After Hours

General discussion


Two Ponzi schemes

By maxwell edison ·
Tags: Off Topic**416971**04017.html

This conversation is currently closed to new comments.

Thread display: Collapse - | Expand +

All Comments

Collapse -

There's lots of things you can doBUT you have to get informed

by sleepin'dawg In reply to You can only CYA so much

Far too many are playing like ostriches and hiding their head in the sand. There are lots of things people can do and most are totally legal. The trick is to go out and get the information, real information and not the crapola that some of the news letters try to sell you. A good book to read is Benjamin Graham's book on value investing, its Warren Buffets investing bible, and you should also do some research on off-shore accounts and investing.
The information is available if you take the time and trouble to find it. It isn't rocket science but, I will readily admit, it isn't exactly exciting reading. Most people will spend more time thinking what their next meal will be than they are willing to commit to planning their financial security and future.
Don't mean to sound like a smart-*** but I've grown tired trying to help and while I'm not expecting gratitude, I don't appreciate being insulted either. If you want more specificinformation PM me.

Dawg ]:)

Collapse -

Lighten up Francis!

by road-dog In reply to There's lots of things yo ...

I'm not talking about wealth preservation, I'm talking about survival. Guys like Warren Buffet can survive this because they can liquidate and store gold if the system collapses.

I'm not trying to be insulting. I'm engaging in a different branch off the same discussion. If the system folds, I'm not worrying right away about my portfolio, I'm working on staying afloat when all of my employer's customers go away. A different circumstance where I find myself in immediately dire straits.

What then? I'm wondering if a prudent thing to do might be to liquidate some assets and perhaps begin moving toward an extremely "off the grid" existence. IE the old tried and true victory garden, as my Grandmother had.

Collapse -

I'm not talking preservation either.

by sleepin'dawg In reply to Lighten up Francis!

When the economy REALLY tanks you should have your assets in a safe easily accessable location. Even your mattress might be a good idea but in that case keep adequate protection around. A Rottweiler beats the **** out of a Chihuahua and a 12 gu.,.45, or .357, beats a 22. Depending on where you live a garden isn't a bad idea but if you live in the north, consider hydroponics. Also, in the north, have an alternate source of heating as well as cooking.
It probably won't get quite that bad, but as I said, "better to have it and not need it , than to need it and not have it."
BTW whatever else you do, paydown any credit card debt. The interest rates on those are poised to go through the roof. WF and Citi have already started in on that and they'll probably hike them again.

Dawg ]:)

Collapse -

Acceptance and understanding

by santeewelding In reply to I'm not talking preservat ...

Might help, too, since there is no "off the grid" with respect to the rest of us.

Collapse -

Well, maybe

by road-dog In reply to I'm not talking preservat ...

Credit card paydown is probably a good idea. Worst case scenario though, if the market tanks, they will be dealing with so many defaults that they will have a hard time collecting even the smallest percentage.

As I was saying, another big shock to the financial market will cripple everything, not just the DJIA. If the investment structure loses integrity, every publicly traded company will be upset. That hits everyone plus their suppliers and customers.

Being prepared these days means a portfolio consisting of cans of spam and ammo!

Collapse -

Long before the defaults, they'll come knocking on the door for............

by sleepin'dawg In reply to Well, maybe

their pound of flesh. If you can't hide your assets, disguise them or put them where they can't be reached. Make youself suit proof, ie, it'll cost more to sue you than they can possibly recover.

Collapse -

I have news for them

by road-dog In reply to Well, maybe

Beware the spam-apult! Full metal jacket pork products at 400 FPS!

Collapse -

What bothers me is there is a proposed relief for the investors

by DadsPad In reply to Two Ponzi schemes

"U.S. District Judge Louis L. Stanton ordered that clients of Madoff's private investment business seek relief under a federal statute created to rescue cheated investors."

That is the Securities Investor Protection Corporation (SIPC). While SIPC is not designed to handle this amount of money, and has limits, with congress and the administration giving billions out without restrictions, will this just be another bailout?

Collapse -

Here's the answer

by Oz_Media In reply to Two Ponzi schemes

All in fun of course:

The links you prvided don't surprise me though, we seem to see that daily from Canada's government too.

Related Discussions

Related Forums