tag:blogger.com,1999:blog-4921988708619968880.post4650216253246434061..comments2024-02-28T22:03:57.237-05:00Comments on The Automatic Earth: What the FED accepts as collateral these daysIlargihttp://www.blogger.com/profile/09698428009501267664noreply@blogger.comBlogger11125tag:blogger.com,1999:blog-4921988708619968880.post-49418155712858235852008-02-07T10:49:00.000-05:002008-02-07T10:49:00.000-05:00Perry,I appreciate your point of view. I have a ye...Perry,<BR/><BR/>I appreciate your point of view. I have a year's worth of food packed in my basement, a well, a large organic garden, an irrigation system and a backup generator. <BR/><BR/>I hesitate however when it comes to storing gold, silver and cash at home. Two years ago, near here, word got around that a homeowner couple had a safe in their basement. Two local teens got it into their headsAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-4921988708619968880.post-86399824690617662782008-02-07T00:11:00.000-05:002008-02-07T00:11:00.000-05:00WOW! Some folks are not listening: "FDIC is of N...WOW! <BR/><BR/>Some folks are not listening: "FDIC is of NO protection."<BR/><BR/>Solutions:<BR/>Cash<BR/>silver<BR/>gold<BR/>food<BR/>tools<BR/>books<BR/>guns<BR/>ammo<BR/>land<BR/>water<BR/>meds<BR/>mobility<BR/>personal skills<BR/>. . . (etc.)<BR/><BR/>ALL held CLOSE, NOT lent out, or stored off-site.<BR/><BR/>(it surely is easy to tell who has never gone flat broke before - from those who perryhttps://www.blogger.com/profile/08981922001442716176noreply@blogger.comtag:blogger.com,1999:blog-4921988708619968880.post-24560194037043186562008-02-06T21:16:00.000-05:002008-02-06T21:16:00.000-05:00Anonymous: the link is fixed, and the rest of the ...Anonymous: the link is fixed, and the rest of the article is worth reading. But if you need to choose only one article today, I would go read The Menace of Mortgage Debts, and the three 80 year old pieces it is based on. Because that is really where we're going.<BR/><BR/>George, for now we will accept even US money. It hasn't yet lost all of its value up here. Stoneleigh even expects a resurgenceIlargihttps://www.blogger.com/profile/09698428009501267664noreply@blogger.comtag:blogger.com,1999:blog-4921988708619968880.post-46882531289919537312008-02-06T19:48:00.000-05:002008-02-06T19:48:00.000-05:00(ilargi : the current first link leads back to TAE...(ilargi : the current first link leads back to TAE.)<BR/><BR/>I have been the proud but reluctant guardian of $20k in cash for the last couple of weeks. When I phoned my banker and told her what I wanted, she was dumbfounded and could only suggest that I talk to their 25 year old financial planner, to talk some sense into me I suppose. Anyway, the bank either wanted to do some extra security Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-4921988708619968880.post-70717107325254439542008-02-06T18:28:00.000-05:002008-02-06T18:28:00.000-05:00WOW! Some folks are not listening: "FDIC is of N...WOW! <BR/><BR/>Some folks are not listening: "FDIC is of NO protection."<BR/><BR/>Solutions:<BR/>Cash<BR/>silver<BR/>gold<BR/>food<BR/>tools<BR/>books<BR/>guns<BR/>ammo<BR/>land<BR/>water<BR/>meds<BR/>mobility<BR/>personal skills<BR/>. . . (etc.)<BR/><BR/>ALL held CLOSE, NOT lent out, or stored off-site.<BR/><BR/>(it surely is easy to tell who has never gone flat broke before - from those who perryhttps://www.blogger.com/profile/08981922001442716176noreply@blogger.comtag:blogger.com,1999:blog-4921988708619968880.post-20863034598376149102008-02-06T17:08:00.000-05:002008-02-06T17:08:00.000-05:00a few days ago Jim Rogers had an interview on Bloo...a few days ago Jim Rogers had an interview on Bloomberg and, when asked for picking just one investment advice, his answer: RMB. dunno how safe the bank offering foreign currency account (including RMB) is. but it is FDIC insured at least.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-4921988708619968880.post-39409077850912413362008-02-06T16:01:00.000-05:002008-02-06T16:01:00.000-05:00Thanks Ilargi!(Sound of dollar bills being stuffed...Thanks Ilargi!<BR/><BR/>(Sound of dollar bills being stuffed in tip jar - sorry, American currency)Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-4921988708619968880.post-40686698300274692602008-02-06T15:26:00.000-05:002008-02-06T15:26:00.000-05:00Well, George, maybe we could at that.We'll start w...Well, George, maybe we could at that.<BR/>We'll start with some ads and a tip-jar on the site, how about that?<BR/><BR/>There are banks that are much safer than others, but then again, depending how deep and how fast the crisis hits, it's hard to tell what will be left standing. Yeah, it's not easy, I know. But as much cash in your hands as you can get looks like a good start to me.<BR/><BR/>I amIlargihttps://www.blogger.com/profile/09698428009501267664noreply@blogger.comtag:blogger.com,1999:blog-4921988708619968880.post-88382861348415807282008-02-06T14:42:00.000-05:002008-02-06T14:42:00.000-05:00PS - I know you and Stoneleigh don't provide finan...PS - I know you and Stoneleigh don't provide financial advice (although you could probably make a decent living at it on the side!), but it seems to me the sensible thing to do if one is leaving the housing market for a couple of years is to put the cash in savings accounts and CDs in a number of financial institutions, including banks and credit unions, not exceeding $100K in any one institutionAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-4921988708619968880.post-31572930788115650152008-02-06T10:06:00.000-05:002008-02-06T10:06:00.000-05:00The conumdrum: If one sells one's house in this ma...The conumdrum: If one sells one's house in this market, which we are attempting to do now, gets the equity out prior to the predicted 25% drop in housing prices, where can you put it safely? You can't bury hundreds of thousands of dollars in the backyard, and the only sensible thing to do is to put it into a money market account. But is the banking system safe?Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-4921988708619968880.post-59891918221258777722008-02-06T07:26:00.000-05:002008-02-06T07:26:00.000-05:00It's sad, but the commenter 'late-to-the-party' ha...It's sad, but the commenter 'late-to-the-party' has a very valid point. So long as everybody just looks the other way this nonsense can continue. While the ratings agencies should by all conceivable logic downgrade the monolines, the chaos that would ensue is bad enough that everyone is all too happy to turn a blind eye.<BR/><BR/>Presumably, the only thing that could break the stalemate is if theAnonymousnoreply@blogger.com