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29 June 2022, 01:28 PM | #301 | |
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29 June 2022, 02:29 PM | #302 | |
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US CC and Household Debt At Record Levels
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This is the silver krugerrand coated in ruthenium. The ones they were selling were fakes matched to size and weight. Only by using that PMV machine (pictured above) was I able to tell that it was a fake because the conductivity reading of the metal was incorrect. I had the manufacturer of the machine Sigma Metalytics confirm my measurement. Fake. Bullion buyers beware. Even major bullion houses can inadvertently pass fakes and the recourse isn't pretty.
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29 June 2022, 11:07 PM | #303 | |
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30 June 2022, 01:43 AM | #304 | |
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30 June 2022, 01:46 AM | #305 |
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And then there's 'paper' gold / silver (GLD / SLV). We know for fact precious metal pricing get manipulated by majors and they've been fined for it, but does it matter when 'small investors' can't recoup their losses?
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30 June 2022, 03:56 AM | #306 | |
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Some firmly believe the spot prices have been kept artificially low to keep people spending money on credit, buying materialistic junk, and to keep their money in the declining stock market. I think it is interesting that silver is one of the only things to drop in price during this inflationary time, when it is one of the oldest mediums of intrinsic value. Not to mention that the cost to mine has to have gone up, and the use in solar panels, electronics and medical equipment keeps increasing. |
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30 June 2022, 04:02 AM | #307 | |
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You should. I only deal face to face now because of this scared straight moment and your final point. It surely sounds like a scam to them if they truly believe they are innocent. My particular order had 2 fake silver coins, some real 10 oz queens beasts and over $20,000 in real (thankfully) 1 oz gold krugs. I traded them all for a full gold submariner last summer
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30 June 2022, 04:36 AM | #308 | |
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Sounds like the best guarantee for authenticity is the Rolex foundry and certificate of authenticity for gold! Ha. |
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30 June 2022, 06:01 PM | #309 | |
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US CC and Household Debt At Record Levels
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I have a friend. He’s the kind that always asks you to pay for a game of golf and then he will “Venmo” you later. It never happens. He asked me desperately one day for several thousand which I lent him. I had a gut feeling I would never see it again. I was right. Come to find out later that he used the money to pay another friend that he owed money for more than a year. He’s got a gambling problem among other problems. I’ve tried talking to him and telling him he’s far down a dark road but maybe because I am a lot younger I suspect he doesn’t hear me. He is still my friend but I avoid hanging out with him. He’s tried to reach out to me about starting a medical business together. I just can’t take the idea of going into business with the guy seriously. Not at this time. Cool guy. He’s helped talk me through problems I had at the beginning of my career. Just not the person I remember. Wish I could help him the same way he helped me but throwing money his way is just enabling. |
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30 June 2022, 09:03 PM | #310 | |
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Not to make light of your post …. But I have (had) a friend who is (was) the exact same. It was always so frustrating to me, as he had everything going for him, including money and opportunity (when he was much younger). |
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30 June 2022, 11:14 PM | #311 |
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Oh man, yeah i feel ya there and we have a relative like that... he's where currency goes to die. We stopped enabling him long ago, he finally hit bottom recently and he'll have to figure things out for himself from here on out.
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__________________ “Life should not be a journey to the grave with the intention of arriving safely in a pretty and well preserved body, but rather to skid in broadside in a cloud of smoke, thoroughly used up, totally worn out, and loudly proclaiming 'Wow! What a Ride!'” -- Hunter S. Thompson Sent from my Etch A Sketch using String Theory. |
30 June 2022, 11:29 PM | #312 |
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There is good debt and bad debt. Buying a home with a mortgage is an example of good debt. Buying things on credit cards which cannot be paid off in full each month is typically bad debt unless it an expected must purchase such as new AC, etc.
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1 July 2022, 06:41 AM | #313 |
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Too many people at all socio-economic levels want immediate gratification and never pause to think about the possibility of their business seeing a downturn, losing a job, getting sick and not being able to work for a while or other issues. Some go as far as filing bankruptcy and doing it all over again. As is usually the case, those lower income earners legitimately trying to make a decent living, acting responsibly to provide for their families are the ones who will be most harmed by a recession.
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1 July 2022, 06:45 AM | #314 | |
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1 July 2022, 07:26 AM | #315 |
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Honestly, I’m not as sympathetic to the players that dug their own hole living beyond their means. They should be accountable and deal with the consequences of their own decisions. Unfortunately their actions are making matters worse for a whole bunch of people who weren’t playing the game and are now getting dealt a losing hand through no faullt of their own.
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2 July 2022, 05:26 PM | #316 | |
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Know plenty
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2 July 2022, 05:34 PM | #317 |
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3 July 2022, 12:14 AM | #318 | |
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Never heard the phrase “fly a kite” thank you for that. Sent from my iPhone using Tapatalk
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3 July 2022, 12:17 AM | #319 |
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3 July 2022, 12:21 AM | #320 | |
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Went in may with my my wife and two kids. 5k all in for 6 nights and 5 days in the parks. We stayed at a lower end resort and spent money in the parks about as rapidly as my sanity would allow. I thought it was a reasonable amount of money and over all worth it. Won’t go again for several years. Sent from my iPhone using Tapatalk
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3 July 2022, 03:28 AM | #321 | |
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You’re welcome. Feel free to use it at your leisure. Maybe a better one is what my 96 year old great grandmother use to say “go rub salt up your a**”
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3 July 2022, 07:00 AM | #322 | |
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That seems very reasonable for Disney world. The nice part is there are so many places to stay. Sent from my iPhone using Tapatalk |
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3 July 2022, 12:57 PM | #323 | |
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I think right now, there is a lot of uncertainty with markets. Debt;gdp ~125%. Interest rates rising and to me, some of the questions I have are: How well will these zombie corporations do well with floating debt that costs? What about the shadow banking system? How leveraged are people? How will this insane inflation be tamped out? I have watched the disaster in the crypto market. It is truly like watching a train wreck in slow motion. I think there will be more defaults and margin calls. What I wonder is if this will bleed over into traditional markets? Is there systemic risk? I don’t know what will happen at all, but I’m thinking about things much more. I am conservative by nature and a bit of a bear, but I still see the buy the dip mentality and I really believe this is short sighted. I am hunkering down and taking a wait and see approach. I think that if rates keep going up, something is going to break and then we will be racing for the bottom. Painful but maybe healthy by getting rid of frothy investments, companies that don’t perform well. If this happens, we should see disinflation or even deflation (would honestly be welcome; I went to breakfast at a street cafe, nothing fancy breakfast sandwich and cappuccino $70 for 2 of us. Insane.). If interest rate hikes lead to systemic risk and credit stops, then the fed will have no choice but to ease and lower rates without effectively lowering inflation. That includes the fed. Our debt to gdp is super high. Raising interest rates in the face of a recession makes it much harder for the USA government to pay its debt. In either of these scenarios, cash would be king and cheap asset acquisition would rule the day. Other perspectives are that the fed will engineer a soft landing and get the inflation down and we have a mild recession and pull out of it as business as usual. In that case hedge, and then decide where to allocate funds. Anyways, all of those scenarios for me lead to one thing and that is to continue to work and do my best to humbly plan for the future. As far as cc debt goes, I pay mine off every month in full and try to live debt free as much as possible. I really hope we get kind of a soft landing with low inflation. |
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6 July 2022, 01:45 PM | #324 |
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These were floating around 30's couple of months ago.
https://www.rolexforums.com/showthread.php?t=858021 |
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