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tboll

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Posts: 299
Reply with quote  #1 
I guess it didn't register with me the first time I read < it > (scroll down to the 7th page) but did folks notice the what and when of Dan's bonus incentive?  I don't know why but I thought it was a bonus for selling the IP (for $10Mil+ in 7 to 12 months) but that's not at all what it says.  The proposal is for a bonus if he comes up with a PLAN for liquidation or reorganization within 7 to 12 months.  When in the world are they supposed to start disbursing repayments to customers if they have only gotten to the point of a PLAN in 12 months?  And if he gets a bonus for completing in 12 months, doesn't that mean it is an EARLIER THAN EXPECTED delivery date for the PLAN?  One would think you only get a BONUS if you do something exceptional, not for just doing your job you are getting paid to do.
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harley_52

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Reply with quote  #2 
The system is rigged, like most others.  The people who get rich are those who are smart enough, connected enough, and unscrupulous enough to make a living by taking legal advantage of those foolish enough to get sucked in to the game.  There's a lesson to be learned here.  It was a costly one, for me, and I plan to be even more careful next time than I was with BDI.
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Lars

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Reply with quote  #3 
I got caught up in the MF Global fiasco, too.  I eventually got all my money back, but it was in four separate installments over the space of about a year.  And it took a good six months or so for the first payment to show up.  Yes, I'm sure there are big differences between the two situations, but the lesson is, don't hold your breath waiting for any sort of restitution.  It's going to be awhile before we see any of our money.
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tappi

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Reply with quote  #4 
Quote:
Originally Posted by harley_52
The system is rigged, like most others.  The people who get rich are those who are smart enough, connected enough, and unscrupulous enough to make a living by taking legal advantage of those foolish enough to get sucked in to the game.  There's a lesson to be learned here.  It was a costly one, for me, and I plan to be even more careful next time than I was with BDI.

Agreed.  Like I have been asking all along, who's looking out for our interests?  Looks like this will be a very long drawn out process and if we ever recover anything it will be very very little.  The big guys and maybe even the government has first dibs on anything substantial.
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tboll

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Reply with quote  #5 
So it might be good advice start to replenish any metals that you can AFFORD (realize that the settlement may be NOTHING) while the prices are down (not necessary today but before you see a trend upward) and not wait until you get your settlement.  This time however, keep your own darn metal (buy gold - it takes up a lot less space).
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Lars

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Reply with quote  #6 
Quote:
Originally Posted by tboll
So it might be good advice start to replenish any metals that you can AFFORD (realize that the settlement may be NOTHING) while the prices are down (not necessary today but before you see a trend upward) and not wait until you get your settlement.  This time however, keep your own darn metal (buy gold - it takes up a lot less space).

That's my plan.  I get free shipping from APMEX.  And that's a silver lining (no pun intended) to the low spot prices lately.
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gvag

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Reply with quote  #7 
Does any one think gold can go back to $2000 from now or will it hit lows and stay there for another 2 decades! All the hype of gold and silver going to moon seems to be the all fraud propagated by these bullion dealers. I am having confidence now on green back that I stopped buying any metal for sometime..
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plankton

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Posts: 65
Reply with quote  #8 
It's a cycle of course and right now - USD is high, stock market is high, property values are high so bonds/bullion have less money in them (low).  If USD/stock market remains strong forever then yes bullion (bonds) will be depressed but who believes that.  Be diversified.

Some of the best stock deals I've made were when there was financial blood running down the sidewalk (2008 Bank of America (BAC), etc).  Remember when Palladium was $220 an ounce before the Russians decided to control the market?  Remember when Silver was $7, Gold $650 oz?

Keep an eye on gold/silver prices/news and slowly accumulate.

I'm not lawyer, not financial adviser, just Joe Sixpack making a few pennies on various markets from time to time. Make your own decisions and don't trust anyone else to do it for you.

PS Assuming you take possession please write down the bar serial numbers, take pictures, etc so in theory you can point to a PM and say 'that one is mine identified by XYZ'.
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gvag

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Posts: 6
Reply with quote  #9 
I have been in Gold and Silver from 2005 and till 2013. I took profit when Silver was at $49, but again rebought some at $33.

If you follow fofoa blogs, you will see that he never recommends silver. His ideas on free gold is very interesting where the gold price will be revalued to high price to reset the debt levels, while the paper currencies like euro and metals like silver will be devalued to level that you could have a $50 silver - $50 for 100-ounce bar!

For this reason, I am thinking of converting silver to gold, also gold is easy to store.
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LaCostaRacer

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Reply with quote  #10 
Quote:
Originally Posted by gvag
Does any one think gold can go back to $2000 from now or will it hit lows and stay there for another 2 decades! All the hype of gold and silver going to moon seems to be the all fraud propagated by these bullion dealers. I am having confidence now on green back that I stopped buying any metal for sometime..


Gold is weak in Dollar terms but is hanging in against many other currencies. If gold was so undesirable you would see it weaken against all currencies but that has not happened.

The Dollar is strong because of the allusion that the Fed is going to hike interest rates in the near future based on the strong U.S. economy.  The economy is not a whole lot better than it was in 2009- sure there are a few more people employed but many of those folks have part-time jobs.  Sure the jobs report came out with 200k+ jobs but 80k of those jobs are estimates based on the birth/death rate of new businesses.

While the Fed could raise rates, the U.S. government really can't afford to pay the increased interest rates.  Also the economy is barely staying alive with near-zero rates that are intended to help it- how does it work with increased rates for the economy?


Once the Fed blinks and doesn't raise rates in September, gold will rebound. Today was an indication of how quick gold can change direction from down to up with a nice gain to $1103.  It's better to be years early than a day late-  unfortunately BD screwed many of us that bought early.

So there are many reasons to hold both gold and silver and now is the time to buy while the prices are still relatively low.

 
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