Killer Bunny Posted January 26, 2014 Share Posted January 26, 2014 I don't believe they will. The next crash should take the sovereign's down with it, this will make it very different to the last crash. In next crash $ will soar. As last time. On verra Quote Link to comment Share on other sites More sharing options...
buyerbeware Posted January 27, 2014 Share Posted January 27, 2014 You should have made this decision last year and paid 7% tax in Germany rather than 20% now. If you're investing a lot of money then put it in gold, a 20% saving is very very large. Rear mirror advice great use that. What 20% saving do you mean and compared to what? Quote Link to comment Share on other sites More sharing options...
weaker Posted January 27, 2014 Share Posted January 27, 2014 Rear mirror advice great use that. What 20% saving do you mean and compared to what? I think he/she means that there is 20% VAT on silver; but there are loopholes where you can reduce it to 7% by buying it from Germany (legal) and having it delivered. Trouble is the merchants who do this have a quota which, when the exceed, they have to charge 20% VAT as usual. No VAT on gold. Quote Link to comment Share on other sites More sharing options...
Wurzel Of Highbridge Posted January 27, 2014 Share Posted January 27, 2014 You should have made this decision last year and paid 7% tax in Germany rather than 20% now. If you're investing a lot of money then put it in gold, a 20% saving is very very large. I have several kilos of silver stacked away, but am looking to use the services of bullion vault as it saves the VAT, physical delivery and storage. Quote Link to comment Share on other sites More sharing options...
weaker Posted January 28, 2014 Share Posted January 28, 2014 ... I note there are 11,700,000 ounces of Open Interest in Feb14 Gold (http://www.cmegroup.com/daily_bulletin/Section62_Metals_Futures_Products_2014016.pdf) compared to 375,000 ounces of deliverable (http://www.cmegroup.com/delivery_reports/Gold_Stocks.xls). So, it's more likely now than ever before to occur. we'll see. If the OI does not drop below 3750 contracts, a "soft default" will be called, and the exchange fizzles into meaninglessness. Pricing power will migrate, and the cash-settled muppets will be left hanging out to dry. monday's report: OI down, as expected...but still big positions to roll before Friday's "First Notice Day". Down to 84,982 contracts (8,498,200 ounces)of Open Interest. http://www.cmegroup.com/daily_bulletin/Section62_Metals_Futures_Products_2014017.pdf Still 375,000 ounces of deliverable. http://www.cmegroup.com/delivery_reports/Gold_Stocks.xls Quote Link to comment Share on other sites More sharing options...
JPJPJP Posted January 28, 2014 Share Posted January 28, 2014 How about the January contract - settlement day for that is tomorrow ... just 92 contracts on that one Out of interest, do you know what the open interest on the Jan contract was on December 28th? Just to calibrate with your sentiment towards the Feb Contract just now, on 28 Jan... Quote Link to comment Share on other sites More sharing options...
weaker Posted January 28, 2014 Share Posted January 28, 2014 How about the January contract - settlement day for that is tomorrow ... just 92 contracts on that one Out of interest, do you know what the open interest on the Jan contract was on December 28th? Just to calibrate with your sentiment towards the Feb Contract just now, on 28 Jan... Jan14 OI has been low all along - it's an "non active" month as declared by CME. I think it may have got to 500 contracts of OI at one point. http://www.cmegroup.com/trading/metals/goldfutures/product-suite-gold.html The active contract months will be February, April, June, August and December. Quote Link to comment Share on other sites More sharing options...
Killer Bunny Posted January 28, 2014 Share Posted January 28, 2014 Bullish chart. SLV needs to go up from here. Quote Link to comment Share on other sites More sharing options...
