The Down Range Forum
Member Section => Down Range Cafe => Topic started by: fightingquaker13 on April 09, 2013, 01:22:50 PM
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Ok, so a couple of weeks ago, I opened an account at my local credit union. I've got to do some home repairs and such, and some I can get a tax deduction on, so I dropped five grand in a savings/checking account so there is zero confusion when I file my taxes. Turns out I get a whopping .7% interest on the account. Now the rate of inflation is 1.98%. So, even though my math skills are rusty, that means that money, just sitting in a "savings" account earns me $35 dollars. While the rate of inflation eats $99. So basically I lose $64 a year. WTF? I'd be better off buying non perishable goods or just going to Vegas. Yeah, I'd lose there too, but at least I'd have fun doing it.
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It's called "transfer of wealth", and it is one of Govt's favorite scams.
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Don't feel bad, even my money market is not 1% :( its a joke really.
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This is a very big problem. What to do when other investments mature. State/City who have bonds outstanding paying 5% are calling them in an refinancing them with much lower rate ones.
The stock market is inflated so it's not a good place to put cash.
There are however, some ETFs (Exchange Traded Funds) in oil and gas royalties where are paying 4-6%.
If you have an on-line trading account then the commissions should be low.
CTR Oil and Gas is paying dividend yield of 5.85%
Or a mutual fund in preferred stocks which pay regular dividends.
PGX Powershares is paying a dividend yield of 6.34%
Here's the Motley Fools blurb on ETFs. http://www.fool.com/investing/etf/index.aspx (http://www.fool.com/investing/etf/index.aspx)
WARNING: I'm not an investment adviser. Do not take my advice without through and proper research and counsel. YMMV
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There really isn't a safe place to put your money now. all of them are out of wack.
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piles of gold or silver hidden in your attic might hold some value
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Gold works to preserve "wealth" in the long term since it holds intrinsic monetary value .
However for daily use in the event of an economic collapse silver is the better investment since it also holds intrinsic value but your local grocer is more likely to be able to give you change for a silver coin when a gold coin may buy his entire inventory and building.
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you would need to convert gold or silver, coin or bullion, to cash at a broker. The face value of the coin would suffer inflation just as the Dollar does.
It will preserve your wealth, but it will be a pain to get cash every time you want to by a $623 Quarter Pounder at McDonald's.
;D
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Well Tom, Walmart only charges you $2.64 for a tube of KY ::)
http://www.walmart.com/ip/K-Y-Brand-Jelly-Personal-Lubricant-2-oz/10293877
That screwing looks cheaper than the one you're getting form the CU. But then again, it boils down to how much lube you plan on going through in a year.
By my maths that's 23 tubes to break even or 24 for more in KY than your CU. ;D
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Well Tom, Walmart only charges you $2.64 for a tube of KY ::)
http://www.walmart.com/ip/K-Y-Brand-Jelly-Personal-Lubricant-2-oz/10293877
That screwing looks cheaper than the one you're getting form the CU. But then again, it boils down to how much lube you plan on going through in a year.
By my maths that's 23 tubes to break even or 24 for more in KY than your CU. ;D
What the hell are you talking about ? ???
you would need to convert gold or silver, coin or bullion, to cash at a broker. The face value of the coin would suffer inflation just as the Dollar does.
It will preserve your wealth, but it will be a pain to get cash every time you want to by a $623 Quarter Pounder at McDonald's.
;D
The point would be to use real money instead of the phoney federal reserve notes .
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Invest in guns and ammo.
Ammo is the new gold.
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What the hell are you talking about ? ???
The point would be to use real money instead of the phoney federal reserve notes .
I think he's talking to me (you've been guilty of this yourself).The thing is, he's not wrong. Its an undeclared tax on savings where the government makes money in sienurage.
but, if have to use gold or silver, I'd probably get farther bartering ammo, because things have seriously gone Southward.
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Invest in guns and ammo.
Ammo LEAD is the new gold.
Fixed.
(And Tom ... who the hell really knows what goes on in my head... not even me.)
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Invest in guns and ammo.
Ammo is the new gold.
+1. Lead is not the new gold, you need primers and powder which are scarce as hen's teeth right now. I can still get lead bullets but I'm going to be out of powder soon. I have a buddy that'll sell me powder at normal costs since he stocked up early last year, might have something to do with being single and no kids. So then primers are the bottleneck.
FWIW I looked at prices for components once things get back to normal and I can get primers and powder to load 11000 rounds of 45 for ~$320... :-[
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What the hell are you talking about ? ???
The point would be to use real money instead of the phoney federal reserve notes .
The point is that your real silver dollar would only be worth it's face value of one inflated dollar and would need a sack full of others just like it to buy that burger.
No point of sale is going be be able or want to assay your silver dollar and give you the correct change.
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Wait till you check your US saving bonds just over 1.12% and mature in 30 years. :'(
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The point is that your real silver dollar would only be worth it's face value of one inflated dollar and would need a sack full of others just like it to buy that burger.
No point of sale is going be be able or want to assay your silver dollar and give you the correct change.
Never been involved in "underground economy" have you ?
You coin would have the value of the weight of silver or gold . There are standard weights even for pre 65 change so no weighing or assay involved , just like there was no need for them back when we used real money .
And in case you are incurably naive very few people will refuse tax free "real" money.
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Never been involved in "underground economy" have you ?
You coin would have the value of the weight of silver or gold . There are standard weights even for pre 65 change so no weighing or assay involved , just like there was no need for them back when we used rel money .
And in case you are incurably naive very few people will refuse tax free "real" money.
I used McDonald's as an example to demonstrate what you would need to do in the above ground economy, which will be functional for some time yet.
But just get this straight, how many times have you ought a Big Mac on the underground economy and what percentage of your purchases in the past year have been made on the underground economy?
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I used McDonald's as an example to demonstrate what you would need to do in the above ground economy, which will be functional for some time yet.
But just get this straight, how many times have you ought a Big Mac on the underground economy and what percentage of your purchases in the past year have been made on the underground economy?
For about 10 years I LIVED on the underground economy.
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For about 10 years I LIVED on the underground economy.
Ain't divorce a B!tch! You know why they are so expensive? Because they're worth it! ;D
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Ain't divorce a B!tch! You know why they are so expensive? Because they're worth it! ;D
This was long before my divorce.
Getting married was what got me to become a "good citizen" .