How To Invest $12,000?

Off Topic
41

[quote]tedro wrote:

[quote]John S. wrote:
And not only that but the constitution requires Gold or silver as legal tender.

Article I, Section 8, Clause 5: The Congress shall have Power To coin Money, regulate the Value thereof, and of foreign Coin, and fix the Standard of Weights and Measures.

Article I, Section 10, Clause 1: No State shall coin Money; emit Bills of Credit; make any Thing but gold and silver Coin a Tender in Payment of Debt.
[/quote]

So, where exactly does the constitution require gold and silver as legal tender? The above is the only mention of gold or silver, and all it does it limit the rights of the states to create their own legal tender. It does not limit the states to using other forms of legal (as defined in section 8) tender, it only limits them to only making legal tender of gold or silver. It also doesn’t require them to make any legal tender at all. The federal government has every right to create its own legal tender that is not gold or silver.

And please, spare me the Ron Paul talking points.[/quote]

Legal tender is money, the states choose what they want to use Gold or Silver. Then the Federal government coins the money. It is the separation of powers.

Read up on the Continental, you will find out why they made the system this way.

42

Some people really are fuckin dense aren’t they.

Solid advice has been given.

Ignore gold.

Pay off all debts.
Put cash away for a 6 month emergency fund. (Does anyone realize the power of this?), how much better would you sleep at night knowing that if something bad happens and you lose your job, for 6 months you can live and not have to worry about getting a job tomorrow.

43

[quote]John S. wrote:
Legal tender is money, the states choose what they want to use Gold or Silver. Then the Federal government coins the money. It is the separation of powers.

Read up on the Continental, you will find out why they made the system this way. [/quote]

You have it backwards. The federal government coins the money. To prevent states from coining their own money and causing mass inflation of the money supply, which is what happened to the Continental Dollar when the British counterfeited it, the states are limited to creating gold or silver tender if they want to create any tender at all. This prevents any one state from sabotaging the legal tender for everybody.

44

[quote]admbaum wrote:

[quote]countingbeans wrote:
Have fun being broke and piling up huge losses guys…

I’m out.[/quote]

I bought my daughter a few oz’s when she was born in '08…lets just say her gold, if sold right now will net her 200 bucks per oz over what it cost us. How is that a loss?

To summarize the thread, buy gold, sell drugs, invest in a roth IRA (not a bad idea), decrease debt (dont know how thats an investment), set up an emergency fund, and dont buy gold…without a logical substitute or reasonable alternative. Oh yeah…and buy real estate (dont forget about Osama’s bailout).

I would seriously doubt 12k can buy any real estate that will turn a profit without involving banks and a mortgage. But hey, its a suggestion. 12k worth of gold is more sound of an investment than anything else suggested. Assets and liabilities, whatever you decide on OP, make sure you ask yourself; is this an asset or is this a liability?[/quote]

I’m not getting into the gold debate but pointing out the lack of critical thinking in this thread by some. You purchased gold in 08 for x, and if you sold it now, it’s worth a profit - and you’re implying that because of that math, it’s a sound buy. Well, what if we had this discussion when the market for gold was less than what you purchased it for? What then? Gold is speculative, like all commodities.

Profit or loss is driven by the market, when you buy, when you sell. Someone said if our economy collapses, bullets and like minded people will be more valuable than gold. Gold as another pointed out, is just another form of “currency”. To support “currency”, you must have a market of some type. If our economy collapses as the doomsdayers say, there won’t be much of any legal market…just guns and ammo.

If I can’t negotiate my dollar for food, or my gold for food, guess what? I’m not getting food unless I take it or make it. If the economy collapsed…what would some owner of goods want with it if he couldn’t in turn get value for it? You’d have to have a system of commerce where people were willing to commerce in gold. It is the market and the system that gives gold itself it’s “value”. If all goes to hell, what of the system that sets the “value” of gold?

Riddle me that gold hoarders.

