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	<title>Comments for ETF DAILY NEWS</title>
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	<link>http://etfdailynews.com</link>
	<description>The latest headlines and news you need for informed trading</description>
	<lastBuildDate>Wed, 22 Feb 2012 14:53:35 +0000</lastBuildDate>
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		<title>Comment on Market Deja Vu? The Price of Gasoline Begins To Surge Out Of Control Again (UGA, USO, XLE, XOM, CVX) by Candice</title>
		<link>http://etfdailynews.com/2012/02/21/market-deja-vu-the-price-of-gasoline-begins-to-surge-out-of-control-again-uga-uso-xle-xom-cvx/comment-page-1/#comment-23281</link>
		<dc:creator>Candice</dc:creator>
		<pubDate>Wed, 22 Feb 2012 14:53:35 +0000</pubDate>
		<guid isPermaLink="false">http://etfdailynews.com/?p=50270#comment-23281</guid>
		<description>The average American will have to lower their standard of living even further. Gas prices are going up, up, up. That results in everything else getting more expensive too due to increasing transportation costs, which in turn means people are buying less and more jobs are being lost. It&#039;s all inter connected. 

More and more people are relying on the gov for handouts unemployment/welfare/food stamps) and eventually these will be cut 
or stop all together. What do you think will happen then?? We are stocking up on food storage to prepare for what is surely to come. Check out ShelfRelianceSanAntonio.com The food is fantastic and the prices low (... for now).  I&#039;ve got car insurance, and home insurance.... food insurance is the logical next step. Even if things are getting better, which I doubt, we can always eat the food!</description>
		<content:encoded><![CDATA[<p>The average American will have to lower their standard of living even further. Gas prices are going up, up, up. That results in everything else getting more expensive too due to increasing transportation costs, which in turn means people are buying less and more jobs are being lost. It&#8217;s all inter connected. </p>
<p>More and more people are relying on the gov for handouts unemployment/welfare/food stamps) and eventually these will be cut<br />
or stop all together. What do you think will happen then?? We are stocking up on food storage to prepare for what is surely to come. Check out ShelfRelianceSanAntonio.com The food is fantastic and the prices low (&#8230; for now).  I&#8217;ve got car insurance, and home insurance&#8230;. food insurance is the logical next step. Even if things are getting better, which I doubt, we can always eat the food!</p>
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		<title>Comment on Market Deja Vu? The Price of Gasoline Begins To Surge Out Of Control Again (UGA, USO, XLE, XOM, CVX) by Candice</title>
		<link>http://etfdailynews.com/2012/02/21/market-deja-vu-the-price-of-gasoline-begins-to-surge-out-of-control-again-uga-uso-xle-xom-cvx/comment-page-1/#comment-23280</link>
		<dc:creator>Candice</dc:creator>
		<pubDate>Wed, 22 Feb 2012 14:51:03 +0000</pubDate>
		<guid isPermaLink="false">http://etfdailynews.com/?p=50270#comment-23280</guid>
		<description>Once again the average American will have to lower their standard of living even further. Gas prices are going up, up, up. That results in everything else getting more expensive too due to increasing transportation costs, which in turn means people are buying 
less and more jobs are being lost. It&#039;s all inter-connected. 

