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deleted
84 Posts |
 Posted - 03/21/2008 : 12:06:45
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I'm curious whether any of the big-time hoarders here have considered or tried to leverage their hoards- i.e. borrow additional hoarding capital against their hoards.
Would banks accept a copper penny hoard as collateral? It is cash, after all; seems like they should have no problem accepting the hoard for collateral at face, provided it is large enough to meet a minimum requirement.
It seems like the big-time hoarders would be thinking about this kind of leverage, both to really ramp-up their hoarding and affirm their bet on copper vs. the FRN.
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"Truth is treason in the empire of lies." -Ron Paul, from _The Revolution: A Manifesto_ |
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Ardent Listener
Administrator
USA
4841 Posts |
Posted - 03/21/2008 : 12:20:59
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Interesting concept. The problems that I see is that it is not like a penny hoard has a title that they could but a lien on, nor would it be practical for them to hold it physically as collateral due to their large size. In addition, banks charge interest and our not knowing when we will be able to turn a profit the time use of their money could become a financial hardship.
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Think positive. |
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c140cessna
Penny Collector Member
USA
419 Posts |
Posted - 03/21/2008 : 15:41:27
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I use my Home Equity Line of Credit to fund some of my hoard.....when the opportunity to get fresh feed stock exceed my paycheck savings. Some weeks I'm picking up over $1000 in pennies....and hoarding north of $300.
Still riding the copper bull! |
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Leveraging your hoard
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