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Investment question

This is a discussion on Investment question within the Economic, Precious Metals, Investing, Finance forums, part of the General Discussion category; I am being honest here for information sharing only. We have NO paper contracts where someone else owes us money, with the exception of one ...

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Thread: Investment question

  1. #11
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    I am being honest here for information sharing only.

    We have NO paper contracts where someone else owes us money, with the exception of one residence we did owner financing on.
    That has a balance of $6,000 and we decided to walk away from it as soon as the SHTF. We will deliver a lien release to the buyers so they can go in peace.

    After all Prepper supplies and expenses were done, we purchased Silver Eagles (U. S. Currency.)
    We hold a few thousand dollars in hundreds at home.
    Each month we empty our bank accounts and only leave what we intend to write checks on. The wife (boss) is a check person and I am a cash person only.

    Our only debt is $4,000 on our rental home mortgage. We can pay that off at any time we wish with cash at home (that the banks cannot seize as a bail-in).

    We are plaintiffs in a suit against our Homeowners Insurance company. They offered us $6,000 to cover damages of $50 and *80 thousand dollars. Been going on for almost two years now. Two months ago we hedged our bet that the system will collapse and the insurance company will go bust and never pay off. We did this by buying some extra silver.
    Example: A $500 investment may possible yield $750,000. So at this point we are not fretting about an unpaid insurance claim.

    We purchased Silver Eagles as they are U. S. Currency so they cannot be counterfeited like silver jewelry.

    As the currency devalues the silver will go up in value. It is the safest way to protect your wealth.

    We purchased silver three years ago at around $17 per ounce. Today it has a street value of around $35 per ounce.
    I know, someone will say "it closed today at $24 Jim." But try to buy at the phony price published without paying the seller a broker's fee to get the physical!

    Chiefster, I hope this helps you in some way. My advice is get out of any stocks, bonds, pensions and any other promises to pay you later because more than likely those that promise will be bankrupt (as many of them now are unofficially).
    Last edited by jimcosta; 07-28-2020 at 04:54 PM.
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  2. #12
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    I'm convinced The Lord does not intend for me to be wealthy...

  3. #13
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    My advice is to hold a minimum amount of cash and get out of the rest.
    Look at silver and gold prices rising now. It is because the value of the dollar is falling and it will continue to fall as the PetroDollar collapses.

    How much reserve cash should one invest in metals? On advisor said "Only the amount you want to keep after the collapse."
    stowlin likes this.
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  5. #14
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    Quote Originally Posted by Chiefster23 View Post
    How are you getting 2% in cash? I would jump on that in a second if I could find someone paying 2% on cash or CDs.
    It is a short municipal bond fund. It has a maturity of something like 60 days.
    Chiefster23 likes this.
    rest in peace Corporal Bradley Coy 06/08/92-10/24/14

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  6. #15
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    The first step in getting rid of paper currency should be to give folks a chance to turn in a certain amount for credits..marks of the beast etc..20 k maybe. Past that amount they will only need to know where you got it..and you might get credit for it maybe. Should put a lot of drug dealers and counterfeiters out of bidness. Heal the budget deficit nearly as quick as nationalizing all the public and private pension plans..dumping it all into the Social Security Fund and dole it back out to those deemed worthy to have it..really need it..and vote for the right politiicans etc. An intermediate step would be to issue new currency. Seems like some Ruskie controlled area did that one time. Holland changing its Guilders for Euros. That maybe was the place.
    [

  7. #16
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    Well it depends on the stocks - seriously.

    Chicom virals got my attention in January and I moved out of about 1/2 of my stocks the first week of Feb. I had very high exposure of Apple and some chip makers I expected would get hurt. That 50% represented all of my 2019 gains plus some of what I call my equity mostly in those same stocks. The other 50% left in got hurt but my over all port was ok. I got in and and am now about 33% out. I’m suggesting stay out until Election Day unless you have a stock on target pricing. My only gains the last mont were AAPL and silver ETFs.

  8. #17
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    BTW if no anyone has old life insurance policies check and see what rates of interest they pay on prepaid premiums. My parents got me one in the 70’s and it pays over 4%

  9. #18
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    So at what point do I say it's enough??

    Of course it will continue to increase til I sell then it will explode in value. Unless it all collapses.

    So do I buy more shinny stuff?? Cause when it gets to the point that I'm eating squirrels, hopefully. A back pack full of shinny stuff will get me what??
    stowlin likes this.
    The world will not be destroyed those who do evil, but by those who watch them without doing anything. "Albert Einstein"

  10. #19
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    Well my take was to take profits. How did you do last year? I’ve been investing my money and others for the last ten years and to a small extent my retirement funds since I was 12-13 years old when dad stole my money and gave it to some IRA chick who kept it for herself. In all my years there was never one like last year. It was so awesome I bailed easily when I feared Covid. All I took though was my profits of last year and 10% of my original investments. I consider locking in gains.

    Silver ETFs are not for SHTF but are for those staying in the market. I buy small sums of them almost very three months and they are going up with bullion as they should.

    Quote Originally Posted by Chipper View Post
    So at what point do I say it's enough??

    Of course it will continue to increase til I sell then it will explode in value. Unless it all collapses.

    So do I buy more shinny stuff?? Cause when it gets to the point that I'm eating squirrels, hopefully. A back pack full of shinny stuff will get me what??

  11. #20
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    Quote Originally Posted by Chiefster23 View Post
    Not trying to get into anybody’s business, but just wondering. Has anyone here already sold off all their stocks and bonds and gone to all cash? I’m considering this but still wavering. My track record and timing making big financial decisions sucks.
    Sold everything but some gold stocks. Get out now or you will be what we call in the biz "a bag holder". You are going to need your dry powder for what's coming next.

    Godspeed

 

 
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