drbubb Posted March 26, 2012 Report Share Posted March 26, 2012 This to me is exploitation - a rentier class. I am not dead-against this, after all I do own some shares, but I do feel that it is somewhat immoral to 'generate' rent by effectively forcing other people to work for you. Partly for this reason, I am happy to keep wealth in gold. Regarding the fakes issue, it has been dealt with many times, yes it is a risk, but nothing is risk-free (even the "risk-free rate", lol!!). To me , it's about mitigation (e.g. use reputable sources, store it in several places etc.) and due-dilligence. So long as some people have more capital than others. Those with capital will consider investing it in ways that the capital-poor are unable to do. Why not allow them to be free to "Rent" the fruits of their spending to others who have less, or don't want to take the risk of making the required investment Link to comment Share on other sites More sharing options...
ConvertedGoldBug Posted March 26, 2012 Report Share Posted March 26, 2012 2-3 more comments in favor (with none against), and I will combine them. Blimey... has everyone really deserted GEI ? That's not very helpful to the rest of us who valued their input. PS: I vote for keeping silver in its own thread. Link to comment Share on other sites More sharing options...
sylvester Posted March 26, 2012 Report Share Posted March 26, 2012 I'd like to see the two gold's combined and the silver left to itself. Link to comment Share on other sites More sharing options...
malvern hills Posted March 26, 2012 Report Share Posted March 26, 2012 This to me is exploitation - a rentier class. I am not dead-against this, after all I do own some shares, but I do feel that it is somewhat immoral to 'generate' rent by effectively forcing other people to work for you. Partly for this reason, I am happy to keep wealth in gold. Regarding the fakes issue, it has been dealt with many times, yes it is a risk, but nothing is risk-free (even the "risk-free rate", lol!!). To me , it's about mitigation (e.g. use reputable sources, store it in several places etc.) and due-dilligence. I feel your repugnance at 'making' other humans work for your living because they have no choice. But but but, this is capitalism. People who accumulate money, tend to accumulate more. Those who earn and spend, don't. I feel the same as you, and it is probably why I am still not rich. I really wish I could get over it, but it seems I am past saving. Every time I see a multi-millionaire government appointed toad trying to sell time with the PM for £250k, I want to vomit on his head. Oh well. Back to the telly. Link to comment Share on other sites More sharing options...
drbubb Posted March 27, 2012 Report Share Posted March 27, 2012 I'd like to see the two gold's combined and the silver left to itself. Okay. Enough "yeas", and no "neas" - so it is done now ! Link to comment Share on other sites More sharing options...
bitbigt Posted March 27, 2012 Report Share Posted March 27, 2012 Okay. Enough "yeas", and no "neas" - so it is done now ! Thanks! Link to comment Share on other sites More sharing options...
sylvester Posted March 27, 2012 Report Share Posted March 27, 2012 Okay. Enough "yeas", and no "neas" - so it is done now ! Yea! Link to comment Share on other sites More sharing options...
BlackPepper Posted March 27, 2012 Report Share Posted March 27, 2012 Just a question, for the physical hoarders, do you have to pay capital gains tax on your holdings? Link to comment Share on other sites More sharing options...
klogger Posted March 27, 2012 Report Share Posted March 27, 2012 Just a question, for the physical hoarders, do you have to pay capital gains tax on your holdings? It depends upon how you hold it. If you have bullion coin and you are required to pay GCT in the UK, then you don't pay CGT on the coins as they are counted as legal tender. If you hold gold in any other form, then you are required to pay CGT. Link to comment Share on other sites More sharing options...
sylvester Posted March 27, 2012 Report Share Posted March 27, 2012 No CGT in NZ :-) And I believe that bullion over 99% purity is tax free too. Link to comment Share on other sites More sharing options...
electroweak Posted March 27, 2012 Report Share Posted March 27, 2012 I feel your repugnance at 'making' other humans work for your living because they have no choice. But but but, this is capitalism. People who accumulate money, tend to accumulate more. Those who earn and spend, don't. I feel the same as you, and it is probably why I am still not rich. I really wish I could get over it, but it seems I am past saving. Every time I see a multi-millionaire government appointed toad trying to sell time with the PM for £250k, I want to vomit on his head. Oh well. Back to the telly. Yes, we live under capitalism, and I think that all in all, it is the best way of efficiently allocating capital and resources (environmentally, it can be a disaster though! Cheap oil makes it sensible to ship cr*p from the other side of the planet to us, only to have it's planned obsolesence kick in after a year or two and we chuck it away ). However, I don't like exploiting others. I just generally save in Gold and speculate a bit on the ratios of PMs. I like art and some numismatics, too. I like to think of share capital as money put up at risk to help a growing venture provide jobs or services that didn't exist before. That to me, is ok - just about reconcilable with the exploitation aspect. Trouble is, working like that your options (pun intended!) are severely limited. Link to comment Share on other sites More sharing options...
