Steve Netwriter Posted March 15, 2008 Report Share Posted March 15, 2008 Pluto points out that we are in the midst of global financial disaster. And yet I LOL. Cheers. We tried. Ana Vidovic is a talented classical guitarist (Slavic from the name, I don't know the nationality). But here she plays Asturias on YouTube: She plays very well, but didn't mention gold once Steve Link to comment Share on other sites More sharing options...
HPCSucks Posted March 15, 2008 Report Share Posted March 15, 2008 The quality of thread on HPC.co.uk is as good as ever I see. http://www.housepricecrash.co.uk/forum/ind...showtopic=70788 I really think they have stopped thinking. They ignore everything not fitting in with their view of how things should be. Link to comment Share on other sites More sharing options...
Steve Netwriter Posted March 15, 2008 Report Share Posted March 15, 2008 Are the journo's at the Dominion Post (national newspaper in NZ) reading the Gold Thread? http://www.stuff.co.nz/dominionpost/4440072a6479.html The economy is being hit by a perfect storm that will probably blow it into recession, the Bank of New Zealand warns. "We are becoming increasingly convinced that the New Zealand economy is heading for recession," BNZ economist Stephen Toplis says. "In fact, it may already be there." You want to check out Bernard's blog. He's the most realistic journalist IMO. http://www.interest.co.nz/ratesblog/ You may notice a familiar name on there sometimes Link to comment Share on other sites More sharing options...
azazel Posted March 15, 2008 Report Share Posted March 15, 2008 Banks in UK may be secretly assisted and we wont know until the pressure increases to blow out. Then there will be panic runs on the bank. Those that do manage to get their money out will want to put it into gold and then the gold run will start big time. Link to comment Share on other sites More sharing options...
dopamine Posted March 15, 2008 Report Share Posted March 15, 2008 OK I'm not sure whether this should go into one of the other threads, but here goes: It's pretty clear to me now that fiat is slipping badly and that the pound in particular is vulnerable (after the dollar). Everyone here does not need convincing re: the merits of PM as a hedge against weakening fiat value (which is why presumably we're not all raving about forex as a way of hedging positions.) My motivation is not holding value when paper becomes worthless a la weimar, but in protecting my paper purchasing power in the coming bernanke stagflation (I still think it's possible that we could deflate after this period). Hence I use ETFs and spreadbetting rather than buying physical (although I do have a small physical position, and hold PM equities in ML GandG). I've been following PM movements for 2 years now and wish I'd had the courage of my convictions sooner than this. I've been making reasonable sums from spreadbetting, mainly to get the practice - starting from a very small position I've quadrupled my money, but have 'lost' a good few £ on downswings in the process. I'm now considering taking a large position (for me) in silver at £25 per point (1 point = 0.5c, i.e. I make £5K if silver goes up by a dollar). Clearly with such a large position I need to be mindful of stops, not wanting to stop out too soon. It also seems futile to chase stop losses around the price given that silver can easily swing around 50-80c + per day. I'm thinking of a stop at just over $18 dollars and placing a stop sell order at $18 to cover myself in the event of catastrophe in POS. I'm 'happy' to risk £5-£10K on this play as I'm so concerned about the value of my savings (I hold no assets other than cash at the moment). I can't see a major downside to this position, other than possibly losing £10K of paper if I hit my stop and silver then stalls, which I'd 'lose' through inflation anyway over the next 12 months and the upside is obvious ('profit' of £45K paper if silver hits $30). You guys have finer minds than me, so at risk of presumption I'd be grateful for opinion on this strategy. I'm aware of the process risks around spreadbetting per se, but my experience with the company I use is that they always trigger stops and orders when I want, and their customer service is very good. Of course, if f***ing interest rates were set responsibly, I wouldn't even be thinking about this play Link to comment Share on other sites More sharing options...
