Wall St Vet Just Woke Up

Discussion in 'Introductions' started by wallstwench, Jan 22, 2011.

  1. wallstwench

    wallstwench Active Member

    For fear of losing the job I despise, I would prefer not to use my real name. You can just call me “Wench.”

    I have worked on Wall St for nearly two decades and it used to be something I was proud of. The past few years I realized I didn’t like the person I had to be in order to survive in it. The more soul searching I did, the more truth I uncovered and I’m absolutely disgusted with the people I have to deal with and the scams this industry plays on the hard working citizens of this and many other countries. So now what?

    I’ve been advising my friends and family to pull their money out of the market or retirement funds and what not for about 6 months now. I’m really lucky most of them trust the crazy things that come out of my mouth. I wouldn’t believe it had I not uncovered the facts with my own eyes. As I try and protect those I love from what’s inevitably headed our way, I often feel lost as to what to do for myself. I didn’t save enough money. I own land in a foreign country, have about 3-6 months worth of food stocked up at my apt in Manhattan, and no debt, but no money either. I don’t what my next step should be and am feeling a bit lost. I’ve been told my whole life that I am an old soul and I feel like I’m supposed to stand up and scream and try and make a difference, but I would lose my job if I did, and then I would be no good to anybody.

    Any wise words of wisdom or advice would be much appreciated.

    W.S. Wench
  2. mdprepper

    mdprepper I sold my soul to The_Blob. He had candy...

    :welcome: to the forums!

  3. *Andi

    *Andi Supporting Member

    Hello & Welcome!

  4. BillM

    BillM BillM

    Gold and Silver

    Welcome !

    I have around 30% of myholdings in gold and silver.

    I have around 400 K in mutual funds.

    Should I cash out of the market completely ?
  5. wallstwench

    wallstwench Active Member

    Cash out

    I have been a stock broker for 17 years. In all of those years I have only told my family once before now that I was nervous and I wanted them to take their money off the table. That was in late 07. When the market crashed in 08 most of their friends lost about 1/2 of their retirement funds. My family still thanks me for having the courage to speak up, and I thank them for listening. About 6 months ago I called them again and said “remember that feeling I had a few years ago?” I told them it was back and this time I didn’t think their money was even safe in a bank. We are heading for “TARP 2.” This will be a municipal bailout but since we don’t have any money, and nobody wanting to finance our reckless spending, they will nationalize every mutual fund, 401k and IRA and whatever else they can get their hands on.” It’s all a scam. The Federal Reserve reported a record year of some $81 billion in profit, that they made by using our tax dollars as a backstop while they reap the rewards. What the public doesn’t even realize is that we are still holding trillions of dollars in toxic assets that they don’t have to acknowledge because they suspended “mark-to-market” so they could continue to magically make profits appear. I’m not sure what your background is, or how much you know about the Fed, but I’ve worked in finance my whole life and can’t believe I just asked someone last year “who owns the Fed.” I asked the smartest people I know and everyone thought “we” did. It’s not a government entity. It’s officials are not elected by the people. It’s a private bank that not only makes the rules as they go, they don’t have to answer to anyone, and they’ve never even been audited. I’m not saying all of this to scare you or anyone. I’m telling you because I’m absolutely disgusted. So, if you are counting on that money, CASH THE F**K OUT. If you need more assistance on how to go about it, ask away.
  6. wallstwench

    wallstwench Active Member


    Where does one even begin? I know I have so much to learn and it scares me that I won’t learn it all in time. I get overwhelmed by how much I don’t know when it comes to being self sufficient that I then do nothing. I have been craving a simpler life for years, but living in a high rise in Manhattan doesn’t allow you much as far as exploring simple self sufficiency. Do I learn how to can or dehydrate food? Do I attempt a garden on my tiny balcony? Do I learn basic survival skills in case I need to flee the city? HELP!!!
  7. *Andi

    *Andi Supporting Member

    The Encyclopedia of Country Living - Carla Emery

    When someone ask me ... Where does one even begin ... I say pick up this book. She covers it all. Give it a look see ... then start with what ever calls to you. ;)
  8. BizzyB

    BizzyB BucketHunter

    Howdy! :flower: Your mind is probably spinning at a bajillion miles a minute. The thing that helped most when I was at that stage was a dayplanner (a notebook will work). Write down what you've learned on any given day, things you need to follow up on tomorrow, lists of things to do, lists of things to get. The power of this is that you don't have to try to keep all these little pieces of information in your brain at once. You've found a good site here. Everyone is friendly and generous with knowlege.
  9. The_Blob

    The_Blob performing monkey

    ITS has been in place for so long and with the NYSE UTP, is there any way to perform your duties "off" Wall St. ? from what I can see, unless you are into equities and purchased office/server space as close to the exchange as possible to take advantage of Low Latency and are doing a 200,000+ trades per second... and if you are then you definitely don't have any money problems because you are a mover & shaker :lolsmash: ... speed doesn't seem as important in futures, foreign exchange and fixed income; it looks like the opposite is true & being too fast could hurt you. Also if you have an aggressive trading style that relies on opportunistic pricing differentials, I guess you would need to be the fastest. If you are a long-only quant fund, you can afford to take it a bit slower.

    yeah, I've dabbled
  10. Moose33

    Moose33 Well-Known Member

    Hi wallstwench,
    With regard to the FED, I agree, it is not good. I'm amazed every single day that our monetary system didn't implode a long time ago. I'm also amazed every day it doesn't. In my world right now Dodd-Frank is an absolute nightmare. :gaah:

