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ECON Holy Cow! Fed REPO operations sharply accelerating
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  1. #1
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    21 Holy Cow! Fed REPO operations sharply accelerating

    This is today's overnight REPO operations and the 14 day term REPO operations. It's 89 billion dollars today alone in overnight operations and for the 14 day term 62 billion were asked for but only 45 billion approved. These operations are on a very sharply increasing trend.

    2008 kicked off when liquidity dried up and this is starting to make 2008 look puny. They have opened the money spigots now. Tells me that a major financial entity has or is about to go Tango Uniform and they are trying to keep it quiet.

    https://apps.newyorkfed.org/markets/autorates/temp
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    What is the lake of fire? What is it's purpose? Is the lake of fire eternal hell? Is there any hope of escape for those cast into this lake?
    http://bible-truths.com/lake1.html

  2. #2
    I don't know if you saw this --

    https://www.ft.com/content/b5e645ce-...c-bc9acae3b654

    The Federal Reserve surprised some traders on Wednesday by saying it would increase the amount of money it is injecting into overnight lending markets, seeking to avoid a repeat of the cash crunch that sent short-term borrowing rates soaring in September.

    Beginning on Thursday, the Fed will increase the size of its overnight operations for the repurchase or “repo” market, where banks and investors borrow cash in exchange for Treasuries and other high quality collateral.

    The markets arm of the US central bank said it would raise the limit on the amount of cash it will lend into the market to at least $120bn, up from the $75bn it had previously agreed to supply on a daily basis.

    It also said it would boost the amount it lends in the slightly longer-term, two-week repo market to at least $45bn, to cover any cash needs over the end of the month. Previously, the Fed was offering $35bn.

    The dramatic increase in the size of the operations caught some market participants off guard, because the Fed has largely been able to accommodate banks’ demands for its loans on offer recently. Bids have only outpaced what the Fed is willing to supply on two occasions since the beginning of October.

    “This is the first time it feels like they are not responding to the market,” said one repo trader. “I don’t see a reason to upsize the overnight operation so substantially.”

    The move comes two weeks after the central bank announced it would buy $60bn of short-term Treasury bills each month between now and the second quarter of next year, in order to restore the amount of reserves banks hold at the Fed to a level high enough to keep borrowing costs within its target range. To date the Fed has purchased roughly $30bn.

    In September the cost of borrowing cash overnight in the repo market jumped as high as 10 per cent, a roughly fourfold increase from its level the week before.

    The flood of cash entering the repo market from the Federal Reserve has served to dampen concerns that a repeat of the bout of volatility could occur at the end of the year, when banks typically retreat from the market and shrink their balance sheets for December 31 regulatory calculations.

    “The safety net is pretty big at this point,” said Guy LeBas, chief fixed-income strategist at Janney Capital Management. “I think the Fed is going to put an ocean of funding into the market until there is no way for repo rates to rise.”

  3. #3
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    Same topic as 911user's thread of 10/22, but I hope the threads are MERGED rather than this one closed as a dup, b/c this one has some different info and good comments as well.

    And I repeat the questions I asked for the other one:

    So..........any ideas on what Mr. / Mrs. Joe Blow investor (since there is no other vehicle to PUT money in, except the market) should do?

    Sell all stocks/bonds and buy.......land?

    Sell all stocks/bonds and buy.......PM's?

    Sell all stocks/bonds and buy.......preps?


    Other?


    Oh--and live on--what?--in the meantime?
    Be not soon shaken in mind, or be troubled…Let no man deceive you by any means…..
    they received not the love of the truth, that they might be saved….for this cause God shall send them strong delusion, that they should believe a lie….
    Nevertheless we, according to his promise, look for new heavens and a new earth, wherein dwelleth righteousness.


  4. #4
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    other thread link--good comments there---

    http://www.timebomb2000.com/vb/showt...System-Tuesday
    Be not soon shaken in mind, or be troubled…Let no man deceive you by any means…..
    they received not the love of the truth, that they might be saved….for this cause God shall send them strong delusion, that they should believe a lie….
    Nevertheless we, according to his promise, look for new heavens and a new earth, wherein dwelleth righteousness.


  5. #5
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    Quote Originally Posted by Countrymouse View Post

    So..........any ideas on what Mr. / Mrs. Joe Blow investor (since there is no other vehicle to PUT money in, except the market) should do?

