Stock market on fire

[The Heretic]

 

[Burt Gummer]

........... all thru the 2000s-2020 all we heard over and over again from Celente and Schiff, etc, is the collapse, RE, etc was coming .... and crickets .... things simply never stopped climbing.... but once everyone's guard is down 100% ... whamo.

 

[johnly]

Sadly many of the talking head experts make their calls, then do what they can to influence the trading so that they are correct.

 

[Burt Gummer]

Our 30 trillion in debt is actually 3x that amount when future liabilities like SS are factored in. The USA is far, far beyond being just bankrupt. It is like Bernie at Weekend at Bernies. Just a propped up corpse now. Our bombs have stopped other countries from moving away from the dollar. One of my friends is very outspoken about wars, especially in the Middle East, you know, 2003 forward.

I told him many years ago if we didn't do that we would be soon living in squalor. Cardboard box, Zimbabwe style.

We had no choice but to stop nations for using an alternate currency. When we invaded Iraq in 2003 the first permanent structure built was a Rothschild's central bank. Even before a permanent military structure.
Everything in the world is all related to $$ currency. That is all that matters. All the rest is just window dressing.

 

[bolus]

what a fun day.

For you guys not following:

Good ol' Ken Griffin of Citadel (the market maker, the hedge fund, and the guys with the dark pool that does not have to report anything) flew his private jet to Finland today. Billionaire's doing billionaire stuff right?

He's been making a lot of flights lately and staying about 15 minutes on the tarmac at various airports. Coincidentally, at the same time he lands hundreds of billions is seen transacting through bitcoin.

But today in Finland, there was another plane that could not be identified flying from NY to the same tiny airport in Finland at the same time. That's weird, tail number not showing up on the usual plane tracking sites.

They land at the same time at the same airport. well, because the entire planet is upset at these financial terrorists within an hour or so what do we have? A picture of the mystery plane sitting next to Kenny's. It so happens to be the Corporate jet of M&T bank. In a total coincidence who happens to be on the Fed's board of directors? Only the CEO of M&T bank. WHAT?!? Now I'm not saying Kenny met with a Fed director in a clandestine op in Finland trying to hide his plane's tail number. Perhaps it was just 2 rich dudes going skiing.

At the same time what did the DOJ do? well they issued subpoenas for a bunch of hedge funds dealing with short selling.

AND again in total coincidence and surely not related at all to the above

The giant warehouse that happens to hold a cubic poop load of TD Ameritrade's financial documents BURNS TO THE GROUND

Is anyone else not entertained? Man, I'm entertained. Fan-Fing-tastic!

 

[The Heretic]

 

[The Heretic]

 

[bolus]

In case anyone wants to know what the Fed money printer has been doing the last few years, this is a good summary:

Timeline: The Federal Reserve Responds to the Threat of Coronavirus - AAF

Executive Summary On March 15, 2020, the Federal Reserve embarked on a large-scale program employing emergency powers in order to stabilize a tumultuous economy under pressure from the novel coronavirus COVID-19. Chief among these emergency actions are cutting interest rates effectively to zero...

www.americanactionforum.org

These are the stilts holding up the world economy right now.


Here is one to point out:

March 20, 2020 – MMLF Will Now Accept Municipal Debt

The Money Market Mutual Fund Liquidity Facility (MMLF), in co-ordination with the Federal Reserve Bank of Boston, expanded the list of acceptable collateral required for a loan to include high-quality municipal debt.

The feds are propping up minicipal debt. That's state and city debt. If a big enough crash happens, cities will be bankrupt and not able to pay municipal workers. You know, stuff like riot control, firefighters, garbage collection....

You know what that means if food prices get high enough?

probably nothing...

 

[Certaindeaf]

I come to this thread because of @bolus .. well, and you other guys too.

 

[Galant]

Same. I spend a lot of time on Reddit to read all the DD. Bolus gives a great synopsis of what's going on.

 

[bolus]

Same. I spend a lot of time on Reddit to read all the DD. Bolus gives a great synopsis of what's going on.

I try to be the cliff notes of the impending financial crash. Or like we say in medicine, pick out the pearls of knowledge you learn that stick with your better.

So the Pearl from today is the fed is holding up city and state bonds and nothing is holding up the fed but paper printed out of thin air (a lot of paper). And for the preppers here, assume the poice wont be paid during a financial crash so plan accordingly.

 

[Mikej]

I come to this thread because of @bolus .. well, and you other guys too.

