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(Las Vegas Sun)   He was just a recluse, with $200 in his bank account when he died. Oh .. and $7 million in gold in his garage   (lasvegassun.com) divider line 41
    More: Unlikely, gold bar, bank accounts, practice of laws, legal history, Carson City Clerk Alan Glover, Arlene Magdanz  
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4258 clicks; posted to Business » on 17 Sep 2012 at 8:33 AM (2 years ago)   |  Favorite    |   share:  Share on Twitter share via Email Share on Facebook   more»



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2012-09-17 08:09:03 AM
goguiltypleasures.files.wordpress.com
 
2012-09-17 08:21:40 AM
Moral of the story: SPEND IT!
 
2012-09-17 08:37:54 AM
Somebody has prematurely released the Ron Paul obituary.
 
2012-09-17 08:57:29 AM
So... the DA seizes it under RICO because it's obviously the proceeds from illegal activities.
 
2012-09-17 09:00:34 AM
Or as we call them today: a man hedged against inflation, eschewing ever more worthless Bernanke Bucks for real money.
 
2012-09-17 09:04:22 AM

Goodfella: Or as we call them today: a man hedged against inflation, eschewing ever more worthless Bernanke Bucks for real money.


And he's still dead. Maybe the INFLATION MONSTER got him WOOOOOOOOOOOOOOOOOOOO!
 
2012-09-17 09:18:50 AM
can't take it with you.
 
2012-09-17 09:18:50 AM
No to sound cold but that's the type of inheritance we dream about: huge sum, distant relative we barely knew, no one to split it with.

/bigass Polish family - would be divided 129 ways even if it was remotely possible to find a relative without a direct heir.
 
2012-09-17 09:19:58 AM
blog.heartland.org
R.I.P.
 
2012-09-17 09:34:28 AM
Will a GOVERNMENT MELTDOWN be ordered?
 
2012-09-17 09:46:36 AM

Goodfella: Or as we call them today: a man hedged against inflation, eschewing ever more worthless Bernanke Bucks for real money.


He died with $7 million in real assets, but apparently had no friends or relatives who thought it unusual that he'd dropped out of sight. If his neighbors hadn't complained about the stench of his decomposing corpse a month after he expired, his hoard might still be safe.

In the words of the evil soshulist John Maynard Keynes:

"Most men love money and security more, and creation and construction less, as they get older."

"The day is not far off when the economic problem will take the back seat where it belongs, and the arena of the heart and the head will be occupied or reoccupied, by our real problems - the problems of life and of human relations, of creation and behaviour and religion."

"Economists set themselves too easy, too useless a task if in tempestuous seasons they can only tell us that when the storm is past the ocean is flat again. The long run is a misleading guide to current affairs. In the long run we are all dead."
 
2012-09-17 11:10:09 AM
Good thing he hoarded it, I mean look at what he can now do with all that money!
 
2012-09-17 11:16:14 AM

Goodfella: Or as we call them today: a man hedged against inflation, eschewing ever more worthless Bernanke Bucks for real money.


$1.00 in 2008 would be about $1.07 today.

The horror! The hooooorrrrooooooorrrrrr!
 
2012-09-17 11:43:00 AM
<b><a href="http://www.fark.com/comments/7331118/79432451#c79432451" target="_blank">Vegan Meat Popsicle</a>:</b> <i>Goodfella: Or as we call them today: a man hedged against inflation, eschewing ever more worthless Bernanke Bucks for real money.

$1.00 in 2008 would be about $1.07 today.

The horror! The hooooorrrrooooooorrrrrr!</i>

Checked gas, food, electricity, health insurance, or education lately?
 
2012-09-17 11:47:22 AM
FTFA:
Using a list of those who attended the mother's funeral, Glover's office tracked down Arlene Magdanz, a first cousin living in San Rafael, Calif.

Magdanz, a substitute teacher, could not be reached for comment. But a lawyer who talked to her said her first reaction was, "Oh, my God. Oh, my God."

