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mayday · 04-29-2011, 08:27 AM

as I understand it, the US is running deficits of I.5 trillion annually as far as the eye can see. if just 5 years ago I would have told that's where we are headed you would of said I 'm nuts. this is reality.there is no way out of this except to print more paper money. if you believe the banking system is solvent, you're a fool. just continue to keep your funds in a bank or brokerage house and go back to sleep. everything is fine and in keeping with the times to quote George W. Bush, ' just keep on shopping".

Lucas McCain · 04-29-2011, 09:01 AM

Quote:

Originally Posted by mayday

as I understand it, the US is running deficits of I.5 trillion annually as far as the eye can see. if just 5 years ago I would have told that's where we are headed you would of said I 'm nuts. this is reality.there is no way out of this except to print more paper money. if you believe the banking system is solvent, you're a fool. just continue to keep your funds in a bank or brokerage house and go back to sleep. everything is fine and in keeping with the times to quote George W. Bush, ' just keep on shopping".

Does anyone fucking read around here?? Where did I say the banking SYSTEM was solvent???? I said some BANKS were solvent!!! Do you think Bank of America, Wells Fargo, Citibank, Chase or God only knows how many other banks are not solvent!!!! Do you even know what solvent/solvency means??? A BROAD banking SYSTEM can't be solvent because every bank has their own policies - good or bad, hence this bad economy.

The banking SYSTEM is obviously a fucking mess.

Bury your money in the back yard, I think I'll leave mine in the bank.

Let me guess, you are one of these fools that thinks the world is going to really end in 2012.

Please actually comprehend my words before you give an opinion on them.

mayday · 04-29-2011, 10:16 AM

there is no way you could possibility know which banks are solvent. that's because they are allowed to keep assets on their books based on the banks estimate of value. there is no mark to market valuation. you cannot trust their financial statements. this is the reason why everyone should hold a portion of their wealth in physical assets. this enables the individual to opt out of the system.

Lucas McCain · 04-29-2011, 10:45 AM

Quote:

Originally Posted by mayday

there is no way you could possibility know which banks are solvent. that's because they are allowed to keep assets on their books based on the banks estimate of value. there is no mark to market valuation. you cannot trust their financial statements. this is the reason why everyone should hold a portion of their wealth in physical assets. this enables the individual to opt out of the system.

Every bank I named is a public company. Do you not think you can trust their 10-Ks'? Unless you are an auditor for KPMG, Price Waterhouse, Deloitte or Ernst and Young, what the fuck do you know, (just naming the big 4 firms)??? Unless you are, you don't know either, so why speculate?

And anyone who would invest money in bank equity/stocks is crazy. Do you really think you will lose money in the banks I mentioned if you have an account in them? Do you think if you have money in Bank of America that you are about to lose it? Get a grip, you're not. Your money is fine there or pretty much anywhere else.

TallGuy6 · 04-29-2011, 11:14 AM

Would you take advice from someone that flies off "the fucking" handle everytime an alternate suggestion is proposed?

I think that answer is "no".

There are plenty of ladies around here that will gladly take your paper money and help you de-stress...if that's even possible.

I don't know about anyone else, but my silver comes in the form of coins, which are stored in a safety deposit box. As I've said far too many "fucking" times, it's a HEDGE.

The printing presses are running until the ink dries up, all those dollars you save in your "bank" are worth less today than 1 year ago. All those dollars I've locked up in silver are worth twice as much as they were last year.

I don't think I'll be taking your "fucking" advice any "fucking" time soon!

:-)

Lucas McCain · 04-29-2011, 11:26 AM

Damn, did any of you clowns read my initial post on this thread? It's obviously a good investment, but you just don't need to see it to own it....I''m sure I own a lot more Silver than all of you, but I'll just own it "on paper."

mayday · 04-29-2011, 11:27 AM

I'll repeat, in case you're not listening. Its an insurance policy for what's coming. but just like you don't want to have your house burn down so that you can collect on your insurance, I hope we never have to use it. what I'm talking about is a currency collapse better known as a hyper-inflation.

LovingKayla · 04-29-2011, 11:34 AM

I'm curious why anyone would work so hard to PREVENT a hedge of protection? Silver is over 48 now. WTF is wrong w just a little stash.

Lucas McCain · 04-29-2011, 11:44 AM

Quote:

Originally Posted by mayday

I'll repeat, in case you're not listening. Its an insurance policy for what's coming. but just like you don't want to have your house burn down so that you can collect on your insurance, I hope we never have to use it. what I'm talking about is a currency collapse better known as a hyper-inflation.

Let me guess, Fox news is your favorite place to find the news? You use quite an extreme example. Do you invest in all Puts too??

Gulf2 · 04-29-2011, 01:23 PM

Quote:

Originally Posted by Lucas McCain

....I''m sure I own a lot more Silver than all of you, but I'll just own it "on paper."

How could you possibly know that?

mayday · 04-29-2011, 01:34 PM

maybe you just don't understand. our Government is running monumental deficits and the Fed is just printing money/bonds out of thin air. I don't know what Fox news has to do with it and no I'm not making this up. if this doesn't make you a little worried then your financial adviser must be Dick Chaney who often said, " deficits don't matter, we just print it". what more do you need to know?

TallGuy6 · 04-29-2011, 02:26 PM

me thinks ol'Lucas has got quite the ego. Next thing he'll be betting his pecker is longer too.

LovingKayla · 04-29-2011, 02:52 PM

OK I did it, I actually got silver in a trade today. Then I got the lady at target to accept a piece of the silver as payment for what I got. (And she was very VERY happy to accept it.) Spooky yet?

Lucas McCain · 04-29-2011, 04:36 PM

Quote:

Originally Posted by TallGuy6

me thinks ol'Lucas has got quite the ego. Next thing he'll be betting his pecker is longer too.

That would not be much to brag about compared to a bunch of old wrinkled dicks, so I try to keep that part of my ego to myself.

LovingKayla · 04-29-2011, 04:58 PM

.