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    • Fri, Oct 17, 2008 - 03:25am

      #9

      wmarsden

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      Re: To sell or not to sell my house

    I also answered before and thought a place where you had built community, a place where you could essentially live for free, a place where you had built a life and loved was an excellent place to be.  What possible deal would be better than that?  It made no sense to me that you were considering selling it in a vaccum.  Where would you move?  What would it cost you?  How long would it take you to get to know your neighbors, to build up garden beds, to own the place outright?  I think it’s impossible to answer this question without knowing what you’re considering doing next. 

    • Sat, Oct 11, 2008 - 11:05pm

      #13

      wmarsden

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      Re: Final update on Monex shipping of physical gold

    The items I ordered from Monex on 9/25 (which is also when I wired them the funds) were ostensibly shipped on 10/1 (according to an email I got) and were delivered by registered U.S. mail on 10/11.  I really sweated that one – it seemed like it took forever to arrive – but just wanted to let you know they did eventually come through.

    • Thu, Oct 09, 2008 - 11:01pm

      #3

      wmarsden

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      Hmmm.   Interesting

    Hmmm.   Interesting subject for Yom Kippur.

    If there’s a reasonable chance that debt will be forgiven, then the reasonable thing to do is to stop loaning people money immediately.  No more car loans.  No more credit cards.  No more student loans.  No more business start-up money.  No more cash-flow lines-of-credit so you can stock up before your busy retail season. 

    But, isn’t that exactly what is going on in the markets right now?

    It makes sense if you think about it.  Once it becomes clear that people will steal your assets if they get near it, it makes sense to lock up my assets where no one can steal them.  In other words, get it out of bonds, get it out of stocks, put it in gold.

    It’s an interesting world we’re creating for ourselves.

    • Tue, Oct 07, 2008 - 11:54pm

      #11

      wmarsden

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      A quick update on Monex shipping of physical gold

    It’s 10/7 and the gold I ordered on 9/25 isn’t here yet.  I got an email saying it shipped on 10/1 and every day I linger around the house waiting for the mailman.  Today I called.

    I got a person reading from a script telling me that there was a five to seven day delay in getting things out of the vault and another five to seven day delay in shipping.  Okay… so how is it being shipped?  "There’s a five to seven day delay in shipping."  Can you track it?  "There’s a five to seven day delay in shipping."  Uh, you said it’s shipped.  Are you saying that you didn’t ACTUALLY ship it, it’s still on your premises, or are you saying there’s a delay in the shipping company, and if so, who is the shipper?  "It’s taking two weeks from the time of an order to get it due to the five to seven day delay in getting things from the vault  and five to seven day delay in shipping."

    I’m picturing them rapidly packing up their boiler room, just trying to eek out a few last wire transfers.  🙁  I’ll report back if I ever do get my physical delivery.

    • Tue, Oct 07, 2008 - 02:24pm

      #3

      wmarsden

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      An example of my “buy” list

    My "buy" list has things on it that I think will retain value or provide utility no matter what happens. I put an accent on getting things FIRST that are from far away and/or require large shipping charges. For example, I wanted a sturdy safe (you can guess why) and that came on a flatbed truck and cost a lot of money. I’m scared I might lose the ability to get things like that.

    I’ve also pre-bought some lumber for making new raised garden beds and some soil amendments (peat moss, etc) that are heavy to ship. I bought rain-water capture barrels and composting bins (though you could make those, too.) I’ve stocked up on cord wood.

    We’ve also put some money into tools and equipment for a side business (that could make money in hard times). I saw a mechanic’s tool-chest at a tag sale the other day that would have been a fantastic thing to buy if I were trying to turn savings into the ability to make future money – except I’m not a mechanic. 🙂

    I read SurvivalBlog.com and the guru there talks about getting your beans, bullets and bandaids in order. Do you have a sturdy first aid kit with ordinary meds you’d want – decongestants, aspirin, things like that? Do you have some food storage going on? For us this required buying some shelving, some five gallon food buckets, and some gamma seal lids. (Google Gamma Seal – they’re cool! You can get a leg up on food storage by going to a local Big Box Discount Warehouse and stocking up on the amount of shelf stable things you keep on hand; rice and sugar, tuna and canned soups, etc, and that costs money. (I suggest only buying things you’d eat in rotation for this.)

