The xXx Gloom & Doom Report

[colowyo0809]

Ironic as I read this, the ad on the bottom was apply for "social security disability" ... Should that even be something that is an advertisement????

hmm. I just noticed the same thing! And, as I'm typing this the ad in the upper right corner is for a Social security Attorney?!

 

[snapshot]

Anyone notice that within a week or so of Bank of America introducing their new money back credit card that they then announced the $5 fee per month for debit card use? Kinda like they want us to use their credit card (which most folks find harder to keep track of) as opposed to using their debit card (which one can't use if there is no money left in the account). Maybe that will spur the economy and get us spending!

 

[k0xxx]

It wasn't too long ago when banks were pushing people to use debit cards and ATM's, and some were putting fees on teller transactions, because it was so expensive to pay tellers. Now it's too expensive to process the ATM transactions.

 

[FarmerJamie]

It wasn't too long ago when banks were pushing people to use debit cards and ATM's, and some were putting fees on teller transactions, because it was so expensive to pay tellers. Now it's too expensive to process the ATM transactions.

The ATMs must be paid a living wage! After all, our president was blaming them not too long ago for unemployment!

 

[k0xxx]

It wasn't too long ago when banks were pushing people to use debit cards and ATM's, and some were putting fees on teller transactions, because it was so expensive to pay tellers. Now it's too expensive to process the ATM transactions.

The ATMs must be paid a living wage! After all, our president was blaming them not too long ago for unemployment!

Yep, I had forgotten about that.

 

[k0xxx]

The Silver Snowball (not to be confused with the business by the same name).

People are flocking to precious metals. With the Euro falling, and the resulting rise of the dollar, the metals markets have been taking a hit (at least from a dollar perspective). Silver is currently down $10 an ounce from where it was a month ago. When the chaos in Europe plays out, and then makes its' way to our shores, the metals will most likely launch skyward. Realizing this, investors are buying silver like there's no tomorrow (and soon, there may not be :/ ). On Oct 3, , the US Mint sold 737,000 Silver Eagle 1 oz coins in a single day! Considering that in 2010 the Mint sold a record 34,662,000 Silver Eagles, and as of the 3rd of this month has nearly equaled that number with 34,148,500, and we still have nearly three months left in the year.

For the first 21 years that the Silver Eagle has been sold (1986 -2007), only three years saw more than 10,000,000 sold. Then in 2008, when the current financial crisis started, the Mint sold 20,583,000 and in 2009 30,459,000 were sold. If the sales volume of the 3rd were to keep on pace, we could easily see more than 50,000,000 sold.

Another interesting development is the increase in premium. Last year you could buy Silver Eagles on eBay and from the larger precious metals dealers for sometimes under $2 over spot. Lately, it's been hard to find them for under $5 over spot. When the premiums get higher, it shows that buyers are willing to pay more because they believe that they will appreciate past the total cost. So basically, a lot of people think that silver will be going back up to it's former level or beyond.

It is possible that as the EU continues to disintegrate, that silver will drop a bit further when based in dollars. I hope that it does, but I'm still buying at this level because I believe in the long run, that it is still a bargain. YMMV

 

[cabinchick]

Ironic as I read this, the ad on the bottom was apply for "social security disability" ... Should that even be something that is an advertisement????

hmm. I just noticed the same thing! And, as I'm typing this the ad in the upper right corner is for a Social security Attorney?!

Social Security Disability Attorneys work for the private sector. They want to entice everyone who can't find a job to apply for SSI or Social Security Disability (two programs funded completely differently from each other). If the case is sucessful, they get a cut of any back benefits due to the applicant. It's been my experience that any person of sound mind can represent himself, it is not a requirement as many people think. And it's not that difficult, but the attorneys will tell you otherwise.
The way Social Security processes disability claims is so inefficient. And no one in upper management wants to hear about it...at all. They care about escalating their positions within the agency, not about the public, much like most politicians IMHO. The workers are different. They want to prosecute the bad guys who commit fraud, and help those who really need it. Either way, I would have to agree with k0xxx's prior comment. We are screwed. The government isn't listening.

 

[FarmerJamie]

Protests are spreading!!! Occupy Sesame Street!

@Scott Robinson CM is part of the object of protests. via Yahoo!, "According to @michaelkbusch [on Twitter], the muppets think it's 'truly outrageous that 99% of the cookies are consumed by 1% of the monsters on PBS.'"

 

[lighthawk]

The Silver Snowball (not to be confused with the business by the same name).

People are flocking to precious metals. With the Euro falling, and the resulting rise of the dollar, the metals markets have been taking a hit (at least from a dollar perspective). Silver is currently down $10 an ounce from where it was a month ago. When the chaos in Europe plays out, and then makes its' way to our shores, the metals will most likely launch skyward. Realizing this, investors are buying silver like there's no tomorrow (and soon, there may not be :/ ). On Oct 3, , the US Mint sold 737,000 Silver Eagle 1 oz coins in a single day! Considering that in 2010 the Mint sold a record 34,662,000 Silver Eagles, and as of the 3rd of this month has nearly equaled that number with 34,148,500, and we still have nearly three months left in the year.

For the first 21 years that the Silver Eagle has been sold (1986 -2007), only three years saw more than 10,000,000 sold. Then in 2008, when the current financial crisis started, the Mint sold 20,583,000 and in 2009 30,459,000 were sold. If the sales volume of the 3rd were to keep on pace, we could easily see more than 50,000,000 sold.

Another interesting development is the increase in premium. Last year you could buy Silver Eagles on eBay and from the larger precious metals dealers for sometimes under $2 over spot. Lately, it's been hard to find them for under $5 over spot. When the premiums get higher, it shows that buyers are willing to pay more because they believe that they will appreciate past the total cost. So basically, a lot of people think that silver will be going back up to it's former level or beyond.

It is possible that as the EU continues to disintegrate, that silver will drop a bit further when based in dollars. I hope that it does, but I'm still buying at this level because I believe in the long run, that it is still a bargain. YMMV

Mark good luck finding it. (locally anyway) I was at the local coin shop to have my nickel collection appraised and the case where he normally keeps eagles and rounds that he is selling was empty save for one ten ounce bar and three one ounce bars. I personally stopped buying when it hit $12.00 but I had been buying steadily for three or four years prior. Many analysts that I follow regularly are predicting $100.00 an ounce by the end of the year. Anyone looking for large quantities is basically out of luck as the link below explains
http://news.silverseek.com/SilverSeek/1317908668.php

 

[k0xxx]

Mark good luck finding it. (locally anyway) I was at the local coin shop to have my nickel collection appraised and the case where he normally keeps eagles and rounds that he is selling was empty save for one ten ounce bar and three one ounce bars. I personally stopped buying when it hit $12.00 but I had been buying steadily for three or four years prior. Many analysts that I follow regularly are predicting $100.00 an ounce by the end of the year. Anyone looking for large quantities is basically out of luck as the link below explains
http://news.silverseek.com/SilverSeek/1317908668.php

Currently you can find them on eBay, although in nowhere near the quantities of a few months ago, and the larger internet dealers like mintproducts.com. But, the premium is usually over $5 per ounce. Even the eBay auctions of multiple coins are selling on average $5 above spot per coin.

I am still buying as I have the extra money. A couple of weeks ago, I sold 400 grams of sterling scrap, and this last week I bought 11 eagles with the proceeds. I have also been quite lucky in finding more sterling scrap lately and have accumulated another 528 grams worth, so far. I'll wait and see what goes on in the markets before selling this new scrap, while I look for more. Although I'm thinking that I may sell it and buy a 1/4 ounce gold eagle.