Posted:
#26
page 2
Bagel Sandwiches Suck
March Stock Implosion Thread
Posted:
#27
Keeping GM afloat only supports a small business segment and a bloated union.
a small business segmet, A SMALL BUSINESS SEGMENT? MILLIONS of decent paying JOBS not just with their own operatons but with suppliers, vendors and their dealerships is a SMALL BUSINESS SEGMET? hell, just their air and ground transportation of components to and from assembly plants is hundreds of thousands of JOBS. 
and just WHAT the FUCK does AIG bring to the table? their a fucking INSURANCE COMPANY. there are other insurance companies that will PICK UP the BUSINESS. what the FUCK is their "investments"? GM and other manufacturers have BILLIONS invested in production equipment. what does AIG have? a building, some computers and (don't forget) their 8 Gulfstreams and a fucking helicopter? they only MOVE MONEY AROUND and actually produce NOTHING.
AND their so called "insurance" is WORTHLESS. 
I don't think AIG going under would be any more "MONSTEROUS" to the market than we have already seen.
Posted:
#28
Quote Originally Posted by depeche2:
clay, what exactly is the best way to buy bars of gold and take physical ownership. I mean, there isn't exactly the corner gold store. I've tried to research this and I've always come away simply confused. Got any simple how-to instructions on this while getting a fair price, or a link to such info?
clay, what exactly is the best way to buy bars of gold and take physical ownership. I mean, there isn't exactly the corner gold store. I've tried to research this and I've always come away simply confused. Got any simple how-to instructions on this while getting a fair price, or a link to such info?
Not a problem, Depeche. I got mine through a contact in South Africa----The Republic of South Africa, that is.
The futures are rubbish----you got to own the real thing.
Posted:
#29
Quote Originally Posted by wallstreetcappers:
CC,
That just isnt practical to me at all, what are you going to do lug all that gold when you move, barter trade it for groceries?
If you guys who are destruction bears like gold, what good will it be to hold if things go that badly?
CC,
That just isnt practical to me at all, what are you going to do lug all that gold when you move, barter trade it for groceries?
If you guys who are destruction bears like gold, what good will it be to hold if things go that badly?
WSC-
Owning physical gold isn't as daunting as you may think. Look it, man, 10ozs of gold is less than a pound. Spot gold is about 940ish an ounce.
Even if you put 1 million dollars in to gold bullion at current spot, that would be about 70ish lbs of actual gold if you took the physical ownership.
70 lbs isn't that much. I got enough crap like books and s--t that weighs a hell of a lot more than 70 lbs, unfortunately.
You know as well as I that inflation, and I mean rampant hyperinflation, is coming down the pike.
I believe spot gold by EOY of '14 will be close to 4,000 rocks an ounce. That would beat 250% inflation, which I see coming.
The best thing that ever happened to W Bush was farking "Barack Obama."
Barack Obama
Posted:
#30
CC,
The point is that how do you feel safer holding gold when if things get that bad, how will you be able to turn it into a tradeable commodity that you can purchase something with?
Rat..dont think of AIG as our life insurance holder (which it is for me actually) that part of their business is doing GREAT.
They are the insurer of the CMOs and CDOs that have imploded in our faces..they go under, NONE of the holders have insurance and if that happens we have a MONSTER mess on our hands.
If AIG were only a generic life insurance company or auto etc, the government would have let them fail..hell if they hadnt started insurering the toxic garbage their stock would be in the 20s and no handouts would be necessary.
Sorry but in the grand scheme of things, GM Is a dot on the page, AIG is much much more important, especially to market sentiment.
The point is that how do you feel safer holding gold when if things get that bad, how will you be able to turn it into a tradeable commodity that you can purchase something with?
Rat..dont think of AIG as our life insurance holder (which it is for me actually) that part of their business is doing GREAT.
