# Tomorrow will be very interesting...



## invision

Reading this article on Reuters - http://www.reuters.com/article/2013/06/19/us-markets-forex-idUSBRE95900820130619

I am wondering if Ben B has finally realized the depth of the hole he has dug the US into.... One wrong word could send all of the world's market into a selling frenzy it seems... And until he can figure a way out, I don't see how we can stop QE3, but I also wonder just how much more debt the FR can take on.... Until that bubble pops...


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## Tweto

When the rumor the Bernanke would start tapering the markets dumped on Monday, but almost as fast the markets took off again. Very strange!

I agree today (Wednesday) will be very interesting.


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## Hooch

are any of you all familiar with King World News...I like to read the interviews daily of the folks that they have on there..its been very interesting to see over the past year or so how the general tone and direction of the interviews and statements. Its gone from how to make money and making the best of opportunities to increasingly how to just get the hell out n protect you weath over this last yearish or so....anyways ..you all seem like you might find the site interesting too...cheers


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## LincTex

The only reason the dollar hasn't collapsed yet:

1) The abundance of people are ignorant
2) People still trust the dollar. See #1.

Wow, it's all hanging on by a thread!


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## Dude111

Most people have been lied to and because they have been reprogrammed by the elite,they are the mindless pigeons they have become!!


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## helicopter5472

Just Look At Me Now.....Down goes the stock market....


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## Magus

-200 points as of now[closing.]


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## HarleyRider

A major market collapse is inevitable, and the US Dollar will only be good as a substitute for toilet paper. I have been preparing for this scenario... I hope I am wrong, but I seriously doubt it.


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## LincTex

helicopter5472 said:


> Just Look At Me Now.....Down goes the stock market....


My corp lost about 2% on stock prices today, about $1.50 a share or so. I hope that's all for now. Hopefully, the Paris air show sales should help keep it from dropping much.


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## BillS

LincTex said:


> The only reason the dollar hasn't collapsed yet:
> 
> 1) The abundance of people are ignorant
> 2) People still trust the dollar. See #1.
> 
> Wow, it's all hanging on by a thread!


The velocity of the dollar continues to decline too. That's a big help.


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## Marcus

BillS said:


> The velocity of the dollar continues to decline too. That's a big help.


Yep. Once it goes back to a more normal level, things will head south quickly.


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## partdeux

and for those China is king supporters, we're now finding out that china has been making up their growth numbers.


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## nathan

Guess I better buy new troybilt while my dollars are good


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## Tweto

This should be a clue that the markets are totally dependent on the FED. I was watching Bernanke's speech while the markets dumped. I agree that this could be it. Next stop DOW 6000. We will probably see some volatility for a few weeks and then BAM!

I have been selling equities for a few weeks and just have 2 stocks left to sell. I will watch the market Thursday and Friday and see if ether of them goes up so I can sell, if not I will take the lose.


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## Immolatus

Lets see how the Asian markets react! Nikkei down 1.9% as of now. This should get interesting.
http://www.zerohedge.com/news/2013-06-19/bernanke-soaring-interest-rates-we-were-little-puzzled


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## Marcus

Tweto, You might want to wait until next Tuesday since Tuesdays are getting known as no dip Tuesdays.
http://video.cnbc.com/gallery/?video=3000168539


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## Dakine

you cant EAT tools. You should already have them! 
you cant DRINK ammo (if you can find that on the shelves)


Seriously... what do you need to survive? for you and your family?

assuming you have air to breath, water and food would seem to be the next most important things, and yet people want to buy... GUNS!!!! but they dont have any ammo, they only have part of a gun, they dont know how to use it...  

basicaly... we're ****ed.


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## Woody

I agree the stock market has nothing to do with reality, hasn’t for many years now. If you have watched since 2008, it all hinges on what the F3D says. Well... I take that back, right at the crash it was fluctuating a few hundred points every day, up then down, down down, up, up up… After regular investors gave their money to the big boys it has all been their game.

I believe what is propping up the economy now is folks who are thinking like us, spend while the spending is good. Some folks are spending on going out to dinner and fancy cars, others are spending on durable goods and PM’s.


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## invision

Dakine said:


> you cant EAT tools. You should already have them!
> you cant DRINK ammo (if you can find that on the shelves)
> 
> Seriously... what do you need to survive? for you and your family?
> 
> assuming you have air to breath, water and food would seem to be the next most important things, and yet people want to buy... GUNS!!!! but they dont have any ammo, they only have part of a gun, they dont know how to use it...
> 
> basicaly... we're ****ed.


