Guys what is going to happen to the retirement dollars in 401k, should I pull that money and buy silver with that, or is it worth it waiting and exchanging it to new currency, what is the advice. Thanks.
@PiercingKnight A new currency will revalue the dollar downwards because there are unlimited dollars, and revalue real assets, like gold/silver higher because it's supply is limited. So anything denominated in dollars will lose value against items of value like, food, energy, gold/silver.
** in most states mortgages are a non-recourse loan, in some states you can be sued. However we do not have debtors prisons (yet) & it's harder but U can file bankruptcy. We are conditioned not to do this but what is the poing of paying for a house U don't live in. Also, you never truly own your home. some Retired people have lost their homes because property taxes were raised.
R u saying I should pay only minimums of my loans and buy gold and silver instead, then wait till the dollar worth of those metals go 10 fold, then use that money to pay off the loans??? Because the loans are staying at a fixed dollar amount. If that's what it is, Holy Shit. Doesn't it make sense now that right now is a perfect time to get loans then??? I mean I'll just pay minimums on it then and wait till my metals go ten fold and pay for it then because the dollar amount of loans stayed fixed
The reason you need a loan is cuz the products are too expensive. If you just buy silver and gold you will buy a bigger and better product in the future for less. This is because to many people use debt and can't pay.
@davincij15 But is it going to be 10 fold cheaper? Forgive my ignorance on the subject I'm trying to learn, but I mean the loans that people already have today, they can just buy silver then wait till silver dollar value goes something like 10 fold then get dollars and pay the loan back. You will only end up paying about 10th of that loan. But if one just buys silver and waits till it goes 10 fold to buy things, the buying power will be the same as it was at the beginning. Is that right? Thanks
No, things purchased with credit will go down in value extremely fast because most people will not have any money or credit to buy those items thus how will someone sell it except with a lower price. The price homes in your area are function of people able to borrow and pay the monthlies.
@davincij15 True I c what u mean purchases with credit will have to go down because most people will not have any money left and will not have precious metals either. They will lower prices and it will be easy to buy for those who have precious metals. But r u sure it will go down much because isnt it the whole purpose of this collapse to bankrupt people so that those who have no metals wouldn't be able to buy much and go 3rd world? I know products at stores will go up in prices why not credit
@PiercingKnight Please read "Conspiracy of the Rich" by Robert Kiyosaki. It's his latest book. davinci is telling you all some real stuff. But there is good debt and bad debt, and Kiyosaki does a good job of explaining the difference. Also, by the time you pay just minimums on your houise, you will have paid about 3x the principle. Start a home based business so & can write some of it off, put that savings toward principle. good info on youniversal.blogspot
@PiercingKnight a mortgage most likely has a lower interest rate than a credit card or other type of loan. Say a 0% credit card for a year... That doesnt seem so bad to me. You run into problems between buy/sell premiums, but if you can afford the minimums, you can walk away with a few ounces if you have to sell off when the interest kicks in. I have seriously considered this.
@PiercingKnight The key is you have to be able to pay minimums, so getting overleveraged can be dangerous.
A 0% credit card for a year... That doesnt seem so bad to me. You run into problems between buy/sell premiums, but if you can afford the minimums, you can walk away with a few ounces when you have to sell off to pay the principle in full when the interest kicks in. I have seriously considered this. And I think its a nice way to use the fiat system against itself. Free money!
So if someone has loans like for cars and houses they shouldn't be putting all their money into it & instead they should buy gold and silver and then pay 4 those things after the currency collapses with the money they got from gold & silver correct? But y I don't get it. After the currency collapses all the money that one will have by selling his gold and silver will have the same buying power as the money he invested to gold and silver at the beginning, right?
Just remember everyone talks about confiscation of gold and silver (what I mostly talk about) but they never talk about price controls that EVER SINGLE GOVERNMENT has done in the past. Thus for slow minded rent price controls are the biggest thing government will do as the government creates massive inflation.
Good luck with the "deflation" the media is telling you about.
@davincij15 Sure folks like Glenn Beck talk about gold confiscation, but I haven't heard about silver confiscation. I guess I'll take more time to listen to some of your videos. And yes, I realize rent control is a concern for folks in a large city like New York, or either coast for that matter, however in the mid-west its hardly a concern. I am able to provide quality housing in a two bedroom unit with pets for $750 inclusive. That pays for all my costs and a steady income stream as well.
Davinci, brother I have been appreciating you from the get go sharing valuable info on money. I really appreciate the google video on "The Gig Is Up". Thank you very much for the link. A lot of people won't want to hear what you are saying about homes and values in this video, but it is true.
@davincij15. In USA looks like people cant make much money from selling house / property. In Australia house / property is Our GOLD MINE homez. Over here people do double payments on there mortages to pay most of mortage or all of it and then sell it to make Money $. Over here alot of peeps also buy foreign currencies like U$, British Pounds, Euro. They are more risky then paying off mortage.
Crazy. I say save gold don't pay off the mortgage. I have noticed a friend of mine has 1.25% mortgage and is paying $20,000 a year of on his mortgage instead of $20,000 going to interest. He is proud of this. He does not get it. All that money is lost once home prices collapse.
dnt read this(cuz it really wrks). u will gt kissd on the nearest frieday by the love of ur life. 2mara wll b the bst day of ur life hwever if you dnt post ths comment 2 at least 3 vids u will die withn 2 days nw uv startd readn this dnt stp this is so scary snd ths ovr 2 5 vids in 143 mins when ur done press f6 nd ur crush's name wll appear on the screen n big letters ths is so scary cuz it actully wrks ths really wrks
I have three houses, actually a house, a three bedroom apt, and a small commercial place . I bought them cheap, 5 years ago I could have never afforded all of them. It's now a great opportunity to buy stuff, all my places were worth almost a million 5 years ago and this is free lunch for me with this bargain prices. Think about it. Crises are made to make money, if you don't buy now, then when? Gold is good but remember that ALL PRICES are rigged, play only as much as you can lose.
All I can tell you because you have made up your mind is, in time you will learn how that was a wrong decision. I could tell you how, but you will not listen.
watch?v=cHUepjsIxV4
Good luck.
BTW all prices are rigged, especially home prices.
Yes, all prices are rigged but I bought homes VERY CHEAP, any cheaper than that it would be an incredible bargin. Now tell me why was that a wrong decision on my part? I am listening now...
Yes, but nobody can kick me out of my home; so what am I supposed to do? Invest 200k in gold and silver and hope that it will go up, not down and then buy a house? I already bought houses, I don't need to wait for gold to go up. What about if it goes down? I'm screwed right? Let me tell u something. I invested money in Eastern europe back when a home was 12000 dollars and the economy was PURE SHIT. Same properties went up six fold in s7 years, sold them and bought others. A house is a house!
3. Any bank that can't cut it gets no money and goes bankrupt does not pay over the FDIC limit for depositors.
The above situation would have to occur, with that china would continue buy US debt and hold dollars instead of buy everything physical it can get is hands on.
If all that happened.
You still would able to buy the same shit or more.
Look there is no changing your mind so lets have some fun lets put imagine we put 200k on home today and 200k in gold today. Lets see how things turn out.
I will do a video on it. :)
Then we will see who was right one year today and 2 years today and 3 years today and 4 years today.
So why would I crap my pants thinking that they could rob me by depressing gold prices when I can sit comfortably and make some rent money. There will always be renters as more and more people cannot afford their 1500 $ mortgages but can afford my 500$ rent.I bought this second house with 100 K. Had I bought gold, can you guarantee that I could buy a house selling that gold 5 years from now? I have a little gold and silver but in my opinion nothing is better than a FUCKING HOUSE! I
Here's the other side of the story. I own my home free and clear (not a big home) andno matter if the "value" goes up or down , to me it's worth a million bucks because it keeps me warm and dry. Recently I bought another place and I had the choice of buying gold and silver; I rented the place out, use the money to buy food. Had I bought gold I would be scared shitless that "I might lose" when IF IF IF they decide to drop gold prices. Every commodity price is controlled by the elites.
