Peter Schiff

[[Da...]]

Right on FG. My dad is an upper 1% kind of guy and he thinks US cash is king right now. He was raised by immigrants and never went to college but he's pretty wise and intelligent. I talk to someone on reddit that I consider very smart. He said if the US dollar goes under guns and ammo will be worth more than gold and silver. By the way, there are lots of immune supplements on nootropics depot if you guys are interested that are top notch. I'm taking Immune Defense and it is helping me feel more confident that I will be okay. That combined with Wim Hof breathing/cold showers and meditation I feel like I might just make it without a ventilator if things go wrong. Also, I feel like a weight is gradually lifting off my chest now that I cut that toxic friend out of my life. He was so annoying and mean to me. I used to have better cognitive functioning and he knew it and made fun of me for it and would call me an idiot and retard all the time and addict loser to my face when I would stumble with thoughts and questions. What really did it recently was when I asked him what something meant on the thinkorswim platform, which ended up to be how many orders for a particular option, represented by a number next to a bunch of other numbers and info and more numbers, next to the option contracts. I have limited experience and he was doing this for two years. I still think it was a fair question considering how unfamiliar I am.

 

He told me his little sister would understand this better, that I was an idiot for asking and that if I didn't understand this, that I would struggle and that I couldn't do it well which is absolutely bullshit because I am smarter than this dude actually. I didn't cheat at university on math or science courses because I was too proud. Then he criticized me for being an addict and a loser basically because I asked questions, saying I should be doing this myself and that I shouldn't depend on him to learn. It was extremely insulting and made me feel terrible about my self and he knew it. That particular day I asked the question was the end of the day and I was going through a massive wave of symptoms and I just felt really bad about myself. I can't deal with that anymore. Nobody should have to be treated that way. The funny part is this guy is a big idiot himself who cheated his way through everything. He never even read the literature on td ameritrade and properly learned what to do. Anyway, he wasn't a good friend bottom line and things would have been different  if he treated me with the respect that I deserved because I was always nice to him to his face, which I think is very important when it comes to treating people. He took my energy by calling me all the time and it was psychologically draining on so many levels because of his narcissistic personality. If anyone has someone like this in their lives they should cut them out. It took me a long time to do it because I cared about him and we were friends for a long time. It isn't easy cutting people out but sometimes it is necessary if the person will not change. And when we first met I was on Suboxone and pretty much just like him in many ways. We would always say horrible things to each other's faces and we were both seeming unaffected by it. The Suboxone just made me not give a shit though as much. Once I came off that stuff I became more aware of how off he was but by then it was too late and we were friends for many years. Suboxone really messed up my life. Being an opioid addict turned me into a bad person too at the time considering that I stole money from my own family to buy drugs. I was young when I did it but it is still pretty low considering other people I know would never do anything like that regardless of how dope sick they were. I also had a problem with stealing things back then. I think using DMT and other psychedelics made me realize how to tune into my conscience and be a better person but it inadvertently caused a panic disorder when I mixed it with alcohol and other drugs that one time, but by then I had already used it enough times to grow enough hopefully. I hope one day I can cure my panic disorder and continuing to use psychedelics on a limited basis because it really seemed to help me be more good. I know I'm not supposed to talk about psychedelics on BB but they really helped me tune into my conscience and feel connected to everything. I was a lost cause like my friend before I really tapped into these altered states of consciousness. It was only then that I wanted to change and become a good person because I never felt good and connected to the universe before then and didn't understand what it was like to actually feel like God must feel, which is connected to everything and to love everything. People are really lucky if they actually feel this way without psychedelics because I do not. I suffer because I feel disconnected, especially now since this benzo stuff. I don't feel much anymore except impaired and inadequate. But I try to be a good man because I want the rewards to come one day. I know I need to try harder though. Maybe I can get there by meditating and other ways without using psychedelics. Anyway, I love you guys even though it seems like I don't. I just had a hard life. I lost everything and feel traumatized. It feels good slowly getting it back though.