    In this environment it's not return on principal but return of principal. This overnight money used to come out of money market accounts and the banks. The banks now are too afraid to lend even overnight so what do they know if they don't want to lend? Folks always need cash on hand for day to day operations but for 'investing' I think it's hard assets. Real estate owned free and in the clear, gold and silver of course and anything else tangible that has real value and no counter party risk. When everything went down last time they started to freeze redemption's when people tried to get their money out. I'd say to be like the banks and panic early this time around.
    What is the lake of fire? What is it's purpose? Is the lake of fire eternal hell? Is there any hope of escape for those cast into this lake?
    http://bible-truths.com/lake1.html

  6. #6
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    Quote Originally Posted by Hfcomms View Post
    In this environment it's not return on principal but return of principal. This overnight money used to come out of money market accounts and the banks. The banks now are too afraid to lend even overnight so what do they know if they don't want to lend? Folks always need cash on hand for day to day operations but for 'investing' I think it's hard assets. Real estate owned free and in the clear, gold and silver of course and anything else tangible that has real value and no counter party risk. When everything went down last time they started to freeze redemption's when people tried to get their money out. I'd say to be like the banks and panic early this time around.
    Countrymouse, thanks for your original question and Hfcomms, thanks for your answer....exactly the info I was hoping to see after reading the threads on this situation.

  7. #7
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    Fed Boosts Amount of Liquidity Offered to Financial System
    Michael S. Derby

    The Federal Reserve Bank of New York has been intervening in financial markets to calm volatility. Photo: Claudio Papapietro for The Wall Street Journal

    The Fed’s expanded offerings of liquidity to the financial system saw strong demand Thursday from eligible banks.

    The Federal Reserve Bank of New York intervened twice Thursday morning with what is called an overnight repurchase-agreement operation and via a 14-day repo operation. The New York Fed had said Wednesday it was raising its minimum offerings for overnight repos to $120 billion from a minimum of $75 billion, with the next two-term repo operation increased to $45 billion from a minimum of $35 billion.


    The repo market shook the financial world in September when an unexpected rate spike choked short-term lending, spurring the Federal Reserve to intervene. WSJ explains how this critical, but murky part of the financial system works, and why some banks say the crunch could have been prevented. Illustration: Jacob Reynolds for The Wall Street Journal

    The Thursday term repo saw dealers submit $62.15 billion in securities and the Fed take in $45 billion in Treasurys, agency and mortgage securities. The overnight operation was also well bid, with dealers offering and the Fed taking $89.154 billion in securities. The Thursday overnight repo operation was much bigger than the one-day operation Wednesday, where the Fed added $49.845 billion in one-day liquidity.

    Fed repo interventions take in Treasury and mortgage securities from eligible banks in what is effectively a loan of central bank cash, collateralized by dealer-owned bonds. The bill purchases permanently add reserves to the financial system and are seen as a more-enduring fix for potential market volatility.

    The expansion of temporary liquidity comes as the Fed is about to meet in a policy gathering next week that is likely to result in a cut in short-term rates. It is also month’s end, when short-term rates often face pressure as banks and companies sort out their financial liquidity needs.

    Write to Michael S. Derby at michael.derby@wsj.com

    https://www.wsj.com/articles/fed-boo...em-11571924640
    What is the lake of fire? What is it's purpose? Is the lake of fire eternal hell? Is there any hope of escape for those cast into this lake?
    http://bible-truths.com/lake1.html

  8. #8
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    Problem is--we're nearing retirement.

    You can live ON land---but you can't live OFF land (as in the sense of using it as a means of exchange).

    And we're getting a little too long-in-the-tooth to "live off THE land"--as in, raise all our own food (even if we had enough land to do so, which we don't). If we were in our 30's, or 40's, then yes--maybe--if my husband and sons were on-board with it--move out into the country, get chickens again, some dairy cattle, fence pastures, build hen-houses, plant gardens and fruit trees and begin preserving food again....

    But now -- well by 5 pm my energy is SHOT, my knees hurt if I stand up too long, what used to be "easy" chores like cleaning my house now take all day and exhaust me--I have to keep sitting down and resting and can't seem to get anything done, and I've noticed it's starting to get hard to remember words and names of things (Oh God PLEASE just let it be not enough sleep, like my family says, and not early-onset Alzheimers).

