Donald, Here is the answer to your concern about even a remote possibility of them ever changing the dollar's fiat currency. This came to me before I got up this morning...The experts say that we never forget anything..it's still there in our heads but we forget where we filed it..So I've always known this..just hadn't thought about it for a long time..Here it is:
Think real deeply about this....What is it that makes the dollar the most trusted paper currency in the world. E.g. I have traveled all over the globe and everywhere I have been..foreigners buy 100 dollar bills and squirrel them away.Why? Because other currencies are not trusted but the American Dollar is trusted as rock-solid, .....EVEN BY OUR ENEMIES.. .....THERE IS YOUR ANSWER.....TRUST...If they ever changed the paper currency we now print and stick gadzillions of people worldwide with worthless paper....WE WOULD BECOME LOWER THAN A BANANA REPUBLIC OVERNIGHT...Nobody in the world would ever trust, or buy U.S. Bonds, treasuries, or loan us another dime...
THAT'S WHY IT CANNOT AND WILL NOT EVER HAPPEN.
Donald I have to chuckle at your "Down-to-earth" bare knuckles posts..no frills or fruit salad but right to the point..Going to respond to 2 of your posts here..Subic Bay was my liberty town, but I was in the Intelligence world and our actual sites are never some place you can name..always out in the bush country. My actual base was about 20 miles from Subic..near a village called "San Miguel". My first assignment to Japan in 1956 likewise was not a place you would have ever heard of..about halfway between Yokohama and the Naval Air Base at Atsugi..I worked inside an underground tunnel.
On your note to Denny regarding QCD's, wills & such. I have a felling that you are more knowledgeable than I am in this dept, but I'll throw my hat in the ring anyway..just in case..There's an even bigger chasm between wills, trusts and QCD's..A will has little or no legal standing at all..It simply tells what you would like to happen but very little of the decedents wishes are ever carried out. what actually happens is that a will all but guarantees probate and at the end of the day, people find that there is little or nothing left to distribute toward the wishes of the decedents will because the probate lawyers have systematically stolen/ransacked all the estate's value via $200 per hour fees etc. after which they will distribute the few bucks left to the heirs..A trust is a vehicle which takes care of all this legal stuff..beforehand while you're still living..the only thing missing is your death which will execute the trust. Also ditto for me on the banks..That's the sole purpose of my bank account to cover my monthly bills and use of the ATM. I hate change (coins) because they are worth nothing and putting them in my pockets tend to try to pull my pants down..I throw it all into a coffee canister and when it gets too heavy to move, I break out a new canister. Maybe I'll sell them as boat anchors. A dollar in the parking lot isn't worth picking up anymore.
PT 3: Boy, yahoo don't give you enough space to speak your piece..Think about your own personal situation and the impact a closed bank would have I went through this process several years ago...You may think..not so terrible..I just can't get into the bank but I seldom go in there anyway..I'll just use my credit cards etc..Wrong, wrong and wrong..They won't work either without the bank..Oh well I get thousands each month from my retirement..Wrong Again..WHERE DOES THAT RETIREMENT MONTHLY INCOME GO..To the bank..of course..the same bank you can't get into..My 4 retirement checks were going automatic deposit to my bank and I finally realized that I myself, was no longer personally involved..e.g. My agency automatically deposits my retirement money to the bank..I don't even see the transaction..It's always just there..I swipe my plastic or write checks..If the bank were closed..My retirement would be dumped each month into a bank A BANK I DON'T HAVE ACCESS TO..So several years ago..I changed all that..My retirement income goes automatically to my credit union (Which is not controlled by the fed)..I still use my local bank for living expenses but they no longer get money automatically..I fund that bank account by writing checks on my CU..Get it? If the bank closes it's doors..I can no longer get to the money I have stashed there..BUT THEY WON'T BE GETTING ANY MORE DEPOSITS FROM ME. Think it over..Will such a crisis affect CU's also..It's possible but far less likely..CU's are not under control of the FED..They come under "THE NATIONAL CU ADMINISTRATION" They have many perks banks don't have because they are owned by their depositors..You can't walk into a CU and do business..Members (Depositors) only. They won't loan money to outsiders. etc. BTW, The federal reserve is no more a federal operation than is FEDex. It's owned by private bankers.