More and more people are relying on the gov for handouts unemployment/welfare/food stamps) and eventually these will be cut 
or stop all together. What do you think will happen then?? We are stocking up on food storage to prepare for what is surely to come. Check out ShelfRelianceSanAntonio.com The food is fantastic and the prices low (... for now).  I&#039;ve got car insurance, and home insurance.... food insurance is the logical next step. Even if things are getting better, which I doubt, we can always eat the food!</description>
		<content:encoded><![CDATA[<p>Once again the average American will have to lower their standard of living even further. Gas prices are going up, up, up. That results in everything else getting more expensive too due to increasing transportation costs, which in turn means people are buying<br />
less and more jobs are being lost. It&#8217;s all inter-connected. </p>
<p>More and more people are relying on the gov for handouts unemployment/welfare/food stamps) and eventually these will be cut<br />
or stop all together. What do you think will happen then?? We are stocking up on food storage to prepare for what is surely to come. Check out ShelfRelianceSanAntonio.com The food is fantastic and the prices low (&#8230; for now).  I&#8217;ve got car insurance, and home insurance&#8230;. food insurance is the logical next step. Even if things are getting better, which I doubt, we can always eat the food!</p>
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		<title>Comment on Is Germany Secretly Maneuvering To Kick Greece Out Of The Euro? (VGK, FXE, EWG, EWI, EWP, IEV) by K.H.</title>
		<link>http://etfdailynews.com/2012/02/21/is-germany-secretly-maneuvering-to-kick-greece-out-of-the-euro-vgk-fxe-ewg-ewi-ewp-iev/comment-page-1/#comment-23268</link>
		<dc:creator>K.H.</dc:creator>
		<pubDate>Wed, 22 Feb 2012 04:50:00 +0000</pubDate>
		<guid isPermaLink="false">http://etfdailynews.com/?p=49629#comment-23268</guid>
		<description>You find this fascinating? This is tragic.</description>
		<content:encoded><![CDATA[<p>You find this fascinating? This is tragic.</p>
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		<title>Comment on Billionaire Hedge-Fund Manager John Paulson Says Now&#8217;s the Time To Buy Gold (GLD, IAU, SGOL, PHYS, SLV) by adam</title>
		<link>http://etfdailynews.com/2012/02/21/billionaire-hedge-fund-manager-john-paulson-says-nows-the-time-to-buy-gold-gld-iau-sgol-phys-slv/comment-page-1/#comment-23259</link>
		<dc:creator>adam</dc:creator>
		<pubDate>Tue, 21 Feb 2012 22:26:23 +0000</pubDate>
		<guid isPermaLink="false">http://etfdailynews.com/?p=50582#comment-23259</guid>
		<description>Paulson sold 1/3 his shares in GLD on Nov 15, 2011. When it was hovering $173. And now its a super buy @ $171? What a clown. You should have held then. I guess hindsight is 20/20, but Schiff sight is pretty damn close.</description>
		<content:encoded><![CDATA[<p>Paulson sold 1/3 his shares in GLD on Nov 15, 2011. When it was hovering $173. And now its a super buy @ $171? What a clown. You should have held then. I guess hindsight is 20/20, but Schiff sight is pretty damn close.</p>
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		<title>Comment on Proof Of U.S. Greater Depression (SLV, GLD, SDS, FAZ, AGQ) by Toni</title>
		<link>http://etfdailynews.com/2012/02/16/proof-of-u-s-greater-depression-slv-gld-sds-faz-agq/comment-page-1/#comment-23254</link>
		<dc:creator>Toni</dc:creator>
		<pubDate>Tue, 21 Feb 2012 18:51:10 +0000</pubDate>
		<guid isPermaLink="false">http://etfdailynews.com/?p=50355#comment-23254</guid>
		<description>This article does not account for the hundreds of thousands of households and businesses making a serious effort to conserve energy by turning lights off when not in use-etc and the thousands of people moving to public transit just because they want to.
There is such a drastic waste of energy in this country that perhaps the new light bulbs plus motion and light sensors are making a huge difference.  I know I have cut my consumption over 30% without effecting my quality of life.</description>
		<content:encoded><![CDATA[<p>This article does not account for the hundreds of thousands of households and businesses making a serious effort to conserve energy by turning lights off when not in use-etc and the thousands of people moving to public transit just because they want to.<br />
There is such a drastic waste of energy in this country that perhaps the new light bulbs plus motion and light sensors are making a huge difference.  I know I have cut my consumption over 30% without effecting my quality of life.</p>