    As for getting started, you've got a start, 3 to 6 months of food AND you're here. Keep stocking up regularly. Read stuff, do stuff. Just reading all the posts to this forum will be a great education. Mostly don't panic, that won't do you or your family any good. Maybe if you need a place to start, make sure you have a good inventory of what you have put back. Be sure to include any expiration dates so you can rotate out the oldest first. I haven't been here very long but I really like the "tone" of the forum and it seems there are a lot of good people here.
    Take it easy, :welcome:
  11. Sonnyjim

    Sonnyjim Prepping

    Welcome to the forums. If you are serious about all this then go to your local bookstore and purchase yourself a small library of books. Herbs, Small Scale Gardening, Urban Homesteading, Books on Self Sufficiency. That's where I started. You'd be surprised how much you can learn and practice in just a year or two, you will be amazed. I wish you all the best and there is a lot of experience on the site so ask away in any category you need to. I know I do.
  12. BadgeBunny

    BadgeBunny Well-Known Member

    If you have a way to make a living and can get out of the city then do so NOW. If you aren't able right now then make a financial plan to get yourself out and accomplish that first.

    In answer to your questions"

    1. Check out this website Dehydrate2Store and Excalibur Dehydrators

    There are a TON of books out there on the subject (I think I have read them all in the last couple of months but the three most informative have been this one The Dehydrator Bible and Stocking Up and maybe Mary Bells Complete Dehydrator Cookbook in that order.

    2. There are also a TON of good info on the net about intensive and urban gardening. This is my favorite website right now: GardenGirlTV

    Three good books on the subject: Toolbox for Sustainable City Living, The Urban Homestead and Square Foot Gardening

    You might also check into sprouting and four season harvesting:

    Fres Food Small Spaces and Four Season Harvest Mr. Coleman has a website that is very informative also.

    There are lots of ways to learn survival skills. Look around here. There is a ton of information that can be used in urban settings as well as the more rural settings that some of us live in. There are a ton of books on that subject too but I have only listed books that I have read and are in my personal library. The book *Andi listed is a good place to start for that.

    Don't get overwhelmed with all the info you will come across. You will learn quickly enough how to weed out what you don't need and focus in on what will do you the most good. Welcome to the board.
  13. ajsmith

    ajsmith Well-Known Member

    Welcome to the forum:wave: There's a lot of good people and information here to help you along the way.
  14. bunkerbob

    bunkerbob Supporting Member

    Welcome:welcome: wallstwench from a long time preparer. Look forward to your replies and posts.
  15. HozayBuck

    HozayBuck Well-Known Member

    Where to start... ?

    Welcome to the joint WW, I'm the rabblerouser here bouts, I don't know money, never met the gent, but I have all kinds of advice !! :D... AND!! it's free.

    just from your post I got the feeling that your single.. no kids at home, no debt, your eyes are now open, and you not afraid to speak out...

    So.. why are you still there? you can make a living most anyplace you can plug into the net, hell a lap top in the local Library is free! and quiet, and as a rule safe.. most people get lost on the treadmill of everyday life and can't see a way off..

    Your already a survivor if you've spent 20 years on WS , now your other survival instincts are telling you to get out of Dodge ( GOD) so.. go! get moving!... It really don't take much to relocate to a better place , and if the dollar takes a dump do you really want to be trapped where you are?

    I guess if you really are worried then the first step is to acknowledge that you need to get out of there, you must have some assets and a place you'd love to live.. we all do.. get west of the Mississippi River ! you mentioned family, are they in an area you'd want to live? if so they are a major resource you can count on.. a place to be while you look for where you'd like to spend the rest of your life... if they aren't where you'd want to be then stop off there and use it as a base of operations to anchor you while you search..

    From what I can see and read two states that seem to be doing fine are Oklahoma and Texas so getting into your line of work in an area where things are pretty good shouldn't be a problem... both places are Conservative if that matters to you ,it does to most of us preppers...

    Asking questions is the first step and as the saying goes the journey of a thousand miles begins with that first step..so your journey has begun! are you smiling yet!!???

    none of this helps I'm sure but it may in some way clear the fog so you can see better...

    The further you get away from where your at the better off you will be..

    Don't be afraid to ask questions, one thing we have lots of is advice!! for better or worse!!..

    So.. my thoughts...get out of dodge, move South and West, find a small bit of land you can grow food on, buy LTS foods , learn to shoot, buy some guns, that's a start for today! tomorrow you can start your garden!!! see how much fun this is ? :D

    Welcome !!
  16. backlash

    backlash Well-Known Member

    If you haven't fled the city long before TSHTF it will be way to late.
    Like you told your family.
    Get out NOW.
    Money will not mean much when you are trying to keep from being killed while you try to escape the chaos.
    The further you can get from so called civilization the better.
  17. ComputerGuy

    ComputerGuy Retired Air Force

    I agree with Backlash. Sheltering in place in a skyscraper in the city is impossible. GTFO. Elevators won't work so stairs will become a hazard where around every floor someone will be waiting.

    Sanitation/water will not exist. Odds are against you
  18. PamsPride

    PamsPride edirPsmaP

    If you own land in a foreign country why don't you just move there and work via the internet?
    How long do you think it will be before the next big crash?
  19. IrritatedWithUS

    IrritatedWithUS Well-Known Member


    This post was a real eye opener. :eek:

    I hope you learn a lot on here. I've only been here a little over 2 weeks and I've learned a lot so far.
  20. gypsysue

    gypsysue The wanderer

    Welcome to the forum! Glad to have you with us.

    I agree with the posts above, if you're serious about what you wrote, you should start on a plan to get out of the city. Meanwhile, read as much on this site and others as you can, in your spare time, and you'll find a lot of the answers you're seeking.

    Best wishes!