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mikebart101
Bromden



Registered: 08/01/06
Posts: 619
Loc: New England
Last seen: 11 years, 5 months
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Calling for Economics Experts
#7591817 - 11/03/07 05:03 PM (16 years, 2 months ago) |
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I have a substantial amount of money and looking to invest most of it. I was going to open an ING account because the 4.5% interest is phenomenal but the status of the dollar is scaring the hell out of me, and I do not want to lose out on my hard work.
I am considering buying gold bullion. Is this a good idea?
-------------------- So we finish the eighteenth and he's gonna stiff me. And I say, "Hey, Lama, hey, how about a little something, you know, for the effort, you know." And he says, "Oh, uh, there won't be any money, but when you die, on your deathbed, you will receive total consciousness." So I got that goin' for me, which is nice.
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Madtowntripper
Sun-Beams out of Cucumbers



Registered: 03/06/03
Posts: 21,287
Loc: The Ocean of Notions
Last seen: 5 months, 23 days
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Re: Calling for Economics Experts [Re: mikebart101]
#7591903 - 11/03/07 05:41 PM (16 years, 2 months ago) |
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If you have a substantial amount of money, you should talk to an accountant or a banker, not the Shroomery.
-------------------- After one comes, through contact with it's administrators, no longer to cherish greatly the law as a remedy in abuses, then the bottle becomes a sovereign means of direct action. If you cannot throw it at least you can always drink out of it. - Ernest Hemingway If it is life that you feel you are missing I can tell you where to find it. In the law courts, in business, in government. There is nothing occurring in the streets. Nothing but a dumbshow composed of the helpless and the impotent. -Cormac MacCarthy He who learns must suffer. And even in our sleep pain that cannot forget falls drop by drop upon the heart, and in our own despair, against our will, comes wisdom to us by the awful grace of God. - Aeschylus
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mikebart101
Bromden



Registered: 08/01/06
Posts: 619
Loc: New England
Last seen: 11 years, 5 months
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I am just wondering if precious metal coins would be a smart insurance policy? I have been reading up on some old posts regarding this topic but they are a year old and the prices have shifted significantly.
-------------------- So we finish the eighteenth and he's gonna stiff me. And I say, "Hey, Lama, hey, how about a little something, you know, for the effort, you know." And he says, "Oh, uh, there won't be any money, but when you die, on your deathbed, you will receive total consciousness." So I got that goin' for me, which is nice.
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DieCommie


Registered: 12/11/03
Posts: 29,258
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Re: Calling for Economics Experts [Re: mikebart101]
#7592054 - 11/03/07 06:42 PM (16 years, 2 months ago) |
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There is a subset of people here on the shroomery that claim the sky is falling and that somehow precious metal is the only thing worth investing money in. I would not give this group any credence.
If you are talking well over 6 figures to invest, I would consider spreading it around. A small portion in precious metals, a small portion in various currencies, a portion in markets around the world, and a portion in land.
If you are talking a smaller amount like around 6 figures or less, I would just put it into land/a house.
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zorbman
blarrr



Registered: 06/04/04
Posts: 5,952
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Re: Calling for Economics Experts [Re: mikebart101]
#7592610 - 11/03/07 09:17 PM (16 years, 2 months ago) |
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I can only tell you what I am doing. Anyone can give anyone else investment advice because they are not the person involved.
About three years ago I developed, refined, and implemented my current investment strategy. It has served me well. This information can be yours for only $19.95 a month!! Just kidding. 
About two thirds of my investment money goes into silver and gold (in that order). It further breaks down into one third of that being in silver and gold mining stock juniors with metal in the ground (as opposed to exploration companies).
I own quite a bit of Great Panther Resources- a silver mining junior with a rare almost pure silver play operating in Mexico. For gold- Northern Star Mining, a gold junior.
The remaining two thirds allotted to silver/gold is in the form of physical bullion. I see you are concerned about the dollar, as you should be. This is the best hedge there is against a falling dollar as many people will discover to their horror too late.
When the dollar inevitably crashes (as all fiat currencies do eventually) you will be glad you are holding physical silver and gold as opposed to paper promises. Of course you will need conventional currency in the meantime.
The remaining two thirds goes primarily into energy stocks: petroleum companies, petroleum support industries, some speculative alternative energy companies and utility companies which pay a regular dividend.
So in short, they key word in the coming decades which will be on everyone's lips is ENERGY. Get ahead of the curve and reap the rewards.
-------------------- “The crisis takes a much longer time coming than you think, and then it happens much faster than you would have thought.” -- Rudiger Dornbusch
Edited by zorbman (11/03/07 09:48 PM)
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