45

[quote]tedro wrote:

[quote]John S. wrote:
Legal tender is money, the states choose what they want to use Gold or Silver. Then the Federal government coins the money. It is the separation of powers.

Read up on the Continental, you will find out why they made the system this way. [/quote]

You have it backwards. The federal government coins the money. To prevent states from coining their own money and causing mass inflation of the money supply, which is what happened to the Continental Dollar when the British counterfeited it, the states are limited to creating gold or silver tender if they want to create any tender at all. This prevents any one state from sabotaging the legal tender for everybody.[/quote]

The Federal government is limited to coining the money. What the money is for the states is up for the individual state to decide. The founding fathers new Fiat was worthless, which is why the constitution is strictly against bills of credit.

You will see why they did it this way really soon. When the commercial real estate market crashes and California is forced to default you will see why they feared fiat money.

46

I know I said I was done but…

[quote]admbaum wrote:

[quote]countingbeans wrote:
Have fun being broke and piling up huge losses guys…

I’m out.[/quote]

I bought my daughter a few oz’s when she was born in '08…lets just say her gold, if sold right now will net her 200 bucks per oz over what it cost us. How is that a loss?[/quote]

Are you seriously are going to use a 2 year price comparison to advise people? Keep posting, you are solidifying your position better than I could.

Do you know how to read the graphs posted?

You just completely contradicted yourself BTW, good work.

What is the difference between earning 3% and saving 6%?

Jesus Christ

Some of us are smart enough to know we have no place telling someone what to do with their money. I mean I run to Geek Squad every time I need investment advice…

BUT I am also smart enough to know a pile of shit when I see one.

[quote] Oh yeah…and buy real estate (dont forget about Osama’s bailout).

I would seriously doubt 12k can buy any real estate that will turn a profit without involving banks and a mortgage.[/quote]

You couldn’t buy 30 square feet of a desert with $12,000 without a note… And with rates lower than 4&5% right now, you are looking at a once in a lifetime deal. I hope to christ you re-financed last year. Anyone that could have and didn’t take advantage of the housing credits and low interest rates the last 18+ months is a moron.

Please explain how buying a fucking hedge commodity is a sound fucking investment when it is just off a what, 30 year fucking HIGH PRICE. Do you not understand that you need to buy shit when it is cheap and sell it when it is high in order to make money?

Holy shit… No wonder most of the world is poor as fuck.

47

[quote]John S. wrote:

[quote]JoeGood wrote:
Gold has served one use over the yars. Everytime things get a little rocky the tinfoil hat guys all come running out screaming “Gold, gold, gold!!!”

Its funny how you never see them when things recover and its value has been cut in half, or worse.

Its even funnier to see guys who weren’t even alive the last time that happen talking up gold as the end all be all. [/quote]

You do realize that Gold was our money up until 71 right?[/quote]

Before I post a responce, I see you post all the time here so I’d like to ask a question. What is your profession and how old are you? Yes it matters, it goes to your level of actual experience.

EDIT: That was harsher than i meant for it to be.

Yes I did know that and I also know that Nixon nixed the fixed price for gold.

I was also alive in the late 70’s when the tinfoil hat guys were running around shouting “The sky is falling” and how gold was the only answer to the soon to be collapse of the dollar, the Gov., Apple Pie, and Mom.

Strangely enough a few years later gold had cratered and those guys had vanished back down the rabbit hole only to pop back up lately.

48

[quote]countingbeans wrote:

Please explain how buying a fucking hedge commodity is a sound fucking investment when it is just off a what, 30 year fucking HIGH PRICE. Do you not understand that you need to buy shit when it is cheap and sell it when it is high in order to make money?

Holy shit… No wonder most of the world is poor as fuck.

[/quote]

Its because they keep printing money and have interest rates way to low. If they put the interest rates where they need to be we won’t be able to pay the interest on our debt. When people finally realize they are stuck between a rock and hard place they will jump to gold.

Now you can buy gold cheaper, best time to buy(this is when I will be buying) is when the commercial real estate bubble pops but before California defaults. That is when you will get the best bang for your buck.

