Well, What happened to all the GOLD HOARDERS ?

[Grumpy Old Man]

Pardon my french, but 10 grand in a shoebox in a truck is just plain stupid. Not just stupid, but stupid stupid. And even stupidder(pardon my stupid spelling) is telling people on an internet forum that you carry 10 grand in a shoebox in your truck. Its even more stupid than putting it under your mattress, in your freezer, or in mason jars in your back yard. Good grief.

Cash money in your hand is not working for you. You have to have the intelligence to make deals to increase its value. A lot of people do not have that intelligence and shouldn't be made fun of. In your hand, cash is actually losing value on a daily basis due to inflation. Yes, you should have access to enough cash to to get you by for 6 months of expenses (a year is better). Yes, you can go to the bank and get access to your cash to cover your "normal" expenses on a daily basis. No, you shouldn't expect to be able to go to a bank and make a run on it the day of a national tragedy as you did the day of 911. Everyone knows that a bank does not keep enough physical cash on hand to cover the amounts of all of their customers account ballances. That would be a poor idea. I cannot fathom any circumstance where someone would need 50,000 in cash for anything where a cashier's check would not suffice, unless it was of dubious nature that requires the concealment of a paper trail.

Good grief.

The thought of letting some bank control "MY" money is stupid and anyone who does is just another sheep in the flock ! I have no reason to worry about carrying cash in my pocket and the leverage cash brings to the table in any deal outweighs my need to "live scared " that someone would take it from me and if they would like to try they better say goodbye to their family before they leave their house ! Tn is an open carry state . There is not one investment plan that can produce the returns of buying and selling and many a deal is made purely due to the fact of having cash in hand . Like I've said before no one needs a $500,000.00 house or $50,000.00 truck you may WANT one but you don't NEED one , learn to live within your means if you can't afford it you don't buy it .How many tractors do you see for sale within a year of purchase because the buyer jumped in at 0 down and then found out it's to small or they only used it for 30 hours and could have rented one for that amount of time ? Calling me stupid because I don't see any reason to use a bank to manage my money for me is just rude ! And to infer that anyone who uses cash instead of a cashiers check is dubious or trying conceal a paper trail ! The last time I checked it was still legal tender for all business public and private !

 

[jmc]

There's a quip among Wall Street predicters, something like "Never wrong, sometimes early."

 

[CalG]

At .05% and less for a "typical" bank deposit account, that money is not working very hard.

Combined with restricted access in cases of emergency, that's double strike. And for folks like me who hate dealing with "money". ( Usery of one form or another just pisses me off)
Coming up to speed on how to have my money work harder is just not enjoyable. I don't want to be owned by my money.

Plus, all those big bills just feel good in the hand. I'm in with GOM!

"The only pleasure iun money is the use of it," Like water, keep it flowing and it stays clean.

Different views for different folks.

Chears

 

[newbury]

It was in the now defunct "Front Porch" forum... he also added it as his signature for a time.

If you could click on the link after:
Originally Posted by Grumpy Old Man

In the second and third quotes you'd see the quotes came from the Front Porch forum, originally in February. I was unaware of his signature because that changes.

I'm not trying to say he didn't predict a drop, just the accuracy of him having posted a PREDICTION of "$600 in 6 months".

I can predict interest rates will rise, but hard facts like "to 5.5% in a year" would be hard numbers.

 

[Grumpy Old Man]

If you could click on the link after:
Originally Posted by Grumpy Old Man

In the second and third quotes you'd see the quotes came from the Front Porch forum, originally in February. I was unaware of his signature because that changes.

I'm not trying to say he didn't predict a drop, just the accuracy of him having posted a PREDICTION of "$600 in 6 months".

I can predict interest rates will rise, but hard facts like "to 5.5% in a year" would be hard numbers.

I'll give you another Grumpy prediction of things to come . Building materials like ,Stone ,Lumber , Just about anything that requires hard labor to "harvest" will start to raise in value and it is going to raise fast almost to the point of doubling in cost over the next 18-24 months , the emerging work force is weak at best and would rather type away in an air conditioned cubicle rather than work a trade with their hands ! it would be kind of hard to check your facebook account while running a chainsaw or tweet to their friends while running a loader . All consumers No producers !

 

[daveshoot]

I think we just "imported" 11 million hard laborers of whom many would be delighted to run a chain saw.

Anyway, stone and lumber are going to double in 18-24 months; those are hard numbers and should be easy to track. Is this whole weak emerging work force showing up for work tomorrow? Does this mean they can't cut as much lumber, or that no one will opt to cut lumber at all? I think demand has at least as much to do with the price as the cost of production.

What I don't like about gold is that it has little intrinsic value, unless the other guy thinks it does. Still, as with any commodity, "buy the dip" is always tempting and having a little might be fun. It is more like gambling than investing but who doesn't pull a handle now and then?

[I know no one actually pulls handles on slot machines anymore.]

 

[newbury]

I'll give you another Grumpy prediction of things to come . Building materials like ,Stone ,Lumber , Just about anything that requires hard labor to "harvest" will start to raise in value and it is going to raise fast almost to the point of doubling in cost over the next 18-24 months ,<snip>

Finally, that means pine sawtimber prices should get back to 2005 levels ($48/ton in 2005, $25/ton last Feb). And I've up to 100 acres to be harvested.

 

[Larry Caldwell]

Finally, that means pine sawtimber prices should get back to 2005 levels ($48/ton in 2005, $25/ton last Feb). And I've up to 100 acres to be harvested.

I just logged 20 acres of Douglas Fir and got a contract price of $725/Mbf. We haven't seen prices like that since 2001. We hauled out a couple loads of stuff too small or crooked to mill (chippers) and got $25/ton on the spot market. Prices have dropped off some with the summer busy season, but only about $60/Mbf.

As for labor, there is no longer much labor in logging. Two guys did all the work in about 3 weeks. They had a faller in for about 4 or 5 days, and the rest of the time they sat on machines and twiddled joysticks. The wood processor would pick up a log, limb it, buck it and stack it. Then they grabbed the logs with a loader and put them on the truck.

 

[Larry Caldwell]

Finally, that means pine sawtimber prices should get back to 2005 levels ($48/ton in 2005, $25/ton last Feb). And I've up to 100 acres to be harvested.

Better investment than gold, wasn't it? :laughing:

 

[EE_Bota]

A few months ago I posted how gold was going to drop in price by $600.00 in 6 months , Looks like I may be right about that one !:laughing:

No, you were wrong. I removed my signature comments about it at the six month mark. I started a thread about it on that day, and a copy of my signature containing your comment exists in the Friendly Politics forum.

I went to Friendly Politics to copy out my signature:

For posterity so the thread will make sense later, it was this:
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What's today's date?

"write these words down GOLD WILL TAKE A $600.00 DECLINE IN THE NEXT 6 MONTHS" Grumpy Old Man 12/6/12 NY Spot price bid last via Kitco 1701.80

Which is bigger?: a) $100 per month since the Big Bang or b) the US National Debt.