GOLD

[warpig]

I bottled it and bought back in, I couldn't wait for the correction.... I feel safe again!

[Pixel8r]

I bottled it and bought back in, I couldn't wait for the correction.... I feel safe again!

 

Back into BV or some coins?

[warpig]

A mixture of Britannias and Krugerrands, the way this is going I don't really trust anything else.

 

Back into BV or some coins?

 

[Mr Pipples]

A mixture of Britannias and Krugerrands, the way this is going I don't really trust anything else.

 

What did you pay and where from - if you don't mind me asking.

[Pluto]

Presumably they are nervous because they are tax evaders.

 

Again, to get to this stage with the gold holdings that people on this board possess (assuming you're not tax evaders, of course! ) , the government would have to criminalize the private holding of gold. They would also have to dismantle or neutralize the judicial system, as I'm sure people considerably richer than moi would take the matter of private gold seizure to the House of Lords.

 

Also, that quote referred to handing over records, not the gold holding itself. The UK government can get the records from BV anyway and will have records if you have exceeded the £5,000 and £10,000 limits for gold purchases from a dealer.

 

Taking this a bit further, the only way I can see that you could disappear from the radar completely is to have bought your gold in chunks of less than £5,000 per dealer for cash and then store it out of the banking system (which does increase the risk of robbery). eBay would leave a trail. However, if gold holding is declared illegal in this country, you would then have to leave and take your gold holding with you. In which case, you'd better not be one of those people who sweat a lot when you're under pressure

 

Once upon a time a swiss bank account assured complete privacy. The fact that they did what the US federal government told them to do is the point you and many others are missing and the one I am trying to emphasize.

[warpig]

No problem. I bought Krugerrs at about £600 and Britannias at about £615 from a mixture of dealers.

 

WeightonCoins still have 17 Britannias left if anyone is looking for some.

 

What did you pay and where from - if you don't mind me asking.

 

[GTG]

Like I've said before, I rate GM a little over BV cause:

• C.I. based,
• 'simpler' process for physical collection (though my view on this has changed recently - re. silver bars collection constraints)
• gg transfers. This facility might offer real potential... Someone commented on this over on the Letters of Credit thread.

 

Re. Viamat - a question... (I've asked them directly but, emails really aren't their strong point. Last reply I got from them didn't answer question and included a response to another clients storage query - along with item details! )

 

As Viamat are a member of the LBMA, does that mean that all Viamat storage locations are covered under the LBMA 'chain of integrity' or just some?

 

If bullion is moved, by Viamat, between Viamat's different storage locations (Viamat, Kloten to Viamat, Zurich Airport and back again), would the bullion remain within the LBMA members chain of integrity - and, therefore, would not require re-assaying at any point?

Thanks.

That is a very good question IMO, if bullion can be transfered between Viamats' Zurich airport facility and BVs' Viamat swiss account (under bailment conditions) without breaking the chain of integrity it could be held outside of UK legal jurisdiction.

 

Anyone......

 

One other thing which I think I'm correct in saying is that any monies held in cash with GM will not be covered by the FSCS in the event of the offshore bank they use going bust, Cater Allen I believe?

 

On the dichotomy companies find themselves with regard to letters of credit, I wonder if anyone has told them to investigate the possibility of transacting through GM. This would gave those companys the edge and encourage others into the fold and could be the catalyst to bringing gold back as real money by popular demand. That would send the anal fribrillations of the banking establishment off the chart.

[tl8177]

Can anyone recommend any nice coin cases? The packaging they arrive in are quite feeble a lot of the time.

 

I also have some new coins that are sealed in a plastic case. Are these worth more if I keep them in this case, so I don't get my grubby paw prints all over them? They don't strike me to be a great case over time.

[Compounded]

I get the sense that all the parts have now been set in motion and can only play themselves out. I just feel like a spectator now; what was before an intellectual exercise has now turned into a sense of foreboding.. or dare I say dread.

 

It is like watching a train crash.... in slow motion. All that remains is to see which side of the tracks the wreckage will go.

 

It's the slowness that is so deceptive - it obscures the seriousness of the unfolding calamity.

 

 

Presumably they are nervous because they are tax evaders.

 

Again, to get to this stage with the gold holdings that people on this board possess (assuming you're not tax evaders, of course! ) , the government would have to criminalize the private holding of gold. They would also have to dismantle or neutralize the judicial system, as I'm sure people considerably richer than moi would take the matter of private gold seizure to the House of Lords.

 

Also, that quote referred to handing over records, not the gold holding itself. The UK government can get the records from BV anyway and will have records if you have exceeded the £5,000 and £10,000 limits for gold purchases from a dealer.

