/dev/null Posted July 11, 2008 Posted July 11, 2008 http://biz.yahoo.com/nytimes/080711/1194793612725.html?.v=4
Wacka Posted July 11, 2008 Posted July 11, 2008 Sometimes when I'm inspecting apartment complexes for my job, I have to us a Freddie Mac or Fannie Mae template for the reports I write. They are a PItA. Athey are quasi-governmental now. It would be even worse if they are completely governmental.
John Adams Posted July 11, 2008 Posted July 11, 2008 Fannie and Freddie own or guarantee about $5.2 trillion of U.S. home mortgages, or nearly half of those outstanding. Their ability to provide money for mortgages is vital to the government's efforts to shore up the slumping U.S. housing market.
SD Jarhead Posted July 11, 2008 Posted July 11, 2008 I know many laughed at E. Brady and 'Billy Basement' BUT, I've been snapping up silver. In times like this it is a great hedge. Dwight has said this is the direction we're heading and his predictions have been true to this point. The 'perfect storm' is coming. If Israel hits Iran, who knows what will happen in the economic world. We are in some mighty scary times right now, the likes of which I've never experienced in my lifetime. While we aren't completely in the toliet at this time, all signs point to us getting wet real soon. Just my $.02.
Gavin in Va Beach Posted July 11, 2008 Posted July 11, 2008 I know many laughed at E. Brady and 'Billy Basement' BUT, I've been snapping up silver. In times like this it is a great hedge. Dwight has said this is the direction we're heading and his predictions have been true to this point. The 'perfect storm' is coming. If Israel hits Iran, who knows what will happen in the economic world. We are in some mighty scary times right now, the likes of which I've never experienced in my lifetime. While we aren't completely in the toliet at this time, all signs point to us getting wet real soon. Just my $.02. Excuse me if this is a totally stupid question, but how do you snap up the silver? Is this buying shares in silver someone else holds for you, or are you cruising pawn shops and buying items made of silver? Just curious.
Dwight Drane Posted July 11, 2008 Posted July 11, 2008 Excuse me if this is a totally stupid question, but how do you snap up the silver? Is this buying shares in silver someone else holds for you, or are you cruising pawn shops and buying items made of silver? Just curious. Many local shops are out of silver. There is an online exchange APMEX.com that I used for the first time the other day. I've been trading stocks of mining companies, but I finally bit the bullet and purchased some physical silver the other day. It feels REALLY nasty right now, hence my post Wednesday night in the other thread. Things can start to go bad in a hurry unless the Feds pull something out of their sleeve. There are ETFs in Silver, but the rumor is that they have been shorting shares to people, thus do not have enough actual silver to cover their commitments. If somehow we end up having a "banking holiday" in the near future.....run to the store before the rest of the country wakes up. I hope we don't get to that scenario, but I don't see how we can get out of this mess without everyone trusting each other and foriegn countries not dumping our dollar.
SD Jarhead Posted July 11, 2008 Posted July 11, 2008 I've been buying physical silver. I purchase it in a variety of 100 oz. bars, 10 oz. bars and 1 oz. rounds. You can do a google search of coin shops or numismatic shops in your area that sell bullion. I prefer silver for a few reasons. First it is a low cost metal that is easy to liquidate and is untracable by the Federal Gov't. It is a cash and carry purchase with no records kept or taxes paid. The historic ratio of silver to gold is just above 10:1. Right now Silver is trading at about a 50:1 ratio, so there is serious potential for explosive growth. Metals are also a 'survival currency'. If the dollar were to collapse, which while a longshot is a distinct possibility, metals would become currency. That is why many doomsday scenario believers hold it. Also, with inflation expected to rise (rapidly and soon in my belief), precious metals are a great investment. I'm not sure if you are old enough to remember the late 70's while Jimmuh was Prez, but it looks like we're at least headed back to that kind of economic condition at least for the short term. That is when silver and gold set records for value. Mind you I am not liquidating my stock investments, but taking the cash portion of my regular investments and diverting it to metals. It will only lose value if I put it in my regular savings account.
John Adams Posted July 11, 2008 Posted July 11, 2008 It's a bear market and now everyone sees collapse? Jesus H! I agree with Phil Gramm. Stop being such a bunch of whiners. http://en.wikipedia.org/wiki/Dow_Jones_Industrial_Average I also agree with Phil's nephew Lou: "You say it's urgent, So urgent, so oh oh urgent, Just wait and see...."
SD Jarhead Posted July 11, 2008 Posted July 11, 2008 It's a bear market and now everyone sees collapse? Jesus H! I'm not saying the world is going to stop rotating, but seriously, don't you see the storm clouds on the horizon? We may get lucky and it will pass, but what if it hits? That's all I'm saying. Be prepared, whether it be for a earthquake (a high probability where I live) or a financial meltdown which I think there is a significant probability of. If I'm wrong, what have I lost? But what if it does happen? Do you have insurance?