 

Congrats on cutting that guy out, he seems like a real douche. Hope you are feeling better soon Mamoot. Any particular trades you are interested in? I don't really trade individual stocks much anymore since there are just too many people out there with better info than I will ever have on particular companies, but it can definitely be fun if you are ok with the risk and extra work.

[[no...]]

Heya Nova..

Lol, I should get plenty sleeping with my mouth open..

 

Re. the clay, I have been wondering if my rain water is doing me a disservice, as opposed to mineralised (and probably organic) ground sourced water..

 

We, as humans, have really strayed from the path..!!

 

**

Chess, yup..!! -What more can one say..!!

 

I guess thats a limitation if Organic, -Without the Biodynamic..  Neat orchards with trimmed grass just dont cut it like a few producing plants scattered amongst an existing ecosystem...

 

Sorry, not feeling very “texty” today...

Right on Eat the weeds man!!!  I use to pick Dandelions, ferns, nettles all sorts, eat edible flowers when I was able to get out and bout as that stuff is really good for you . no such thing as a 'Weed'  in reality'unless your trying to control nature give me  wild field any day   

 

 

Eat the weeds http://www.eattheweeds.com/

 

 

 

Nova xxx  :smitten:

[[Hy...]]

Personally I prefer eating weed https://www.leafly.com/products/edibles to eating weeds.

 

 

Chessplayer

[[Hy...]]

This thread has gotten away from the original post, sorry. My opinion on Schiff and his ilk is that anyone whose primary worry at this point is protecting their investments is worrying about the wrong thing. My main concern now is keeping myself and my loved ones alive.

[[Fl...]]

This thread has gotten away from the original post, sorry. My opinion on Schiff and his ilk is that anyone whose primary worry at this point is protecting their investments is worrying about the wrong thing. My main concern now is keeping myself and my loved ones alive.

 

That's everyone's short term goal, but everyone needs to keep in mind that money, investments, the economy etc. is also a matter of survival. Some of us have a greater risk of serious health complications from a virus, but some of us have a greater risk of losing our homes or the ability to feed ourselves due to the long term consequences of a virus. To discount either type of situation is foolish.

[[Hy...]]

Yes FG I agree we all need to ensure we have enough to survive. I was thinking more of the rich guys sitting there in their million dollar mansions getting everything delivered to them and saying "hey you working-class dweebs get back to work, you're over-reacting... I need to ensure the stuff i'm ordering keeps arriving and I need to preserve my million dollar stick portfolio...". Yes there are still Trump-supporter types saying things like that, and it's moronic. I am reminded of the Spanish explorer Pizzaro in the 1500's who died because his ship, laden with stolen gold, sank to the bottom of the Amazon river...

[[Fl...]]

Yes FG I agree we all need to ensure we have enough to survive. I was thinking more of the rich guys sitting there in their million dollar mansions getting everything delivered to them and saying "hey you working-class dweebs get back to work, you're over-reacting... I need to ensure the stuff i'm ordering keeps arriving and I need to preserve my million dollar stick portfolio...". Yes there are still Trump-supporter types saying things like that, and it's moronic. I am reminded of the Spanish explorer Pizzaro in the 1500's who died because his ship, laden with stolen gold, sank to the bottom of the Amazon river...

 

Most of the people in the world aren't sitting in multi-million dollar mansions worried about their next delivery arriving on time. A substantial portion of the world's population is worried about how they are going to survive if they lose a few weeks worth of income.

 

We can't just it down into an issue of health vs. economy, both are important to most people in varying degrees.

[[Gr...]]