 

Taking this a bit further, the only way I can see that you could disappear from the radar completely is to have bought your gold in chunks of less than £5,000 per dealer for cash and then store it out of the banking system (which does increase the risk of robbery). eBay would leave a trail. However, if gold holding is declared illegal in this country, you would then have to leave and take your gold holding with you. In which case, you'd better not be one of those people who sweat a lot when you're under pressure

 

I am hoping so few have physical gold that the UK government will not bother to confiscate.

 

 

It (comex default rally) could still happen, but my hunch is that the cartel have something up their apron to forestall it...

 

It would be amazing if they hadn't.

 

A big smackdown coinciding with an anticipated rally due to comex default is what I would do if I had the task of suppressing the gold price.

 

 

[Mr Pipples]

Is The End Of The COMEX Nigh? By Andy Hoffman - http://news.goldseek.com/GoldSeek/1228061100.php

 

Last paragraph:

 

I am not naïve enough to believe the Cartel is not aware of this potential “situation” on the COMEX, and will likely do everything in their power to prevent it from happening. But the December contract will likely see them face some stiff competition, perhaps the most they have experienced yet. And even if it doesn’t happen now, the odds of it occurring in the near-future are rising exponentially, especially given the escalating nature of the financial crisis and its accompanying bailouts.

[signofthetimes]

a 'heads up' for those of you wanting a nice 1oz coin sub £600. Currently selling at £570, not bad for an ounce of gold coin

 

http://coininvestdirect.com/main.php?a=11&id=290

 

 

(thats if there's any left after my order )

 

 

 

edited to ad a pic (sorry, not a good one I know) as there isn't one on CID yet

[signofthetimes]

A big smackdown coinciding with an anticipated rally due to comex default is what I would do if I had the task of suppressing the gold price.

 

funny, thats exactly what Thursdays graph looked like !

[qwerty]

Presumably they are nervous because they are tax evaders.

 

 

Also, that quote referred to handing over records, not the gold holding itself. The UK government can get the records from BV anyway and will have records if you have exceeded the £5,000 and £10,000 limits for gold purchases from a dealer.

 

Taking this a bit further, the only way I can see that you could disappear from the radar completely is to have bought your gold in chunks of less than £5,000 per dealer for cash and then store it out of the banking system (which does increase the risk of robbery). eBay would leave a trail. However, if gold holding is declared illegal in this country, you would then have to leave and take your gold holding with you. In which case, you'd better not be one of those people who sweat a lot when you're under pressure

 

This has all been covered before many times .

 

There currently is no department to report your purchases too!.

 

Current legislation requires that where gold is physically delivered to British citizens in a sum exceeding £5,000 in one transaction (or aggregating £10,000 in a full year) then a report must be filed with HM Revenue and Custom's 'Gold Team'.

 

But the Gold Team no longer exists, so although the legislation remains there is no practical way of obeying it.

[G0ldfinger]

http://gold.approximity.com/gold_charts.html

 

[qwerty]

I have never seen this posted anywhere an Islamic Goldmoney based in Dubai which allows you not only to send payments etc but convert your holdings of gold and silver into physical metal and take delivery!.

 

http://www.e-dinar.com/html/

[Pluto]

Is The End Of The COMEX Nigh? By Andy Hoffman - http://news.goldseek.com/GoldSeek/1228061100.php

 

Last paragraph:

 

Before COMEX defaults we're likely to see another major investment house go under. Don't buy on the COMEX defaulting play - not yet anyway.

[G0ldfinger]

[narco]

Nice double top on the sterling chart.

 

I'm not buying gold at £600+ for a coin, nice joke. Supply is just now starting to come on the market and Sterling is way overdue a dead cat bouce.

[Errol]

Nice double top on the sterling chart.

 

I'm not buying gold at £600+ for a coin, nice joke. Supply is just now starting to come on the market and Sterling is way overdue a dead cat bouce.

 

Why not? I'm expecting in excess of £1000 per ounce within a couple of years.

[id5]

This has all been covered before many times .

 

There currently is no department to report your purchases too!.

 

That used to be the case but things seem to be changing, I am trying to got some clarification on this from the VAT Financial & IPT Team that have taken over the role in HMRC.

 

[G0ldfinger]

Nice double top on the sterling chart.

...

Or, the other interpretation: 2x 550 tested, 3rd time will be successful.

 

I don't really trust Sterling, especially now that the bond markets start having trouble. I guess from a 'technical' point of view some kind of bear rally could be due. But what do I know.

[narco]

Why not? I'm expecting in excess of £1000 per ounce within a couple of years.

I agree 100% but my short term reasons are 3 fold.

 

1) UK dealers are taking the piss with premiums. This is probably due to a lack of supply over here but check out apmex.com in the US and look at their spreads

 

2) Sterling is toast but it will surely get a significant bounce at some point before the decline continues.

