Manual labourer

What would happen if the US/UK just defaulted, said it wasn't going to pay?

If it is going to be as bad as that, and I don't think it will be, then surely even though gold is great, the only real place you would want to be invested in would be UNMORTGAGED productive farm land and self suffiency? Remember we had a good day yesterday we only needed to borrow 167bn, not 178bn and Brownomics thought that was great news! It is a weird world at this moment the logic of that baffles me! If I could afford a debt free farm at the moment, I think I would buy it now,rather than place all my money in gold. How do others see the gold farmland price relationship going? Which is better a big stash of gold or a productive debt free farm? Regards ML.

Cheers RH. You seem to be in a very good position to me! Fingers crossed for a summer sell off/buying opportunity for us both ! ML.

I see what you are saying but don't agree, we have to deal with the here and now, gold is a tangible store of wealth, and has been for thousands of years, it is one of very few things I see as cheap at the moment, houses, shares bonds all look dear ? Being late to the party I would love it to drop lower in price then I could further join in ! I suspect though it wont and in 12months time now may be seen as a good buying oppourtunity? Who knows? Do you mind me asking what is your average in price for your holdings ? Regards ML

I guess you could short lower than 1050,target 850/900 go long above 1250 breakout target 1650? It seems like the market is making it's mind up, but you would have to say we are in a gold bull market and the trend is up ? ML

What if deflation leads to Hyper -inflation the production costs could go to $5000.00 an ounce, would paper or cartridges keep up? Regards ML.

leave her post-it notes on the fridge every MORNING with your assets gbp balance and her static gbp balance, hopefully she will think you are a trading god in a few months time! Regards ML.

Thankyou for your reply. So of your liquid assets you are totally committed to PM.? If so what % of your gross yearly income is in PM? I think that is an important factor to guage commitment? Regards ML

Chris -CT "About 70% Gold, 30% Silver. Missed the palladium boat! This amounts to >1.5 years' gross salary for me Go to the top of the pageReport Post" + This is a really helpfull post for people who are a little late for the start of the party, and encourages me to join in. Cheers Chris, Would anybody else like to add the current position. Mine of liquid assets is :- 10% gold 2% silver 88% sterling. My liquid savings are 3.5 times my income stream. Regards ML

Thankyou for your reply, it is very much appreciated, especially your figure of investments in Pm, would you care to say the splits you hold. I think I will stay away from leveraged, probably feed in to position 10% a week on increasing strength of gold, by cashing in my other investments early. If you were to sit in any currency at the moment whilst feeding into gold which currency would it be? Question open to anybody. Regards ML.

Thankyou, I value your opinion very highly. I would only leverage up to the amount I am waiting to mature in a few months from other investments. So in effect investing today via leverage whats maturing tomorrow. Re comfort level, all I can say is the small amounts I hold in physical feel secure in comparison to printy printy sterling. The only worry I have is the threat to print more was made this resulted in a big price reaction with GBP falling heavily ! Should no printy printy arrive then price of this reaction is now being buit in already, and should an surprise inflation busting rate increase occur, then this would cause a double reaction, if you follow my reasoning? However gold is in a long term bull market as I see it so for the moment I SEE IT AS THE SAFEST OF PLACES TO BE? Regards ML.

Hi, I have way too much of my cash assets in sterling, I want to get more into gold, but have been waiting for a date for maturity and access to from a couple of policies. I have been like a scared rabbit in the headlights I can see what is coming but too scared to move! Until now and I want to move fast. I wouldn't feel comfortable with holding physical gold at home, more than a few coins I have bought bits but nothing substantial. A. Would it be advisable to buy mini contracts of the mini gold ie 33.2 ounces per contract I believe, or open a spread betting account and go long with the leaveraged cash available,whilst waiting for access to the cash without penalty. When the cash is then available,close the contacts out and convert to physical. B. Where would you store physical gold? Would a locked box at the local bank be ok, do banks do this? Reply by PM if more comfortable! C. What percentage of your liquid assets are in Gold Silver or other Currencies. I have decided on going upto 55% Gold 10% Silver 10% NKRONA 20% Dollar 5% Sterling Would this be areasonable spread in your opinion. All answers gratefully accepted in advance. All opinions sought. Regards ML. Ps. I Know this is basic stuff to some of you guys on here, so apologies in advance.

I feel that you are so right on that, somebody posted a list the other day of government holdings of physical, wouldn't be a shock if the current paper currencies are destroyed by hyperinflation, to be replaced by a "New World" gold backed or percentaged backed currency.Dollar debt/bonds to be say rebased to 25000:1 to the "new" one. Just remind me who holds the most physical gold in the world, and who holds the most Dollar paper debt and least gold? Regards ML.

What percentage of your investments are held in physical Gold? Hope this isn't to personal a question? Others please feel free to reveal your % Gold holding? Regards ML.

Great idea and if it pays off well done. I am buying in at a %base per month , but still reckon that it might see $780-980 RANGE before a strong move to the upside? Who knows ? All I know is I can't think of a better place to put my savings into other than either a farm, which I CAN'T AFFORD AS YET Or Gold. The plan is to double up untill the farm is affordable? Holding a reasonably large balance of GBP when QE is going on dosn't make sense to me! We are in strange times at the moment where debt is seen as good or promoted or protected by UK Government. Even though I have been Frugal all my life, GBrown has just given me and every other tax payer a £100k overdaft! Yet I HAVN'T SEEN ANY BENEFIT YET. I AM 80% CASH 20% GOLD Even though the gold POSITION/GBP is losing value, it feels safer than the cash, and I can't logically explain that!!! Best of luck with your trades. Regards ML.