I know. Me too.

When @bolus speaks, people listen.

Thanx!

 

[Certaindeaf]

I know. Me too.

When @bolus speaks, people listen.

Thanx!

I have a business degree but not in finance. If I did it over again it would be because it's interesting to me and useful.
I've listened to money talk and consumer watchdog radio my whole life.. it's just what I do.

 

[The Heretic]

I don't doubt that there are a LOT of shenanigans going on at all levels of the economy and markets, but what's a guy to do (besides prepping, pay down debt, etc.) with $500K of (mostly tax deferred) retirement savings when the stock market/et al has been paying 10% on average for decades, banks/CDs/money markets pay less than 1% (not keeping up with inflation) and the stock market has not "collapsed" in 90 years?

I am just going to try to ride it out.

 

[sobo]

I don't doubt that there are a LOT of shenanigans going on at all levels of the economy and markets, but what's a guy to do (besides prepping, pay down debt, etc.) with $500K of (mostly tax deferred) retirement savings when the stock market/et al has been paying 10% on average for decades, banks/CDs/money markets pay less than 1% (not keeping up with inflation) and the stock market has not "collapsed" in 90 years?

I am just going to try to ride it out.

Same, except I have no debt.
I don't know where else to put/keep my money except in a tax-deferred 401k or other IRA vehicle, and some in precious metals. And I don't have the time nor the inclination to try to day-trade my way to riches, or even to much understand the nuances of stock/commodities/futures trading. Just hoping that the market doesn't take a total dump before I expire.

I know, I know... in the words of a former manager of mine with a military background..."Hope is NOT a strategy!"

 

[bolus]

XRT shorted to 1300% today…

SEC had a meeting today to decide if the give the firms 2 years to figure out how to find shares to close one day faster. You know, the firms using high frequency trading to trade millions of shares per second.

 

[The Heretic]

Same, except I have no debt.
I don't know where else to put/keep my money except in a tax-deferred 401k or other IRA vehicle, and some in precious metals. And I don't have the time nor the inclination to try to day-trade my way to riches, or even to much understand the nuances of stock/commodities/futures trading. Just hoping that the market doesn't take a total dump before I expire.

I know, I know... in the words of a former manager of mine with a military background..."Hope is NOT a strategy!"

I've probably said this before in this thread, but my IRAs (and everything else) will mostly go to my daughter. My SS income is adequate to pay my bills, and I think the SS trust fund will last until I kick the bucket. So I will only pull from the IRAs less than it will earn. There is a new proposed bill to delay RMDs until 75 years of age, so that will help - I am going to be doing backdoor conversions every year from the IRA to the Roth, so maybe half the funds will get into the Roth and be tax free for me and my daughter. Probably not going to do that this year though as I am going to try to sell my property, and I will have to pay tax on the profit, so adding the conversion would just be more tax at a higher rate.

My intention is to double the IRA/Roth funds by 2032 - at which point that should be plenty for both me and my daughter.

 

[sobo]

...I am going to try to sell my property, and I will have to pay tax on the profit,

I could be wrong, but I was under the impression that if one sells one's primary residence, then one does not have to pay CGT on the proceeds if one invests in another property. You are going to buy another place to live, yes?

 

[The Heretic]

I could be wrong, but I was under the impression that if one sells one's primary residence, then one does not have to pay CGT on the proceeds if one invests in another property.

You have to pay capital gains on any profit over $250K above what you paid for it (including improvements), if you are single (I am), $500K if married.

Capital Gains Tax on Home Sales

Capital gains taxes on real estate and property can be reduced when you sell your home, up to certain tax limits, if you meet the requirements.

www.investopedia.com

I hope to sell for $750K or more, and I paid $350K, plus about $25K improvements. So, maybe $50-100K that I would need to pay tax on?

 

[sobo]

You have to pay capital gains on any profit over $250K above what you paid for it (including improvements), if you are single (I am), $500K if married.

Capital Gains Tax on Home Sales

Capital gains taxes on real estate and property can be reduced when you sell your home, up to certain tax limits, if you meet the requirements.

www.investopedia.com

I hope to sell for $750K or more, and I paid $350K, plus about $25K improvements. So, maybe $50-100K that I would need to pay tax on?

Ah, OK, so I'm good then. Bought it for $210k, worth over $400k now. So I'm under the $250k equity increase. And I'm single.

So I can sell for, say, $400k, and pocket the whole $400k, and not pay any tax on the $190 equity increase? Sah-weet!