Allow me to tell you that you are right and wrond at the same time. In america buying a house meant getting in a huge debt with little money . If the house value drops from 300k to 150k you still owe 300 k. The retatrded americans broke -ass uneducated hillbillies wanted to show off so they bought a house that they could barely afford instead of buying a smaller home or an apt. They drove prices up, because they paid whatever it was asked, through credit, for a house.They were fooled to pay more
Yeah, you're right!! Real Estate will go back up with everything else: your products, supplies, all your essentials will sky rocket!! And yes you may gain a little equity on your home but, you still going to have to borrow more just to put food on the table soon, its not going to be a easy ride at all...!!
you pretty much got the point The State is a problem not a solution the bureaucrats are your enemies not your servants , taxes are money that the state steals from you in order to pay his battalions of useless bureaucrats in order to maintain control over you and over the territory , you do not own your house even if you think so it is leased to you by the State , please try to wake up those sleepy Canadians I have never seen a people so bowing to the state as those mother fucking canucks
are you in Canada or in the US , pancake ??did you figure out that this rush for gold and silver is just another rip off ..what is Gold anyways it is just a shine non corrosive metal easy to work that's all , you cannot eat gold but gold can get you killed , here a piece of advice for you pancake instead of gold go buy guns and ammo , they will save your life and with them you can take all the gold you want when chaos interrupts
do not believe what all those wall street crooks tell you , they are the source of this world's problems , these people feed off the sweet and blood of the workers now they tell you go buy gold buy gold because they can see in the future , well if that was true they will just keep their secrets to themselves and become rich do not you think , these are professional deceivers , they want you to buy gold so that they can sell theirs when the prices reach the roof
Yes the capitalist game is corrupt to the core and brings only sorrow tears and blood to those who play it , but when you accept to be part of the game you become corrupt as well , it is not buying gold that will save the world ...it is radically changing the whole system , Peter Schiff and other professional deceivers are just selling you another lie , ask yourself where from these predators have earned their wealth ? it is all stolen by tricks from the working class through speculations
Once I see big names like Cramer or Kudlow tell me to buy gold I will be selling so fast it would not be funny.
So is capitalist to blame? Well first of it was government mixed in with capitalist to deregulate the wrong things that cause the problem.
Governments are instituted among men to serve the populations. The rich and powerful took full advantage of that and go you to think and believe the government was serving you all the while it was serving the wealthy.
I am working class among you and I use to believe that government was the answer to my problems. I have woken up from that fantasy and to realize that government is the problem. And we have been duped into thinking otherwise.
Finally, no matter where gold goes in price up or down it will always provide you with wealth that to cover the basic necessities.
Paper money will not do that.
It is true gold can get over valued like a stock or a home but it's true value remains. Always!
This was done with socks in the 80s and Tech stocks in the 2000 and houses after words. Each time what did you see on TV? People making it rich in each of those items and experts coming on telling you to buy, buy, buy.
Now what do you see on TV Experts coming on saying buy gold buy silver? Hell no the only ones telling you to buy gold is the are the same people you ignored when they told you not to buy a home or stock when the market was booming.
Land will be king -- we may see a outflow of people from the cities to rural areas -- at least with land you can grow your own crops, cut down trees for firewood, hunt for game, water, etc. With solar and wind power you can be relatively self sufficient. Add land to your gold/silver portfolio.
its so easy if have some postive equity in your house buy silver and rent a small flat. If u have 50.000 in positive equity u can sell your silver at 1.000.000 Dollars. When u can buy a nice house thats really yours and for the rest american stocks that pays you dividends.
Information I can use, explained in a way I can understand, thank you. I'm Canadian and can't walk away from my mortgage. I will now make only my regular mortgage payments and save my money for taxes and food. Out of fear I'm trying to make many lump sum extra payments and no longer have much savings, I'm Scared and trying to "pay this off" which I can't for many years to go. What I don't understand is where do people buy gold "coins"? My friends or family don't do this. Also, what about GICs?
Dude after a year of taking to my wealthy friends they are now buying gold. It is serious now, if you have no gold or silver it does not matter what price you pay take 50% of your savings you have buy some.
Go to any of the major 5 banks in Canada ask to buy gold, the teller may not know about it so ask to speak to the manager. Royal Banks has the highest price and Scotia Bank has the lowest.
For most Americans the information you are telling everyone is some what too late, others will dismiss you and say your wrong ect. 1 thing that is true this crash is not by chance, the $ will crash as no fiat currency has ever survived. When the usa went off the gold standard like all paper currency it was the plan of the elite bankers to rob the people of there wealth for worthless paper which people except as real money. America is a consumer not a producer your country is broke prepare !!!
The Man who will bring this in is Mr Obama, he can do no wrong... why because after bushes mess Americans needed a "change" the magic word of Obama campaign and people thats what you will get a BIG CHANGE !!! Obama was schooled by Zbigniew Brzezinski member of the trilateral commission and the CFR,not forgetting Obama mother was a member of the Ford foundation and World Bank. Im not going to go on with all the info i know it would take to long but the american people should look into Mr Obama
Considering the way the government is going to bailout and stimulate, would it not be a good idea to be as leveraged as possible. Being in as much debt as possible would be beneficial if we run into a heavy inflation period or even hyper inflation.If you bought a million z dollar home in Zimbabwe 5 years ago, it would be easy to pay off considering school teachers make 3 trillion z dollars a month. Why not max out the CC and buy silver or tangibles. Is hyper inflation on the way, when?
Love the advice man. I inherited my late mom's condo recently and I'm a big real estate guy. I'm going to pay the 78,000 mortgage with life insurance. I've got 33 oz of gold and I'm going to buy 1000oz of silver. I'd be loath to put all my eggs into the gold/silver basket. Plus it knocks 650 dollars a month off my expenses and the government will help themselves to 50% of what you make off you precious metals.
also I'm not looking at the value of my condo, right now it's valued at 250,000 but honestly I wouldn't care if it was worth 100,000 because I have to live somewhere and why not rent free.
My point is... if are an ordinary guy living on rent or making mortgage payment... you are better off owning gold stocks, commodity stocks, gold certificates etc... and only a small percentage of your savings in bullion or coins so that it is easier to carry around without attracting much attention...
Actually I would say it's the other way around have a few stocks in gold and most of your money in gold.
The only reason oil companies did not get a win fall tax is because they are connected. You can bet your top dollar a win fall tax is coming to gold stocks near you.
The overseas expansion was not at the expense of the avg American. The Avg American is a dumbass who is hypnotized by corporate & the media to be in debt. You don't need me to tell you this --- You know this already. These folks in the U.S have to pay the price for borrowing all that wealth from Asia and they will - this is the only way to learn, sad to say.
I am at least glad that Amerians are getting their act together and not spending that much now. They really do need to get Silver ASAP!
Yes, the complain about the bonuses but not one of them are changing banks or understand the dollars have no value when it's printed to pay the employees millions who for destroying the company and the economy.
As the dollar crashes and it will, the obama bail out is just a prop up which wont work. The American people will rebel, some who are wealthy will have already moved abroad or have enough paper money to deal with hyper inflation that will come for a while, and when you are on your knees obama the puppet of the elite jewish bankers who funded his path to presidency will introduce the new currency the amero by then you will be part of the new North American union Canada,Mexico America as one.
There will be a gap between the dollar crashing and the new currency to be introduced and for this you will need something of value to trade for food and services till it is introduced. they the elite would much prefer if the people would except this change of the dollar to amero with out all the objection it would get from the loyal American people then you would not see this economic crash we have now. But they need it to bring down the dollar.
Try to see if you can get 1oz, 10oz & 100oz Silver. This way you diversify just in case (who knows what may happen). I have many 100oz and got rid of my bullshit 1000oz -- Luckily b/c Silver went up, I made a profit but now I'm using that same money to back in silver making sure it's not the 1000 oz ... man that was one heavy ass mother fucker to lift, LOL!
Ya, I agree with ramp31. I chose the smaller bars and rounds rather than the big stuff. In gold I bought 1/10th ounce coins and in silver I bought only 1 ounce rounds and bars. In a collapse situation, if you need to barter with them, Having smaller denominations will give you a lot more flexibility.
silver did well today, i kinda think its the end of the low silver price, the time has come, pluss china stated yesterday there not gona take anymore usa t-bills, so guys the time is now if ever so buy buy buy,
probably we will get a period which looks like deflation, but is not, it only looks like because a lot of people do not want to spend money. But all the money printing and stimulus packages will eventually give rise to inflation or hyperinflation. Then gold, and silver follows gold, will get very high values, because particularly gold is an inflation hedge.