Somewhat true... I have all the guns I need now, and the ammo... I have a place that has .223 and .22LR were I can get 1000 rds every month... They are keeping each for me, knowing i will be in on the 2nd Tuesday of every month... as i have been there for the last 3 months in a row.... As for food and water I am setup for over a year, and just found a guy where I can get some animals - chickens, rabbits, and goats - they are local homesteaders and same mindset - so this would be right as SHTF

What shocked me this AM was the fall in silver... Damn below 20!!! All markets are down and PMs fell sharply too...


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## LincTex

nathan said:


> Guess I better buy new Troy-Bilt while my dollars are good


The new ones are not that great. If you can find a 70's model Horse with a K-series Kohler on it, that would be THE one to buy.



invision said:


> What shocked me this AM was the fall in silver... Damn below 20!!! All markets are down and PMs fell sharply too...


That is interesting....


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## phxrising

The QE the US has been doing for the past several years has falsely propped up the stock market. As everyone here knows (preaching to the choir) this cannot continue. Bernanke is blowing air into a virtual bubble that will not only collapse, it will explode in the next few years. We are so falsely propped up. It cannot continue for obvious reasons, and his even hinting at scaling back is causing the volatility you see now. Just imagine what it will be when he DOES scale back.

Some companies have earnings but very few; many are sitting on hoards of cash. Unemployment has not improved much, China is false, they own half the US, interest rates will rise and then watch that deficit skyrocket. We have several serious problems going on here folks. I would make sure your assets are in your homes, equipment, food, ammo and property as much as possible. Pay down debt, because when interest rates go up, so will your debt. Hold your breath because it is about to get wild. I do work in finance for a living. This is my interpretation of the current situation.


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## Tweto

The Chinese government just announced that their banks are in very good shape.:eyebulge:

This could be it. Stick your head between your knees and kiss your butt good bye.


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## phxrising

The Chinese government are little more than a mafia


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## LincTex

phxrising said:


> I would make sure your assets are in your homes, equipment, food, ammo and property as much as possible.


Good advice. Check!



phxrising said:


> Pay down debt, because when interest rates go up, so will your debt. Hold your breath because it is about to get wild. I do work in finance for a living.


OK, probably what everyone that has a home mortgage (most people) want to know is this: I have a $120K house, I put 10K down when I bought it and financed $110K. I now owe $80K, 5.25% fixed. Is my future bleak?

My BO location is primitive, but paid for 100%. Land taxes are about $400 every year.


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## phxrising

If your interest rate is fixed, you're fine. Its the ones who aren't fixed (like credit cards) that its a problem. Great job on a BOL! I wish I had one.

It's likely, IMHO, in 2014-15 zero balance transfer rates will be over on credit cards.


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## invision

LincTex said:


> Good advice. Check!
> 
> OK, probably what everyone that has a home mortgage (most people) want to know is this: I have a $120K house, I put 10K down when I bought it and financed $110K. I now owe $80K, 5.25% fixed. Is my future bleak?
> 
> My BO location is primitive, but paid for 100%. Land taxes are about $400 every year.


Your safe with the fixed... One and only suggestion, refi take advantage of the 3.95% rates... You may not think that it is much in savings, but you are already used to paying $607.83 per month, by refi'ing with a new interest rate of 1.35% or more lower, then your new payments will be $379.54 ...splitting into a bi-weekly payment structure and still paying the original $607.83 would cut your payment time down BIG TIME... In turn saving you a ton in interest too... Think about each month using bi-weekly is like making a full extra payment per year towards principle, and each month your also making almost a full extra payment with the new rate, but it is towards the principle too... In 2 years you will have paid down you principle by at least $6,238.04 (if my math is right, which I "think" I am)... I am not doing the rest of the math, but I "think" you would have it completely paid off in under 12 years...


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## Marcus

invision said:


> What shocked me this AM was the fall in silver... Damn below 20!!! All markets are down and PMs fell sharply too...


Remember it was just the paper PMs. One guy I follow, Avi Gilburt, uses Elliott Wave Theory and predicted a fall down to the $18-19 range. He seems to think we're looking at a big parabolic rise up to $80. His articles can be found on Seeking Alpha.


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## Dakine

from about .65 fv a little over a year ago to $60+ fv today, and with bars and rounds too. 

