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FWIW

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  4. GOLD

    in Gold, FX, Stocks / Diaries & Blogs

    Posted

    Hi Warpig,

     

    You will sleep better at night owning metals during this catastrophe as it plays out - I do, that's for sure. When I was playing gold and silver stocks up to about a year ago, I was not sleeping at night - too volatile and I could sense a general DOW crash, which would pull all metals stocks down, so I got out.

     

    At one point I was 50 per cent of all my net worth in AUY Yamana (I got a bit carried away day-trading!), margined x 2 too!, around 15 or 16 dollars, just for a few days, and then I had my epihany and got out completely, and of course AUY collapsed to 4 or 5, and is rebounding to 6, but if I had stayed in, I woud have been wiped out, especially on margin.

     

    Prior to this I was 100% in metals, silver gold in a 60/40% ratio. Ideally, long term, gold is the SAFEST way to go, but I always have a problem with patience, tho trying to change that. :blink:

     

    I sold half to play the gold and silver miners, and now am fully 100% invested in silver 100oz bars, kept in a safe place on my property. The ratio of gold to silver is exceptionally high now, around 80 to 1, and I am going to switch between gold and silver as this volatile ratio swings up and down. I will do all this with physical, not digital trades. It has all worked well so far regarding the trading, but I am well underwater because of the silver collapse. However I am not margined, so can wait it out for silver to rebound to 20 and head north. I originally bought gold at 630, and silver at 13.30 - I am still buying silver at 10'ish, and I guess I am averaged in at maybe 14/15/16'ish, I don't know. At the moment I look at my stash and say to myself, the world financial system is collapsing in slow motion, be patient, because when gold goes to 1200 next April, silver will follow at 30, when gold hits 2500, silver will follow exponentially. I've also just bought a large chunk of gold at Gmoney to cover my daughter's future, by means of transferring out of a zombie pension fund I was in and going for a Gmoney SIPP.

     

    1) Would you keep any in cash in any currency?

     

    Not much, no. For me, a few thousand bux is all I keep in cash. My other half and I know the score, and know that a black swan at any time can change things v quickly indeed, and black swans can in Murphy's law fashion come along in pairs or triplets (see Taleb) - so you gotta be in it to win it. I expect to be protected with metals, but I also expect to become quite 'rich' in a detrioratingly awful world when the collapse occurs in earnest, my eventual aim being to sell most metals at the right time in exchange for a safe house in a safe place with resources, i.e a yacht too, for self sufficiency. So practically speaking I don't need cash - if I need cash QUICKLY I go to my local gold/coin/pawn shop guy and he gives me cash on the nose for a 100oz bar, no paperwork, no trail, if I can wait 2 weeks I put the bar on eBay and get an extra 300 bux. This is like averaging out! It is safer than a bank - who needs cash. And once gold/silver uptrend again, you are merely dipping into your savings! Remember, gold is MONEY!!! IT IS CASH!!!

     

    2) What percentage physical gold would you buy?

     

    100% silver at this high ratio. If silver hits 25 or 30 next spring and the ratio drops to 50 or less, swap for gold. Repeat back and forth, in physical only.

     

    3) What percentage physical silver would you buy?

     

    I am a gambler so silver holds by far the most potential upside. It will way outperform gold at current artificial prices. When silver spikes tho, it does tend to collapse v quickly, the trick is to swap into cash or gold at the right time. And for me I would only cash out to buy a house or farm. So depending on endgame circumstances I would go gold again.

     

    4) What else would you buy to make sure you don't put all of your eggs in one basket? NS&I indexed linked certs?

     

    No paper at all, we are in endgame collapse. Get out of the UKPound, it is going to collapse big time.

     

    5) Given the rate of decline and we're at the 11th hour, over what time frame would you average in to be safe?

     

    I would go all in immediately to be SAFE - if you wait, something may happen out of left field, and it may cost you more to get in. Silver at 10 is a total giveaway, I don't care if it drops to 5 again, because eventually it will be trading in the 100s of dollars. Also, hold physical ONLY - no paper gold at all.

     

    I'm sure this is all too gung-ho for you Warpig, but I hope it gives you some ideas. Good luck whatever you do!

     

     

    Warpig - CDS just gave you the most comprehensive answer I have ever read!

     

    Bravo!

     

    Keep it real, keep it physical!

  5. GOLD

    in Gold, FX, Stocks / Diaries & Blogs

    Posted

    I can and I will. Do you mind if I pass it off as my own!

     

    Just kidding, it must have taken an age to produce.

     

    It was easy as I was standing on the shoulder's of giants! http://video.google.com/videoplay?docid=-8484911570371055528

     

    Created the diagram to help myself understand it all and to see if it was of use to the common man in order to get interested!

     

    Yeah, you can pass it off as your own, but then people will start to look at you strangely!