Mamoot- there is no shortage of people claiming money is going to be worthless soon.  This has been going on quite a while.  I know a couple, who, well at first he husband watched some videos on youtube of a somewhat famous guy, sorry I don't remember who it was.  Anyways, he convinces the guy that money will be worthless "soon" and so he decided to cash in all his retirement money.  Then his wife wanted to do some remodeling on their house, and they both agreed it was better to cash in her retirement money as well, instead of borrow it.  This was over ten years ago, and they just have way less retirement money than they used to and their house was remodeled. 

[[Hy...]]

I certainly think it is *possible* that this leads to a total economic collapse. But I still claim you're asking the wrong question. All forms of money (cash, stocks, gold, silver, bitcoin, whatever) represent a claim on future economic output. If that goes to 0, all forms of money go to 0 also. In that case, you better find some land and learn to hunt or farm if you want to live. I think we already had a conversation about this, maybe in another thread.

[[Hy...]]

FG, I basically agree with you. I guess I'm just angry/dismayed that in the US, our *leaders* seem to be thinking of just the rich in mansions when they craft their responses. By contrast, in some European countries, they are trying to "freeze" the economy (so companies and jobs stay intact through a period of shutdown) while ensuring a necessary subset (food, healthcare) keeps functioning and gets distributed to all. Here in the US, it's just "sorry you lost your job and have no money to pay rent and buy food, here's a $1200 check, have a nice day".

[[Ch...]]

FG, I basically agree with you. I guess I'm just angry/dismayed that in the US, our *leaders* seem to be thinking of just the rich in mansions when they craft their responses. By contrast, in some European countries, they are trying to "freeze" the economy (so companies and jobs stay intact through a period of shutdown) while ensuring a necessary subset (food, healthcare) keeps functioning and gets distributed to all. Here in the US, it's just "sorry you lost your job and have no money to pay rent and buy food, here's a $1200 check, have a nice day".

 

And people who work jobs like housecleaning and working the fields (jobs that US citizens won’t do) are not getting any money whatsoever even though they pay taxes.

[[Fl...]]

Here in the US, it's just "sorry you lost your job and have no money to pay rent and buy food, here's a $1200 check, have a nice day".

 

That is absolutely not true at all. Have you seem the new legislation that was passed last week?

 

Basically everyone in the US gets a $1200 check. People who have gotten laid off or fired or had their hours reduced will likely qualify for federal unemployment assistance of $600 per week PLUS whatever they qualify for in their home state. Small businesses and independent contractors can apply for more than one type of low interest loan, some of which is forgivable if it is used for certain purposes, such as keeping employees on the payroll. They have temporarily frozen mortgage foreclosures and evictions, and most creditors, utility companies etc are making accommodations for people who have found themselves in a financial bind. We also still have lots of welfare programs that aren't going anywhere.

 

That's the problem I have with your statement. You are trying to make this out to be a black and white thing when it is anything but.

[[Fl...]]

Mamoot- there is no shortage of people claiming money is going to be worthless soon.  This has been going on quite a while.  I know a couple, who, well at first he husband watched some videos on youtube of a somewhat famous guy, sorry I don't remember who it was.  Anyways, he convinces the guy that money will be worthless "soon" and so he decided to cash in all his retirement money.  Then his wife wanted to do some remodeling on their house, and they both agreed it was better to cash in her retirement money as well, instead of borrow it.  This was over ten years ago, and they just have way less retirement money than they used to and their house was remodeled.

 

This is a valid point but I don't think we should be ignoring the fact that devaluation of our currency is already happening in the form of inflation and there is more than a zero chance of some kind of a catastrophic collapse happening at some point in the future.

 

 

[[Fl...]]

And people who work jobs like housecleaning and working the fields (jobs that US citizens won’t do) are not getting any money whatsoever even though they pay taxes.

 

I'm not going to respond to this from the obvious political angle but it is important to point out that the idea that there are jobs that US citizens won't do is a myth- https://cis.org/Report/There-Are-No-Jobs-Americans-Wont-Do

 

If immigrants "do jobs that Americans won't do", we should be able to identify occupations in which the workers are nearly all foreign-born. However, among the 474 separate occupations defined by the Department of Commerce, we find only a handful of majority-immigrant occupations, and none completely dominated by immigrants (legal or illegal). Furthermore, in none of the 474 occupations do illegal immigrants constitute a majority of workers.

