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<p>[QUOTE="Brian Calvert, post: 3575880, member: 75282"]I actually wrote 5 to give myself a buffer. I honestly think it happens towards the end of 2021. Obviously we will be in a rec., that is unavoidable. At the end of that particular year we face a giant dilemma, what to do with Ibor/Libor as they go away. Part of the CB manipulation to force below 0 or Neg. interest rates on Savings accounts and allow them to raise rates on lending cost. In other words, adjustable rate mortgages, Credit Cards, equity loans, and much more will no longer have a base rate. That has been written into many contracts and most dont know it.</p><p><br /></p><p>Example : Please allow this... You have an ADj rate mort. of 1.5% plus Libor. Libor is now 2.25, thus your rate NOW is 3.75% But, if there is no Libor, as written into contracts, the Banks have a right to adjust the rate as needed. You might go to 5,7 11,20% and out of your house you go... They win, you lose, what else is new...</p><p>The one and only thing left is PM's... Only if the USA pulls a 1935 take back, other than that, it is honestly the only safe savings. Keeping wads of CASH at home ? Not so smart, loses value everyday.[/QUOTE]</p><p><br /></p>
[QUOTE="Brian Calvert, post: 3575880, member: 75282"]I actually wrote 5 to give myself a buffer. I honestly think it happens towards the end of 2021. Obviously we will be in a rec., that is unavoidable. At the end of that particular year we face a giant dilemma, what to do with Ibor/Libor as they go away. Part of the CB manipulation to force below 0 or Neg. interest rates on Savings accounts and allow them to raise rates on lending cost. In other words, adjustable rate mortgages, Credit Cards, equity loans, and much more will no longer have a base rate. That has been written into many contracts and most dont know it. Example : Please allow this... You have an ADj rate mort. of 1.5% plus Libor. Libor is now 2.25, thus your rate NOW is 3.75% But, if there is no Libor, as written into contracts, the Banks have a right to adjust the rate as needed. You might go to 5,7 11,20% and out of your house you go... They win, you lose, what else is new... The one and only thing left is PM's... Only if the USA pulls a 1935 take back, other than that, it is honestly the only safe savings. Keeping wads of CASH at home ? Not so smart, loses value everyday.[/QUOTE]
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TRYING TO "Play the GSR" -- HORRIBLE IDEA
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