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cgnao

Out Of Paper

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I am pleased to announce that at 15:32:37 GMT on 20 April 2006, I surrendered the last of my paper capital for gold, at a spot price of £344.5

My policy from now on is that any amount in my possession exceeding £1,000 or equivalent in any paper currency shall be converted into gold bullion as soon as practically possible and in any case within at most one business day, regardless of market conditions.

This will apply until either the market price of one ounce of gold can buy the DOW Jones, or nominal long term interest rates exceed the money supply growth by at least 3%.

I am now fully protected.

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Guest boredwaiting

You have brass balls, i give you that...

I hope

a.) that you are at least half real (i.e. have actually invested in gold and at least half your wealth)

b.) that you do very well and make your money

c.) aren't a complete lunatic that eats toilet paper and plays with himself while the nurse washes you.

Edited by boredwaiting

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I am pleased to announce that at 15:32:37 GMT on 20 April 2006, I surrendered the last of my paper capital for gold, at a spot price of £344.5

My policy from now on is that any amount in my possession exceeding £1,000 or equivalent in any paper currency shall be converted into gold bullion as soon as practically possible and in any case within at most one business day, regardless of market conditions.

This will apply until either the market price of one ounce of gold can buy the DOW Jones, or nominal long term interest rates exceed the money supply growth by at least 3%.

I am now fully protected.

nice thought but that's only going to happen with a new currency IMHO

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Guest boredwaiting

nice thought but that's only going to happen with a new currency IMHO

Isn't that Dr Bubbs avatar on GEI??

edit: Ignore this - it's another old git in an oil painting.....

Edited by boredwaiting

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I am pleased to announce that at 15:32:37 GMT on 20 April 2006, I surrendered the last of my paper capital for gold, at a spot price of £344.5

! :o Brave man, however you aren't protected if gold moves back, as you know.

Do you hold it in bullion, futures, ETF, spot market?

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100% in bullion

the majority in two allocated accounts

plus a few sovereigns and britannias to pay me a trip out of the country in case it becomes necessary

I am not brave. I know the fundamentals.

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Guest boredwaiting

I am not brave. I know the fundamentals.

You're a lunatic....

Gold may drop - i have just invested what I consider a hell of a lot of money and signifcant part of my savings in gold yesterday but i believe gold will increase but i can't say i believe in it enough to put all my money in....

I really hope you do well - but i think you're a little mad...

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Will nurses actually let you do that? :unsure:

I am sure that what the nurse will do or allow you to do only depends on how many gold sovereigns you are prepared to give her.

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You're a lunatic....

Gold may drop - i have just invested what I consider a hell of a lot of money and signifcant part of my savings in gold yesterday but i believe gold will increase but i can't say i believe in it enough to put all my money in....

I really hope you do well - but i think you're a little mad...

Mad? Look at what I posted in July, with gold at approx £240/ounce. Amazingly, very few people took notice at the time. http://www.housepricecrash.co.uk/forum/ind...showtopic=12868

Events over the past few months are confirming my analysis. Unlike then, I now am sure of what is coming, and am preparing accordingly.

Protect yourselves. Get some gold.

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I am pleased to announce that at 15:32:37 GMT on 20 April 2006, I surrendered the last of my paper capital for gold, at a spot price of £344.5

My policy from now on is that any amount in my possession exceeding £1,000 or equivalent in any paper currency shall be converted into gold bullion as soon as practically possible and in any case within at most one business day, regardless of market conditions.

This will apply until either the market price of one ounce of gold can buy the DOW Jones, or nominal long term interest rates exceed the money supply growth by at least 3%.

I am now fully protected.

Well we are both Lunatics. I completed my last purchase today, although I'm keeping a £5K float just incase the price of ciggy's go through the roof.

I have lost faith is paper money - it's just a big scam.

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well i am nearly 40% in

no more for me - but good thing when i bought a year ago

I want to be realtively liquid - i.e. cash - though the GBP is falling through the floor against everything else as i check in the post office exchange - Yen, Dollar, Euro, Russian etc.

