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Those 2% CD's looking pretty good now

mogley98mogley98 Member Posts: 18,291 ✭✭✭✭
in General Discussion
LOL shame, lot of paper money being lost hope it comes back. Hope those close to retirement were protected. I have a small amount in a 2020 retirement date fund that isn't fairing as well as you would expect a fund with a now retirement date to do. Should have been invincible in my opinion. Market has a long way to drop before it gets to anything but paper profits anyway I guess.
Why don't we go to school and work on the weekends and take the week off!
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Comments

  • mac10mac10 Member Posts: 2,750 ✭✭✭✭
    I have a chunk in a cd that pays 2.75  that was last oct stared falling about dec  good for 36m after that I will expect nothing
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  • spasmcreeksrunspasmcreeksrun Member Posts: 1,755 ✭✭✭
    02.27    to   01.55 interest ...wonder if we will hit zero rate and banks will charge to keep your money..be my cash out time
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  • serfserf Member Posts: 9,217 ✭✭✭✭
     Gold looks better. All other commodities are down because gold is real money not central banks' fiat monopoly money.
                                                                                serf
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  • BobJudyBobJudy Member Posts: 6,672 ✭✭✭✭
    edited March 2020
    I have had some money in an annuity for 15 years that's paid 3%. Some years  I've kicked myself because it is only 3% and other years I wish I had more in that account. I guess it has been a pretty good run if you average out those years compared to CDs and other liquid investments. 

    Gold has no interest for me as it is not easily used as a medium of exchange. I don't envision going to the grocery store and having them accept gold for my Oreos and milk purchase. Gold is nothing but a high priced commodity and we would be returning to the barter system exchanging it for goods or services. Bob
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  • select-fireselect-fire Member Posts: 69,531 ✭✭✭✭
    Remembering the high interest rates at banks..14-15% and locked them in for 5 yr. back in the 80's. At one point I do believe the banks will go negative as some in Europe are. Hard assets are better investments.

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  • MaaloxMaalox Member Posts: 5,155 ✭✭✭
    I have a 24 month CD that will come due the end this month. It was at 2.6% but to roll it over, the best I could do is an 18 month at 2%. This is with Ally bank and a minimum deposit of $5,000. A 3 yr is only 1.75%. Gold would have been a good buy about 8 months ago but with the run up not sure it is as good of an investment as other options.
    Regards, MAALOX
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  • mogley98mogley98 Member Posts: 18,291 ✭✭✭✭
    I think negative rates are probably for sure.  Advantage to the markets is those who are risk averse will have no place else to go but the market for any kind of return at all, on the other hand if people take a beating they may not be willing to go there either. Maybe a good time to invest in another mattress! 

    Why don't we go to school and work on the weekends and take the week off!
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  • serfserf Member Posts: 9,217 ✭✭✭✭
    edited March 2020
    BobJudy said:
    I have had some money in an annuity for 15 years that's paid 3%. Some years  I've kicked myself because it is only 3% and other years I wish I had more in that account. I guess it has been a pretty good run if you average out those years compared to CDs and other liquid investments. 

    Gold has no interest for me as it is not easily used as a medium of exchange. I don't envision going to the grocery store and having them accept gold for my Oreos and milk purchase. Gold is nothing but a high priced commodity and we would be returning to the barter system exchanging it for goods or services. Bob
      You can disinfect gold a whole easier than paper money. B) Gold is hoarded by most central banks and it's value is based on
      Quantity/quality on hand already in fiat currency and its lack of conversion could change in a heartbeat.
                                               serf
     
     
    https://www.pnas.org/content/early/2010/05/19/0914561107.abstract?sid=2f6ac491-1543-436c-bd2c-42320eff4542
    Future pandemics of seasonal flu, H1N1 and other drug-resistant viruses may be thwarted by a potent, immune-boosting payload that is effectively delivered to cells by gold nanorods, report scientists at the University at Buffalo and the U.S. Centers for Disease Control and Prevention. The work is published in the current issue of the Proceedings of the National Academy of Sciences.


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  • BobJudyBobJudy Member Posts: 6,672 ✭✭✭✭
    edited March 2020
    serf said:
    BobJudy said:
    I have had some money in an annuity for 15 years that's paid 3%. Some years  I've kicked myself because it is only 3% and other years I wish I had more in that account. I guess it has been a pretty good run if you average out those years compared to CDs and other liquid investments. 

    Gold has no interest for me as it is not easily used as a medium of exchange. I don't envision going to the grocery store and having them accept gold for my Oreos and milk purchase. Gold is nothing but a high priced commodity and we would be returning to the barter system exchanging it for goods or services. Bob
      You can disinfect gold a whole easier than paper money. B) Gold is hoarded by most central banks and it's value is based on
      Quantity/quality on hand already in fiat currency and its lack of conversion could change in a heartbeat.
                                               serf
     

    Gold, like any medium of exchange has an artificial value assigned it to facilitate economies having a basis for exchange. There is not enough gold in existence to back the world's economy or currency. The world's economy and population growth have far outstripped gold production. You could raise Gold's value to $10,000 an ounce and there still wouldn't be enough to back currency. If we went back to gold backed currency it would collapse the economy. Bob
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  • serfserf Member Posts: 9,217 ✭✭✭✭
      The economy is going to collapse anyway if there is a world pandemic. They might issue a gold back crypto  currency before it all over but gold bullion & BULLION coins will be confiscated by central banks governments. There might be a big reset soon.. say 6 months from now.
                                                      serf
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  • mogley98mogley98 Member Posts: 18,291 ✭✭✭✭
    Beans taste WAY better than Gold and no matter how much Gold you had, if things were really bad I would keep my beans!
    Why don't we go to school and work on the weekends and take the week off!
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  • serfserf Member Posts: 9,217 ✭✭✭✭
     
    mogley98 said:
    Beans taste WAY better than Gold and no matter how much Gold you had, if things were really bad I would keep my beans!
      But if I have extra beans I am sure i don't want your infective cash in an easy exchange medium and if the government is rationing everything then using credit card etc ... is going to be tracked for the common good. Cross all the T's and dot all the eyes.
                                                                   serf


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  • SperrySperry Member Posts: 5,006 ✭✭✭
    edited March 2020
    Bond funds are usually tame.
    And then, there are plastics ...


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