If you can afford to pay all of your bills (including mortgage), have been purchasing PMs & still have a solid income (for now) wouldn't it be best just to keep on doing this formula? As you said when the price of PMs go crazy, you should sell them for a house. If you already have a house & the price of PMs go crazy, then you can sell them and pay off what you owe on your house without having to go through foreclosure/short-sale, relocation or taking a credit hit.
That is what I am saying but I am also saying pay your bills until you can not. If that happens do not surrender your gold and silver to pay your bills. Keep it like an insurance policy you can't sell.
Thank you for the reply. Keep up the great vids. You are one of the people who influenced me to realize I was right to turn to PMs. Many thanks Davinci =)
Also if you have gold and silver stored at your rented apartment or house bought on mortgage... chances are that you will be evicted for not paying the million/billion dollar rent or mortgage... without guns you are sitting ducks for the looters... Physical gold and silver is better suited for folks who own their house and who have guns...
I know a few people who have worked all their lives and save money in the bank or stock market. Are you saying they should take out the meager 100k and buy guns only?
of course not, they should buy bullets also. lots and lots of bullets. full metal jacket bullets, hollow point bullets, +P+ bullets, all the bullets in the world.
If hyperinflation happens in US, force majeure and martial law will be declared as wide spread rioting will happen...law & order will collapse... People who own their own house and have their guns, gold and food will survive... If you live on rent, you will have to hit the streets and if you have gold and silver with you and no guns... you will the sitting ducks for looters and rioters...
damn comex opens stalls at 919..20 shorts came out .. like clock work out 918.65 was a fun hour like clock work guys ... woof ... nap time chop around for the next few hrs .. have fun ..
Being indoctrinated in the government public schools denied many of us the ability to count. A morgage is very bad business transaction from the start. After a 30 year morgage you pay for the house and buy the bank another 2. Do the math.
All should inquire into what the down payment for for a mortgage alone can yield you in the purchase of land acerage. Buy land and improve it that's where value is. Build your own home. Also study allodial title and land patents and ownership through a trust.
"I sincerely believe ... that banking establishments are more dangerous than standing armies, and that the principle of spending money to be paid by posterity, under the name of funding, is but swindling futurity on a large scale."
Most people think the economic trouble will unfold into 2 waves. First (now) is a deflationary time - paper money gets harder to come by. Second soon after is hyperinflation as excessive money printing kills the dollar. If this unfolds, the best strategy is to have a large mortgage and enough cash to pay for a year or so - cash to carry you through the 1st wave. Put your remaining assets in silver and gold. After hyperinflation makes your mortgage trivial, sell one coin and pay it in full!
If hyperinflation happens, your mortgage rate will also hit million or billion percent... One coin will not pay it in full... All debt has a force majeure clause which allows the lender to change the original terms of agreement... If hyperinflation happens stay with a friend or family who own their house... Whose mortgage is paid in full... They will be the only ones who can will have a roof over their heads...
I'm going to buy some more silver and gold before this Friday. Already converted 20% of my assets to silver and other commodities. Trying to open a swiss bank account to transfer money over while the dollar has value.
real estate taxes are too high, aren't they? We are screwed unless Congress does something to return us to Jacksonian/jeffersonian thinking-which will never happen, I am afraid.
Man, that is exactly how i feel about the fiat money system. it is a con game that started when they got rid of gold backed currency. I pray that the public will finaly 'get it' and understand what the banksters have been doing by inflating and deflating the money supply. Bastards, hope they burn in hell.
Thomas Jefferson saw the potential for abuse by the banks and wanted to prevent it through his words of wisdom, but through the years people have been brainwashed to believe a home was always your best investment and a good place to spend your money ( aka the money pit)
wed morning gold 902 silver 12.45 something is up ebay ..buy it now price 25 krugerrands 22.300$ 892.. each credit swiss bars under a 1000.oz cheapest prices in awhile .. gold has me concerned .. silver is the play ..... hang tough guys tempted to buy the kuggies loading silver instead .. woof ...
I purchased some from Apmex on yesterday's low. (10 oz sunshine bars and Gold American Eagles). They were running a deal at $.50 off of the premium. Even if these prices drop, I believe we will see higher prices in the long term and I really like those $.50 discount deals. Wish they would offer a $1.50 discount deal!
When ever there is a great economic collapse those who hold real assets such as gold and silver and commodities always are the ones to prosper. There are hundreds of similar examples like the one I stated earlier.
Hyper inflation hits the US we will be able to pay off all our large debt with very little gold and silver. While everyone is still trying to pay off with paper money which has devalued. Just a little example of the inflation security of gold and silver. There is a story of a man who was the door man of a hotel and held 10 to 20 oz of gold as his total savings and when German currencies collapsed and hyper inflation hit he bought the hotel with the gold. His name was Hilton.
Unless you can pay off your home completely and guarantee it will appreciate in value greater than inflation and devaluation of dollar purchasing power and the opportunity cost of making more money else where rather than paying 30 years of debt mortgage which the banks own buying a home using mortgage is an illusion of debt = money.
It will be very hard to the people of the US and Canada thi economical meltdown, He in Mexico my generation knows about economical crisis and low pay jobs, but we keep on going, we are humans adaptable and figthers. Silver is god's money, material things are god's thing. buy silver and take care of becoming dessarter.
keep doing these videos man, greetings from juarez, mexico
Bought another 1000 oz of silver in varying oz. Will trade all the silver in for gold when the ratio gets around 15 to 1. We will see stagflation and/or deflation after the inflation to come. I hope hyper inflation doesn't come because there is no way to predict how the government and the private bank called the Federal Reserve will do.
US dollar has has depreciated 96% of its value since 1913. Gold and Silver has been considered real money for over 5000 years and retained all its value with inflationary pressure. Purchasing power is the key. All other arguments is just the conversing of the uninformed about the fractional fiat monetary system.
Davinci I don't get your reference to Slumdog Billionaire. I'd never heard of it so I acquired a copy and just finished watching it. Very moving film, but why begrudge India's recent (relative) prosperity? It's not a zero sum game, true wealth, I mean.
If the government would simply get out of the way, we'll all do fine over in the New World. Until then...be on strike!
All in USA should default on mortgages & buy gold/silver. Let them try to evict even 30% ppl if they default. The time is NOW to hit the streets in protest.. We must actually stimulate US for the ppl
What if u have already finished paying your mortage and own the whole house 100%? Should u sell it and buy gold and silver and rent for next 5 years? Or borrow against the house and buy gold and silver?
What I would do is borrow what I can carry as monthly payments, and buy only gold (gold is less volatile) and once it doubled I would sell half my gold and pay off the debt and keep the rest and thank the bank.
:)
lol
I have read so many stories of people doing this in early 2005 only to be ridiculed and laughed at, today they are laugh at the bank.
Thank you for the passionate advice. Don't think I'll pay off my house now. I'm not in a position to sell either. Purchased the house in 2001 for $215 K. Refinanced at the top of the bubble at 5.5% - 15 year fixed. It was valued at $320 K at the top. I still owe $155 K and it's probably going down in value faster than my payments, but I'm not in a position to sell yet. Neighbors house was just listed at $279K. Dropping like a rock! But, I don't think I'll double up on payments anymore.
Finally someone is talking sense! 11 years ago I looked around at everyone as they frantically bought houses that were twice what they needed. Even single guys like me were buying houses (DUH!). I've always considered a house as a tool that is designed to keep the rain and wind out while you sleep. For that reason I moved out of my apartment and into the condo I"m in now. I ended up paying about 80 bucks a month less and got an extra bedroom and an extra 3/4 bathroom as a bonus.
2. Oh, and did I mention that my house is bicycle distance from work? I always tell everyone at work that I live a half hour from work then I throw in "on my bicycle!". I'd like a bigger garden than my deck garden but I'm not paying an extra 200 thousand dollars just to grow some broccoli! I can buy a lot of vegies for 200 grand!
you are 100% RIGHT. housing is a liability; and is owned by the state government, through property taxes - even if you pay off the mortgage! not to mentioned HOA fees, insurance, etc. housing is a loser; its the big lie. i have already defaulted because im upside down; housing cannot come back with unemployment etc where its at. you pay 2x as much to own, and without annual equity appreciation expectation, you are THROWING MONEY AWAY. No appreciation expected now;
not to mention the network of leeches (like 6% commissions on transactions, title, etc) that exist solely on YOUR immovable asset: your home. Thats why id also advocate gold and silver; because it is a TRUE asset; there is no debt attatched to it, and no taxes if you pass it to your heirs (unlike property).
