rjboots1

Hamels, I think you're on the right track. After today's nose-dive, the charts look horrible on the metals. They could continue a short term dive, but when they do find support, and they will, I'm jumping in. Silver has always been more of a roller coaster than gold, but it could also be more profitable long term. Metals are not for those who are "risk-adverse". Scary ride, kind of like IQD! But fun too! Stansberry has a credible record. And hey, apart from a massive adjustment to currency exchange rates, AND international debt forgiveness, the world is absolutely headed for a global depression IMO. But with an enormous shot of cash, (like from an RV), and IF, AND ONLY IF, the stupid, greedy politicians in the world who are practicing Keynesian economics for purely selfish reasons, would get their heads out of their rear ends and quit spending money they don't have, and balance their budgets, there may yet be time to save the world from possibly the worst economic cycle in history. (But what are the chances of that?) HO, HO, HO, Merry Christmas and Happy RV!!!!!

Obama talks about democracy, but acts as a socialist dictator. What he's doing with these executive orders is wrong. He doesn't seem to get the fact that what he calls the "dysfunctional" Congress was ELECTED BY THE AMERICAN PEOPLE. I don't care if he thinks they are dysfunctional or not. The US electorate is transitioning from liberal back to more fiscally conservatvie. We're right in the middle of that transition. The fact that it's not allowing him to do what he wants should be his problem, not ours. So instead, he's bypassing the Constitution and the Congress, to re-cycle his failed spending policies to try and stimulate a failing economic recovery. The fundamental problem here is simple. Governments don't create jobs, BUSINESSES DO! Sure, governments can hire people, but they become part of the problem, not the solution, because they are not productive, sustainable jobs, and they become part of the spending problem and the tax burden that keeps businesses from being able to fund and create productive, sustainable jobs that ultimately grow the economy. Socialism doesn't work. It's been tried for centuries, and it ALWAYS fails. Keynesian economics doesn't work. It's been tried for a century and it ALWAYS fails. We need to shrink the government, shrink the spending budget, shrink the tax burden and regulation on businesses, and give the capitalistic system that made this nation the greatest empire in the history of the planet a chance to work again!!! And if we, as a people, are stupid enough to re-elect this man, then we deserve the economic collapse that will be forthcoming.

It's time to wake up, and understand a little more about human nature and big business. Businesses will do anything that's legal..........PERIOD. They will do anything that is legal. They have to in order to survive. That's what publicly owned corporations do, so they can compete, and employees and shareholders can prosper. You're never going to change that by protesting the corporations. They are LAUGHING right now. You can only change what they do by changing the LAWS under which they operate. It is the greed and lack of character in the politicians that we elect that allows corporations to operate the way they do. Lobbyist money, politicians that care more about the next election than they do about the country, and "leadership" that does not value the constitution of the United States, and selfish human nature, are all at work in the corruption that has brought us to this place. Unfortunately, we also have a generation of "entitled" young people that would rather protest, complain, and/or cry about the injustice to the 99% than to work their a$$es off to become part of the 1% and change the system the right way instead of being lazy-butts and try to get someone to share what they have obtained at least "legally" if not "legitimately". If this nation would return to the principles written into our constitution, (which clearly acknowledges the sovereignty of God and our accountability to the principles of His Word), limit the terms of office of ALL elected officials so that re-election is not a deterrrent to ethical behaviour and beliefs, limit the size and scope of the national government, and if our "entitled" generations would care more about a candidates qualifications and character than what that candidate may accomplish for them personally, this nation could be restored. I contend that if the White House, and the Congress were filled with men and women that were honest, Christian (in DEED, not in WORD), and loved this country more than their own paycheck, our nation would change drastically and very quickly. That's the CHANGE that I'm praying for in this next season. And as Forrest Gump would say..............That's all I have to say about that.................

