Get a bank that reimburses you for other bank ATM fees
If you must pay a fee, take out as much as is reasonable. $5 on $100 is 5%, but $5 on $500 is only 1% – you just cut your “tax” by 80%.
Economics / Investing – What’s coming next
Silver and Gold continue to be unstoppable – After a small correction, silver and gold are higher on the week. Silver is up on the week another $1 or so to close Friday at $48.60 and gold closed at a new all time high of $1564.10.
Dollar testing long(er) term lows – Again, it was only last week that we mentioned the dollar was testing multi-year lows and this week (thanks to Ben and The Fed) it broke through those lows and is now at 73.03 after going as low as 72.8.
Gold is up another $7 today or 0.41%, while the US dollar is down 0.27%. This means that in real terms, gold is up 0.5% today. On Wednesday, the Federal Reserve reiterated its commitment to destroying the US dollar – it appears its working.
It is important to remember that all things are relative. The DOW is “up” 0.4% today, relative to dollars it is up only 0.13%. Priced in gold it is basically flat.
Propser.com is offering a $104 signup bonus for new lenders. The offer is only good for another day, so you will need to hurry. The money goes into your account within 14 days and can only be used to fund Prosper loans. This is not a bad deal at all. If for example you deposit $2000 to start, this is basically an instance 5% return (that will take you at least 3 years to realize).
One thing I find interesting, this offer is limited to ”the first 200 customers who complete the process will be eligible for the $104 bonus“. We here at BYM are still evaluating Prosper’s #1 competitor LendingClub.com and will be writing a report once our test loans fund and can provide a detailed review and opinion.
Silver continues to be unstoppable. Rising $4 more this week to almost $47, another $1 on Good Friday. Silver is probably due for a pull back, as the chart appears to be going parabolic. Parabolic blowoffs are never sustainable, but can run far higher and far longer than anyone expects. Regardless, Ben and the Fed seem fixed on killing the US dollar in an attempt to devalue our long-term debt. This means in the long run owning at least some physical metals is only prudent. Speaking of which, why are pension funds taking physical delivery of actual gold these days? Apparently they are fearful of a COMEX default.
Dollar testing long term lows – While talking about the dollar, the dollar index hit new lows this week, breaking the 2008 low of 74.2 and the 2009 low of 75.6. It settled at 74.1 on Thursday, after going as low as 73.7. There is pretty good chart support here around 74 from the consolidation we had back in early 2007, but if that breaks and the 2007 low of 70.69 doesn’t hold the US dollar could be in for a scary and disorderly drop.
Apple fails to see the light again? – Is it possible Apple will fall from grace for a third time in as many decades? Andriod is not only outselling iOS, it is also going to surpass iOS in total devices very soon. Now the US Army may be standardizing on Andriod. On of the comments over at Engadget sums it up well – “exactly what Android does, it OPENS doors – where iOS (Apple) always decides to CLOSE them”.
Portal 2 was released – The greatly anticipated sequel to an incredible popular game came out this week. So far, this game has a lot of the magic of the first one. The new co-op mode is short, but a lot of fun.
Extreme Couponing and coupon fraud? – This is from 2 weeks ago, but we wanted to add it because it is a very interesting read. It also has some good information on how coupons work. Head over to Angry Cheapstake for more.
Disclaimer: The content on this site is provided as general information only and should not be taken as investment advice. All site content, including advertisements, shall not be construed as a recommendation to buy or sell any security or financial instrument, or to participate in any particular trading or investment strategy. The ideas expressed on this site are solely the opinions of the author(s) and do not necessarily represent the opinions of sponsors or firms affiliated with the author(s). The author may or may not have a position in any company or advertiser referenced above. Any action that you take as a result of information, analysis, or advertisement on this site is ultimately your responsibility. Consult your investment or tax adviser before making any investment or tax decisions.