The Phaserl


The Costs of Dragon Maintenance

by Gary Christenson, Deviant Investor:

The next time you:

  • Pay your mortgage, which is mostly interest;
  • Pay your outrageously large auto or student loan;
  • Pay an exorbitant amount for health insurance;
  • Pay an even larger co-pay for a minor hospital procedure;
  • Buy groceries for $100 and compare that purchase to what $100 bought in 1971;
  • Realize that a four person family’s share of the U. S. national debt is nearly one-quarter million dollars …

Consider the costs of fiat paper currencies, deficit spending, central banking and … dragon maintenance.

A long time ago and far, far away outlaws raided a village and stole food, gold and women. The angry villagers could do little to protect their village except pray to their gods.

A large and fearsome dragon descended into the village square answering their prayers. The dragon agreed to protect the village in return for food.

Everyone was afraid of the dragon’s sharp claws and its fiery breath which incinerated those who threatened the dragon or the village. Raiders avoided the village.

The people rejoiced in their new safety but worried the dragon ate too much food.

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1 comment to The Costs of Dragon Maintenance

  • Craig Escaped Detroit

    Yes, it is the wise person who avoids going into debts as much as possible and not falling into the trap of thinking they must have so much debt.

    Cutting down the size of the house that is desired is a small start.

    Buying a used car that can be bought for cash is a good move (but don’t forget to add some monthly ‘set asides’ to maintain that car).

    Student loans? First of all, most degrees are not very useful and certainly cost too much money. Better it would be, to go to a trade school and actually learn a useful trade that is in demand. (and I’m not talking about the “Health care field” because the health care field relies upon HEALTH INSURANCE PREMIUMS being paid. WHEN people don’t have jobs and cannot pay the premiums, then the hospitals, doctors, nurses etc don’t get paid by the insurance companies, etc etc.)

    So I think it’s easy to see a “domino affect” happening right now and gaining momentum as the crash gets deeper, the medical insurance industry will shrink and medical jobs will collapse with it. There are too many people rushing into the medical fields because it has grown so big and fat during these last 30 years, it looks like it will never end. (and that’s exactly when it does.)

    How about HVAC, and many other useful, needed skills & jobs that can be useful in any country?

    When I was doing some quick “research” for a friend who was looking for a house, I went on line, and was digging a bit deeper into “Foreclosed houses” (Bank owned foreclosures), and there are 2 sets of numbers.

    The biggest thing the banks try to do, is tell you “this is the price we will sell it for”, and then, when I searched for “already sold foreclosures” (bids that were accepted), I found that the banks were accepting (in about 10% of all the homes the banks were holding) was a bit under $6 per square foot. Yep, that’s right. It did not matter if the house was 900 sq-ft, or if it was 5,000 sq.ft. About 10% of all the Bank-owned-realestate (REO= real estate owned) was sold to a new buyer for less than $6/sq-ft.

    2000 square foot home? Under $12k. 1000sq-ft home? Under $6k. 5,000 sq-ft home? less than $30k.

    (of course, you’ve got to have the cash ready, but it just goes to show you, that you certainly can find great deals. Yes, in many cases, you’d have to spend another $4-6/sq foot for repairs or code updates, but hey, even with a normal house, you’re gonna have to pay for a new roof, furnace, etc…. often within 10 years of purchase.)

    A good friend of mine, cleverly did this, and played the game extremely well. HERE’s the BIG trick.
    When you buy a bank owned property, the REAL ESTATE taxes do NOT count this as a ‘normal, real sale’…so they slap you with a BIG TAX bill, based upon that “last sale or assessment” of the property BEFORE it was foreclosed!

    My buddy & his wife, bought a $2.1 MILLION dollar home, for just $260k. The property tax bill WOULD have been more than $20k based upon the $2.1 million, and the exclusive area, etc.
    BUT… my buddy “bought the house” took possession of the title in the name of his LLC corporation, and then QUICKLY the LLC SOLD the house to his WIFE in her “normal” name…for exactly $260k.

    That means the new sale, (not from the bank to an owner, but from a NON bank owner to another new owner), makes the $260k price as the REAL, legally recongnized sale….and the tax assessments have to include this $260k price as a real factor in the tax structure.

