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ucodegen
ParticipantThe demand for gold is insatiable:
Not running out of gold.. just the gold blanks that the coins are minted out of. Lets see:
Sell 1oz, 22carat gold coin for $1244. Cost of one ounce of 24carat gold metal is $1176 per troy ounce. Cost of gold in 22carat coin is $1176(22/24) = $1078. Result = net income of about $1244/$1078 – 1 = 0.1539 or 15% by just pressing into coin.
Platinum coins will be sold beginning next month, the mint said. None have been sold this year, the Web site shows.
I wonder what these will go for. Raw metal goes for $1436.50/oz, which is underpriced against gold when comparing to rarity (about 30 times more rare).
ParticipantThe demand for gold is insatiable:
Not running out of gold.. just the gold blanks that the coins are minted out of. Lets see:
Sell 1oz, 22carat gold coin for $1244. Cost of one ounce of 24carat gold metal is $1176 per troy ounce. Cost of gold in 22carat coin is $1176(22/24) = $1078. Result = net income of about $1244/$1078 – 1 = 0.1539 or 15% by just pressing into coin.
Platinum coins will be sold beginning next month, the mint said. None have been sold this year, the Web site shows.
I wonder what these will go for. Raw metal goes for $1436.50/oz, which is underpriced against gold when comparing to rarity (about 30 times more rare).
Participantyeah, gold’s just a transient trinket. if you have any lying around, I’ll be glad to buy it for 300-400 an ounce. it’s not really worth anything anyway. heck make it $800 an ounce. I’ll buy all you’ve got.
Of course you will buy it below current market prices… this tells me that gold may be in a bubble. You really don’t want to hold onto it for very long – just a ‘quick flip’ – buy it at discount, sell at current market. If you were willing to pay a premium above current market, then it tells me that you really feel the price will go up enough to cover the premium you would be paying. But you are not offering a premium, you are offering to buy at a 20% discount..
Participantyeah, gold’s just a transient trinket. if you have any lying around, I’ll be glad to buy it for 300-400 an ounce. it’s not really worth anything anyway. heck make it $800 an ounce. I’ll buy all you’ve got.
Of course you will buy it below current market prices… this tells me that gold may be in a bubble. You really don’t want to hold onto it for very long – just a ‘quick flip’ – buy it at discount, sell at current market. If you were willing to pay a premium above current market, then it tells me that you really feel the price will go up enough to cover the premium you would be paying. But you are not offering a premium, you are offering to buy at a 20% discount..
Participantyeah, gold’s just a transient trinket. if you have any lying around, I’ll be glad to buy it for 300-400 an ounce. it’s not really worth anything anyway. heck make it $800 an ounce. I’ll buy all you’ve got.
Of course you will buy it below current market prices… this tells me that gold may be in a bubble. You really don’t want to hold onto it for very long – just a ‘quick flip’ – buy it at discount, sell at current market. If you were willing to pay a premium above current market, then it tells me that you really feel the price will go up enough to cover the premium you would be paying. But you are not offering a premium, you are offering to buy at a 20% discount..
Participantyeah, gold’s just a transient trinket. if you have any lying around, I’ll be glad to buy it for 300-400 an ounce. it’s not really worth anything anyway. heck make it $800 an ounce. I’ll buy all you’ve got.
Of course you will buy it below current market prices… this tells me that gold may be in a bubble. You really don’t want to hold onto it for very long – just a ‘quick flip’ – buy it at discount, sell at current market. If you were willing to pay a premium above current market, then it tells me that you really feel the price will go up enough to cover the premium you would be paying. But you are not offering a premium, you are offering to buy at a 20% discount..
Participantyeah, gold’s just a transient trinket. if you have any lying around, I’ll be glad to buy it for 300-400 an ounce. it’s not really worth anything anyway. heck make it $800 an ounce. I’ll buy all you’ve got.
Of course you will buy it below current market prices… this tells me that gold may be in a bubble. You really don’t want to hold onto it for very long – just a ‘quick flip’ – buy it at discount, sell at current market. If you were willing to pay a premium above current market, then it tells me that you really feel the price will go up enough to cover the premium you would be paying. But you are not offering a premium, you are offering to buy at a 20% discount..
ParticipantAny country that builds an indoor ski resort (the size of 3 football domes) in the middle of the desert is an accident waiting to happen.
