HPCsoYESTERDAY Posted December 11, 2008 Report Share Posted December 11, 2008 Nor am I, but last time they came together they were below the actual price. Would that suggest anything different? hmmm, didn't think of that! at the least I would assume that a plateau is forming with the averages, a floor or a ceiling?! maybe Obama's stimulus package next year will decide Link to comment Share on other sites More sharing options...
dietcolaaddict Posted December 11, 2008 Report Share Posted December 11, 2008 Hmmmm, I came across this site through a google search and thought it might raise an eyebrow....... http://www.goldpricecrash.com/ "We believe gold investment is a mug's game. It's not a sensible long term investment. It's a hedge in tough and uncertain times. But there are those on our forums who disagree." Link to comment Share on other sites More sharing options...
grumpy-old-man Posted December 12, 2008 Report Share Posted December 12, 2008 have any of you got gold stored in Switzerland still? Switzerland the next Iceland ? surely not. :unsure: Link to comment Share on other sites More sharing options...
sash777 Posted December 12, 2008 Report Share Posted December 12, 2008 You mean the dip from $1,500 to $1,350? Yes, why not? Sell now, wait until it goes to $1,500, and then buy the dip at $1,350. No problem. It won't go straight up all the way, and in any case even a dip like that is more likely than any sort of dip in £. I wasn't suggesting anyone short Gold but just that if you have cash in GM it's probably better off being in $ than £. Link to comment Share on other sites More sharing options...
THEBIGMAN Posted December 12, 2008 Report Share Posted December 12, 2008 Not sure if this is a bullish sign or not... http://petitions.number10.gov.uk/goldanthem/ Link to comment Share on other sites More sharing options...
allyjcambo Posted December 12, 2008 Report Share Posted December 12, 2008 Mine listens. The other day he bought 5 of these 1kg Kangoroos (silver!). Anyway, the rest of the family listens too, but takes no action. GF, if you had to persuade someone of the merits of PMs over GBP in under 100 words how would you do it? As I mentioned above, I have tried to use the analogy of the pound being like a company whose dividends and share price are falling but unfortunately that has failed to persuade my father. Anyone else got any succinct analogies? Link to comment Share on other sites More sharing options...
grumpy-old-man Posted December 12, 2008 Report Share Posted December 12, 2008 GF, if you had to persuade someone of the merits of PMs over GBP in under 100 words how would you do it? As I mentioned above, I have tried to use the analogy of the pound being like a company whose dividends and share price are falling but unfortunately that has failed to persuade my father. Anyone else got any succinct analogies? yes but it will cost you £20. Take your father into his garden & set fire to a £20 note right in front of him. Then tell him this is what's happening to his savings, but he doesn't get to see the burning or smell the smoke. Trust me I am in exactly the same situation as we have discussed before. I have actually thought of doing this to them, but it's actually my step father & we don't get on at all. My mother doesn't want to discuss financial matters as he handles everything. That's why they are fooked. Link to comment Share on other sites More sharing options...
Steve Netwriter Posted December 12, 2008 Report Share Posted December 12, 2008 GF, if you had to persuade someone of the merits of PMs over GBP in under 100 words how would you do it? As I mentioned above, I have tried to use the analogy of the pound being like a company whose dividends and share price are falling but unfortunately that has failed to persuade my father. Anyone else got any succinct analogies? How about facts, not prediction ? He has lost...... Link to comment Share on other sites More sharing options...
grumpy-old-man Posted December 12, 2008 Report Share Posted December 12, 2008 ok, how about whilst burning the £20 note, hold Steve's graph on an A3 printout. Link to comment Share on other sites More sharing options...
romans holiday Posted December 12, 2008 Report Share Posted December 12, 2008 ok, how about whilst burning the £20 note, hold Steve's graph on an A3 printout. ... while whistling the tune "London bridge is falling down". I have found "gold is a solid and alternative currency" to have had some success. I will be trying this line on my parents this summer. Link to comment Share on other sites More sharing options...
wren Posted December 12, 2008 Report Share Posted December 12, 2008 GF, if you had to persuade someone of the merits of PMs over GBP in under 100 words how would you do it? As I mentioned above, I have tried to use the analogy of the pound being like a company whose dividends and share price are falling but unfortunately that has failed to persuade my father. Anyone else got any succinct analogies? Graphs are better than words. 1) UK house prices in gold ounces 2) DOW/gold ratio 3) GBP price of gold 4) inflation adjusted price of gold back to the '70s at least About 3, people would say "Ooh, it's gone up a lot, it looks like a bubble!" This is where the inflation adjusted price is important. It's nowhere near bubblish, it was just recovering from massive undervaluation. And note that global gold production has been dropping since c. 2003 in the face of much increased gold prices. Also miners' costs have increased a lot in the last few years. Link to comment Share on other sites More sharing options...
allyjcambo Posted December 12, 2008 Report Share Posted December 12, 2008 Graphs are better than words. 1) UK house prices in gold ounces 2) DOW/gold ratio 3) GBP price of gold 4) inflation adjusted price of gold back to the '70s at least About 3, people would say "Ooh, it's gone up a lot, it looks like a bubble!" This is where the inflation adjusted price is important. It's nowhere near bubblish, it was just recovering from massive undervaluation. And note that global gold production has been dropping since c. 2003 in the face of much increased gold prices. Also miners' costs have increased a lot in the last few years. Thank you COM, RH, Steve and Wren. I'll use a combination of your suggestions (although not the £20 on fire one, GOM (at least not literally)!) and let you know how I get on. The other one I used with him a few months' ago was asking the rhetorical (to me anyway) question "if you have the choice of burying £1,000 of cash or £1,000 of gold which you could only retrieve in 5 years time- what would you chose?". I thought that was quite a good way of illustrating my point and to be fair he didn't disagree. Any yet, no change! Link to comment Share on other sites More sharing options...
