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Thread: Stacking physical cash

  1. #111

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    Beans and rice and something to wash it down.

  2. #112

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    Quote Originally Posted by Karlus View Post
    Not sure, but im pretty much all out at this point. Long ATM lines and $300 daily limits are what have me worried.

    Just not really predictable at this point.

    I do think everyone and their brother will be running to the USD when TSHTF.

    Question is when it hits, what to buy with physical cash??
    Great question. Not sure.

    First, get rid of all your debt. Then worry about what to buy.

  3. #113

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    I thought I would bring this up again, since a smell a whiff of DEFLATION in the air.


    Plus, my friend Bodieghost is yelling to get out of the water. So, I assume he has smelled something too.

  4. #114

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    Quote Originally Posted by Atlas Shrugged View Post
    So, I am now down to 47K in mortgage debt. We are living extremely sparsely (although I would like to get rid of the cell phone and cable, my sweety will not go that far). As a reminder, in July 2011, I had $286,000 in debt.

    It can be done.

    Right now stacking cash and paying down debt. I have saved almost 50K in interest (if I paid minimum payments).

    Plan is to be debt free within 12 months. There is a storm coming. I think PMs will continue to get hit hard the next 6-9 months. I continue to buy a little here and there, but for the most part this is the plan.

    I want to be debt free prior to the storm hitting. I am convinced that deflation will override all of the debt, it is just a matter of time.
    Whoa Nellie, less than 14K left on my mortgage.

  5. #115

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    Quote Originally Posted by Atlas Shrugged View Post
    Whoa Nellie, less than 14K left on my mortgage.
    Sorry, coming into this thread late...have you thought about a re-fi? Rates are low. You could reduce your interest payment without having to continue cutting back on fun stuff. Manageable levels of debt is not a bad thing. Aggressively paying down debt when it is cheap seems like a counter intuitive move....
    Last edited by Ryanferr; 10-01-2013 at 02:38 PM.
    The answers are in the data

  6. #116

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    Quote Originally Posted by Ryanferr View Post
    Sorry, coming into this thread late...have you thought about a re-fi? Rates are low. You could reduce your interest payment without having to continue cutting back on fun stuff. Manageable levels of debt are not bad. Aggressively paying down debt when it is cheap seems like a counter intuitive move....
    Just my " 2" cents but true, maybe it is NOW the moment to get into a LOOONG debt at a LOOOW fixed rate; buy a cozy fine place and pay back with your future of dwindling value fiat pension,

    Golditiki +++
    if 1 oz of gold is heavier THAN 1 oz of silver, THEN you have a problem

  7. #117

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    Quote Originally Posted by golditiki View Post
    Just my " 2" cents but true, maybe it is NOW the moment to get into a LOOONG debt at a LOOOW fixed rate; buy a cozy fine place and pay back with your future of dwindling value fiat pension,

    Golditiki +++
    The problem with this thinking is that you can never tell when unemployment strikes or your business income goes south... Unemployment increases during a deflationary/depressionary time.

    The other problem is that during the depression many banks went bankrupt and people lost their money. I imagine the collateralized debts were re-sold to other banks however. You wouldn't want to still have your debts but no money to pay them off.

    And in a deflation/depression, items will cost less in the future.
    Legal Disclaimer: I am not a doctor, nor do I play one on TV.

    "It's tough to make predictions, especially about the future." -- Yogi Berra
    A variant of this has also been attributed to physicist Niels Bohr, and others.

    "Tis against some menís principle to pay interest, and seems against othersí interest to pay the principal." -- Benjamin Franklin

    The School of Hard Knocks is where you get the lesson after you fail the test.

    Book title: "The Best Way to Rob a Bank Is to Own One"

  8. #118

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    Quote Originally Posted by WhatsUpDoc1958 View Post
    The problem with this thinking is that you can never tell when unemployment strikes or your business income goes south... Unemployment increases during a deflationary/depressionary time.

    The other problem is that during the depression many banks went bankrupt and people lost their money. I imagine the collateralized debts were re-sold to other banks however. You wouldn't want to still have your debts but no money to pay them off.

    And in a deflation/depression, items will cost less in the future.
    true but a) i get a pension b) deflation might continue, but somewhere one has to take a decision.

    Golditiki +++
    if 1 oz of gold is heavier THAN 1 oz of silver, THEN you have a problem

  9. #119

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    Planning for deflation is probably a losers bet. The Fed has made it clear it will go to hell and back to prevent it.
    The answers are in the data

  10. #120

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    Quote Originally Posted by Ryanferr View Post
    Planning for deflation is probably a losers bet. The Fed has made it clear it will go to hell and back to prevent it.
    Planning for unemployment by having 6-12 months of living expenses is prudent.
    Legal Disclaimer: I am not a doctor, nor do I play one on TV.

    "It's tough to make predictions, especially about the future." -- Yogi Berra
    A variant of this has also been attributed to physicist Niels Bohr, and others.

    "Tis against some menís principle to pay interest, and seems against othersí interest to pay the principal." -- Benjamin Franklin

    The School of Hard Knocks is where you get the lesson after you fail the test.

    Book title: "The Best Way to Rob a Bank Is to Own One"

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