Bankruptcy.. I have No Money for GOLD or Silver : LUSENET : TimeBomb 2000 (Y2000) : One Thread

What if i maxed out my credit cards to the tune of 100,000.00$ and bought gold and then declared bankruptcy. Bury it somewhere and then tell the courts i was on a drunk in Vegas. Hmmmmmmmm..

-- FRED (, August 24, 1999


Fred; We are watching you!

-- The (Feds@Bighouse.gove), August 24, 1999.

Get cash advances on your credit cards, buy your gold and silver but make sure you take a trip to Vegas and keep receipts of your hotel stay. When you do file bankruptcy you will have at least some paper trail. Pay cash and cash only for the gold and silver. Why dig a hole and bury it? You'll need to get to it quick in case you have to bug out. Credit card companies have made it too easy for millions to act irresponsibly. They know we are a society that are self indulgent, can't handle money, and don't care about who we rip off. The banks will go bankrupt if they keep acting irresponsibly themselves.

-- go 4 it (, August 24, 1999.

but you would be stealing and that's wrong right?

-- don't do it (Easy come@easy, August 24, 1999.


I think you're already insolvent.

Go ahead and declare bankruptcy now.

-- Randolph (, August 24, 1999.

FRED---It is not stealing---it is not there money. Pure and simple its your credit historys value. As I have said on a prior thread. You earned it. If you at this late date were lucky enuff to get that much out, you would have to do it in cash. Fill out the CTR ( cash transaction report) take out the biggest amounts that they could muster up for you. Then go to your local little coin shop and start buying gold eagles under $10,000 at a time. Over $10,000 then you would have to fill out another CTR and you dont want to fill that one out. That would screw up your bankruptcy story. Besides if it gets bad there wont be any paying back any-way, systems down for good, data lost for good,etc.etc. Now if its not that bad you have the option of saving your credit history, or keeping the $100,000. This is nothing more then Y2K insurance money. If the banks are telling the truth, no data loss, everything Y2K-OK, its your option not theres. But if there lie-ing you get to cash in on your Y2K insurance policy.

-- Les (, August 24, 1999.

Fred, don't be a creep; Les, you shouldn't encourage dishonesty.


-- Al K. Lloyd (, August 24, 1999.

Fred and especially Les,

You could not be more wrong if you tried (and I believe you are trying very hard). You suffer from the same delusion that shoplifters suffer from. "If you still from a big corporation it doesn't hurt anyone." Wrong, wrong, wrong. What you are talking about is straight out theft.

Frankly, I'm a bit repulsed. You are stealing from everyone who has a credit card or a bank loan. People like you are at least partially responsible for the absurd interest rates the rest of us honest people have to pay.

People like you are part of the problem. This is what is wrong with this country, this world. Every time you steal, it justifies more theft. What happens if/when someone steals that gold or silver that you contemplate buying? Would you defend you ill gotten wealth with lethal force? If you believe in hell, aren't you surely heading in that direction?

-- dgi (, August 24, 1999.

If you steal from a big corporation that's wrong. If you run a still for a big corporation, that's o.k.

-- dgi (, August 24, 1999.

Al, if you visit this forum often you will notice that its main thrust is about what degree of severity we are heading into. Freds credit history is his, and his alone. Depending on his study of what the end game is going to be is directly proportionet to his actions. I believe that this thing is going to crank-up to adleast an 8 on the ritter by the end of next year. All of what he is talking about I have already done, and that was finished in february. Lots of doe is already poring out of the banks, very shortly the credit history you thing you have will vanish, the next problem will be how much of your own money do you think you can get out. If 2% of all depositors out there now wanted all there money, the banks tommorrow would be telling there customers ,gee were sorry our computers are down could you come back latter....sorry...---...

-- Les (, August 24, 1999.

Point of order::

If you really believe that this is the "big one". And you want to GAMBLE with your future. This could be a play that many "rollers" I know will play. The problem is if Y2K =2-3 the feds will come after you. If it is a 10 you are home free.

Any body wanta shoot crapps BIG TIME?

(last time i was lost money was in a coke machine not a slot)

-- helium (, August 24, 1999.

Aw Fred, go for it.

Buy as much gold on your cards as you can. Just don't lose it or spend it. You're not stealing anymore than everyone with a mortgage or a car loan or any other credit debt. If the ecomony goes to hell, you're rich. On the other hand, if gold goes to hell, you'll have to go with it. (could be worse; you could have to go to Lubbock)

But don't even think about bankruptcy at this late stage. Believe me, I've been there, and it's not as much fun as it sounds.

