OT: Why is Warren Buffet always ahead of the game?

[itseasyas1-2-3]

We can talk about gold being used for money throughout history - when was the last time it was actually used as money? I’m genuinely curious.

In a hyperinflation situation where its cost $2000 for a cup coffee. Do you think gold keeps the same value in that situation? Would an ounce of gold be worth $5.5M? How much gold would it take to buy a cup of coffee?

I could have used a better example for a cup of coffee says a student remembers paying 5,000 DM's and the refill was 7,000 DM.

During that period silver began at 12 Deutsche Marks and at the end 543,750,000,000 Deutsche Marks.

Gold during tht period began at 170 Deutsche Marks and at the end 87,000,000,000,000 Deutsche Marks.

Farmers refused to accept worthless currency for their produce, but would sell for metals.
One thing farmers know is what is worth what.

 

[itseasyas1-2-3]

Huh? Housing crashed from 08-12. It certainly deflated and I think it will deflate again.

Not something I love giving a Like to, but I know house prices are gonna dive, including mine.
For those that don't know, its hard to get out of the road when you don't/won't see it coming.

 

[itseasyas1-2-3]

People will be able to buy houses - they did back in the day when there were double-digit interest rates on home loans.

You realize that home you bought for 38K in 1984 during high inflation is now 200K, right?

 

[itseasyas1-2-3]

Trying to follow. You honestly believe you have more gold than the US Government? Since it hasn’t been audited in 70 years it has to have less? There is no way it it could have more?

You realize I say that tongue in cheek? What I mean is, IF, IF, IF, IF the US actually had that gold on hand why would they not allow a visual audit since the 1950's?

For example, if you told someone you wanted to buy 1,000 head of cattle that they have for sale, and you say, "Let me see the cattle." and they refuse, do you really think they even have the cattle?

Gold is leased, loaned, leveraged out all the time. In 2013 Germany asked for their 300 tons of gold to be repatriated to Germany and the US said they would give them a small percentage now and the remainder within a couple years? The completion of that gold was LAST YEAR when the US sent them the last 110+ tons.

Why do you think the very first thing that moves into a country we are invading, like Iraq, the very first place is their Central Bank where all their gold is held? Don't confuse the Federal Reserve buying gold hand over fist with the US Treasury. Two separate entities.

Look, I don't know everything there is to know about precious metals, but I know enough. I could bore the shit out of you with a lot of other things most "normal" people don't pay attention to.

 

[itseasyas1-2-3]

You can’t just blindly pass your costs to the renter. There is a market rate . Newby investors that jumped into the game in 2022 will get rekt.

Lucky for my family, we don't have to face that battle. I feel bad that young people are just having their asses handed to them financially in many cases.

 

[itseasyas1-2-3]

Japan is begging for inflation. They can’t get it.

35 year mortgage there is a little over 3%

Before long the industry will be offering 50 year mortgages.

 

[drubendall]

I think at one point Japan had negative interest rates!

I am at 2.25 and I am a little pissed I missed out on a flat 2.0

Is this 15 year? I feel like I’ve been raped at 3.25. But 2.25….😍

 

[drubendall]

Not something I love giving a Like to, but I know house prices are gonna dive, including mine.
For those that don't know, its hard to get out of the road when you don't/won't see it coming.

They’re not gonna dive. There is a shortage of houses. Building slowed down majorly after the 2008 crash. It took several years for builders to get back on pace. We are at least 1 million homes below what we should be

 

[BTF69]

Is this 15 year? I feel like I’ve been raped at 3.25. But 2.25….😍

Ha! No, 30 year.

And it was almost 2.0 (like my college GPA) but it bumped up before I could get the paperwork started!!!!

 

[TampaBaySkers]

Before long the industry will be offering 50 year mortgages.

Mortgage is French means death contract. I wouldn’t be surprised to see 80 year mortgages. Only way to keep prices high and monthly payments affordable . Car payments will get stretched to 12 years.

