What to do right now

Bear

1. If one has been doing the right thing with PMs all along, then It might be a good time
to take a deep breath and do nothing for the moment. Remember Uncle Sammy can change
the rules of the game in an instant.

2. I would not have too much cash in any one bank or account. A number of the big boys are for all purposes
zombie banks and may soon limit the amount of money you can withdraw at one time.

3.We are very close to crazy time now and doing nothing dramatic, is sometimes the best form of action.

4. I have to admit, that the fuzzy little bear is now a little scared, by what I know, what I don't know as well as what
I don't know I don't know.

OPA

<< <i>1. If one has been doing the right thing with PMs all along, then It might be a good time
to take a deep breath and do nothing for the moment. Remember Uncle Sammy can change
the rules of the game in an instant.

2. I would not have too much cash in any one bank or account. A number of the big boys are for all purposes
zombie banks and may soon limit the amount of money you can withdraw at one time.

3.We are very close to crazy time now and doing nothing dramatic, is sometimes the best form of action.

4. I have to admit, that the fuzzy little bear is now a little scared, by what I know, what I don't know as well as what
I don't know I don't know. >>




1...take some profit
2... not new, most larger banks have had a maximum withdrawal policy for their internet clients for years.
3. reduce debt, if you have any, with some of your PM profit. Stop reading the doom & gloom fortune teller prophets. Go on with your normal routine in life.
4....One part of knowledge consists in being ignorant of such things as are not worthy to be known. ~Crates

Mesquite

For the moment I'm done buying and I'm not interested in selling. Over the years we have done a pretty good job of living within our means, the nest is empty, the mortgage is paid off and the property taxes are in the bank; so we're going to do our part to stimulate this global economy. The wife and I are planning a summer trip to Italy followed by 10 day cruise around Greece (paid with greenbacks of course). Who knows, we may never get to do this again and we'd like to do it before we get too old to do it well.

mhammerman

1. Agree but I'm still grabbing a few 1/10 ozers from Apmex every month. Was thinking of selling some off but you are right, now is a good time to hold what you got and be thinking about protecting wealth. But there is no reason not to let a little back into the great contiuum, especially that stuff that is selling for multiples of what you paid for it. It's like Alan Jackson sings in a song...Too much of a good thing is a good thing.

2. Yeah, that's what I'm thinking but I've been that way for about a year now. Stashing physical cash right now, staying away from the commercial banks and limiting my interaction with the financial community to a credit union and a mortgage company. Every time I go to the credit union, I grab a ben or so in 10's and 20's and quietly stash it; suprising but after a while, you can accumulate a pretty nice stack...certainly enough for a prepaid vacation anytime you want or, if necessary, grab a ride on the freedom express.

3. Crazy it will be but maybe there is room for optimism...those crazy Americans are pretty wiley and industrious, don't forget how they got started. Besides, you and likely most of the folk on this forum, have done what they can and it's late in the day to be trying to be starting to figure out a strategy...it may not be too late but it is late.

4. Don't be afraid, fuzzy little bear. Yepper, this is going to be one of those times when there are real vulnerabilities but there is little that one individual can do about it other than what we have done by stashing real assets, getting our financial house in order, preparing some fall back plans, and waiting. Most of what can be done at this moment other than be individually prepared has been done ala the elections. That's why we have staggered terms so the people don't run every damn one of them off of the mountain at one time.

Steady on, keep low.

derryb

Have a glass of fine wine.

jmski52

Bear, I agree with you 100%.

I've made it my policy to be able to say to my sweetie, "We are doing the best we can." That takes care of any nagging doubts or reservations that I might have otherwise had - because it is true. There is nothing wrong with doing your best.

This is a good place to stay tuned-in to reality. Differences of opinion to be sure, but at least a good smattering of them. Adjust your thinking according to the situation. We are doing the best we can.

RedTiger

I don't understand the part of being scared. If a person has done their thinking, their planning, and their acting, what is the fear about?

Again, the big four bogeys are:
major war
major famine
major epidemic
overthrow of the government or split of the country (revolution, often going hand in hand with martial law)

These are the kind of historic events that cause life changing, generational disruptions. As far as I know, none of these big bogeys is on the near-term horizon. What is occuring now is relatively normal price action during a market cycle. I'm not sure why people are scared of that. Yes, there is news, but as I have pointed out ad nauseum Chicken Little can always point to current events, always has for 30+ years, and the sky may shake and rattle, but it hasn't fallen yet, not in the way that one of the big four historic events will shake things up.

I'll close with this:
"Worry does not produce results."
Think about the power of that statement, instead of being afraid.