Jump to content


Photo

Gold


  • Please log in to reply
11379 replies to this topic

#11176 Errol

Errol

    I live on HPC!

  • Members
  • PipPipPipPipPipPipPip
  • 9,890 posts

Posted 06 November 2011 - 11:12 AM

G-20 Demands German Gold To Keep Eurozone Intact; German Central Bank Tells G-20 Where To Stick It

Going back to the annals of brokeback Europe, we learn that gold after all is money, after the G-20 demanded that EFSF (of €1 trillion "stability fund" yet can't raise €3 billion fame) be backstopped by none other than German gold

http://www.zerohedge...-where-stick-it

Want to get paid for polls? Try YouGov


#11177 Errol

Errol

    I live on HPC!

  • Members
  • PipPipPipPipPipPipPip
  • 9,890 posts

Posted 12 November 2011 - 01:05 PM


Want to get paid for polls? Try YouGov


#11178 Errol

Errol

    I live on HPC!

  • Members
  • PipPipPipPipPipPipPip
  • 9,890 posts

Posted 19 November 2011 - 12:45 PM

Eric Sprott talks to James Turk in Munich - James Turk: gold price will go above $11,000


Want to get paid for polls? Try YouGov


#11179 GeordieAndy

GeordieAndy

    HPC Regular

  • Members
  • PipPipPip
  • 508 posts

Posted 19 November 2011 - 05:31 PM

Thanks for the videos.

I am looking to convert some savings into gold / silver sometime soon but think there might be another leg down by those manipulating the market next week. £20+/- per sovereign isn't much in the grand scheme of things but I would hate to buy and have the metal(s) worth less than i bought them for by the time they get delivered!

Any thoughts on the split I should go for between silver / gold? Currently have a 2:1 gold to silver and favour paying the premium for sovereigns to avoid the CGT in the future :unsure:

Edited by GeordieAndy, 19 November 2011 - 05:32 PM.


#11180 pepactonius

pepactonius

    HPC Poster

  • Members
  • PipPip
  • 140 posts
  • Location:not in pepacton

Posted 20 November 2011 - 07:28 PM

...
Any thoughts on the split I should go for between silver / gold? Currently have a 2:1 gold to silver and favour paying the premium for sovereigns to avoid the CGT in the future :unsure:


I guess it depends on how much you're getting. If you plan to convert 100,000+ Pounds UK into PMs, gold is a whole lot less bulky than silver, and easier to store in a safety deposit box or hide somewhere. Of course, gold may have a higher risk of government confiscation in the future.

#11181 GeordieAndy

GeordieAndy

    HPC Regular

  • Members
  • PipPipPip
  • 508 posts

Posted 20 November 2011 - 07:56 PM

I have a lot less to invest than that :lol:

I see silver as the more speculative of the two and a way to hopefully generate more funds to convert to gold at a later date but by the time silver has doubled from today's prices there might not be any gold left to convert too!

#11182 Errol

Errol

    I live on HPC!

  • Members
  • PipPipPipPipPipPipPip
  • 9,890 posts

Posted 23 November 2011 - 08:03 PM

Some interesting gold/economy charts. Provided as is - not trying to start an argument. Make of them what you will (I like the last 3 in particular).

Taken from http://www.zerohedge...nswer-investors

Posted Image

Posted Image

Posted Image

Posted Image

Posted Image

Posted Image

Posted Image

Posted Image

Posted Image

Posted Image

Want to get paid for polls? Try YouGov


#11183 Errol

Errol

    I live on HPC!

  • Members
  • PipPipPipPipPipPipPip
  • 9,890 posts

Posted 26 November 2011 - 08:34 AM

Venezuela Gets First Shipment Of Physical Gold Today

Bloomberg has reported that Venezuela will receive the first shipment of gold reserves being repatriated from U.S., Canadian and European banks today. "Chavez, speaking on state television, said that the bars will be escorted to vaults in Venezuela s central bank by the military after arriving by air to the South American country. The gold that was over there in England will soon be arriving, said Chavez"

http://www.zerohedge...ical-gold-today

Edit - also a BBC link: http://www.bbc.co.uk...merica-15900885

Want to get paid for polls? Try YouGov


#11184 scrappycocco

scrappycocco

    HPC Veteran

  • Members
  • PipPipPipPip
  • 2,204 posts

Posted 26 November 2011 - 02:39 PM

Is this fill your boots time or is there some reason gold seems to be falling at the moment?

