so anyone here still buying silver at 17+ an oz or even in the 20s if

coinsscollect

it goes that high soon

mkman123

why not? As some have said already, they will continue to spend the same amount of $$ but will be able to get a bit less in terms of Oz than before. What if it goes up and doesn't come down anymore? When silver was at 13-14 some held off thinking it will drop down to 9, well that didn't happen, instead it went up to 17 now.

If it drops down, then most of us will be happy and try to stock up more but if it doesn't you will have to get used to paying the current prices.

cone10

I'm still buying just picked up a roll of 1987 ASE on BST. I like silver at these levels I think its still a bargain but I might sell some when it hits 50.00.

ksammut

<< <i>why not? As some have said already, they will continue to spend the same amount of $$ but will be able to get a bit less in terms of Oz than before. What if it goes up and doesn't come down anymore? When silver was at 13-14 some held off thinking it will drop down to 9, well that didn't happen, instead it went up to 17 now.

If it drops down, then most of us will be happy and try to stock up more but if it doesn't you will have to get used to paying the current prices. >>



I agree with you. I may actually increase my weekly $ spend budget.

gsa1fan

I think it's more about retaining wealth than prices.

If it goes up or down you still have your asset in your hand.

That's the way I/J6P look at it. I've LOST over half of my 401K twice now.

I don't trust paper promises any more. Gold, Silver, & Lead is my current 401K.

mhammerman

Well, right now you will pay more than $20 for a Gainsville coins ASE raw and the same coin at apmex will cost you $21 and change and that's before shipping.

1jester

Mkman is right, there have been numerous threads on this topic lately.

Here's one from this week.

Here's your own thread with a very similar topic.

If you read other threads, you will often find people discussing this theme.

By the way, may I ask where you are from? It's always interesting to hear opinions from around the globe, and we have plenty of international members.

gsa1fan

I'm betting he has money to invest but it's scared money. Pull the TRIGGER! JMO

mkman123

if your sitting on a pile of money and worried about buying silver at 17+, why not buy a few oz here and there and wait until it drops if it even does. That way if it does drop you didn't spend all your money at this level and if it doesn't drop you were able to get some while it was still cheap. Look at it like that.

FistFullOfDollars

I continue to stack with every paycheck...

cohodk

<< <i>I think it's more about retaining wealth than prices.

If it goes up or down you still have your asset in your hand.

That's the way I/J6P look at it. I've LOST over half of my 401K twice now.

I don't trust paper promises any more. Gold, Silver, & Lead is my current 401K. >>



If silver goes down you will not have retained any wealth. I guess thats like saying it is only a "paper" loss.


When the world economy came to a complete stop last fall, the best asset one could have held was the poor 'ole greenback. How ironic.

renman95

I bought a roll of Walkers yesterday.

roadrunner

When the world economy came to a complete stop last fall, the best asset one could have held was the poor 'ole greenback. How ironic

Yup, and when the smoke cleared it's been one of the worst assets to hold ever since. It's all about timing. But it was indeed ironic considering many of the toxic bets made in derivatives and other phony assets were denominated in dollars (ie sold via US banks and brokerages). If not for that irony, the "strength" in the greenback would never have occured to that extent. It's like being addicted to a drug and finding out that the only available "prescribed" treatment is an even higher dose of what you were already taking.

I wouldn't look for a repeat dollar performance of that magnitude when the next financial quake hits. It's not as likely that precious metals (ie a natural treatment) will be tossed out in such a hurry as they were in the summer-fall of 2008. Until the dollar and PM trends are irrevocably broken from the past 8 years, I'll stick with the trend.

roadrunner

jmski52

If silver goes down you will not have retained any wealth. I guess thats like saying it is only a "paper" loss.


When the world economy came to a complete stop last fall, the best asset one could have held was the poor 'ole greenback. How ironic.

Everyone admits that the value of the dollar is dependant upon public confidence - confidence in the USA, confidence in the financial system, confidence in the economy, confidence in upper management,confidence in domestic security, confidence in national security - all of these things.

On a relative basis, we still have a big advantage over most every country in the world, that is still true - and that is why the greenback still functioned as a safe haven last fall. That, and the simple fact that there are so many of them floating around in the world, which made it easier to trade local currencies for the dollar.