The two groups who own most of the debt are: 1) Private investors, many of whom are retired on fixed-incomes, just like Americans who own T-bills and savings bonds, 2) Other banks, both private and central. This is where the crunch comes. When Greece defaults, other large European banks, who are already hanging by a thread from a capital standpoint, lose billions, and then when they default, the American banks, who are already hanging by a thread from a capital standpoint, lost billions. And at some point, there's nobody left to bail anyone out. Elderly get hosed. Banks get hosed. People and businesses can't borrow so the economy can't grow. Tax revenues go down. Governments go broke. And the whole cycle starts over again. Apart from massive currency exchange rate adjustments and international forgiveness of debt, we're all in trouble. Sorry, but let's wake up and smell the money burning................

Well, I certainly don't know about the 2 or 3 week time frame, but there's absolutely no doubt that the sovereign debt crisis in Europe as well as the US will ultimately implode the system. Greece will default. Ther'es no escape for them at this point. The rest of Europe has used up all their available chips to prop up the PIIGS nations already, and yet they're in worse shape than ever. The other mega Euro banks are going to lose billions each on the Greek default. When they do, the other banks will likely require bailouts, or crash themselves. But there's no one left to bail them out. So, either the bondholders will get tossed under the bus, or the banks themselves will crash. Unfortunately, I've read that the US megabanks own nearly a combined total of $1 Trillion in bonds of the other Euro megabanks. And our banks are not healthy by a long shot, and anyone that says they are is lying thru their teeth. Anyway, this is not a "SKY IS FALLING" story. It's very real, and very devastating. But again, the 2-3 week time frame is a little agressive IMO. The RV would obviously impact the time frame as well. But an ultimate crash will still be in the cards at some point. Sorry!

I was shocked and disappointed when I saw the interview with Morgan Freeman. I'm disappointed that Samuel Jackson cries racism to a nation that has made him a multi-million dollar celebrity. Does he think that only blacks watch his movies? Has he not looked in the mirror? I'm shocked that there is such a thing as the NAACP, when the nation would be in an uproar if there was an NAAWP. I'm shocked that there is still a celebration of "black history month", when the nation would freak if you suggested a celebration of "white history month", even though "hispanic history month" would be OK. I'm totally shocked that a big-mouth bone-head like Al Sharpton can have his own TV show, when the whole nation knows that if he was white, he wouldn't keep 10 viewers. Some of my best friends are black, and for the most part we share the same opinion about this junk. How many more generations have to pass before ALL colors can get over the sins of our forefathers? My prayer is that Herman Cain is just one of many blacks, hispanics, and asians that come to the forefront of the Tea Party movement so that even these aforementioned racists can comprehend that the Tea Party is NOT a racist movement.

Med is alright. He doesn't sell koolaid, talk about INTEL from make-believe contacts or sling RV dates around. He provides commentary on articles, kind of like Bondlady, and adds his opinions mixed with his own personality, which takes a little getting used to. Same with mailman. But he has stuff worth reading. And he actually does have one legit contact, Lanachy, that he gets a "heads up" from once in a while, about an article or meeting taking place. Overall, I'd say he's one of the good guys.

At least these particular guys are all more into research and reason instead of BSers slingin' $6 and $8 crapola around.

What's a Swiss code??? Anything like a Swift code???

Some of you people make me want to throw up even calling yourselves Americans. But, in at least a semi-free country, you have the right to be ignorant wimps if you want to. This country is the most powerful empire in the history of the world. You don't get to that place being a pansy. You don't get to that place waving a white flag and whining about the big bullies you have for neighbors. You don't get to that place without whizzin on a few wimps. Canada is our friend to the north because they're rich, and we're powerful. They're rich because or their natural resources, and they don't have to fund a military. They have us. They depend on us to secure their nation, and if it wasn't for us, they'd all be speaking Russian or Chinese instead of English and French. But collectively they have selective memory about that. We have 700 military bases all over this planet. We are the world's police department. And we give more money and do more good for people around the globe that hate us than the rest of the world put together. Are we perfect. No, we're corrupt. Put this much power in the hands of any humans and you will see corruption in all directions. But, when you deal with humans, you take the good with the bad, and hope the one outweighs the other. If you can't handle that, move to Canada, or France, or Somalia for that matter. George Bush isn't a perfect man. He's a good man. And he dealt with a lot of crap that you and I have absolutely no knowledge of. But some people still think they could do a better job as president. So RUN. Quit being a wimp. Do something, besides cry and complain, you liberal pansy. You think if we put all our guns away and start waving peace flags that China, Russia, Palestine, radical Islam, and every other wacko on the planet is going to say, Oh, good, now we can put our guns away too! Grow up. Or start studying foreign languages.

