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What happened while I took a nap ? Gold up $18

JimTylerJimTyler Posts: 2,315 ✭✭✭✭✭
edited July 27, 2022 10:14PM in Precious Metals

Is it still 2022 or did I pull a Rip Van Winkle.

Comments

  • PerryHallPerryHall Posts: 42,871 ✭✭✭✭✭

    Please go back to sleep. :D

    Worry is the interest you pay on a debt you may not owe.

  • OPAOPA Posts: 16,871 ✭✭✭✭✭

    The Feds raised interest rates by 3/4%

    "Bongo drive 1984 Lincoln that looks like old coin dug from ground."
  • JimTylerJimTyler Posts: 2,315 ✭✭✭✭✭

    Good one Dennis 😂

  • I sold a gold bar yesterday. Gold goes up when i sell and down when I buy. You are welcome!

  • rickoricko Posts: 91,727 ✭✭✭✭✭

    Interest rate hike, panic, manipulation.... Cheers, RickO

  • FrankHFrankH Posts: 304 ✭✭✭

    @ricko said:
    Interest rate hike, panic, manipulation.... Cheers, RickO

    Oh. Situation normal then. Buy bonds. :D:D:D

  • jmski52jmski52 Posts: 21,388 ✭✭✭✭✭

    Gold up $30. Go back to your nap. We'll let you know when to wake back up.

    Q: Are You Printing Money? Bernanke: Not Literally

    I knew it would happen.
  • jmski52jmski52 Posts: 21,388 ✭✭✭✭✭

    Oh. Situation normal then. Buy bonds

    Buying bonds is the very last thing I'd be doing right now.

    Q: Are You Printing Money? Bernanke: Not Literally

    I knew it would happen.
  • cohodkcohodk Posts: 17,569 ✭✭✭✭✭

    @jmski52 said:
    Gold up $30. Go back to your nap. We'll let you know when to wake back up.

    You want him to never wake up? Lol

    Excuses are tools of the ignorant
    Knowledge is the enemy of fear
    Annointed "biggest hands"
  • cohodkcohodk Posts: 17,569 ✭✭✭✭✭

    @jmski52 said:
    Oh. Situation normal then. Buy bonds

    Buying bonds is the very last thing I'd be doing right now.

    I'm buying lots. The interest is more than covering the increased inflation expense.

    Excuses are tools of the ignorant
    Knowledge is the enemy of fear
    Annointed "biggest hands"
  • pmh1nicpmh1nic Posts: 2,804 ✭✭✭✭✭

    @FrankH said:

    @ricko said:
    Interest rate hike, panic, manipulation.... Cheers, RickO

    Oh. Situation normal then. Buy bonds. :D:D:D

    IBonds up to 7.12%

    The longer I live the more convincing proofs I see of this truth, that God governs in the affairs of men. And if a sparrow cannot fall to the ground without His notice is it possible for an empire to rise without His aid? Benjamin Franklin
  • FrankHFrankH Posts: 304 ✭✭✭

    @jmski52 said:
    Oh. Situation normal then. Buy bonds

    Buying bonds is the very last thing I'd be doing right now.

    Oh you big silly. Don't you know they are as safe as the tax revenue from this burgeoning economy? :|

  • blitzdudeblitzdude Posts: 4,323 ✭✭✭✭✭
    edited July 28, 2022 5:06PM

    Heh even gutter up big, guess they figure we will need lots of the above ground hoard for all these new solar panels. Bring it!

    The whole worlds off its rocker, buy Gold™.

  • TwoSides2aCoinTwoSides2aCoin Posts: 42,773 ✭✭✭✭✭

    The market lulled you there, and then....

  • jmski52jmski52 Posts: 21,388 ✭✭✭✭✭

    I'm buying lots. The interest is more than covering the increased inflation expense.

    I think that you should backup the semi.

    Q: Are You Printing Money? Bernanke: Not Literally

    I knew it would happen.
  • cohodkcohodk Posts: 17,569 ✭✭✭✭✭
    edited July 29, 2022 4:48AM

    @jmski52 said:
    I'm buying lots. The interest is more than covering the increased inflation expense.

    I think that you should backup the semi.