    So I can't see myself starting all over, homesteading, at this time of my life.

    So while I COULD put my savings into land, or metals---
    what would I LIVE on from day to day?
    Be not soon shaken in mind, or be troubled…Let no man deceive you by any means…..
    they received not the love of the truth, that they might be saved….for this cause God shall send them strong delusion, that they should believe a lie….
    Nevertheless we, according to his promise, look for new heavens and a new earth, wherein dwelleth righteousness.


  9. #9
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    Quote Originally Posted by Hfcomms View Post
    In this environment it's not return on principal but return of principal. This overnight money used to come out of money market accounts and the banks. The banks now are too afraid to lend even overnight so what do they know if they don't want to lend? Folks always need cash on hand for day to day operations but for 'investing' I think it's hard assets. Real estate owned free and in the clear, gold and silver of course and anything else tangible that has real value and no counter party risk. When everything went down last time they started to freeze redemption's when people tried to get their money out. I'd say to be like the banks and panic early this time around.
    Wise words. DH saw it coming last time, and saved our investments doing just what you have mentioned. Cash in hand, hard assets, property, house, and everything else paid off, food /supplies, lots of it, and PM's. We weren't disappointed. Still watching the markets closely this time around, too.
    Sherree

  10. #10
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    Quote Originally Posted by Countrymouse View Post
    So while I COULD put my savings into land, or metals---
    what would I LIVE on from day to day?
    Same that the rest of us do right now.....cash. Keep enough liquid cash for a month or two at a time or whatever you need to pay the bills and put most of the rest into longer term stores of value and liquidate those in the future as needed. Nobody can give an exact answer simply because this is a world wide problem and we've never gone down this road before not even in the great depression.
    What is the lake of fire? What is it's purpose? Is the lake of fire eternal hell? Is there any hope of escape for those cast into this lake?
    http://bible-truths.com/lake1.html

  11. #11
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    Give a listen to the interview linked at http://www.timebomb2000.com/vb/showt...Edward-Griffin! and work out what you need to do in your situation. There is no one size fits all solution to this problem.

    And you will likely need help/family/community to get it done.
    The wonder of our time isn’t how angry we are at politics and politicians; it’s how little we’ve done about it. - Fran Porretto
    -http://bastionofliberty.blogspot.com/2016/10/a-wholly-rational-hatred.html

  12. #12
    I closed a long dormant savings account and pocketed the cash on Tuesday. Now I'm drawing down my checking account balance by paying for everything with my bank card. Usually, I pay for most things with cash, but I've seen the writing on the wall for a long time and this is yet another indicator that things could go critical soon. As many of you know, I'm very big on precious metals, but the fact of the matter is that most people no longer understand gold and silver. Immediately after any crash, cash should reign supreme for a (possibly protracted) period. The great irony of this situation is that the Fed is producing huge quantities of "Dollars" but very little of it is filtering down to main street.

    Best
    Doc

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    The great irony of this situation is that the Fed is producing huge quantities of "Dollars"

    DIGITS.

    Which someone else controls...
    The wonder of our time isn’t how angry we are at politics and politicians; it’s how little we’ve done about it. - Fran Porretto
    -http://bastionofliberty.blogspot.com/2016/10/a-wholly-rational-hatred.html

  14. #14
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    Bill Holter just interviewed on the X22 report spotlight today and talks about today's REPO operations and where it's going. Also talks about the faux impeachment process and other topics. There are a few video drop outs on Bill's signal.

    And for Dennis, Bill does sell pm's through Miles Franklin but most of the interview was not about gold.



    https://www.youtube.com/watch?v=WNLd3ph83cI
    RT 37 minutes.
    What is the lake of fire? What is it's purpose? Is the lake of fire eternal hell? Is there any hope of escape for those cast into this lake?
    http://bible-truths.com/lake1.html

  15. #15
    Quote Originally Posted by Dozdoats View Post
    The great irony of this situation is that the Fed is producing huge quantities of "Dollars"

    DIGITS.

    Which someone else controls...
    Doz,

    Give me credit, brother. Of course I understand this, which is why I put the word in quotation marks.