Depending on how that is run.. it could be quite profitable. Desert cheap land, and the result is the only ski slope for hundreds if not thousands of miles. The website needs an attitude adjustment though..
I think one of the biggest problems was that Dubai was switching to a tourist driven economy as the global economy itself was going T-U.
ParticipantAny country that builds an indoor ski resort (the size of 3 football domes) in the middle of the desert is an accident waiting to happen.
Depending on how that is run.. it could be quite profitable. Desert cheap land, and the result is the only ski slope for hundreds if not thousands of miles. The website needs an attitude adjustment though..
I think one of the biggest problems was that Dubai was switching to a tourist driven economy as the global economy itself was going T-U.
ParticipantAny country that builds an indoor ski resort (the size of 3 football domes) in the middle of the desert is an accident waiting to happen.
Depending on how that is run.. it could be quite profitable. Desert cheap land, and the result is the only ski slope for hundreds if not thousands of miles. The website needs an attitude adjustment though..
I think one of the biggest problems was that Dubai was switching to a tourist driven economy as the global economy itself was going T-U.
ParticipantAny country that builds an indoor ski resort (the size of 3 football domes) in the middle of the desert is an accident waiting to happen.
Depending on how that is run.. it could be quite profitable. Desert cheap land, and the result is the only ski slope for hundreds if not thousands of miles. The website needs an attitude adjustment though..
I think one of the biggest problems was that Dubai was switching to a tourist driven economy as the global economy itself was going T-U.
ParticipantAny country that builds an indoor ski resort (the size of 3 football domes) in the middle of the desert is an accident waiting to happen.
Depending on how that is run.. it could be quite profitable. Desert cheap land, and the result is the only ski slope for hundreds if not thousands of miles. The website needs an attitude adjustment though..
I think one of the biggest problems was that Dubai was switching to a tourist driven economy as the global economy itself was going T-U.
November 25, 2009 at 3:17 PM in reply to: Judge Nullifies Mortgage, Gives House to Couple Who Have no Equity #486773ParticipantThis ruling had me floored. A quick summary:
- Two income household, one is a professor of English and Cognitive Reason, other sells dolls online (which can actually be quite lucrative, depending upon what kind).
- 1994 – Original house, 3400sqft bought for less than $200,000.
- 2004 – refinanced into sub-prime for $292,500 – initial interest 10.375 (peaked at 12.375)
- 2005 – started having trouble making payments, claimed because of health problems (his – the dollmakers, his wife is the professor)
Why did they refi in 2004 into a higher interest rate? This does not make sense. They were ‘set’ until then. There was a claim that it was for health care and his business. I suspect it wasn’t health care as much as equity out for his business.. His wife is a professor and most college prof’s health care covers both partners.
Effectively the guy ends up doing an equity out, ‘gambles’ around $90,000 in a ‘business’, whines to the judge and gets it all erased.. even the principal he owed on the house. I do think that the $235,000 in interest and penalties over 5 years might be excessive.. though 10.375% applied over 5 years yields $186,658 if they had stopped any mortgage payments and with no increase in interest during those 5 years (amount that would pile up if they decided to try to live ‘rent free’ by not paying the mortgage).
November 25, 2009 at 3:17 PM in reply to: Judge Nullifies Mortgage, Gives House to Couple Who Have no Equity #486940ParticipantThis ruling had me floored. A quick summary:
- Two income household, one is a professor of English and Cognitive Reason, other sells dolls online (which can actually be quite lucrative, depending upon what kind).
- 1994 – Original house, 3400sqft bought for less than $200,000.
- 2004 – refinanced into sub-prime for $292,500 – initial interest 10.375 (peaked at 12.375)
- 2005 – started having trouble making payments, claimed because of health problems (his – the dollmakers, his wife is the professor)
Why did they refi in 2004 into a higher interest rate? This does not make sense. They were ‘set’ until then. There was a claim that it was for health care and his business. I suspect it wasn’t health care as much as equity out for his business.. His wife is a professor and most college prof’s health care covers both partners.
Effectively the guy ends up doing an equity out, ‘gambles’ around $90,000 in a ‘business’, whines to the judge and gets it all erased.. even the principal he owed on the house. I do think that the $235,000 in interest and penalties over 5 years might be excessive.. though 10.375% applied over 5 years yields $186,658 if they had stopped any mortgage payments and with no increase in interest during those 5 years (amount that would pile up if they decided to try to live ‘rent free’ by not paying the mortgage).
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