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Thread: So, for those with big cash in the bank.... what ..

  1. #31
    Quote Originally Posted by fr33 View Post
    3 years vs 7 years.
    So no one told you when to sell?
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  3. #32
    Quote Originally Posted by Danke View Post
    So no one told you when to sell?
    Of course not. It's the agenda for sites like this one to always promote either precious metals or bitcoin whether or not losing value is a real threat. There are people on this very thread still giving bad advice.



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  5. #33
    Quote Originally Posted by fr33 View Post
    I wouldn't ask this forum. In 2008 they would have told you to withdraw all that cash and inevitably lose a portion of it in precious metals.
    I guess you don't realize how much it's monitored and how much you pay in taxes.
    Those who want liberty must organize as effectively as those who want tyranny. -- Iyad el Baghdadi

  6. #34
    Quote Originally Posted by Danke View Post
    2008 to 2011' you would have done well.
    2008- gold was about $850 an ounce. Today it is currently is $1170- a gain of $320 an ounce or 38%. Nice gain.

    Dow Jones 2008 was about 12,000. Today it is 17,730- a gain of 5,730 or 48%.

    (I used January for both 2008 figures- DOW continued to decline until March 2009 at 6,600)
    Last edited by Zippyjuan; 07-05-2015 at 02:56 AM.

  7. #35
    Quote Originally Posted by Lord Xar View Post
    Curious -- for those with a large amount of cash in the bank ... should they be worried with what is happening in Greece?

    I imagine, whats the dominoes start falling -- the market will be up for grabs, wholesale.... good time to invest/buy... but, if there is liquid sitting in a bank, lets say Citi or BoA etc.... should we be worried, or just prepared to get it out.

    I ask because it seems one has to "call" there bank and set up an appointment to remove anything greater than 10k and above etc.. you can't just go in and take out your money etc...
    Forget Greece; people should have gotten the wake up call after Cyprus.

    Anyone holding large cash reserves in a bank is a fool, IMNSHO. If Greece gets away with this 30% haircut dealio, and I am fairly confident that they will, it will set a global precedent that other governments will have little to no incentive not to follow. Think about it, at that rate, literally 1/3 of the world not held by Themme could be taken into Theire custody almost literally over night. Once that tidal wave gets its momentum up there will be no stopping it, short of shooting, and even that is unlikely to have the desired effects.

    Just think about it a minute - the vast majority of "money" out there in the world is not hard cash, but bits on a stupid computer. Regardless, "money" is basically a POTENTIAL CLAIM on real assets, yet to be realized. All the assets are already on the planet, in one form or another. If someone makes these potentially competing claims for real things miraculously disappear with the press of a computer key, the competition is reduced by at least that proportion, thereby enriching holders by the same proportion, not in terms of phony baloney bits, but REAL STUFF. It is a nearly perfect swindle because most people will not perceive it as such, but rather as an unpleasant reality that had to happen because of irresponsible spending, "greed", or whatever other baloney is fed them. Besides, other than Americans, who is materially able to do anything about it? Will the Greeks get out their huge caches of firearms and bring their evil governors to justice? Would France? Britain? Sweden (HA HA HA HA HA HA HA HA... Sweden... that's rich...)? Even the Americans are not very likely to do so, and they have the means in great abundance.

    As has been my growing habit of these past 10 years or so, I watch in what is rapidly becoming ever more numbèd amazement, the seemingly impossible tolerance for abuse that people hold. All sense appears to have fled the race such that men will now literally sit idle as their destructions are brought to piecemeal reality in the manner of frogs in pots of water over fires. This is like the greatest film drama of all time in an IMAX-on-ultra-steroids theater... like the "feelies" in Brave New World. But the drama is running a bit long in tooth now and the time for a punchline is past due. But what shall it be? Stay tuned.

