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auag

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About auag

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  1. That is never going to happen. Never will a time come, when gold becomes less valuable than paper, so that people are tempted to sell gold to buy paper.
  2. From another source, Indian households own nearly 18,000 tonnes of gold...that is more than the claimed gold reserves of many powerful nations combined. Imagine if we added Chinese households and other countries. If these people suddenly had an urge to trade, it could move gold price beyond the reach of LME or other tradition gold price setting markets. Perhaps these people should create their own market? In an alternative scenario, image if paper currency tanked, and was deemed worthless around the world. Would India suddenly become the richest country in the world, since its inhabitants possessed the most physical gold?
  3. I have a feeling SPDRs and ETFs are about to have their bluff called....in due time to be revealed essentially as frauds, without any recourse to redeem in real gold bullion.
  4. Maybe he suddenly realized that paper meant nothing...that it wasn't really backed by real gold, and when push came to shove it would all be worthless soon?
  5. Actually, not really. Goldmoney and Bullionvault discourage, or at least not actively encourage, physical delivery of gold and silver. The way they operate is more and more like a ETF. What I'm proposing is a forum for purely physical metal. Where you can buy from someone, and have them ship to your home. Kind of like ebay, but more specialised toward PM, and with the additional benefit of merchants selling products and getting paid in PM. Furthermore, it could be a forum to encourage payments in PM, kind of like barter, and encouraging gold as currency at the same time. This gets even more important when you move out of Europe, to an International level. In India, for example, I think the average household owns about 20 grams of gold. I estimate that half of India's households own at least that much. There are 200 million households in India. If half of them, ie 100 million households own 20 grams of gold (this is a very conservative estimate), this equates to 4000 million grams of gold, or 4000 tonnes. This is more than the gold reserves of the Indian government itself. And that is not even counting people in China, Pakistan, UAE, etc. Most of these people wouldnt trust things like bullionvault since they cant get their hands on the gold. Imagine if these people had a forum to trade. The world economy would move.
  6. Hi Guys, Here's an idea... Since the London Metal Exchange caters to large companies and business houses, where does the common man go? Ebay? Should there be another alternative? I propose to start a worldwide internet community around the following objectives: 1. Pay one another in gold and silver - so regular people can connect with merchants taking payments in PMs instead of paper money. Merchants can offer services in return for PMs 2. Buy and sell gold and silver, directly from person to person, in USD, GBP, EUR. This will have the advantage of being as close to spot as possible, without having to go to a broker or LME. Internationally, people have a lot of gold and silver in possession, esp in countries like China and India where households own lots of PM. Perhaps, if we used the Internet to bring everyone together, some real fireworks could start?
  7. Speaking of Tesco...they're already in on the Cash for Gold business... And no, this is no joke! https://www.tescogoldexchange.com
  8. But surely, there must be some value in creating a platform where the common man can buy and sell their gold and silver by contacting other common people? I mean why should millionaire traders, (who - correct me if i'm wrong - are actually the only ones even allowed into the commonly exchanges) be the only ones to benefit from organized platform based trading? Shouldn't there be an equivalent organized market for physical metal, meant for you and me? even if it is much much smaller?
  9. You are overestimating the ability of the political establishment to influence commodity prices.
  10. Would Bullionvault buy from you at spot price if you were to take your 24K or 22K gold coins to them? It appears that CID and other gold sites buy below spot... cash4gold are scams, no point mentioning those... Ebay is perhaps the best you can get close to spot... Any other alternatives?
  11. I was wondering if there is a way to buy and sell gold and silver, or other precious metals, outside of exchanges such as CME? Even Bullionvault and other similar services claim to hold the gold in trust at their premises. But what if you want to sell gold that you physically hold? Or, what if you want to buy gold, and bargain for it, from actual owners of the gold? We all know how to order bullion from places such as Coininvestdirect and other websites or jewellers, but is there a way to buy it from the general public? Where an actual owner could sell you gold or silver? Putting it another way, what's the best way for the average Joe to sell their gold or silver, to the best price possible? Is there a public place where you can go and sell it, close to the spot price? Is there, or should there exist, an open market where you could just take your gold and silver and buy or sell?
  12. I was wondering if it is legal to conduct business in the UK, by accepting gold as payment, instead of cash? For example, like buying land and paying gold for it. Or, selling a property and accepting gold? What about other countries?
  13. I recently ordered 20g gold bar from CID... but was surprised to receive a Heraeus 20g gold bar while the website displays an image of a UBS bar The Heraeus bar does not come with a certificate or any kind of fancy packing...was a tad disappointed to be honest.. how reliable is Coininvestdirect for gold bars? has anybody else here ordered gold bars from CID?
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