wren

Yes. Historically this was the ratio of the 2 metals in the Earth's crust, however nowadays you would have to specifically include landfill in the definition of the "Earth's crust..." There is now believed to be less mineable silver than gold because of consumption, with silver effectively becoming extinct within 10 years. Silver will have to go through price discovery at some point due to scarcity, but TBH I'm not factoring that in to my estimates for this crisis, that is a more of a long term vision but it will happen.

It's interesting to note that the demand reasons for gold and silver were historically similar, i.e. as money and a store of value (often in the form of jewellery, ornaments etc.). It is therefore no surprise that their relative values were inversely proportional to their relative supplies.

In this modern era silver has become an important industrial metal far more than gold. I therefore expect that the ongoing demand for silver is relatively higher, so the ratio might eventually go lower than the old historical equilibrium (less than 1/16).

Is it de rigueur on GEI to post pictures of rockets? I'll show some restraint for now, but this is looking like a mini-moonshot. Gold just can't help spiking whenever I'm about to make my monthly gold purchase. If anyone would like to know the date and time in advance, there's an opportunity for a nice arbitrage play on my misfortune.

 

Damn this bank holiday weekend for slowing down my bank transfer to GoldMoney..

Some reckon that options expiry day (around the 26th) is a good time of the month to buy as gold often dips for that. This is useful if you are a monthly buyer. Of course, in any given month who knows?

Good to see that GF is back posting.

I have been posting your UK house prices in gold chart at HPC fairly often, hoping that some can see that the crash is well on in gold terms and will most likely continue.

Looking at the PIxel8r lines chart, do people think this upleg is over or only half-way through? Pixel8r originally targeted 1300-1350, I think, if it played out like the previous years and we would at present still be only half-way through the full move.

I'm hoping for a new high by the end of May.

I'm doing some data analysis at the moment on historial gold prices........

 

I'm looking for an excel file that had daily prices back to circa 1971 in GBP. I can only find a file online back to Jan 2000, couresy of World Gold Council. Any help much appreciated

Kitco has tables of London prices back to 1996. You could probably copy and paste into Excel.

http://www.kitco.com/gold.londonfix.html

I think that this is the greatest of all complacencies out there, the belief that no harm can happen to a major currency. I guess we will just have to wait and see.

Many people are still mesmerised by paper money.

$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$

Doktor Mesmer says you can trust the dollar.

$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$

(The $ symbol comes originally from silver, of course.)

From:

What he said about consuming 1/10 didn't seem to make sense.

One of the comments tries to clarify:

The info he gives about consuming 1/10 of the world's suppply is wrong, we consume 1/20 of known reserves but you would be foolish to think they will not increase that number, not including recycleable supply.

LOL silver will not be going to $100 on industrial demand anytime soon, it will have to be monetary demand that takes it that high, at least in this decade.

You can win an ounce of silver if you win the monthly gold price guessing competition at 24knews.

The closing date is 15 Feb. Guess the price on Mar 5 London PM fix. Simply post your guess price. Here's the thread:

http://www.24knews.com/viewtopic.php?f=2&t=188

headmelter won the Feb silver price guessing contest.

I won the Jan gold price guessing contest.

We alternate each month between gold and silver.

The prize is a one-ounce silver Libertad or one ounce of silver into your GoldMoney account if you have one.

On edit: Mar 5

iirc, about a month or so ago he said to basically get out of everything (I kid you not). He phrased it something like "I am a very experienced trader, but even I don't know what to trade for a while, so I am out for now".

...

Thanks. By getting out of everything I suppose he means staying in cash which is being in something.

Is he American? and I suppose his cash would be USD?

a lot of traders are going to lose a lot of money imo. I believe Reinhardt's predictions because of the things I explained previously, incorporating all sorts of info/data/rumours/clues. He posted this after the 4th but the susbscribers to his site will have be forewarned imo.

 

...

Does he specify what he classes as "risky holdings"?

It's even simpler if something like Goldmoney were to become widely used. One can transfer metal from one account to another in gold grams or silver ounces. This is the future of money IMO. It may take years, but this is (by popular demand) where it will go.

Last month I won the gold-price guessing competition at 24knews. The prize was a one-ounce silver coin.

I PM'd my GM account number to Pixel8r and he deposited one ounce of silver in my GM account from his GM account.

It was the first time I received via that system and the transfer must have occurred within minutes.

...

 

People here holding promises from gold money or bullion vault wont get a penny if they go bust or the bullion holders go bust

 

...

At both GM and BV the customer is the legal owner of the bullion he has purchased. GM or BV could go bankrupt and the official receiver could not steal the bullion from the owners i.e. the customers.

Both GM and BV have stated this clearly. It's a central part of the service they provide.