Now, let's talk about reality. Nah, you know the situation. Most people just don't want to consider what could possibly go wrong, and there are as many ways to rationalize that things will turn out alright as there are ways to rationalize that things won't turn out so good.

Know what's smoke, and know what's not. That's a good starting point. My thought for the day is, when libor went to +4%, it wasn't hurting me, but it sure was hurting Goldman Sachs, and that's why Paulson lied his head off to Congress about the gravity of the situation. He ought to be prosecuted for public malfeasance, if anyone should.

cohodk

Paulson lied his head off to Congress about the gravity of the situation

So you think the banks were ok, not insolvent, business as usual? Sometimes I wish we never intervened with natural selection. I would have loved to pick up the pieces.

Roadrunner, you know my point. Everyone preaches that gold will save you. In reality, the only thing that did was holding the dollar. Those are the facts. And when the smoke cleared, gold was one of the worst performing assets. Equities have dramatically outperformed. Heck, even Russia tripled. In severe crises, the dollar is king. And that will be the case long after we are dead. That doesnt mean gold wont go higher, everyone should have some sort of insurance policy, I own some. But to avoid opportunity due to fear is self defeating. And I think the events of the last year have proved that.

Why everyone bashes the dollar and not the YEN or Euro, or Swiss franc, or even the YUAN, is beyond me. Each of the backing countries(regions) has potentially much more disaster in their future than the USA. Maybe its just the "in" thing to do. Glenn Beck does it, late night comedians do it, supermodels do it, maybe I should too? I just dont get it. Maybe I should start a newsletter and get in on the action also. Hey, its America isnt it?

renman95

cohodk
"In severe crisis, the dollar is king. And that will be the case long after we are dead."

That was true in the past but I don't see the logic going forward with the amount of debt we have now and will incur and with our recent/current leadership. Talk of another reserve currency is not even subtle or covert, it is openly discussed. Major countries are talking of decoupling from the dollar. It won't happen overnight, may take years, maybe late next year when the IMF convenes to hammer out the reserve currency pie.

In the recent G20 meeting the US was rank 38th in financial strength and 50th in currency strength and that was out of the 50 top countries.

Speaking of GB, he has a show tonight on the 1$. I'll watch with a grain of salt. I'll also bet if he is going to cry or not.

R95

gsa1fan

I live in the true blue collar world. I know there is big $$ to be made if you have big $$ to play with = I don't!

My example is from experience of my $/401K being built up cut in half.

Then when about 75-80% recovered cut in half again.

Folks like me don't have $ to loose. A lot of them have cashed out their 401K just to pay the bills.

If PM's go back to $400 gold & $4 silver. Every one should be back to work.

Then J6P won't have to worry about loosing the little $ he has because he has a job making more.

jmski52

So you think the banks were ok, not insolvent, business as usual? Sometimes I wish we never intervened with natural selection.

cohodk, I will never have the technical analysis skills that you have, and that is a sincere compliment. However, I do think that your confidence in the system is folly. No, the big banks were not ok - I never said that they were. What I'm saying is that the scabs have control of our government, our finances, and soon - if we are not very careful, it won't matter.

I don't see this as a time to assume that normalcy will return. I simply can't see it happening while we are being attacked from both ends of the political and social spectrums. Being in the middle has its own hazards from both sides.

I don't want anarchy. I want honesty and rational behavior. A fiat currency can't be managed by crooks, but that's what we've had. Your charts must be analyzed within a rational and honest framework. If those criteria are nonexistant, then your analyses had better be very subtle. I am sure that you know this.

Everything is not as it seems, but of course - that's always a tinfoil hat comment, right?

My point is - that confidence in the dollar is eroding, and not without reason. At some point, the analytics may not work like they did in a more stable environment. You might see it coming, but you are competing in a rough crowd. P.S., I don't mean to give you a hard time, but sometimes I worry about ya.

OnlyGoldIsMoney

Yes, I am adding 10 oz bars from current income as quickly as finances allow. During 2008 virtually all of our savings were in bank CDs. In 2009 the money I formerly would have used to purchase more CDs has purchased PMs - first gold and now silver. I certainly don't regret buying gold in the $900 to $950 range and I believe silver at $17+ is still a bargain.

