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Thread: Gold and Insurance scam

  1. #1

    Gold and Insurance scam

    When you take insurance policy, you pay $200 or $1000 per month as premium.

    Other way, you do not take insurance and with the same money ($200 or $1000/month) you can buy Gold. Gold is safe haven and an insurance policy itself.

    Gold price goes up +15% or more in a year.

    Actually, financial world is a giant scam when there is always Gold as the safest investment.

    Think about it.



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  3. #2
    My father got 40% interest for his life insurance after 14 years. At age 65, my father would walk 5 kilometers in one go.

    Gold went up from $100/ounce to $400/ounce in those 14 years.

  4. #3
    In order to ensure Danke is properly insured I will store all of his gold for him . He lives in a kind of bad area .
    Do something Danke

  5. #4
    Gold goes up 15% a year?

    Insurance is placing a bet. You are betting that you will need paid by the insurance before you give them too much money. They are betting that you give them more money in premiums than they eventually pay out to you. And like Vegas, the house usually wins. Insure the things you can't afford to pay for yourself.


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  6. #5
    Quote Originally Posted by Itsback View Post
    When you take insurance policy, you pay $200 or $1000 per month as premium.

    Other way, you do not take insurance and with the same money ($200 or $1000/month) you can buy Gold. Gold is safe haven and an insurance policy itself.

    Gold price goes up +15% or more in a year.

    Actually, financial world is a giant scam when there is always Gold as the safest investment.

    Think about it.
    Didn't you say you were done with the forums and never coming back?

    I don't understand why you keep posting new threads.

  7. #6
    . Eleven fires . That was fun .
    Do something Danke

  8. #7
    It is a legitimate point . Insurance is for poor people . You insure what you do not yet own . New car or house on a loan from the bank because they require it. Other than that if you banked the monies in an emergency fund you spent on other insurance you could roll the dice and see if you could just pay cash for everything else that happens . Freedom of choice .
    Do something Danke

  9. #8
    Quote Originally Posted by oyarde View Post
    It is a legitimate point . Insurance is for poor people . You insure what you do not yet own . New car or house on a loan from the bank because they require it. Other than that if you banked the monies in an emergency fund you spent on other insurance you could roll the dice and see if you could just pay cash for everything else that happens . Freedom of choice .
    I am saying Example: You pay $500 insurance premium or you can buy $500 Gold and Gold goes up +15% in a year.

    Look at $500.



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  11. #9
    Quote Originally Posted by Itsback View Post
    I am saying Example: You pay $500 insurance premium or you can buy $500 Gold and Gold goes up +15% in a year.

    Look at $500.
    okay what happens if you pay $500 insurance premium and immediately die? how much is your gold going to be worth compared to your insurance policy?

    Youre leaving out the fact that part of the insurance premium is providing a death benefit. The correct course is to NOT buy life insurance as an investment and to only by term insurance. Buying any type of life insurance for investment purposes is such a bad investment that you're literally better off stashing cash under your mattress, so of course gold is a better investment vehicle... But only for the portion of the premium that is going towards the cash-value of the policy. You cant compare the entire premium and have an apples to apples comparison.

  12. #10
    Quote Originally Posted by Chester Copperpot View Post
    okay what happens if you pay $500 insurance premium and immediately die? how much is your gold going to be worth compared to your insurance policy? Youre leaving out the fact that part of the insurance premium is providing a death benefit. The correct course is to NOT buy life insurance as an investment and to only by term insurance. Buying any type of life insurance for investment purposes is such a bad investment that you're literally better off stashing cash under your mattress, so of course gold is a better investment vehicle... But only for the portion of the premium that is going towards the cash-value of the policy. You cant compare the entire premium and have an apples to apples comparison.
    My father got 40% interest for his life insurance after 14 years on maturity. At age 65, my father would walk 4 miles in one go. My father told me "I should not have taken the insurance".

    Insurance companies earn billions of dollars profit by putting fear in the minds of people. They are fear mongers. I am age 41. Never took any insurance. Income below taxation limit.

  13. #11
    Quote Originally Posted by Itsback View Post
    My father got 40% interest for his life insurance after 14 years on maturity. At age 65, my father would walk 4 miles in one go. My father told me "I should not have taken the insurance".

    Insurance companies earn billions of dollars profit by putting fear in the minds of people. They are fear mongers. I am age 41. Never took any insurance. Income below taxation limit.
    First of all, your father bought the WRONG KIND OF INSURANCE.. ANY INSURANCE THAT SAVES MONEY IS BAD. (Your father could have gotten the same life insurance for $100 a year and saved $400 each year and bought gold with it and had the best of both worlds.)

    However youre ignoring the fact that your father had death protection for those 14 years. I used to work in the life insurance field. I know real tragic stories for example one where a young couple took out a life insurance policy for the husband.. Wrote out a $20 check for a months worth of premium, and the husband went out that night and got run over by a truck. Family hadnt even had a policy issue yet but they still got a check for $250,000 for the policy amount.

