BelfastBoy

... gold can be manufactured in unlimited quantities.

... the Australians are manufacturing gold too.

http://www.youtube.com/watch?v=yulIts8LPLg&feature=relmfu

I'm also not into the buying of small denominations for barter etc. It ain't gonna happen, so why pay an extra?

History shows that all 'fiat' monetary systems fail. Though I don't think history has ever shown that monetary failure will result in complete social collapse.

I'm thinking there will be a slow adjustment rather than an instant reset. The system will bump along. The majority will slowly see their living standards fall. It will be so subtle that they will simply adjust and get on with life. Most will never realise what has happened. Everyone around them will be in the same situation too. It is already happening. IMO this is just going to be another great depression. My time frame for the adjustment is 2 decades. We are already 5 years into the adjustment that started in 2007.

...I'd like to know if owning bullion, through online bullions vaults or the actual physical thing is also CGT exempt. I keep seeing contradictory statements on that matter, which is annoying. Thanks!

The only bullion that is CGT exempt are gold Britannias and Sovereigns. Are silver coins CGT exempt?

Some dealers will allow you to store coins in their vaults using 'allocated' accounts. Of course you will increase your counterparty risk by doing this. But then there are certain other risks with having large amounts of bullion coins in your personal possesion.

That was me and it was a joke, it clearly wasn't photoshop'd...

Ok, never mind.

£1007 Sweet

This has been an exceptional summer. I was expecting the usual 15%+ summer pull back before now. Gold usually rises from mid/late August

(from my limited experience observing the market since summer 2007)

Guess what gents, I'm pro gold. Although I guess I now fall into heretic category for making a simple observation on a chart. The level of defensiveness on here is hysterical sometimes.

I found the same thing. I posted a picture that I took myself of the New York Stock Exchange with a big poster on it saying, "The best currencies Gold and Silver!" I was asked if the picture was fake. I'm pro gold too.

... exactly, it is the entire debt based monetary system that is in a bubble. Gold is simply returning to its normal historical value as real money.

Simples.

"The best currencies - Gold & Silver!" on the front of NYSE... Own up, this must be photoshop'd....!

... definitely NOT!. I could hardly believe it myself. To be honest I was actually a bit stunned and confused when I saw it. There were lots of other people there taking photos too. And the New York FED is only a few hundred yards away.

On another note - any theories as to why gold has not dropped this summer?

PS Thank you Goldfinger and good luck. I particulary liked your discussion on exit targets. Hope you will spare the time to update us occasionally.

Took an interesting photo while on holiday in New York recently...

I'm on holiday in New York. I was a little surprised to see a massive sign covering the entire front of the New York stock exchange building with the words, "The best currencies gold and silver!" It was part of an ad. for www.usgold.com.

I'll post a photo when I can.

Have a good trip! Hope you are going where there are no tsunamis/earthquakes (Scotland- )

Ummm...

The east coast of Scotland was struck by a 70 feet (21 m) high tsunami around 6100 BC, during the Mesolithic period.

£914 a late Christmas present for everyone.

I know it's now considered bad luck, but it is good fun.

ho ho ho!!!

I hold only Investec Global Gold and Blackrock Gold and General inside the ISAs.

Which company did you use to open these ISA's?

Thanks

(I did a quick google search and nothing obvious appeared.)

Not thinking of opening an ISA until the end of October - just incase...

Gold meet...

Can anyone explain what this means and the likely outcome?

Gold is being brutally smacked down. Selling is being met by an equal amount of buying. Still, they keep on adding to the shorts. That's the sign of a trapped short.

When is the options expiry date this month?

Your punishment is to 1) sign in to HPC 2) find a RealistBear thread 3) say something complimentary about his economic forcasting

LMAO

$1150 breached.

 

Hmmmm what we need....rhymes with pocket, socket and Lord Brockett

Sonny Crockett?

No man and for me a first.

 

Have enjoyed a lot of your posts but these tedious banal attacks by a few posters on a few regular commentators here gets really old after a while. Yours on RH fell into this category.

 

You guys are on the other board more for a reason so why pop over here just to wind up other posters?

Agree.

I am a bug. But I like hearing other peoples opinions.

The worst IMO are the attacks on Dr. Bubb, who I understand, set up this site.

Good luck to everyone for the years ahead...

... no matter what your opinions are.

BB

I see no reason why houses should not go below 130,000 pounds on average over the short- to mid-term.

 

BTW, see also my signature for exit-signal considerations.

Thanks GF. I'll check out those links.

Based on?

 

Sorry BB, this a gold thread so I should not ask

My question is badly worded. I was only really using £130k as an example. I forgot that there are a lot of (ex)HPCers here too.

I fully expect average UK house prices to fall to 3 times average single incomes. As my signature on the HPC website shows.

In the context of the price of gold when it peaks in terms of housing, why not?

 

The chart on the HPC homepage shows that the last 2 troughs each fell below their preceding 2 peaks. If that happens again we'll go below £130k in real terms.

Exactly. Golds value is comparitive to many things - mainly we think of the value in or local currencies - but gold can be valued against oil, houses, tailor made suits, cows, sheep, loaves of bread etc.

No (at least not much). It's simply undervalued. The price could easily be $5,000 - $12,000 (with no further money printing).

Hi GF,

Been thinking about your post above. As you may remember I am interested in targets and exit strategies. One exit signal I will be watching is the house price/gold ratio of 100. Surely even the lower target of $5000 would mean that the average UK house price would fall far below 100 ounces?

I expect UK house prices to stop falling around £130,000. So I also expect gold to double from here to £1300 t/oz ($2000) to make 100 ounces equal to the average house.

Do you see the ratio going a lot lower in this cycle? If so why?

(sorry for the silly questions )

BEIJING, Sept 21 (Reuters) - China is considering buying gold being offered for sale by the International Monetary Fund, Market News International said on Monday, citing two unnamed government sources, but the report could not immediately be confirmed.

 

http://in.reuters.com/article/domesticNews...P48213620090921

 

Is the IMF's bluff being called ?????

As a girl in Wales once said to me ,"Oh boy... this is gonna hurt!"

he is intelligent though (although it pains me to say so) & understands a lot of what is going on, he just can't seem to link it all together imo.

... redkarma has made some very accurate calls over on HPC... especially on some of the buying opportunities

Of course, some who inherit would blow the money on booze, fast women and fast cars and probably waste the rest (RIP George Best) but most wouldn't.

George Best also used to go Missing a lot... Miss UK, Miss Canada, Miss World.

2) The german company selling gold from vending machines "smacks of taxi drivers tipping internet stocks in 1999"

I was thinking that the shoe shine boy moment will be when the boy at the car wash is telling people to buy gold. After all the preferred form of transport in 1929 was shoes. Now it is cars. Tenuous link I know. (I always wash my own car. So I will never know.)

So are people giving up on the idea that the average UK house will at some point, in the next 5 years, be below 100 ounces - or that the DJIA will equal 1 ounce.

I personally use kitco and cid / cid are selling eagles at the mo for just over £13 / if you buy 500 plus ask for a discount. I otherwise buy scrap at spot. Im holding off for a while now because I think a stronger dollar may provide better opportunities (but then i have a core pos.)

Not planning on buying that many. Already have silver in a GM account. Vat, spreads and bulk are putting me off silver coins. Will wait and see if a better buying opportunity presents itself as you think it may.

Thanks,

BB

Which dealer is offering the best spreads at the moment? Is it better to buy coins or bars for investment purposes? Are coins going to be easier to sell at a later date?