Pt 2: I feel that such would be far too complicated to do here in USA..I could be wrong, of course..I WAS WRONG ONCE BEFORE..SEVERAL DECADES AGO..Chuckle, chuckle. On the rare coins.. I would not care to argue the point..just state my opinion for what it's worth..I live by one strict rule..STAY AWAY FROM COLLECTIBLES! Here's why..I myself have bought several full bags of "Junk Silver" which is right now worth roughly 12 to 1 for face value e.g. a pre-64 dime is worth about $1.20 and I have more than 100 lbs of them. It's value is not in the fact that it is a dime..but because it has $1,20 worth of silver content..So it's not a collectible..simply silver which is pre-measured/weighed for exchange..Beyond that..whether you're talking about baseball cards, stamps, or rare coins..it has no intrinsic value..A yoga Bera (sp because I'm not a baseball fan)..but if you have a rare baseball card with his pic on it which they say is worth 5 thousand bucks..YEAH...IF YOU FIND ANOTHER FOOL WHO IS WILLING TO PAY THAT FOR IT..otherwise it's worth no more than an equal size piece of newspaper for starting a fire. For example you come across fools who say I have a 50 thousand dollar stamp collection..Right! Try to sell it and you'll find what it's worth.. Only the good lord knows what lies ahead..The rest of us have to pay our money and take our chances..What you'll see me posting here is where I believe the best chances lie. My personal efforts are directed into covering all bets..e.g. gold, silver, greenbacks and one thing I feel we should try to avoid at all costs..having a fortune tied up in binary codes on a computer somewhere..e.g. Value which is not in your hands where you can control it..Otherwise..you don't have wealth at all..just somebody's word that they are holding it for you..Don't get me wrong..I have plenty of it out there just like that because at this present time..It's the most easily dealt with..But you may see a day when banks are closed indefinitely
Donald: We're on a subject here that I'm very familiar with..and yes, that's what makes a fiat currency a fiat currency..e.g. it's nothing but paper. I have personally witnessed exactly what you speak of. Having lived most of my working life overseas, I've gotten quite an education from experience. In overseas military bases, there's always a black market problem..e.g. The government provides a PX (Post Exchange) whereby service people can buy American Products. The problem comes from the fact that these items are in a foreign country and bypass import taxes..e.g. An American TV or computer etc, might sell in America or at the PX for $500..but for a foreigner to buy it after import taxes..that $500 TV costs $1000 or more..So US greenbacks are not used but the U.S. prints MPC (Military Post Currency) which we use instead of greenbacks. Greenbacks are actually outlawed on military posts. The black market people over time, acquire a stash of this MPC..then bribe someone having access to the PX to buy these things..(American Cigarettes are another big BM item)..I happened to be on the spot in the Philippines in 1962 when they did just what you describe. Around 3 AM one morning, while we slept, all gates to the post were closed..nobody in..nobody out and they changed the currency..Your old dollars were now worthless..They allowed each military member to bring in $500 of your old currency and exchange it for the new version..If you happened to have more than $500..you had to go before a board of inquiry and explain/demonstrate and document how and why you had so much (Remember this was in 62..different figures would apply today). Foreigners would come to the fence and offer 3 or 4 to one for anyone who would exchange it..but of course we were not permitted to go anywhere near that fence. I don't believe this could happen here in USA..for many reasons..For example more dollars are held by foreigners than by Americans..and to do so would be a default cont' .
