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DiggerUK

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About DiggerUK

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  1. Royal Mint are a boutique type outfit, their prices are generally the highest around. Like other sites they can sometimes be a little slow in keeping prices up to date, come the time to order you get presented with an updated price. At the end of the day always buy at cheapest price. Premiums for buyers are steep at the moment, it was 6 -11% in April, with sellers paying 3 - 4%. With gold prices at £1430 Brits are £1500 - £1590 today if buying and £1370 - £1400 if selling..._
  2. Money is still moving in to Gold Backed ETF's. We can appreciate the reasons without fully comprehending the what's, whys, and who's involved. As the price is going up and we've bought all we can, Digger Mansions don't really care much either..._ The World Gold Council report. "Globally, gold-backed ETFs (gold ETFs) added 170 tonnes(t) – net inflows of US$9.3bn (+5.1%) – in April, boosting holdings to a new all-time high of 3,355t.1 Assets under management (AUM) also reached a new record high of US$184bn as gold in US dollars moved higher by 5.8%. Inflows have been strong and consistent in recent months, but not unprecedented. Rolling twelve-month inflows of 879t just surpassed those of 2009 and 2016, while rolling six-month inflows are less than two-thirds of the 457t of inflows in the comparable time periods of 2009 and 2016."
  3. Schiff, like other gurus, gives no sign of understanding how asset prices have been inflated, or seem able to figure out why consumer price inflation hardly moves. Monetary easing through QE does not hit the high street, it stays in the banking and financial sector. Clearing dodgy debt off balance sheets leaves spare for such things as share buybacks, which inflate equity values, not consumer products. Companies having access to easily available cheap money don't go spending it shopping and push up CPI. Furloughing damn near everybody in sight and throwing money from the back of the Sunak bus will boost CPI. Problem is, you and Schiff can't tell the difference between asset price inflation and consumer price inflation, nor how it happens. Will you wise up or give it up, nobody here gives a rats what Schiff thinks. Your whole contribution had the word "gold" in it once. This is a thread on gold and the economy and there is a perfectly good sub forum for the economy..._
  4. Mmmmmh, am I seeing a thought pattern here?.......... I hope you are all tuning in to the latest talent show that will premiere tonight on prime time "Britain's Got Gurus" It's hosted by Gordon Brown. On the panel with him is Richard Branson, Sir Alan Sugar, Neil Woodford, Alan Greenspan and Bernie Madoff by video link. The line up includes some great talents from the Guru World Order.....Schiff, Sinclair and Faber from above plus Armstrong, The GATA Crew, The Turd Ferguson Ensemble and the one I am looking forward to most, yes, out of obscurity, it's Andrew Maguire! Get in the popcorn boyz 'n girlz..._ Edit, yesterday a.m. fix £1422.06 p.m. fix £1427.67 spot high £1444.98
  5. @jiltedjen, am I right in thinking that your SIPP gold is a gold backed ETF..._
  6. States and Empires collapse when they get it wrong. If you compare the Soviet Union to China you can see the truth in that statement. Bailouts of any sort work, until they don't work, then you have to change. It's a States ability to make the wise changes at the right time that makes the difference between success and failure of that State. Having draconian trade embargoes against you doesn't help, corrupt state machines harm a States ability to provide good governance as well. Schiff can't even see how foolish austerity has been, he believes that only the free markets can provide for all needs, which is just crazy. The main concern of Americans is not that they might contract Coronavirus, but that they won't have the money for hospital bills. He talks right wing nonsense in a way that even the most right wing Tories have given up on. He's a practiced publicist, not a guru of quality..._
  7. Schiff argues that bailouts don't work. All he is doing is following his free market, pro austerity, libertarian ideals. He shows and proves nothing, he is simply wrong. Bailouts may or may not make businesses uncompetitive and lead to their closure, but it sure as hell keeps the pay coming in for the workforce. State subsidies are always old wine in new bottles. That bill is always paid by the citizen anyway. Profits are always privatised and debts are always nationalised.......same as it ever was. Bailouts, State Subsidies, Keynesian Policies, Welfare State, Bread Wine 'n Olives.....put whatever label you like on the bottle, have been utilised for millennia because they provide a political solution to what is, at its base, a political, not an economic problem to resolve. Its an appreciation that it is in the main a political problem for the government to resolve, not an economic issue that needs to be understood here..._