    But this is a long emergency I’m preparing for, and it means more than just having twenty cans of tuna on hand. There were start-up expenses associated with learning to preserve the local harvest: a pressure canner, canning jars and lids, a crock for fermenting, a dehydrator. I spent some time and effort and a tiny bit of money setting up the root cellar. Along the way we bought a larger chest freezer and then a back-up generator to power it if the need arises.

    I’ve been preparing for over a year now and I never run out of things that need attention. I don’t have a grain mill. We don’t have any method of getting water if the town stops providing it other than out of rivers or from rain capture – I’d love to get a water filter that could handle that. I just barely bought a pair of sturdy hiking boots but I really don’t have that many nice socks. If you couldn’t buy new clothes for ten years anywhere but the Salvation Army what would you wish you had? A nice warm parka? A rain coat? More socks and underwear? I don’t have any spare tires or even tubes for my utility bike right now.

    I make an effort to buy things that I will use no matter what. I make an effort to buy things locally whenever possible. I make an effort to keep short-term emergencies in mind when doing long-term planning, i.e., would this help if we had a power outage for two days? Then, good, that’s what I’m looking for.

    But at the same time, I make an effort to do these acquisitions out of current earnings WHILE still paying down debt and beefing up savings. It takes time. I expect all of us have a "buy" list if you take time to think about it.

    • Mon, Oct 06, 2008 - 04:09pm

      #10

      wmarsden

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      My experience purchasing direct from Monex

    I called them up on 9/25 and ordered some gold in two different forms.  They sent me to a trading desk and gave me vault ticket #s for the items I had bought.

    I wired them the money and they went silent for a few days.  Then, on 9/29 I got a notice that they shipped the first part (the smaller part).   I got it 10/1.  I called to ask where the second part (the larger part) of the order was.  They said something about it being back-ordered, but I locked in the vault price.  Funny, I had been under the impression that they had it in stock, that my "vault ticket #" was attached to that piece of inventory.  Not so much.

    Meanwhile, gold went down in price.  (Lucky me, having my vaporware locked in.)

    On 10/1 I got a notice that they had shipped the second part. As of 10/4 it had not yet come.  I’m hoping for today. If so, that’ll be 11 days from the time I wired them the money.

    Oh, and they told me that they only had $1000 face values of junk silver coins.  I didn’t want to put a whole $12K into it – and didn’t know if I trusted them – so I passed it up.  I’ve been buying junk silver for a couple of years now in small quantities at a time on eBay, and picking it up here and there around town.  I certainly pay a premium over spot doing it on eBay, but usually get it under spot around town so it evens out.

    • Sun, Oct 05, 2008 - 04:39am

      #4

      wmarsden

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      Can you live anywhere else

    Can you live anywhere else for $500/month? Do you have a supportive community – friends you can count on, neighbors you know, a tenant you like? Do you have an income you can count on to cover your mortgage payment – i.e., are you at risk of sustaining a significant loss of income?

     

    I think a house is more than an asset to be sold by timing the market, I think it’s a core part of where you fit in a community. I’m spending time getting to know my neighbors, building up garden beds, planting fruit and nut trees… I wouldn’t be in a hurry to sell my house just because someone offered me cash for it. If I were trying to downsize, if I were trying to relocate, if I knew the mortgage payment was about to get impossible… then I would sell. Otherwise, no. Live there until you die.

    Just my two cents.

    • Sat, Sep 27, 2008 - 05:16am

      #2

      wmarsden

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      What you’ve got is youth,

    What you’ve got is youth, strength, and health. You can use that to perform labor for which you can be paid. Learn a trade, be a hard worker, don’t whine, be an honest person, be a kind person. These traits will be better than riches.

    • Sat, Sep 13, 2008 - 03:31am

      #8

      wmarsden

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      Thank you for putting this

    Thank you for putting this together so very WELL.
    I was in Kentucky last summer and read an article in a local paper claiming that there might be 100 years’ coal left in the ground (no one was claiming 250 at that point) but that only five years of it was obtainable at current prices/risks. That was a year ago.

    — Wendy Marsden

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