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		<title>Comment on Gold Prices: Central Bank Gold-Buying Increases By 500% (GLD, GDX, SLV, GG, ABX, GG, KGC, AUY) by Greek Debt Deal, WGC Report Have Gold, Silver Surging &#124; InvestorPlace</title>
		<link>http://etfdailynews.com/2012/02/17/gold-prices-central-bank-gold-buying-increases-by-500-gld-gdx-slv-gg-abx-gg-kgc-auy/comment-page-1/#comment-23250</link>
		<dc:creator>Greek Debt Deal, WGC Report Have Gold, Silver Surging &#124; InvestorPlace</dc:creator>
		<pubDate>Tue, 21 Feb 2012 16:58:56 +0000</pubDate>
		<guid isPermaLink="false">http://etfdailynews.com/?p=50549#comment-23250</guid>
		<description>[...] higher than Friday&#8217;s price fix, according to Kitco market data. Demand for gold reached a record nominal high in 2011, according to the World Gold Council, though investment demand rose 5% year-over-year. [...]</description>
		<content:encoded><![CDATA[<p>[...] higher than Friday&#8217;s price fix, according to Kitco market data. Demand for gold reached a record nominal high in 2011, according to the World Gold Council, though investment demand rose 5% year-over-year. [...]</p>
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		<title>Comment on &#8220;TVIX&#8221; ETN Topples &#8220;VXX&#8221; ETN As Highest Volume VIX ETP by Ray</title>
		<link>http://etfdailynews.com/2012/02/18/tvix-etn-topples-vxx-etn-as-highest-volume-vix-etp/comment-page-1/#comment-23249</link>
		<dc:creator>Ray</dc:creator>
		<pubDate>Tue, 21 Feb 2012 12:34:25 +0000</pubDate>
		<guid isPermaLink="false">http://etfdailynews.com/?p=50596#comment-23249</guid>
		<description>Question on TVIX -- I purchased over 1000 shares of TVIX when it was $46.00.  Do you see me ever getting this back?????</description>
		<content:encoded><![CDATA[<p>Question on TVIX &#8212; I purchased over 1000 shares of TVIX when it was $46.00.  Do you see me ever getting this back?????</p>
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		<title>Comment on Will This VelocityShares Daily 2x VIX Short-Term ETN Go To Zero? (TVIX, VXX, XIV, ZIV, VXZ) by Bobby</title>
		<link>http://etfdailynews.com/2012/02/20/will-this-velocityshares-daily-2x-vix-short-term-etn-go-to-zero-tvix-vxx-xiv-ziv-vxz/comment-page-1/#comment-23248</link>
		<dc:creator>Bobby</dc:creator>
		<pubDate>Tue, 21 Feb 2012 11:23:37 +0000</pubDate>
		<guid isPermaLink="false">http://etfdailynews.com/?p=50272#comment-23248</guid>
		<description>You talk about long term and short term.  These are relative.  Can you give an example of short term in day, months or years?</description>
		<content:encoded><![CDATA[<p>You talk about long term and short term.  These are relative.  Can you give an example of short term in day, months or years?</p>
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		<title>Comment on Proof Of U.S. Greater Depression (SLV, GLD, SDS, FAZ, AGQ) by Andrew P</title>
		<link>http://etfdailynews.com/2012/02/16/proof-of-u-s-greater-depression-slv-gld-sds-faz-agq/comment-page-1/#comment-23226</link>
		<dc:creator>Andrew P</dc:creator>
		<pubDate>Sun, 19 Feb 2012 23:08:18 +0000</pubDate>
		<guid isPermaLink="false">http://etfdailynews.com/?p=50355#comment-23226</guid>
		<description>We have just had the warmest winter in a long time, so a decline in energy consumption is not surprising. Refiners who produced heating oil for a normal winter find themselves with excess product, so they need to export. China and India are still going like gangbusters, so there is plenty of customers to export to. Nothing to see here, move along.</description>
		<content:encoded><![CDATA[<p>We have just had the warmest winter in a long time, so a decline in energy consumption is not surprising. Refiners who produced heating oil for a normal winter find themselves with excess product, so they need to export. China and India are still going like gangbusters, so there is plenty of customers to export to. Nothing to see here, move along.</p>
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		<title>Comment on Proof Of U.S. Greater Depression (SLV, GLD, SDS, FAZ, AGQ) by Mary Saunders</title>
		<link>http://etfdailynews.com/2012/02/16/proof-of-u-s-greater-depression-slv-gld-sds-faz-agq/comment-page-1/#comment-23201</link>
		<dc:creator>Mary Saunders</dc:creator>
		<pubDate>Sun, 19 Feb 2012 00:26:19 +0000</pubDate>
		<guid isPermaLink="false">http://etfdailynews.com/?p=50355#comment-23201</guid>
		<description>Amory Lovins is intimating that efficiency is being initiated in the U.S., for business reasons, at a faster clip than would ever be reported in the usual places.  

