Joe

5% drop last week in a day and now an 10% gain in a day... what is going on?

These look amazing. I am year of the snake. Can I order these from Switzerland.

I am not panicking as I am still well up in gold and silver... as I am sure most on here are. When will be the best time to buy again is what I am worried about....

Hi ML Can I ask why you thought they would drop to these levels?

Stepping back from this, surely it is far more efficient and cheaper for the banks to do this rather than, repossess the properties, auction off with all the fees and time lapse, receive the auction funds and sort out where all the money left goes. I know its a win for landlords that overstretched themselves but even at 25% off would anyone else actually buy these properties anyway. What about the idea that the forgiven debt is taxed on the landlords at 50%?

I agree completely. I dont think the gov or banks will let this happen. Esp in London and the SE. Maybe in real terms the drop may be a bit more but nothing scary. Remember the UK IS still a tax haven for the rich, and when you add to this all that the UK and London has to offer, its still very attractive for the big overseas money. If you are making £60k a year on your non CG investments, and keep them offshore, you are a winner in the UK. Even if you are living here for more than 7 years and have to pay the 30k charge. This will trickle down the market and screw the FTB.

Thanks. That makes a lot more sense but I now have another question. Say the furtures market thinks that the price of gold is going to go down. So they charge a high premium for a short contract. Or no one wants to cover the short postion as they think they will make a loss. Is it possible that the premium for the futures contract can be more than the commission that they can charge on the sale of 10,000oz of gold in your example?

You didnt answer my question. If they have to pay spot price for the stock. And the next week the spot price drops $100. How can they make a profit. They make a loss. I am not interested in theories but hard facts.

Question - how do the gold coin dealers pay for the coins? At spot price on the day they purchase them? I was thinking that if that was the case, and I was a gold dealer, and I thought that prices were going down, I would not stock up on gold coins, becuase they will be cheaper next week and I would make a huge loss. So why not reduce your stock to the bear minimum and say there is a shortage to keep people buying?

Who knows. But the longer this goes on the more I think that people prefer deflation to hyperinflation.