    Your father is looking back now with 20/20 hindsight because he is still alive. What your father is basically saying is that had he known he was going to live he would not have bought the life insurance.. But he didnt know he was going to live and that is why he took the policy out in the first place.

    This lack of critical analysis on your part is something I have already discussed with you privately. And I have explained to you that the group of people on this board especially are critical thinkers and that the reason why nobody from here goes onto your website is because you talk alot of crap stories without any research..

    I have treated you with kid gloves in the past because there is a language barrier and I appreciate your chutzpah for wanting to be in your own business and do something successful....

    BUT...

    Other than as for entertainment...

    Your website is crap, the stories on your website are crap, you do no research on anything you put up and when presented with proof that your stories or videos are fake you go into denial mode on how youre the secret journalist bringing truth to the world, rather than look at evidence impartially.

    You are delusional.


    As Kevin O'Leary would say, Take that horrible website of yours out back to the woodshed and kill it.. Put it out of its misery.
    Last edited by Chester Copperpot; 03-10-2019 at 07:46 AM.

  14. #12
    I am convinced . I am all in on gold .
    Do something Danke

  15. #13
    Quote Originally Posted by Chester Copperpot View Post
    I know real tragic stories for example one where a young couple took out a life insurance policy for the husband.. Wrote out a $20 check for a months worth of premium, and the husband went out that night and got run over by a truck. Family hadnt even had a policy issue yet but they still got a check for $250,000 for the policy amount.
    if 500,000,000 people die/get killed in 5 years, financial world will crash (stock markets, banks etc..).

    1 out of 1000 planes/flights crash.

  16. #14
    Correction: 1 out of 500,000 flights (airplanes) crash.

    50,000 people are killed by snakes each year in India when India's population is 1,100,000,000 people.

    it could be 10 out of 10,000 people are killed in road accidents, snakes etc..

  17. #15
    Quote Originally Posted by Itsback View Post
    Correction: 1 out of 500,000 flights (airplanes) crash.

    50,000 people are killed by snakes each year in India when India's population is 1,100,000,000 people.

    it could be 10 out of 10,000 people are killed in road accidents, snakes etc..
    Whats your point? Nobody is forcing you to buy life insurance.. if you dont want it dont buy it.. i dont understand what youre arguing about.

  18. #16
    Quote Originally Posted by Itsback View Post
    Correction: 1 out of 500,000 flights (airplanes) crash.

    50,000 people are killed by snakes each year in India when India's population is 1,100,000,000 people.

    it could be 10 out of 10,000 people are killed in road accidents, snakes etc..
    Quote Originally Posted by Itsback View Post
    if 500,000,000 people die/get killed in 5 years, financial world will crash (stock markets, banks etc..).

    1 out of 1000 planes/flights crash.
    Your statement is irrelevant to the quote of mine you quoted. On top of that how do you know 500million deaths in 5yrs would crash the world financial market? Where is your evidence?



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  20. #17
    Quote Originally Posted by Chester Copperpot View Post
    Your statement is irrelevant to the quote of mine you quoted. On top of that how do you know 500 million deaths in 5yrs would crash the world financial market? Where is your evidence?
    500 million people worldwide have insurance ?? That's what I am saying

  21. #18
    Quote Originally Posted by Itsback View Post
    500 million people worldwide have insurance ?? That's what I am saying
    Oh, so it has to be a particular 500,000,000? Not just any 500,000,000 would do it?
    Quote Originally Posted by angelatc View Post
    There's not a liberty lover on the planet who isn't called a liberal by the right, and a con by the left.
    Quote Originally Posted by Swordsmyth View Post
    Only Q or a civil war will save us

  22. #19
    Quote Originally Posted by acptulsa View Post
    Oh, so it has to be a particular 500,000,000? Not just any 500,000,000 would do it?
    By law, all cars/vehicles/automobiles should have speedometer of 60 miles per hour only so that no car/vehicle/automobile in the world travels above than 100 kmph. As they say 'speed kills"

  23. #20
    Quote Originally Posted by Itsback View Post
    By law, all cars/vehicles/automobiles should have speedometer of 60 miles per hour only so that no car/vehicle/automobile in the world travels above than 100 kmph. As they say 'speed kills"
    In the U.S. for a period beginning in 1979, all new cars were limited to a maximum speedometer reading of 85 mph. If you think none of those cars has ever been driven at more than 136 km/h, you're sadly ignorant.

    If you think every car in the U.S. with a speedometer that goes up to at least 100 mph has automatically been driven at least 160 km/h, you're even more ignorant and even more sadly mistaken.

    What subject are you going to abruptly switch to now?
    Quote Originally Posted by angelatc View Post
    There's not a liberty lover on the planet who isn't called a liberal by the right, and a con by the left.
    Quote Originally Posted by Swordsmyth View Post
    Only Q or a civil war will save us

  24. #21
    Quote Originally Posted by Itsback View Post
    500 million people worldwide have insurance ?? That's what I am saying
    And what does THAT have to do with crashing world financial markets?? Nothing right? So once again you make some stupendous claim that cannot be backed up when you're called out on nonsense....