    Backed up and loaded up. Bond prices are up 4-6% (high yield is up more) since your warning a month ago.

    So a little math exercise. 3% on $250k (guaranteed and insured) for 12 months is $625/month in interest. That should cover the increased grocery bill.

    Excuses are tools of the ignorant
    Knowledge is the enemy of fear
    Annointed "biggest hands"
  • taxmadtaxmad Posts: 949 ✭✭✭✭

    @cohodk said:

    @jmski52 said:
    I'm buying lots. The interest is more than covering the increased inflation expense.

    I think that you should backup the semi.

    Backed up and loaded up. Bond prices are up 4-6% (high yield is up more) since your warning a month ago.

    So a little math exercise. 3% on $250k (guaranteed and insured) for 12 months is $625/month in interest. That should cover the increased grocery bill.

    oh good lord the economic illiteracy in this post is epic...

  • cohodkcohodk Posts: 17,569 ✭✭✭✭✭
    edited July 29, 2022 7:35AM

    @taxmad said:
    oh good lord the economic illiteracy in this post is epic...

    Indeed!!

    Yup....we all got different economics. Someone else might buy a new car or a boat with that interest. ;)

    Youre not gonna fix others' economics, so stop pretending like you care.

    Excuses are tools of the ignorant
    Knowledge is the enemy of fear
    Annointed "biggest hands"
  • jmski52jmski52 Posts: 21,388 ✭✭✭✭✭
    edited August 2, 2022 10:04AM

    Another little/ math exercise. $250,000 x .091 (inflation) = $22,750 / 12 months = $1,895/mo.

    $1,895/mo loss due to inflation - $625 bond interest = $1,270/month loss in purchasing power.

    $1,270/mo x 12 mo = $15,250 /year losses

    lol, back up another semi truck. I'm pulling for ya.

    Maybe you could find a 6% yield somewhere, then let's go with the real rate of inflation, somewhere around 16% to 18%

    Buy those bonds, just do it.

    You'd be better off in the stock market, until it crashes.

    Q: Are You Printing Money? Bernanke: Not Literally

    I knew it would happen.
  • JimTylerJimTyler Posts: 2,315 ✭✭✭✭✭

    Think I’ll take another nap.

  • cohodkcohodk Posts: 17,569 ✭✭✭✭✭

    @jmski52 said:
    Another little/ math exercise. $250,000 x .091 (inflation) = $22,750 / 12 months = $1,895/mo.

    How much is your annual spending, $75k? And if the cost of what you buy goes up by 9.1% then your annual spending goes up by $6825. That's how much it costs to maintain your lifestyle. So, $7500 in interest can offset the cost increases, and you can maintain your lifestyle. And still afford to complain. ;)

    Excuses are tools of the ignorant
    Knowledge is the enemy of fear
    Annointed "biggest hands"
  • cohodkcohodk Posts: 17,569 ✭✭✭✭✭

    @jmski52 said:
    You'd be better off in the stock market, until it crashes.

    So what happens typically happens to bond prices when the equity market "crashes"?

    Or just wait till this "crash" and triple (or more) your money over the next 10 years (or less).

    And what is your definition of "crash"?

    Excuses are tools of the ignorant
    Knowledge is the enemy of fear
    Annointed "biggest hands"
  • jmski52jmski52 Posts: 21,388 ✭✭✭✭✭

    You're deflecting from the real issue. I urge you to back up a 2nd 18-wheeler. Just do it.

    Q: Are You Printing Money? Bernanke: Not Literally

    I knew it would happen.
  • cohodkcohodk Posts: 17,569 ✭✭✭✭✭

    @jmski52 said:
    You're deflecting from the real issue. I urge you to back up a 2nd 18-wheeler. Just do it.

    Not deflecting anything. Yes the inflation rate is too high, but it will come down and in the meantime there is opportunity to get your money to work harder. You elect to ignore that opportunity, while many others embrace it. As stated above, we all have different economics. Make yours the best you can...and dont be afraid.

    Excuses are tools of the ignorant
    Knowledge is the enemy of fear
    Annointed "biggest hands"
  • taxmadtaxmad Posts: 949 ✭✭✭✭

    @jmski52 said:
    Another little/ math exercise. $250,000 x .091 (inflation) = $22,750 / 12 months = $1,895/mo.

