Saturday, October 26, 2013

Rant about Wall Street

I've lost so much investing in stocks and options that I feel a rant about Wall Street is in order. Of course, I might not be typical because I am schizophrenic and I have delusions of grandeur. But I feel that Wall Street is such a rigged game that no one has any business investing there.
One of the reasons I used to invest was that I was trying to make money the way the wealthy make it. I felt that making money that way would shield me from taxes and my money would be making me more money.
Of course, being a working class person the only money I had to work with was borrowed money. I always started from a position of weakness. I usually started out well but when things turned against me I would have to sell out of my positions before it would turn around.
 Political decisions have also been disastrous for me. I've lost 100% on my Delphi bonds and I lost thousands on General Motors preferred stock. If I had the inside information about those two things I might be a millionaire now.
When I watch the way that Fannie Mae stock moves it is apparent to me that somebody is trading with inside information on a daily basis. Poor people just don't have access to the information that would really make a lot of money. Hedge fund managers and Pension managers do; and we poor people are betting against them. It's a loser's game. I think I came to that conclusion in 1989; when I lost my shirt, trading commodities. I don't know why I keep getting drawn back in. Maybe I watch Jim Cramer on CNBC too much. There was a time that I doubled my money using his advice. Then I started trading options instead of stocks. I lost everything that I had made in a month. That was what happened to the money from the sale of my house.
I wanted to insert this in here. The information you get on TV or the Internet may be tainted. I was watching CNBC a few week ago and someone was saying that gold could only go down from where it was. I think Goldman-Sachs even said something similar. Then gold went up. I think it was because there are so many people like me who are preparing for the collapse (especially in China and India) that we are driving the prices up. Anyway I have to wonder if people put out lies on CNBC to get better prices to buy at.
The last few years I've been trading on borrowed money. It's been a disaster. I've been trying to pay back what I borrowed a year ago last March. It will take another year to get back to just being broke instead of being in debt. It seems that my whole life has been dedicated to paying off debts.
The last six months or so I've been trying to get ready for the economic collapse. I believe it was last June that I was watching the stock market and the gold market collapse in tandem. The only thing that saved us from a total collapse (in my opinion) was that the news media was distracted by the Boston bombing. It looked to me that the world's economy was collapsing. Since then, I've been buying food, guns, and gold.
I am wondering how much of this is my delusional thinking. Now instead of spending on stock options I'm buying 1/10 ounce gold coins. Is this just my old, sick thinking in a different form?
I don't know but I'm going to keep at it. I've got enough gold for now. In fact I might have too much. I saw something on the Internet where someone said that in a Shit Hits the Fan situation that the last thing people will want is a shiny metal. He might be right. I've spent almost $2000 on gold and silver. Peter Schiff seems to think it will retain it's value but I don't know for certain.
Food, on the other hand will always be needed. I bought a 20# bag of rice last week. I need beans and more rice. If I have a 3 month supply I could survive a pandemic as well as the beginning of a financial collapse.
That's my goal for now. Eventually I would like to have my own trailer and some land to park it on. That will take years to achieve. If I can hang on to my job I should have a trailer in a year or two. A mining claim (where I could park my trailer) might come sooner. Well, it's something to work towards.
Later     


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