Donald: You appear to be familiar with these things..As mentioned..I've had my family trust set up for years but I never heard of passing property as you mention, by "Quit Claim"..It makes sense because my properties are placed into my trust via "Quit Claim Documents". My point..My ex..(Of more than 50 years ago) lives on SS in Texas but owns her 50 year-old home which she will want to pass to her daughter..but she is scared to execute anything now for fear of losing her home before she dies..I've offered to pay for setting up a trust for her..but she's skittish (That's why we parted ways long ago) .But based on what you said about your situation..I think I could simply use my quitclaim for my house and work it over for her names n' situation..I know from doing my own for my trust, that it's main authority is to have it witnessed then have it recorded at the country seat courthouse. "The only difference would be that while yours has a clause that you reserve the right to live there until death..Mine has no such clause because it's intent was to place my home into the trust..What more can you tell me about yours?
Donald: I forgot to comment on one other thing you mentioned.."SAFETY DEPOSIT BOXES". It's now illegal to store either cash or gold in a safety deposit box"..Get it..once again..the govt doesn't want you to have any means to hide something where they can't see it. Moreover..I long ago ruled out safety box for anything except documents..Why? Those boxes are not totally under your control..How about if you go for one and find that all banks are closed? It happened in Cyprus. I want mine totally under my control and totally accessible at all times. I have a large heavy duty safe in my home which is built right into the foundation of the house..but I don't store a single dollar in it. I in fact don't even lock it but use it only as a fire-safe. It is concealed..but if a bad guy gets past my security & fire-power and gets the drop on me, then discovers my safe and says, "Open it"..I can say..IT ISN'T LOCKED..and it isn't because there's no money in there. Once he gets my wallet, he has all the money available in my home. For even the creeps on the board, I share these tips because it's going to get nasty out there. I pity the guy who says, "We've never had any problem in our area"..that's bad BECAUSE IT MEANS THAT YOU'RE PROBABLY NEXT! Don't be a soft target..Most people take security for granted..I DON'T and I have several layers of it.
Donald: Sounds like you're pretty savvy on this stuff..BTW..Quitclaim is the way my real estate was placed into the trust..and you're absolutely correct in that brokerage accounts..mine too..have designated beneficiaries to which the accounts go to on death..My brokerage accounts are also "Joint Tenant". Yes, gold can be handled that way and is part of my set-up..An even more simplified way to do an end around..I have for several years now been systematically drawing cash out of my accounts..putting it in $1K packets..first enveloped, then sealed with a food saver vacuum sealed Air is the big spoiler. ..Once it is vacuum sealed that way, the packets should be placed in either fireproof lock boxes (Sentry makes good ones)..I toss a couple of bricks inside with the cash to help absorb heat in case of fire..or use PVC, e.g. take maybe 18 inches of 4 inch pvc..Cap it at one end, and seal the other end with a "Screw out" plug..put a little heavy grease on the threads (Waterproofing), and use a post-hole digger to bury it..BTW..Make good notes of where you buried it, chuckle chuckle. All of these moves keep it off the radar of an every more greedy govt. Lastly, I'll say that I failed to mention one other possibility besides probate and trusts..Every state varies on the amount..but if you have very little wealth or assets, and I had a little bit of dealings with this not long ago for someone..In Virginia for example, it is $60K..If the deceased person's net worth is less than 60k..you can file for a "Probate Bypass", and keep the govt out of your business..That's the rule that likely applies to many here. BTW, my son knows where everything is..It's never been written down..but I used code words which mean something only to him..and have physically shown each stash to him. My point is "No Maps" or directions..only codes. Our govt is a bigger threat than thieves.
The smart ones who have any at all wealth/legacy to leave to their children have likely already figured out what I was trying to tell you..and to the others it matters little. But you probably think that when you die, you'll simply leave a will and your assets will go to whom you name..Nope! That's not the way it works. There are 2 ways, and only 2 ways to pass on your wealth/assets..You can do it while you are living with a "TRUST", or it can be done by lawyers after you're dead (hint you won't be around to supervise) through the probate system. Most people think that a trust is only for rich people..No again. You will pay to have the legal work done on what you leave..no way around it..either to probate lawyers, or to an attorney to create your trust. The only basic difference between the two is when you do it..One is done today..the other is done without you around after you're dead. That's the point of my story about lawyers sucking the blood out of "Allied Nevada" and that's what they will do with your estate..small or big..after you're dead if you don't set up a trust now..My family trust was set up about 14 years ago and it cost me $1600.00..If I had not set it up and let my estate go to probate..the lawyers would systematically sucked hundreds of thousands out and when they finished they wold have left the skeletal remains to my son. It's either now or later..and later the price will be gigantic.
