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Hyperinflation: Get out of debt ASAP...

Hystckndle

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#81
Here's a recent example of exactly that.


I like that part of his advice too.

I don't like that part either.
Ole Dave
LOST his arese on a gold play thinking he was so smart.
And he has never gotten over it.
Stacking over time Dave, that is where it is at.
Why not just say it Dave ?
Instead of beating people up.

Skimming people and yacking about common sense...
Cannot take the guy much myself.
JMHO
 

GOLDBRIX

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#82
Dave went bankrupt on his grand real estate scheme years ago. But he keeps going back to the same trough to drink.
 

Ebie

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#83
From Wikipedia
D Ramsey was born and raised in Antioch, Tennessee. ...As a real estate investor, doing business as Ramsey Investments, Inc., he built a rental real estate portfolio worth more than $4 million by 1986.[3] The bank that was financing his real estate was sold to a larger bank who demanded immediate repayment on the loans. He was unable to pay, and eventually filed bankruptcy in September 1988.
My Comment:
Even if a house mortgage contract allowed the bank to demand "immediate" payment, if the house owner had a net positive portfolio, it would be manageable.
And in the case of Mr. Ramsey, the contracts allowing banks to demand "immediate" repayment are at fault.
 

FunnyMoney

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#84
... contracts allowing banks to demand "immediate" repayment are at fault.
Typically, they write the contract and if you want to play in their casino then you play by their rules.

Bigger fish may have some leverage over them and get better terms.

The really BIG fish have all sorts of strings they pull. A lot of times corruption is involved at this layer as well. Bankruptcy laws are a very easy way to make millions, it's baked into the insurance and all the little and medium size fish pay for it in their premiums. Big fish friends in the banking sector can send you into big money.

Essentially the entire banking system, it's structures and side shoot operations (like bankruptcy courts and insurance companies) is very similar to Taxes.

That's right, Taxes and businesses operate using the same underlying scheme.

Mid and low level workers pay for ALL taxes and they pay for ALL thefts and for ALL money privileged payouts to the big players.

Everyone else has mechanisms to defer or send their costs, in one shape or another, back upon those workers.

Only workers produce and only productivity can in the end pay for something.

It's simply logic, at the end of the day we the workers always pay.

They create the narrative, we pay the bill., or our children do.
 

Thecrensh

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#85
Ole Dave
LOST his arese on a gold play thinking he was so smart.
And he has never gotten over it.
Stacking over time Dave, that is where it is at.
Why not just say it Dave ?
Instead of beating people up.

Skimming people and yacking about common sense...
Cannot take the guy much myself.
JMHO

I don't know anything about Dave Ramsey's past experience with gold...but he agrees with purchasing insurance. To me, gold is a form of insurance policy for hyperinflation and nothing more....I don't use it as an "investment" per se, but rather insurance against hard times. If nothing else, I have something that I can reach out and touch and sell if things go south for me. It is literally protection against unforeseen events...literally what an insurance policy is.
 

GOLDBRIX

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#88
Typically, they write the contract and if you want to play in their casino then you play by their rules.

Bigger fish may have some leverage over them and get better terms.

The really BIG fish have all sorts of strings they pull. A lot of times corruption is involved at this layer as well. Bankruptcy laws are a very easy way to make millions, it's baked into the insurance and all the little and medium size fish pay for it in their premiums. Big fish friends in the banking sector can send you into big money.

Essentially the entire banking system, it's structures and side shoot operations (like bankruptcy courts and insurance companies) is very similar to Taxes.

That's right, Taxes and businesses operate using the same underlying scheme.

Mid and low level workers pay for ALL taxes and they pay for ALL thefts and for ALL money privileged payouts to the big players.

Everyone else has mechanisms to defer or send their costs, in one shape or another, back upon those workers.

Only workers produce and only productivity can in the end pay for something.

It's simply logic, at the end of the day we the workers always pay.

They create the narrative, we pay the bill., or our children do.
I believe if your mortgage is/was SOLD to Fannie Mae/Feddie Mac that clause would not exist. Most Mortgages are SOLD to .Gov and simply managed by the originating financial company( for a fee).
I know when I re-financed at 3% awhile back the bank SOLD my paper to .Gov six months later but they still maintain the account.
 

southfork

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#89
Credit Card debt follows you to the grave .....one step behind the big guy with the scythe.

They might send a few letters and make one or two nice phone calls reminding your kin of that 30 grand on your loved ones VISA but they’re in no way obligated to pay it off and Visa isn’t going to lawyer up and try and take a chunk of the estate unless we’re talking mid to high six figures at least IMO.

Do I recommend maxing out the cards when the doc informs you of your inoperable brain tumor .....no.

Am I sending Visa a check when they call and tell me dear old Grandma Birdie had $8,000 of QVC charges on her CC .....not happening.
Dont forget if the deceased owned a home in a state that has homestead laws, most homesteads are protected from creditors except for the mortgage. They cant touch the house, it gets sold and goes to the heirs.
 

GOLDBRIX

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#90
Dont forget if the deceased owned a home in a state that has homestead laws, most homesteads are protected from creditors except for the mortgage. They cant touch the house, it gets sold and goes to the heirs.
I just received a cut in next year's and future property taxes due to homestead laws. I wonder if that is considered protection ?
 

Thecrensh

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#91
I believe if your mortgage is/was SOLD to Fannie Mae/Feddie Mac that clause would not exist. Most Mortgages are SOLD to .Gov and simply managed by the originating financial company( for a fee).
I know when I re-financed at 3% awhile back the bank SOLD my paper to .Gov six months later but they still maintain the account.
Ditto....I've had 4 mortgages on 2 houses sold within months of getting them. Crazy.
 

Uglytruth

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#92
Banksters unload risk. Take on car loans at a higher rate. Who's making all the money on credit cards? Why can't I buy that stock?