You do know you paid taxes when you buy and resell gold right? If you make money on the gold, you would have to count it as income that is taxable unless you like to have a date with an IRS auditor.
Gold and Silver eagles are not reported not matter how much you buy. They are the only exception to the rule and it was intentionally set up by the government.
Try buying some and not pay sales taxes except through internet. Try selling a decent amount of it through any dealer and try and pay no taxes on it. You pay taxes one way or another. Even if you figure out a way illegally, when you purchase anything again, you get taxed again on sales tax.
No sales tax in those states but you will get taxed on income tax when you sell your gold at a profit. You can't escape taxation...which is the point.
You got it Pontiac! That is the real problem morality is used against us.
However I am not advocating that you not pay your debts as agreed. I am saying use it to your advantage.
And all though I did say hand back the keys and keep the gold, this is a part of the contract agreement. They can't come after you for the money lost on the home.
DJ! You nailed it! Your possesions DO NOT define who you are. If people would get just that one fact we would have a cultural revolution and people would be FREE from this materialistic, self-imposed Hell.
That's damn right. I SAVE my money (buying the precious too). And you know what? When I NEED something or WANT something that will add real meaning to my life I CAN AFFORD IT because I'm not buying useless crap! Keep it coming, DJ!
Silver collapsed in the 80s from over speculation as well. If industrial needs lowers, so does demand for silver. He is right about silver to a point.
I wish you would do more vids. Good news. I bought a modest house in a small town. It can decline to zer0- and will still be cheaper then rent. I cant rent a couch to crash on for my payment. (fixed 30 yr) 5.5%. A house is only as good as the neighborhood. ie- thrifty town- better chance of sound finances for me.
If you own your house outright, I don't think it would be a good idea to mortgage it to buy gold and silver. Why, because if you lose your job and can't pay the bank back, you will have to sell your gold and silver to pay the bank. Will gold and silver be worth more when that happens, maybe, maybe not. I'm not willing to take that chance.
You lose your job, you can't pay rent either. You'll be out on your ass either way.
Love how you quote people which made fiat currency and the monetary system worked in their favor because they understand the system. They never advocated gold like you're peddling it.
The economy is controlled by THE BANK. This depression will only be done when they have their One World Government.
freetubester 8 months ago
Guys what is going to happen to the retirement dollars in 401k, should I pull that money and buy silver with that, or is it worth it waiting and exchanging it to new currency, what is the advice. Thanks.
PiercingKnight 1 year ago
@PiercingKnight A new currency will revalue the dollar downwards because there are unlimited dollars, and revalue real assets, like gold/silver higher because it's supply is limited. So anything denominated in dollars will lose value against items of value like, food, energy, gold/silver.
quietlike 1 year ago
** in most states mortgages are a non-recourse loan, in some states you can be sued. However we do not have debtors prisons (yet) & it's harder but U can file bankruptcy. We are conditioned not to do this but what is the poing of paying for a house U don't live in. Also, you never truly own your home. some Retired people have lost their homes because property taxes were raised.
captainterrible525 1 year ago
R u saying I should pay only minimums of my loans and buy gold and silver instead, then wait till the dollar worth of those metals go 10 fold, then use that money to pay off the loans??? Because the loans are staying at a fixed dollar amount. If that's what it is, Holy Shit. Doesn't it make sense now that right now is a perfect time to get loans then??? I mean I'll just pay minimums on it then and wait till my metals go ten fold and pay for it then because the dollar amount of loans stayed fixed
PiercingKnight 1 year ago
@PiercingKnight
The reason you need a loan is cuz the products are too expensive. If you just buy silver and gold you will buy a bigger and better product in the future for less. This is because to many people use debt and can't pay.
davincij15 1 year ago
@davincij15 But is it going to be 10 fold cheaper? Forgive my ignorance on the subject I'm trying to learn, but I mean the loans that people already have today, they can just buy silver then wait till silver dollar value goes something like 10 fold then get dollars and pay the loan back. You will only end up paying about 10th of that loan. But if one just buys silver and waits till it goes 10 fold to buy things, the buying power will be the same as it was at the beginning. Is that right? Thanks
PiercingKnight 1 year ago
@PiercingKnight
No, things purchased with credit will go down in value extremely fast because most people will not have any money or credit to buy those items thus how will someone sell it except with a lower price. The price homes in your area are function of people able to borrow and pay the monthlies.
davincij15 1 year ago
@PiercingKnight
You should take the time to read about hyperinflation. Yes you could borrow and pay back but that's all has to done with good timing as well.
At one point in Germany you could buy a city block and all its buildings for one oz of gold.
davincij15 1 year ago
@davincij15 True I c what u mean purchases with credit will have to go down because most people will not have any money left and will not have precious metals either. They will lower prices and it will be easy to buy for those who have precious metals. But r u sure it will go down much because isnt it the whole purpose of this collapse to bankrupt people so that those who have no metals wouldn't be able to buy much and go 3rd world? I know products at stores will go up in prices why not credit
PiercingKnight 1 year ago
@davincij15 Great answer. I too reached this conclusion on my own, and am glad to see this video reaffirming the position.
RockyMountainPrepper 2 months ago
@PiercingKnight Please read "Conspiracy of the Rich" by Robert Kiyosaki. It's his latest book. davinci is telling you all some real stuff. But there is good debt and bad debt, and Kiyosaki does a good job of explaining the difference. Also, by the time you pay just minimums on your houise, you will have paid about 3x the principle. Start a home based business so & can write some of it off, put that savings toward principle. good info on youniversal.blogspot
captainterrible525 1 year ago
@PiercingKnight a mortgage most likely has a lower interest rate than a credit card or other type of loan. Say a 0% credit card for a year... That doesnt seem so bad to me. You run into problems between buy/sell premiums, but if you can afford the minimums, you can walk away with a few ounces if you have to sell off when the interest kicks in. I have seriously considered this.
quietlike 1 year ago
@PiercingKnight The key is you have to be able to pay minimums, so getting overleveraged can be dangerous.
A 0% credit card for a year... That doesnt seem so bad to me. You run into problems between buy/sell premiums, but if you can afford the minimums, you can walk away with a few ounces when you have to sell off to pay the principle in full when the interest kicks in. I have seriously considered this. And I think its a nice way to use the fiat system against itself. Free money!
quietlike 1 year ago
So if someone has loans like for cars and houses they shouldn't be putting all their money into it & instead they should buy gold and silver and then pay 4 those things after the currency collapses with the money they got from gold & silver correct? But y I don't get it. After the currency collapses all the money that one will have by selling his gold and silver will have the same buying power as the money he invested to gold and silver at the beginning, right?
PiercingKnight 1 year ago
Thank you. I have a house and rentals. Please keep telling people to sell their homes to me and turn around and rent from me. Again, thanks!
Donko2 1 year ago
@Donko2
Just remember everyone talks about confiscation of gold and silver (what I mostly talk about) but they never talk about price controls that EVER SINGLE GOVERNMENT has done in the past. Thus for slow minded rent price controls are the biggest thing government will do as the government creates massive inflation.
Good luck with the "deflation" the media is telling you about.
davincij15 1 year ago
@davincij15 Sure folks like Glenn Beck talk about gold confiscation, but I haven't heard about silver confiscation. I guess I'll take more time to listen to some of your videos. And yes, I realize rent control is a concern for folks in a large city like New York, or either coast for that matter, however in the mid-west its hardly a concern. I am able to provide quality housing in a two bedroom unit with pets for $750 inclusive. That pays for all my costs and a steady income stream as well.
Donko2 1 year ago
@Donko2
I have an asset it's the ability to create software fast, I have turned that into and steady income stream.
You have the house.
They are both require work to get that money coming in, you can not have an asset and do ABSOLUTELY nothing.
At the end of the day I like what I am doing and don't look at it as work so I have not worked a day in my life.
davincij15 1 year ago
Davinci, brother I have been appreciating you from the get go sharing valuable info on money. I really appreciate the google video on "The Gig Is Up". Thank you very much for the link. A lot of people won't want to hear what you are saying about homes and values in this video, but it is true.