allyjcambo Posted December 12, 2008 Report Share Posted December 12, 2008 Graphs are better than words. 1) UK house prices in gold ounces 2) DOW/gold ratio 3) GBP price of gold 4) inflation adjusted price of gold back to the '70s at least About 3, people would say "Ooh, it's gone up a lot, it looks like a bubble!" This is where the inflation adjusted price is important. It's nowhere near bubblish, it was just recovering from massive undervaluation. And note that global gold production has been dropping since c. 2003 in the face of much increased gold prices. Also miners' costs have increased a lot in the last few years. P.S. Re point 3, this is the chart I am going to use. http://gold.approximity.com/Gold_GBP_nominal_real.PNG Link to comment Share on other sites More sharing options...
romans holiday Posted December 12, 2008 Report Share Posted December 12, 2008 Gold well up... platinum down. imo this will be an ongoing pattern for some time as long as deflation remains in the driver's seat. may be able to swap an ounce of gold for two ounces of platinum in the early half of next year some time. Who would have believed that a few months back. Link to comment Share on other sites More sharing options...
sash777 Posted December 12, 2008 Report Share Posted December 12, 2008 Where the hell is our Friday smackdown? Link to comment Share on other sites More sharing options...
romans holiday Posted December 12, 2008 Report Share Posted December 12, 2008 Where the hell is our Friday smackdown? Now that the wheels are well and truly starting to fall off the economy, surely the PTB would have to realise the gig is up soon. How can they keep up appearances, by smacking gold down, when it is becoming increasingly obvious to all that the real economy has broken down. Bank of America just lost 35,000 jobs. Looks like GM [so goes America] may go bankrupt. etc etc etc. Link to comment Share on other sites More sharing options...
FWIW Posted December 12, 2008 Report Share Posted December 12, 2008 Thank you COM, RH, Steve and Wren. I'll use a combination of your suggestions (although not the £20 on fire one, GOM (at least not literally)!) and let you know how I get on. The other one I used with him a few months' ago was asking the rhetorical (to me anyway) question "if you have the choice of burying £1,000 of cash or £1,000 of gold which you could only retrieve in 5 years time- what would you chose?". I thought that was quite a good way of illustrating my point and to be fair he didn't disagree. Any yet, no change! AJC - could you print this out and leave it lying around? http://i34.tinypic.com/2zp15hz.jpg Just as an experiment to see the reaction! Link to comment Share on other sites More sharing options...
marmite Posted December 12, 2008 Report Share Posted December 12, 2008 Where the hell is our Friday smackdown? Year end is approaching very fast, only about 11 trading days left and some of those may be half days. Who wants to be short over the xmas period ???? People are paying for short term bills. It is all about return off money and not return on money over the year end. I dont think we will see smack downs over the next few trading sessions. But im probably wrong Link to comment Share on other sites More sharing options...
allyjcambo Posted December 12, 2008 Report Share Posted December 12, 2008 AJC - could you print this out and leave it lying around? http://i34.tinypic.com/2zp15hz.jpg Just as an experiment to see the reaction! I can and I will. Do you mind if I pass it off as my own! Just kidding, it must have taken an age to produce. Link to comment Share on other sites More sharing options...
wren Posted December 12, 2008 Report Share Posted December 12, 2008 P.S. Re point 3, this is the chart I am going to use. http://gold.approximity.com/Gold_GBP_nominal_real.PNG That's a good one. Another idea. Last month, I think, in the gold thread I posted a link to a thread on the Kitco forum started by an Icelandic gold bug. He used to talk about gold to family and collegues, who thought he was a bit of a nutter. He started the thread about Iceland and people losing savings, having mortgages and car loans etc, go up, all that stuff. If I find the link I'll post it here. This is real grassroots stuff. He put most of his savings into gold and silver (GM I think) and thereby protected them. This might get people thinking if they read that thread. On edit: Iceland thread at Kitco started 28 Oct: https://www.kitcomm.com/showthread.php?t=26956 Yes, my gold is outside of Iceland. I will sell it and transfer (electronically) the proceeds of it to Iceland when the time is right. Googling I found an Iceland Pt. 3 thread started 1 Dec: https://www.kitcomm.com/showthread.php?t=29208 Link to comment Share on other sites More sharing options...
FWIW Posted December 12, 2008 Report Share Posted December 12, 2008 I can and I will. Do you mind if I pass it off as my own! Just kidding, it must have taken an age to produce. It was easy as I was standing on the shoulder's of giants! http://video.google.com/videoplay?docid=-8484911570371055528 Created the diagram to help myself understand it all and to see if it was of use to the common man in order to get interested! Yeah, you can pass it off as your own, but then people will start to look at you strangely! Link to comment Share on other sites More sharing options...
grumpy-old-man Posted December 12, 2008 Report Share Posted December 12, 2008 P.S. Re point 3, this is the chart I am going to use. http://gold.approximity.com/Gold_GBP_nominal_real.PNG that's a great chart to use AJC. you can see where the squiggly line will be going next. Link to comment Share on other sites More sharing options...
headmelter Posted December 12, 2008 Report Share Posted December 12, 2008 doh! I'm working too hard at the mo, that's my excuse headmelter check out the link as well..... There has to be a way of avoiding that VAT charge. :rolleyes: Link to comment Share on other sites More sharing options...
Pixel8r Posted December 12, 2008 Report Share Posted December 12, 2008 There has to be a way of avoiding that VAT charge. :rolleyes: Buy it through a VAT registered company. Link to comment Share on other sites More sharing options...
kernull Posted December 12, 2008 Report Share Posted December 12, 2008 Link to comment Share on other sites More sharing options...
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