    Best
    Doc

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    To be on the safe side this time around. We keep everything in rotation. We keep just enough in our checking account to cover our monthly expenses like utilities and insurance. At the end of the month, what's left in our checking account gets transferred into our savings account. Once the savings builds to a certain amount, we pull it out in cash, or buy more PM's. We pay for everything in cash most of the time. I don't trust everything to be tied up in one basket. Most of our holdings are in either cash or tangibles. Always watching the market, and can make changes as we need to.
    Sherree

  17. #17
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    GOLDILOCKS & THE THREE BEARS: a Money Market Freeze, China Trade War or Real Estate


    https://www.youtube.com/watch?v=4toDz5IArmI
    11 minutes

    Lynette Zang on today's news. Lynette works for ITM trading that sells gold and silver.
    What is the lake of fire? What is it's purpose? Is the lake of fire eternal hell? Is there any hope of escape for those cast into this lake?
    http://bible-truths.com/lake1.html

  18. #18
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    The Federal Reserve in Sept and Oct have added over 800 billion dollars to their balance sheet. Soon it will top one trillion! That is on top of all they still had from doing the QE.
    The chart is here..................
    https://www.federalreserve.gov/monet...centtrends.htm

  19. #19
    So what is the consensus as to how this unfolds for regular folks.

    Do all the banks fail in a week or do they death rattle and fold a few per week like back during 2008?
    Do I still have to go to work and hope my check buys something on payday like Weimar?
    Will the cops still have the fuel and manpower to care about what happens to the thieving meth heads down the road?

  20. #20
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    Give me credit, brother.

    Doc, I do give you credit. I was merely expanding on the thought.

    So what is the consensus as to how this unfolds for regular folks.

    Well, we have the known knowns, the unknown knowns, the known unknowns and the unknown unknowns. Where would you like to go from there?

    https://www.youtube.com/watch?v=nAnKdq5Yty8
    The Unkown Knowns (Rumsfeld on Defense)
    RT 01:58

    And I used to work downstream from these people ...
    The wonder of our time isn’t how angry we are at politics and politicians; it’s how little we’ve done about it. - Fran Porretto
    -http://bastionofliberty.blogspot.com/2016/10/a-wholly-rational-hatred.html

  21. #21
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    Quote Originally Posted by Matt View Post
    So what is the consensus as to how this unfolds for regular folks.

    Do all the banks fail in a week or do they death rattle and fold a few per week like back during 2008?

    This is going to be global when it lets loose and not just U.S. centric or overseas. Nobody knows exactly what is going to happen as we've never been there before. I don't know if there even can be any sort of a consensus as most people are totally oblivious to what is happening as the majority was before 2008. The actions that you should take depend on how bad you think it's going to be. Some people see a mild recession and others see the wheels coming off the cart and an event that will make 2008 look like a warm up. I am of the latter opinion. So I prepare for the worst to the best of my ability and hope for the best. If the worst doesn't happen your ahead of the game.

    By 'worst' I mean I am preparing for the banks to shut down and having no access to my accounts or much of any commerce for an extended period of time. By worst I mean I am expecting civil unrest on a scale that this nation has never seen since the first civil war. I work off the assumption that I will be on my own for an extended period of time. That means I have to provide food, water, shelter, heating, security and everything that goes along with that for an indeterminate amount of time. I do what I can and figure that God will take care of the rest. There is really no boiler plate as to what to do because it depends on your particular situation, where you live and what your needs and challenges are may be quite different than mine. I think it's going to be bad when it lets loose, real bad. Just take a look at the unrest going on right now in the population between the left and right and that is with the money flowing and the stores full of goods. Use your imagination as to how the masses are going to react if things are turned upside down. Pray for the best and prepare for the worst. If the worst doesn't happen then that is a plus to be sure.
    What is the lake of fire? What is it's purpose? Is the lake of fire eternal hell? Is there any hope of escape for those cast into this lake?
    http://bible-truths.com/lake1.html

  22. #22
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    Happy Days! We get to live in interesting times!

  23. #23
    I don't think anyone knows what happens but it'll be "interesting" for sure. They've "war gamed" this a lot and it gets messy every time. One book worth reading is: "The Death Of Money: The Coming Collapse of the International Monetary System" by Jim Rickards. He was once one of those doing the war-gaming so he has some inside perspectives.

    One thing I think about gold: we won't be going back to it "formally" because doing so would require the Fed to close up shop and the government to cease doing central planning of the economy - they'd have to give up all their power in that regard. Since when has the government given up power? Nope, not going to happen except as a post-post-collapse kind of thing. Before that I'd bet they outlaw gold transactions (except for the government) and it will become the number one black market means of transaction. Effective yes, but not legally.