Jaxx137 1 year ago
@Jaxx137
Thanks
davincij15 1 year ago
@davincij15. In USA looks like people cant make much money from selling house / property. In Australia house / property is Our GOLD MINE homez. Over here people do double payments on there mortages to pay most of mortage or all of it and then sell it to make Money $. Over here alot of peeps also buy foreign currencies like U$, British Pounds, Euro. They are more risky then paying off mortage.
nishkov 1 year ago
@nishkov
Crazy. I say save gold don't pay off the mortgage. I have noticed a friend of mine has 1.25% mortgage and is paying $20,000 a year of on his mortgage instead of $20,000 going to interest. He is proud of this. He does not get it. All that money is lost once home prices collapse.
davincij15 1 year ago
Where should people live then ? the price of rent keeps going up too ...
scoobydog411 1 year ago
@scoobydog411
Not according to the government so you should be fine. :)
davincij15 1 year ago
This guy is fuckin awesome.
skorpionsks 2 years ago
This has been flagged as spam show
dnt read this(cuz it really wrks). u will gt kissd on the nearest frieday by the love of ur life. 2mara wll b the bst day of ur life hwever if you dnt post ths comment 2 at least 3 vids u will die withn 2 days nw uv startd readn this dnt stp this is so scary snd ths ovr 2 5 vids in 143 mins when ur done press f6 nd ur crush's name wll appear on the screen n big letters ths is so scary cuz it actully wrks ths really wrks
mexicanking27 2 years ago
I have three houses, actually a house, a three bedroom apt, and a small commercial place . I bought them cheap, 5 years ago I could have never afforded all of them. It's now a great opportunity to buy stuff, all my places were worth almost a million 5 years ago and this is free lunch for me with this bargain prices. Think about it. Crises are made to make money, if you don't buy now, then when? Gold is good but remember that ALL PRICES are rigged, play only as much as you can lose.
sharkloaner 2 years ago
All I can tell you because you have made up your mind is, in time you will learn how that was a wrong decision. I could tell you how, but you will not listen.
watch?v=cHUepjsIxV4
Good luck.
BTW all prices are rigged, especially home prices.
davincij15 2 years ago
Yes, all prices are rigged but I bought homes VERY CHEAP, any cheaper than that it would be an incredible bargin. Now tell me why was that a wrong decision on my part? I am listening now...
sharkloaner 2 years ago
An asset is an asset and it will always have some value. With that said what is it's out look?
1. Option arms crisis is coming like and is bigger than sub prime.
2. Unemployment is at 20% (real number) 15% U6 government number and 8.9% U3 MSM number and rising.
3. More than a Trillion are printed each month and given to the wealthy, this will be massively inflationary, prices my rise but value will drop.
4. Property value can be destroyed by legislation Example: outlawing lair loans, taxes,etc
davincij15 2 years ago
Yes, but nobody can kick me out of my home; so what am I supposed to do? Invest 200k in gold and silver and hope that it will go up, not down and then buy a house? I already bought houses, I don't need to wait for gold to go up. What about if it goes down? I'm screwed right? Let me tell u something. I invested money in Eastern europe back when a home was 12000 dollars and the economy was PURE SHIT. Same properties went up six fold in s7 years, sold them and bought others. A house is a house!
sharkloaner 2 years ago
Lets just say in a fantacy land that
1. Interest rates go way up to 20%
2. Currency created of 1 trillion a month stops.
3. Any bank that can't cut it gets no money and goes bankrupt does not pay over the FDIC limit for depositors.
The above situation would have to occur, with that china would continue buy US debt and hold dollars instead of buy everything physical it can get is hands on.
If all that happened.
You still would able to buy the same shit or more.
I knew you wouldn't listen.
davincij15 2 years ago
Look there is no changing your mind so lets have some fun lets put imagine we put 200k on home today and 200k in gold today. Lets see how things turn out.
I will do a video on it. :)
Then we will see who was right one year today and 2 years today and 3 years today and 4 years today.
davincij15 2 years ago
AGREED!
sharkloaner 2 years ago
I have not forgotten I am busy and I want to do it right.
davincij15 2 years ago
I just pulled out mu gold and silver coins !
sharkloaner 2 years ago
Gold and silver is small anonymous wealth that cant be outlawed as it would only increase its value. Check out when the outlawed drugs prices went up.
Gold and silver maintains its value if you have split it into smaller amounts.
Gold and silver cannot be counterfeited
Gold and silver has been money for 6000 years and still is today (forex the currency exchange system only as gold and silver as the only commodities.)
Gold and silver is small portable wealth that does not depreciate.
davincij15 2 years ago
So why would I crap my pants thinking that they could rob me by depressing gold prices when I can sit comfortably and make some rent money. There will always be renters as more and more people cannot afford their 1500 $ mortgages but can afford my 500$ rent.I bought this second house with 100 K. Had I bought gold, can you guarantee that I could buy a house selling that gold 5 years from now? I have a little gold and silver but in my opinion nothing is better than a FUCKING HOUSE! I
sharkloaner 2 years ago
Here's the other side of the story. I own my home free and clear (not a big home) andno matter if the "value" goes up or down , to me it's worth a million bucks because it keeps me warm and dry. Recently I bought another place and I had the choice of buying gold and silver; I rented the place out, use the money to buy food. Had I bought gold I would be scared shitless that "I might lose" when IF IF IF they decide to drop gold prices. Every commodity price is controlled by the elites.
sharkloaner 2 years ago
Allow me to tell you that you are right and wrond at the same time. In america buying a house meant getting in a huge debt with little money . If the house value drops from 300k to 150k you still owe 300 k. The retatrded americans broke -ass uneducated hillbillies wanted to show off so they bought a house that they could barely afford instead of buying a smaller home or an apt. They drove prices up, because they paid whatever it was asked, through credit, for a house.They were fooled to pay more
sharkloaner 2 years ago
Now, he knows exactly what he's talking about!! Listen to people that makes sense and have solutions, not people just trying to take your money!!
curious220 2 years ago
Gold and silver is just as manipulated as the stock market or home prices. Don't be left holding the bag when it goes to crap.
DebtIsMoney 2 years ago
with increase in population real estate will go up again. Maybe not tomorrow but in a couple years.
acidwarp514 3 years ago
Yeah, you're right!! Real Estate will go back up with everything else: your products, supplies, all your essentials will sky rocket!! And yes you may gain a little equity on your home but, you still going to have to borrow more just to put food on the table soon, its not going to be a easy ride at all...!!
curious220 2 years ago
Thank you davincij15 for you time and energy. I agree with you on everything.
jaingxu 3 years ago
you pretty much got the point The State is a problem not a solution the bureaucrats are your enemies not your servants , taxes are money that the state steals from you in order to pay his battalions of useless bureaucrats in order to maintain control over you and over the territory , you do not own your house even if you think so it is leased to you by the State , please try to wake up those sleepy Canadians I have never seen a people so bowing to the state as those mother fucking canucks
MossadAgentWatching 3 years ago 2
lol gee thanks man! :p
Great video, thank you for posting! Post more!
drutter 3 years ago
are you in Canada or in the US , pancake ??did you figure out that this rush for gold and silver is just another rip off ..what is Gold anyways it is just a shine non corrosive metal easy to work that's all , you cannot eat gold but gold can get you killed , here a piece of advice for you pancake instead of gold go buy guns and ammo , they will save your life and with them you can take all the gold you want when chaos interrupts
MossadAgentWatching 3 years ago
Greenspan - "[gold] protects savings from confiscation though inflation"
Voltaire - "Paper money always seeks its intrinsic value - zero."
davincij15 3 years ago
Why do you accept dollars? You can't eat it and if you have $1000 and someone bad knows about it you can get killed.
Gold is money!
Gold stores wealth no other element stores wealth so that you can buy the same BASIC necessities at all times for the same amount of gold.
Dollars lose value. Gold holds value, it will not make you rich unless people go crazy for it.
davincij15 3 years ago
do not believe what all those wall street crooks tell you , they are the source of this world's problems , these people feed off the sweet and blood of the workers now they tell you go buy gold buy gold because they can see in the future , well if that was true they will just keep their secrets to themselves and become rich do not you think , these are professional deceivers , they want you to buy gold so that they can sell theirs when the prices reach the roof
MossadAgentWatching 3 years ago
Yes the capitalist game is corrupt to the core and brings only sorrow tears and blood to those who play it , but when you accept to be part of the game you become corrupt as well , it is not buying gold that will save the world ...it is radically changing the whole system , Peter Schiff and other professional deceivers are just selling you another lie , ask yourself where from these predators have earned their wealth ? it is all stolen by tricks from the working class through speculations
MossadAgentWatching 3 years ago
Once I see big names like Cramer or Kudlow tell me to buy gold I will be selling so fast it would not be funny.