[[Ch...]]

And people who work jobs like housecleaning and working the fields (jobs that US citizens won’t do) are not getting any money whatsoever even though they pay taxes.

 

I'm not going to respond to this from the obvious political angle but it is important to point out that the idea that there are jobs that US citizens won't do is a myth- https://cis.org/Report/There-Are-No-Jobs-Americans-Wont-Do

 

If immigrants "do jobs that Americans won't do", we should be able to identify occupations in which the workers are nearly all foreign-born. However, among the 474 separate occupations defined by the Department of Commerce, we find only a handful of majority-immigrant occupations, and none completely dominated by immigrants (legal or illegal). Furthermore, in none of the 474 occupations do illegal immigrants constitute a majority of workers.

 

It was meant as a political comment.  It’s simply the reality, in California anyway.

[[Be...]]

I hope they pass the bill here in my state next week to open our non-essential businesses if they follow CDC guidelines.  The Congressman who introduced it said keeping all the businesses closed is doing more "harm" than the actual virus.  Our Governor closed all non-essential businesses until further notice.  People can't pay their bills, alcoholics are dying in my state from DT's from no liquor. 

[[no...]]

And in UK off licenses were reopened as ''essential'' that's because our Politicians are mostly Alcoholics and need to get their drink from somewhere other than Aldis, Lidils  or any other supermarket selling booze where they think their too better than everyone else in this country to go shopping or use the corner shop and lots of em' are probably still partying with very expensive bottles of Champagne.

 

Yet they closed ALL the Pubs and Clubs as '''non essential'' it doesn't make sense,  same thing different spelling a place where the public gather and buy Alcohol  you still get the virus off someone in the Offie its not  a virus free zone and lots of people will be stood face to face in those places not 2 metres apart as laid down by the UK Government when in public .

[[Ma...]]

 

 

Congrats on cutting that guy out, he seems like a real douche. Hope you are feeling better soon Mamoot. Any particular trades you are interested in? I don't really trade individual stocks much anymore since there are just too many people out there with better info than I will ever have on particular companies, but it can definitely be fun if you are ok with the risk and extra work.

 

Hey DG. Hope you are doing well too. I'm not entirely okay with day trading but it is a valuable skill to learn at least for now. I was exclusively doing options trading on the s&p 500, SPX. It requires just being on top of the news and a good sense of what the market is leaning towards, but at the end of the day it is just professional gambling, especially when you are just the little guy's. The big fish eat you up but if you are really good at analysis you can get rich I think with the right strategy. You can never get greedy though.

 

My mistake was just listening to a narcissist. Just to recap, there are several types of orders you can put in when you buy option contracts for a particular underlying asset, in this particular situation it was a single, put option contract for SPX. Usually, I put a limit order in, so I can set the price I want to pay for the option but on this particular day I could not get the order to go through. The narcissist told me to put in a market order, but at the same time mentioned that he wouldn't personally do it because "he has alot of money" in his account. He also has margin so he can borrow money from td ameritrade. I didn't have a margin account, it was a cash account. So, this genius is like, just put in the market order. If the option is too expensive the order will not go through since you do not have the buying power. But he was dead wrong. I originally was set to buy the option with the market order for $277 too. At least that's what it said before I pushed send. But during a market halt it can dramatically change the spread and they hit the circuit breaker and trading was temporarily suspended when I pushed the send button. The way the computer program works is it just goes from the most expensive option to the least I think in order from when trading resumes. It could have been way worse and my friend actually new this. I could have bought a 10 thousand dollar option. His ego is so big he refused to admit he made a mistake and kept telling me td ameritrade is screwing me as well but at the same time is saying it is my fault too which is hilarious. And he said they should have never sold me the option since I am a cash only account but it doesn't matter, once those orders go into the system you just get stuck with it when you do a market order. He kept telling me I should demand a full refund plus the $680 I lost instead of just apologizing and sharing the mistake with me. He even admitted to never studying the literature and is all self taught. This guy is moron and ego maniac. I will get to the bottom of this though. If there is any truth to what he is saying I will eventually find out but I highly doubt td ameritrade is trying to screw me over over a few grand. That's just crazy talk.