People only buy based on monthly payments and not the actual price.. wild mindset

 

[TampaBaySkers]

They’re not gonna dive. There is a shortage of houses. Building slowed down majorly after the 2008 crash. It took several years for builders to get back on pace. We are at least 1 million homes below what we should be

One of biggest myths out there. There is not a shortage of homes.

 

[BTF69]

Mortgage is French means death contract. I wouldn’t be surprised to see 80 year mortgages. Only way to keep prices high and monthly payments affordable . Car payments will get stretched to 12 years.

People only buy based on monthly payments and not the actual price.. wild mindset

Shit, 30 is a scam.

But you are probably right.

I don't think most countries even offer 30.

 

[TampaBaySkers]

Shit, 30 is a scam.

But you are probably right.

I don't think most countries even offer 30.

Not fixed. Most countries adjust rates in 5 year intervals. Japan has a 100 year mortgage program from what I’ve been told but sure if true

 

[BTF69]

Not fixed. Most countries adjust rates in 5 year intervals. Japan has a 100 year mortgage program from what I’ve been told but sure if true

100 years!!! My god.

I feel like my 30 year one is 100 years and I pay extra.

 

[c3o]

It isn't coming in this guys lifetime. Or mine.

You can't be definitive on something you have no control over. I mean, you can try but nobody should take the claim seriously.

 

[TampaBaySkers]

100 years!!! My god.

I feel like my 30 year one is 100 years and I pay extra.

I’m always astounded by how many people don’t know how mortgages are amortized. A few big payments in the first few years will save you thousands and thousands of dollars in interest.

Banks are still writing unscrupulous loans… they approved my wife and I for a 55% DTI loan.. we were like how in the faq can we afford that?

 

[61bigredfan]

Fry cooks can't figure out how both things could be true.

I wouldn’t know. You gotta come up with a better routine. The fry cook thing is showing how limited your intellect is

 

[61bigredfan]

I’m always astounded by how many people don’t know how mortgages are amortized. A few big payments in the first few years will save you thousands and thousands of dollars in interest.

Banks are still writing unscrupulous loans… they approved my wife and I for a 55% DTI loan.. we were like how in the faq can we afford that?

Why would you take out a 55% DTI loan?

 

[GBRforLife1]

You can't be definitive on something you have no control over. I mean, you can try but nobody should take the claim seriously.

Things have declined far faster than anyone thought possible.

 

[TampaBaySkers]

Why would you take out a 55% DTI loan?

That’s my point fry cook. They are offering them which is dangerous. Housing meltdown 2.0

 

[NikkiSixx]

Japan is begging for inflation. They can’t get it.

35 year mortgage there is a little over 3%

they have a massive population problem and that society is very homogenous and isn't going to accept 'immigration' of foreigners.

 

[NikkiSixx]

Shit, 30 is a scam.

But you are probably right.

I don't think most countries even offer 30.

in Asia it is 5 years fixed, then variable after that, and the max is 15 years, and most are 10.

 

[TampaBaySkers]

they have a massive population problem and that society is very homogenous and isn't going to accept 'immigration' of foreigners.

Geniuses ! We have so much to learn from them

 

[Huskers123456]

You can't be definitive on something you have no control over. I mean, you can try but nobody should take the claim seriously.

I'll put it this way. NU could theoretically win the playoff this year. I have the same confidence our society won't collapse as I do the Huskers won't win the playoff. People spending time and energy on it is as crazy to me as Husker fans booking hotels and flights at playoff cities.

 

[c3o]

I'll put it this way. NU could theoretically win the playoff this year. I have the same confidence our society won't collapse as I do the Huskers won't win the playoff. People spending time and energy on it is as crazy to me as Husker fans booking hotels and flights at playoff cities.

I’m not trying to say it will collapse. I have no idea. Just that it could. Tomorrow or 5000 years from now. Look how quickly the world went to full retard during Covid. One black swan event and here we go.

Our society mirrors many which did end. Hence the speculation

 

[Huskers123456]

I’m not trying to say it will collapse. I have no idea. Just that it could. Tomorrow or 5000 years from now. Look how quickly the world went to full retard during Covid. One black swan event and here we go.

