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butcher said:
Notice how china and India value gold.

The whole Asia is in to gold by tradition. Middle East as well. The gold around the arms and necks on a female is not only decoration. Its often given to them, by tradition, as a security if something would happend. I have wondered many times how much gold the females of Asia and Midde East carry.

The price for gold items are lower in these countries than in West. In West you pay much more than the metal value. In Thailand for example you can even change items, to an other design, for a low fee.

In West we "normal" people now days have a diffrent approach to gold. Its glamour not security.


A little gold anekdote from my life

Once i stood looking at gold items in a middle East country. Two adult female from a Westen country stood in the same shop. I overheard following conversation

- Its really cheap here
- Yeah. Its fake gold. You can not trust these people
- Better not buying here then
- No, wait until we come home

I stood in a tax free shop at Abu Dabi international airport. :lol:
 
Not strictly true. Edit- yes it's true!! I misread your post.

The Chinese culture from the bottom upwards values gold as an investment. They all like to keep gold in their homes.

The analogy of the women at the airport just points to the fact that they were dumb. 8) 8) 8)
 
anachronism said:
The Chinese culture from the bottom upwards values gold as an investment. They all like to keep gold in their homes.

They also avoid going into debt. Here the greater family comes in. They put up the money needed for the just married to buy an apartment and similar basic investments.

Then think that the over sea Chinese have a total economy equal to US. They are strong and stand steady
 
Most Americans are in debt, they may have a new car, a house... And appear to be doing well.
When in reality they do not own any of it, for it is all held on credit. If they ever will own any of it they will be paying over and over for it in interest.

Now there are a few of those poor-looking Americans that drive around an old run-down pickup truck with bald tires and an over-load of firewood for sale, they may look poor but that ole boy owns a piece of land, and his own business, and has a little gold buried for just in case. He does not owe anyone a dime, and by my standards is a richer man than the average American who lives his life in debt to make himself feel richer.

Living on credit makes as much sense to me as relying on paper money to hold its value.
Not that credit cannot be used wisely, or that by itself it is a bad thing, it is that most people do not use it wisely, or do not know how to use it wisely.

Before you can save you have to get out of debt, put that credit card away, live by your means, save where you can, invest where you can.
If you can pan a little gold from the creek find you a safe spot and bury it for the future it will always be worth something even after all of our paper dollars have rotted away, or no longer hold any value.
Work on supporting yourself with your investments...

There is also the poorer class of working man who pays a much higher weekly rent to some slum landlord because he cannot afford a down payment on a monthly rental that would cost him much less, or he cannot afford the down on land and a home, he may get advances on his paycheck and paying interest on that, he may be going to the pawnshop to borrow money to be able to feed his family, and he pays a high interest on that.
He looks poor and he will stay poor as long as he is living on credit.
 
butcher said:
Most Americans are in debt, they may have a new car, a house... And appear to be doing well.
When in reality they do not own any of it, for it is all held on credit. If they ever will own any of it they will be paying over and over for it in interest.

Now there are a few of those poor-looking Americans that drive around an old run-down pickup truck with bald tires and an over-load of firewood for sale, they may look poor but that ole boy owns a piece of land, and his own business, and has a little gold buried for just in case. He does not owe anyone a dime, and by my standards is a richer man than the average American who lives his life in debt to make himself feel richer.

Living on credit makes as much sense to me as relying on paper money to hold its value.
Not that credit cannot be used wisely, or that by itself it is a bad thing, it is that most people do not use it wisely, or do not know how to use it wisely.

Before you can save you have to get out of debt, put that credit card away, live by your means, save where you can, invest where you can.
If you can pan a little gold from the creek find you a safe spot and bury it for the future it will always be worth something even after all of our paper dollars have rotted away, or no longer hold any value.
Work on supporting yourself with your investments...
Well said. Never finance anything that depreciates and very little that does.

Sent from my SM-G950U using Tapatalk

 
I agree with your post completely Richard.

To add something that isn't very PC - until your guy at the bottom makes the hard choices and does what he needs to do to get out of needing credit he will never do so, and most do not, because it's easier to stay there.

Jon
 
This Month, I bought a 6.3KW generator, cable adapter to run my TIG Welder off the generator and L14-30 extension cord. In addition, I am adding an automatic transfer switch between the house and electric meter, so that, if power goes out, I can get us back to running the essentials, such as fridge, heating, heat pump etc.
Every Month, I pay off my credit card.
Where do You think I'm going? Not to Disney World, I can assure you.
 
AshesoftheUniverse said:
This Month, I bought a 6.3KW generator, cable adapter to run my TIG Welder off the generator and L14-30 extension cord. In addition, I am adding an automatic transfer switch between the house and electric meter, so that, if power goes out, I can get us back to running the essentials, such as fridge, heating, heat pump etc.
Every Month, I pay off my credit card.
Where do You think I'm going? Not to Disney World, I can assure you.

Exactly. Reinvesting pays dividends, it takes a while and isn't seen as a quick fix but after a while the benefits are enormous.
 
anachronism said:
AshesoftheUniverse said:
This Month, I bought a 6.3KW generator, cable adapter to run my TIG Welder off the generator and L14-30 extension cord. In addition, I am adding an automatic transfer switch between the house and electric meter, so that, if power goes out, I can get us back to running the essentials, such as fridge, heating, heat pump etc.
Every Month, I pay off my credit card.
Where do You think I'm going? Not to Disney World, I can assure you.

Exactly. Reinvesting pays dividends, it takes a while and isn't seen as a quick fix but after a while the benefits are enormous.
First thing, I invest in my family, then I invest in myself. I buy new tools, increase my skills, and help others do the same.

I don't plan to be one of the Illiterati, with no resources or skills.
Joke: What is the difference between the village idiot and the wealthiest man in town?
The village idiot doesn't have any debt.
 
“I invest 90% of my money on women, fast cars (mainly BMW’s) and fine champagne...

I waste the other 10%.”

It would make my day if someone recognised that quote.
 
Jmk88 said:
“I invest 90% of my money on women, fast cars (mainly BMW’s) and fine champagne...

I waste the other 10%.”

It would make my day if someone recognised that quote.

I believe it was W. C. Fields that said that

Kurt
 
No...

George Best.

He’s an Irish football player. Regarded as one of the best ever.
 
Got it a bit wrong - what W. C Fields said -------

"I spent half my money on gambling, alcohol and wild women. The other half I wasted."

New York Mets pitcher Tug McGraw is the one that said -----------

""I spent 90% of the money I earned on women, Irish whiskey and fast cars...the other 10% I wasted"

Kurt
 
Jmk88 said:
No...

George Best.

He’s an Irish football player. Regarded as one of the best ever.

yes George Best also said - "Ninety per cent went on drink, fast cars and women. I wasted the rest."

I believe (but could be wrong) W.C. Fields was the original --- George & Tug just put thier own twist to it

Kurt
 
"I spent half my money on gambling, alcohol and wild women. The other half I wasted."

WC Fields



Sent from my SM-G950U using Tapatalk

 
WC Fields was a funny guy - one of my favorites (in his comedy act) was when he would take a drink of water - then spit the water out & say --- "water - what are you doing - trying to poison me" (or something like that)

:lol: :lol: :lol:

Kurt
 
:lol: :lol: :lol:

I never knew! Makes sense though... especially the Irish connection!

Very interesting to know!

It’s my favourite quote of all time.
 
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