COUNTERING INFLATION - my method of making Money

[Cobwebs]

Any predictions on when that will be, Cobwebs?

General consensus is it started in 2008 but through fair means or foul the day of reckoning has been extended out till now. All the crazy gyrations of the last few years are the indicators of an attempt at a reset. It's failing hence the madness we see daily. History tells us when it sinks it sinks quickly so I was wondering if Mike has this factored into his calculations and if so would he mind passing on his thoughts.
Do you see disaster ahead or will it always maintain an upward trend ?

 

[BLUEKNIGHT911]

Were you up or down on it when you got out?

I was up..... I was " day trading " it. ... I put " low ball " bids in .... sometimes it took a week or more to buy & immed. put a sell order in for .15 over what I paid for it....again it might take a week or more, but when it hit my target price I would start all over again. I wasn't making thousands of dollars, only hundred or so. ... But those small gains add up..... I'm lucky, I don't consider this as being " my money ", I'm using my children's inheritance money :roflblack: ..... they know what I'm doing and so far are pleased with it ..... Mike :thumbup:

 

[BLUEKNIGHT911]

Mike, so far you seem to be staying in front :yes:but any insights on a plan for when inflation makes dollars worthless? Seems it's all downhill from here, a la' Weimar Republic, Zimbabwe etc. Great if you can purchase something with the cash but if you need a wheelbarrow full of the stuff whats the point?

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:agree: ... My Financial opinion is the U.S. is trying to out-do Venezuela in Stupid .... When any Government prints money like some folks print " newspaper " you get run-away inflation. Even if you invest in Gold or any hard object/item in order to use that, you have to sell it for .....DOLLARS OR SOME TYPE OF CURRENCY .... If the Gold or other object is worth more when you sell it, your still dealing with an INFLATED Currency. .... I haven't figured out a way to beat inflation. .... If you have ,please share ..... Mike :thumbup:

 

[BLUEKNIGHT911]

Any predictions on when that will be, Cobwebs?

Pete - IMHO we are getting there Every day..... Mike :thumbup:

 

[Cobwebs]

:agree: ... My Financial opinion is the U.S. is trying to out-do Venezuela in Stupid .... When any Government prints money like some folks print " newspaper " you get run-away inflation. Even if you invest in Gold or any hard object/item in order to use that, you have to sell it for .....DOLLARS OR SOME TYPE OF CURRENCY .... If the Gold or other object is worth more when you sell it, your still dealing with an INFLATED Currency. .... I haven't figured out a way to beat inflation. .... If you have ,please share ..... Mike :thumbup:

I'm just keeping the bank account to a bare minimum to pay the bills. Have all the hard assets I need.Following advice from like minded individuals like your good self and observing the panic from slave masters as their scheme crumbles to it's inevitable end.
Those left standing then have the task of the rebuild to an equitable system minus the inflation from the corruption that produced it.
Quite the privilege to witness it all really, these sorts of upheavals are millenniums in the making though many won't survive it is my feeling.

 

[BLUEKNIGHT911]

I'm just keeping the bank account to a bare minimum to pay the bills. Have all the hard assets I need.Following advice from like minded individuals like your good self and observing the panic from slave masters as their scheme crumbles to it's inevitable end.
Those left standing then have the task of the rebuild to an equitable system minus the inflation from the corruption that produced it.
Quite the privilege to witness it all really, these sorts of upheavals are millenniums in the making though many won't survive it is my feeling.

I hear you ..... good luck ( we all need some ) ....Mike :thumbup:

 

[UtahPete]

General consensus is it started in 2008 but through fair means or foul the day of reckoning has been extended out till now. All the crazy gyrations of the last few years are the indicators of an attempt at a reset. It's failing hence the madness we see daily. History tells us when it sinks it sinks quickly so I was wondering if Mike has this factored into his calculations and if so would he mind passing on his thoughts.
Do you see disaster ahead or will it always maintain an upward trend ?

Do I see disaster ahead?

Well, I think the only 'disaster' extreme enough to significantly affect the American financial markets would have to be one that crashes global civilization, such as nuclear war or global environmental catastrophe, at which point I can imagine a Mad Max scenario and the value of the dollar will be irrelevant. But, one is unpredictable and the other is a ways off. In the meantime the US financial system will go through its usual gyrations due to Wall Street greed but won't collapse entirely.

