Oil prices crash 20-30% on collapse of OPEC/Non-OPEC deal, declining demand

[oil pan 4]

I have a 500 gallon propane tank I could convert to diesel

[redpoint5]

This doesn't bode well. The financial crisis of 2008 involved an economic decrease of 3%, and we're talking a 20% drop in oil consumption? That's a proxy for the economy, so we're talking a drop in economic output of 20%. That alone will kill many people.

[oil pan 4]

Get your money ready stuff is going to get cheap.
I have been waiting for this since the last one.
Platinum is headed for a 20 year low. The only way you can lose money on a super rare element like platinum at a 20 year low is if you lose it.

[Xist]

What is this "Money" that you speak of?

[redpoint5]

Originally Posted by oil pan 4

Get your money ready stuff is going to get cheap.
I have been waiting for this since the last one.
Platinum is headed for a 20 year low. The only way you can lose money on a super rare element like platinum at a 20 year low is if you lose it.

I have been wondering when the opportune time to spend money would be. A prepared person stands to profit regardless of which way the winds are blowing.

That said, I'm prepared to take a momentary loss on the rental property since it's probably the right thing to do.

I do like the properties of platinum. You've piqued my interest even though I generally don't have an interest in hoarding commodities as an investment.

[oil pan 4]

Buying a few ounces isn't hoarding. The institutions that buy thousands and tends of thousands of ounces in hopes of taking advantage of minor price fluctuations are hoarding.
Silver is also down to maybe a 5 year low.

[redpoint5]

Originally Posted by oil pan 4

Buying a few ounces isn't hoarding. The institutions that buy thousands and tends of thousands of ounces in hopes of taking advantage of minor price fluctuations are hoarding.
Silver is also down to maybe a 5 year low.

Hoarding- a stock or store of money or valued objects, typically one that is secret or carefully guarded.

My point is that an investment should do something to grow the economy by being utilized by others, not just sit idle in a safe somewhere. The quantity wasn't what I have an issue with.

[oil pan 4]

It could grow the economy. If you sell your hordes during a shortage, there you go, economy grown.

Each ounce of Pt is potentially 4 to 5 vehicle catalytic converters or one fuel cell for a retarded fuel cell vehicle.

[redpoint5]

Originally Posted by oil pan 4

Buying a few ounces isn't hoarding. The institutions that buy thousands and tends of thousands of ounces in hopes of taking advantage of minor price fluctuations are hoarding.
Silver is also down to maybe a 5 year low.

Not the same effect. I don't like investing in commodities for the same reason that I don't like investing in the stock market; it's a zero sum game. For me to profit, it had to come at the expense of someone else.

My preferred investment would probably be real estate.

[oil pan 4]

Hopefully precious metals will be how I get more real estate.
The rental house is only worth like $30,000 but makes around $7,000 per year.
Get all my money doing that every year I won't need a regular job.
By comparison my 401k and guberment TSP both have about 30,000 each in them, typically I make 3% to 10%, in a great year I make 12% to 15%.
With real estate my worst year it still made between 15 and 20%.