Tuesday, July 16, 2013

Concerns for dinarians

Hi John,

I wrote the following as a comment on a post from Omega2 on Recaps, and Recaps censored it out. I have concern that innocent, naive Christians who are holding dinar may be taken to the cleaners by banking scoundrels. If you want to publish this comment, I would appreciate it, but please withhold anything that would identify me directly.

Thanks


I am not sure I know who Omega2 is, and am always a little cautious in receiving information the source of which is cloudy.

I did not listen to this call and probably won't. I was uncomfortable with what this person wrote as directives what to do after the RV.

Dear Fellow Dinarians: LOTS OF PEOPLE ARE GOING TO BE TRYING TO SELL YOU LOTS OF STUFF.

Not all of it will be good. The idea of having all of your precious funds in a brokerage account is troubling to me. If it's there you might be tempted to make a few trades, entering some stock positions based on something you read in the paper, a "hot tip" or whatever.

My advice to you: DON'T.

Brokers make $$$ on you when you ENTER a position, and when you EXIT a position. Whether you have made or lost money, they have made it. They are not there to help you. They are there to collect fees (yes, some brokers CAN and WILL help you, but always remember that even they are in the business to make money for themselves).

I am writing from experience. A few years ago my husband and I had funds in a brokerage account and we dabbled in options, and in day trading index futures based on a system. Overall I am glad we did it; it was a good education. But we paid dearly for that education: yes, in LOSSES.

This time around, we will gladly invite professionals to advise us how to grow our wealth. If you PAY for financial advice, you know precisely what it is costing you. If you accept financial advice as part of a service, you should realize they are not charging you because they are going to be making money off of your money, and that is sometimes money you might have made yourself.

We all love the gurus, and love the advice we get on Recaps. But most of us are Christians, and we understand (or should, right?) stewardship. Read Luke 19 and Matthew 25 just to remind yourself how the Lord evaluates stewards. Most of us have been taught to read those passages as if they were about gifts or abilities or something, but JESUS WAS TALKING ABOUT MONEY. He cares what we do with it--and I'm not just referring to giving (as an aside, did you know the first time an offering was taken from God's people it was used by Aaron to forge the golden calf in the wilderness?), but to investing, building blessing structures, and being wise as serpents when accepting counsel.

If we understand true Biblical stewardship--which is responsibility of the sort Joseph had--we must carefully filter advice given to us--even here on Recaps. And please filter what I have written! We must learn to think for ourselves. Some time ago Americans stopped doing that, and look where it has gotten us.

I hope this ride is soon over. I hope you are blessed exceedingly abundantly above all you have asked our thought. And after the blessing comes, I hope you will not allow yourselves to be led astray, but will be like the good steward in Matthew 25 and in Luke 19. Study to show yourselves approved! Blessings!

--

It was for freedom that Christ set us free; therefore keep standing firm and do not be subject again to a yoke of slavery. 
...You were called to freedom, brethren; only do not turn your freedom into an opportunity for the flesh, but through love serve one another...


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