If I stop to think about this, it does make sense.  The U.S. government has the FBI off taking video of peace groups while BP, supposedly on probation for criminal negligence, is being neglected by what should be its parole officers.  

Given that pipes blow up all the time, going reported only in the local press where the blows happen, how could it be expected that the U.S. government would be tracking or care about energy use?  

I&#039;m not trying to be impertinent here, I am truly curious about where substantive issues would actually be reported and talked about.</description>
		<content:encoded><![CDATA[<p>Amory Lovins is intimating that efficiency is being initiated in the U.S., for business reasons, at a faster clip than would ever be reported in the usual places.  </p>
<p>If I stop to think about this, it does make sense.  The U.S. government has the FBI off taking video of peace groups while BP, supposedly on probation for criminal negligence, is being neglected by what should be its parole officers.  </p>
<p>Given that pipes blow up all the time, going reported only in the local press where the blows happen, how could it be expected that the U.S. government would be tracking or care about energy use?  </p>
<p>I&#8217;m not trying to be impertinent here, I am truly curious about where substantive issues would actually be reported and talked about.</p>
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		<title>Comment on Overpriced Sprott Physical Silver ETF Is A Negative Portent For Silver’s Price (SLV, PSLV, GLD, AGQ, ZSL, CEF) by matt Cusumano</title>
		<link>http://etfdailynews.com/2011/12/26/overpriced-sprott-physical-silver-etf-is-a-negative-portent-for-silver%e2%80%99s-price-slv-pslv-gld-agq-zsl-cef/comment-page-1/#comment-23190</link>
		<dc:creator>matt Cusumano</dc:creator>
		<pubDate>Sat, 18 Feb 2012 06:44:37 +0000</pubDate>
		<guid isPermaLink="false">http://etfdailynews.com/?p=46689#comment-23190</guid>
		<description>I found this article to be biased and misinformed.  I found better sense in the comment section than in the article.  The primary argument of this article, that Erick Sprott is somehow &quot;ripping everyone off&quot; and &quot;a fraud&quot; because his fund trades at a premium above the NAV is preposterous.  The Author himself shows his ignorance of this subject when he admits that he doesn&#039;t know why the stock trades at a premium.  Do more research before writing such drivel.</description>
		<content:encoded><![CDATA[<p>I found this article to be biased and misinformed.  I found better sense in the comment section than in the article.  The primary argument of this article, that Erick Sprott is somehow &#8220;ripping everyone off&#8221; and &#8220;a fraud&#8221; because his fund trades at a premium above the NAV is preposterous.  The Author himself shows his ignorance of this subject when he admits that he doesn&#8217;t know why the stock trades at a premium.  Do more research before writing such drivel.</p>
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		<title>Comment on Gold Prices: Central Bank Gold-Buying Increases By 500% (GLD, GDX, SLV, GG, ABX, GG, KGC, AUY) by Lorinho</title>
		<link>http://etfdailynews.com/2012/02/17/gold-prices-central-bank-gold-buying-increases-by-500-gld-gdx-slv-gg-abx-gg-kgc-auy/comment-page-1/#comment-23181</link>
		<dc:creator>Lorinho</dc:creator>
		<pubDate>Sat, 18 Feb 2012 01:12:50 +0000</pubDate>
		<guid isPermaLink="false">http://etfdailynews.com/?p=50549#comment-23181</guid>
		<description>The dollar is simply backed by atomic weapons.</description>
		<content:encoded><![CDATA[<p>The dollar is simply backed by atomic weapons.</p>
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		<title>Comment on Reality Check: Who Is Still Buying Gold? (GLD, IAU, GDX, SGOL, AGOL) by The Best Commodity Stories From Around The Web &#124; Commodity HQ</title>
		<link>http://etfdailynews.com/2012/02/17/reality-check-who-is-still-buying-gold-gld-iau-gdx-sgol-agol/comment-page-1/#comment-23173</link>
		<dc:creator>The Best Commodity Stories From Around The Web &#124; Commodity HQ</dc:creator>
		<pubDate>Fri, 17 Feb 2012 16:14:11 +0000</pubDate>
		<guid isPermaLink="false">http://etfdailynews.com/?p=50491#comment-23173</guid>
		<description>[...] Reality Check: Who Is Still Buying Gold? at Emerging Money: [...]</description>
		<content:encoded><![CDATA[<p>[...] Reality Check: Who Is Still Buying Gold? at Emerging Money: [...]</p>
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		<title>Comment on Why I’m Taking Gold Double-Eagles On My Next Trip To Utah (GLD, IAU, UUP, FXY, CYB) by Economics and Investing: - SurvivalBlog.com</title>
		<link>http://etfdailynews.com/2012/02/14/why-im-taking-gold-double-eagles-on-my-next-trip-to-utah-gld-iau-uup-fxy-cyb/comment-page-1/#comment-23153</link>
		<dc:creator>Economics and Investing: - SurvivalBlog.com</dc:creator>
		<pubDate>Thu, 16 Feb 2012 22:48:26 +0000</pubDate>
		<guid isPermaLink="false">http://etfdailynews.com/?p=49853#comment-23153</guid>
		<description>[...] Why I&#8217;m Taking Gold Double-Eagles On My Next Trip To Utah [...]</description>
		<content:encoded><![CDATA[<p>[...] Why I&rsquo;m Taking Gold Double-Eagles On My Next Trip To Utah [...]</p>
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		<title>Comment on Warren Buffett’s Latest Insurance Con (GLD, SLV, IAU, UUP, UDN) by Carl</title>
		<link>http://etfdailynews.com/2012/02/15/warren-buffetts-latest-insurance-con-gld-slv-iau-uup-udn/comment-page-1/#comment-23149</link>
		<dc:creator>Carl</dc:creator>
		<pubDate>Thu, 16 Feb 2012 21:03:35 +0000</pubDate>
		<guid isPermaLink="false">http://etfdailynews.com/?p=50312#comment-23149</guid>
		<description>&lt;a href=&quot;#comment-23108&quot; rel=&quot;nofollow&quot;&gt;@Jack Bittner&lt;/a&gt; 
&quot;It’s cost of acquiring will go up and down but you will only own exactly what you buy.&quot;