Steve Netwriter Posted March 15, 2008 Report Share Posted March 15, 2008 Rewriting the golden rules Have 'gold bugs' finally won the respect of mainstream investors? here NEW YORK (MarketWatch) -- Long snubbed by most investors as doomsday-conspiracy crackpots, gold bugs aren't the only ones hording the precious metal anymore. It turns out that the rest of the investment world has gotten caught up in the buying frenzy too. And market blowups like the one surrounding Bear Stearns Cos. Inc. only embolden buyers further. Gold's breakneck surge over the past year was largely the work of mainstream investors, who have been forced to reckon with the biggest credit crisis in decades, the very type of financial tsunami that gold bugs have long been dreaming of -- and betting on. With gold breaking the barrier of $1,000 an ounce this week and surging over 40% over the last year, a growing number of investors that joined the fray are finally acknowledging that gold bugs' plans for apocalypse weren't so kooky after all. All together now.....we told you so Link to comment Share on other sites More sharing options...
dopamine Posted March 15, 2008 Report Share Posted March 15, 2008 All together now.....we told you so CGNAO writing leaders for the daily mail next? Link to comment Share on other sites More sharing options...
Steve Netwriter Posted March 15, 2008 Report Share Posted March 15, 2008 Please explain this...if you can ! Proposed Exemptive Order for ST Gold Futures Contracts Friday, March 14, 2008; Posted: 10:13 AM http://www.tradingmarkets.com/.site/news/S...20News/1203645/ Mar 14, 2008 (FIND, Inc. via COMTEX) -- STT | news | PowerRating | PR Charts -- SUMMARY: The Commodity Futures Trading Commission (Commission) is proposing to exempt certain transactions in physically delivered futures contracts based on streetTRACKS® Gold Trust Shares (ST gold futures contracts) *1 from those provisions of the Commodity Exchange Act (CEA or Act), *2 and the Commission's regulations thereunder, that are inconsistent with the trading and clearing of ST gold futures contracts as security futures. The proposed exemption would be conditioned on the compliance of transactions in ST gold futures contracts with the requirements established for security futures. The authority for the issuance of this exemption is found in Section 4© of the Act. *3 etc etc Talking of ETFs, is this relevant ? Link to comment Share on other sites More sharing options...
dopamine Posted March 15, 2008 Report Share Posted March 15, 2008 sorry - all greek to me. At a guess.....god knows I should probably be worrying about it, though. Link to comment Share on other sites More sharing options...
Rikk03 Posted March 15, 2008 Report Share Posted March 15, 2008 Coininvest have the following prices quoted Krugerrand 1 Ounce 2008 31.10 Gramm BUY £497.62 SELL £524.43 I dont know how you actually go about selling to them tho and this price is also for a 2008 coin and not random year. Woot! So they buy at spot price and sell to you at a premium! Not with the broker I use ...... I buy at spot price. But the price i would get if i sold to them is £25 under spot price. Link to comment Share on other sites More sharing options...
Pluto Posted March 15, 2008 Report Share Posted March 15, 2008 Gold goes mainstream: http://news.sky.com/skynews/article/0,,30400-1309256,00.html Link to comment Share on other sites More sharing options...
drbubb Posted March 15, 2008 Report Share Posted March 15, 2008 Projected LOW : SPY-119 or SPX-1190, with a VIX maybe touching 40% or so. Target date: 22 March (per Martin Armstrong), but that's a Saturday !, so about 1 week from now Link to comment Share on other sites More sharing options...
Errol Posted March 15, 2008 Report Share Posted March 15, 2008 I will not sell my gold (if i do) for anything but the spot price. An ounce of gold is an ounce of gold and I will get its market price. Link to comment Share on other sites More sharing options...