Our society mirrors many which did end. Hence the speculation

Of course it could. And if you use a long enough timeline it will. I clarified it won't in my lifetime or his.

 

[RBigredMax]

Before long the industry will be offering 50 year mortgages.

Honestly amazed it hasn’t happened yet. Given the length of car loans out to 7 years it seems like a logical next step. Then the person can pay for their house almost three times over the cycle!!

 

[RBigredMax]

100 years!!! My god.

I feel like my 30 year one is 100 years and I pay extra.

Keep paying extra - few things better than a paid for home and no debt!

 

[RBigredMax]

You realize I say that tongue in cheek? What I mean is, IF, IF, IF, IF the US actually had that gold on hand why would they not allow a visual audit since the 1950's?

For example, if you told someone you wanted to buy 1,000 head of cattle that they have for sale, and you say, "Let me see the cattle." and they refuse, do you really think they even have the cattle?

Gold is leased, loaned, leveraged out all the time. In 2013 Germany asked for their 300 tons of gold to be repatriated to Germany and the US said they would give them a small percentage now and the remainder within a couple years? The completion of that gold was LAST YEAR when the US sent them the last 110+ tons.

Why do you think the very first thing that moves into a country we are invading, like Iraq, the very first place is their Central Bank where all their gold is held? Don't confuse the Federal Reserve buying gold hand over fist with the US Treasury. Two separate entities.

Look, I don't know everything there is to know about precious metals, but I know enough. I could bore the shit out of you with a lot of other things most "normal" people don't pay attention to.

Let’s break in - Oceans 11-style and count that gold!!!!

 

[jflores]

Social security and medicare are half of all federal spending. The interest on the debt is another huge chunk, as is defense. Half of defense spending is veterans benefits.

The bottom line is that the USG spends the vast majority of its money keeping old people alive. Whatever party you support or whatever particular philosophy you espouse, when the rubber hits the road "the people" have to have a come to Jesus moment about what exact social contract can exist between the taxpayer and the elderly/disabled citizens of this nation. You cannot have any "budget sanity" until we figure out how to wrangle those costs.

This being a Nebraska board, there's probably more conservatives than most that say "get rid of them all". Which is certainly an option. However, the current generations of Americans are probably not culturally or financially prepared to live like the Waltons in one big home for decades. Given the choice, even most conservatives would probably prefer to maintain their own household and let Mom/Dad receive govt bennies from afar.

 

[Huskers123456]

Let’s break in - Oceans 11-style and count that gold!!!!

I'm confident we have just the people on this board to pull it off. Just ask them.

 

[TampaBaySkers]

Social security and medicare are half of all federal spending. The interest on the debt is another huge chunk, as is defense. Half of defense spending is veterans benefits.

The bottom line is that the USG spends the vast majority of its money keeping old people alive. Whatever party you support or whatever particular philosophy you espouse, when the rubber hits the road "the people" have to have a come to Jesus moment about what exact social contract can exist between the taxpayer and the elderly/disabled citizens of this nation. You cannot have any "budget sanity" until we figure out how to wrangle those costs.

This being a Nebraska board, there's probably more conservatives than most that say "get rid of them all". Which is certainly an option. However, the current generations of Americans are probably not culturally or financially prepared to live like the Waltons in one big home for decades. Given the choice, even most conservatives would probably prefer to maintain their own household and let Mom/Dad receive govt bennies from afar.

So you’re saying we gotta take out the old people. Gotta come up with a virus or something … I kid I kid

 

[dacred]

A couple reasons are he's a smart guy and secondly he is the insider of all insiders. When you know what's coming ahead of time, it's a lot easier to get out of the way. Example: I've been saying for quite some time that the banking system is in trouble, even the big banks. Let me give you my latest example...

There is absolute3 weeks ago Buffet sold over $ 7 BILLION dollars of Bank of American stocks. Then last week he sold another $ 3+ BILLION dollars worth of BOA stocks. At that point, he became less than a 10% holder of the stock and was no longer required to publicly posts his trades/sales of that stock. There's no chance he owns even a single BOA stock as of today. Why do I say that? Since 2022 Buffet has sold a lot of bank stocks.