49

forget it, I’m done arguing with someone who thinks 2+2=17

50

[quote]JoeGood wrote:

[quote]John S. wrote:

[quote]JoeGood wrote:
Gold has served one use over the yars. Everytime things get a little rocky the tinfoil hat guys all come running out screaming “Gold, gold, gold!!!”

Its funny how you never see them when things recover and its value has been cut in half, or worse.

Its even funnier to see guys who weren’t even alive the last time that happen talking up gold as the end all be all. [/quote]

You do realize that Gold was our money up until 71 right?[/quote]

Before I post a responce, I see you post all the time here so I’d like to ask a question. What is your profession and how old are you? Yes it matters, it goes to your level of actual experience.

EDIT: That was harsher than i meant for it to be.

Yes I did know that and I also know that Nixon nixed the fixed price for gold.

I was also alive in the late 70’s when the tinfoil hat guys were running around shouting “The sky is falling” and how gold was the only answer to the soon to be collapse of the dollar, the Gov., Apple Pie, and Mom.

Strangely enough a few years later gold had cratered and those guys had vanished back down the rabbit hole only to pop back up lately.
[/quote]

If you raise interest rates to the level they need to be to reign in inflation you won’t be able to pay the interest that it will take to service our debt.

51

[quote]John S. wrote:

[quote]JoeGood wrote:

[quote]John S. wrote:

[quote]JoeGood wrote:
Gold has served one use over the yars. Everytime things get a little rocky the tinfoil hat guys all come running out screaming “Gold, gold, gold!!!”

Its funny how you never see them when things recover and its value has been cut in half, or worse.

Its even funnier to see guys who weren’t even alive the last time that happen talking up gold as the end all be all. [/quote]

You do realize that Gold was our money up until 71 right?[/quote]

Before I post a responce, I see you post all the time here so I’d like to ask a question. What is your profession and how old are you? Yes it matters, it goes to your level of actual experience.

EDIT: That was harsher than i meant for it to be.

Yes I did know that and I also know that Nixon nixed the fixed price for gold.

I was also alive in the late 70’s when the tinfoil hat guys were running around shouting “The sky is falling” and how gold was the only answer to the soon to be collapse of the dollar, the Gov., Apple Pie, and Mom.

Strangely enough a few years later gold had cratered and those guys had vanished back down the rabbit hole only to pop back up lately.
[/quote]

If you raise interest rates to the level they need to be to reign in inflation you won’t be able to pay the interest that it will take to service our debt.
[/quote]

Okay fine, now tell us why everyone on this board should take all of your pronouncements about these things like it comes from Sinai. Tell us about your personal exeriences and triumphs. Tell us about the money you have already made from previous judgements regarding the economy and markets.

Did you short sub-prime mortages?

Did you ride copper up after it bottomed?

Did you catch the bounce on corp. bonds?

You make a case all over these boards for what you think, now tell us what you’ve done.

52

[quote]John S. wrote:
The Federal government is limited to coining the money. What the money is for the states is up for the individual state to decide. The founding fathers new Fiat was worthless, which is why the constitution is strictly against bills of credit.
[/quote]

Again, absolutely backwards. First congress isn’t limited to coining money, it is granted the power to coin money. The states have no say in this, as outlined in section 10. Second, it is only the states that are forbidden from emitting bills of credit. Third, the continental dollar was fiat. Who do you think issued this currency? The continental congress perhaps? You are aware that this congress was the direct predecessor to our current consitution aren’t you, and was made up largely by those we now call the founding fathers?

The reason this dollar failed was, as you would expect, inflation. Partly due to printing too much, partly due to counterfiets. If you want to prevent this from happening, you simply quit printing. Don’t peg your currency to another currency, that’s nonsensical. Just quit printing it. Add an ammendment or pass a law that limits the amount that can be printed, open up the fed’s books. Few here will argue that our dollar doesn’t have its problems, but coming off the gold standard is not the root of the problem, the printing press is. Like I said earlier, no need to throw out the baby with the bath water.