signofthetimes Posted March 27, 2012 Report Share Posted March 27, 2012 It depends upon how you hold it. If you have bullion coin and you are required to pay GCT in the UK, then you don't pay CGT on the coins as they are counted as legal tender. If you hold gold in any other form, then you are required to pay CGT. AFAIK you only pay when you sell any, less your annual allowance (approx 10k single or 20k joint) Link to comment Share on other sites More sharing options...
halight Posted March 27, 2012 Report Share Posted March 27, 2012 Abandoning Gold Helped Dollar Gain Preeminence http://www.bloomberg.com/news/2012-03-26/abandoning-gold-helped-dollar-gain-preeminence-part-2-.html This says its part two. I have had a look and i can not find part one. Still its worth a read. Link to comment Share on other sites More sharing options...
halight Posted March 27, 2012 Report Share Posted March 27, 2012 Ned Schmidt: Gold Going Through Corrective Phase−Relax and Build Some Cash There will be better buying opportunities later this summer http://www.financialsense.com/financial-sense-newshour/guest-expert/2012/03/27/ned-w-schmidt-cfa/gold-going-through-corrective-phase-relax-and-build-some-cash Link to comment Share on other sites More sharing options...
Errol Posted March 27, 2012 Report Share Posted March 27, 2012 We have entered the most favourable era for gold prices in our lifetime, and the share prices of the great mining companies will eventually outperform bullion prices...central banks are printing money and creating liquidity beyond the forecasts of all but the most paranoid goldbugs a year ago Don Coxe, Strategy Advisor BMO (Bank of Montreal) Financial Group Link to comment Share on other sites More sharing options...
aardvark Posted March 27, 2012 Report Share Posted March 27, 2012 Just a question, for the physical hoarders, do you have to pay capital gains tax on your holdings? coins which are legal tender (sovereigns and britannias) are exempt from CGT - everything else isn't. Link to comment Share on other sites More sharing options...
halight Posted March 27, 2012 Report Share Posted March 27, 2012 The Price of Gold: The History of Sound Money in 112 Seconds http://silverdoctors.blogspot.co.uk/2012/03/price-of-gold-history-of-sound-money-in.html?utm_medium=twitter&utm_source=twitterfeed Link to comment Share on other sites More sharing options...
halight Posted March 27, 2012 Report Share Posted March 27, 2012 Turkish Central Bank Doubles Lenders' Gold Reserve Ratio to 20% http://silverdoctors.blogspot.co.uk/2012/03/turkish-central-bank-doubles-lenders.html Link to comment Share on other sites More sharing options...
BlackPepper Posted March 27, 2012 Report Share Posted March 27, 2012 coins which are legal tender (sovereigns and britannias) are exempt from CGT - everything else isn't. Interesting, so you can use these coins to purchase goods say in your local grocer? I am still investigating our tax regulations relating to hoarding gold. Link to comment Share on other sites More sharing options...
BlackPepper Posted March 27, 2012 Report Share Posted March 27, 2012 We have entered the most favourable era for gold prices in our lifetime, and the share prices of the great mining companies will eventually outperform bullion prices...central banks are printing money and creating liquidity beyond the forecasts of all but the most paranoid goldbugs a year ago Don Coxe, Strategy Advisor BMO (Bank of Montreal) Financial Group When I hear or read articles or public statements like this, to me it is usually a sign to exit. Link to comment Share on other sites More sharing options...
klogger Posted March 27, 2012 Report Share Posted March 27, 2012 Interesting, so you can use these coins to purchase goods say in your local grocer? In theory and assuming that the grocer will accept them, but the face value of a 1oz Britannia is £100 so it is not sensible to do so. Link to comment Share on other sites More sharing options...
Carlton Posted March 28, 2012 Report Share Posted March 28, 2012 When I hear or read articles or public statements like this, to me it is usually a sign to exit. Usually. But the mining shares are already in the gutter. Although I still have much more faith in bullion than the miners. Link to comment Share on other sites More sharing options...
romans holiday Posted March 28, 2012 Report Share Posted March 28, 2012 Usually. But the mining shares are already in the gutter. Although I still have much more faith in bullion than the miners. Yes, and not many gold bugs were predicting that. The idea was mining stocks would simply 'leverage' the rise in the gold price itself. Link to comment Share on other sites More sharing options...
aardvark Posted March 28, 2012 Report Share Posted March 28, 2012 In theory and assuming that the grocer will accept them, but the face value of a 1oz Britannia is £100 so it is not sensible to do so. and sovs are 'worth' one pound, so not a good idea. of course all the gov has to do to get tax off them is to declare them no longer legal tender but they haven't shown any sign of doing that in the last 100 years so its relatively unlikely imo Link to comment Share on other sites More sharing options...
InternationalRockSuperstar Posted March 28, 2012 Report Share Posted March 28, 2012 ... There are potential "holes" in the argument for Gold. It is best not to forget that. a $10 ohmmeter from Radioshack would have spotted that. Link to comment Share on other sites More sharing options...
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