Norseman88

<< <i>cohodk
"In severe crisis, the dollar is king. And that will be the case long after we are dead."

That was true in the past but I don't see the logic going forward with the amount of debt we have now and will incur and with our recent/current leadership. Talk of another reserve currency is not even subtle or covert, it is openly discussed. Major countries are talking of decoupling from the dollar. It won't happen overnight, may take years, maybe late next year when the IMF convenes to hammer out the reserve currency pie.

In the recent G20 meeting the US was rank 38th in financial strength and 50th in currency strength and that was out of the 50 top countries.

Speaking of GB, he has a show tonight on the 1$. I'll watch with a grain of salt. I'll also bet if he is going to cry or not.

R95 >>



While it is true that the dollar has been a refuge in the past I have some serious doubts this will be the case in the future.
The fed is debasing the value of the dollar as we speak and has been doing so for at least a year now. Realistically it is the only way to try and get out of the huge debt accumulated over the years with much of it coming in the past couple of years.
Another factor would be the rest of the world calling for a new reserve currency featuring a basket of currencies instead of the dollar, there has been some discussion of this recently as many countries do not want to price oil in dollars anymore.

Konahead

<< <i>So you think the banks were ok, not insolvent, business as usual? Sometimes I wish we never intervened with natural selection.

cohodk, I will never have the technical analysis skills that you have, and that is a sincere compliment. However, I do think that your confidence in the system is folly. No, the big banks were not ok - I never said that they were. What I'm saying is that the scabs have control of our government, our finances, and soon - if we are not very careful, it won't matter.

I don't see this as a time to assume that normalcy will return. I simply can't see it happening while we are being attacked from both ends of the political and social spectrums. Being in the middle has its own hazards from both sides.

I don't want anarchy. I want honesty and rational behavior. A fiat currency can't be managed by crooks, but that's what we've had. Your charts must be analyzed within a rational and honest framework. If those criteria are nonexistant, then your analyses had better be very subtle. I am sure that you know this.

Everything is not as it seems, but of course - that's always a tinfoil hat comment, right?

My point is - that confidence in the dollar is eroding, and not without reason. At some point, the analytics may not work like they did in a more stable environment. You might see it coming, but you are competing in a rough crowd. P.S., I don't mean to give you a hard time, but sometimes I worry about ya. >>






My Kingdom for a Crystal Ball!

OPA

<< <i>My Kingdom for a Crystal Ball! >>



I'll take some reliable "insider information" instead. BTW, you can have my cb along with a bunch of Nostradamus quatrains & a copy of the Mayan calendar....Heck, I'll even kick in a copy of the "Bible Code."

renman95

<< <i>

<< <i>cohodk
"In severe crisis, the dollar is king. And that will be the case long after we are dead."

That was true in the past but I don't see the logic going forward with the amount of debt we have now and will incur and with our recent/current leadership. Talk of another reserve currency is not even subtle or covert, it is openly discussed. Major countries are talking of decoupling from the dollar. It won't happen overnight, may take years, maybe late next year when the IMF convenes to hammer out the reserve currency pie.

In the recent G20 meeting the US was rank 38th in financial strength and 50th in currency strength and that was out of the 50 top countries.

Speaking of GB, he has a show tonight on the 1$. I'll watch with a grain of salt. I'll also bet if he is going to cry or not.

R95 >>



While it is true that the dollar has been a refuge in the past I have some serious doubts this will be the case in the future.
The fed is debasing the value of the dollar as we speak and has been doing so for at least a year now. Realistically it is the only way to try and get out of the huge debt accumulated over the years with much of it coming in the past couple of years.
Another factor would be the rest of the world calling for a new reserve currency featuring a basket of currencies instead of the dollar, there has been some discussion of this recently as many countries do not want to price oil in dollars anymore. >>



///

The negative Fed trend is much longer than a year or two as I'm sure you know. The Fed has been a major player in debasing the value of the dollar since its beginning with the help from some presidents and events. The purpose of the Fed was to smooth out the economic panics, recessions and depressions. It has done the opposite. With FDR's help in 1933 gold was "nationalized", Bretton Woods-1944, United States Notes backed by silver - poofed and replaced by FRN's after JFK assassination, 90% silver coinage ends in 1964, Bretton Woods collapse in 1971, off the gold standard - Nixon, and all the while the Fed keeps printing dollars out of thin air, Dec 2008 Bush says on CNN that "I have abandoned free-market principles to save the free-market system", monetization of debt. Just some of the highlights off the top of my head.