Precisely.</description>
		<content:encoded><![CDATA[<p><a href="#comment-23108" rel="nofollow">@Jack Bittner</a><br />
&#8220;It’s cost of acquiring will go up and down but you will only own exactly what you buy.&#8221;</p>
<p>Precisely.</p>
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		<title>Comment on Proof Of U.S. Greater Depression (SLV, GLD, SDS, FAZ, AGQ) by Brett</title>
		<link>http://etfdailynews.com/2012/02/16/proof-of-u-s-greater-depression-slv-gld-sds-faz-agq/comment-page-1/#comment-23147</link>
		<dc:creator>Brett</dc:creator>
		<pubDate>Thu, 16 Feb 2012 19:05:37 +0000</pubDate>
		<guid isPermaLink="false">http://etfdailynews.com/?p=50355#comment-23147</guid>
		<description>*yawn* Another gold bug.</description>
		<content:encoded><![CDATA[<p>*yawn* Another gold bug.</p>
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		<title>Comment on Proof Of U.S. Greater Depression (SLV, GLD, SDS, FAZ, AGQ) by Bob A.</title>
		<link>http://etfdailynews.com/2012/02/16/proof-of-u-s-greater-depression-slv-gld-sds-faz-agq/comment-page-1/#comment-23144</link>
		<dc:creator>Bob A.</dc:creator>
		<pubDate>Thu, 16 Feb 2012 17:45:38 +0000</pubDate>
		<guid isPermaLink="false">http://etfdailynews.com/?p=50355#comment-23144</guid>
		<description>It looks like the energy usage is down through August 2010, your sited data. Weren&#039;t we still in a pretty bad state economically at that point.  And manufacturing jobs had not recovered hardly at all.  Our manufacturing production was still way down, thus the low electric consumption.  I would expect to see oil usage and cost continue to decline as more alternate sources come online, like natural gas for trucks and power generation.  Currently the winter of 2011-12 has been very warm for most of the US, so there&#039;s less usage for heat and probably extra capacity for refiners and thus the oil exports.  It all makes sense to me, without indicating poor economic growth.  In fact, if North America can figure out how to move away from oil faster, then industry should benefit from the cost saving and actually start to show some growth without any more govt. subsidies.</description>
		<content:encoded><![CDATA[<p>It looks like the energy usage is down through August 2010, your sited data. Weren&#8217;t we still in a pretty bad state economically at that point.  And manufacturing jobs had not recovered hardly at all.  Our manufacturing production was still way down, thus the low electric consumption.  I would expect to see oil usage and cost continue to decline as more alternate sources come online, like natural gas for trucks and power generation.  Currently the winter of 2011-12 has been very warm for most of the US, so there&#8217;s less usage for heat and probably extra capacity for refiners and thus the oil exports.  It all makes sense to me, without indicating poor economic growth.  In fact, if North America can figure out how to move away from oil faster, then industry should benefit from the cost saving and actually start to show some growth without any more govt. subsidies.</p>
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		<title>Comment on The Crisis In Greece Should Be A Major Warning Sign For World Financial Markets (XLF, SKF, VGK, EWI, EWG) by Lord Enki</title>
		<link>http://etfdailynews.com/2012/02/15/when-the-recession-will-resume/comment-page-1/#comment-23141</link>
		<dc:creator>Lord Enki</dc:creator>
		<pubDate>Thu, 16 Feb 2012 17:06:06 +0000</pubDate>
		<guid isPermaLink="false">http://etfdailynews.com/?p=49292#comment-23141</guid>
		<description>It does not take an economics brain child to see the course that has been laid out the money system has reached it&#039;s end and has out lived it&#039;s usefulness. Time to move on to the next paradigm.</description>
		<content:encoded><![CDATA[<p>It does not take an economics brain child to see the course that has been laid out the money system has reached it&#8217;s end and has out lived it&#8217;s usefulness. Time to move on to the next paradigm.</p>
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		<title>Comment on Warren Buffett’s Latest Insurance Con (GLD, SLV, IAU, UUP, UDN) by Jack Bittner</title>
		<link>http://etfdailynews.com/2012/02/15/warren-buffetts-latest-insurance-con-gld-slv-iau-uup-udn/comment-page-1/#comment-23108</link>
		<dc:creator>Jack Bittner</dc:creator>
		<pubDate>Thu, 16 Feb 2012 02:49:13 +0000</pubDate>
		<guid isPermaLink="false">http://etfdailynews.com/?p=50312#comment-23108</guid>
		<description>Dominique - 2 things
1 - How does your record compare to his?
2 - He was the one lending $$ to those companies getting TARP money (GE, Goldman) and making money off of them.

