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cugir321
7th December 2008, 01:02
If these guys are fixing the silver market then lets pull our money out of their banks.

There's a story on fox about a bunch of window company employee's taking over the building because they got three days to pack up and leave. No severence or vacation pay. Bank of America put out a statement saying it's not their problem. I say you got our bailout money. You need to make it your problem. I won't support any company that uses BOA. These idiots that put out stuff like that are just plain stupid. They didn't need to rub it in. They could have just ignored it. F' 'em!

These banks are going to rape us in the end...why not rape them and leave them cold in the meantime! It's our chance to get them before they get us.

ascentient
7th December 2008, 01:14
Without knowing the details of the story, I'm happy to support your boycott. I personally closed all my accounts with JP Morgan Chase when the bailout was passed (actually the week before), and will boycott BOA and Citigroup as well. The exception is that I'm happy to use their credit cards provided the card interest is 0% (as mine are) and there are no annual fees, given that using their money with no profit to them to purchase silver (as I did with almost my entire balance) bleeds them just a bit more than closing the accounts does.

The hard part now is trying to convince my employer to move their bank accounts from JP Morgan Chase. That is something I'm still working on...

rasputin
7th December 2008, 02:40
Better yet, do what I have done...

Open up credit card accounts at JP morgan, and Morgan banks, and get cash advances, then buy gold and silver futures contracts and take delivery of them! :)

main1event
7th December 2008, 07:19
Better yet, do what I have done...

Open up credit card accounts at JP morgan, and Morgan banks, and get cash advances, then buy gold and silver futures contracts and take delivery of them! :)

Then claim bankruptcy :) If they ask why, just tell them the price of silver went down and you found out that they were shorting it.

LETMYSILVERGO
7th December 2008, 09:32
I was pretty well set with my silver holdings, then chase called me and ask if if need any money at 0 percent till 2009 nov.

this was when the news was full of working people that could not get a car loan.
So I ask how much do u want to send me? OH SAID THE DUDE ON THe PHONE, WE CAN LET U HAVE $26,000 FOR A YEAR....I SAID SEND IT...THEN i BOUGHT $26.000 WORTH OF SILVER...AT ZERO INTEREST...I GOT A YEAR FOR SILVER TO MOVE TO $20.00, I'LL MAKE A NICE PROFIT AND IT WILL BE FREE FOR ME......"That's Stickin' it to the Man!!" I hope.

jechilt
7th December 2008, 09:32
Then claim bankruptcy :) If they ask why, just tell them the price of silver went down and you found out that they were shorting it.
boycotting at the expense of bankruptcy? Is it really worth it?
The idea of maxing credit cards to buy silver is pretty nifty though...

jechilt
7th December 2008, 09:35
I was pretty well set with my silver holdings, then chase called me and ask if if need any money at 0 percent till 2009 nov.

this was when the news was full of working people that could not get a car loan.
So I ask how much do u want to send me? OH SAID THE DUDE ON THe PHONE, WE CAN LET U HAVE $26,000 FOR A YEAR....I SAID SEND IT...THEN i BOUGHT $26.000 WORTH OF SILVER...AT ZERO INTEREST...I GOT A YEAR FOR SILVER TO MOVE TO $20.00, I'LL MAKE A NICE PROFIT AND IT WILL BE FREE FOR ME......"That's Stickin' it to the Man!!" I hope.
Letmysilvergo, are you really that confident silver is going to move north in a year? I do like what you did. Worse case is you lose a little. Satisifaction would be just to break even, and best case is you win big with "other peoples money". hmmmmmm, I like it :D

Trvlr45
7th December 2008, 10:19
If these guys are fixing the silver market then lets pull our money out of their banks.

There's a story on fox about a bunch of window company employee's taking over the building because they got three days to pack up and leave. No severence or vacation pay. Bank of America put out a statement saying it's not their problem. I say you got our bailout money. You need to make it your problem. I won't support any company that uses BOA. These idiots that put out stuff like that are just plain stupid. They didn't need to rub it in. They could have just ignored it. F' 'em!

These banks are going to rape us in the end...why not rape them and leave them cold in the meantime! It's our chance to get them before they get us.