[quote]
You will see why they did it this way really soon. When the commercial real estate market crashes and California is forced to default you will see why they feared fiat money.[/quote]

Again, more talking points. Can you tell anybody here why you fear the downfall of western civilization without linking to youtube?

53

[quote]Rohnyn wrote:
If you had 12 grand and didn’t want to keep in a bank, and wanted it to gain money, how would you invest it?[/quote]

Two chicks at the same time.

54

[quote]ucallthatbass wrote:
houses are on sale right now…gold is/was at a 30 year high…house prices with go up, gold will come down. Pretty easy stuff.

But, I have a feeling that if one thinks that muscle implants will increase strength, then they probably will not qualify for a home loan. Even if 12,000 is a decent down payment in the there market.[/quote]

Why not, they were practically giving home loans to bums on the street a few years ago … oh wait…

55

[quote]countingbeans wrote:

Holy shit… No wonder most of the world is poor as fuck.

[/quote]

No wall 'o text here. But I’m going to assume you contain some semblance of sense here. You do realize in my last post I was summarizing what was suggested in the thread. I’ve been backing gold this whole time. Why the fuck would I back something that involved interest rates like an IRA (something OP was trying to avoid)if I’ve been talking about buying gold. Lest we forget, the OP is looking for a short term profit from his money. If my little example of my daughters gold doesn’t qualify as such, I got bridge I’d like to sell ya.

56

[quote]JoeGood wrote:

Did you short sub-prime mortages?

Did you ride copper up after it bottomed?

Did you catch the bounce on corp. bonds?

You make a case all over these boards for what you think, now tell us what you’ve done.[/quote]

I am brand new to the market, the people I am listening to called the .com bubble and the sub-prime bubble.

the OP is asking what is the best investment he could make with this money, I think having 12 grand worth of inflation protection is probably a good thing with helicopter Ben in charge.

57

[quote]admbaum wrote:
But I’m going to assume you contain some semblance of sense here. [/quote]

You couldn’t keep up with me if I let you.

then why did you? Might want to comprehend your own posts there skippy.

2 years is short term now?

So a non-liquid investment in a volatile hedging commodity is your advice for “short term” profits? Great.

Shit advice is STILL shit.

BTW, the smarter you try and sound, the worse you make yourself look.

58

[quote]Steel Nation wrote:

[quote]Rohnyn wrote:
If you had 12 grand and didn’t want to keep in a bank, and wanted it to gain money, how would you invest it?[/quote]

Two chicks at the same time.[/quote]

I support this investment.

59

[quote]John S. wrote:

[quote]Steel Nation wrote:

[quote]Rohnyn wrote:
If you had 12 grand and didn’t want to keep in a bank, and wanted it to gain money, how would you invest it?[/quote]

Two chicks at the same time.[/quote]

I support this investment.[/quote]

lol

60

[quote]countingbeans wrote:

[quote]admbaum wrote:
But I’m going to assume you contain some semblance of sense here. [/quote]

You couldn’t keep up with me if I let you.

then why did you? Might want to comprehend your own posts there skippy.

2 years is short term now?

So a non-liquid investment in a volatile hedging commodity is your advice for “short term” profits? Great.

Shit advice is STILL shit.

BTW, the smarter you try and sound, the worse you make yourself look. [/quote]

doesnt make meh statments les tru. Eye bot somfin an now it’s werf mo than eye paad fur it. Aint dat profit?

And what have you suggested as an alternative? NOTHING. Way to stand on your soapbox and bitch.

You may disagree and that’s fine. Gold and precious metals are not the only investments to make. We all know that. Your opinion of me and what I’ve said here wont stop my gold from being worth more over time. Until you bring something to the table besides just disagreeing, you aren’t really contributing to the conversation are you? You disagree with me. I get that. Now tell us something better than what I’ve suggested as a short term investment of 12k that will provide a profit without too much risk. If you cant, maybe you should listen to yourself and not contribute at all?