    Get your cash out of the bank and into something real. PMs are probably a good avenue, but I've seen too much hanky panky there to be quite fully confident in them. Besides, the "state" has such utter control over the minds of the average man that even if things turn to poo and the "government" declares PMs to be invalid as media of exchange, I fear that the average nitwit will simply toe whatever line of impossibly misbegotten nonsense Theye mandate... likely involving turning that gold in to be exchanged for the "new" dollar, which due to fiat will be the only thing that will get you fed at the end of the day.

    We really do need that meteor strike. 1/2
    freedomisobvious.blogspot.com

    There is only one correct way: freedom. All other solutions are non-solutions.

    It appears that artificial intelligence is at least slightly superior to natural stupidity.

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  8. #36
    Quote Originally Posted by osan View Post
    Forget Greece; people should have gotten the wake up call after Cyprus.

    Anyone holding large cash reserves in a bank is a fool, IMNSHO. If Greece gets away with this 30% haircut dealio, and I am fairly confident that they will, it will set a global precedent that other governments will have little to no incentive not to follow. Think about it, at that rate, literally 1/3 of the world not held by Themme could be taken into Theire custody almost literally over night. Once that tidal wave gets its momentum up there will be no stopping it, short of shooting, and even that is unlikely to have the desired effects.

    Just think about it a minute - the vast majority of "money" out there in the world is not hard cash, but bits on a stupid computer. Regardless, "money" is basically a POTENTIAL CLAIM on real assets, yet to be realized. All the assets are already on the planet, in one form or another. If someone makes these potentially competing claims for real things miraculously disappear with the press of a computer key, the competition is reduced by at least that proportion, thereby enriching holders by the same proportion, not in terms of phony baloney bits, but REAL STUFF. It is a nearly perfect swindle because most people will not perceive it as such, but rather as an unpleasant reality that had to happen because of irresponsible spending, "greed", or whatever other baloney is fed them. Besides, other than Americans, who is materially able to do anything about it? Will the Greeks get out their huge caches of firearms and bring their evil governors to justice? Would France? Britain? Sweden (HA HA HA HA HA HA HA HA... Sweden... that's rich...)? Even the Americans are not very likely to do so, and they have the means in great abundance.

    As has been my growing habit of these past 10 years or so, I watch in what is rapidly becoming ever more numbèd amazement, the seemingly impossible tolerance for abuse that people hold. All sense appears to have fled the race such that men will now literally sit idle as their destructions are brought to piecemeal reality in the manner of frogs in pots of water over fires. This is like the greatest film drama of all time in an IMAX-on-ultra-steroids theater... like the "feelies" in Brave New World. But the drama is running a bit long in tooth now and the time for a punchline is past due. But what shall it be? Stay tuned.

    Get your cash out of the bank and into something real. PMs are probably a good avenue, but I've seen too much hanky panky there to be quite fully confident in them. Besides, the "state" has such utter control over the minds of the average man that even if things turn to poo and the "government" declares PMs to be invalid as media of exchange, I fear that the average nitwit will simply toe whatever line of impossibly misbegotten nonsense Theye mandate... likely involving turning that gold in to be exchanged for the "new" dollar, which due to fiat will be the only thing that will get you fed at the end of the day.

    We really do need that meteor strike. 1/2
    And I don't trust land investment either. Let's face it, if the Feds need money and assets; they can seize anything or tax the hell out of anything to get it. Just look at the millions of illegal foreclosures conducted in the U.S. since 2009 using falsified documents to obtain foreclosure judgements. Then Fannie Mae (The U.S. Government) sold the majority of these illegal foreclosures to foreign banksters for half the value. Once they got caught, a huge lawsuit was settled and those homeowners with fraudulent foreclosures received a check for $500. or $600. for their inconvenience. Of course their homes and down payments were gone. But that's our Government for ya.