They are the insurer of the CMOs and CDOs that have imploded in our faces..they go under, NONE of the holders have insurance and if that happens we have a MONSTER mess on our hands.
If AIG were only a generic life insurance company or auto etc, the government would have let them fail..hell if they hadnt started insurering the toxic garbage their stock would be in the 20s and no handouts would be necessary.
Sorry but in the grand scheme of things, GM Is a dot on the page, AIG is much much more important, especially to market sentiment.
Posted:
#31
Things are getting bad, WSC, for sure. But by end of '14, the mess then will make this look like Mary Poppins. We don't have the rampant inflation with 30% unemployment that we'll see in 5-6 years.
The bailout packages have bought us one thing-----time.
In this "time," there will be plenty of trading "rallies." I expect gold to fully participate and I'll sell the bullion that I have as needed.
I don't know what else to tell you, man.
Posted:
#32
Hope you have two safes CC, one prominently displayed with a few coins and some fake jewels inside, and the other deep down, with the real holdings in it. Just in case some character breaks past the barbed wire and mines around yer bunker that is...
And yeah, I do believe as you do in physical gold...I have the odd feeling the likes of GLD will just be stopped in trading and their assets removed if any goverment really got desperate.
Posted:
#33
Yeah, Vermeer, the "GLD ETF" is set up to fcku the little guy----I am sure of that, which is why I want the real thing.
Hell, if I could do it also, I'd buy the damn physical barrels of crude and store them, too. Oil derivatives (ie futures) are there to also fcku over the little guy.
There is now an ETF for everything under the sun, and the adverts for them are all over the place. Tells me one thing------screw job in the end.
I got to take my hat off to you for winning so much with "SKF." That thing scared the bajeezus out of me----and that was back last summer-----scared me so farking bad that I RAN from it at top speed. And now that it is 270ish, up from 100ish back this summer, I feel like the biggest dolt on the planet.
Props to you, man.
Posted:
#34
"Barack Obama" is fortunate that his term ends in 2012 and he'll be long gone by late Januaray '13, when a republican pres will replace him and his entire entourage.
Then when the s--t hits the fan at end of '14, "Obama" won't be blamed-----but gd, his "stimulus package" is as egregious as Paulson's.
I can't decide whose is worse.
Moral of the story-----the USA is void of leadership and is falling off the map at light speed.
Posted:
#38
PS
I think there are a lot of misguided historical comparisons being spread around. The massive destruction of wealth that has occurred has occurred at a particularly bad time for the country. The consumer is tapped out completely, and alas we are simply a consumer economy, one as dangerously dependent on one thing as a simple export economy.
Naturally I hope I am wrong, but the drop in the bucket (hard to think a trillion is that, but 80% of that was misallocated, and it really is a drop when compared to the total losses in equities and real estate over the past two years) stimulus plan, the fumbling and deer in the headlight look of Timmy Geithner and the real nail in the coffin , a truly global collapse that is just now really taking off, are the main reasons for my pessimism.
I think there are a lot of misguided historical comparisons being spread around. The massive destruction of wealth that has occurred has occurred at a particularly bad time for the country. The consumer is tapped out completely, and alas we are simply a consumer economy, one as dangerously dependent on one thing as a simple export economy.
Naturally I hope I am wrong, but the drop in the bucket (hard to think a trillion is that, but 80% of that was misallocated, and it really is a drop when compared to the total losses in equities and real estate over the past two years) stimulus plan, the fumbling and deer in the headlight look of Timmy Geithner and the real nail in the coffin , a truly global collapse that is just now really taking off, are the main reasons for my pessimism.
Posted:
#46
I know Koaj. "Barack Obama" is making me really like W these days.
Got to hand it to you, man, you and Vermeer called this crap 1.5 years ago during subprime----and you 2 were part of the very few who didn't laugh in my face for ranting about bailout packages, socialism, bunkers, et al.
The future of the USA is dismal, to say the least------unless you want to live in Orwell's "1984" world.
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