 

Shortly after I put in the market order and bought that option, which costed $2900, td ameritrade closed the position for $800. They said it was because at this point I had a zero balance in my account, and it was so I wouldn't incur more loses. Which honestly makes sense considering what can happen. People have lost millions of dollars in these same exact situations as me btw playing with large sums of cash. Keep in mind I literally bought one option contract. Imagine if I bought 10 or something or 20. Anyway, my jerk off friend lost money himself doing a market order early in the game too on top of it. Just don't understand how he could be so sure of himself that td ameritrade is screwing me based on his cash vs margin account bs theory.

 

Besides this he would call me retarded and an idiot all the time for asking him valid questions about the trading platform. He would literally make fun of me every day it was so annoying. He would even treat me as if I was gay, and himself, even though we are both straight, it was excruciatingly uncomfortable having to listen to him pretend he was gay everyday and all the insults. I couldn't take it anymore. This guy is a complete douche bag, cartoon joke of a human being. He cheated on every exam to get his engineering degree in extreme ways and bragged about it while taking anabolic steroids and nootropics, cutting every corner you can think of. Anyways, I am glad I cut him out. I can't believe the scum I attract in my life. Goes to show you what a POS I used to be. I was never as bad as this dude though I swear. But my addiction caused me to suck at every aspect of life greatly. I am just grateful that I'm changing and I realize my faults and weaknesses and have the ability for deep introspection unlike this joke of a person.

 

I'm still listening to Peter Schiff trying to figure all this out. So far there are a few theories on what will happen to the US dollar according to some of these experts but it seems they all end with the collapse of the dollar. It doesn't seem like it will happen soon but I don't know, it seems like they are all saying the same thing about this QE infinity.

 

The Fed is lifting limits on how much it could lend to government and businesses. As people stay home and tax payments are deferred Businesses and governments are desperate and need money to pay bills. The Fed prints money and lends it to federal government or central banks. Usually the Fed limits the amount of money it prints to keep currency rates and inflation stable. Last week or so it limited its lending to 700B but now it’s lifting the limit and will lend as much as necessary to limit job losses. New programs are being created to get money to struggling businesses. They launched a new facility that they didn’t have in 2008 that supports corporate bonds. Next, they will create more programs that supports small and medium businesses. Printing money sounds good but taxpayers will eventually have to foot the bill for the new government debt. This will all cause hyperinflation and the dollar will lose its purchasing power according to Schiff. And he keeps telling us to buy Schiff gold. Unbelievable. He is so convincing too. He might be right.

 

My dad doesn't think this will happen do to many factors. I think he thinks the US will offset this by making things again but I have no idea. I'm very confused. I'm just worried because my dad has alot of cash. He keeps telling me we are in the best position because we have no debt and no mortgage but I still worry now. It seems impossible to buy gold right now anyways because the demand is going up.

 

There is a good chance gold may go down too before the price skyrockets but Peter Schiff is saying it will go up up up. Not sure what will happen. I'm confused.

 

Edit.1: So, I just wanted to add my dad thinks that even if the the us dollar loses its purchasing power we will be able to weather the storm maybe but Schiff is saying people with savings and retirement accounts or whatever are going to get wiped out. His pitch is to buy gold and foreign assets in countries with more stable economies. My dad has faith in America though. He keeps thinking about the military and all this other stuff and keeps telling me it's all good don't worry about it. Maybe investing in real estate is a good option. I almost want to just become a sheep farmer at this point because we own some property where this is possible. I would feel safer to have a million in gold coins, a bunch of sheep and a machine gun with lots of ammo. I almost want to start buying up tankers of gasoline if I could. I don't know I'm dreaming right now.

