Is the FED buying Treasuries to stimulate the economy, or is the US running out of lenders? The auctions are reported to be over-subscribed, but that could be a scam. Perhaps the big banks are buying with Fed money. Why would anyone want the US dollar if it's going down, and has a low yield.
Yesterday around noon, Cramer admitted that his entire retirement account is invested in gold mining stocks. I believe he is also a closet gold bug. Yesterday was my best paper gain I've ever had, thanks mainly to gold/ silver stocks, mutual funds, and ETFs. I have a low bid in for SIVR, but it's run away from me. GDXJ is hot again and my $3000 loss is now a $4000 gain.
I expected gold/silver to drop today, but it's still climbing. the Canadian, and Aussie dollar are up too. I wish I didn't sell the bulk of my FXA a month ago.
Well, I still see no reason to diversify. Gold and energy have worked now for me for 10 years, and I expect that trend to continue.
Friday, November 5, 2010
Thursday, October 21, 2010
confessions of a greedy old bastard
Damn, I bought 1000 shares of GDXJ on Friday and now I'm down about $3,000.00. Oh well, It will come back.
You know, it's easier to be a GOB (greedy old bastard) than to raise good kids and have a successful marraige. that being said, YOU may be a GOB if you do the following:
1. Started out being a greedy young bastard (GYB)
2. think more about money than you think about sex
3. Making $1000 or more on a stock trade IS better than sex
4. drive a 10 year old car ( or older)
5. hate debt
6. have taxes as your biggest expense (maybe health insurance too)
7. spend too much time watching CNBC
8. Scream at the tv "SHUT UP LARRY " (Kudlow that is)
9. save the maximum amount in your 401K , IRA, and company stock purchase plans.
10. keep looking for more ways to save money
OK, There you have it. If you have any of these symptoms, you may be a GOB. There are more symptoms, but that will do for now. Remember, It's not what you make; it's what you save-no matter how much you earn. A man is rich in porportion to what he can live without.
You know, it's easier to be a GOB (greedy old bastard) than to raise good kids and have a successful marraige. that being said, YOU may be a GOB if you do the following:
1. Started out being a greedy young bastard (GYB)
2. think more about money than you think about sex
3. Making $1000 or more on a stock trade IS better than sex
4. drive a 10 year old car ( or older)
5. hate debt
6. have taxes as your biggest expense (maybe health insurance too)
7. spend too much time watching CNBC
8. Scream at the tv "SHUT UP LARRY " (Kudlow that is)
9. save the maximum amount in your 401K , IRA, and company stock purchase plans.
10. keep looking for more ways to save money
OK, There you have it. If you have any of these symptoms, you may be a GOB. There are more symptoms, but that will do for now. Remember, It's not what you make; it's what you save-no matter how much you earn. A man is rich in porportion to what he can live without.
Sunday, October 17, 2010
what to do now
I just watched another piece on TV about "foreclosuregate" and don't know how to protect my assets if/when this becomes a crisis. Are we really heading for a collapse? Are the banks insolvent? Is the dollar doomed?
Jim Cramer says diversify, but what good is that if the stock market crashes and takes all sectors with it. I feel deep down that gold, silver and energy will fair well over the long term, but maybe a correction is over-due now, and all will be cheaper in the weeks ahead.
I know I'm a greedy old bastard, but I started driving a truck 39 years ago for 2 dollars per hour. I've saved every payday , and now or soon, those saved dollars may turn into dimes in terms of purchasing power. I must admit I was scared into saving. In 1980 I got laid off and although it only lasted 2 weeks, I thought I'd be poor again. My grandmother gave me a book she read called Crisis Investing by Douglas Casey. He presented a senario of a "Greater Depression" in our future. It scared the shit out of me!
I hope there are readers who can contribute to this blog with ideas to help all of us survive the financial mess I believe is ahead of us. More later
Jim Cramer says diversify, but what good is that if the stock market crashes and takes all sectors with it. I feel deep down that gold, silver and energy will fair well over the long term, but maybe a correction is over-due now, and all will be cheaper in the weeks ahead.
I know I'm a greedy old bastard, but I started driving a truck 39 years ago for 2 dollars per hour. I've saved every payday , and now or soon, those saved dollars may turn into dimes in terms of purchasing power. I must admit I was scared into saving. In 1980 I got laid off and although it only lasted 2 weeks, I thought I'd be poor again. My grandmother gave me a book she read called Crisis Investing by Douglas Casey. He presented a senario of a "Greater Depression" in our future. It scared the shit out of me!
I hope there are readers who can contribute to this blog with ideas to help all of us survive the financial mess I believe is ahead of us. More later
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