo-legal argument is sometimes advanced by advocates of gold money
that a debt cannot be paid with another debt. This is semantic
deception. A debt can be paid with anything that is acceptable to the
payee. In addition, as long as debt in the form of deposit entries in
bank accounts or Federal Reserve Notes can be exchanged for real goods
and services, the payee is just as well off as if he had received little
lumps of metal. Further, the multi-trillion dollar world economy runs
almost exclusively on exchange of debt-money which only consists of
numbers in deposit accounts at banks.

A common argument for gold money that accompanies the pseudo-legal
sophistry is that gold has "intrinsic value," another semantic
deception. Gold has interesting intrinsic properties such as chemical
stability and excellent electrical conductivity, but "intrinsic value"
is a semantic error if not outright doublespeak. Value(1) is a
subjective judgment and cannot be rationally thought of as intrinsic.
Subjectivity is exclusively a product of human minds. "Intrinsic value"
is a deceptive euphemism for price.

If people were stranded in some remote location without food, water, and
shelter, a mountain of gold would serve no more purpose than so much
sand. It would have no price. Gold has no intrinsic value. It merely has
a price which is the result of complex factors associated with its
subjective price value compared to other commodities. Industrial
usefulness of gold as well as human subjectivity that desires gold for
personal adornment, etc., does assure that gold will fetch a price in a
modern market. But what price?

Vic Smith wrote:
On Wed, 23 Jan 2008 12:54:40 -0500, hk wrote:

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

Gold has been highly valued for thousands of years. If there is a
general collapse, it will be something easily traded for valuable goods
and services.

What are you, a survivalist?
Hey, I'm not going to do it. You don't take my VISA, you can jump in
the lake. If things get where you're talking about, I'll team up with
the neighbors, form a tribe, build a fire and roast some marshmallows.
Won't need gold. Just marshmallows. And maybe some brats.

--Vic

If you are only eatting Marshmellows, you may need some Ex-Lax, so make
sure you bring enough gold to trade for Ex-Lax

JoeSpareBedroom wrote:
"hk" wrote in message
...
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

Gold has been highly valued for thousands of years. If there is a general
collapse, it will be something easily traded for valuable goods and
services.


What's the smallest denomination you can buy these days?



I have no idea. I just buy Krugerrands and Canadian Maple Leafs in the
one troy ounce of gold size, but I think you can buy Krugerrands in
1/10th ounce and other sizes. The Maple Leafs are "purer," if you will.
Both are recognized and accepted anywhere. The face value is not really
relevant, just the weight in troy ounces. I started "collecting" them in
1992, when they became "legal" again.

Try www.monex.com if you want to learn a bit about gold, silver and
other "valuable" metal coins.

Vic Smith wrote:
On Wed, 23 Jan 2008 12:54:40 -0500, hk wrote:

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

Gold has been highly valued for thousands of years. If there is a
general collapse, it will be something easily traded for valuable goods
and services.

What are you, a survivalist?
Hey, I'm not going to do it. You don't take my VISA, you can jump in
the lake. If things get where you're talking about, I'll team up with
the neighbors, form a tribe, build a fire and roast some marshmallows.
Won't need gold. Just marshmallows. And maybe some brats.

--Vic


No, I'm not a survivalist. I started buying Krugerrands about 15 years
ago as a "hedge" and I simply buy some more from time to time. While I
do expect this country to collapse into class warfare, I don't believe
it will happen in my lifetime, though I think the time is getting closer
as the gap between the "haves" and "have nots" widens.

I'm sure my heirs will enjoy inheriting my Krugerrands and Canadian
Maple Leaf gold coins. What they do with them is...up to them.

I keep one of each in the house. The rest of kept...elsewhere. :-)

On Wed, 23 Jan 2008 13:12:16 -0500, "Reginald P. Smithers III"
"Reggie is Here wrote:

Vic Smith wrote:
On Wed, 23 Jan 2008 12:54:40 -0500, hk wrote:

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

Gold has been highly valued for thousands of years. If there is a
general collapse, it will be something easily traded for valuable goods
and services.

What are you, a survivalist?
Hey, I'm not going to do it. You don't take my VISA, you can jump in
the lake. If things get where you're talking about, I'll team up with
the neighbors, form a tribe, build a fire and roast some marshmallows.
Won't need gold. Just marshmallows. And maybe some brats.

--Vic

If you are only eatting Marshmellows, you may need some Ex-Lax, so make
sure you bring enough gold to trade for Ex-Lax

That's why I added brats. But I'll just trade some marshmallows to
get the brats. Don't need gold. Unless I run out of marshmallows.

--Vic