One solution is to get rid of the central bank, pay the piper and get back to basics. It'll be difficult but at least the rest of the world will see that we are serious in cleaning up our act and the dollar will once again be strong. If we don't appear to be cleaning house we will morph into a "banana republic."

R95

mhammerman

"One solution is to get rid of the central bank, pay the piper and get back to basics. It'll be difficult but at least the rest of the world will see that we are serious in cleaning up our act and the dollar will once again be strong. If we don't appear to be cleaning house we will morph into a "banana republic."

But, Ren...there is no need for all that pain especially when there is joy in the highest places in the US. The banks, the media, and the white house are all together for a change and there is love in the air. The white house feeds the media the stories with the right spin for public distribution so the herd stays happily grazing, the banks support the white house and visa versa and the media reports on the improving economy and progress with employment and the Nobel Peace Prize. It's all good now, relax...everything is under control or soon will be.

cohodk

Im just trying to create active debate.

If the US$ fails, then what would replace it? I think if anyone gives another fiat currency as an answer, then I believe that idea is a folly. People only look at what is happening in the USA without thought to the rest of the world. There is no other fiat currency that is superior to the dollar. In Great Britain, 2 of their 6 banks failed. In Switzerland, the 2 biggest banks each are bigger than the Swiss government. In Europe, the average bank is still leveraged at over 40x. These countries have the same debt and entitlement problems as the USA, yet they can no longer squeeze any blood from their citizens. They are taxed to the max. The USA has MANY ways to increase revenues, sure it would hurt the economy, but we have a way out. Europe does not. Further that with a population that will soon be declining in Europe and one that is still rising in the USA, menas the Euro will most likely fail before the dollar.

It will be decades before there is massive confidence in the Chinese currency. They need to build a military that rivals the USA and give their citizens freedom. That aint gonna happen soon. So what is left? Canada, Australia? Each have tiny populations and no military.

You need to have more than gold to back your currency. Lets say Canada or Australia completely back their currency with gold. Surely that would make it strong, no? But what if China invaded Australia and the USA invaded Canada, what happens to their currencies now? The USA has the ability to completely stop all international commerce. Can any other country do that? Of course this would be extreme, but it illustrates who you would want in your corner, the big bad bully --USA, or the new, untested, scrawny kid on the block. Better to keep the bully on your side, even if you dont like him.

The newletters writers NEED to bash the dollar. If other currencies weaken that means the dollar strengthens and there goes the gold trade. Who is one of Glenn Becks biggest sponsors? Goldline!!!

Instead of thinking about the problem, think of ways it could be corrected. The stock market propably would have gone to 3000 and anarchy would have been the rule for awhile if they didnt bail out the banks. But that didnt happen cuz they "fixed" the problem. Of course this opens up another problem, so think of they way it could be fixed. I think you'll find many answers. Do our leaders have the wherewithall to make it happen. Thats the question. Not whether we can fix our problems, but whether we want to.


Now im not saying we have problems and that gold wont do well. I am saying though that those who think the dollar is headed to 3rd world status or oblivion, are very likely to be dissapointed. Of course the USA needs to clean up its books or there will be serious consequences, but I believe it will as those consequences effect the entire planet, not just J6P. Europe and Canada are already feeling the impact of the weak dollar as their economies suffer. I believe I heard somewhere that crossing into Canada from the USA are at decades lows. You think Canada is happy about that?


Most of the downward spiral in the dollar is due to FED manipulation. We need to get our citizens working, so we make our currency more competitive. We need to destroy deflation so we crush the dollar. This move is all orchestrated and the maestro will someday change the song. You can count on that.


edited to add...I see that while I was writing, REN aslo wrote that there is a solution. Yes, maybe it would hurt, but it is a solution. Ask yourselves if any other currency has a solution.