frizzers Posted March 15, 2008 Report Share Posted March 15, 2008 OK I'm not sure whether this should go into one of the other threads, but here goes: It's pretty clear to me now that fiat is slipping badly and that the pound in particular is vulnerable (after the dollar). Everyone here does not need convincing re: the merits of PM as a hedge against weakening fiat value (which is why presumably we're not all raving about forex as a way of hedging positions.) My motivation is not holding value when paper becomes worthless a la weimar, but in protecting my paper purchasing power in the coming bernanke stagflation (I still think it's possible that we could deflate after this period). Hence I use ETFs and spreadbetting rather than buying physical (although I do have a small physical position, and hold PM equities in ML GandG). I've been following PM movements for 2 years now and wish I'd had the courage of my convictions sooner than this. I've been making reasonable sums from spreadbetting, mainly to get the practice - starting from a very small position I've quadrupled my money, but have 'lost' a good few £ on downswings in the process. I'm now considering taking a large position (for me) in silver at £25 per point (1 point = 0.5c, i.e. I make £5K if silver goes up by a dollar). Clearly with such a large position I need to be mindful of stops, not wanting to stop out too soon. It also seems futile to chase stop losses around the price given that silver can easily swing around 50-80c + per day. I'm thinking of a stop at just over $18 dollars and placing a stop sell order at $18 to cover myself in the event of catastrophe in POS. I'm 'happy' to risk £5-£10K on this play as I'm so concerned about the value of my savings (I hold no assets other than cash at the moment). I can't see a major downside to this position, other than possibly losing £10K of paper if I hit my stop and silver then stalls, which I'd 'lose' through inflation anyway over the next 12 months and the upside is obvious ('profit' of £45K paper if silver hits $30). You guys have finer minds than me, so at risk of presumption I'd be grateful for opinion on this strategy. I'm aware of the process risks around spreadbetting per se, but my experience with the company I use is that they always trigger stops and orders when I want, and their customer service is very good. Of course, if f***ing interest rates were set responsibly, I wouldn't even be thinking about this play Silver is very hard to spreadbet I find. The most effective strategy imo is to take a much smaller position, so you're under less pressure, and treat it as physical riding out whatever comes your way. Then when you're not expecting it the silver chart will suddenly spike, as it has done since December - that is when you should think about taking some profit. I hope I'm wrong as I own shedloads of physical, but I'm not sure silver is a buy just now, unless your just nicking 50c gains here and there. It's quite a long way above its 200 dma. Link to comment Share on other sites More sharing options...
ConvertedGoldBug Posted March 15, 2008 Report Share Posted March 15, 2008 Am just about to make my first ever physical coin purchase (from CoinInvestDirect). Going to spend £1000, just to get my "collection" started So am thinking for my first purchase, I'd like a several coins... probably a mixture of gold and silver, and from different countries (yeah, I know that means some coins are going to carry more of a premium than others). Therefore, I'm not going to go for 1oz gold coins this time around, but rather some smaller weights. Probably going for a 50/50 split between gold/silver, e.g. - 1/2oz Gold Krugerrand (x1) - 1/2oz Gold Panda (x1) - 1/4oz Gold Maples (x2) - 1oz Silver Philharmonics (x20) Any comments? Am thinking it might be easier to sell smaller denominations of coins in the future after the price has skyrocketed (i.e. someone else wouldn't have to fork out an extortionate amount for a 1oz gold coin, and can instead spend half or quarter the amount of cash to buy it from me).... not that I'd be thinking of selling, otherwise I might as well just stick this £1000 in my ETF. Link to comment Share on other sites More sharing options...
Errol Posted March 15, 2008 Report Share Posted March 15, 2008 - 1/2oz Gold Krugerrand (x1)- 1/2oz Gold Panda (x1) - 1/4oz Gold Maples (x2) - 1oz Silver Philharmonics (x20) Any comments? 1/2oz Gold American Eagles are fantastic if you can get hold of them. A lovely looking bullion coin. Link to comment Share on other sites More sharing options...
Errol Posted March 15, 2008 Report Share Posted March 15, 2008 Lots of gold ... heh. Link to comment Share on other sites More sharing options...
azazel Posted March 15, 2008 Report Share Posted March 15, 2008 Lots of gold ... heh. That your stash Errol and if so what types of coins you got? Nosy bugger me Link to comment Share on other sites More sharing options...