Well, when they do get back to work they can look forward to working 'til the day they die paying for the UAW employess to go fishing and collect free health care for life. Then there are the Mserati payments for the Wallstreet executives as well as their huge mansions.

cugir321
7th December 2008, 19:43
There's actually an easier more malicous way....why don't you get a gun and rob them. Do the wall street branch. Naaa...just kidding. You seem like the type that might take me up on it. ;)


boycotting at the expense of bankruptcy? Is it really worth it?
The idea of maxing credit cards to buy silver is pretty nifty though...

rasputin
7th December 2008, 20:38
Letmysilvergo, are you really that confident silver is going to move north in a year? I do like what you did. Worse case is you lose a little. Satisifaction would be just to break even, and best case is you win big with "other peoples money". hmmmmmm, I like it :D

LetMySilverGo is very smart.

I've done this many times, using my CC's to buy silver.

What you forget, is that you are buying an ASSET with the credit card debt. You get something, your not just spending the money, and not having something.

Even if silver doesn't appreciate THAT much, it will appreciate more than 0%.

It just has to appreciate more than the credit card rate. For the past few years, silver appreciates about 30%.

Worse comes to worse, you sell your silver, and pay off your debt with it.

Plus, you get to write off the interest you paid on the credit cards.

Raz

clr8ter
7th December 2008, 20:42
Huh. I don't think I have the balls to take that much of a chance with $26K. Who really knows what the price will do?

jechilt
7th December 2008, 21:39
Huh. I don't think I have the balls to take that much of a chance with $26K. Who really knows what the price will do?

There are quite a few metal experts out there and they seem to think that silver can't stay at this low level long.
I do worry about my bars dropping down to the $4 range but I am really starting to believe it will rebound and we could see $20. That is almost a risk worth taking. If we could get a percentage of what level of risk we would take if we bought 20K today over the next 12 months, I will contact chase (I have an account with them) and ask for an interest free loan for 12 months and do the same thing.
I don't know what the price will do but the experts have a better idea and I have learned that if I want to succeed, I need to be around people that succeed. I think there are a lot of successful people in the forum and I am hoping to be taught and do well. Besides, I really need to get my future established now because later will be.....too late.

research24
7th December 2008, 21:45
RAz, I hate to tell you this but credit card interest is no longer deductible.

Don't worry, JPMORGAN will finally get theirs as it is very unlikely that they will survive this. The derivatives beast is eating them alive, feet first. I can hear it chomping away even now! Warms me little heart, I tell ya.

ascentient
7th December 2008, 21:53
I've almost totally tapped my 0% credit cards to buy bullion - now to get the credit limits increased. Personally, I think this is a good strategy as the current price of gold and silver is good value (regardless of it going down further).

I would caution everyone (including myself) that the only safe way to do this is to spend money you would *otherwise* be spending on silver/gold in the future to lock in prices now. Don't over-leverage and become another person asking the government for money to help them as a result of their poor fiscal judgment. Every time someone does that, it just sanctions the government to steal more money from those of us (like most of us here) who save and invest.

Credit is good when used wisely, but terrible if used poorly. And PLEASE make sure you don't give money to JPM, BOA or Citi in the process (0% interest is good, anything else sanctions their existence). Just my 2 cents.

chux03
7th December 2008, 22:05
I paid off all my bills, cc's etc a few months ago now and have been living the "frugal" life...not because I have to but I admit to being one of those that seem to be in a waiting mode, trying to figure out what's going which way. I get many offers for free money, cc's etc and after LetMySilverGo's pursuit of profits, I'm tempted too to take em up on one of their offers. I'm setting along fine on my silver hoard but any borrowed money for PM's would go straight into my no hassle GoldMoney account and I'd simply buy as much gold as I could and then let it hang right there till the term was near up, sell for HUGE profits (I also hope) pay the bandits off ONLY if they're still in business. Hey, if they go tits up you may get a reprieve on this one and if it gets real bad, you may SKATE all the way. I'd like the pay-back in HIGHLY inflated dollars as my favorite scenario. Either way, that's a great suggestion, especially when PM's are priced so low!!

LETMYSILVERGO
7th December 2008, 22:19
The way I figure, if silver is still drifting around $11-$12.00 in a year from now,
Hell I deserve to loose a little. Who wants to wager that Silver be less in 12 months from now? and if it is, S---------t happens.

hiyosilver
7th December 2008, 22:25
any kind of debt is not the place to be in this economy...if you get caught with your pants down, they're not going to play games like you are...you'll be in prison. They get away with blatant fraud on a daily basis, but don't think they would allow you to get away with it for a minute...

research24
7th December 2008, 22:27
I have no idea what it will be in a year, nor do I care. The US gvt is going to default probably within two years, or it will devalue or both. When that happens you are instantly saved from these catastrophic events. There is no better insurance than that. Priceless in my less than humble opinion.

research24
7th December 2008, 22:28
any kind of debt is not the place to be in this economy...if you get caught with your pants down, they're not going to play games like you are...you'll be in prison.