Also......Keeping the dollar low promotes international investment in the USA. The Europeans can come here and buy condos in Vegas or Miami. Mercedes and Toyota can build factories in the US. Is it not a better to have them share the burden, to ease the pain?

KUCH

Yes, still buying. Purchased 10 oz. silver bar yesterday for $5 over spot.

It's a hedge against the dollar and inflation. Trying to sort through all the information on this board. Trying to simplify the facts and stick with the game plan.
1) US is in huge debt.
2) Taxes go up December 31, 2010
3) Unemployment at high levels
4) Manufacturing down
5) Wealth down
6) Financial sector, no significant improvement

Plan: Lower personal debt, keep 9 months living expenses in cash, invest 10% of income in PMs, keep bank accounts low, cash in majority of stocks on December 15th 2010,

57loaded

cohodk -

i agree with the logic you present.

an inflated/devalued dollar must be on the horizon, ....of some planet. i know you did not "dis" PM's.

Konahead

<< <i>

<< <i>My Kingdom for a Crystal Ball! >>



I'll take some reliable "insider information" instead. BTW, you can have my cb along with a bunch of Nostradamus quatrains & a copy of the Mayan calendar....Heck, I'll even kick in a copy of the "Bible Code." >>



Will they help

Wolf359

<< <i>

<< <i>

<< <i>cohodk
"In severe crisis, the dollar is king. And that will be the case long after we are dead."

That was true in the past but I don't see the logic going forward with the amount of debt we have now and will incur and with our recent/current leadership. Talk of another reserve currency is not even subtle or covert, it is openly discussed. Major countries are talking of decoupling from the dollar. It won't happen overnight, may take years, maybe late next year when the IMF convenes to hammer out the reserve currency pie.

In the recent G20 meeting the US was rank 38th in financial strength and 50th in currency strength and that was out of the 50 top countries.

Speaking of GB, he has a show tonight on the 1$. I'll watch with a grain of salt. I'll also bet if he is going to cry or not.

R95 >>



While it is true that the dollar has been a refuge in the past I have some serious doubts this will be the case in the future.
The fed is debasing the value of the dollar as we speak and has been doing so for at least a year now. Realistically it is the only way to try and get out of the huge debt accumulated over the years with much of it coming in the past couple of years.
Another factor would be the rest of the world calling for a new reserve currency featuring a basket of currencies instead of the dollar, there has been some discussion of this recently as many countries do not want to price oil in dollars anymore. >>



///

The negative Fed trend is much longer than a year or two as I'm sure you know. The Fed has been a major player in debasing the value of the dollar since its beginning with the help from some presidents and events. The purpose of the Fed was to smooth out the economic panics, recessions and depressions. It has done the opposite. With FDR's help in 1933 gold was "nationalized", Bretton Woods-1944, United States Notes backed by silver - poofed and replaced by FRN's after JFK assassination, 90% silver coinage ends in 1964, Bretton Woods collapse in 1971, off the gold standard - Nixon, and all the while the Fed keeps printing dollars out of thin air, Dec 2008 Bush says on CNN that "I have abandoned free-market principles to save the free-market system", monetization of debt. Just some of the highlights off the top of my head.

One solution is to get rid of the central bank, pay the piper and get back to basics. It'll be difficult but at least the rest of the world will see that we are serious in cleaning up our act and the dollar will once again be strong. If we don't appear to be cleaning house we will morph into a "banana republic."

R95 >>



I recall reading that the Panics of 1893 and 1907 were at least partially blamed on the idea that the US had no central bank to inject "liquidity" like the Europeans did. Still, the "Panics" were
a better outcome then the long and deep Depression we seem to be facing.

Norseman88

<< <i>

<< <i>

<< <i>cohodk
"In severe crisis, the dollar is king. And that will be the case long after we are dead."

That was true in the past but I don't see the logic going forward with the amount of debt we have now and will incur and with our recent/current leadership. Talk of another reserve currency is not even subtle or covert, it is openly discussed. Major countries are talking of decoupling from the dollar. It won't happen overnight, may take years, maybe late next year when the IMF convenes to hammer out the reserve currency pie.

In the recent G20 meeting the US was rank 38th in financial strength and 50th in currency strength and that was out of the 50 top countries.