Wurzel Of Highbridge Posted January 28, 2014 Share Posted January 28, 2014 Just noticed my regular supplier who was seling 7% VAT silver coins from Germany is now charging 0% VAT... Is there some loophole they have found? Latvia? Quote Link to comment Share on other sites More sharing options...
weaker Posted January 29, 2014 Share Posted January 29, 2014 (edited) monday's report: OI down, as expected...but still big positions to roll before Friday's "First Notice Day". Down to 84,982 contracts (8,498,200 ounces)of Open Interest. http://www.cmegroup.com/daily_bulletin/Section62_Metals_Futures_Products_2014017.pdf Still 375,000 ounces of deliverable. http://www.cmegroup.com/delivery_reports/Gold_Stocks.xls tuesday's report: quite a large drop in OI: Down to 4,853,300 ounces of OI (48,533 contracts) http://www.cmegroup.com/daily_bulletin/Section62_Metals_Futures_Products_2014018.pdf Still 375,000 ounces of deliverable. Also worthy of note, the second removal of 10 tonnes in the space of 3 days from the JPM "Eligible" stocks (these are non-deliverable, likely due to alternate ownership, not for sale, wrong purities, bar sizes etc.): http://www.zerohedge.com/news/2014-01-28/jpm-sees-28-withdrawal-gold-vault-one-day-another-10-tons-depart On Friday, when we remarked on the biggest recorded withdrawal from the JPM gold vault, we said: "Something tells us the next few days will see matching withdrawals from JPM's gold vault, which at last check was officially owned by the Chinese." As it turns out we were absolutely correct: according to the just released update from Comex, on Monday the infamous gold vault located below 1 C(hina)MP saw an identical withdrawal of 321,500 ounces, matching the record withdrawal, and amounting to 28% of all JPM gold in storage. Adding to Friday's drop, this means that a record 47% of JPM's gold has been withdrawn in a few short days -- This actually makes my point, i.e. that we will never know the encumberances of these "Eligible" (non-deliverable) stocks. They may be owned by multiple parties, or may be owned outright by JPM and switchable to "Registered" as needed. All we know is that there's only 375,000 ounces of "Registered" deliverable stock in the COMEX warehouses at the moment. Edited January 29, 2014 by weaker Quote Link to comment Share on other sites More sharing options...
Wurzel Of Highbridge Posted January 29, 2014 Share Posted January 29, 2014 tuesday's report: quite a large drop in OI: Down to 4,853,300 ounces of OI (48,533 contracts) http://www.cmegroup.com/daily_bulletin/Section62_Metals_Futures_Products_2014018.pdf Still 375,000 ounces of deliverable. Also worthy of note, the second removal of 10 tonnes in the space of 3 days from the JPM "Eligible" stocks (these are non-deliverable, likely due to alternate ownership, not for sale, wrong purities, bar sizes etc.): http://www.zerohedge.com/news/2014-01-28/jpm-sees-28-withdrawal-gold-vault-one-day-another-10-tons-depart -- This actually makes my point, i.e. that we will never know the encumberances of these "Eligible" (non-deliverable) stocks. They may be owned by multiple parties, or may be owned outright by JPM and switchable to "Registered" as needed. All we know is that there's only 375,000 ounces of "Registered" deliverable stock in the COMEX warehouses at the moment. I can assure you if JPM is involved then it will be out and out fraud. Quote Link to comment Share on other sites More sharing options...
Wurzel Of Highbridge Posted January 29, 2014 Share Posted January 29, 2014 I'm curious. Who ? My link Used this guy many times before, he is also a German eBay dealer. Not a big reputable name, but was selling with 7% VAT before 31st Dec. Quote Link to comment Share on other sites More sharing options...
