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  • eggsnham007 eggsnham007 Jan 24, 2008 12:15 PM Flag

    The FIX is Worse Than The Problem

    " the smart thing to do is to load up on long term debt now at relatively low interest rates and pay it back with cheaper dollars! Borrow to buy Gold"

    From what I'm hearing the banks are increasing their lending standards? Not sure it will be that easy to borrow money from a bank in order to purchase gold or other commodities. Seems like a smart hedge if banks permit it.

    Duck has been bragging over the past few years that that's what he's been doing. He's purchased silver or gold with the banks money at a 0% rate. Now that's what I call the deal of the century.


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    • QWAK,eggs,Actualy I did "IT" mostly as a DEMONSTRATION to others, NOT to get over on the BANK. Shure I could have realy gone HOG WILD but did NOT as it would not fit my chosen paradign of balance and avoiding GREED.

      I was trying to help others ESCAPE DEBT SLAVERY, how ever it was like a mouse snatching the CHEESE out of a TRAP in that IF you missed one payment or were LATE the TRAP slamed shut and the intrist rate went from ZERO or 4% to 28% so it was NOT a totaly RISK FREE action.

      Buying some PMs as I could from living as cheeply as I could ,was how I started and continue to do. What I did was sort of what I called at the time "FORWARD SAVING" in that I barrowed what I planed and intended to spend on PMs then bought it EARLY,made all the minium, payments and in the last month payed off the remainder of the loan.

      In the case of SILVER in less than 9 mo. SPOT price went from under $7.00 to over $15.00 :) When I payed the CC company it did almost feel like I was STEELING but then the BANKERS had set a TRAP which many did NOT escape from and are still paying for VACATIONS and stuff rhey realy did not NEED but just WANTED!

      the DUCK


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