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Got it -

 

The wavelike movement affecting the economic system, the recurrence of periods of boom which are followed by periods of depression, is the unavoidable outcome of the attempts, repeated again and again, to lower the gross market rate of interest by means of credit expansion. There is no means of avoiding a final collapse of a boom brought about by credit expansion. The alternative is only whether the crisis should come sooner as a result of a voluntary abandonment of further credit expansion, or later as a final and total catastrophe of the currency system involved.

 

oops noticed after posting.

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I have to say rh, that this is rather unfair on fitkid. It's like sending off one of your centre forwards when they have hit a patch of form. Fitkid is a rooney, a tevez but has a heart of gold (ho ho).

it was wrong of the other guy to wind him up about the bilberries (a great thread in itself) and at least Fitkid speaks passionately about what he believes in...he may well be right about the paper profits too.

A good manager/moderator would be wise to his antics/personality.

Bring him back on please. Gei needs his commentry, esp over the next few days IMHO.

I agree RH has been too harsh on fitkid.

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Your Joking,i am still buying at am or pm fix on sovereigns,its like everything you need to know where to go and its all about who you know.Hockley Birmingham the UK's largest gold centre BY FAR has several dealers who are working on 1-1.5-2% above am or pm fix.ANYBODY BUYING FROM ATS, CHARD's or BAIRD's have not done their homework.Probably a few years ago now, on this thread i told people were to go to get metal at fix or just over.The Market is FEROCIOUSLY competitive.

I managed to acquire some physical metal today from my PREFERED supplier but no where near enough to complete my order.

 

 

Cheers Fk, for the pointer, to be fair my very modest amount of Gold is in an allocated account, due to that’s where I think it is safest. However I did buy a couple of sovs to hold in hand from Bairds sometime back ,.

 

I guess that’s why we come on here to learn from each other, and is probably why Baird are one of the few left with any stock!!

 

By the way I am with you re the paper and its worth!

 

Regards

 

ML

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Posting privileges are suspended for a few days. Cool off a bit and come back posting in a more civil manner.

 

A disgraceful example of partisan moderation. Fitkid is a great contributor - to prevent him posting is an insult to everyone here.

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I agree RH has been too harsh on fitkid.

 

Far too harsh.

FK is great, but sometimes he needs the feminine touch :)Mikoto_and_Sasuke_Spanking_by_Saske224.png

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Posting privileges are suspended for a few days. Cool off a bit and come back posting in a more civil manner.

 

 

Unnecessary.

 

Moderating privileges are suspended for a few days. Cool off a bit and come back moderating in a more civil manner.

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Your were ridiculing my investment choices. I ridiculed you back....fair game?

 

Seriously FK, you have made a number of very constructive posts over the last few weeks and i thought that i had got you wrong, but then you resort to your favourite tactic of ridiculing and humiliating other posters????

 

FFS, stop digging, and as someone else pointed out, get yourself some self awareness!!!

 

 

 

LOL. True dat!

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As of this morning the Royal Mint had 2011 sovereigns down as "awaiting stock", but they were still available to order for delivery within 21 days @ £285

 

As of this afternoon they're no longer listed. Looks like the mint price and the bullion price were geting a little too close for comfort :)

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sovereigns

 

That is some ugliest looking piece. Sometimes adding a touch of beauty to the investment pays. I take a bufflo, panda or maple over them sovereigns. CGT or not.

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Got it -

 

The wavelike movement affecting the economic system, the recurrence of periods of boom which are followed by periods of depression, is the unavoidable outcome of the attempts, repeated again and again, to lower the gross market rate of interest by means of credit expansion. There is no means of avoiding a final collapse of a boom brought about by credit expansion. The alternative is only whether the crisis should come sooner as a result of a voluntary abandonment of further credit expansion, or later as a final and total catastrophe of the currency system involved.

 

Yup that's the one!

Pure prose.

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The bull case for gold

 

Finally some quality reporting...