  9. #37
    Quote Originally Posted by fr33 View Post
    Of course not. It's the agenda for sites like this one to always promote either precious metals or bitcoin whether or not losing value is a real threat. There are people on this very thread still giving bad advice.
    Focus on breaking the mind-control conditioning of thinking the "value" of gold is found in an imaginary and flexible unit of measure called a "dollar". Ron Paul alluded to this in several of his House hearings with Bernanke. Do you think central bankers look at an oz of gold and think "That's worth $1200 dollars!"? No, they "value" gold on an entirely different scale than laypeople do. In fact, central bankers don't even value gold in monetary units, they value it in comparison to things like oil. How many barrels of oil can an oz of gold buy? The setting of spot price is to facilitate trade like gold for oil, not gold for dollars. The dollar just happens to be the intermediary unit of measure....for the moment. And it's not going to last much longer.

    Refresher:




    Gold can be revalued overnight. The change in dollar value is a side effect of the revaluation of gold (it's purpose or use) in global finance, it is not the revaluation itself.
    Last edited by devil21; 07-05-2015 at 02:46 PM.
    "Let it not be said that we did nothing."-Ron Paul

    "We have set them on the hobby-horse of an idea about the absorption of individuality by the symbolic unit of COLLECTIVISM. They have never yet and they never will have the sense to reflect that this hobby-horse is a manifest violation of the most important law of nature, which has established from the very creation of the world one unit unlike another and precisely for the purpose of instituting individuality."- A Quote From Some Old Book

  10. #38
    Central banks don't put a value on gold. The US Fed does not care what the price of gold even is (especially since a) they don't own any and b) the value of the dollar is not backed by the value of gold. They do look at a broad measure of prices to determine overall price inflation. They also don't really care how many barrels of oil an ounce of gold will buy. They do keep an eye on the price of oil (in terms of dollars not in terms of gold) because that can effect the prices of many other things which use oil products as inputs.

  11. #39
    It appears Zippy is relegated to various versions of "is not!" / "is too!" empty arguments these days.

    Focusing on the "dollar value" of gold is how people miss the big picture and get sheared again. Think like a banker and then you can start to understand how (and the WHY, which is actually more important because it reveals the cycles of the 'game') to protect your fruits. You wouldn't sit down to gamble at a casino game of which you don't know the rules. Why do it outside of a casino? Go with the proven.
    Last edited by devil21; 07-05-2015 at 08:02 PM.
    "Let it not be said that we did nothing."-Ron Paul

    "We have set them on the hobby-horse of an idea about the absorption of individuality by the symbolic unit of COLLECTIVISM. They have never yet and they never will have the sense to reflect that this hobby-horse is a manifest violation of the most important law of nature, which has established from the very creation of the world one unit unlike another and precisely for the purpose of instituting individuality."- A Quote From Some Old Book

  12. #40
    Quote Originally Posted by devil21 View Post
    It appears Zippy is relegated to various versions of "is not!" / "is too!" empty arguments these days.

    Focusing on the "dollar value" of gold is how people miss the big picture and get sheared again. Think like a banker and then you can start to understand how (and the WHY, which is actually more important because it reveals the cycles of the 'game') to protect your fruits. You wouldn't sit down to gamble at a casino game of which you don't know the rules. Why do it outside of a casino? Go with the proven.
    I don't agree with him on many things, but I do like to hear his opinion. None of us have all the answers.
    Those who want liberty must organize as effectively as those who want tyranny. -- Iyad el Baghdadi



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  14. #41
    Quote Originally Posted by Lord Xar View Post
    Do you mean when things "do crash", then investing at wholesale prices? I can't see investing "more" before the crash -- I"d just lose that, right?
    I don't think Greece will cause a crash, but I'd expect markets to drop a few points. Values of certain US-based things may actually go up instead of down, as people move their money away from 'risky' European investments to 'safe' American investments.


    Fidelity is fine. Index funds are your friend.

  15. #42
    Quote Originally Posted by TheCount View Post

    Fidelity is fine. Index funds are your friend.


