Compounded

And do you think its low or not low enough?

I don't know but:

I am getting to think I may get a bit of physical mainly because I think it is very unlikely to be confiscated if things turn really bad.

Silver at current prices is a better bet IMO if you want a volatile PM that may make a big profit or just could be a dog.

This is true, so can you see palladium falling further from where it is now or just staying at the range its in now for years to come? If I buy some, it will be a very long term investment, a pension plan.

Palladium was more expensive than gold for a while about 10 years ago - IMO it's a speculative punt defo only worth buying when low. I think the high price was due to Ford trying to corner the market and Russia limiting exports - not predictable fundamentals.

LOL, the UK certainly does!

 

Accountants at Grant Thornton reckon that Culpability (Brown) cost taxpayers 2 billion by selling 400 tonnes at the bottom of the market."the timing of the decision was ludicrous," said Peter Fava, then head of precious metals at HSBC. "We told them [the BoE] – you are going to push the price down before you sell it." That's just what happened, of course. Gold sank by almost one-tenth on the back of Gordon Brown's decision to announce his sales ahead of time. - "I was surprised they had chosen the auction method," adds Martin Stokes, a former vice-president at J.P.Morgan. "It indicated they did not have a real understanding of the gold market.

 

Clueless or not, however, it didn't matter. The Bank of England had no say in the matter. It only got to advise the government on HOW to sell the gold. The fact of the sale itself had already been decided by the Treasury. And since then, says the Times, the government has since defied calls to release minutes and emails written at the time. The Times says it's because the experts warned the government to hang onto its gold. Anon.

Brown's behaviour makes much more sense if the aim of the gold sales was to reduce the gold price - it is strong circumstantial evidence that central bank gold price suppression exists.

Yes. NO one will be thinking of buying houses when they will have reached 50 oz. They will be known as the greatest possible dog of an investment. The 'property precipice' will be on people's mind, not the ridiculous 'ladder'.

There will be buyers but not buyers who think of them as an investment that will produce a profit.

That is the mark of a healthy house market IMO.

A place to live that you cannot be ejected from is the best reason IMO the only reason for house purchase.

The average UK house price is now 234 oz of gold, down from almost 700 oz in 2004.

Do you sort of feel we have harly started- even though these figures suggest we are more than half way there?

There is no doubt in my mind that gold will go much, much higher. The nominal price of gold will possibly go beyond our wildest imaginations anyway. From that perspective, this is a sad day because I can afford less gold at these prices with my present income. FFS, only two years ago I could save double the amount of gold every month.

Are you not a little sad about the disaster that is unfolding, it's victims, the ignorant but honest hardworking people who believed in Krusty and Phil's easy path to effortless riches?

I would rather cg be wrong and my gold lose value, I suspect he feels the same too.

Yeah I am richer and the worlds falling apart - guess that's the goldbug curse.

The problem I have with the Panda is that it looks cute. But gold as bullion is not cute, it's business. So, an Eagle or a Maple or the Queen on it is preferable in a way (to me). But I gave my wife a Panda pendant some time ago.

A coin without the queen on it?

It is something primal with me - guess I am old enough to remember the circulating coins with kings and Victoria.

This primal thing will be cogent to many, but the Queen in gold - you cannot beat it.

ps I like the new jigsaw coins they are fun.

No they did away with the different CGT rates. It is now a flat 18% for everyone.

I missed that change, I am not selling so it's not relevent to me now, it may one day but not yet.

CGT in the UK is 18%, I think.

GCT, you get £9,200 tax free and the excess is treated as income if a top rate payer you pay 40%, if not 20%.

I don't think it's unusual for cgnao not to post for several days at a time. So I wouldn't read too much into it.

 

Nice to see that gold has held adequately in euros and it is after all the second biggest paper currency in the world, so worth keeping an eye on.

Bubb thinks he is in Dubai; that place is not immune far from it, the hubris there was pretty much at the extremis of this global bubble, then again I don't think the well informed cg would live in such a place unless he had an easy exit. Jesus it's in the middle east, Israel would be a better bet (so long as you are not under 40 and liable for millitary service or have not got military age sons)

If he is there I imagine he will be moving soon if not now.

NZ seems best to me but I am staying in the UK as I have connections and family here.

From a Jim Willie article (Dec 3) ZOMBIE BANKS & GOLD TRIGGER

 

http://www.gold-eagle.com/editorials_08/willie120408.html

QUOTE

With the shift of power away from the US and toward Europe in the Western world, the price of gold should be viewed more often in euro terms. It has not fallen badly, but instead has consolidated. The bullish divergence is clear. A U-shaped reversal pattern requires a move above 650 euros to ignite a rally. Before long, gold will run up in all currencies.

This sort of fits in with cg's informed friend saying they are desperate to keep gold below Euro 600.

Like a previous poster I am aprehensive that cg has posted so little.

Silver Summit UK 5/11/08 James Turk and Others gold,silver,dollar,mining.

 

Don't know if this has been posted but here it is.

 

http://www.silversummit.co.uk/videos.htm

Great lecture, thanks for posting it.

Does anyone know where I can download the FTSE/gold ratio chart he showed?

I had a second trip to the BOE museum on Friday I just had to hold that 400oz bar again it's worth £211000 now.

