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Buying metals with home equity loan...??
topstuf
Posts: 14,803 ✭✭✭✭✭
Maybe even a reverse mortgage that doesn't even need repaying (if you qualify by age)
I thunk up this scheme in the early 2000s.
Bank of England had just displayed their incredible stupidity in selling all their gold. Drove price to $252.
In the shop, I went crazy buying. Did not sell. Traded, sure, but overall kept adding position.
Anyhow....had I done it, it would have been so smart.
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if a frog had wings. . .
Give Me Liberty or Give Me Debt
They would be passing along a VIRUS!
Well... gold is on the rise....and those of us who were stacking back in the mid nineties are smiling....Cheers, RickO
I'm guessing anything you borrow now will be payed back with cheap money so it just depends on the rate.
My Saint Set
Didnt Deadhorse do that years ago? Is he still around?
Knowledge is the enemy of fear
I would never pay interest on my metals. No loans and no credit cards unless I pay it in full and get cash back rewards.
MY GOLD TYPE SET https://pcgs.com/setregistry/type-sets/complete-type-sets/gold-type-set-12-piece-circulation-strikes-1839-1933/publishedset/321940
Do it, if the trade doesn't go right just file bankruptcy. Then you can run the show. lol
The whole worlds off its rocker, buy Gold™.
Don't do it, JMHO !!!
The thing about a reverse mortgage is that you are handing ownership over for cash flow. I suppose that it does depend on the circumstances, i.e. you never plan to live anywhere else.
I knew it would happen.
Take out a reverse mortgage and use the money to buy metals while renting the house out to illegal aliens on the down low. Buy the metal with cash obviously , you are going to need a boat and a passport obviously at the end