I think most of the guru's live in a parallel universe, the Whacky-Way Galaxy, and on the other "earth" Iraq has already revalued several times, and continues to revalue every weekend. They simply forget which planet they're on frequently because each time they transport through the black hole that connects the two universes it takes a while for their brain waves to catch up with their bodies. We're all just so synical. We don't even try to understand the complexities that they have to deal with. Your mind........don't leave home without it.

Warren Buffett's $5Billion is a drop in the bucket to what BOA is on the hook for in derivatives. And frankly, even the US Treasury doesn't have enough money to keep BOA afloat if the economy goes to he!! in a handbasket. And personally, though the RV will give all the national banks a big capital boost, it won't mean squat compared to their potential liabilities. This is one case where I think Warren should have had a V8! He's obviously making a small pile right now, and a much bigger one with the RV, but in the long run, I wouldn't be in this position at all. JMO. He's got a lot better record than I ever will, but.......

For the record, Beitling never said any of these things, and anyone that says he has is either a liar or not too bright!

With the last name of "Boots", this was a family favorite!

So, do they have to read this 3 times and vote on it, or just read it once and vote, or do the hokey-pokey and turn themselves around it, or what?

Ron Paul doesn't need a teleprompter becuase he's been preaching the same message his whole life. He knows what he believes, and people are finally starting to listen because they are beginning to wake up to the fact that this nation is in serious trouble. Ron is a good man. There's no dirt on him. The liberal media can criticize his message all they want to, but they won't find any crap on him personally, because he has maintained his personal integrity his whole life. Get beyond hype and personality, and look for character and substance. The scripture says two things about leaders and kings: 1) Whoever would be great among you, let him be a servant. and 2) The kings of Israel were judged by God on ONE issue only. Did they remember God, and do what was right in HIS eyes? I think you will find that Ron Paul stacks up pretty well on both criteria. Personally, I think we do need change, just not Big O's type. JMO

Both should be good investments for many years to come. Global demand is actually higher for both than what is being pulled out of the ground on an annual basis. Some considerations for each: Silver is normally more volatile, so if you buy it, don't panic every time it goes up and down. Just hang on and long term you'll be fine. Silver also has industrial demand, so it has a more consistent base of demand. China just last week made it legal for their citizens to own gold, so demand will definitely increase. Many emerging market central banks have very little gold in their reserves (as a % of their paper currency in circulation). Demand there will also increase for many years. Another issue for some to consider is that gold purchases are reported to the federal government and you are taxed on the increase in it's value each year. Silver is not reported. Also if, God forbid, the whole system crashes one day, and our paper currency becomes worthless, silver coins would be a lot easier to barter with for inexpensive items than gold, simply because of the difference in value. (Kind of like the Iraqi's and the 25,000 dinar note situation). Fun stuff to think about!!!

Good call Luigi1. Thanks for the info!!!

