Econ bank of japan to have negative interest rate

[dial1911]

I don't know crap about economics- I'll definitely concede that... but if the bank decides to start charging me to keep my money in a savings account, that account is getting liquidated and either going into a safety deposit box or it's going to sit between a rife and a case of ammo. Or maybe the mattress like Granny has suggested for all these years.

Point being, if it costs me money to keep it in an account, I'll be damned if it's going to sit in that account- it's going to turn into cash. And likely get diversified into copper and brass. So in my thoughts, this puts lots more cash on the street so to speak- not the other way around.

 

[dial1911]

Aaaaaaaaand... it looks like the Japanese are doing things the same way I would:

http://fortune.com/2016/02/23/japans-negative-interest-rate-driving-up-safe-sales/

Although I'm more in favor of a safety deposit box. Or paying Vinny to hold onto this 'box' for me at his 'restaurant'... probably as safe there as it would be a the bank.

 

[Thenut]

Aaaaaaaaand... it looks like the Japanese are doing things the same way I would:

http://fortune.com/2016/02/23/japans-negative-interest-rate-driving-up-safe-sales/

Although I'm more in favor of a safety deposit box. Or paying Vinny to hold onto this 'box' for me at his 'restaurant'... probably as safe there as it would be a the bank.

fuck banks lol

safety deposit boxes are not that safe. my grandma had one at a local bank in augusta for years. it got bought out by some other group and they changed the rental rates or something on the boxes. they sent us "letters" (which we never got) and since we didnt respond the mother fuckers busted it open and moved the contents. they were about to sell it off or give it away (heck they might have stolen something for all i know) but it was by a bit of luck that my mom happened to call them when dealing with my grandmothers estate that we found out about it

we were not happy, but tha bank basiaclly said "well, we aint really sorry, we did all we could and here is your stuff back so fuck off".

you cannot trust banks anymore than you can trust your own government (and its paper money)

 

[dial1911]

fuck banks lol

safety deposit boxes are not that safe. my grandma had one at a local bank in augusta for years. it got bought out by some other group and they changed the rental rates or something on the boxes. they sent us "letters" (which we never got) and since we didnt respond the mother fuckers busted it open and moved the contents. they were about to sell it off or give it away (heck they might have stolen something for all i know) but it was by a bit of luck that my mom happened to call them when dealing with my grandmothers estate that we found out about it

we were not happy, but tha bank basiaclly said "well, we aint really sorry, we did all we could and here is your stuff back so fuck off".

you cannot trust banks anymore than you can trust your own government (and its paper money)

Damn... Vinny it is then.

 

[Thenut]

Damn... Vinny it is then.

at least vinny has realistic control devices for his lending practices

"pay up or ill break your legs"

 

[erkinator 2]

doesnt work like that

these are not negative interest rates on loans, simply stored money (savings and checking accounts)

sigh, back to putting it under the mattress.

 

[Leshaire]

I don't know crap about economics- I'll definitely concede that... but if the bank decides to start charging me to keep my money in a savings account, that account is getting liquidated and either going into a safety deposit box or it's going to sit between a rife and a case of ammo. Or maybe the mattress like Granny has suggested for all these years.

Point being, if it costs me money to keep it in an account, I'll be damned if it's going to sit in that account- it's going to turn into cash. And likely get diversified into copper and brass. So in my thoughts, this puts lots more cash on the street so to speak- not the other way around.

this isnt practical

youll lose more from depreciation

 

[Leshaire]

sigh, back to putting it under the mattress.

there a are million better options than this. youll loose more over time (hell not much time) under the mattress than just paying the tax lol


just invest it, which you should be doing anyways if you have enough cash that the tax concerns you

 

[dial1911]

this isnt practical

youll lose more from depreciation

I get that- my invested money wasn't an issue- it's the savings account for having cash on hand. Currently it generates about $100 per year, so it's not really doing much at all in the savings account with no negative interest.

 

[erkinator 2]

there a are million better options than this. youll loose more over time (hell not much time) under the mattress than just paying the tax lol


just invest it, which you should be doing anyways if you have enough cash that the tax concerns you

Been investing like everyone else, then I watch every 7 years get sucked dry and start all over.

 

[Leshaire]

I get that- my invested money wasn't an issue- it's the savings account for having cash on hand. Currently it generates about $100 per year, so it's not really doing much at all in the savings account with no negative interest.

there are other options to keep it fairly liquid without having it so liquid that they can charge you the neg interest. or you could pay the 100 per year to maintain it in savings if its worth it to have it as liquid as possible

($100 assuming the neg interest would be as ridiculously minuscule as the positive interest on savings is now)

 

[Leshaire]

Been investing like everyone else, then I watch every 7 years get sucked dry and start all over.

word.

im in the same boat currently watching the last few years of solid gains slowly ride out of my ira and 401k

 

[Thenut]

there a are million better options than this. youll loose more over time (hell not much time) under the mattress than just paying the tax lol


just invest it, which you should be doing anyways if you have enough cash that the tax concerns you

this

choose wisely your investment vehicles

i opted to be hood rich and invested in physical commodity mostly (silver, guns, bullets, tools) and i do have a few stocks and a mutual fund

 

[Leshaire]

this

choose wisely your investment vehicles

i opted to be hood rich and invested in physical commodity mostly (silver, guns, bullets, tools) and i do have a few stocks and a mutual fund

word. hood rich is cool lol. I never got into "precious" metals but been interested in the past. guns and bullets are probably no anomaly around here.