She had not talked to Samasko, who died of heart problems, for a year and has no plans for how to spend the unexpected inheritance.


And she shouldn't make any plans to spend any of it, since she won't get any of it. A first cousin is not close enough, and the proceeds of the sale will escheat.
 
2012-09-17 11:53:39 AM

AcneVulgaris: Checked gas, food, electricity, health insurance, or education lately?


Gas was ~$3.70 this time in 2008 (though it was about to take it's 'economy's cratering' dive). Electric is still costing me the exact same per kWh as in 2008, and I'm using even less. Natural gas for heating is actually cheaper than in 2008. Food... I'll admit to not being that sensitive to price hikes (cheap eater), nor have I paid much attention to education. Health insurance rates continue to wildly outpace CPI inflation, but did just have their lowest year-on-year rise in 20 years.
 
2012-09-17 12:01:22 PM

SevenizGud: A first cousin is not close enough, and the proceeds of the sale will escheat.


Maybe it depends on the state, because my lawyer in NY has told me that first cousins can get the estate of someone who dies and has no living children/siblings/spouses/etc. and no will.
 
2012-09-17 12:08:41 PM

Fizpez: No to sound cold but that's the type of inheritance we dream about: huge sum, distant relative we barely knew, no one to split it with.

/bigass Polish family - would be divided 129 ways even if it was remotely possible to find a relative without a direct heir.


Same here (except for the Polish part). I have so much family that I could find out I'm a descendent of Sheldon Adelson, and by the time his estate got split up I'd get $137 and a certificate for a free 6 inch sub from Subway (with purchase of a sandwich of equal or greater value).
 
2012-09-17 12:28:37 PM
If this story took place in a rural area outside of Portland, I would have for sure thought GaryPDX finally kicked the bucket.
 
2012-09-17 12:49:25 PM

SevenizGud: FTFA:
Using a list of those who attended the mother's funeral, Glover's office tracked down Arlene Magdanz, a first cousin living in San Rafael, Calif.

Magdanz, a substitute teacher, could not be reached for comment. But a lawyer who talked to her said her first reaction was, "Oh, my God. Oh, my God."

She had not talked to Samasko, who died of heart problems, for a year and has no plans for how to spend the unexpected inheritance.

And she shouldn't make any plans to spend any of it, since she won't get any of it. A first cousin is not close enough, and the proceeds of the sale will escheat.


Could you point to the law in Nevada hat says that? Cause a quick google search tends to disagree with you.
 
2012-09-17 01:41:20 PM

Lawnchair: AcneVulgaris: Checked gas, food, electricity, health insurance, or education lately?

Gas was ~$3.70 this time in 2008 (though it was about to take it's 'economy's cratering' dive). Electric is still costing me the exact same per kWh as in 2008, and I'm using even less. Natural gas for heating is actually cheaper than in 2008. Food... I'll admit to not being that sensitive to price hikes (cheap eater), nor have I paid much attention to education. Health insurance rates continue to wildly outpace CPI inflation, but did just have their lowest year-on-year rise in 20 years.


Was that supposed to be a retort, or a concession?
 
2012-09-17 01:57:19 PM

AcneVulgaris: Lawnchair: AcneVulgaris: Checked gas, food, electricity, health insurance, or education lately?

Gas was ~$3.70 this time in 2008 (though it was about to take it's 'economy's cratering' dive). Electric is still costing me the exact same per kWh as in 2008, and I'm using even less. Natural gas for heating is actually cheaper than in 2008. Food... I'll admit to not being that sensitive to price hikes (cheap eater), nor have I paid much attention to education. Health insurance rates continue to wildly outpace CPI inflation, but did just have their lowest year-on-year rise in 20 years.

Was that supposed to be a retort, or a concession?


Retort, more or less. My basket of goods is what it is (no higher ed bill and low medical expenses), but my household budget 'monthly cost' hasn't changed a bit since 2007-8. Mortgage is a little lower since refinancing, taxes have been flat, food's very slightly higher, fairly balanced out overall. The inflation rate being sub-2%, in agreement with the CPI estimate, feels pretty believable to me (and I've experienced high inflation rates).
 
