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lquadland10 (< 20)

I would love you thoughts

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18

July 14, 2011 – Comments (5) | RELATED TICKERS: GS , AG , GLD

I am still buying gold and silver. I can't retire at the time I was supposed to retire. Regan kicked the can down the road by just rising the debt limit. Left or Right have money forceably taken out of our pay checks that many will never see because they die before retirement age and the adult children will never see it like they would a 41 k plan. How flush would this amount of money be with compounded interest in a money market account? With Frank Dodd the Congress invented about 347 trillion worth of new derivatives. Glass stegial worked for many decades until Congress came up with a new plan. Then housing crash and a new new plan. Instead of going back to the one that worked.Should we raise the debt limit? When we had small debt we paid 18% interest and the fed got about 3 trillion a year. Now we have 0% interest and large debt and the fed gets about 3 trillion a year. Never fight the fed. They will always get their money. Unless............... we end the fed and print our money. Well pres Kennedy almost got us out of having a fed with executive order 11110 printing our own silver dollar  but then he was killed and the dollars went where? Money out of thin air. We are broke. From what I can figure out in the history of the USA we only had one year that we did not owe money but I have been wrong before. Even if we pass the Debt Limit will we still default on the debt? If gold silver food and oil goes higher and more rules and regulations this country just might default. I thought we should not save the banks fannie freedie gm ge and aig. Oh well. I think we should just declare bankruptcy and be done with it.  Anyway what do you think about Ron Paul is saying

http://www.bloomberg.com/video/72444680/

 

5 Comments – Post Your Own

#1) On July 15, 2011 at 12:15 AM, ikkyu2 (99.13) wrote:

Apparently you're a working stiff, because you can't retire at the time you were supposed to retire.

Where did you get the idea that us working stiffs were supposed to set policy for the bankers and government officials that run this system?  That's never been true in the past and it's not true now.  Stick to worrying about things you have some control over - you'll sleep better. 

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#2) On July 15, 2011 at 9:21 AM, djemonk (< 20) wrote:

While I totally agree with you that We The People are getting screwed by the politcians we elected, the reality is that, as investors, our job is not to forumlate emotional opinions but to look rationally at the situations and make the most of them.

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#3) On July 15, 2011 at 10:45 AM, lquadland10 (< 20) wrote:

ikkyu2 you are right. Oh I am not worrying. I sleep very well.I think of the Doris Day song. What will be will be. Oh and I left out under Regan I ended up having to work a few years longer under their lets fix things and a couple of decades later here we go again. 

I guess that because just because it has never been done in the past does not mean that us ( you and me ) we the people one day will wake up and we can change it. As for control it is just an illusion that even bankers have. There is no control. Just give me a windmill to tilt at.

djemonk. I agree. Now with that said. The debt limit goes up. Then the question is when and how much will we end up owing. What parts of the Country will we sell off to pay the debt? Just sell one State? Parts of several states? Or what parts of gov could we just end. EPA? Education Department? Social Security?  Personally I would give up SS if I could put the money they force me to pay the gov. into a Roth IRA. I still have 20 years before I can retire at 72. Medicare. Yep. When the gov sets limits on a product you have oh what is it called price fixing? Something like China does for Gasoline. We do that with HUD. Medicare and everything thing the gov has a hand in to help the poor. 

BEIJING - The US' sovereign credit rating is likely to be downgraded regardless of whether the US Congress reaches an agreement on raising its statutory debt limit, Chinese rating agency, Dagong Global Rating Co Ltd, said on Monday.

"If the debt limit is raised and the public debt continues to grow, it will further damage the US' debt-paying ability, which is a key factor in Dagong's evaluation, and we will consider lowering its ratings accordingly," said Guan Jianzhong, chairman and CEO of Dagong.

"If the raised limit fails to pass and the US faces default, the rating will be immediately and substantially downgraded," he said.

According to Guan, the downgrading is really just "a matter of time and extent".   ect.ect. ect.......

The top 15 debtor nations, all of which are developed countries, account for more that 90 percent of the credit resources globally, yet only contributed 3 percent to global economic growth the year before the 2008 crisis.

Full article here. http://www.chinadaily.com.cn/cndy/2011-07/13/content_12889286.htm

Just wondering. Collecting Ideas and seeing how other people think and view the world. Thank you both for taking out time to tell me. 

 

 

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#4) On July 19, 2011 at 1:34 AM, ikkyu2 (99.13) wrote:

Personally I would give up SS if I could put the money they force me to pay the gov. into a Roth IRA. 

Oh, didn't you know?  That's already in place for the people who matter - high level academic and government employees.  When I worked for University of California as a professor I didn't pay in to Social Security; instead, 7.6% of my paycheck got contributed into a "defined contribution plan" administered by Fidelity.  I got to pick what it was invested in.   I was very junior but the real players got 403(b) and 457(b) plans as well, many dozens of thousands of dollars a year.

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#5) On July 19, 2011 at 2:10 PM, lquadland10 (< 20) wrote:

no ikkyu2 I did not know. I did know that teachers had to opt into the pension plan instead of SS. That is what my mother had to do. So not all people put in or take out of SS. Yep. It is a good thing that I have my 401 k plan at work and I squaral away my savings and silver. Can't afford gold. I was lucky to buy quite a bit when it was 5.00 more or less. Comes in handy when I need to sell a little bit for medical which is another killer.

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