#11185 GeordieAndy

GeordieAndy

    HPC Regular

  • Members
  • PipPipPip
  • 508 posts

Posted 30 November 2011 - 08:04 PM

Was going to add some sovereigns to the stash today but when I rang Elm they said they had 0 to sell and 0 Krugerrands :o

Either they have been caught out and can't afford to sell today or that was truly the low before the next leg higher :blink:

#11186 jonesinamillion

jonesinamillion

    HPC Poster

  • Members
  • PipPip
  • 173 posts

Posted 06 December 2011 - 11:11 PM

Just wondering why pin this thread? it always finds its way to the top anyway.... just taken me ages to find it :ph34r:

Let little one play with her krugers tonight (she's only one!), she imediately threw one across the room and i subsequently shat myself searching for it amongst her toys and stuff... they'll be staying in the safe for another 17 years from now!

#11187 inspector

inspector

    HPC Poster

  • Members
  • PipPip
  • 266 posts

Posted 07 December 2011 - 07:37 PM

Let little one play with her krugers tonight (she's only one!), she imediately threw one across the room and i subsequently shat myself searching for it amongst her toys and stuff... they'll be staying in the safe for another 17 years from now!


:lol: :lol:

At least you managed to recover that one.Try to imagine what that little girl will throw them at when she is 18 years old.

#11188 Errol

Errol

    I live on HPC!

  • Members
  • PipPipPipPipPipPipPip
  • 9,890 posts

Posted 08 December 2011 - 07:40 PM

LOL! Central Bank manipulation! :ph34r:

MARKET SOURCES REPORT BIS, BOE & FEDERAL RESERVE WERE SELLING GOLD AFTER IT POPPED TO SESSION HIGH AT GMT 1335 -MNI NEWS via BLOOMBERG

http://www.zerohedge...-lower-intraday

Want to get paid for polls? Try YouGov


#11189 Errol

Errol

    I live on HPC!

  • Members
  • PipPipPipPipPipPipPip
  • 9,890 posts

Posted 10 December 2011 - 01:36 PM

Gold is cheap relative to the idea that you could have a life’s fortune on a statement from a clearing agent [your brokerage account] and find out that you don’t have a penny left anywhere. Which should you have had, physical gold or that clearing house statement? Gold is cheap because of the condition of other things

- Jim Sinclair www.jsmineset.com

Want to get paid for polls? Try YouGov


#11190 MrWallace

MrWallace

    HPC Poster

  • Members
  • PipPip
  • 105 posts

Posted 11 December 2011 - 09:34 PM

Right, I'm setting myself to be flamed for writing this but there is a great deal of gold ramping and I feel compelled to write a counter point.

Because of the China and India affect we had a decade of historically low consumer prices, which have led to low interest rates, which have led to high liquidity which have led to high asset prices. It is no coincidence that bonds, stocks, property, commodities and gold have ALL risen against cash during such a period because they have all being driven by the same monetary engine. But that engine is reversing.

We now have the early beginnings of a credit crunch which will drop the prices in number of assets. Look at the US situation: gold, property and stocks all down.

Gold is an asset. It is not money and will never be unless a major government enforces it as legal tender and that's never going to happen. From what I see it's driven by the same evil credit splurge as everything else and will suffer the same fate now the rules are reversing.



I think you're spot on actually, even if all fiat curriences collapsed tomorrow that doesn't mean that gold will become money.

The economic system is just a set of rules that the big players draw up, in the event of the EU and US going under they'd just start again with a different set of rules. Last time the US was on a gold standard was in 1971 and gold was $35 per oz. If they were to draw up a different set of rule I can see no reason why the big powers would choose to draw up a set of rules that say that only gold is money and make South Africa and Indian amoung the richest countries in the world over night.

I can totally understand people saying cash is trash in the long-term and only king in the short term so use your cash to buy assets to protect against inflation, that makes sense. But why not buy a productive asset that produces a yield, like dividend paying shares in a major company with loads of assets, e.g. Shell, BHP Billition, even Microsoft. Even an over valued property is still an asset that produces a yield in the form of a rent.

But buying a lump of metal for over £1,000 per oz and storing that in your house? Doesn't seem the way to go to me.

I think gold is a bubble.




0 user(s) are reading this topic

0 members, 0 guests, 0 anonymous users