It's been awhile, and tomorrow is payday... I have jars... seems like tomorrow will be a great day to buy more junk coins and put up another 40 lbs of chicken. 

Eating is *NOT* over-rated. Speaking of which, tomorrow is doggy preps day too. I'm going to go collect 2 bags of her kibble.


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## LincTex

invision said:


> Your safe with the fixed... One and only suggestion, refi take advantage of the 3.95% rates... You may not think that it is much in savings,


I looked into it. 
The insane (and completely unjustified) origination fees, closing fees, etc. added in would have actually made my payment higher by a couple bucks. I told the guy on the phone if I had the almost $7000 out of pocket to pay all those ridiculous fees, I should just pay down $7000 worth of principle. He said I was right. Because of my wife's poor credit we have a Fannie Mae loan.


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## LincTex

invision said:


> Think about each month using bi-weekly is like making a full extra payment per year towards principle, and each month your also making almost a full extra payment with the new rate,


I always pay several hundred extra towards the principle every month.


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## Immolatus

Anyone have a Discover card that gives 5% cash back and a mortgage company that accepts the payment on said card? Instant 5%.
My girl refuses to do it, she somehow thinks its cheating.


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## Tweto

LincTex said:


> I looked into it.
> The insane (and completely unjustified) origination fees, closing fees, etc. added in would have actually made my payment higher by a couple bucks. I told the guy on the phone if I had the almost $7000 out of pocket to pay all those ridiculous fees, I should just pay down $7000 worth of principle. He said I was right. Because of my wife's poor credit we have a Fannie Mae loan.


Just last month I refinanced our house. Went from 6% to 3.5%, this will save us $6000/year in real money. The origination (points) did not cost me anything, they just rolled the $3500 dollars into the new mortgage. So the whole out of pocket to me was nothing except for the gas to drive to the bank to sign the papers.

BTW anyone thinking about doing a refi had better do it now. I don't think that these rates will ever be seen again.


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## BlueShoe

From six down to 3.5% is a goodly amount to make the change. Linctex has an excellent approach that saves the mandatory refinance charges legislated in now. Prior to the crash, you could redo it without all the fees with some lenders and it was "the biggest no-brainer in the history of Earth". 

But all you have to do is be committed to throwing enough extra money at the mortgage each month and you're doing the same as paying a lower rate.


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## Tweto

tenOC said:


> From six down to 3.5% is a goodly amount to make the change. Linctex has an excellent approach that saves the mandatory refinance charges legislated in now. Prior to the crash, you could redo it without all the fees with some lenders and it was "the biggest no-brainer in the history of Earth".
> 
> But all you have to do is be committed to throwing enough extra money at the mortgage each month and you're doing the same as paying a lower rate.


My situation is a little different. I have money to pay the mortgage off, but I would rather have a 3.5% mortgage and then invest the money in a secure financial instrument. Ya, I know there aren't any of them around right now, but I do expect that there will be in the next few years.

As far as putting extra money towards the mortgage, this won't happen. I don't gain anything from doing that. At my age if I can pay it off 10 years sooner that means that I will be 80. Sorry, no male in my family as lived that long. So whats the point! If I was 30, I would pay extra, that would make sense.


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## BlueShoe

Yeah, your move made more sense to me. Some say a percentage, or one and a half is the break for making it worth while. For the 3.95% someone else mentioned from 5.25%, I don't think anyone locally is offering that where I'm at. I think they're over 4 now on a 30 yr. I'm at 4.4 after escrow of taxes, which raises your rate a little. Just pay a little extra if you want the same result.

I recommend a person buy and sell some collectibles to make extra money to throw at a mortgage or debt. It's like a second job and you get the pride of having owned some things you can't really afford to collect without punching a time clock for someone else. I bought a rusty old Oldsmobile intake once with some carbs and odd parts on it. Some junkyard owner dragged it out of a rusty trunk of a car he bought decades ago. His price to me? $1000. Yeah, a thousand. He made a lot. I did some research and paid him his price. I kept the carbs and sold the intake and small parts for $950. The carbs are worth a few hundred alone. It was a 1 yr only 442 tripower intake (1965 model I think, with only 1500 cars made with tripower). The potential is there for me to make a couple hundred off the carbs, but I just kept them for value sake. Someone else will look at my carbs and wonder why I haven't sold them for scrap metal. It turns out the carbs are the same for Pontiac in 1964 through 1966. So that's another market for them and they made more Pontiac tripowers.