     

     

  6. GOLD

    in Gold, FX, Stocks / Diaries & Blogs

    Posted

    Thank you COM, RH, Steve and Wren. I'll use a combination of your suggestions (although not the £20 on fire one, GOM (at least not literally)!) and let you know how I get on. The other one I used with him a few months' ago was asking the rhetorical (to me anyway) question "if you have the choice of burying £1,000 of cash or £1,000 of gold which you could only retrieve in 5 years time- what would you chose?". I thought that was quite a good way of illustrating my point and to be fair he didn't disagree. Any yet, no change! :angry:

     

    AJC - could you print this out and leave it lying around?

     

    http://i34.tinypic.com/2zp15hz.jpg

     

    Just as an experiment to see the reaction!

  8. GOLD

    in Gold, FX, Stocks / Diaries & Blogs

    Posted

    Hey guys,

     

    My parents sold their house to rent in 2006 and have some of their saving in Euro's but the majority in £'s.

     

    I'm really concerned that their savings are being eroded away.

     

    Do you think it's still worth trying to get them to put 10% of their money into gold?

     

    Yes - think of it as inheritance tax planning.

  13. GOLD

    in Gold, FX, Stocks / Diaries & Blogs

    Posted

    Have finally got my parents' to seriously look into PM's and their cash cleared on GM yesterday morning. Quite a hefty sum - buying in Sterling.

     

    Can't decide - buy now or pray for a dip and buy later?

     

    Drip feed your way in - buy some now, evaluate, buy some more, evaluate, rinse, repeat.

    Nobody can tell you what to do, but have they got any physical?

  14. GOLD

    in Gold, FX, Stocks / Diaries & Blogs

    Posted

    Must read article: http://www.marketoracle.co.uk/Article7722.html

     

    Quote I like:

    Our present experiment with irredeemable currency can last only as long as it is able to support futures markets in gold. The declining gold basis is the hour glass: when it runs out and the last grain of sand drops, gold fever will bleed the futures markets of cash gold, and the days of the regime of irredeemable currency are numbered.

     

    Previous episodes of experimentation lasted no more than 18 years, or half as long as the present one which has taken 36 years so far, a world record. Of course, none of the earlier episodes were supported by futures markets. Forewarned, forearmed. Get ready and move closer to the doors. When the curtain falls on the last contango in Washington, there will be panic and some people may get trampled to death at the exit.

     

    Dear Mish, lower your gun. The topic of gold backwardation is not for you.

  16. GOLD

    in Gold, FX, Stocks / Diaries & Blogs

    Posted

    Not sure where I heard this recently:

     

    "Those in the know are ashen faced. They are watching the tide going out, and they know what is coming".

     

    I think it was on Radio Live here.

    Ah, I remember, yesterday morning in the car.

     

    And so they should be. If I were one of the 'elite' I would be buying gold while I still can. Once the General Public realise they have been conned good and proper they will rip the 'elite' a new a**e hole.

  17. GOLD

    in Gold, FX, Stocks / Diaries & Blogs

    Posted

    Great sage or feeling the squeeze?

     

     

     

    Meanwhile, silver in backwardization (1 month)?

     

    $455 in a month???? Wow - I will be waiting with my fiat at the ready!

     

    I have just read the whole article...maybe the 'elite' know the gig is up, and need a way in to REAL money.

    Maybe the credit valves will be opened after this event and then hyper-inflation it is!

     

    Pencil in the 8th Jan 2009 as that is a month from the articles post date.

     

  18. GOLD

    in Gold, FX, Stocks / Diaries & Blogs

    Posted

    For those who are interested here is what GM had to say about it:

    ###########

    GoldMoney's accounts are all based in Jersey, ChannelIslands. As such, they are not subject to any guarantees that the government of Britain offers banks and individual account holders in the U.K. GoldMoney has opened a bank account at several different banks and we will move funds in between the banks if we are concerned about the solvency of a single bank. We hold abank account at RBS, Barclays bank and Lloyds TSB Bank. Also, our segregated funds feature is not intended to be used as a long-term savings alternative. Rather, it is designed to allow customers to more easily control the timing of their purchases, to hold the proceeds of a sell order on account if they plan on using those funds towards a purchase in the future, rather than wiring those funds back to their bank account immediately. The customer may also convert their currency balances into gold or silver immediately by making a purchase if they are duly concerned about the long-term viability of any of the banks where we hold our funds. Therefore, we recommend that you do not hold liquid cash in your Holding for any length of time and keep your savings in a precious metal which will alleviate any risk in regard to bank insolvencies.

    ###########

     

    Or, just keep buying physical and keep it simple!

  23. SILVER

    in Gold, FX, Stocks / Diaries & Blogs

    Posted

    Thanks for the reply Wren.

     

    Do CoinsInvestDirect still have the best price for Silver? I wish they accepted direct debit <_<

     

    They will also accept a cheque from you if you ask politely enough.

     

    I had to do this while my bank sent me one of their secureid type contraptions.

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