    We could also dump our dollar currency and go to Special Drawing Rights (SDRs). See the following: https://www.imf.org/en/About/Factshe...wing-Right-SDR . The government has made plans for this but whether they'll actually do it, who knows?

    Gonna be fun times for sure. Best option for us non-oligarchs is to keep the bills paid as close to zero as possible and store food, water, and medicine or have access to sources of all. You don't want to be in a situation of dire need for as long as possible. Develop some local skills such as repair work or something you can get paid for in "cash" (whatever the local scrip is) or trade for return work. Underground economy will make a resurgence, I'm sure.

  24. #24
    Thanks for the book recommendation..just ordered it and will give a read.
    I have given these scenarios a lot of thought over the past few years...I got caught in the 2008 slowdown and had a car repo'd and came close to losing my home. I hate bankers and lawyers after that experience..especially the salvage debt collectors. May they be shown only the mercy on par with what they have shown others.

    Life is much different now...lessons learned. That said, I am truly praying for a fast implosion, the kind where the cops don't have time to serve civil papers and lawyers are blowing junkies in tha alleys for moldy bread.

  25. #25
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    As much as I come short of fully trusting Rickards, I'd also recommend his newest book, Aftermath.

    https://www.amazon.com/Aftermath-Sec.../dp/0735216959
    Aftermath: Seven Secrets of Wealth Preservation in the Coming Chaos
    The wonder of our time isn’t how angry we are at politics and politicians; it’s how little we’ve done about it. - Fran Porretto
    -http://bastionofliberty.blogspot.com/2016/10/a-wholly-rational-hatred.html

  26. #26
    Being the Biblically minded kinda guy I am........I know the Bible say's, "who will buy my gold and silver" (paraphrased)... Point is, it has no value at a certain point....tie in the mindset that food and water are always the first foremost concerns for anyone....and one thinks when it goes south, it goes south really hard. So many hope to save their assets by owning gold and silver in hand, historically it is a wise move. But, this go around might be quite different.

    My personal thoughts on such things....I'd have some of both if I had the money to invest after I had a significant quantity of food and filters....and guns and ammo, and friends and a fortress. I expect the world to go south in a very hard off the cliff event....when gold and silver could be traded for food without a second thought.... gold and silver are long term. My Biblical Prophetic mind say's there is no long run coming.

    Just saying

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    Noticed Bill Holter stated that if Trump were successfully impeached, he could just run again. Nope, it bans any further public service.
    "During times of universal deceit, telling the truth becomes a revolutionary act." George Orwell

  28. #28
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    Quote Originally Posted by Ractivist View Post
    Point is, it has no value at a certain point....tie in the mindset that food and water are always the first foremost concerns for anyone.
    That point has not been reached in the last 2000 years yet and chances are it will not be in either your lifetime or mine. The issue isn't gold and silver. The issue is life assurance. The naysayers always say you can't eat gold and silver and they are correct. But of course you can't eat paper currency either. You can use paper currency to get something to eat until it becomes useless or until there is nothing in the store to buy and you can do the same with the metals. However acquisition of metals are quite a bit down on the list of what you need and for some people they probably shouldn't have more than a handful of silver perhaps. You need food, water, shelter, heat, security and everything that goes into staying alive and being on your own without having to depend on outside sources for perhaps an extended period of time. For many people there is little funds left to even think about gold/silver. You do what you need to do to prep and be able to take care of yourself and if you have resources left over after doing all of that then you take some of that and get some gold and silver. They are a way of preserving any spare wealth from this present system into whatever kind of a system which might follow.
    What is the lake of fire? What is it's purpose? Is the lake of fire eternal hell? Is there any hope of escape for those cast into this lake?
    http://bible-truths.com/lake1.html

  29. #29
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    Quote Originally Posted by Countrymouse View Post
    Problem is--we're nearing retirement.

    You can live ON land---but you can't live OFF land (as in the sense of using it as a means of exchange).

    ...snip...

    So I can't see myself starting all over, homesteading, at this time of my life.

    So while I COULD put my savings into land, or metals---
    what would I LIVE on from day to day?
    IMO - Until things stabilize in the stock market I would recommend keeping any investable money not already in the stock market in either US Treasuries or in Cd's.

