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Old 09-21-2010, 01:49 PM
 
Location: In The Outland
6,023 posts, read 11,877,890 times
Reputation: 3535

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Old 09-21-2010, 07:47 PM
 
Location: Spots Wyoming
18,696 posts, read 36,381,069 times
Reputation: 2147483647
This guy has seen THREE century's on the calendar.

http://www.msnbc.msn.com/id/39293273...onderful_world
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Old 09-21-2010, 08:24 PM
 
Location: Brendansport, Sagitta IV
7,540 posts, read 12,578,132 times
Reputation: 2952
Geez, I know people 50 years younger who don't look half as good!

On the other hand there are a lot of 150 year old folks in Japan... except it turns out not quite: Over 200,000 dead folks, all purportedly over 100 years old, magically came up "missing" when the retirement payouts were audited!! Seems their families had been collecting on them long after they were gone.
 
Old 09-21-2010, 08:41 PM
 
Location: Spots Wyoming
18,696 posts, read 36,381,069 times
Reputation: 2147483647
Quote:
Originally Posted by Reziac View Post
Geez, I know people 50 years younger who don't look half as good!

On the other hand there are a lot of 150 year old folks in Japan... except it turns out not quite: Over 200,000 dead folks, all purportedly over 100 years old, magically came up "missing" when the retirement payouts were audited!! Seems their families had been collecting on them long after they were gone.
This guy is apparently trying to get back all he paid in.
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Old 09-21-2010, 08:44 PM
 
9,341 posts, read 25,432,475 times
Reputation: 4477
Quote:
Originally Posted by Reziac View Post
Geez, I know people 50 years younger who don't look half as good!
Walter smoked cigars daily for almost 97-years, ate railroad food all of his life, and worked for over 50-years around dirty coal fired steam locomotives. None of that would be politically correct today, huh?
 
Old 09-21-2010, 08:46 PM
 
9,341 posts, read 25,432,475 times
Reputation: 4477
If he was born on Sept. 21, 1896, then Walter Breuning was not 21 until Sept. 21, 1917 and could not have legally voted for Woodrow Wilson in 1916, as he claims to have done, when Wilson was elected to his second term that began on March 21, 1917.

Breuning has often mentioned that he had lied about his age when he started working for the Great Northern Railroad in around 1912. He told them that he was 18 to get a job as they were not allowed to hire anyone under that age and it would appear that he then had to keep that lie going through the 1916 presidential election.
 
Old 09-21-2010, 10:18 PM
 
Location: Lost in Montana *recalculating*...
11,841 posts, read 15,452,759 times
Reputation: 12109
Hmm. I wonder if he worked on the ACORN line?
 
Old 09-21-2010, 10:32 PM
 
Location: Lost in Montana *recalculating*...
11,841 posts, read 15,452,759 times
Reputation: 12109
Quote:
Originally Posted by Walter Greenspan View Post
Threerun, you may want to wait for gold to top $3,000 a troy ounce before looking for a bubble, just saying.
I remember having a heated discussion with a guy in the 90's who worked in programming for a local tech company, and how the new economy was being born- NASDAQ was the proof. I argued the fundamentals were all screwed- there was no substance behind the rise in values.. *POOF*

I recall 2005 being my WORST ever year in commercial lending. I remember my peers doing flips, r/e development deals, highly leveraged comm mortgage deals based on the premise the market had no where to go but up-up-up.. My Pres. told me he was compelled to give me a substandard review because I was lagging my peers in lending.. My argument was, again, the fundamentals are not right. Per capita wages were insufficient to justify the price points, wages were not rising in lock step, market values on r/e far exceeded build costs.. *POOF*

So gold is skyrocketing (fears of deficit induced inflation?), but the numbers are contrary to the fears. We've had deficits / spending at this pace before- WWII levels exceeded this current pace. I don't like it but I don't think it justifies the gold rush.

Maybe I'm wrong, and frankly I don't mind if I am, cause 2 out of 3 ain't bad. Just sayin'...
 
Old 09-22-2010, 07:54 AM
 
Location: Where the mountains touch the sky
4,891 posts, read 5,771,999 times
Reputation: 8269
Metals markets are different than most get rich quick investments like the dot.coms and the real estate bubble, or even the oil boom of last year.

Metals are hard assets.They are always worth something. Gold, Silver, Platinum are a fall back investment that normally skyrockets when there is fear of loosing other assets. Investment wise, they are considered more "safe" because the metal is always worth something.

When the economy is as bad as this, metals are bought and the price goes up. When I started buying silver in the late "80s, it was $5.00 an ounce. The Hunt Brothers had tried to corner the market and had driven the price artifically high, and then lost it. I started buying when the price bottomed.

In the late '70s under Carter, the economy was about as bad as todays. Gold shot up from $180 to nearly $1000 an ounce. When Reagan was elected and the economy improved, the bottom fell out and gold went back to around $300 - $350 an ounce.

If the economy turns around, there will be a lot of people dumping the $2000 dollar gold they bought on the market to get cash for other investments, and the price will drop again. Some will loose their shirts as always.

Part of what is holding the price so high right now is that folks are buying gold and silver because once they have it, it is in their home or safety deposit box, and you don't pay tax on it until you sell and declare the income. It is a way to hide your money safely.
It is a way to protect assets from confiscitory taxes.

There are also others that buy it in fear of an economic collapse. If the paper money is worthless, a gold or silver coin is still valuable to trade for food or medical help.

The Metals market is very different from the commodities or stock market or even real estate investments. It is driven by other factors. For one thing, it is portable. You can carry it in your pocket unlike real estate. It has it's own value unlike a stock certificate, and there are not a lot of records about it's movement between private buyers.
Usually, when the economy goes up, the metals market goes down, and when the economy goes down, the metals go up. The exact opposite of most markets. Speculators are also driving part of the rise now as it is the only market that is showing real growth. However, if there is a change in the economy, there will be a correction just as there was in the housing boom or the dot.com market.

In the 1800s there would be rushes on metals as the monitary system was based on hard currency and the government had to have the gold/silver reserves to back the money they printed. There was a Boom and Bust cycle that happened about every 10-15 years. Roosevelt made private ownership of gold illegal in the 30s to try and control the markets, and onstensibly to stop the boom/bust cycle.
Since Nixon took the nation off the gold standard in the 1970s, the money has no backing from hard assets and are only backed by the credit of the nation issuing the script. This took the govermment from limiting the amount of money they printed, to the run away "print money cause we want to spend it" mentality we have now. The safetys are off.

Depending on the elections this fall, (JMHO), if the democrats hold control, the metals will go up, but if the republicans take the house and or senate, I would look for the market to stabilize, but not drop until there is a new president.

However, as Montana HAS gold in the ground, and the only Platinum/Paladium mine in North America, the boom in Metals means jobs here IF we can get past the eco-wackos so we can mine it.

Just my 2 cents. About all I can afford these days
 
Old 09-22-2010, 08:08 AM
 
9,341 posts, read 25,432,475 times
Reputation: 4477
Default Monthly High, Low, Closing Price, U.S.-$ Index

Quote:
Originally Posted by MTSilvertip View Post
Since Nixon took the nation off the gold standard in the 1970s, the money has no backing from hard assets and are only backed by the credit of the nation issuing the script. This took the govermment from limiting the amount of money they printed, to the run away "print money cause we want to spend it" mentality we have now. The safetys are off.

Monthly High, Low, Closing Price, U.S.-$ Index
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