 

[Thenut]

word. hood rich is cool lol. I never got into "precious" metals but been interested in the past. guns and bullets are probably no anomaly around here.

now is a great time to start.

i suggest to start putting a small % of your income aside and then when it reaches 100 bucks or more place an order for silver

by the end of the year you will have some pile of shit

 

[Leshaire]

now is a great time to start.

i suggest to start putting a small % of your income aside and then when it reaches 100 bucks or more place an order for silver

by the end of the year you will have some pile of shit

That's kinda the thing for me though. I don't know enough or care to know about them because to me they're not precious. They also gain slower than most markets. I prefer the risk while I'm young.

I was looking in the past because I was genuinely curious about investing in something tangible I could physically own and store on my property versus the virtual shit that could theoretically take a dump one day leaving my "retirement" worth nada...

Shit now that I'm typing it back out it does sound like a good idea lol. Imma start reading again. Where do you buy from


Sent from your moms couch using her iPhone

 

[Thenut]

That's kinda the thing for me though. I don't know enough or care to know about them because to me they're not precious. They also gain slower than most markets. I prefer the risk while I'm young.

I was looking in the past because I was genuinely curious about investing in something tangible I could physically own and store on my property versus the virtual shit that could theoretically take a dump one day leaving my "retirement" worth nada...

Shit now that I'm typing it back out it does sound like a good idea lol. Imma start reading again. Where do you buy from


Sent from your moms couch using her iPhone

do not think of yourself as an investor, i dont. i stack silver (there is a difference)

the idea is that silver/gold is less of an investment and more is the idea of money

dollar bills are simply currency. silver is money (it has intrinsic value). its relative value will ebb and flow with the markets, but it will always have value.

if you buy, buy to hold and dont sell. i set myself two limits; my buy limit (20 dollars) and my sell limit (35). i will buy silver so long as it is under 20 dollars (this includes premium). i will only sell silver if it gets above 35 an ounce (it likely wont for quite a while). the price is determined by the bid and ask price across exchanges, particularly among the new york and london exchange. DO NOT CONCERN YOURSELF WITH PREDICTING. that shit is hard lol. the spot price is the melt price essentially. then the sellers will tack on a premium (usually 50 cents to 2 bucks an ounce depending on what you get)

the cheapest silver is private mint bullion.

i need to do a sticky on metal trading for beginners really.

if i were you i would start with this

http://www.providentmetals.com/provident-metals-prospector-1-oz-silver-round.html

you can trust that website and jmbullion for sure. the way you order is you create an account, lock in the order, chose paper check/money order (if you use paypal or a credit card you will have to pay more), send the check in via US mail, and in 3 weeks you will have your silver delivered.

PM me a question or check the silver thread on here and on the ODT for more infor

 

[Leshaire]

do not think of yourself as an investor, i dont. i stack silver (there is a difference)

the idea is that silver/gold is less of an investment and more is the idea of money

dollar bills are simply currency. silver is money (it has intrinsic value). its relative value will ebb and flow with the markets, but it will always have value.

if you buy, buy to hold and dont sell. i set myself two limits; my buy limit (20 dollars) and my sell limit (35). i will buy silver so long as it is under 20 dollars (this includes premium). i will only sell silver if it gets above 35 an ounce (it likely wont for quite a while). the price is determined by the bid and ask price across exchanges, particularly among the new york and london exchange. DO NOT CONCERN YOURSELF WITH PREDICTING. that shit is hard lol. the spot price is the melt price essentially. then the sellers will tack on a premium (usually 50 cents to 2 bucks an ounce depending on what you get)

the cheapest silver is private mint bullion.

i need to do a sticky on metal trading for beginners really.

if i were you i would start with this

http://www.providentmetals.com/provident-metals-prospector-1-oz-silver-round.html

you can trust that website and jmbullion for sure. the way you order is you create an account, lock in the order, chose paper check/money order (if you use paypal or a credit card you will have to pay more), send the check in via US mail, and in 3 weeks you will have your silver delivered.

PM me a question or check the silver thread on here and on the ODT for more infor

its hard for me to think of myself as anything but an investor but i get it.

this wouldnt be something id be trying to flip for profit honestly. I do that enough in the stock market. Metals to me would be more of something tangible to stack at the house and hold on to.

do the sticky!!

ill be continuing to read and check out the sites you referred, thanks for that.

 

[Thenut]

its hard for me to think of myself as anything but an investor but i get it.

this wouldnt be something id be trying to flip for profit honestly. I do that enough in the stock market. Metals to me would be more of something tangible to stack at the house and hold on to.

do the sticky!!

ill be continuing to read and check out the sites you referred, thanks for that.

excellent. ive been wanting to create my guide to metals for a bit now......i think its time

i will be sure to share