    His annual tax bill was less than $5k. I’m sure he appealed everything, and got it as low as possible. THAT’s how you beat the system (dragon) at its own game. They later sold it at a nice profit after having lived in it and enjoying it. And yes, they then bought another Bank owned foreclosure (it was a $700k home, and they got it for less than $100k) Did some fixing, living, and then sold it. He had me as a guest, in a couple of the houses they bought.

    Here is another “totally rogue-pirate” home living, avoiding ALL real estate taxes strategy.
    Buy one of those REALLY cheap “tax foreclosures” or other DIRT cheap places. You know…the ones they sell for $2000, or all the way down to $500 or even just ONE DOLLAR? You spend ONLY enough money to move it, don’t bother bringing it fully up to code, and DO NOT PAY the property taxes.

    WHY? Because if you can find one of those $500-$2000 houses, and you live in it for 3 years or more without paying ANY TAXES on it, you will LOSE it when they take it for “back taxes”,…BUT.. you have LIVED in it FOR FREE for 3 years or more. And all it cost you was the $500-$2000 purchase price. (and if you’ve got a “solar trailer”, you just tow it to the next location).
    Then move away and do it again!!!!

    He practices some good “liability protection” by creating an LLC (or even held in an “off shore corporation) for his home, and car, etc, so that if there are any legal problems, he legally does not own anything that can be confiscated by the courts, lawsuits, taxes, etc. In the past, it has actually actually saved him from losing everything. (yes, he’s operated a small, successful business and been used to doing things as a small corporation, etc.) He’s above my pay grade.

    If you are running your own business, then it makes great logical sense, to put everything into an “off shore corporation”, even your car & house. Then, the company can “write off, even the house taxes, car tags, electric bills, etc”. You are living in that house, perhaps as a care-taker, and paying $1/year rent, etc? The end of year (or quarterly taxes) certainly will be more complicated, but it’s 100% legal. (just like it’s legal for TOYOTA, Samsung, etc, to own stuff in the USA, and do business here, but still be “off shore”, and write off all their “on shore” expenses…etc)

    How else can a person “starve the dragon-beast”? (this answer is for “newbies” or idiots).
    GROW A GARDEN!!! raise some chickens or rabbits, quail, etc. Grow mushrooms in a closet, basement or storage space. They sell mushroom kits on Amazon. You can grow 100 pounds of mushrooms in a 3ft X 3ft closet.

    Solar panels are dirt cheap (often less than $0.50 per watt.) Go “off grid” (and to avoid the local inspectors, etc, from making trouble, be sure to do it all UP TO CODE with all the PERMITS, etc.) The people who get into trouble, usually did NOT get the permits and did not construct it up to code. If you MUST be a “code & permit violator”, then you’d best install it onto the roof of an R/V, or make a rack onto a car hauling trailer and mount everything on that, and then just “jumper it” to the house.

    Home inspectors have very little authority over a trailer that is (legally) parked in your driveway or yard. Of course, many areas do NOT allow you to park anything but a car on your property. ALso, many areas restrict what you can grow in your FRONT yard. Don’t be a dick, be smart, be clever. If you want to (illegally) grow food in your front yard, make sure it is something that can legally pass as “landscaping”, or decorative, etc.

    There are all kinds of acceptable & edible landscaping, trees, bushes, etc. Fruit & nut trees, berry bushes, vines, etc. (have you ever heard of a TOMATO TREE? yes, they exist and they live for more than a decade!!!)

    Hopefully, you have already changed all your light bulbs, to CF’s or LED’s? And you do know the difference between Soft White, Bright WHite and Daylight bulbs? (2400 degrees Kevlin… 3500 degrees kelvin & 5000 degrees kelvin?)

    If you really want to be PREPPED in your suburban/city home? and save money? Here is a “tip” that is NOT legal in most jurisdictions. Install your own WATER WELL, but because it’s often an “illegal prep for the crash”, you’ll have to install it, from inside your crawl space, basement, garage, or tool shed where no inspector will see it unless they come inside. Even if the quality is not save to drink, you can STILL use it to FLUSH your toilets and water your garden, lawn, wash the car, etc. (search youtube and google for doing your own well.)

    OK, I hope you got some useful information from some of this. Good Luck.

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