Comments on: Is Your Money What You Think It Is?, Part II

By: Bors

Bors — Sun, 21 Mar 2010 15:02:18 +0000

I agree JTC except maybe not richer but to be better armed.

Like .99 cents is so much lower than $1.00. Pitiful

By: JubilationTCornpone

JubilationTCornpone — Sun, 21 Mar 2010 03:32:18 +0000

I always like the concept of investing ‘offshore’ with very little detail on where. Iceland? The UK? They both sound bad to me.

Watch out you don’t make the same mistake as Peter Schiff, who talked about US stock doom for years, and then invested clients’ money in foreign markets that went down at an even faster rate.

I suppose that, in the final analysis, the important thing is not to be rich, but to be richer than your neighbor.

By: SusieQ

SusieQ — Sun, 21 Mar 2010 02:58:46 +0000

Could you please explain further the “big fat mortgage” comments. I’m doing many of the suggestions, but am on the fence about our house: great neighborhood, holding its own, 4.75% 30yr fixed (refi a year ago)could sell fast for apprx $375K, 200K mortgage. Friends just bought a HUGE house $700K foreclosure way south of Denver, prev sold for 1mill – they think when inflation does hit, they’ll be way ahead of the game. Are they right? PLEASE – some words of wisdom !!!!

By: patrick

patrick — Sat, 20 Mar 2010 19:32:25 +0000

I have been waiting on hyperinflation since 1972. Now, 38 years later, I can honestly see that its closer, but I’m not sure how much closer. I don’t wish for it, but I’d like to have some hint of the timing of its arrival. Tomorrow? Next year? A decade from now? Articles like this upset people, but they don’t offer any real, useful answers. And that’s what people need.

By: Paramedic in Houston

Paramedic in Houston — Fri, 19 Mar 2010 15:08:01 +0000

99,I agree with you,I think its hard to see the consequences of our situation nowbecause for a going to the store and buying cheao food (relativly cheap anyway) is the norm.Itts hard to wrap our heads around the basic things we take for granted,not being available to us.So many are going to be caught by surprise and unprepared.Im doing what I can to preppare and hoping the Titanic will stay afloat just a year or two longer.

By: 99 cent Nation

99 cent Nation — Fri, 19 Mar 2010 14:43:48 +0000

It is interesting as Louise Weiss points out the problems of paying for things with gold coin or even silver coin. That implies that the paper currency has more or less disappeared when it comes down to paying with gold or silver, or barrels of oil. The question is why does anyone think there will be stores open to buy anything in that scenario. Trucks will have stopped running and the shelves will have been emptied out very quickly. The government will have declared Marshall law and will confiscate anything of value any way. If not fiat currency will still be in play or probably plastic cards will be issued.

Like .99 cents is so much lower than $1.00. Pitiful

By: chris

chris — Fri, 19 Mar 2010 08:56:03 +0000

you are right to say that debtors lose.
Some years back, I took out an investment loan for equities buying, with my interest then at 3% plus the going rate for 30-day bills. Without more than a month’s warning, the lender recently changed the rate to above 8%, nearly doubling my monthly interest payment. So borrowing to invest in stocks – even bluechip stocks – is very risky.

By: worldlymrb

worldlymrb — Fri, 19 Mar 2010 04:24:12 +0000

To louise: You wont be able to go to a grocery store, or pay your cable bill with gold just as you would not be able to use 55 gallon drums of oil either.

What you can do is sell your gold on ebay, or craigslist. I am always looking for gold and silver to buy on those sites because they can be bought at spot and sometimes below spot.

By: Chad Gallagher

Chad Gallagher — Fri, 19 Mar 2010 00:49:19 +0000

I have my 401k in TIPS but, I am torn with the deflation debate argued by Bob Prechter…who also predicts Gold going to $680 an ounce… In short I see both on the horizon… Any advice? How is it possible to move money to Singapore?

By: cafeswartz

cafeswartz — Fri, 19 Mar 2010 00:21:41 +0000

This idea that debtors can win by putting a big mortgage on their houses is wrong.Debtors always lose. Lenders change the rules ,governments break the contracts to protect the lenders. How hard would it be for the financial institutions to index your mortgage principle to the inflation rate.? Cha ching you have a 25 trillion dollar mortgage now ,you know the one that used to be 25 billion.