So is capitalist to blame? Well first of it was government mixed in with capitalist to deregulate the wrong things that cause the problem.
Governments are instituted among men to serve the populations. The rich and powerful took full advantage of that and go you to think and believe the government was serving you all the while it was serving the wealthy.
davincij15 3 years ago
I am working class among you and I use to believe that government was the answer to my problems. I have woken up from that fantasy and to realize that government is the problem. And we have been duped into thinking otherwise.
Finally, no matter where gold goes in price up or down it will always provide you with wealth that to cover the basic necessities.
Paper money will not do that.
It is true gold can get over valued like a stock or a home but it's true value remains. Always!
davincij15 3 years ago
This was done with socks in the 80s and Tech stocks in the 2000 and houses after words. Each time what did you see on TV? People making it rich in each of those items and experts coming on telling you to buy, buy, buy.
Now what do you see on TV Experts coming on saying buy gold buy silver? Hell no the only ones telling you to buy gold is the are the same people you ignored when they told you not to buy a home or stock when the market was booming.
davincij15 3 years ago
Land will be king -- we may see a outflow of people from the cities to rural areas -- at least with land you can grow your own crops, cut down trees for firewood, hunt for game, water, etc. With solar and wind power you can be relatively self sufficient. Add land to your gold/silver portfolio.
wellingtonsc75 3 years ago
YOUR RIGHT
acidwarp514 3 years ago
its so easy if have some postive equity in your house buy silver and rent a small flat. If u have 50.000 in positive equity u can sell your silver at 1.000.000 Dollars. When u can buy a nice house thats really yours and for the rest american stocks that pays you dividends.
Mongodelight 3 years ago
Information I can use, explained in a way I can understand, thank you. I'm Canadian and can't walk away from my mortgage. I will now make only my regular mortgage payments and save my money for taxes and food. Out of fear I'm trying to make many lump sum extra payments and no longer have much savings, I'm Scared and trying to "pay this off" which I can't for many years to go. What I don't understand is where do people buy gold "coins"? My friends or family don't do this. Also, what about GICs?
77cor77 3 years ago
Dude after a year of taking to my wealthy friends they are now buying gold. It is serious now, if you have no gold or silver it does not matter what price you pay take 50% of your savings you have buy some.
Go to any of the major 5 banks in Canada ask to buy gold, the teller may not know about it so ask to speak to the manager. Royal Banks has the highest price and Scotia Bank has the lowest.
Go do it today.
davincij15 3 years ago
For most Americans the information you are telling everyone is some what too late, others will dismiss you and say your wrong ect. 1 thing that is true this crash is not by chance, the $ will crash as no fiat currency has ever survived. When the usa went off the gold standard like all paper currency it was the plan of the elite bankers to rob the people of there wealth for worthless paper which people except as real money. America is a consumer not a producer your country is broke prepare !!!
daveking777 3 years ago
The Man who will bring this in is Mr Obama, he can do no wrong... why because after bushes mess Americans needed a "change" the magic word of Obama campaign and people thats what you will get a BIG CHANGE !!! Obama was schooled by Zbigniew Brzezinski member of the trilateral commission and the CFR,not forgetting Obama mother was a member of the Ford foundation and World Bank. Im not going to go on with all the info i know it would take to long but the american people should look into Mr Obama
daveking777 3 years ago
yo you look like Mike TYson, well a bit
SpicyHam 3 years ago
Considering the way the government is going to bailout and stimulate, would it not be a good idea to be as leveraged as possible. Being in as much debt as possible would be beneficial if we run into a heavy inflation period or even hyper inflation.If you bought a million z dollar home in Zimbabwe 5 years ago, it would be easy to pay off considering school teachers make 3 trillion z dollars a month. Why not max out the CC and buy silver or tangibles. Is hyper inflation on the way, when?
jjrglobal 3 years ago
Love the advice man. I inherited my late mom's condo recently and I'm a big real estate guy. I'm going to pay the 78,000 mortgage with life insurance. I've got 33 oz of gold and I'm going to buy 1000oz of silver. I'd be loath to put all my eggs into the gold/silver basket. Plus it knocks 650 dollars a month off my expenses and the government will help themselves to 50% of what you make off you precious metals.
trevormac77 3 years ago
also I'm not looking at the value of my condo, right now it's valued at 250,000 but honestly I wouldn't care if it was worth 100,000 because I have to live somewhere and why not rent free.
trevormac77 3 years ago
You're a good man, DaVinci. YOU ROCK.
JRCrowley 3 years ago
My point is... if are an ordinary guy living on rent or making mortgage payment... you are better off owning gold stocks, commodity stocks, gold certificates etc... and only a small percentage of your savings in bullion or coins so that it is easier to carry around without attracting much attention...
me98321 3 years ago
Actually I would say it's the other way around have a few stocks in gold and most of your money in gold.
The only reason oil companies did not get a win fall tax is because they are connected. You can bet your top dollar a win fall tax is coming to gold stocks near you.
davincij15 3 years ago
The overseas expansion was not at the expense of the avg American. The Avg American is a dumbass who is hypnotized by corporate & the media to be in debt. You don't need me to tell you this --- You know this already. These folks in the U.S have to pay the price for borrowing all that wealth from Asia and they will - this is the only way to learn, sad to say.
I am at least glad that Amerians are getting their act together and not spending that much now. They really do need to get Silver ASAP!
vinny1010 3 years ago
Yes, the complain about the bonuses but not one of them are changing banks or understand the dollars have no value when it's printed to pay the employees millions who for destroying the company and the economy.
davincij15 3 years ago
Hey bud --
I REALLY think you need to make a vid about Gold/Silver confiscation -- Mate, it is NOT going to happen and you know this. A few reasons:
1. America will be the laughing stock of the entire world (as it isn't already lol)
2. Gold & Silver will spike like never before
3. Not that many people in America own physical Gold & Silver
4. The Dollar is not backed by Gold as it was in the Great Depression
...
Yes, there is a possibility...but the likelyhood? Unlikely in my view.
vinny1010 3 years ago
I agree.
davincij15 3 years ago
As the dollar crashes and it will, the obama bail out is just a prop up which wont work. The American people will rebel, some who are wealthy will have already moved abroad or have enough paper money to deal with hyper inflation that will come for a while, and when you are on your knees obama the puppet of the elite jewish bankers who funded his path to presidency will introduce the new currency the amero by then you will be part of the new North American union Canada,Mexico America as one.
daveking777 3 years ago
There will be a gap between the dollar crashing and the new currency to be introduced and for this you will need something of value to trade for food and services till it is introduced. they the elite would much prefer if the people would except this change of the dollar to amero with out all the objection it would get from the loyal American people then you would not see this economic crash we have now. But they need it to bring down the dollar.
daveking777 3 years ago
Are the 100oz silver bars worth getting?
formulaprimer 3 years ago
dude they are good
but also try to get smaller bars like 1kg, easier to move with
ramp31 3 years ago
Absolutely!
vinny1010 3 years ago
I have a more than a few of them.
davincij15 3 years ago
Try to see if you can get 1oz, 10oz & 100oz Silver. This way you diversify just in case (who knows what may happen). I have many 100oz and got rid of my bullshit 1000oz -- Luckily b/c Silver went up, I made a profit but now I'm using that same money to back in silver making sure it's not the 1000 oz ... man that was one heavy ass mother fucker to lift, LOL!
vinny1010 3 years ago
formulaprimer
Ya, I agree with ramp31. I chose the smaller bars and rounds rather than the big stuff. In gold I bought 1/10th ounce coins and in silver I bought only 1 ounce rounds and bars. In a collapse situation, if you need to barter with them, Having smaller denominations will give you a lot more flexibility.
vention4wh 3 years ago
Thanks for the link
prepare2008 3 years ago
Wise video, hard choice for those with mortgages but the right choice. Cut those losses and run with whats moving up.