I also went to the British Museum and stumbled on the money room - for anyone deeply interested in monetary history it's better than the BOE museum in that it has some of the really old money from ancient times although there is not a 400oz gold bar to fondle.

The indestructible value of gold and silver versus all the alternatives is plain to see.

I get the sense that all the parts have now been set in motion and can only play themselves out. I just feel like a spectator now; what was before an intellectual exercise has now turned into a sense of foreboding.. or dare I say dread.

 

It is like watching a train crash.... in slow motion. All that remains is to see which side of the tracks the wreckage will go.

It's the slowness that is so deceptive - it obscures the seriousness of the unfolding calamity.

Presumably they are nervous because they are tax evaders.

 

Again, to get to this stage with the gold holdings that people on this board possess (assuming you're not tax evaders, of course! ) , the government would have to criminalize the private holding of gold. They would also have to dismantle or neutralize the judicial system, as I'm sure people considerably richer than moi would take the matter of private gold seizure to the House of Lords.

 

Also, that quote referred to handing over records, not the gold holding itself. The UK government can get the records from BV anyway and will have records if you have exceeded the £5,000 and £10,000 limits for gold purchases from a dealer.

 

Taking this a bit further, the only way I can see that you could disappear from the radar completely is to have bought your gold in chunks of less than £5,000 per dealer for cash and then store it out of the banking system (which does increase the risk of robbery). eBay would leave a trail. However, if gold holding is declared illegal in this country, you would then have to leave and take your gold holding with you. In which case, you'd better not be one of those people who sweat a lot when you're under pressure

I am hoping so few have physical gold that the UK government will not bother to confiscate.

It (comex default rally) could still happen, but my hunch is that the cartel have something up their apron to forestall it...

It would be amazing if they hadn't.

A big smackdown coinciding with an anticipated rally due to comex default is what I would do if I had the task of suppressing the gold price.

It almost looks as if he is making fun of Paul.

Do you think so, I thought he looked shifty and was obviously uncomfortable.

He was lying we know it and Ron Paul knew he would have to before he even spoke.

We will sooner or later be entering $100+ moves in the POG per Jim Sinclair - that is the nature of the illuminist teased Bull, trying to crsuh the goldbug riders - let's face it, the fundamentals and history sez that gold should be well into the $2-3,000 range by now - it is ALL fraudulent noise, and the ebay market disconnect will just get bigger and bigger as time goes by. When gold becomes a pohibited item on ebay (a terrorist money laundering tool) we'll really know we are in business...

That's possible, I was hoping that so few have aquired physical gold it would slip under the radar and be irrelevant in the great scheme of things.

The degree of leverage in the system has ever increased since 1913. That's the fundamentals behind it.

 

This is brilliant, it conveys a message that is so difficult to explain in words in a simple easy to see way.

The big question is will the current crash be so big it breaks the international monetary system altogether, cg thinks so and so do I.

I am sure GF has a similar chart or charts of the 70's gold bull, it too seemed less spiky in GBP than USD.

Is this a coincidence or is there a reason?

The 70's GBP chart gave me the impression that in GBP missing the blow off peak in 1980 and selling somewhat late was potentially much less costly than trying to sell before the blow off and risking selling too early.

I am coming to the opinion that as gold is insurance I will not try to time a blow off peak, infact this seems even more sensible if cg's total economic collapse happens which is looking more likely as every month passes.

I am in the UK

UK may go the same way as Iceland

Gold will protect me from that so I am sticking with gold.

People should just hold physical. Trading this market is madness.

That is my belief but I could be wrong - it would be nice to know what percent of traders are making a profit.

Just saw this advertised on TV: Got gold? Get cash!

 

They are offering around 50% of spot! (To buy, of course)

 

 

 

 

unwanted, broken gold???

£5.43 per gram 9kt gold on Baird they are offering £3.80

Rip off or what??

Broken gold is an odd phrase.

Only a sucKer would trade gold using Technical Analysis.

 

How very true.

Trading gold is too difficult for me but some are much cleverer than me of that I am certain.

CG I am certain you are cleverer than me me, BTW I wish you health and happiness - as for wealth I gotta feeling you dont need anyones wishes.

too late now GF, I have been in the nutter club for well over a year & you were there before me.

I love that, the nutter club; my name is on the list and I am coming in.

It just shows how effective the propaganda from the elite has been that saving in a money that long term holds value could be equated by many of the most intelligent as the actions of a nutter.

Some very old and very hard lessons will be relearnt when paper money reverts to its intrinsic value.

you have to pass the test first.

 

tell at least 3 random strangers that house prices will crash by 90% at worst & the depression is coming & WILL be worse than the 30's.

I kid you not

My sandwich board is ordered.

I tell no one and hope that gold savers are so few that in the coming crisis the power cannot be bothered to confiscate.

What about the 'good times' between 1999 and 2007?

I am not sure - I don't know if you can ask him.

I recall it did not seem like a good time fron 2000 to 2003 at least for pension funds and those into the SM.

YES

 

According to the every 2 year (odd) blow off theory we are due another major move up mid-late next year.

 

happened in 2003/5/7

 

2009???

I would not be surprised if it went to $2000 and back to where it is now.

The 70's bull had a 50% correction and I am pretty sure there was no manipulation then and a less serious financial crisis too.