    $1,895/mo loss due to inflation - $625 bond interest = $1,270/month loss in purchasing power.

    $1,270/mo x 12 mo = $15,250 /year losses

    Need to lop 25% off the bond interest for taxes...

  • I buy bonds

  • jmski52jmski52 Posts: 21,388 ✭✭✭✭✭

    If they ever get serious about fighting inflation, I can only guess what will happen to the principal on those bonds.

    While the Fed keeps buying bonds from the back door to support the stock market, they keep pumping out new imaginary money at a mushrooming pace.

    Massive inflation, or massive bond and then stock market crash? Something's going to break.

    Q: Are You Printing Money? Bernanke: Not Literally

    I knew it would happen.
  • cohodkcohodk Posts: 17,569 ✭✭✭✭✭

    @jmski52 said:
    If they ever get serious about fighting inflation, I can only guess what will happen to the principal on those bonds.

    You don't have to guess as almost all will mature at full par value and will continue to pay interest and provide an income stream.

    Excuses are tools of the ignorant
    Knowledge is the enemy of fear
    Annointed "biggest hands"
  • cohodkcohodk Posts: 17,569 ✭✭✭✭✭
    edited August 3, 2022 5:18AM

    @taxmad said:

    @jmski52 said:
    Another little/ math exercise. $250,000 x .091 (inflation) = $22,750 / 12 months = $1,895/mo.

    $1,895/mo loss due to inflation - $625 bond interest = $1,270/month loss in purchasing power.

    $1,270/mo x 12 mo = $15,250 /year losses

    Need to lop 25% off the bond interest for taxes...

    Some epic tax illiteracy being displayed here. 😉

    Excuses are tools of the ignorant
    Knowledge is the enemy of fear
    Annointed "biggest hands"
  • taxmadtaxmad Posts: 949 ✭✭✭✭

    @cohodk said:

    @taxmad said:

    @jmski52 said:
    Another little/ math exercise. $250,000 x .091 (inflation) = $22,750 / 12 months = $1,895/mo.

    $1,895/mo loss due to inflation - $625 bond interest = $1,270/month loss in purchasing power.

    $1,270/mo x 12 mo = $15,250 /year losses

    Need to lop 25% off the bond interest for taxes...

    Some epic tax illiteracy being displayed here. 😉

    Please expand on your post

  • JimTylerJimTyler Posts: 2,315 ✭✭✭✭✭

  • taxmadtaxmad Posts: 949 ✭✭✭✭

    @taxmad said:

    @cohodk said:

    @taxmad said:

    @jmski52 said:
    Another little/ math exercise. $250,000 x .091 (inflation) = $22,750 / 12 months = $1,895/mo.

    $1,895/mo loss due to inflation - $625 bond interest = $1,270/month loss in purchasing power.

    $1,270/mo x 12 mo = $15,250 /year losses

    Need to lop 25% off the bond interest for taxes...

    Some epic tax illiteracy being displayed here. 😉

    Please expand on your post

    Still nothing?

  • jmski52jmski52 Posts: 21,388 ✭✭✭✭✭

    Please expand on your post

    Whatever it is, I'm sure that it's epic.

    Q: Are You Printing Money? Bernanke: Not Literally

    I knew it would happen.
  • cohodkcohodk Posts: 17,569 ✭✭✭✭✭

    @taxmad said:

    @taxmad said:

    @cohodk said:

    @taxmad said:

    @jmski52 said:
    Another little/ math exercise. $250,000 x .091 (inflation) = $22,750 / 12 months = $1,895/mo.

    $1,895/mo loss due to inflation - $625 bond interest = $1,270/month loss in purchasing power.

    $1,270/mo x 12 mo = $15,250 /year losses

    Need to lop 25% off the bond interest for taxes...

    Some epic tax illiteracy being displayed here. 😉

    Please expand on your post

    Still nothing?

    Sorry. Didnt see your request. Gooses and ganders.

    Excuses are tools of the ignorant
    Knowledge is the enemy of fear
    Annointed "biggest hands"
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