In other words, we Baby Boomers have nothing to worry about. The financial system will hold up just fine during our lifetimes and hyper-inflation of the sort you fear will be confined to small, isolated economies. For the average person, US Treasuries and its many derivations remain the safest bet for retirement funds, and provide necessary liquidity that hard assets cannot. If the dollar collapses due to hyper inflation, then what good are gold bars anyway?

That's what I think. I also think that I'm a terrible investor when it comes to individual stocks because I don't have the time, interest or resources to stay on top of the market, which successful day-trading requires. We're entirely in major mutual funds with a spread between income and value funds that reflects our risk tolerance, managed by one of the name brand investment advisors. That's been working out well for us and we don't think about it much.

 

[Peter Aawen]

Just a warning and a reminder people - as per the Forum Rules, this is the Off-Topic section so you are welcome to discuss Mike's method or any of the differing ways of making money already raised here, and any others that might come to mind; but we ARE NOT discussing the politics of the World or the how's, why's, and/or wherefore's of any/all political systems that may or may not have contributed to the current economic climate or otherwise! :lecturef_smilie:

You have been warned!

 

[UtahPete]

Just a warning and a reminder people - as per the Forum Rules, this is the Off-Topic section so you are welcome to discuss Mike's method or any of the differing ways of making money already raised here, and any others that might come to mind; but we ARE NOT discussing the politics of the World or the how's, why's, and/or wherefore's of any/all political systems that may or may not have contributed to the current economic climate or otherwise! :lecturef_smilie:

You have been warned!

I've edited my last post. Hopefully it's now more acceptable.

 

[Peter Aawen]

I've edited my last post. Hopefully it's now more acceptable.

Pete, if your post was still there and you hadn't received a slap on the wrist with a wet tram ticket from any of the mods, then it was 'acceptable' as it was, with no need to edit anything....

Hmmm, maybe I'm not so sure about it now, AFTER your edit?

But we ARE off the topic, so please, let's get back to the subject of making money, and not discussing the political (or climatic) situation that might make that pointless. :thumbup:

 

[ARtraveler]

Just a warning and a reminder people - as per the Forum Rules, this is the Off-Topic section so you are welcome to discuss Mike's method or any of the differing ways of making money already raised here, and any others that might come to mind; but we ARE NOT discussing the politics of the World or the how's, why's, and/or wherefore's of any/all political systems that may or may not have contributed to the current economic climate or otherwise! :lecturef_smilie:

You have been warned!

:agree: politics out. One deletion so far.

 

[UtahPete]

Pete, if your post was still there and you hadn't received a slap on the wrist with a wet tram ticket from any of the mods, then it was 'acceptable' as it was, with no need to edit anything....

Hmmm, maybe I'm not so sure about it now, AFTER your edit?

But we ARE off the topic, so please, let's get back to the subject of making money, and not discussing the political (or climatic) situation that might make that pointless. :thumbup:

I've further edited my post to clarify that I was responding to an earlier post which asked the question whether financial disaster is imminent.

 

[Cobwebs]

Do I see disaster ahead?

Well, I think the only 'disaster' extreme enough to significantly affect the American financial markets would have to be one that crashes global civilization, such as nuclear war or global environmental catastrophe, at which point I can imagine a Mad Max scenario and the value of the dollar will be irrelevant. But, one is unpredictable and the other is a ways off. In the meantime the US financial system will go through its usual gyrations due to Wall Street greed but won't collapse entirely.

In other words, we Baby Boomers have nothing to worry about. The financial system will hold up just fine during our lifetimes and hyper-inflation of the sort you fear will be confined to small, isolated economies. For the average person, US Treasuries and its many derivations remain the safest bet for retirement funds, and provide necessary liquidity that hard assets cannot. If the dollar collapses due to hyper inflation, then what good are gold bars anyway?

That's what I think. I also think that I'm a terrible investor when it comes to individual stocks because I don't have the time, interest or resources to stay on top of the market, which successful day-trading requires. We're entirely in major mutual funds with a spread between income and value funds that reflects our risk tolerance, managed by one of the name brand investment advisors. That's been working out well for us and we don't think about it much.

Sorry Pete don't think I can reply I have a wrist injury.