I'll give you a hint of how crazy our economics & Investment world are..I have 2 stocks for which I paid 10 thousand dollars each..That's an easy figure because the way I invested was with what I call investment blocks..which means that 10 thousand dollars is the amount which I feel comfortable laying down to buy an equity..Then if it starts performing..I lay down more of my investment blocks ($10K)..Both of these particular stocks have fallen, and fallen, and fallen and finally into bankruptcy..Yes, I should have sold them long ago but I was curious as to what was going to happen..and I can afford the loss and I was willing to pay to satisfy my curiosity.
Here's my point..one of them "Allied Nevada" filed for bankruptcy around 2-3 years ago somewhere around a point where my 10K investment was worth less than 1K..Then has come more than 2 years of negotiations with the lawyers etc..during which time They have spent hundreds of dollars, just on me by sending me at least a hundred proxy vote, Fedex overnight delivery forms etc. If you don't get it...Here's the point..It's in the hands of the lawyers now..Who do you think is paying to send me hundred dollars of fedex'd forms to sign etc..and the same to hundreds, maybe thousands of other shareholders..That is what happens to an estate/corp etc when it's turned over to the lawyers..There were likely big millions of value still left in the company when they filed bankruptcy..enter the lawyers who started working to enrich themselves on the carcass to wit, my final pay-off which would have been maybe a simple 1 or 2 thousand..will be eaten away by lawyers and eventually I will get a check for maybe 3 bucks. That's our system. Oh, don't worry about me..The investment game is evaluated by not how much you gain, BUT HOW MUCH YOU HAVE LEFT. In my case it was all part of the game.
Donald: Yes that is a real mess over there. It is not as surprising to me however, as it probably is to most because of bible predictions..It describes how Armageddon will shape up and because it does, these things are not surprising because they fall right in line with what it says will happen. No, it doesn't give us all the details, but it does give us a lot of them, and they are all fitting into place with current events. What is more difficult to fathom is how does this jac kass fit into the picture..Is he an absolute don key brain, or is he wise beyond our imagination and is covertly & intentionally taking us down? Either one of those possibilities is worthy of consideration by the wise.
He probably wants to show someone his stamp collection. That's about where we are..e.g. Air Force One is used to aid in his stamp collection.
Yesterday the market had a big day. Reason: It has indications that the fed will not raise rates anytime soon.
What is going on here is "A WAR ON SAVERS". It is to the govt advantage to make citizens spend every dime they make, then borrow more. Why? Because that system permits them to know and see every transaction you make so they know everything about you and if they know everything about you they can better control you.
They hate cash because it permits you to conduct business without their knowledge. No I'm not going to harangue you about this because if you know and understand it and still don't do something about it..you're a lost cause anyway. I had an evil step-mother who had a brother and there was one admirable charismatic I remember about him. In Pineville Ky, he was walking down the RR track and came across a young boy holding a dynamite cap and a rock..Fred asked him what he was doing. The boy replied, "I'm gonna bust this dam thing" Fred said, don't do it, that thing will blow your whole arm off". The kid snapped back at him, "IT'S ONE OF YOUR DAM BUSINESS"..Fred walked on and a minute later heard a big explosion..HE DIDN'T EVEN LOOK BACK! The kid's mother sued him for not stopping the kid..I don't remember the rest of the story, but I do remember that when the judge asked him about it..He said, I did tell him that it would blow his arm off (Which it did), he told me it was none of my dam bushiness..so I took him at his word..NONE OF MY DAM BUSINESS.
