DiggerUK Posted January 29, 2015 Share Posted January 29, 2015 Well they have a truly shit web site and frankly that's always a bad sign unless you are going to a physical premises to purchase......... That is not my main concern. If somebody is being underhand by spamming their business I won't trust them or trade with them, that's all. They have a land line number, which is something I always look forl..........but a PO Box address, which I don't much care for. ..._ Quote Link to comment Share on other sites More sharing options...
weaker Posted January 29, 2015 Share Posted January 29, 2015 just musing on gold and Russia... a lot of people think that the sharp decline in the oil price is an attack on Russia given that Russia is accumulating gold, is there a way that a similar attack could be made on Russia through a sharp decline in the gold price? Bear in mind, China has $4Tr of foreign reserves and Russia has $350Bn. That's enough dough to buy all the physical gold in Fort Knox (assuming it's still there, of course!)... http://www.fiscal.treasury.gov/fsreports/rpt/goldRpt/current_report.htm Gold Fine Troy Ounces: 258,641,878 Not like it'll be for sale however. That's why posession is 9/10ths... Quote Link to comment Share on other sites More sharing options...
Errol Posted January 29, 2015 Share Posted January 29, 2015 Quote Link to comment Share on other sites More sharing options...
pipllman Posted January 29, 2015 Share Posted January 29, 2015 she can move quickly when she wants to Quote Link to comment Share on other sites More sharing options...
Killer Bunny Posted January 29, 2015 Share Posted January 29, 2015 1240 was and is in the cards, as stated here last week. Doesn't alter trend unless breaks through sustainably. Lots of people will be crying sell now. Didn't see many crying buy at 1150. Quote Link to comment Share on other sites More sharing options...
Silverfinger Posted January 29, 2015 Share Posted January 29, 2015 Bear in mind, China has $4Tr of foreign reserves and Russia has $350Bn. That's enough dough to buy all the physical gold in Fort Knox (assuming it's still there, of course!)... http://www.fiscal.treasury.gov/fsreports/rpt/goldRpt/current_report.htm Gold Fine Troy Ounces: 258,641,878 Not like it'll be for sale however. That's why posession is 9/10ths... If China tried it, the price per ounce would go to plus infinity. All central banks of the world would be loaded (if they owned a little)! Quote Link to comment Share on other sites More sharing options...
weaker Posted January 29, 2015 Share Posted January 29, 2015 If China tried it, the price per ounce would go to plus infinity. All central banks of the world would be loaded (if they owned a little)! Yeah, I know. Just saying that Russia alone (having a piddly $350Bn in reserves) could buy the lot at $1,200 per ounce -- Gold Fine Troy Ounces: 258,641,878 x 1,200 = $310,370,253,600 They'd still have $40Bn left and the Chinese would get nada. Quote Link to comment Share on other sites More sharing options...
Stay Beautiful Posted January 29, 2015 Share Posted January 29, 2015 Has anybody used sovereigninvestments.co.uk. Prices seem good. ..._ No, not used them. Prices are bang on. Never seen such a tight spread over here. Quote Link to comment Share on other sites More sharing options...
Stay Beautiful Posted January 29, 2015 Share Posted January 29, 2015 Lots of people will be crying sell now. And that will do just fine and dandy. Quote Link to comment Share on other sites More sharing options...
aardvark Posted January 30, 2015 Share Posted January 30, 2015 Has anybody used sovereigninvestments.co.uk. Prices seem good. Seen one recommendation. ..._ EDIT Help us out here peeps, I'm a wee bit concerned. Over on MSE a poster called Mr. & Mrs. posted and mentioned sovinvest. Now in the gold forum Tom321 has also mentioned them. Both started posting this month, both mention sovinvest..........am I getting worked up over nothing, or is anybody else concerned. ..._ this site reckons its only a few months old: http://www.bizstats.co.uk/ltd/sovereign-investments-precious-metals-limited-09281180/ i wouldn't risk my money on that. Quote Link to comment Share on other sites More sharing options...
DiggerUK Posted January 31, 2015 Share Posted January 31, 2015 this site reckons its only a few months old: http://www.bizstats.co.uk/ltd/sovereign-investments-precious-metals-limited-09281180/ i wouldn't risk my money on that. Good work. The sovinvest site claims they have been in business since 2011. Hope everybody here trashes this outfits reputation every chance you get. ..._ Quote Link to comment Share on other sites More sharing options...
The Masked Tulip Posted January 31, 2015 Share Posted January 31, 2015 The end result of relentless global QE would be a hyperinflationary depression, where prices rise strongly because of the endless increase in money but get people get poorer as wages fail to keep pace. When you mention hyperinflation people think of it as prices rising by thousands of percent per year, like in the Weimar Republic in Germany or Zimbabwe at its worst, but it doesn’t have to be anywhere near that bad to be hyperinflation – if prices only rise by 60% per year, most citizens would be ruined within 2 years. That could easily happen if this QE gets out of hand. .... So even though the blizzard of unbacked money created by the ongoing global QE can be expected to drive the prices of many investments like stocks higher and higher, gold (and silver) are not going to be left out for much longer. They are already starting to come to life. Older investors will recall that gold’s gigantic bullmarket of the 1970’s was punctuated by a big 2-year correction in the middle of it that corresponds to the big 3-year correction that we have just witnessed, before it took off higher again into a massive ramp and a spectacular blowoff top, which is what we should see repeated again, only this time round, given the unprecedented excesses that now exist, it is likely to be orders of magnitude larger. Might be of interest to those who like to read about such things. http://clivemaund.com/article.php?art_id=3391 Quote Link to comment Share on other sites More sharing options...