£10 in my pocket is worth less every day it seems

Edited by notanewmember

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Guest boredwaiting

Mad? Look at what I posted in July, with gold at approx £240/ounce. Amazingly, very few people took notice at the time. http://www.housepricecrash.co.uk/forum/ind...showtopic=12868

Actually i have followed your posts. I took too long to sort out an account with gold money but wanted to buy at 550. I saw it go to 600 thought there would be a pull back but now it's going through the roof. So i have just jumped in regardless. I have read about it and i believe it will go through the roof if the banks lose control or B52's and tomahawk missiles roll into iran, it will explode.

Also I can't see what else to invest in..... But i can't help feel that I missed the boat.

Also I hope you are talking at least 5 figure numbers when you talk about being all in gold. I did that in one bound (yesterday) and will put in some more if it it drops below 600. Otherwise i don't want to risk much until it looks like i have some profit (you lose a lot up front with gold money - it actually hurts)

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1) good luck to you cg. My own holdings are modest, but I am going to load up as the pull-back falls below $600. Once it rises a second time, I doubt we'll see $600 gold again in this currency.

2) interesting that the mainstream media have ignored this amazing latest surge. $100 in less than a month! You'd think it would be front page news. This shows the unspoken censorship in which we live. That is fine by me. Gives me more time to get ready.

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Yesterday's was a desperate engineered sell-off to allow the cornered shorts to cover. It happened in the comex market, which is just paper (future contracts).

Look at the bounce this morning in the physical market in London. The short position is so large it can't possibly be covered without sending the price to the sky. Soon some large entities will find it difficult to buy physical, at any price.

My advice is load the boat with physical gold in allocated accounts or coins/bars in your hands, because the international monetary system is at high risk of sudden collapse.

Protect yourselves.

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My advice is load the boat with physical gold in allocated accounts or coins/bars in your hands, because the international monetary system is at high risk of sudden collapse.

Surely if you load the boat with gold it will sink.

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Also I can't see what else to invest in..... But i can't help feel that I missed the boat.

boredwaiting,

No you haven't missed the boat. In fact this is still an early, stage 2 , bull run. However, patience is required. I believe, we are currently in a new consolidation phase, which may be in the range 580-640, and may last 2-4 months, unless some serious geopolitical concern erupts ( I am not an expert, just a

guess).

From personal experience I discovered two possible errors:

1) Overcommit and be forced to liquidate at a lower price. Corrections, in particular for stocks, can be vicious. One must not be greedy.

2) Make purchases after a substantial run up.

The second error, however, will eventually be forgiven in this roaring bull. I have made a ot

of technical errors however, my investment, that was made below 560$, should be safe.

I am about 55% invested, and would be prepared to commit further funds should the gold price drop below 600.

Some people expressed concern that a 100% investment (cqnao) is unduly risky. That is not the case, however, if a person is already sitting on a substantial profit and is not bothered by 5-8% corrections, as we have recently seen.

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Guest Riser

Ahh that feels better after adding some gold and Palladium Yesterday just before morning just before the peak it was not a good day.

However, it looks more and more like Yesterdays drop was a organised move by the silver shorts to bring the price down before the expiry of options on Monday. This move also coincided with the announcement of an increase in margin requirements for silver traders :ph34r:

We may see a repeat performance Today but this time the market will know their game so I will buy into any silver weakness from here as we could see big rises again next week. Nothing has changed to the underlying factors driving the silver and gold markets this is just pure manipulation and we all know you can't buck the markets just look at the ERM fiasco.

By Monday I could be 80% allocated commodities, commodity shares and funds. :)

Well done Cgnao for sticking to your guns and loading up on any weakness.

Edited by Riser

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I am pleased to announce that at 15:32:37 GMT on 20 April 2006, I surrendered the last of my paper capital for gold, at a spot price of £344.5

Around 5 weeks later it's at £345.91, what's the yield like on a block of metal?

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Around 5 weeks later it's at £345.91, what's the yield like on a block of metal?

Can't you see yet what is going on? Protect yourself.

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  • 302 Brexit, House prices and Summer 2020

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      • down 5% +
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