-- Lon Frank (, August 24, 1999.

I'm the first to agree that you could skate with the little scam. The whole point is, do you really want to give up your values for a little money that may be relatively worthless anyway? If the situation gets so bad that you won't have problems with prosecution, the gold would be worth less than a couple thousand rounds of .22's and some canned food.

If things get as bad as it would need to be to justify your little games, then you shouldn't be investing in gold at all. You'll be trading it for pennies on the dollar for shoes, food and ammunition. Don't sell your soul for a few coins.

-- dgi (, August 24, 1999.

Here is the BEST ADVICE that I have ever read about Y2K preparation -- read it and heed it:

"Make sure that you don't prepare so that the world HAS to come to an end for you to come out ahead."

Doomer though I am, I absolutely concede (and hope) that Y2K will turn out to be a bump in the road. (Don't ask me how, because I can't begin to imagine.) Bankruptcy, bad credit history -- these will follow you the rest of your life if we don't go to a permanent Infomagic breakdown.

And I also concede that I don't know much about precious metals (though I always read what people like Andy say about it). Like stocks and bonds, its an INVESTMENT of sorts, and you could lose your shirt. (Now you know as much as I do.)

Finally and most importantly as far as Y2K is concerned, if you declare bankruptcy and have a court divvy up your assets, say bye-bye to preps. Mastercard and Visa will be fighting over your beans, dude. In a word: Don't do it!!

-- King of Spain (, August 24, 1999.

Fred.forget the gold! In the words of the Greatful Dead,'I don't know but I've been told it's hard to run with the weight of gold, but then I've heard it said it's just as hard with the weight of lead,one way or another the darkness got to give!"

-- Bigtime Gotrocks (Shame@at you'd better not do it .com), August 24, 1999.


Don't listen to all those people on the ground. Good advice is a penny a pound. Don't listen. Bankruptcy won't kill you. There's always some fool willing to loan money to anyone, if there's a buck to be made from it. I mean good grief, they finance race horses.

Don't listen to them, sensible as they may be. Bankruptcy courts can't kill you, being broke won't kill you, creditors can't...... well, they CAN kill you, but they can't eat you!

Now, if you were asking if you should go into hock to buy a cigarette boat and cruise for chicks, I would be demure in my advice. But to buy and hold gold, I say go for it, (if you can afford to lose of course).

-- Lon Frank (, August 24, 1999.

Not much different between Fred and any of the thousands of "day traders" that max their credit cards cash advances, then margin that money up and buy 1,000 shares of! At least Fred can sell the gold for a small loss or a gain and pay the credit cards off. When AMZN drops to $5. per share or less, what will the day traders do? Kill the credit card company employees for giving them the cash advance?

-- Bill (, August 24, 1999.

Not one mention of morals... Christianity is truly dead. At one time I would have had a party in celebration. I may still. I'm no KKKristian, but like Ben Franklin, I think that the teachings are useful. Most people don't have the intestinal fortitude to live morally simply because they can. You fart knockers obviously can't. I just hope you never come across anyone like me after the fall. Bad credit will have an entirely different meaning.

-- dgi (, August 24, 1999.


Lighten UP, boy! Since when is buying something of intrinsic value imoral? Fred may be simply using his credit ability to make an investment. If you've EVER bought a home or a car or anything at all with a bank loan, you are just as immoral as he would be.

As far as it being his little scam, I believe everyone here has advised him to be prepared to repay his debts, and only look on gold as insurance against the economy going south in a big way.

And for what it 's worth, have you thought that post Y2K, people with the foresight to protect their wealth may be the rebuilders of society? Wouldn't it be nice if we little folks had a say in that? Maybe Fred could afford to finance a safe water supply for his community. Or maybe he could use his wealth to provide for the hungry and helpless, or fund a rudimentary hospital?

Money, or gold, or barter goods, are just tools. Don't give that old saw about money being the root of all evil, it takes a poor second place to greed, and money can be as moral or as immoral as the person that wields it.

And by the way, you better hope you meet some fart knockers like me if we indeed do have a fall; we will surely need each other.

(P.S., as to my own bankruptcy, it took six long years of family sacrifice but we paid everyone off in full, including the lying, blood-sucking piece of shit who was the court's "trustee") Whoa, looks like it's my turn to lighten up.

-- Lon Frank (, August 25, 1999.

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