[ucodegen]

This ruling had me floored. A quick summary:

[ucodegen]

This 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).

[ucodegen]

This 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).

[ucodegen]

So I guess you would cast the tungsten first since it has a higher melting point, then cast the gold around it.

True.. this creates a simple problem to solve in suspending the tungsten in the casting while hardening. You could also try electroplating or hot dip plating. It does mean that the outside may appear different that is if it is an already held reserve (you would be recasting existing bars). On the other hand, if you are trying to create ‘fake’ gold from ground zero and then inject it into the exchange, it is very effective.

http://www.popsci.com/diy/article/2008-03/how-make-convincing-fake-gold-bars
Note that your link referred to ‘steel’ being inside.. which is a little obvious. It is no where close to the density of gold. If they can get away with using steel.. there is a real problem. I wonder if everybody is now busy checking the density of what they have.

I like the quote in your reference.. at the end:

And let me tell you, it’s a sad day for criminal masterminds when my fictional fake gold, designed only to trick a terrorist cell, is so much better than the real fake gold used to rip off a real government bank for millions of real dollars.

[ucodegen]

So I guess you would cast the tungsten first since it has a higher melting point, then cast the gold around it.

True.. this creates a simple problem to solve in suspending the tungsten in the casting while hardening. You could also try electroplating or hot dip plating. It does mean that the outside may appear different that is if it is an already held reserve (you would be recasting existing bars). On the other hand, if you are trying to create ‘fake’ gold from ground zero and then inject it into the exchange, it is very effective.

http://www.popsci.com/diy/article/2008-03/how-make-convincing-fake-gold-bars
Note that your link referred to ‘steel’ being inside.. which is a little obvious. It is no where close to the density of gold. If they can get away with using steel.. there is a real problem. I wonder if everybody is now busy checking the density of what they have.

I like the quote in your reference.. at the end:

And let me tell you, it’s a sad day for criminal masterminds when my fictional fake gold, designed only to trick a terrorist cell, is so much better than the real fake gold used to rip off a real government bank for millions of real dollars.

[ucodegen]

So I guess you would cast the tungsten first since it has a higher melting point, then cast the gold around it.

True.. this creates a simple problem to solve in suspending the tungsten in the casting while hardening. You could also try electroplating or hot dip plating. It does mean that the outside may appear different that is if it is an already held reserve (you would be recasting existing bars). On the other hand, if you are trying to create ‘fake’ gold from ground zero and then inject it into the exchange, it is very effective.

http://www.popsci.com/diy/article/2008-03/how-make-convincing-fake-gold-bars
Note that your link referred to ‘steel’ being inside.. which is a little obvious. It is no where close to the density of gold. If they can get away with using steel.. there is a real problem. I wonder if everybody is now busy checking the density of what they have.

I like the quote in your reference.. at the end:

And let me tell you, it’s a sad day for criminal masterminds when my fictional fake gold, designed only to trick a terrorist cell, is so much better than the real fake gold used to rip off a real government bank for millions of real dollars.

[ucodegen]

So I guess you would cast the tungsten first since it has a higher melting point, then cast the gold around it.

True.. this creates a simple problem to solve in suspending the tungsten in the casting while hardening. You could also try electroplating or hot dip plating. It does mean that the outside may appear different that is if it is an already held reserve (you would be recasting existing bars). On the other hand, if you are trying to create ‘fake’ gold from ground zero and then inject it into the exchange, it is very effective.

http://www.popsci.com/diy/article/2008-03/how-make-convincing-fake-gold-bars
Note that your link referred to ‘steel’ being inside.. which is a little obvious. It is no where close to the density of gold. If they can get away with using steel.. there is a real problem. I wonder if everybody is now busy checking the density of what they have.

I like the quote in your reference.. at the end:

And let me tell you, it’s a sad day for criminal masterminds when my fictional fake gold, designed only to trick a terrorist cell, is so much better than the real fake gold used to rip off a real government bank for millions of real dollars.

[ucodegen]

So I guess you would cast the tungsten first since it has a higher melting point, then cast the gold around it.

True.. this creates a simple problem to solve in suspending the tungsten in the casting while hardening. You could also try electroplating or hot dip plating. It does mean that the outside may appear different that is if it is an already held reserve (you would be recasting existing bars). On the other hand, if you are trying to create ‘fake’ gold from ground zero and then inject it into the exchange, it is very effective.

http://www.popsci.com/diy/article/2008-03/how-make-convincing-fake-gold-bars
Note that your link referred to ‘steel’ being inside.. which is a little obvious. It is no where close to the density of gold. If they can get away with using steel.. there is a real problem. I wonder if everybody is now busy checking the density of what they have.