2012-09-17 02:18:21 PM
There was only $200 in his bank account. But there was a $7 million surprise at home.

There were so many coins that Carson City Clerk Alan Glover used a wheelbarrow to haul the $5 million in gold to his truck and deposit it for safekeeping. 
 
2012-09-17 03:19:10 PM

AcneVulgaris: Checked gas, food, electricity, health insurance, or education lately?


You're gonna have to be more specific with your derp. I can't tell if you're trying to dishonestly skew the point by intentionally cherry-picking things you believe to have increased faster than the overall average, don't understand how inflation works or if you're just really, really bad at simple math.

Annual inflation was about 7% between 2008 and 2012 and that doesn't magically stop being true just because you cherry-pick a few CPI baskets in a pointless attempt to lie about verifiable numbers.
 
2012-09-17 03:37:54 PM
cdn.celebritycarsblog.com

Those coins are from all over and might sit on my shelf for months, so I'll give you $3.5 million for the lot. There has to be room for me to make a profit!
 
2012-09-17 03:55:48 PM

StrikitRich: Those coins are from all over and might sit on my shelf for months, so I'll give you $3.5 million for the lot. There has to be room for me to make a profit!


Such a fitting handle my friend.
 
2012-09-17 04:02:10 PM
Wow that distant cousin that is the sub looks like she will have a nice time after taxes.
 
2012-09-17 04:03:04 PM
and even in death he found himself just covered in 'friends'. he never knew he was so popular.
 
2012-09-17 04:03:48 PM

BalugaJoe: can't take it with you.



if you stick it up your butt you can.
 
2012-09-17 04:04:29 PM

Pants full of macaroni!!: Will a GOVERNMENT MELTDOWN be ordered?



no, the lawyers and banks will take care of that problem.
 
2012-09-17 04:06:20 PM
Uncle Walter! Damn, I lost track of you, Uncle Walter, I'll be there to take care of the estate this week.
 
2012-09-17 07:40:31 PM
I know this is a repeat of a repeat of a repeat article but why is it "unlikely"? My uncle didn't really use banks at all either and had couple hundred thousand or so in gold and gems in his rental (Had rented the same house for like 40 years) so he could avoid paying taxes or some such crazy nonsense. Point is, some people are odd and want to stay off the radar and gold is a good way to store currency.

I suspect my aunt's and mom didn't even find all of it. I wouldn't be surprised if the bigger cache was buried in the yard.
 
2012-09-17 08:22:17 PM

Parthenogenetic: Goodfella: Or as we call them today: a man hedged against inflation, eschewing ever more worthless Bernanke Bucks for real money.

He died with $7 million in real assets, but apparently had no friends or relatives who thought it unusual that he'd dropped out of sight. If his neighbors hadn't complained about the stench of his decomposing corpse a month after he expired, his hoard might still be safe.

In the words of the evil soshulist John Maynard Keynes:

"Most men love money and security more, and creation and construction less, as they get older."

"The day is not far off when the economic problem will take the back seat where it belongs, and the arena of the heart and the head will be occupied or reoccupied, by our real problems - the problems of life and of human relations, of creation and behaviour and religion."

"Economists set themselves too easy, too useless a task if in tempestuous seasons they can only tell us that when the storm is past the ocean is flat again. The long run is a misleading guide to current affairs. In the long run we are all dead."


i don't know what the fark that all means. but one thing i seen happen many times when guys get to a certain age of old. it seems they realize they aren't going to live forever, and they get pissed off. and they cut down almost every nice tree and shrubbery on their property. i've seen this happen many times. sad every time. my 2 cents.
 
2012-09-17 08:37:33 PM
This is the kind of shiat that shiatheads dream of when they go out in the boonies and break into some old hermit's house. Expect a jump in reports of old farts saying that they've either been broken into, or have actually been invaded by people looking for their riches. Because every thief knows that old farts are like leprechauns that way.