Killer Bunny Posted February 3, 2015 Share Posted February 3, 2015 Eh? Quote Link to comment Share on other sites More sharing options...
Killer Bunny Posted February 3, 2015 Share Posted February 3, 2015 Still unclear. Quote Link to comment Share on other sites More sharing options...
Errol Posted February 5, 2015 Share Posted February 5, 2015 (edited) Belgium Reportedly Plans to Retrieve 200 Tons of Gold From UK Storage Belgium is planning to retrieve 200 metric tons of gold, deposited to United Kingdom storage in the 1930s, Belgian public broadcasting organization RTBF said Wednesday. The date of the retrieval operation is kept secret for security reasons, according to RTBF. A ship with 50 soldiers and a helicopter will escort the ingots to Belgium. http://sputniknews.com/europe/20150204/1017789475.html Edited February 5, 2015 by Errol Quote Link to comment Share on other sites More sharing options...
Errol Posted February 5, 2015 Share Posted February 5, 2015 Where Is Mein Gold? Almost half of Germany’s gold is stored in vaults under the streets of Manhattan. Or is it? http://www.bloomberg.com/news/features/2015-02-05/germany-s-gold-repatriation-activist-peter-boehringer-gets-results#news/features/2015-02-05/germany-s-gold-repatriation-activist-peter-boehringer-gets-results Quote Link to comment Share on other sites More sharing options...
weaker Posted February 5, 2015 Share Posted February 5, 2015 Getting close to backwardation / negative basis, here at 1259 handle.. Quote Link to comment Share on other sites More sharing options...
Silverfinger Posted February 5, 2015 Share Posted February 5, 2015 Gold strategy in the current economy since 1999: Buy & hold. Quote Link to comment Share on other sites More sharing options...
Silverfinger Posted February 5, 2015 Share Posted February 5, 2015 Getting close to backwardation / negative basis, here at 1259 handle.. And what would the significance of backwardation be? Quote Link to comment Share on other sites More sharing options...
DiggerUK Posted February 5, 2015 Share Posted February 5, 2015 And what would the significance of backwardation be?It's deeply meaningful nonsense of no significance.But it does create a feeling of self importance in those who use the phrase. Must not be confused with any sort of inteligence. Don't ever ask them to contango for you. ..._ Quote Link to comment Share on other sites More sharing options...
Silverfinger Posted February 5, 2015 Share Posted February 5, 2015 It's deeply meaningful nonsense of no significance. But it does create a feeling of self importance in those who use the phrase. Must not be confused with any sort of inteligence. Don't ever ask them to contango for you. ..._ I simply wanted to check if we had any Fekete disciples on here, or any other "New Austrian Economists". Because: Discussing arbitrage arguments or other simple logical arguments with them is like explaining evolution to a bunch of creationists. Quote Link to comment Share on other sites More sharing options...
DiggerUK Posted February 5, 2015 Share Posted February 5, 2015 ............Discussing arbitrage arguments or other simple logical arguments with them is like explaining evolution to a bunch of creationists. 'Fraid it's worse, more sense can be gleaned watching chimps with tools...._ Quote Link to comment Share on other sites More sharing options...
weaker Posted February 5, 2015 Share Posted February 5, 2015 I simply wanted to check if we had any Fekete disciples on here, or any other "New Austrian Economists". Because: Discussing arbitrage arguments or other simple logical arguments with them is like explaining evolution to a bunch of creationists. I merely mention it because the fact that it exists is interesting; that no-one has actually arbitraged the difference away means there is some desire over and above a small free profit to hold the gold now, and not sell it (and buy an offsetting futures/options contract). Dunno if that's Fekete or Austrian - just logical inferrence. Oh, Digger go away with your nonsensical drivel. Contribute somehing useful or f**** off. Quote Link to comment Share on other sites More sharing options...
Silverfinger Posted February 5, 2015 Share Posted February 5, 2015 ... that no-one has actually arbitraged the difference away ... No, backwardation does NOT imply arbitrage! This Fekete brain child has been debunked over and over again. Please convince yourself, the logic is very simple: Faux Gold Arbitrage. BullionVault Gold News. September 02, 2013 http://goldnews.bullionvault.com/gold-arbitrage-backwardation-090220135 Fekete's Arbitrage Fallacy. SafeHaven. December 10, 2013 http://www.safehaven.com/article/32088/feketes-arbitrage-fallacy The Time Value Of Gold – Ignore It At Your Own Peril. SafeHaven. December 20, 2013 http://www.safehaven.com/article/32189/the-time-value-of-gold-ignore-it-at-your-own-peril GOFO – Real Explanations vs. Pseudo Experts. SafeHaven. December 28, 2013. http://www.safehaven.com/article/32250/gofo-real-explanations-vs-pseudo-experts Quote Link to comment Share on other sites More sharing options...
Silverfinger Posted February 5, 2015 Share Posted February 5, 2015 Simple arbitrage arguments show: LIBOR - GOFO = GLR, where GOFO = gold forward offered rate and GLR = gold lease rate. Backwardation means negative GOFO, so backwardation means GLR larger than LIBOR (minus minus is plus). But GLR is simply the interest rate of gold: what you pay to borrow gold. Backwardation therefore means that gold's interest rate (the gold lease rate) is higher than that of the Dollar (LIBOR). There is no arbitrage here. Otherwise you could also arbitrage between the Euro and the Dollar interest rate differential (or vice versa), which you can't. Why is it so difficult to understand that gold is just another currency? Quote Link to comment Share on other sites More sharing options...
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