You think they're going to resurrect debtors prisons? If so they'll have to accommodate about a third to half the nation.

fredrock
7th December 2008, 22:44
Friends, something to think about... I recently closed a Chase Bank CC account that had a $15,000.00 limit because I learned that just having an open account with them, whether you had a balance or not, allowed them through the rules of fractional reserve banking to use a persons IOU to create additional loans and collect large amounts interest. In essence, bank credit card companies do not need to make any money on you to make a large profit, what they need is for someone to borrow money into existence so they can lend 30, 50, or even 100 times that amount so that they then can enslave more people and rape them with high interest rates. THEY NEED YOU! Use that knowledge to your advantage.

You have to decide what best for you, but I just thought I would let those who were not aware of this fact in on their dirty little secret.

For full disclosure purposes so as you can see, I'm not totally against CC's. My wife and I still have two credit cards. One with a $1,000.00 limit and another of $7,000.00 @ 0% which I use from time to time to purchase PMs.

Fred

ascentient
7th December 2008, 22:51
That's interesting, Fred. I know that the money owed is an asset on their books, but I didn't think they could consider it a secured asset for the purpose of making loans on. At least not without reducing the risk on it by writing a CDO...

This is the point where I start laughing at the irony. :)

Personally, I loathe JPM, but closing my CC will hurt my credit rating and in a deflationary environment credit is almost as good as gold (especially if you use it to buy gold). I won't give them cash profits or keep my money with them, but if they want to increase their own systemic risk (and add some to the entire financial system) I'm not so concerned about that. After all, by having 90% of my net worth in PM's (and borrowing their money to buy more) I'm already short the dollar.

research24
7th December 2008, 22:55
90% huh, no real estate? I'm confident of PMs but not THAT confident! I'm only at about 20% but then I bank on the coming devaluation leverage factor figuring PMs will be worth minimum twice as much.

cugir321
7th December 2008, 22:55
I took all but about 100.00 out of my wachovia accounts. Had big direct deposit go in on friday. Withdrew all but enough to get 3 money orders. (I'm not writing a big check and have them go feet up while it's in limbo) The mothers wanted to charge me 5.00 a money order. I went ballistic. Told the regional manager, who was there, it's not my fault you don't have my money. I wish I could trust you with it. My past balance was always 10k. She was a little perturbed that I was raising my voice. I said when you get this wells fargo thing staightened out maybe I'll leave more in. This is the kicker, she said, it will be 2-3 years before the wells fargo thing is finalized! lol! I'm glad I pissed her off. Got the straight scoop. No more money in my accounts. 100.00 bucks, that's it. Direct deposit friday, withdraw friday afternoon.

fredrock
7th December 2008, 22:55
HooRay! This is my 100th post!

I just want to take a few moments to thank all my many fans across the globe. I appreciate each of you very much!:)

Furthermore, I wish to thank each of you for the engaging conversation and the furtherance of my education in all things political and precious metals especially SILVER.

Do I graduate to senior member status now that I have 100 posts?:rolleyes:

Fred

Yep! I'm a senior member now guys. That means you have to take me very seriously from now on! Thats an order!!

research24
7th December 2008, 23:02
We want you to post a video of yourself taking your bows so we can gauge whether you are being properly humble!

fredrock
7th December 2008, 23:08
My thank you video Link!
http://uk.youtube.com/watch?v=17-hu1E1bYg

Enjoy!:)

Fred

ascentient
7th December 2008, 23:25
You rock, Fred. Led Zeppelin is the greatest band of all time (even if they were making their best work before I was born).

:)

skijake
7th December 2008, 23:43
I took all but about 100.00 out of my wachovia accounts. Had big direct deposit go in on friday. Withdrew all but enough to get 3 money orders. (I'm not writing a big check and have them go feet up while it's in limbo) The mothers wanted to charge me 5.00 a money order. I went ballistic. Told the regional manager, who was there, it's not my fault you don't have my money. I wish I could trust you with it. My past balance was always 10k. She was a little perturbed that I was raising my voice. I said when you get this wells fargo thing staightened out maybe I'll leave more in. This is the kicker, she said, it will be 2-3 years before the wells fargo thing is finalized! lol! I'm glad I pissed her off. Got the straight scoop. No more money in my accounts. 100.00 bucks, that's it. Direct deposit friday, withdraw friday afternoon.