prepare2008 3 years ago
silver did well today, i kinda think its the end of the low silver price, the time has come, pluss china stated yesterday there not gona take anymore usa t-bills, so guys the time is now if ever so buy buy buy,
keep up the good work davinchij
ramp31 3 years ago
I should have bought yesterday. Now hope we have a big pull back tomorrow so I can buy!!!
formulaprimer 3 years ago
No worries the charts show gold and silver are over bought and turning down. We should see at least a small pull back in the next few days.
davincij15 3 years ago
Are you posting a new video today?
formulaprimer 3 years ago
probably we will get a period which looks like deflation, but is not, it only looks like because a lot of people do not want to spend money. But all the money printing and stimulus packages will eventually give rise to inflation or hyperinflation. Then gold, and silver follows gold, will get very high values, because particularly gold is an inflation hedge.
dontblamethemessenge 3 years ago
If you can afford to pay all of your bills (including mortgage), have been purchasing PMs & still have a solid income (for now) wouldn't it be best just to keep on doing this formula? As you said when the price of PMs go crazy, you should sell them for a house. If you already have a house & the price of PMs go crazy, then you can sell them and pay off what you owe on your house without having to go through foreclosure/short-sale, relocation or taking a credit hit.
constant56 3 years ago
That is what I am saying but I am also saying pay your bills until you can not. If that happens do not surrender your gold and silver to pay your bills. Keep it like an insurance policy you can't sell.
davincij15 3 years ago
Thank you for the reply. Keep up the great vids. You are one of the people who influenced me to realize I was right to turn to PMs. Many thanks Davinci =)
constant56 3 years ago
Also if you have gold and silver stored at your rented apartment or house bought on mortgage... chances are that you will be evicted for not paying the million/billion dollar rent or mortgage... without guns you are sitting ducks for the looters... Physical gold and silver is better suited for folks who own their house and who have guns...
me98321 3 years ago
I know a few people who have worked all their lives and save money in the bank or stock market. Are you saying they should take out the meager 100k and buy guns only?
davincij15 3 years ago
of course not, they should buy bullets also. lots and lots of bullets. full metal jacket bullets, hollow point bullets, +P+ bullets, all the bullets in the world.
RetardedAdult 3 years ago 2
FYI: The world is not ending we are not going to mad max life style.
davincij15 3 years ago
If hyperinflation happens in US, force majeure and martial law will be declared as wide spread rioting will happen...law & order will collapse... People who own their own house and have their guns, gold and food will survive... If you live on rent, you will have to hit the streets and if you have gold and silver with you and no guns... you will the sitting ducks for looters and rioters...
me98321 3 years ago
chena3 3 years ago
get up now
918.90
moving quick ..
chena3 3 years ago
get up ...
916.
chena3 3 years ago
get up boys
gold is rocking 914.
up 12 $ in an hour
13 minutes till comex opens
silver 12.55..
going long ....
woof...
chena3 3 years ago
Myth or not? It gives a picture of how real assets value holds during inflationary periods and how it retains and increases its purchasing power.
formulaprimer 3 years ago
Being indoctrinated in the government public schools denied many of us the ability to count. A morgage is very bad business transaction from the start. After a 30 year morgage you pay for the house and buy the bank another 2. Do the math.
All should inquire into what the down payment for for a mortgage alone can yield you in the purchase of land acerage. Buy land and improve it that's where value is. Build your own home. Also study allodial title and land patents and ownership through a trust.
spectator2009 3 years ago
Your words are wise.
DoctorsWife56 3 years ago
Thomas J's actual comment run like this :
"I sincerely believe ... that banking establishments are more dangerous than standing armies, and that the principle of spending money to be paid by posterity, under the name of funding, is but swindling futurity on a large scale."
me98321 3 years ago
Comment removed
me98321 3 years ago
Most people think the economic trouble will unfold into 2 waves. First (now) is a deflationary time - paper money gets harder to come by. Second soon after is hyperinflation as excessive money printing kills the dollar. If this unfolds, the best strategy is to have a large mortgage and enough cash to pay for a year or so - cash to carry you through the 1st wave. Put your remaining assets in silver and gold. After hyperinflation makes your mortgage trivial, sell one coin and pay it in full!
partner55916351 3 years ago
If hyperinflation happens, your mortgage rate will also hit million or billion percent... One coin will not pay it in full... All debt has a force majeure clause which allows the lender to change the original terms of agreement... If hyperinflation happens stay with a friend or family who own their house... Whose mortgage is paid in full... They will be the only ones who can will have a roof over their heads...
me98321 3 years ago
Davincji, I know you live in Canada, but damn your a Great American!
Keep up the good job, buddy.
shouldlistentoronpau 3 years ago 2
Thanks always wanted to move to America when I believed you followed the constitution.
davincij15 3 years ago
I'm going to buy some more silver and gold before this Friday. Already converted 20% of my assets to silver and other commodities. Trying to open a swiss bank account to transfer money over while the dollar has value.
formulaprimer 3 years ago
Loadial Title
Manufacturers Statement of Origin
+14th ammendment=
trading with the enemy
YOU CANT LEGALLY SETTLE A CONTRACT, only discharge
therefore "citizens" dont own anything
flippinrawks 3 years ago
real estate taxes are too high, aren't they? We are screwed unless Congress does something to return us to Jacksonian/jeffersonian thinking-which will never happen, I am afraid.
batgirl791 3 years ago
Man, that is exactly how i feel about the fiat money system. it is a con game that started when they got rid of gold backed currency. I pray that the public will finaly 'get it' and understand what the banksters have been doing by inflating and deflating the money supply. Bastards, hope they burn in hell.
alpertdon 3 years ago
Thomas Jefferson saw the potential for abuse by the banks and wanted to prevent it through his words of wisdom, but through the years people have been brainwashed to believe a home was always your best investment and a good place to spend your money ( aka the money pit)
fgiugliymop 3 years ago
chena3 3 years ago
Anybody buying silver at these prices or waiting for price drop?
formulaprimer 3 years ago
Buying all the time, just swapping the paper out as it comes in.
Silver is a good buy IMHO.
SlyToocan 3 years ago
I purchased some from Apmex on yesterday's low. (10 oz sunshine bars and Gold American Eagles). They were running a deal at $.50 off of the premium. Even if these prices drop, I believe we will see higher prices in the long term and I really like those $.50 discount deals. Wish they would offer a $1.50 discount deal!
BeenInACaveWayToLong 3 years ago
When ever there is a great economic collapse those who hold real assets such as gold and silver and commodities always are the ones to prosper. There are hundreds of similar examples like the one I stated earlier.
formulaprimer 3 years ago
Hyper inflation hits the US we will be able to pay off all our large debt with very little gold and silver. While everyone is still trying to pay off with paper money which has devalued. Just a little example of the inflation security of gold and silver. There is a story of a man who was the door man of a hotel and held 10 to 20 oz of gold as his total savings and when German currencies collapsed and hyper inflation hit he bought the hotel with the gold. His name was Hilton.
formulaprimer 3 years ago
Snap! is that a true story? If so that is what I am talking about!
davincij15 3 years ago
I think that story re: Hilton is a myth - nice tale however.
Hilton was from Norway and made it to the States - there Conrad Hilton made his fortune - almost lost it all during the great Depression.
dojufitz 3 years ago
Unless you can pay off your home completely and guarantee it will appreciate in value greater than inflation and devaluation of dollar purchasing power and the opportunity cost of making more money else where rather than paying 30 years of debt mortgage which the banks own buying a home using mortgage is an illusion of debt = money.
formulaprimer 3 years ago
davince:
Thank you for acknowledging what the corporations did to us
tinafiedler1 3 years ago
It will be very hard to the people of the US and Canada thi economical meltdown, He in Mexico my generation knows about economical crisis and low pay jobs, but we keep on going, we are humans adaptable and figthers. Silver is god's money, material things are god's thing. buy silver and take care of becoming dessarter.
keep doing these videos man, greetings from juarez, mexico
c12mex 3 years ago
Davinci,
Bravo!.............Bravo!!!