He now owns ZERO BOA stock.
He now owns ZERO Wells Fargo stock.
He now owns ZERO USB Bank stock.
He now owns ZERO JP Morgan stock.
He now owns ZERO Goldman Sachs stock.
The volume of shares among these companies vary from 12 million to 346 millions shares.

Ray Dalio, another wealthy billionaire, and the owner of the largest hedge fun in the USA now owns ZERO bank stock. You have to ask yourself, what do these two incredibly successful businessmen know that you or I don't know?

Stocks aside, and you don't own your stocks either, unless you've spoken to your broker and ordered him to send a request to the transfer agent and have that entity physically send you the paper certificate.

I've said via the Dodd-Frank Act of 2010 any money you have in the bank is not yours, its the banks and you are an unsecured creditor. In subsequent legislation, the word "fraud" is used and allowed to be used in financial transactions.

Some of my fanboys on here like Walleye, Stone Temple Husker, huskerfan123456, et al can now begin to whoop and holler because I have 2 more posts I'm going to make regarding the BRICS+ countries meeting in Kavan for the next 3 days as well as a post on physical gold and silver..

Again, this will be long winded, and since I'm not being charged by the word, I guess I'll make my posts as long as I want.

I'm up 40% on JP Morgan stock I bought less than a year ago

 

[itseasyas1-2-3]

Let’s break in - Oceans 11-style and count that gold!!!!

I think the points I made in this post are all legitimate. Showing the inside of the facility would be a sign of strength, resistance to allowing it to be viewed is a sign of weakness or lack of evidence.

 

[itseasyas1-2-3]

I'm up 40% on JP Morgan stock I bought less than a year ago

Good. When you actually have the physical stock certificate in your hand you'll own it, not til then.

 

[itseasyas1-2-3]

Social security and medicare are half of all federal spending. The interest on the debt is another huge chunk, as is defense. Half of defense spending is veterans benefits.

The bottom line is that the USG spends the vast majority of its money keeping old people alive. Whatever party you support or whatever particular philosophy you espouse, when the rubber hits the road "the people" have to have a come to Jesus moment about what exact social contract can exist between the taxpayer and the elderly/disabled citizens of this nation. You cannot have any "budget sanity" until we figure out how to wrangle those costs.

This being a Nebraska board, there's probably more conservatives than most that say "get rid of them all". Which is certainly an option. However, the current generations of Americans are probably not culturally or financially prepared to live like the Waltons in one big home for decades. Given the choice, even most conservatives would probably prefer to maintain their own household and let Mom/Dad receive govt bennies from afar.

There's no financial answer to an unstainable debt and deficit problem. It's easy to use perjoratives and opining you have answers or solutions, based on the example you use,
to which there are none.

Choosing a select group, such as elderly/disabled/veterans doesn't begin to repair anything.

If you want to discuss "groups" I can give you a lengthy list of "groups" that should all share in the financial pain, you and I as well as those similarly situated would be among those "groups."

I'm happy to absorb real financial pain as long as I can extract that same level of financial pain from you.

Wanna give it a go? Let's see what type of Draconian measures we end up with.

 

[61bigredfan]

That’s my point fry cook. They are offering them which is dangerous. Housing meltdown 2.0

I thought your point was you are taking on too much debt, which makes you dumber than a fry cook. Not that I mean to offend fry cooks.

 

[RBigredMax]

I thought your point was you are taking on too much debt, which makes you dumber than a fry cook. Not that I mean to offend fry cooks.

As a fry cook I can say, while hurtful, I can’t argue the comparisons.

 

[BTF69]

I'm up 40% on JP Morgan stock I bought less than a year ago

My mom worked their for 40 years, she did their stock option program. I don't know how many shares she has now, but I know she has done very well for herself.

 

[BTF69]

Good. When you actually have the physical stock certificate in your hand you'll own it, not til then.

Again, I would watch a reality show with you as the star. We just need a good name for it, but I would watch it.