    A 6 month treasury is paying 1.6% and interest earned is free from state income tax.

    Do not go out more then 6 or 8 months in Cd's and do not put all of your money into just 1 bank. A couple of banks scare me due to their loan portfolios and I can see them being forced taken over like happened in 2008. You won't lose money but you may lose your branch and access to it for a couple of days.

    Create a ladder where you have either a treasury or cd maturing every couple of weeks. This provides you better access to your money if an unexpected expense arises

    If you think the whole financial system is going to fall apart worse then in the 1930's or 2008 timeframe where we have a cw2 underway and mzb's riding the range then I'm not sure what to tell you. Else banks may fail and the stock market may crash but the financial system should be around in a somewhat similar manner.

    If the stock market crashes then buy utilities or other known high quality dividend paying stocks. Be aware though that a couple of utilities scare me due to their debt or other internal or external issues


    Again IMO

    tbd

  30. #30
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    Quote Originally Posted by Hfcomms View Post
    You do what you need to do to prep and be able to take care of yourself and if you have resources left over after doing all of that then you take some of that and get some gold and silver. They are a way of preserving any spare wealth from this present system into whatever kind of a system which might follow.
    If the financial system does not crash then gold and silver may not preserve your wealth. Look at the gold and silver charts from 1990 to today. Huge swings in prices. And those prices are largely determined by the paper market and not the physical market.

    Now owning some as insurance makes sense but IMO not as a method to preserve wealth

    tbd

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    While gold and silver prices swing up and down, the value of a dollar always and continually just goes down. Your dollar is worth less every year, every week, and every day.

  32. #32
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    Best thing for us old folks is to plan best we can for our children's survival. Your dead and their alive. Keep them that way.
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    Quote Originally Posted by twobarkingdogs View Post
    If the financial system does not crash then gold and silver may not preserve your wealth. Look at the gold and silver charts from 1990 to today. Huge swings in prices. And those prices are largely determined by the paper market and not the physical market.

    Now owning some as insurance makes sense but IMO not as a method to preserve wealth

    tbd

    We tend to think that the price of metals go up and down. For the most part that is putting the cart before the horse. The value of the currency fluctuates up and down (mostly down) and not the metal. Why? Because gold and silver are money whereas the paper note in your pocket is not money, it’s currency and a debt instrument.

    I’ve often said it that a hundred years ago a one ounce gold coin would buy you a good quality business suit or a beef cow. Today that one ounce coin can still buy you that suit or cow. Even silver as suppressed as it is keeps up. Back in the early 60’s when silver coin was circulating a gallon of gas was 30 cents or 3 silver dimes. At $15 dollar silver three silver dimes can be had for about $3 which today in most parts of the country you can buy your dollar of gas with it. They do hold their value over time regardless of inflation.
    What is the lake of fire? What is it's purpose? Is the lake of fire eternal hell? Is there any hope of escape for those cast into this lake?
    http://bible-truths.com/lake1.html

  34. #34
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    Another $77 billion on the repo market today so far from the Fed.
    What is the lake of fire? What is it's purpose? Is the lake of fire eternal hell? Is there any hope of escape for those cast into this lake?
    http://bible-truths.com/lake1.html

  35. #35
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    May 2001
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    Atlanta, GA
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    Quote Originally Posted by Hfcomms View Post
    Same that the rest of us do right now.....cash. Keep enough liquid cash for a month or two at a time or whatever you need to pay the bills and put most of the rest into longer term stores of value and liquidate those in the future as needed. Nobody can give an exact answer simply because this is a world wide problem and we've never gone down this road before not even in the great depression.
    You're not getting it.

    The "cash" we live on, monthly, COMES, partially, from the INTEREST on our savings.

    As long as that interest came from insured FDIC bank-CD's, I didn't worry---if the FDIC went down, then money itself went down and ALL bets were OFF.

    But there AREN'T any "bank CD's" as a source of viable interest any more.

    The ONLY viable source of interest / dividend money on your money is the slot-machine known as the stock market.

    The ONLY source.

    So--what is this "longer term store of value" you are talking about? And how can they help make up the difference between my husband's salary and mine and the extra money we need to LIVE on every month?
    Be not soon shaken in mind, or be troubled…Let no man deceive you by any means…..
    they received not the love of the truth, that they might be saved….for this cause God shall send them strong delusion, that they should believe a lie….
    Nevertheless we, according to his promise, look for new heavens and a new earth, wherein dwelleth righteousness.