Jimenian
Jimenian 3 years ago
Bought another 1000 oz of silver in varying oz. Will trade all the silver in for gold when the ratio gets around 15 to 1. We will see stagflation and/or deflation after the inflation to come. I hope hyper inflation doesn't come because there is no way to predict how the government and the private bank called the Federal Reserve will do.
formulaprimer 3 years ago
US dollar has has depreciated 96% of its value since 1913. Gold and Silver has been considered real money for over 5000 years and retained all its value with inflationary pressure. Purchasing power is the key. All other arguments is just the conversing of the uninformed about the fractional fiat monetary system.
formulaprimer 3 years ago
Davinci I don't get your reference to Slumdog Billionaire. I'd never heard of it so I acquired a copy and just finished watching it. Very moving film, but why begrudge India's recent (relative) prosperity? It's not a zero sum game, true wealth, I mean.
If the government would simply get out of the way, we'll all do fine over in the New World. Until then...be on strike!
dashxdr 3 years ago
...Make that Slumdog Millionaire...
dashxdr 3 years ago
You were right the first time, factoring in the coming hyper-inflation... ;-)
sizzlot 2 years ago
All in USA should default on mortgages & buy gold/silver. Let them try to evict even 30% ppl if they default. The time is NOW to hit the streets in protest.. We must actually stimulate US for the ppl
potterword 3 years ago
Stimulus by the government is debt because debt = money in our fiat monetary system.
formulaprimer 3 years ago
What if u have already finished paying your mortage and own the whole house 100%? Should u sell it and buy gold and silver and rent for next 5 years? Or borrow against the house and buy gold and silver?
Brainman94 3 years ago
What I would do is borrow what I can carry as monthly payments, and buy only gold (gold is less volatile) and once it doubled I would sell half my gold and pay off the debt and keep the rest and thank the bank.
:)
lol
I have read so many stories of people doing this in early 2005 only to be ridiculed and laughed at, today they are laugh at the bank.
davincij15 3 years ago
Thanks. But why does volatility matter if you keep it a few years? I thought silver will show greater gains over that time?
Brainman94 3 years ago
Just confirmed purchasing more silver & gold using APMEX sweetheart deal near today's low... 10 oz sunshine bars and Gold American Eagles.
BeenInACaveWayToLong 3 years ago
Thank you for the passionate advice. Don't think I'll pay off my house now. I'm not in a position to sell either. Purchased the house in 2001 for $215 K. Refinanced at the top of the bubble at 5.5% - 15 year fixed. It was valued at $320 K at the top. I still owe $155 K and it's probably going down in value faster than my payments, but I'm not in a position to sell yet. Neighbors house was just listed at $279K. Dropping like a rock! But, I don't think I'll double up on payments anymore.
BeenInACaveWayToLong 3 years ago
We all know SOMETHING is coming and that the worst may be yet to come
If youre wondering how to PREPARE FOR it and GAIN FROM it check out:
3w. prepareforandgainfrom {dot} [com]
PFandGF 3 years ago
I will begin to train my replacements who are in INDIA. bastards!
Zwikster 3 years ago
Finally someone is talking sense! 11 years ago I looked around at everyone as they frantically bought houses that were twice what they needed. Even single guys like me were buying houses (DUH!). I've always considered a house as a tool that is designed to keep the rain and wind out while you sleep. For that reason I moved out of my apartment and into the condo I"m in now. I ended up paying about 80 bucks a month less and got an extra bedroom and an extra 3/4 bathroom as a bonus.
vention4wh 3 years ago
2. Oh, and did I mention that my house is bicycle distance from work? I always tell everyone at work that I live a half hour from work then I throw in "on my bicycle!". I'd like a bigger garden than my deck garden but I'm not paying an extra 200 thousand dollars just to grow some broccoli! I can buy a lot of vegies for 200 grand!
vention4wh 3 years ago
Which comedian said, "If a man could fuck in a cardboard box, he'd never buy a house"...?
sizzlot 2 years ago
Sounds like something Chris Rock would say.
a012345 2 years ago
you are 100% RIGHT. housing is a liability; and is owned by the state government, through property taxes - even if you pay off the mortgage! not to mentioned HOA fees, insurance, etc. housing is a loser; its the big lie. i have already defaulted because im upside down; housing cannot come back with unemployment etc where its at. you pay 2x as much to own, and without annual equity appreciation expectation, you are THROWING MONEY AWAY. No appreciation expected now;
homeowners losing mon
ey.
psbyowner 3 years ago
not to mention the network of leeches (like 6% commissions on transactions, title, etc) that exist solely on YOUR immovable asset: your home. Thats why id also advocate gold and silver; because it is a TRUE asset; there is no debt attatched to it, and no taxes if you pass it to your heirs (unlike property).
psbyowner 3 years ago
You do know you paid taxes when you buy and resell gold right? If you make money on the gold, you would have to count it as income that is taxable unless you like to have a date with an IRS auditor.
a012345 3 years ago
Gold and Silver eagles are not reported not matter how much you buy. They are the only exception to the rule and it was intentionally set up by the government.
formulaprimer 3 years ago
Try buying some and not pay sales taxes except through internet. Try selling a decent amount of it through any dealer and try and pay no taxes on it. You pay taxes one way or another. Even if you figure out a way illegally, when you purchase anything again, you get taxed again on sales tax.
a012345 3 years ago
Delaware has no sales tax on anything. Maryland has no sales tax on PMs as long as the purchase is over $1,000.
sizzlot 2 years ago
No sales tax in those states but you will get taxed on income tax when you sell your gold at a profit. You can't escape taxation...which is the point.
a012345 2 years ago
morality is used against us; the real terrorists are the international bankers.
psbyowner 3 years ago 2
You got it Pontiac! That is the real problem morality is used against us.
However I am not advocating that you not pay your debts as agreed. I am saying use it to your advantage.
And all though I did say hand back the keys and keep the gold, this is a part of the contract agreement. They can't come after you for the money lost on the home.
davincij15 3 years ago
DJ! You nailed it! Your possesions DO NOT define who you are. If people would get just that one fact we would have a cultural revolution and people would be FREE from this materialistic, self-imposed Hell.
TadRapidly 3 years ago
It is the stuff that ultimately enslaves us not the money.
davincij15 3 years ago
That's damn right. I SAVE my money (buying the precious too). And you know what? When I NEED something or WANT something that will add real meaning to my life I CAN AFFORD IT because I'm not buying useless crap! Keep it coming, DJ!
TadRapidly 3 years ago 2
India doesn't ALLOW corporations (so to speak)! THAT'S why their going to continue to kick ass. Wal-Mart wanted in and they said NO.
TadRapidly 3 years ago
You need to spend more time studying silver you will see it has a bigger upside potential.
davincij15 3 years ago
Silver collapsed in the 80s from over speculation as well. If industrial needs lowers, so does demand for silver. He is right about silver to a point.
a012345 3 years ago
Good vid - the great money scam (fed reserve / "inflation") is finally being revealed to the masses.
God bless the internet and sites like Youtube.
People, we have the power and access to knowledge and information today like no other time before - use it wisely...and SPREAD the message PLEASE.
First step - go to "Google Video" and type "Federal Reserve Documentary" - there are many to choose from there...this is where your journey begins.
Stay up,
Awhodatt
awhodatt 3 years ago
I wish you would do more vids. Good news. I bought a modest house in a small town. It can decline to zer0- and will still be cheaper then rent. I cant rent a couch to crash on for my payment. (fixed 30 yr) 5.5%. A house is only as good as the neighborhood. ie- thrifty town- better chance of sound finances for me.
turboredcart 3 years ago
Great Video!!!!!.. Always enjoy listening to you!
gete0 3 years ago
If you own your house outright, I don't think it would be a good idea to mortgage it to buy gold and silver. Why, because if you lose your job and can't pay the bank back, you will have to sell your gold and silver to pay the bank. Will gold and silver be worth more when that happens, maybe, maybe not. I'm not willing to take that chance.
donharlan1 3 years ago
Your choice, however keep in mind that value is being drained out of your home and into the pockets of the wealthy.
If you lose you job and can't pay the property taxes you lose your home.
True anything can happen so you have to make the best decision based on what you know.
I know this
"Gold is money and nothing else." - JP Morgan
"[gold] protects savings from confiscation though inflation" - Greenspan
"Paper money always seeks its intrinsic value - zero." - Voltaire
davincij15 3 years ago
You lose your job, you can't pay rent either. You'll be out on your ass either way.
Love how you quote people which made fiat currency and the monetary system worked in their favor because they understand the system. They never advocated gold like you're peddling it.
a012345 3 years ago
BT