 

3) If our coin prices don't correct then that's fine. I'm well stacked anyway.

[azazel]

coin invest direct have some 1 ounce nobles for £740 with a VAT rate of 19%. If the Vat rate goes down to 15% next week they will be a £715. I might buy some if that is the case.

 

http://coininvestdirect.com/main.php?a=11&id=292

 

Goldline have 1 ounce platinum bars for £764 as a comparison.

[seekingclarity]

I don't think anywhere is safe now - not Zurich, not Dubai, not Singapore, not the Caymans, not even Guernsey/Jersey/IOM - all can, have, and WILL be leaned on. Iran had the right idea exiting all their EU bank accounts and going all gold - Iraq was not quick enough and had the lot stolen by Rumsfeld and Co...

 

 

IMO Panama is still probably the best right now.

[bitbigt]

A prediction for October [herein updated for November]...

- DOW and FTSE may have (at best) a small relief rally (due to ramped up bank bale outs, plus many rate cuts globally). But banks are shot as a long term investment theme, and general earnings across many sectors will dissapoint. So by months end DOW and FTSE will be no higher than today, and perhaps as low as (or will have touched) 9500 and 4000 respectively. These numbers are still 10-20% above the absolute bottoms that will be reached briefly during the next 6-12 months.

...that relief rally happened, and has peaked. Watch out below! Probably heading back down most of the way to last months lows again in November.

- 50% chance of a bank holiday week

...didn't happen, and was anyway only a 50:50 option. Now probably won't happen, as the govs have made it clear they will bail out regardless.

- dramatic emergency base rate cuts happen globally (BoE may even announce 0.5% today, 1 day earlier than expected)

...happened, and still far more to come as they race to the bottom. Expect another 0.5-1.0% off UK rates in November.

- Sterling will fall further, reaching 1.65 vs USD. After this month, the dollar will tank.

...I was too optimistic! Looking for 1.40 this month, and the USD then starting to weaken

- I think we'll see oil at 75-80 this month, and over the next 6 months it may even touch 65-70 [and if so, load up!!!!!].

...too optimistic on this one also! Oil now at around 55-60, and I think we'll see 50 before this month ends [bTW: I did load up at 70, and will do so again if/when oil goes below 50]

- Western inflation fails to drop significantly this month, and UK CPI may actually exceed 5%. Longer term they're on there way up [and note: real CPI from shadowstats is already >13%]

...OK, I now accept we'll see something of a fall in inflation (only because oil has come down so much more than I expected), but it will be transient! Big inflation problems will be with us by mid/end 2009

- all the above will cause a ramp up in fear, and gold will rally further (950-1000 in USD, >550 in GBP, by months end)

...right about the fear going up, but the PPT and the deflation concerns have held gold back. There's now now (or very little) further downside in PoG, and as soon as dollar starts to turn South, oil and PMs will shoot up (next month or two). And note, gold did hit 550 in GBP, and still hovers around 500!

- The leadership on banks (amounts and strategy) shown by Alister Darling today is excellent. It will lead the way for countries out of this current pannick

...sure did. But this has now gone to Brown's head, and he thinks he can coordinate a global wave of tax cuts and fiscal stimulation. He will fail to get sufficient universal support , and problems will follow from that failure

I'll give my crystal ball 7/8 on November (...if you want your own, I'll let you have one for just £50, inc P+P), and just look what it's telling me for December...

- Having fallen to new lows, and risen again, the DOW and FTSE will remain bouyant (at least most of) December - but they are still likely to see far lower new lows over next few months

- Further emergency base rate cut in UK, down as much as 1% further (at least 0.5%)

- Sterling will not fall with respect to USD, whilst USDX will fall back to mid or low 80's

- Price of oil will creep up, just reflecting the weakenning USD. In Q1/2 2009 we will see oil at USD 40 for a brief (intraday?) period

- Western inflation falling further (cpi at 3.5 - 4%), but it will be transient! Big inflation problems will be with us by mid/end 2009

- Something big seems likely to happen in PoG: a >$100 move. Either a big smack down, or a big rise as COMEX gets stressed (but not broken) by demands for delivery. My guess is it will be the latter. Weakenning USDX will help this move.

- More examples of govs bailing out any and all 'too big to fail' companies (finance and US car makers), ensuring a long inflationary rather than a short deflationary recession

- People will start to realise that Broones ideas for a gobally coordinated wave of fiscal stimulation are not really happening (UK or anywhere), and that such an approach is anyway as effective pushing on a string. This will decrease confidence in Western economies further, and push up government bond yields. That is the start of a massive Western currency depreciation that will put 2009 into the history books.