Wurzel Of Highbridge Posted January 29, 2014 Share Posted January 29, 2014 the 0% tax seems to fall under this: § 25a differential taxation (1) a tax applies to shipments within the meaning of § 1 para 1 no 1 of movable tangible property subject to the following rules (differential taxation) if the following conditions are met:1 The entrepreneur is a reseller. As a reseller is a person who acts professionally with movable tangible property or those items in its own name publicly auctioned. 2 The goods were supplied to the reseller in the Community. That delivery was a) Sales tax is not due or not charged according to § 19 paragraph 1 or the margin scheme made. 3 The objects are no gems (from positions 71 02 and 71 03 of the Customs Tariff) or precious metals (from positions 71 06, 71 08, 71 10 and 71 12 of the Customs Tariff). (2) The dealer may declare at the latest when submitting the first appointment of a calendar year to the tax office that he applies the margin scheme from the beginning of this calendar year on the following items: 1 Art objects (point 53 of Annex 2), collectors' pieces (number 49 point f and point 54 of Annex 2) or antiques (heading 9706 00 00 of Customs Tariff), which he has imported himself, or 2 Works of art, if the delivery to him was taxable and was not executed by a reseller. The declaration binds the reseller for at least two calendar years. (3) Revenue is measured by the amount by which the sale price exceeds the purchase price of the article; For deliveries within the meaning of § 3 para 1b and enters the provisions of § 10 paragraph 5, replace the sales price, the value according to § 10 paragraph 4 No. 1 Can the purchase price of an art object (number 53 of Appendix 2) does not determine the purchase price or is insignificant, the amount of which is determined by the sales, valued at 30 percent of the sales price. The sales tax is not part of the tax base. In the case of paragraph 2 sentence 1 No. 1 shall be deemed purchase price of the value within the meaning of § 11 para 1 plus the import sales tax. In the case of paragraph 2 sentence 1 No. 2 of the purchase price includes the VAT of the supplier. (4) The reseller can the total revenue by the total amount exported within a tax period measured, by which the sum of the selling prices and the values according to § 10 paragraph 4 No. 1 exceeds the sum of the purchase prices of this period (total difference). The taxation on the overall difference is only permitted for such items whose purchase price does not exceed 500 euros. In addition, paragraph 3 shall apply accordingly. (5) The tax must be calculated using the general tax rate in accordance with § 12 Section 1. The exemptions, except the exemption for intra-Community supplies (§ 4 No. 1 Letter b, § 6a), remain unaffected. Notwithstanding § 15 Section 1 of the paid import tax, the tax shown separately, or the benefit payable under § 13b paragraph 5 control for the executed at him delivery is the reseller in the case of paragraph 2 shall not be entitled to deduct as input tax. (6) § 22 shall apply with the proviso that must be seen in the records of the reseller 1 sales prices or values according to § 10 paragraph 4, sentence 1, No. 1, 2 purchase prices and 3 the tax bases referred to in paragraphs 3 and 4 Applies the reseller addition to differential taxation taxation under the general rules that he must keep separate records. (7) the following special characteristics: 1 The margin scheme does not apply a) on supplies of goods, the reseller has acquired within the Community, if the exemption for intra-Community supplies in the rest of the Community has been applied to the supply of goods to the reseller, on the intra-Community supply of a new vehicle within the meaning of § 1b, paragraph 2 and 3 2 The intra-Community acquisition is not subject to sales tax if the margin scheme has been applied in the rest of the Community on the supply of goods to the purchaser within the meaning of § 1a paragraph 1. 3 The application of § 3c and the exemption for intra-Community supplies (§ 4 No. 1 Letter b, § 6a) are excluded at the margin scheme. (8) The reseller may waive the margin scheme to each delivery as long as it will not apply paragraph 4. Does the waiver to the matters referred to in paragraph 2, the deduction is possible earlier than during the pre-registration period, in which the control is created for delivery. Quote Link to comment Share on other sites More sharing options...
John51 Posted January 29, 2014 Share Posted January 29, 2014 (edited) iirc, the way it works is that if you buy from an EU country that has 0%VAT on silver and they ship to your address here, the transaction is deemed to take place in the UK so 20%VAT is applied. However, if say Fedex pick up your order, it is deemed to be a transaction in that country as the vendor didn't ship to you, so 0%VAT. Edited January 29, 2014 by John51 Quote Link to comment Share on other sites More sharing options...
Wurzel Of Highbridge Posted January 29, 2014 Share Posted January 29, 2014 iirc, the way it works is that if you buy from an EU country that has 0%VAT on silver and they ship to your address here, the transaction is deemed to take place in the UK so 20%VAT is applied. However, if say Fedex pick up your order, it is deemed to be a transaction in that country as the vendor didn't ship to you, so 0%VAT. But I thought they outlawed 0% VAT silver across the EU on Dec the 31st? I was paying 7% VAT German rate prior to Dec 31st, does this mean that I could have actually been paying 0%? Quote Link to comment Share on other sites More sharing options...