azazel Posted March 15, 2008 Report Share Posted March 15, 2008 Am just about to make my first ever physical coin purchase (from CoinInvestDirect). Going to spend £1000, just to get my "collection" started So am thinking for my first purchase, I'd like a several coins... probably a mixture of gold and silver, and from different countries (yeah, I know that means some coins are going to carry more of a premium than others). Therefore, I'm not going to go for 1oz gold coins this time around, but rather some smaller weights. Probably going for a 50/50 split between gold/silver, e.g. - 1/2oz Gold Krugerrand (x1) - 1/2oz Gold Panda (x1) - 1/4oz Gold Maples (x2) - 1oz Silver Philharmonics (x20) Any comments? Am thinking it might be easier to sell smaller denominations of coins in the future after the price has skyrocketed (i.e. someone else wouldn't have to fork out an extortionate amount for a 1oz gold coin, and can instead spend half or quarter the amount of cash to buy it from me).... not that I'd be thinking of selling, otherwise I might as well just stick this £1000 in my ETF. I would get less gold and more silver. I would buy 50 silver philharmonics and put lots of modest bids on gold coins in ebay targeting the ones that end at off peak times. I have done that and got some 1/2 sovereigns for about £55 each, full sovereigns for about £105 each. That was cheaper than the spot price on the gold content. Link to comment Share on other sites More sharing options...
G0ldfinger Posted March 15, 2008 Author Report Share Posted March 15, 2008 Some time ago someone mentioned these dealers here for scrap silver coin bags: http://www.gold.ie/modern_silver_coins.php 90% Silver Bags (0.900 Fine Silver)(715oz of pure 24 carat silver) Does anyone know dealers who sell smaller bags of old US silver coins in the UK? Or is it the best to look on ebay? Link to comment Share on other sites More sharing options...
ConvertedGoldBug Posted March 15, 2008 Report Share Posted March 15, 2008 I would get less gold and more silver. I would buy 50 silver philharmonics and put lots of modest bids on gold coins in ebay targeting the ones that end at off peak times. I have done that and got some 1/2 sovereigns for about £55 each, full sovereigns for about £105 each. That was cheaper than the spot price on the gold content. I was thinking of something along those lines... that's why I wanted to go for a rough 50/50 split. Am now thinking I'd probably be better off in the long run not paying higher premiums on some of the gold coins (just to get some variety), since getting the cheaper ones would perhaps mean I could get 1 or 2 extra silver coins for the same total outlay. re: Ebay... how can you guarantee that they're genuine coins, and not fakes? Link to comment Share on other sites More sharing options...
azazel Posted March 15, 2008 Report Share Posted March 15, 2008 I was thinking of something along those lines... that's why I wanted to go for a rough 50/50 split. Am now thinking I'd probably be better off in the long run not paying higher premiums on some of the gold coins (just to get some variety), since getting the cheaper ones would perhaps mean I could get 1 or 2 extra silver coins for the same total outlay. re: Ebay... how can you guarantee that they're genuine coins, and not fakes? I would only buy off someone with good feedback unless I could collect. I would only use paypal if item is to be posted. If you get ripped off then hopefully theres paypal to fall back on if its below £500. I have never been ripped off on ebay, so I guess if you use your common sense then you will be ok. If you want to be safe then buy the gold coins along with your silver ones. I would go for 1/2 maples Link to comment Share on other sites More sharing options...
Pluto Posted March 15, 2008 Report Share Posted March 15, 2008 Lots of gold ... heh. Nice try errol, you can't fool us, they're Ritz crackers from the box behind. Link to comment Share on other sites More sharing options...
azazel Posted March 15, 2008 Report Share Posted March 15, 2008 Some time ago someone mentioned these dealers here for scrap silver coin bags: http://www.gold.ie/modern_silver_coins.php Does anyone know dealers who sell smaller bags of old US silver coins in the UK? Or is it the best to look on ebay? You thinking of "filling your boots" with old silver coins Goldfinger? Link to comment Share on other sites More sharing options...
TRUSTNO1 Posted March 15, 2008 Report Share Posted March 15, 2008 Over at HPC they have now deleted all my PMs and removed the PM facility. Although I only sent one PM to a member today in order to leave a trace. Never thought I would have to say this, but these guys remind me of a certain subdivision of the police back in Germany some 70 years ago. Same story on MoneySavingExpert.com. I've been trying to advise people to invest in physical silver-but have now had 3 posts removed,the last two never even got to the forum. This is a good sign,as 'they'must be getting desperate to try and keep a lid on silver Link to comment Share on other sites More sharing options...
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