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## invision

tenOC said:


> From six down to 3.5% is a goodly amount to make the change. Linctex has an excellent approach that saves the mandatory refinance charges legislated in now. Prior to the crash, you could redo it without all the fees with some lenders and it was "the biggest no-brainer in the history of Earth".
> 
> But all you have to do is be committed to throwing enough extra money at the mortgage each month and you're doing the same as paying a lower rate.


Not if you able to get a lower rate and throw that extra money you are mentioning at it as well... Understand Linctex situation though...


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## BlueShoe

I refied a few yrs back from a little over 6 to 4.34% (before escrow), but it cost about 3K rolled into the loan. I chose your approach for the comfort of the lower payment that I could add more funds to for an even quicker pay off. 
I like Dave Ramsey's recommendation to go to a 15 from a 30 in most cases, but it can also be done without a refi and get almost the same result with discipline. If your relationship is unstable I would recommend otherwise.
If you are without an heir, heck, screw it. Spend, spend, spend. Your estate has to settle your debts and you can't take it with you. Nobody else has to pay for your debts at death if they aren't on your assets and debts. Why should you have to lose all the value of your house just because you died? Get it now. 

I remember rates being about 6% and Dave R was saying (1) "Rates are nearly at an historic lows. Where do you think they're going? UP!!!", and (2) there aren't enough high risk mortgages to cause a failure in the economy, (3) Robert Kyiosaki was a "loony" for saying the economy and stock market would crash and (4) gold investing is terrible. Well it's a place to park money for some. I don't own any, but Dave isn't what he wishes he is.


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## LincTex

Back in the early 90's I read: "The Coming Economic Earthquake" by Larry Burkett. That was a huge eye opener for me, and made a big impact on me to get my financial priorities straight in life.

I also have the book: "The Coming Economic Armageddon" by Dr. David Jeremiah, but I haven't had the time to read it yet.


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## Tweto

LincTex said:


> Back in the early 90's I read: "The Coming Economic Earthquake" by Larry Burkett. That was a huge eye opener for me, and made a big impact on me to get my financial priorities straight in life.
> 
> I also have the book: "The Coming Economic Armageddon" by Dr. David Jeremiah, but I haven't had the time to read it yet.


You might want to read "The Great Crash Ahead" by Harry S Dent, published 2011. Larry Burkett's "The Coming Economic Earthquake" was very good.

I think Harry Dent has is fingers on something (Demographics). His book (from 2011) has spelled out what is happening now. A few months ago he (on you tube) said that Gold was going to drop and at the same time he said that the markets would fallow. He said to be completely out of the markets this summer, it looks like so far he's right.


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## invision

Tweto said:


> You might want to read "The Great Crash Ahead" by Harry S Dent, published 2011. Larry Burkett's "The Coming Economic Earthquake" was very good.
> 
> I think Harry Dent has is fingers on something (Demographics). His book (from 2011) has spelled out what is happening now. A few months ago he (on you tube) said that Gold was going to drop and at the same time he said that the markets would fallow. He said to be completely out of the markets this summer, it looks like so far he's right.


All three of those books are excellent IMO... A couple others are AfterShock and Peter Shiff's books as well...


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## BlueShoe

Aftershock, I'd trust that one. I don't think I'd trust anything written by David Jeremiah.


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## PipLogan

tenOC said:


> Aftershock, I'd trust that one. I don't think I'd trust anything written by David Jeremiah.


I ran his security for 8 years before we got the heck out of California a years ago.


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## LincTex

tenOC said:


> I don't think I'd trust anything written by David Jeremiah.


His messages are based straight from the Word... I haven't found any conflicting info. He doesn't "bend stuff around to fit"; I like that he is straight-shooter.



PipLogan said:


> I ran his security for 8 years before we got the heck out of California a years ago.


What did you think of him? Of his ministry? (personal faith decisions aside, BTW)


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## PipLogan

LincTex said:


> His messages are based straight from the Word... I haven't found any conflicting info. He doesn't "bend stuff around to fit"; I like that he is straight-shooter.
> 
> What did you think of him? Of his ministry? (personal faith decisions aside, BTW)


He is a quiet guy. He always took my advice on safety and was a fair man to work for. Turning point is a huge radio ministry that reaches a lot of people and the main campus located in El Cajon sees big numbers as well. It was one of the more fulfilling jobs I've had


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