Errol Posted January 29, 2014 Share Posted January 29, 2014 (edited) The Difference Between Gold And Bitcoin, As Explained By Elliott's Paul Singer (has run a hedge fund for 37 years and currently manages $23.3 billion): Bitcoin After 37 years in the investment-management business, we are not easily shocked. However, two things about bitcoin have shocked us recently. One is that bitcoin and some of its fellow alternative currencies are finding such favor among investors while gold (the only real alternative currency) is languishing. The second is that the most heated investment-related conversation we have had in many years was with a young person who, when told of our mild dubiousness toward bitcoin, basically lost it and started yelling in its defense. Bitcoin comes with passion and belief – at least at the moment. There is no more reason to believe that bitcoin, a computer-generated, algorithm-driven currency of supposed limited supply, will stand the test of time than that governments will protect the value of government-created fiat money. One difference: Bitcoin is newer and we always look at babies with hope. If you are looking for an alternative currency, look into gold. It has stood the test of thousands of years as a medium of exchange and a store of value. Better yet, it is not just a computer entry out in the ether somewhere, and it was last seen available at a good price. Bitcoin and its relatives speak to understandable impulses (against big government, in favor of freedom and modernity), but we do not see this particular experiment lasting. At least you have to work really hard to dig gold out of the ground. http://www.zerohedge.com/news/2014-01-29/difference-between-gold-and-bitcoin-explained-elliotts-paul-singer Edited January 29, 2014 by Errol Quote Link to comment Share on other sites More sharing options...
weaker Posted January 30, 2014 Share Posted January 30, 2014 (edited) monday's report: ================ OI down, as expected...but still big positions to roll before Friday's "First Notice Day". Down to 84,982 contracts (8,498,200 ounces)of Open Interest. http://www.cmegroup....cts_2014017.pdf Still 375,000 ounces of deliverable. http://www.cmegroup....Gold_Stocks.xls tuesday's report: ================= quite a large drop in OI: Down to 4,853,300 ounces of OI (48,533 contracts) http://www.cmegroup.com/daily_bulletin/Section62_Metals_Futures_Products_2014018.pdf Still 375,000 ounces of deliverable. Wednesday's report: OI down to 2,344,200 Ounces. http://www.cmegroup.com/daily_bulletin/Section62_Metals_Futures_Products_2014019.pdf Still only 375,000 ounces of deliverable. http://www.cmegroup.com/delivery_reports/Gold_Stocks.xls Edited January 30, 2014 by weaker Quote Link to comment Share on other sites More sharing options...
Gigantic Purple Slug Posted January 30, 2014 Share Posted January 30, 2014 Why do these posts always start with some qualifier justifying why you should believe what is written in them. This always sounds my alarm buzzer. Anyway, the last paragraph is not right. You have to work pretty hard to get bitcoins too. Energy for the computers vs. energy for the diggers. Capital cost of computers vs. capital cost of the JCBs. You get the idea. The Difference Between Gold And Bitcoin, As Explained By Elliott's Paul Singer (has run a hedge fund for 37 years and currently manages $23.3 billion): Bitcoin After 37 years in the investment-management business, we are not easily shocked. However, two things about bitcoin have shocked us recently. One is that bitcoin and some of its fellow alternative currencies are finding such favor among investors while gold (the only real alternative currency) is languishing. The second is that the most heated investment-related conversation we have had in many years was with a young person who, when told of our mild dubiousness toward bitcoin, basically lost it and started yelling in its defense. Bitcoin comes with passion and belief – at least at the moment. There is no more reason to believe that bitcoin, a computer-generated, algorithm-driven currency of supposed limited supply, will stand the test of time than that governments will protect the value of government-created fiat money. One difference: Bitcoin is newer and we always look at babies with hope. If you are looking for an alternative currency, look into gold. It has stood the test of thousands of years as a medium of exchange and a store of value. Better yet, it is not just a computer entry out in the ether somewhere, and it was last seen available at a good price. Bitcoin and its relatives speak to understandable impulses (against big government, in favor of freedom and modernity), but we do not see this particular experiment lasting. At least you have to work really hard to dig gold out of the ground. http://www.zerohedge.com/news/2014-01-29/difference-between-gold-and-bitcoin-explained-elliotts-paul-singer Quote Link to comment Share on other sites More sharing options...