Speaking of GB, he has a show tonight on the 1$. I'll watch with a grain of salt. I'll also bet if he is going to cry or not.

R95 >>



While it is true that the dollar has been a refuge in the past I have some serious doubts this will be the case in the future.
The fed is debasing the value of the dollar as we speak and has been doing so for at least a year now. Realistically it is the only way to try and get out of the huge debt accumulated over the years with much of it coming in the past couple of years.
Another factor would be the rest of the world calling for a new reserve currency featuring a basket of currencies instead of the dollar, there has been some discussion of this recently as many countries do not want to price oil in dollars anymore. >>



///

The negative Fed trend is much longer than a year or two as I'm sure you know. The Fed has been a major player in debasing the value of the dollar since its beginning with the help from some presidents and events. The purpose of the Fed was to smooth out the economic panics, recessions and depressions. It has done the opposite. With FDR's help in 1933 gold was "nationalized", Bretton Woods-1944, United States Notes backed by silver - poofed and replaced by FRN's after JFK assassination, 90% silver coinage ends in 1964, Bretton Woods collapse in 1971, off the gold standard - Nixon, and all the while the Fed keeps printing dollars out of thin air, Dec 2008 Bush says on CNN that "I have abandoned free-market principles to save the free-market system", monetization of debt. Just some of the highlights off the top of my head.

One solution is to get rid of the central bank, pay the piper and get back to basics. It'll be difficult but at least the rest of the world will see that we are serious in cleaning up our act and the dollar will once again be strong. If we don't appear to be cleaning house we will morph into a "banana republic."

R95 >>



Yes I know this has been going on for nearly 100 years when the Fed was established in 1913, however the debasement of the dollar has accelerated in the past two years as the printing presses have been running overtime flooding the system with fiat currency.
Another consideration is the huge amount of treasuries held by China, Japan and the Arab countries. These countries are growing impatient with our countries policy of debasing the dollar which of course is the logical thing to do when looking at the mountains of debt we find ourselves dealing with. It makes sense to make your debts cheaper through currency debasement which also helps to balance the trade deficit. Then you set the interest rates artificially low to help consumers, business and the government keep things going for as long as possible but at some point when inflation starts to roar and interest rates need to go substantially higher everything will come crashing down and all the Kings horses and all the Kings men wont be able to put Humpty Dumpty together again.

fc

no, i am not buying. other things to spend money on right now
like aggressively paying down the mortgage.

jmski52

gsa1fan

How much are these by the roll? jmski52

Cladiator

<< <i>no, i am not buying. other things to spend money on right now
like aggressively paying down the mortgage. >>

Getting ready for those inflation effected percentage rates?

jmski52

How much are these by the roll? jmski52

gsa1fan, the final mintage was 536, and when I checked Daniel Carr's website yesterday - they were no longer available or I'd have bought a few more.

There's quite a little symbolism in that piece.

fc

<< <i>

<< <i>no, i am not buying. other things to spend money on right now
like aggressively paying down the mortgage. >>

Getting ready for those inflation effected percentage rates? >>



no, i have a fixed 30 year. it just seems the right thing to do right now so
if i decide to stop next year at least more of my monthly payment will go to principal
instead of paying interest. Putting the extra money against the loan very early in
the process saves a lot of money over the years. I am sure everyone here who has had
a mortgage has done the math and see how that works out.

gsa1fan

Yes a nice coin, with a powerful message! jmski52, I'd like to hand them out every where I go if possible.

jdimmick

In theory,


If currency continues to devalue, isnt it better to owe money say on on a fixed rate mortgage than have capital lying around. As the cost in the current value of the dollar would be less to repay back after continuall devaluing. So lets say you owe 100k, so you take 100k and buy gold vs paying off the loan, then a few yrs later as the currency continues to fall, take the gold convert back to the current currency and pay off the loan that has the same $ amount left owed, but actuall less real value of the money it cost to pay it off to start with?

Am I way off or What??

cohodk

<< <i>cohodk -

i agree with the logic you present.

an inflated/devalued dollar must be on the horizon, ....of some planet. i know you did not "dis" PM's.

>>



Yes, they can and will devalue the dollar to create inflation. The magnitude and duration of that inflation is debatable.

meluaufeet

fc...

