the house of cards is taking hits !!!

[97guns]

more derivative shuffling and shenanigans, a quote from the article:

Bank of America is shifting derivatives in its Merrill investment banking unit to its depository arm, which has access to the Fed discount window and is protected by the FDIC.

This means that the investment bank's European derivatives exposure is now backstopped by U.S. taxpayers.

http://dailybail.com/home/holy-bailout-f...on-of.html


looks like the time to convert paper to phyz could not be more urgent.

[Ivan]

is this a head fake like in the middle of 2011 or is the party getting started. time will tell

[97guns]

(05-19-2012 03:35 PM)Ivan Wrote:  is this a head fake like in the middle of 2011 or is the party getting started. time will tell

sorry, the article was from last year, just realized now

[Viper_99]

(05-19-2012 04:01 PM)97guns Wrote:  

(05-19-2012 03:35 PM)Ivan Wrote:  is this a head fake like in the middle of 2011 or is the party getting started. time will tell

sorry, the article was from last year, just realized now

I have been meaning to ask you what your quote means? Retired in 2009 at 39 - How did you do this and why did you do it?

[97guns]

(05-24-2012 01:41 PM)Viper_99 Wrote:  I have been meaning to ask you what your quote means? Retired in 2009 at 39 - How did you do this and why did you do it?

it means i don't like to work

i did it by saving money and making it make me money(passive income)

i did it because i don't like to work

[97guns]

oh yeah....then i buy silver and gold to make sure i never have to work again, just because i don't like to

[Viper_99]

(05-25-2012 08:16 AM)97guns Wrote:  

(05-24-2012 01:41 PM)Viper_99 Wrote:  I have been meaning to ask you what your quote means? Retired in 2009 at 39 - How did you do this and why did you do it?

it means i don't like to work

i did it by saving money and making it make me money(passive income)

i did it because i don't like to work

Sorry if I sound pushy but how did you amass enough money to stop working at 39? Even if I wanted to stop working I can't, I have things to buy and support. I do have a family and mortgage and we burn through money like it was paper LOL!

[97guns]

i just saved and made some good investments, the bulk of my savings came from home depot. worked there for only 3 years through the dot com run up and made close to 100K with company stock.