 

Gold is rising because the world's monetary system is being debased – and there is no sign of this stopping.

 

Gold is not a commodity it is a currency – and the devaluation of paper money by money printing is making it more and more attractive. The metal was desirable long before the concept of money was ever invented - and it has been used as a medium of exchange for thousands of years. (The first gold coins were minted in Lydia, in modern-day Turkey, in 610 BC).

 

The money in your pocket is effectively worthless. The government declares it as legal tender and will accept taxation payments with this bill of exchange but the £5 note is no longer backed by anything. When push comes to shove, a £5 note is just a piece of paper and ink with no intrinsic value at all. It certainly isn't worth £5.

 

Fiat currencies are not backed by gold. When most currencies were on the gold standard, a unit of currency could be exchanged by central banks for a fixed weight of gold. That way, paper money could be used instead of using gold or silver coins.

 

The world's monetary system used to be backed by gold – until Richard Nixon scrapped the dollar's convertibility into gold 40 years ago. This made the dollar the defacto reserve currency, but successive administrations have mismanaged government policy and the US economy is now drowning in a sea of debt.

 

Because of the policy responses to the current crisis, the world's reserve currency is becoming less desirable – and there's no sign of the US sorting this problem out. Friday's S&P downgrade of the US's credit rating emphasised this.

 

Discussing the S&P downgrade of US debt, Commerzbank said this morning: "It is a clear signal to market players that also government bonds do not offer complete security." They don't offer real security because they are all based on fiat currencies. The only real alternative is gold.

 

The history of fiat currencies is unsurprising. All have failed. The Roman denarius, a silver coin, was diluted from 100pc silver to 84pc, then 43pc and finally to 0.05pc until nobody would take the coin as a means of exchange because it had no value.

 

Scottish economist John Law became the most hated man in France 300 years ago. He had to flee to Italy after introducing a fiat currency that almost brought the country to its knees. History shows that fiat money loves failure.

 

Gold is by no means expensive. Its inflation-adjusted high, reached after the 1970s oil crisis, is about $2,300. Central banks around the world – including China and South Korea are buying again - and investor demand couldn't be higher.

 

Gold is a safe haven in turbulent times – and it is going to take years to untangle the mess that has been made of the world's financial system.

 

Gold is the only alternative to fiat money – and that's why it will move higher.

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Over the last day gold has had five attemps to breach the $1.764 level. Each time it breaches $1,764, it promptly gets knocked back down again only to have another attempt a few hours later.

 

I've watched this twice and I still don't get the significance of the $1,764 figure, except that Sinclair says it is derived from a 1920s newspaper article by Jesse Livermore and "it's mathematical".

 

It would be nice to think Jim's right, but his justification of the significance of the $1,764 price level in this interview could hardly be any vaguer . . .

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I've watched this twice and I still don't get the significance of the $1,764 figure, except that Sinclair says it is derived from a 1920s newspaper article by Jesse Livermore and "it's mathematical".

 

It would be nice to think Jim's right, but his justification of the significance of the $1,764 price level in this interview could hardly be any vaguer . . .

 

I believe it's based on a price pattern called the "Sum of Squares" that Livermore used to forecast moves in new stock issues. Sinclair has often stated that he believes this applies to gold. It's a bit mystical and enigmatic but hey, that's Jim Sinclair. I believe $1764 is a 7-fold move from the bottom, which is supposedly a threshold that once broken will usher in the parabolic phase.

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I believe it's based on a price pattern called the "Sum of Squares" that Livermore used to forecast moves in new stock issues. Sinclair has often stated that he believes this applies to gold. It's a bit mystical and enigmatic but hey, that's Jim Sinclair. I believe $1764 is a 7-fold move from the bottom, which is supposedly a threshold that once broken will usher in the parabolic phase.

Sometimes things appear that they act as resistance because he has said so in advance.

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£1110, getting on for £1000 gain since lunchtime! Sovereigns approaching £300 but I aint selling until at least £500 each.

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