  36. #36
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    May 2001
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    Atlanta, GA
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    Quote Originally Posted by SSTemplar View Post
    Best thing for us old folks is to plan best we can for our children's survival. Your dead and their alive. Keep them that way.
    That indeed is what we are TRYING to do. That is why we are NOT wanting to spend down our principal.

    Remember that two of our sons are special-needs.....one of those two is blind and autistic, and though he's very talented and willing to work, the FEAR and prejudice toward blind workers is REAL and is responsible for much of the 85% unemployment rate for blind people.
    Be not soon shaken in mind, or be troubled…Let no man deceive you by any means…..
    they received not the love of the truth, that they might be saved….for this cause God shall send them strong delusion, that they should believe a lie….
    Nevertheless we, according to his promise, look for new heavens and a new earth, wherein dwelleth righteousness.


  37. #37
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    May 2001
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    Quote Originally Posted by SouthernBreeze View Post
    To be on the safe side this time around. We keep everything in rotation. We keep just enough in our checking account to cover our monthly expenses like utilities and insurance. At the end of the month, what's left in our checking account gets transferred into our savings account. Once the savings builds to a certain amount, we pull it out in cash, or buy more PM's. We pay for everything in cash most of the time. I don't trust everything to be tied up in one basket. Most of our holdings are in either cash or tangibles. Always watching the market, and can make changes as we need to.
    So...you DO have some in the market as well?
    Be not soon shaken in mind, or be troubled…Let no man deceive you by any means…..
    they received not the love of the truth, that they might be saved….for this cause God shall send them strong delusion, that they should believe a lie….
    Nevertheless we, according to his promise, look for new heavens and a new earth, wherein dwelleth righteousness.


  38. #38
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    May 2001
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    Quote Originally Posted by Doc1 View Post
    I closed a long dormant savings account and pocketed the cash on Tuesday. Now I'm drawing down my checking account balance by paying for everything with my bank card. Usually, I pay for most things with cash, but I've seen the writing on the wall for a long time and this is yet another indicator that things could go critical soon. As many of you know, I'm very big on precious metals, but the fact of the matter is that most people no longer understand gold and silver. Immediately after any crash, cash should reign supreme for a (possibly protracted) period. The great irony of this situation is that the Fed is producing huge quantities of "Dollars" but very little of it is filtering down to main street.

    Best
    Doc
    Quote Originally Posted by Dozdoats View Post
    The great irony of this situation is that the Fed is producing huge quantities of "Dollars"

    DIGITS.

    Which someone else controls...
    EXACTLY.

    I've thought of that.

    Which is why even just taking ALL the money out of circulation ... and putting it in the Bank of Sealy so to speak....will not save you, if hyperinflation sets in and today's "dollars" become tomorrow's "cents".......
    Be not soon shaken in mind, or be troubled…Let no man deceive you by any means…..
    they received not the love of the truth, that they might be saved….for this cause God shall send them strong delusion, that they should believe a lie….
    Nevertheless we, according to his promise, look for new heavens and a new earth, wherein dwelleth righteousness.


  39. #39
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    Southwest (enjoy it!)
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    Quote Originally Posted by Countrymouse View Post
    EXACTLY.

    I've thought of that.

    Which is why even just taking ALL the money out of circulation ... and putting it in the Bank of Sealy so to speak....will not save you, if hyperinflation sets in and today's "dollars" become tomorrow's "cents".......
    If there ever is hyperinflation, then tangibles are the only thing that can save you.

  40. #40
    Join Date
    Jul 2005
    Location
    Happy on the mountain
    Posts
    70,309
    CM,

    Go to https://www.amazon.com/Robert-Moriar...rwt_scns_share

    Several books there. Look at https://www.amazon.com/gp/product/15...t_bibl_vppi_i1 first.

    If the man and his methods speak to you, dig in and learn some more on the subject. His web site might help - 321gold.com. OMG, the G word! Will you now shriek in terror and run away?

    All the best to you. Getting out of old ruts is a hard thing to do.
    The wonder of our time isn’t how angry we are at politics and politicians; it’s how little we’ve done about it. - Fran Porretto
    -http://bastionofliberty.blogspot.com/2016/10/a-wholly-rational-hatred.html

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