Read his article in FULL.  The money you in gold will not return or grow.  It will only own that particular amount of gold.  Never more, never less.  It&#039;s cost of acquiring will go up and down but you will only own exactly what you buy.</description>
		<content:encoded><![CDATA[<p>Dominique &#8211; 2 things<br />
1 &#8211; How does your record compare to his?<br />
2 &#8211; He was the one lending $$ to those companies getting TARP money (GE, Goldman) and making money off of them.</p>
<p>Read his article in FULL.  The money you in gold will not return or grow.  It will only own that particular amount of gold.  Never more, never less.  It&#8217;s cost of acquiring will go up and down but you will only own exactly what you buy.</p>
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		<title>Comment on America&#8217;s Addiction To Debt: 30 Facts About Debt In America That Will Blow Your Mind (XLF, FAZ, SKF, TZA, UUP) by Tom</title>
		<link>http://etfdailynews.com/2012/02/09/americas-addiction-to-debt-30-facts-about-debt-in-america-that-will-blow-your-mind-xlf-faz-skf-tza-uup/comment-page-1/#comment-23104</link>
		<dc:creator>Tom</dc:creator>
		<pubDate>Thu, 16 Feb 2012 01:11:49 +0000</pubDate>
		<guid isPermaLink="false">http://etfdailynews.com/?p=49899#comment-23104</guid>
		<description>Due to loss of work, my wife and I had to file for bankruptcy in 2010, and that was partially to stave off a foreclosure on our home.  Eventually, our house sold at foreclosure in 2011, but we used legal tactics to stall the eviction.  We wore them out and they finally gave us $8K to move out, even after the court awarded them our eviction!

