Mon, Sep 22, 2014, 5:07 AM EDT - U.S. Markets open in 4 hrs 23 mins

Recent

% | $
Quotes you view appear here for quick access.

Fifth Street Finance Corp. Message Board

  • thewisejman thewisejman Sep 18, 2013 3:10 PM Flag

    So called experts

    had been predicting a FED taper of 10B will be announced in this Sept. FOMC meeting and predicted that GOLD will drop like a rock. Well, they are all wrong and GOLD and silver shot up afterwards. That shows us to just ignore all these experts and invest in what we believe are good valued and hold it until they become overvalued. I am trying to remind myself of this simple fact. The FED decided not to taper this month, to me that is not necessarily a GOOD sign, that means they will probably not taper on October either since the next scheduled FOMC meeting will be on December. The longer this drug addiction (on FED money) continues, the bigger the mess it will be.

    Interest rate will probably be dropping right now, I guess the FED really worried about the housing market recovery. Wait till the 10 year treasury rate drops some more, it will be then time to load up on TBT and TBF. In the long term (five years the most), interest rate really has nowhere to go but up. You cannot have both precious metal and gold prices going up but no inflation, interest rate will have to be raised to combat inflation. The FED has put itself deeper in the hole and may not be able to get out. If Bernake will not start tapering before he leaves on Jan., 2014, it will be a BIG mess for his successor to clean up. I better start buying more silver and gold coins. I already bought three silver mint state Morgan and Peace dollars this week. If we will naively in believing there will be no inflation which according to the FED, it is well under control, we are greatly mistaken and ignorant. If you have ever lived oversea for even a short period of time and see how fast prices of everything could go up, you may understand that inflation can indeed pop up very very fast. If you want to know how bad a country's money (currency) has devalued because of inflation, just look at the metal they used to make their coinage.

    SortNewest  |  Oldest  |  Most Replied Expand all replies
    • The great Romans used to make their coinage with silver, then started adding other base metal (such as copper, tin) to reduce the silver content in their coins. We used to make most of our coins in 90% silver and then we replaced it with copper-nickel. The penny was used to be made of copper and was very very large. Today each of this large Cent in circulated condition is still worth about $6 or more. Then we stopped making our pennies with copper by 1982, replaced the metal with copper plated zinc. (if kids swallow these new pennies, they will be in troubles.) Unfortunately, now even price of zinc that was used to make the NEW penny costs more than 1 penny and the US Mint is now looking for other cheap metals to make the penny. I suggest using paper because if the paper penny crumbles, then the US government will at least earn one penny. Canada had already stopped making their pennies and stopped printing their one dollar bills. We had tons of one dollar coins sitting in the mint vault because nobody wants it, unfortunately the Mint cannot destroy them because every time they minted a dollar coin they put down about 90 cents or more profit on their book. If they destroy them, they will have to claim big losses.

 
FSC
9.42-0.10(-1.05%)Sep 19 4:00 PMEDT

Trending Tickers

i
Trending Tickers features significant U.S. stocks showing the most dramatic increase in user interest in Yahoo Finance in the previous hour over historic norms. The list is limited to those equities which trade at least 100,000 shares on an average day and have a market cap of more than $300 million.