  8. Bailouts do work. Bailouts have an economic foundation, but they are primarily a political action. It keeps the national economy afloat and allows a state to function. Maintaining a functioning state is the governments primary purpose.....I state the bleeding obvious I know, but that's what a governments job is. We all in our daily lives need to keep our heads above water and carry on. Businesses also do the same and take all sorts of measures to stay afloat........long term of course? Since GFC1 the bailouts have kept things afloat, it defies logic sometimes how they do it, but achieving that aim by kicking the economy down the road again is what they are aiming to do. Don't forget, the UK economy had more debt coming out of WW2 than they have now and didn't disappear. Bailouts then we're called 'State Subsidies' Are the bailouts more of the same, well yes, it's baked into the system of how they manage and only stops when it fails, It hasn't failed yet. The political aim is to make sure your state is still standing whilst others fail, it's a political/economic war on a global scale. The world will be one of massively changed national alliances in the coming years. Bailouts aren't the issue, who's left standing is..._
  9. For me the all time GBP high was met yesterday. The spot market was over £1400 per ounce all day, and both the a.m. and p.m. fix exceeded that level for the first time. * $USD is still some $200 behind its all time high of $1900, so other than sterling being in a poorer position than the preeminent reserve currency, not much else is revealed. When the $USD price shows higher lows and higher highs for six months, I'll be very excited. Until then I view it as only a calf bull market. Baby as it is, with all the other problems going down in the world economy it looks on the cards that a major Gold Bull is in the making..._ * May 14 a.m. fix £1403.67 * May14 p.m. fix £1420.09 * May 14 spot high £1425.10
  10. The claims that either of the Sacoolas had diplomatic immunity are false. The claims are not feasible when the protocols for granting diplomatic immunity were clearly never met. "Shadow foreign secretary Lisa Nandy has called for a parliamentary inquiry, in which the Foreign Secretary would have to explain "failings" with Mr Dunn's case." I have no doubt that the inquiry will prove they never had immunity. A case can be put before the American courts to deliver her to British authorities, any claims about a "final decision" can be dismissed and turn out not to be the final US word on the matter.The Interpol Warrant means she cannot leave the USA without being detained by the country she enters until extradited to the UK. I have more confidence than ever before that there will be justice for Harry..._
  11. @Warlord. Your post on silver should be removed to the precious metals forum, this thread is about gold and the economy. It can be cut and pasted over there quite easily..._
  12. DiggerUK (the fourth guru of the apocalypse to turn up now) is not about to, nor has he ever, released a podcast. But if he was ever to do so, I'm sure he wouldn't come up with a dynamic weeze to encourage people to buy gold with fiat that they had taken from their current account, keep that gold safe, and then sell the gold for fiat which they then put back into their current account......oh, hang on, I think that's what he does already. Cancel the podcast Mr. Spielberg, cancel, cancel, cancel..._
  13. As an active trade unionist for many a year, we could only dream of shutting down the whole economy with strike action. Now we have the state itself shutting down the country in a way that didn't happen in the Great Strike of 1926.....am I missing something here..._
  14. If all of Bransons business ventures collapse in a pile of dust, he will still have more than the 500 million he's trying to ponce off us..._
  15. Fiat currencies have only ever had an intrinsic value equal to the paper they are printed on and the ink they were printed with. Marco Polo and Ibn Batutta were amazed at the worlds first mass produced fiat and wrote about it in their accounts when they visited the Chinese Empire in the middle ages. That currency didn't disappear because it was fiat, it disappeared because the empire behind it lost its preeminent position in the affairs of the world and ended up disintegrating. Once access to Far Eastern markets could do without the Silk Roads after sea routes rounded the south of America and the south of Africa the Chinese Empire wained to zero. Genghis Kahn didn't help matters for China either. Fiat currencies don't collapse just because they're fiat, they collapse because the Empire, State or Country behind them is overcome by problems it can't resolve. The USA is still the preeminent economic, military and industrial power in the world and the dollar is not going to Palookaville. Long term for us gold is best, but we will always use fiat on a daily basis..._ Edit. Seems we have gone from zero to three of the buggers in no time at all..._
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