weaker Posted January 31, 2014 Share Posted January 31, 2014 monday's report: ================ OI down, as expected...but still big positions to roll before Friday's "First Notice Day". Down to 84,982 contracts (8,498,200 ounces)of Open Interest. http://www.cmegroup....cts_2014017.pdf Still 375,000 ounces of deliverable. http://www.cmegroup....Gold_Stocks.xls tuesday's report: ================= quite a large drop in OI: Down to 4,853,300 ounces of OI (48,533 contracts) http://www.cmegroup....cts_2014018.pdf Still 375,000 ounces of deliverable. Wednesday's report: =================== OI down to 2,344,200 Ounces. http://www.cmegroup.com/daily_bulletin/Section62_Metals_Futures_Products_2014019.pdf Still only 375,000 ounces of deliverable. http://www.cmegroup.com/delivery_reports/Gold_Stocks.xls Thursday's report: ================== NB: Friday is "First Notice Day". OI down to 898,800 ounces (8,988 contracts). http://www.cmegroup.com/daily_bulletin/Section62_Metals_Futures_Products_2014020.pdf Deliverable "Registered" stock moved up to 440,000 ounces. http://www.cmegroup.com/delivery_reports/Gold_Stocks.xls things are getting interesting! Quote Link to comment Share on other sites More sharing options...
Killer Bunny Posted January 31, 2014 Share Posted January 31, 2014 Make or break time for PMs. I'm surprised to see S back down here but nothing yet determined. Support 18.9 Resistence 20.5 Quote Link to comment Share on other sites More sharing options...
weaker Posted January 31, 2014 Share Posted January 31, 2014 Make or break time for PMs. I'm surprised to see S back down here but nothing yet determined. Support 18.9 Resistence 20.5 Indeed. I am beginning to think that they might "shake the tree" here in order to rustle up some gold for delivery...! Quote Link to comment Share on other sites More sharing options...
JPJPJP Posted January 31, 2014 Share Posted January 31, 2014 Given the correlation between prices and stocks, pushing the price up would be the best way to get stocks into CME warehouses Quote Link to comment Share on other sites More sharing options...
JPJPJP Posted February 1, 2014 Share Posted February 1, 2014 Thursday's report: ================== NB: Friday is "First Notice Day". OI down to 898,800 ounces (8,988 contracts). http://www.cmegroup.com/daily_bulletin/Section62_Metals_Futures_Products_2014020.pdf Deliverable "Registered" stock moved up to 440,000 ounces. http://www.cmegroup.com/delivery_reports/Gold_Stocks.xls things are getting interesting! First Notice Day is of no real consequence. Think of it as the first official notification to contract holders that, if they hold the contract to expiry, they could be expected to take delivery. Trading can continue right up to 26 Feb on the Feb contract OI is 5,905 as of the Friday close Maybe disaster will be averted (again). Quote Link to comment Share on other sites More sharing options...
weaker Posted February 1, 2014 Share Posted February 1, 2014 First Notice Day is of no real consequence. Think of it as the first official notification to contract holders that, if they hold the contract to expiry, they could be expected to take delivery. Trading can continue right up to 26 Feb on the Feb contract OI is 5,905 as of the Friday close Maybe disaster will be averted (again). thanks for that update -- 5905 is still quite a number! - 590,500 ounces standing on FDN vs. 440,000 deliverable. The trading of Feb14 futures is now highly illiquid and will result in cash settlement or physical delivery. Longs do not decide to file. Effectively, all contracts that expire during the contract month that have not been covered as of the first notice date are filled. - cash or gold? Quote Link to comment Share on other sites More sharing options...
JPJPJP Posted February 4, 2014 Share Posted February 4, 2014 1,041 contracts settled on the Feb contract on Mon 3 Feb, 4 contracts were delivered physical. 4,814 open interest remain http://www.cmegroup.com/trading/metals/precious/gold_quotes_volume_voi.html Quote Link to comment Share on other sites More sharing options...
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