I gotta say , I love to see these guys/gals sweat when you rip them a new one. PC my ass, that's why we are in this mess. No one wants to call a spade a spade. Well done!:cool:

skijake
7th December 2008, 23:52
HooRay! This is my 100th post!

I just want to take a few moments to thank all my many fans across the globe. I appreciate each of you very much!:)

Furthermore, I wish to thank each of you for the engaging conversation and the furtherance of my education in all things political and precious metals especially SILVER.

Do I graduate to senior member status now that I have 100 posts?:rolleyes:

Fred

Yep! I'm a senior member now guys. That means you have to take me very seriously from now on! Thats an order!!

Congrats on the 100th! However they keep on moving the Taken Serious Meter up. Now they tell me its over 500 posts. Always about a hundred shy.:rolleyes:I think it helps if you mention the word SILVER in every post!

LETMYSILVERGO
8th December 2008, 00:02
ooooooooh senior member......What are your orders? you shall be like a beacon unto others, having them gather their own shinny stuff.....I'm nuts

fredrock
8th December 2008, 00:09
What are your orders?

You are to do the following immediately! Go to your secret hiding place and fill a large black bag with all of your silver bullion... quickly! Do not delay! When you have finished that task, you are to go directly to the nearest UPS and then call 614-555-5555 to receive further instructions on where to ship the bag and its contents. Hurry!

I'll be waiting:)

Fred

jechilt
8th December 2008, 00:26
The way I figure, if silver is still drifting around $11-$12.00 in a year from now,
Hell I deserve to loose a little. Who wants to wager that Silver be less in 12 months from now? and if it is, S---------t happens.

I would be interested in knowing your thoughts concerning silver. I am happy to PM if you like...
me, I am still too green behind the ears to know my head from a hole in the wall when it comes to silver

LETMYSILVERGO
8th December 2008, 09:43
I DON'T KNOW CRAP. BUT I HAVE SEEN IT MOVE FROM $5.00 TO $20.00, THEN BACK TO WHERE IT IS......,BUT I, NOBODY, HAS SEEN WHAT IS GOING ON NOW......I MEAN IF THIS SHAKE UP, SHAKE DOWN, DOES NOT MOVE SILVER UP, THEN IT SHALL NEVER HAPPEN.

THE CURRENCY STABILTY IS REALLY SHAKEY----SO MY THOUGHTS ARE SIMPLE....DO YOU WANT PLASTIC OR PAPER. ( i MEAN SILVER OR CRAP) IF I AM WRONG, WE LIVE IN BIZZARRO LAND'''''

************NEWS FLASH)))))))))))))))

MUSTARD SEEDS!!!!!!!!! KUDLOW HAS ANNOUNCED THAT THE MARKET HAS
******BOTTTTTTTOMED******* , SO NOW IT IS SAFE TO BUY, BUY , BUY....
HE JUST SAID IT ON CNBC.... HE MUST GET PAID WHEN EVER HE SAYS BUY.

jechilt
8th December 2008, 10:11
************NEWS FLASH)))))))))))))))

MUSTARD SEEDS!!!!!!!!! KUDLOW HAS ANNOUNCED THAT THE MARKET HAS
******BOTTTTTTTOMED******* , SO NOW IT IS SAFE TO BUY, BUY , BUY....
HE JUST SAID IT ON CNBC.... HE MUST GET PAID WHEN EVER HE SAYS BUY.

sarcasm, right?

cugir321
8th December 2008, 19:04
If it crashes again, he might as well look for another job. His credibility will be trashed.


sarcasm, right?

research24
8th December 2008, 21:40
Krudlowe calling a bottom is a sure sign of the coming collapse. If you play the opposite of what he says you'd score a perfect 100%.

Krudlowe never had any credibility, so how could he loose it? Krudlowe and Krammer, the posterboys of Wall Street. Ya gotta love 'em!

cugir321
9th December 2008, 19:53
Agreed!.....


Krudlowe calling a bottom is a sure sign of the coming collapse. If you play the opposite of what he says you'd score a perfect 100%.

Krudlowe never had any credibility, so how could he loose it? Krudlowe and Krammer, the posterboys of Wall Street. Ya gotta love 'em!