Lawnchair: AcneVulgaris: Lawnchair:
Gas was ~$3.70 this time in 2008 (though it was about to take it's 'economy's cratering' dive). Electric is still costing me the exact same per kWh as in 2008, and I'm using even less. Natural gas for heating is actually cheaper than in 2008. Food... I'll admit to not being that sensitive to price hikes (cheap eater), nor have I paid much attention to education. Health insurance rates continue to wildly outpace CPI inflation, but did just have their lowest year-on-year rise in 20 years.
Was that supposed to be a retort, or a concession?
Retort, more or less. My basket of goods is what it is (no higher ed bill and low medical expenses), but my household budget 'monthly cost' hasn't changed a bit since 2007-8. Mortgage is a little lower since refinancing, taxes have been flat, food's very slightly higher, fairly balanced out overall. The inflation rate being sub-2%, in agreement with the CPI estimate, feels pretty believable to me (and I've experienced high inflation rates).


Damn, man, is this you?

www.propertycasualty360.com
 
2012-09-17 09:27:14 PM
THAT'S THE WOW FACTOR RIGHT THERE!
 
2012-09-17 09:41:41 PM
itt: muppets
 
2012-09-17 10:15:35 PM
...and $165,000 in brokerage accounts. But hey, "only $200 in one of his several accounts" doesn't have the same kick, does it?

//and a chunk in offshore accounts that hasn't turned up yet, as well as more gold still buried in the backyard/hidden in the walls/etc...
 
2012-09-17 10:19:21 PM

cryinoutloud: Damn, man, is this you?


Not so far off. I find doing taxes (at least my own) fairly enjoyable, sad as that may be.
 
2012-09-17 11:07:56 PM
CSB:

My great uncle is a snowbird (winters in Arizona, summers in Michigan). His AZ property is in a retiree trailer park. One of the neighbor geezers died and his daughter didn't want the trailer, so my uncle bought it off her for a steal. One day he's putting in new cabinets and as he tears out the old ones, there's stacks and stacks and stacks of silver coins that the departed geezer had apparently squirrelled away. IIRC, about $30 grand worth. Not quite as sexy as a garage full of gold, but anyway...

My great uncle is an alright guy, but he considered the silver to be his fair and square and never gave a thought to giving it to the dead geezer's daughter. Which is cool and all, I suppose, but I have to wonder if the decedent had ever told him about the silver while he was still living. I still think he should've given at least SOME of that to the daughter. I'm soshulist like that.

/CSB
 
2012-09-18 04:30:03 AM

Vegan Meat Popsicle: Goodfella: Or as we call them today: a man hedged against inflation, eschewing ever more worthless Bernanke Bucks for real money.

$1.00 in 2008 would be about $1.07 today.

The horror! The hooooorrrrooooooorrrrrr!


Dont try to confuse him. He had an econ teacher in high school who promised him printing money is always inflationary.

/ printing money in a vacuum is inflationary. The economy is not a vacuum. In MOST cases NOT increasing the money supply is detrimental to your economy.
// I wonder what gold would be worth without all the gold companies hyping it all the time? Gold's value is every bit as subjective as paper money, its just another currency.
 
2012-09-18 10:47:32 AM

AcneVulgaris: Lawnchair: AcneVulgaris: Checked gas, food, electricity, health insurance, or education lately?

Gas was ~$3.70 this time in 2008 (though it was about to take it's 'economy's cratering' dive). Electric is still costing me the exact same per kWh as in 2008, and I'm using even less. Natural gas for heating is actually cheaper than in 2008. Food... I'll admit to not being that sensitive to price hikes (cheap eater), nor have I paid much attention to education. Health insurance rates continue to wildly outpace CPI inflation, but did just have their lowest year-on-year rise in 20 years.

Was that supposed to be a retort, or a concession?


Not sure if:
A) stupid
B) troll
C) lacking basic reading comprehension
D) Ron Paul supporter
E) all of the above
 
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