I hesitate to say this because I believe you know what you are doing... but for others sake please hear me out...

"no, i have a fixed 30 year. it just seems the right thing to do right now so
if i decide to stop next year at least more of my monthly payment will go to principal
instead of paying interest. Putting the extra money against the loan very early in
the process saves a lot of money over the years. I am sure everyone here who has had
a mortgage has done the math and see how that works out. "


Please read the NOTE to the Deed of Trust to understand the terms of your loan. If the NOTE says "Fully Amortized" the interest due on each payment is pre-calculated. Paying down principal will shorten the term, therefore total interest paid but it will not effect the amount of interest paid for each payment... it will however effect the interest due to your last payment made (as in paid in full) which will be based on a per diem basis...

If the loan is not "Fully Amortized" the NOTE will describe how each payment affects the principal applied and interest paid (P&I).

If you understand the conversations in the pm forums you will understand the terms of the NOTE. In a previous life I spent my time in mortgage service; conv, gov, and hard money. I can't tell you how many times this subject came up with customers.

CaptHenway

FWIW, I bought in a $1,000 bag of 90% halves this morning. Bob picked up the phone and called one of the people on our want list file, and sold it to him immediately.
TD

Weiss

<< <i>FWIW, I bought in a $1,000 bag of 90% halves this morning. Bob picked up the phone and called one of the people on our want list file, and sold it to him immediately.
TD >>



I just can't guess this market. I feel physically ill buying at "these prices", but I can't stop buying.

Norseman88

<< <i>

<< <i>

<< <i>no, i am not buying. other things to spend money on right now
like aggressively paying down the mortgage. >>

Getting ready for those inflation effected percentage rates? >>



no, i have a fixed 30 year. it just seems the right thing to do right now so
if i decide to stop next year at least more of my monthly payment will go to principal
instead of paying interest. Putting the extra money against the loan very early in
the process saves a lot of money over the years. I am sure everyone here who has had
a mortgage has done the math and see how that works out. >>



There is nothing wrong with paying down your mortgage, it does save a huge amount of money which will greatly enhance your cash flow later on.

fc

<< <i>fc...

I hesitate to say this because I believe you know what you are doing... but for others sake please hear me out...

"no, i have a fixed 30 year. it just seems the right thing to do right now so
if i decide to stop next year at least more of my monthly payment will go to principal
instead of paying interest. Putting the extra money against the loan very early in
the process saves a lot of money over the years. I am sure everyone here who has had
a mortgage has done the math and see how that works out. "


Please read the NOTE to the Deed of Trust to understand the terms of your loan. If the NOTE says "Fully Amortized" the interest due on each payment is pre-calculated. Paying down principal will shorten the term, therefore total interest paid but it will not effect the amount of interest paid for each payment... it will however effect the interest due to your last payment made (as in paid in full) which will be based on a per diem basis...

If the loan is not "Fully Amortized" the NOTE will describe how each payment affects the principal applied and interest paid (P&I).

If you understand the conversations in the pm forums you will understand the terms of the NOTE. In a previous life I spent my time in mortgage service; conv, gov, and hard money. I can't tell you how many times this subject came up with customers. >>



without going through all my paperwork i can tell you that the bill i
get each month shows the interest slowly going down each time i
pay extra. so based on that alone the note is "not fully amortized".

but you have made me curious enough to review everything and
see it in writing. i made sure of things like not getting hit with a penalty
if i decide to pay it all off early and things like that.

It is like you become an expert in mortgages for a few months and
then promptly forget everything you read online and learned. :-|

BigMoneyLewis

Here is how I look at it . Would I rather buy silver today at $ 17.50 , or buy two years from now at $ 35 ?
Or 3 years from now at $ 50 ? Of course it's mostly the dollar going down and not the metal going up
that creates these prices , but I would still feel better buying in today at these "low"numbers.

Lewis

JamesMurray

Yes , i buy regular and as much as i can bear to spend without looking to gold which is always calling.Recent purchases include Chinese Panda 2009 , Australian Tiger 2010 , Canada Hockey 2010 , Australian kookaburros various years and Britania 2008 , 5 ASE's all 2008.That was the last 7 days.