Steadfast FinancesBest Reads of the Week: Gold Bubbles, TBTF Banks, & PR Improvements

Best Reads of the Week: Gold Bubbles, TBTF Banks, & PR Improvements

Filed in Administration , Banking , Investing 101 , Peer to Peer Lending 4 comments

When one of the best commodities traders around (Dennis Gartman) tells you that gold is going higher, but also warns that gold bubble has formed, then it’s time to hold on for a wild ride. Which is why I keep saying that traders know it’s a bubble, and that gold is a trade, not an investment above $1000 per ounce.

Regardless of your stance on gold, the chart is still moving in an uptrend and generating profits. As long as this trend is in place, momentum traders will continue to bid up gold until they see no reason to do so. Until that day, enjoy the unrealized gains and hopefully you’ll be quicker on the trigger than the hedge fund traders.

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Thought Provoking Posts

Banks Can Manipulate Your Transactions, Then Charge You 1750% Overdraft Fee.

A 1750% ROI by Bank of America’s fee based business model is even better than seasoned options traders can make on the best of days. This sort of return rivals what options traders can get when they know political insider information and one of the big reasons why I’m on my Fight the TBTF Banks soapbox.

Rollover to Lending Club’s new No-Fee IRA!

Power of Compounding Interest in a Tax Free Roth IRA (via Lending Club)Lending Club is doing a stellar job at breaking down the barrier to entry for the little guy who wants in on the cash cow returns once retained by the banking/lending industry. Compounding interest is a remarkably powerful force in the wealth building process, so if you can put this to work in a tax free investment vehicle, it’s definitely worth a serious look.

When you consider that the biggest selling point of equities used be the “stocks have a historical return on investment of 10% or more per year” argument, the arrival of P2P lending begins to make that little light bulb appear over a savvy investors head and say… what if?

For more info, you can check out their No-Fee IRA program here.

Ratigan To Barney Frank: The Financial Lobby Owns Your Committee.

How can you expect real regulation of an industry to take place when the regulators owe their seats to the very industry that gives them money to obtain that seat. If ever there was a classic example of bias to be taught in a business ethics class, this is it. I’m just waiting for clever artist to draw up a cartoon of the big financials holding Uncle Sam by the cojones saying Who’s Your Daddy Now!

Flex CD Offers High Yield if the Dollar Tanks Against BRIC Currencies.

I’ve been considering opening an Everbank account to get access to what I call the “Forex market with training wheels.” Essentially it’s a very clever way to invest in foreign currencies because you are guaranteed to get a standard CD rate of return (2% to 4%), but have the potential to get much more. For example, if the Brazilian Real increases in value while the U.S. Dollar continues it’s decline, you have the potential to make double digit returns. If you’re wrong, you still get the 2% to 4% ROI.

Wish my index funds worked the same way!

Why Are There Homeless Veterans in America?

Just once, I’d like to see a politician get asked this question while he or she has a gigantic American flag flowing in the background after proclaiming America is the greatest country in the world. Just because you applaud a soldier at airports between deployments doesn’t mean you’re doing more than your part to support the troops. So if want to donate some time or maybe even give those unused frequent flyer miles to a wounded vet’s wife and kids, take a look at charities like The Fisher House or the Wounded Warrior Project.

Moreover, if Goldman Sachs is serious about repairing their public relations image and silence the outspoken TV personalities from calling them a “sack” on live television, throwing a few billion in this direction would work far better than allocating $500 million to a small business loan program.

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Posted by CJ   @   22 November 2009 4 comments
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Nov 22, 2009
3:13 pm

Cool Matt, will check out both The Fisher House and theWounded Warrior Project.

Best, Sam

Nov 23, 2009
9:47 am

I LOVE Wounded Warrior Project. I donated coffee to them some time back via Boca Java (my donation was matched) and I got a lovely letter back from the soldiers. Totally made my holiday!

Nov 23, 2009
11:01 am
#3 Matt SF :

Thanks all,

I really like both of these charities since they support the military family infrastructure, rather than just giving a few disposable items or basic cash.

Call me a Mama’s boy, but I’d say the only thing worse than being injured in combat is not having enough money (or donated frequent flier miles) for Mom to come see you while in the hospital.

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