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User Info	Koolaid iditots; entered at 2007-12-02 00:24:35
Bw8472 Posts: 6446 Registered: 2007-06-28	Robt, your gold nonesense is tiresome. I've lent money for over 20 years, have you? In that time when I started Credit Cards were relatively rare so I started in consumer finance, when I started we lent out money 750$ a shot, 30% rates to people who were largely all over the map in incomes, we were a convenient source of money, call you come in and 5 minutes later you leave with a check. Then our management went nuts, I worked for ITT, it no longer exists, why? Because we did the same thing as a company that our entire economy just did, we lent money to people who sucked at paying it back and we went from 750$ per account lent out over 24 months to 5000 per account lent out over 60. Robt, you a freaking idiot if you don't see what's comming. There is a ***LOAD of money that isn't real, it's causing GOLD to be priced where it is, when it is destroyed and it will be, fewer $ chasing the same commodity means in terms of those $ the commodity will implode in price. At one time ITT Financial was over 30% of ITT corporate profits, stew on that a second, massive profits that all fell to hell when we had to actually collect the crap. We were closed down, HFC bought the 5 billion $ portfolio for peanuts and still they over paid. I've seen credit cards go from nil to staggering amounts in my lifetime, I've seen people cash out forever, well Robt, all that money is gone, and worse the debt backing it is gone too. You will see soon Robt, very soon. Last modified: 2007-12-02 00:25:33 by bw8472* 2007-12-02 00:24:35