This bowhunter 12002 is not the real bowhunter. I don't know all the details and my records are somewhat muddy in this, but a long-time poster on this board..and a good straight shooter, was lancerd1, who is also a member of my board..Something happened around 2 years ago and he lost that ID and came back with bowhunter. I know this person well..he is a very successful businessman who employs many people and I know by the stuff this guy posts that he is an impostor. I was fooled for a long time because I thought it was lancerd1 and tried several times to get a response from him..so I realized that this was not lancerd..one of my first friends on this board of more than a decade ago. There must be some motive why this goon assumed Lancerd's ID of bowhunter..Just want everyone to be aware and treat the situation accordingly. It's obviously one of the creeps that are so abundant on this board..trying to get into your confidence via a lateral ID.
Donald: I know you enjoy the finer things of life. When we lived in Spain 5 years, we were close to France and could fly up there quickly and soak up some of the French Cuisine. Everyone knows about onion soup, but they see it as simply a soup..It can be done with an elegance that makes it a meal. We learned in France. Specifically, I'm talking about "Baked French Onion Soup A gratin". I do the cooking, but my wife has a few specialties and this is one of them..Basically here's how, but of course everyone puts their own signature on it..She cuts up 3-4 while onions into rings (Lots of them)..Put them in a large pot with butter and saute' until you get a little golden brown tinge to the onions..Pour in maybe 3-4 cans of beef broth. and cook for a bit..I think she puts in just a small dash of "Kitchen Bouquet. That makes a huge container..usually enough for 3-4 meals for the 2 of us..Now I make my own home-made croutons..by cutting thick slices of french bread..Then I spray both sides of each slice with olive oil..this is both for taste and also to somewhat waterproof the bread and toast it on both sides. Now put a slice or two of these croutons in the bottom of a brown earthen bowl (Hint..first spray the bowl with olive oil, and it will help with clean-up)..add soup, then top with slices of swiss cheese..and bake it until the cheese melts..This is an elegant, delicious dish but there's no elegant way to eat it because there no other cheese as stringy as that baked swiss..you have to fight it but it's a wonderful way to have lunch. Of course with a glass of Cabernet' Sauvignon You can either put slices of the croutons under the cheese as it bakes..or I like best to add the baked dry croutons as I eat so they stay crunchy.
Smart People are pulling money out of banks because the govt and the fed hate cash for numerous reasons, one of them being, "BECAUSE THERE ISN'T ENOUGH CASH TO GO AROUND"! Here's another one. I have a brother-in-law in Ky. who's wife has gone into dementia. I won't go into the issue of why you can't deal with dementia at home and in fact at some point authorities will forcibly take the sick person from you and place them in a home where they can be cared for by professionals. Here's the problem. Check it out for yourself..Google nursing homes and you'll find that they charge 10-20 thousand per month. If your loved one winds up in one..they will systematically take everything you own except the bare minimum you need to live. How do banks figure into this..THE GOV KNOWS WHAT MONEY YOU HAVE AND WHERE IT IS..THEY CAN TAKE IT. But if you remove your money from the bank and store it in cash..they have no way of knowing what you have or where you keep it. That's why they hate cash. The same will occur when you die and will your money to your children..Nope, the gov wants a big slice of that also..IF THEY KNOW HOW MUCH AND WHERE IT IS, They'll take it. These are some of the reasons that people with money are removing their stash from the bank, and since there are simply no advantages or reasons to keep it in the bank today..It's a "NO-BRAINER".
Guess I'm way ahead of you..I have a number of Lennies on ignore. On obama in Syria, I don't think he has ever entertained an idea of doing anything..His usual response to such catastrophic issues is to go play a round of golf.
Just turned on the tv at 4:10 PM and WOW, bet the Russians are trembling in their combat boots now..Our president..is making a speech about the situation..Putin will probably immediately pull out all the troops and equipment from Syria and offer sincere apologies for having crossed our Red Line..That will teach them not to mess with POTUS. What a leader! Don't it make you just want to stand up and sing the Star Spangled Banner. Don't mess with us..our leader has plenty more speeches in his quiver.