[[Hy...]]

I hope they pass the bill here in my state next week to open our non-essential businesses if they follow CDC guidelines.  The Congressman who introduced it said keeping all the businesses closed is doing more "harm" than the actual virus.  Our Governor closed all non-essential businesses until further notice.  People can't pay their bills, alcoholics are dying in my state from DT's from no liquor.

 

Seriously??? You are in Pennsylvania, right next to New York. Do you watch the news? Like, what is happening in New York? You think the virus is not doing much "actual harm"? You are seriously arguing PA should lift its lockdown???

[[Hy...]]

 

(Long discussion about where to put your money now...)

 

I'm confused.

 

 

Yes, you are.

[[Ma...]]

Okay captain obvious, Bobby Fischer, Grandmaster extraordinaire. Can you offer some clarity on the situation

[[Hy...]]

Sure. What I'm doing is this: Stay safe at home. Keep healthy. Ensure I have necessities to survive short-term (food etc). Try to keep job if possible, but if lose it, try to ensure I have skills to survive. Money (non-retirement savings and retirement savings) is in the bank in very safe investments -mostly cash - and I don't waste valuable mental energy worrying about it. It *might* disappear in value e.g. if there is collapse + hyperinflation, but then *anything* might collapse in value and it's a fool's game trying to move around your money in a panicked way to preserve its value through a collapse, which I previously argued on this thread (you weren't listening) is not possible. Your real asset is *you* (your health, your abilities, your relationships). It's not a piece of paper with some numbers on it. Realize that, and you will be better off.

 

Love and peace,

 

Bobby Fischer

[[pi...]]

I hope they pass the bill here in my state next week to open our non-essential businesses if they follow CDC guidelines.  The Congressman who introduced it said keeping all the businesses closed is doing more "harm" than the actual virus.  Our Governor closed all non-essential businesses until further notice.  People can't pay their bills, alcoholics are dying in my state from DT's from no liquor.

 

I'm sorry but I value lives more than the economy. Our country has survived very tough economic times, my dad was a child of the depression.  We can and will work towards building the economy again but the most important thing we do now is to protect our people, all people who live in the USA. 

[[Fl...]]

And in UK off licenses were reopened as ''essential'' that's because our Politicians are mostly Alcoholics and need to get their drink from somewhere other than Aldis, Lidils  or any other supermarket selling booze where they think their too better than everyone else in this country to go shopping or use the corner shop and lots of em' are probably still partying with very expensive bottles of Champagne.

 

Yet they closed ALL the Pubs and Clubs as '''non essential'' it doesn't make sense,  same thing different spelling a place where the public gather and buy Alcohol  you still get the virus off someone in the Offie its not  a virus free zone and lots of people will be stood face to face in those places not 2 metres apart as laid down by the UK Government when in public .

 

Uh, no.

 

The real reason why liquor stores are likely considered "essential" is because policymakers understand that alcohol keeps people occupied and arguably passive. We don't want to see what happens when people are cut off from being able to drown their sorrows in a bottle. People are already starting to get restless and agitated. Cut off one of the few forms or recreation they have left and it isn't going to be pretty.

 

Also, there is a big difference between shutting down bars and restaurants and shutting down retail operations. Liquor stores are certainly busier right now but they still don't have the occupancy density of a crowded bar or restaurant.

 

 

[[Be...]]

We have about 700,000 people in my county and only 54 confirmed COVID cases and this county is mostly rural and people don't have alot of contact with each other.  Yes, I think they should open the businesses using the CDC guidelines in place.  It's not a big problem here in my county like it is in big cities.  I think certain counties would be ok to have their businesses open again.