Also, please, anyone who survived the plunge of 2008 (remember, silver down from 21 to 9?) should be coping well here.

I was lucky to avoid the autumn 2008 plunge in silver. I might have started buying in quantities in the July but delayed and seeing the correction well underway in September I waited until November to start my purchases.

Although the gold I bought in July 2008 was under water for a few months, an edifying experience.

Just found this video at 24knews. It wonders why the Chinese government is encouraging its populace to buy gold and suggests that future monetization backing the yuan with gold is one possible reason.

From:

In fact, I would like to suspend DrBubb for a while because he never uses the quote tags.

Just the other day I read a post for a couple of paragraphs until I realised it was not DrBubb's own words but he was quoting an article.

I always use quotes to indicate that the words are not my own.

At least GF provides some indication to us other posters what's going through his mind and gives people public warnings. He also said when he started as a moderator that those who swear at other posters could get a short suspension, so we know where we stand.

On gold, today's 50-dollar takedown is something we need to get used to. Now that gold has been over a 1000 for a while changes of 50 or 100 dollars don't feel so big to me. I had a feeling a takedown was due after a few strong days.

I added to my little silver coin collection and also some half sovereigns. I like the size of half sovereigns because as the price of gold goes up and up even one sovereign isn't exactly cheap.

Yes. But then there are cups and pints and quarts and gallons and barrels. In the metric system there is just the meter - everything else follows naturally, at least from a mathematical perspective.

What the ell.

Nothing to do with being poetic - just more practical. Any system that has evolved through many hundreds of years will be better than one thought up by a committee. I will admit that for science, the metric system has advantages but for everyday usage, you cannot beat that which has evolved.

 

As an example of this, think of a cart wheel - from 1900 - this represents the collective wisdom and experience of hundreds of generations of wheel builders - compare this wheel with a wheel that would be designed by a committee with no prior knowledge of wheel building but good technical design abilities. The 1900 wheel would be infinitely superior - because of thousands of years of trial and error.

Although the neurones of the light-receptors in the retina of the eye are wired the wrong way round. An interesting case of maldesign but the result of an evolutionary process.

I thought Finland was metric. But my house is full of UK inch thread sizes on the heating pipes. When i go to any merchant i can buy either Inch UK or metric parts. As often as not it is inch sizes on the taps and so forth.

TVs and bicycles are still in inches. Not areas I'm familiar with, but apparently boat lengths are in feet and wood is quoted in inches or was until recently (2 by 4 for example).

At least flat and house sizes are always given in square metres which makes comparison quick and easy and in one's mind one can imagine the size quickly whatever the number of rooms.

They should definitely introduce area as standard when quoting residences in the the UK and why not use square metres? That would make comparison with continental Europe easy too.

How to live without banks

 

Tom Hodgkinson, editor of The Idler, talks to Giles Dilnot in the City of London on how we can live without banks.

 

http://news.bbc.co.uk/1/hi/programmes/the_...ics/8483213.stm

Cuthbert Calculus did an article for the Idler last year. I guess he didn't get paid in gold sovereigns.

I locked the last thread to encourage people to use this thread instead (or we end up with parallel threads going on which makes life difficult to follow things).

 

Nothing suspicious about it and I wouldn't have bothered except posts were made to the last thread after I asked everyone to use the new one.

It would be good if in the OP you put a link to the end of the last thread.

So people can check the previous posts easily.

Do you know a link for a gbp/eur silver history chart?

This has gold and silver in EUR (and USD):

http://www.24hgold.com/english/gold_silver...aspx?money=Euro

For longer term charts, below the charts click "Interactive Silver Chart" which will open a new window with a silver chart and some controls to change the time span and moving averages.

Use the flags near the top of the page to change currencies. So UK flag gives you GBP.

Order error ??? , price now higher

VAT up from 15 to 17.5% ?

er......you're selling physical and buying paper ?

Yes, but only a limited amount, selling only up to 20% of the gold holding. Stocks might do better in the late phase of the bull market, but paper is more risky.

I must admit my new two year plan isn't much different than my old two year plan. I do plan to ditch much of my sterling as I feel inflation will start to pick up after Q2.

 

I know this has been done to death but how are other people diversifying? Anyone doing anything different this year?

In the late winter or spring I hope to sell some gold and then maybe in the summer buy some gold/silver stock indices or stocks.

So, of course, I'm hoping for a new high in gold from Feb to May and that gold/silver stocks drop prior to my purchases. I may get one of those, both if I'm lucky.

LOL...I almost bought a bar of physical also, not sure why I didn't go ahead now...

 

I was going to buy some silver as at the moment I prefer that to gold (I assumed they would be doing that also - I assumed wrong)

Poor Man's Gold is beneath Harrods.