    Why are they my friend?
    "Let it not be said that we did nothing."-Ron Paul

    "We have set them on the hobby-horse of an idea about the absorption of individuality by the symbolic unit of COLLECTIVISM. They have never yet and they never will have the sense to reflect that this hobby-horse is a manifest violation of the most important law of nature, which has established from the very creation of the world one unit unlike another and precisely for the purpose of instituting individuality."- A Quote From Some Old Book

  16. #43
    Quote Originally Posted by Zippyjuan View Post
    The US Fed does not care what the price of gold even is (especially since a) they don't own any...
    Quote Originally Posted by Jamesiv1 View Post
    So who actually OWNS all that gold?

    Photo of the basement of the Federal Reserve of New York. ^

    Possession, so they say, is 9/10ths of the law...
    Last edited by acptulsa; 07-06-2015 at 07:07 AM.
    Quote Originally Posted by Swordsmyth View Post
    We believe our lying eyes...

  17. #44
    Quote Originally Posted by devil21 View Post


    Why are they my friend?
    They're inexpensive and less risky than managed funds.

  18. #45
    Quote Originally Posted by TheCount View Post
    They're inexpensive and less risky than managed funds.
    More precisely: they do not have the risk that the manager of the fund will make decisions resulting in it under-performing the overall stock market. That risk essentially does not exist in an index fund, or is very, very small because it would require the management to do some very unethical, very illegal things contravening the clear rules of the fund and betraying their fiduciary responsibilities.

    An index fund is set up in such a way that it matches the performance of the index that it tracks, minus a fee for running the fund, which, as TheCount points out, is usually (and hopefully!) small. This means that the fund has no risk of under-performing the index minus the fee (apart from the exceedingly unlikely scenario mentioned above, of breaking the rules of the fund and, what's even more unlikely, getting away with it). It also means that the fund has no potential of over-performing, of doing even better than the index.

    Index funds still have many other risks. They will perform badly in some economic situations, such as recession, depression, and runaway inflation.

  19. #46
    Index funds still have many other risks. They will perform badly in some economic situations, such as recession, depression, and runaway inflation.
    As will any stock fund. The biggest benefit of index funds is their low cost. Costs reduce returns. Aside from DRIPs (Dividend Re-Investment Plans), they are the lowest cost way to invest in stocks. And they outperform the average non- index fund. How? That costs thing. The average stock fund will get the average return. But then you start subtracting off costs. Sales costs. Transaction fees- the more they trade stocks, the more transaction fees get added on. Index funds don't trade. They buy and hold (except to meet redemption needs). Capital gains taxes. Since index funds are not actively traded, you don't get near the capital gains reported each year so you aren't taxed on those. Add in all those costs and there is no way for the average traded fund to always beat out an index fund.

    Since no fund can consistently out-perform the market, average is realistically the best you can achieve over the long run. Yes, there will be funds beating the index this year. But next year they may not be if the stocks which were hot last year and upped their returns are not popular this year. The index fund holds all of the stocks in the index- it doesn't try to pick which will do better.

    Not as exciting as active trading but better in the long run.

  20. #47
    Quote Originally Posted by TheCount View Post
    They're inexpensive and less risky than managed funds.
    Are they managed by that nice young Corzine boy from New Jersey?
    "Let it not be said that we did nothing."-Ron Paul

    "We have set them on the hobby-horse of an idea about the absorption of individuality by the symbolic unit of COLLECTIVISM. They have never yet and they never will have the sense to reflect that this hobby-horse is a manifest violation of the most important law of nature, which has established from the very creation of the world one unit unlike another and precisely for the purpose of instituting individuality."- A Quote From Some Old Book

  21. #48
    One big reason why some of us have "big" cash in the bank is because we sold real estate and/or are looking to buy a house or property in the near future. Please tell me how to send the several hundred thousand dollars required to the title company without using a bank.

    The best we can do is use a smaller local bank that is highly rated for safety and holds higher cash reserves than the big guys like Citi and Wells. I'd rather have the money in the property itself, but haven't found the right house yet.



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