I like the quote in your reference.. at the end:

And let me tell you, it’s a sad day for criminal masterminds when my fictional fake gold, designed only to trick a terrorist cell, is so much better than the real fake gold used to rip off a real government bank for millions of real dollars.

[ucodegen]

No, gold ownership was made illegal in the 30s for a very specific reason: the dollar was pegged to gold, and there was a run on US gold reserves by foreign noteholders demanding redemption.

Also more ‘dollars’ had to be created. The only way at the time to do that at that time, was to have the gold to back it. That is why people had to surrender their gold and got ‘certificates’. The only exception was for gold in the form of coin.

Now that the dollar is not pegged to gold, it floats freely against it, so I don’t know why private gold ownership would be outlawed again.

No need to outlaw it. Coin dealers or sellers of gold coin like to drum up this fear since in the 30’s, the only way you would not have your gold confiscated was if it was in the form of coin.

[ucodegen]

No, gold ownership was made illegal in the 30s for a very specific reason: the dollar was pegged to gold, and there was a run on US gold reserves by foreign noteholders demanding redemption.

Also more ‘dollars’ had to be created. The only way at the time to do that at that time, was to have the gold to back it. That is why people had to surrender their gold and got ‘certificates’. The only exception was for gold in the form of coin.

Now that the dollar is not pegged to gold, it floats freely against it, so I don’t know why private gold ownership would be outlawed again.

No need to outlaw it. Coin dealers or sellers of gold coin like to drum up this fear since in the 30’s, the only way you would not have your gold confiscated was if it was in the form of coin.

[ucodegen]

No, gold ownership was made illegal in the 30s for a very specific reason: the dollar was pegged to gold, and there was a run on US gold reserves by foreign noteholders demanding redemption.

Also more ‘dollars’ had to be created. The only way at the time to do that at that time, was to have the gold to back it. That is why people had to surrender their gold and got ‘certificates’. The only exception was for gold in the form of coin.

Now that the dollar is not pegged to gold, it floats freely against it, so I don’t know why private gold ownership would be outlawed again.

No need to outlaw it. Coin dealers or sellers of gold coin like to drum up this fear since in the 30’s, the only way you would not have your gold confiscated was if it was in the form of coin.

[ucodegen]

No, gold ownership was made illegal in the 30s for a very specific reason: the dollar was pegged to gold, and there was a run on US gold reserves by foreign noteholders demanding redemption.

Also more ‘dollars’ had to be created. The only way at the time to do that at that time, was to have the gold to back it. That is why people had to surrender their gold and got ‘certificates’. The only exception was for gold in the form of coin.

Now that the dollar is not pegged to gold, it floats freely against it, so I don’t know why private gold ownership would be outlawed again.

No need to outlaw it. Coin dealers or sellers of gold coin like to drum up this fear since in the 30’s, the only way you would not have your gold confiscated was if it was in the form of coin.

[ucodegen]

No, gold ownership was made illegal in the 30s for a very specific reason: the dollar was pegged to gold, and there was a run on US gold reserves by foreign noteholders demanding redemption.

Also more ‘dollars’ had to be created. The only way at the time to do that at that time, was to have the gold to back it. That is why people had to surrender their gold and got ‘certificates’. The only exception was for gold in the form of coin.

Now that the dollar is not pegged to gold, it floats freely against it, so I don’t know why private gold ownership would be outlawed again.

No need to outlaw it. Coin dealers or sellers of gold coin like to drum up this fear since in the 30’s, the only way you would not have your gold confiscated was if it was in the form of coin.

[ucodegen]

@flu
I hope you are not carrying a balance on that card. Some of the banks are jacking up the rate to try to squeeze you.. and hoping that you don’t notice or protest on the rate. It happened to my S.O. and she called in an complained literally with.. “whats up with this rate change“. They lowered her back down near to where she was. If you have a good FICO and have not been late, they are likely to lower it if you call in and complain.

NOTE: The banks are trying to give themselves headroom before the new credit laws take effect.

http://www.marketwatch.com/story/credit-cards-gouge-consumers-ahead-of-new-law-2009-11-06

[ucodegen]

@flu
I hope you are not carrying a balance on that card. Some of the banks are jacking up the rate to try to squeeze you.. and hoping that you don’t notice or protest on the rate. It happened to my S.O. and she called in an complained literally with.. “whats up with this rate change“. They lowered her back down near to where she was. If you have a good FICO and have not been late, they are likely to lower it if you call in and complain.

NOTE: The banks are trying to give themselves headroom before the new credit laws take effect.

http://www.marketwatch.com/story/credit-cards-gouge-consumers-ahead-of-new-law-2009-11-06

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