This ones a real joke. We've been hearing for weeks that as soon as the announcement is made the CBI will switch to thier new website, so crashing the current one wouldn't mean anything anyway. These guys are desperate to find some excuse for why their "It's done" predictions aren't going to come true, so they're gonna blame it on the investors for crashing the defunct CBI website.

fnbplanet, thank you for simplifying the Tea Party platform so people can see that it is basically a simple, conservative, logical and constitutional set of principles. Any additional extremism that you hear is probably not the party platform, but the individual speaking at the time. tyron, I don't know what you've been reading, but l think you've got it bass ackwards. There IS a depression well on it's way to this country, and it will arrive very soon, and it has nothing to do with the Tea Party or anything that they do from here on out. And there's nothing that Congress or anyone else can do to avoid it. We passed the point of no return in 2009 with our first $1Trillion+ annual budget defecit, (thank you Big O), and the Tea Party was virtually non-existent at the time. Every nation in the history of the world that intentionally began debasing the value of their own fiat currency to feed their government-spending addiction or pay their debts with cheaper money, has not only come to economic ruin, but eventually total destruction. And the Tea Party's desire for a balanced budget amendment is not exactly a new idea. Thomas Jefferson begged for the same thing over 200 years ago. In regards to the Fed, their charter is up in 2+ years. I agree they need to become extinct, and I for one would not be upset if we stiffed them for the portion of our debt that they own. But getting rid of the Fed will do nothing for our future economy if all we're going to do is let the Treasury pick up where the Fed leaves off, and spend our nation into financial oblivion. The root of the problem is not the Fed. They are a symptom, or manifestation of the problem. The problem is fiscal irresponsibility, and the sooner we get our budget under control, the less severe the depression will be, and the greater the chance of eventual survival and recovery. I personally like Warren Buffett's easy solution to fiscal irresponsibility. He declared that if our government runs an annual deficit more than 3% of our domestic GDP that none of the politicians serving in Congress or the White House should be eligible for re-election on the next cycle. Sounds like a winner!

8ball is reportedly a genius that doesn't blow any smoke. We don't hear from him often, but he is a serious researcher that keeps up with enormous detail of what's going on with the GOI. Scooter brags about him. Breitling does the same. I'd say he's for real.

People refer to the Tea Partyer's as "radicals". But if we don't get radical with our spending reductions, and balance our federal budget, there eventually won't be a country. We're headed for a brick wall and people simply don't believe it yet. But it's coming!!! And we'll hit it with or without an RV. Because anyone that thinks our Congress will do the "right thing" and pay down the national debt with the revenues generated by the RV is living in a dream world. Handing that money to Congress is like handing crack to a drug addict. They'll justify spending it faster than we can imagine, and end up in worse trouble than we are already. The only way out will be to manufacture a hyper-inflation environment where they can pay the debts off with much, much cheaper dollars. And the American people will just be victims of collateral damage who's finances get destroyed in the process. So forget politics, and forget pet projects and personalities. We need fiscal conservatives in Washington for the next 12 years, and maybe, just maybe, we can turn this ship around before we hit the iceberg. Oh, and, ........Go RRRRRRRRRRVVVVVVVVVVVVVVVV!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

Everything OKIE says is a lie, and yet his sheep continue to listen to him. His biggest lie was a month ago when he claimed he was making his last post. But, it's not like he's the only one!

I look on this sight about once a week. Invariably, there's a legitimate question from someone looking for information or confirmation, and it turns into a bashing session that has nothing to do with the initial question. It's always about someone stirring up strife and disagreement, who's the smartest, who's knows everything, blah, blah, blah. You might as well argue about who's got the biggest ****, because nobody cares about any of your idiotic crap comments to each other. Just shut up and go away so other people don't waste time reading all your BS.

Page 40 has to do with currency futures contracts. I don't think it has anything to do with a straight non-margin exchange of currency. I think Michael is probably right, but not because of this particular section of the tax code. I think section 988 is more applicable. But I am still in hopes that the IRS will make a clear and distinct ruling on this particular exchange given the number of people involved in the investment. Many people are counting on paying a 15% long-term capital gain rate on their earnings. If you do that, and you're wrong, by the time you get audited 3 years later, and they correct your return, add the taxes and penalties for paying the wrong amount, you'll actually owe more than you make on your dinar exchange. Be careful!