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Joe Sixpack

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About Joe Sixpack

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  1. Yeah picked up on that too. "Got $1000 for my metric tonne of old scrap 1837 proof sovereigns" who wants gold when you can release it's value into these green paper babies!
  2. Great thread on Kitco gold forum https://www.kitcomm.com/showthread.php?t=12733
  3. On a similar note, I read there is a bank called DTC (Depository Trust Company) which acts as some kind of register of 30 trillion $ or so worth of shares. The owner of all the shares is a subsidiary/nominee called Cede & Co (CeDe stands for certificate depository) which is the actual owner of all the shares. The people that actually purchase the shares are beneficiery owners, not the actual owners. What is really scary is that it is claimed that more shares have been sold by this entity than what have been issued by the respective companies. And more scary is that this entiry is owned by the FED. I wonder wht the FED is so keen to prop up the markets? That's about all I know, but the following links might give some help for anyone wanting to know more. https://portal.dtcc.com/dtcorg/home/page18832.html http://search.dtcc.com/search/?sp_q=cede&a...mp;x=8&y=14 http://ming.tv/flemming2.php/__show_articl...0010-000999.htm Me thinks physical PM's is about the only thing you can buy that you actually own.
  4. Spend it on gold sovereigns mate.
  5. http://www.youtube.com/watch?v=f_Gs8-IVNxU
  6. It's because they are the kind of people that know the price of everything and the value of nothing. They would think the same of fine art. Gold is tactile, heavy, mysterious, thought provoking, desired, represents hardwork, blood, war, history, pain, death, joy, reward. One can observe a piece of gold and wonder: how long ago was it mined?, was it ever carried away in battle?, was it hooked out of someones jaw? did it go down with a sinking ship? how old is it? how many people lost their lives bringing it to me? was this coin a gift to a grandchild?. If gold does not fascinate you or cause you to stop and think, then it is not for you and belongs in somebody elses hands, go to a cashpoint and draw out 20 quid, THAT'S for you!
  7. I fear the worst problem is peoples inability to tell the difference between gold and paper
  8. I've read a fair few articles regarding where the inflation adjusted price for gold should be now, and I have a couple of questions that don't seem to get answered. Although we have seen monetary inflation we have also seen anual increase in the above ground quantity of gold (about 2% p/a). I understand that the growth of the overall economy/population whatever is a similar increase, which supposedly cancels this out so I can let that one go. What I disagree with is the statement "The only way you can increase the amount of gold is to dig more out of the ground". On this forum several people have mentioned spread betting for example, now if there was no such thing as spread betting the same people may buy gold bullion, which would decrease the supply of gold for sale and drive up the price. Therefore spread betting artificially inflates gold and drives down it's value. I read somewhere a similar thing happened when Abe Lincoln introduced the US Greenback into an economy that was using gold as money and subsequently drove down the purchasing power of gold. I guess futures contracts artificially inflate also. So my question is this How much should we downward adjust our inflation adjusted gold price to account for this paper gold? Also, surely gold should follow a supply/demand principle like everything else. My guess is that during 1980 there was a lot less gold available "for sale" as a lot was still contained in the bank reserves, fort knox etc. But today due to central bank sales, there is more gold in private ownership and etfs etc that is for sale and I wondered if this should also be taken into account when determining the correct price of gold for today. If this makes sense, what is the increase of gold in private ownership since say 1980? I suppose that gold reserves do create downward pressure to gold price for the simple reason that there is always the fear that it could get dumped onto the market, so it's existence does indirectly get factored in to the gold price, and so perhaps this is irelevant. Also, any other negative factors I have missed? Oh and another thing. Other than a law that acknowledges artifical inflation of gold is currency debasement and outlaws it, are there any market conditions that we could be hoping for that will force an end to this practice together with it's suppression of the price. My guess is, because these paper contracts are only redeemable in paper currency, a good dose of hyperinflation should fix it. I relly would like an answer to this one as this is what I feel would really boost the price - and perhaps make me hang on a little longer before selling.
  9. I know ATS sell them if thay have them. I really don't think you can avoid the VAT. You can buy bullion/coins from Guernsey Mint without having to pay VAT. The problem is that you get hammered for VAT when you import them, as I found out to my cost. Last time I spoke to them about six months ago they were talking about offering a storage service, where you could pick up/have delivered your silver any time you want. I didn't ask about fees but I am sure for a short while they would not charge at all. So you just need a boat. You could glue kilo bars around the hull and say they are sacrificial anodes.
  10. Hi, just spotted a minor error... pre 1920 are .925 (sterling silver) 1920-1946 are 0.5 silver post 1946 are cheap metal tokens 1947 also cheap metal tokens. I found with pre 1947 coins you get more silver for your money. Bought lots from ebay last year at a cost of typically 90% of the value of silver content. Compared with bars, where you pay a hefty premium over the cost of the silver.
  11. Been working on house prices/POG too! Here's my results so far.... Graph shows average UK house values in terms of number of troy ounces gold (yellow trace). Average house price data used for calculation was taken from the Nationwide national average. Gold price historical data was taken from thebulliondesk.com Historical->PM (£) fix. Each monthly sample taken from the Nationwide data corresponds to the monthly gold price average for the same month for the calculation of each point. House price trace and gold price traces are just for reference and are scaled linearly to have same origin on chart. (Webmaster is interested in publishing HP/POG chart on graphs page so thought it best to post it on the forum to get any criticisms/recommendations etc. all criticism welcome) Oh, and I did notice that three decimal places is not really required on the y axis. I apologise for not having introduced myself before posting, but in case you were wondering, the only sixpack I have is in the fridge!
  12. Thank you, I will copy it to the gold thread. No more replies on this thread please!
  13. Graph shows average UK house values in terms of number of troy ounces gold (yellow trace). Average house price data used for calculation was taken from the Nationwide national average. Gold price historical data was taken from thebulliondesk.com Historical->PM (£) fix. Each monthly sample taken from the Nationwide data corresponds to the monthly gold price average for the same month for the calculation of each point. House price trace and gold price traces are just for reference and are scaled linearly to have same origin on chart. (Webmaster is interested in publishing HP/POG chart on graphs page so thought it best to post it on the forum to get any criticisms/recommendations etc. all criticism welcome) I apologise for not having introduced myself before posting, but in case you were wondering, the only sixpack I have is in the fridge!
  14. Beyond the spectrum of acceptable opinion. Within the spectrum of acceptable opinion. Lively debate within that spectrum.
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