    Explain again why anybody would go to your website for any type of reliable news or information?

    My advice to you is to shut down your website and go out and get a job so you can stop complaining about how you dont make enough money to even be taxed.

  25. #22
    Quote Originally Posted by Itsback View Post
    it could be 10 out of 10,000 people are killed in road accidents, snakes etc..
    If 100 out of 10,000 people are killed or injured or hospitalised in a year, insurance companies can go bankrupt

    350 people got killed since October 2018 when 2 Boeing 737 MAX 8 plane crashed. This could be bad for insurance.

  26. #23
    Quote Originally Posted by Itsback View Post
    If 100 out of 10,000 people are killed or injured or hospitalised in a year, insurance companies can go bankrupt

    350 people got killed since October 2018 when 2 Boeing 737 MAX 8 plane crashed. This could be bad for insurance.
    youre making my headache worse

  27. #24
    Quote Originally Posted by Chester Copperpot View Post
    youre making my headache worse
    Don't you think insurance has a bad business module ?? They know people live upto 70 to 80 years but things can go wrong.



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  29. #25
    Quote Originally Posted by Itsback View Post
    Don't you think insurance has a bad business module ?? They know people live upto 70 to 80 years but things can go wrong.
    A bad business module?

    I don't know how modular they are. But they make plenty of money.
    Quote Originally Posted by angelatc View Post
    There's not a liberty lover on the planet who isn't called a liberal by the right, and a con by the left.
    Quote Originally Posted by Swordsmyth View Post
    Only Q or a civil war will save us

  30. #26
    Quote Originally Posted by Itsback View Post
    Don't you think insurance has a bad business module ?? They know people live upto 70 to 80 years but things can go wrong.
    not at all. It is all based on actuarial tables and is pretty sound on a financial basis.. But for individuals it provides financial security and peace of mind just in case something happens. if somebody is young and in good health and a low risk to die, something can still happen.. somebody else older, or less healthy or in a perilous job would pay a higher premium.. but again its just so they can have financial security and peace of mind for their loved ones.. its not mandatory.

    To be precise when it comes to life insurance, it is only needed when someone has children. Its main use is as replacement for income. People buy it for other reasons at times but its really only needed when dependents are involved, and then never as an investment.. Never save money in a life insurance policy.. Its always a bad deal.

  31. #27
    True . Investing with Oyarde may be the way to go . I have the highest guaranteed interest when I do accept new money . Earlier this yr I would have locked you in at two percent .
    Last edited by oyarde; 03-14-2019 at 06:44 PM.
    Do something Danke

  32. #28
    Quote Originally Posted by oyarde View Post
    It is a legitimate point . Insurance is for poor people . You insure what you do not yet own . New car or house on a loan from the bank because they require it. Other than that if you banked the monies in an emergency fund you spent on other insurance you could roll the dice and see if you could just pay cash for everything else that happens . Freedom of choice .
    The reason you have insurance is protect against the catastrophic and unpredictable. If you hit someone with your car, you need insurance to protect your income if you get sued. If you get stomach cancer and the bill is 500k, maybe you can cover that with money in the cookie jar. Most can't And if someone is the breadwinner in a family, having life insurance makes sense.

    That isn't a function of being poor, unless you define being poor as having less than $10 million banked. The cost of insurance is small relative to the risk. Insurance companies do make money. They should. You are transferring risk. And insurance is a bet you should lose on over time. And you should hope you lose money on insurance. But playing Russian roulette isn't a financial strategy.

  33. #29
    Quote Originally Posted by Krugminator2 View Post
    The reason you have insurance is protect against the catastrophic and unpredictable. If you hit someone with your car, you need insurance to protect your income if you get sued. If you get stomach cancer and the bill is 500k, maybe you can cover that with money in the cookie jar. Most can't And if someone is the breadwinner in a family, having life insurance makes sense.

    That isn't a function of being poor, unless you define being poor as having less than $10 million banked. The cost of insurance is small relative to the risk. Insurance companies do make money. They should. You are transferring risk. And insurance is a bet you should lose on over time. And you should hope you lose money on insurance. But playing Russian roulette isn't a financial strategy.
    I carry one life ins policy .Roughly 96K . I own three homes and three other large parcels of land . All are pd for but one home . The life ins policy will take care of the remainder of what I owe on the one home for the Mrs if I die before she does and take care of a funeral so she does not need to spend any cash on those things .If I was single I would not pay for that policy probably . In that case I would probably just prepay my funerary expense and not worry about it . That home is worth more than I owe on it . Just the adjoining land would be close to paying the remainder of the loan but it will not matter to me when I am gone .
    Last edited by oyarde; 03-14-2019 at 07:02 PM.
    Do something Danke

  34. #30
    Global debt hits all-time high of $184,000,000,000,000

    The world’s debt currently exceeds $86,000 per person on average, according to the International Monetary Fund (IMF). The US, China, and Japan are the top three global borrowers, accounting for more than half of the global debt.

    https://www.rt.com/business

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