Dwight Drane Posted July 11, 2008 Posted July 11, 2008 I've been buying physical silver. I purchase it in a variety of 100 oz. bars, 10 oz. bars and 1 oz. rounds. You can do a google search of coin shops or numismatic shops in your area that sell bullion. I prefer silver for a few reasons. First it is a low cost metal that is easy to liquidate and is untracable by the Federal Gov't. It is a cash and carry purchase with no records kept or taxes paid. The historic ratio of silver to gold is just above 10:1. Right now Silver is trading at about a 50:1 ratio, so there is serious potential for explosive growth. Metals are also a 'survival currency'. If the dollar were to collapse, which while a longshot is a distinct possibility, metals would become currency. That is why many doomsday scenario believers hold it. Also, with inflation expected to rise (rapidly and soon in my belief), precious metals are a great investment. I'm not sure if you are old enough to remember the late 70's while Jimmuh was Prez, but it looks like we're at least headed back to that kind of economic condition at least for the short term. That is when silver and gold set records for value. Mind you I am not liquidating my stock investments, but taking the cash portion of my regular investments and diverting it to metals. It will only lose value if I put it in my regular savings account. Well said. I just grabbed some rounds to hang on to...nothing too much. The stock market should get interesting. They are going to break 11,000 the way this looks, and I wouldn't be surprised if we test the 10,700-800 area. That would be a big signal to buy, and they could probably close at 11,000 right about where we are now. 2 PM is when the decision makers will come in.
finknottle Posted July 11, 2008 Posted July 11, 2008 Metals are also a 'survival currency'. If the dollar were to collapse, which while a longshot is a distinct possibility, metals would become currency. Only when they are shaped like a gun. Otherwise they will be worthless. If the currency goes so does the rule of law.
John Adams Posted July 11, 2008 Posted July 11, 2008 Oy vey with the Alas Babylon scenarios. Fannie and Freddie are a Frankenstein monster of a govt and private co. combination. There are always going to be issues.
John Adams Posted July 11, 2008 Posted July 11, 2008 I'm not saying the world is going to stop rotating, but seriously, don't you see the storm clouds on the horizon? We may get lucky and it will pass, but what if it hits? That's all I'm saying. Be prepared, whether it be for a earthquake (a high probability where I live) or a financial meltdown which I think there is a significant probability of. If I'm wrong, what have I lost? But what if it does happen? Do you have insurance? What was it...1987 or something when the Dow dropped 22% in one day? 1 day 20+ %!?!?! All the chicken-littling is what drives this sort of panic. Man up. I have no interest in your silver if the dollar goes belly up.
SD Jarhead Posted July 11, 2008 Posted July 11, 2008 In my first post I said I buy it as a hedge. I repeat, I have not liquidated ANY of my stock or fund holdings to purchase metals. I do think it is a wise HEDGE in uncertain times. Seriously, do you think earning 1-2% in a savings account is a great investment in this market? Let me also add for clarity that I have not taken out any of my normal cash reserves, but am directing new money into metals. What's wrong with this position?
John Adams Posted July 11, 2008 Posted July 11, 2008 It's your thing. That's fine. I'm just grumpy--not because I'm getting poor in the market (I am but am well-diversified so I'll live.), but because of all the people crying about the sky falling. I hope to get a ton of bargains.
SD Jarhead Posted July 11, 2008 Posted July 11, 2008 Only when they are shaped like a gun. Otherwise they will be worthless. If the currency goes so does the rule of law. Well I also am a big believer in personal protection and do not trust leaving my families protection to the Gov't. Hence I am also well supplied with ammunition. This has been discussed recently in another thread, but, ammunition is getting very expensive and with some of the initiatives moving through the legislature here in the land of fruits and nuts, may become very difficult to acquire.
finknottle Posted July 11, 2008 Posted July 11, 2008 In my first post I said I buy it as a hedge. I repeat, I have not liquidated ANY of my stock or fund holdings to purchase metals. I do think it is a wise HEDGE in uncertain times. Seriously, do you think earning 1-2% in a savings account is a great investment in this market? Let me also add for clarity that I have not taken out any of my normal cash reserves, but am directing new money into metals. What's wrong with this position? What I'm really saying when I ridicule gold-bugs is that it is worthless in a doomsday scenario, which is the prospect most of those guys slobber over. Unless you have a loyal private army, somebody is just going to come by and take it from you. It's fine as a hedge for a significant economic downturn.
East Brady Posted July 11, 2008 Posted July 11, 2008 Silver and gold are very bullish right now. As far as buying the real thing, stop by the coin shops or call around to see whats available before burning gas. Good luck finding silver. As far as the market is concerned and the sky falling label that the resident experts like to throw around, tell me when in our life time were the major banks INSOLVENT, could someone answer that for me. Nothing wrong with a small hedge, always buy the real thing. And for you wise guys around here, start doing some research, you will soon find that the main streamers are full of chit. You guys can now return too your naive and very phony left vs. right battle, meanwhile the top is prep'in your ass for the biggest rip-off in american history, where did all the money go??
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