But years before that, I beat the credit card companies at their own game.  Here&#039;s how.  

Remember all those 0% balance transfer deals years ago?  Of course they wanted you to load up the cards with existing debt to the max with the 0% deal, but over the course of several months, I systematically transferred the debt from each card to others, leaving the balance at 0.  Then I transferred money from the other cards back to that card at 0%, filled to the brim.

After several months, about 80% of our $50K in CC debt was at 0%, so of the ~$1,200 - $1,300 per month in CC payments, only about $100 was interest and the rest was principal reduction!  And all the other cards had interest rates between 3% - 12%.  This went on for a couple of years.  I could feel them squirming!  I also routinely called them to push them to reduce the existing rates, which worked quite a few times.

Then, as we all know, they started raising the rates to 30% without any recourse, so I opted out and closed the cards and kept paying for a while since my existing rates were so low.  But again, loss of work forced us into bankruptcy.  Luckily, we had previously refinanced our home a few times to pull out the equity and even had a $200K HELOC, so although our home was underwater at the time of BK, we had taken our equity before.

We considered our bankruptcy and foreclosure to be a &#039;strategic default&#039; and we ended up f&#039;ing the banks for around $900K, plus around $80K in CC debt.  F*ck the banksters!  We have zero remorse for doing this.  To the contrary, we laughed our asses off repeatedly and lived mortgage free for almost 2 years!  

It&#039;s war against the banksters and that was the only way we could stick it to them.  I encourage others to do the same.  Moral obligations/considerations are off the table under the current circumstances.  There is no bad karma for screwing cheaters who cheated you.</description>
		<content:encoded><![CDATA[<p>Due to loss of work, my wife and I had to file for bankruptcy in 2010, and that was partially to stave off a foreclosure on our home.  Eventually, our house sold at foreclosure in 2011, but we used legal tactics to stall the eviction.  We wore them out and they finally gave us $8K to move out, even after the court awarded them our eviction!</p>
<p>But years before that, I beat the credit card companies at their own game.  Here&#8217;s how.  </p>
<p>Remember all those 0% balance transfer deals years ago?  Of course they wanted you to load up the cards with existing debt to the max with the 0% deal, but over the course of several months, I systematically transferred the debt from each card to others, leaving the balance at 0.  Then I transferred money from the other cards back to that card at 0%, filled to the brim.</p>
<p>After several months, about 80% of our $50K in CC debt was at 0%, so of the ~$1,200 &#8211; $1,300 per month in CC payments, only about $100 was interest and the rest was principal reduction!  And all the other cards had interest rates between 3% &#8211; 12%.  This went on for a couple of years.  I could feel them squirming!  I also routinely called them to push them to reduce the existing rates, which worked quite a few times.</p>
<p>Then, as we all know, they started raising the rates to 30% without any recourse, so I opted out and closed the cards and kept paying for a while since my existing rates were so low.  But again, loss of work forced us into bankruptcy.  Luckily, we had previously refinanced our home a few times to pull out the equity and even had a $200K HELOC, so although our home was underwater at the time of BK, we had taken our equity before.</p>
<p>We considered our bankruptcy and foreclosure to be a &#8216;strategic default&#8217; and we ended up f&#8217;ing the banks for around $900K, plus around $80K in CC debt.  F*ck the banksters!  We have zero remorse for doing this.  To the contrary, we laughed our asses off repeatedly and lived mortgage free for almost 2 years!  </p>
<p>It&#8217;s war against the banksters and that was the only way we could stick it to them.  I encourage others to do the same.  Moral obligations/considerations are off the table under the current circumstances.  There is no bad karma for screwing cheaters who cheated you.</p>
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