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The Cartel wants you to believe that this is a quintuple top and the price will only go down from here. :lol: :lol:

 

http://gold.approximity.com/since2007/Gold_USD.html

Gold_USD.png

 

To me, that looks like something that is ready to pop. And I don't think the direction will be downwards.

What did they want us to believe about the quadruple top below 700?

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hey RH,

 

what if that link that Wren posted applies to Jersey next though ? surely TPTB would target these types of holdings first, then overseas normal currency accounts next??

 

cheers though.

I don't really have a good understanding of this area tbh.

 

I like to keep things as simple as poss, as it's not a strong area for me right now.

 

also, what about the euro-sterling parity rate ? how would this affect any currency held under a goldmoney account ?

Which link/story are you referring to (the eye of the storm)?

 

About currency ratios I think it is best to regard gold as another currency. So if you have x ounces of gold, whatever the euro, pound or whatever are doing relative to each other is pretty irrelevant.

 

Silver these days is more of an industrial metal but investment demand will probably increase in the coming years. Just to warn that as you know silver is much more volatile and your 80% gold to 20% silver investment looks sensibly conservative.

 

I have a higher % in silver but I was lucky to start buying seriously last Nov and Dec so I have been getting good prices which increases my confidence and I don't have a wife and kids to worry about or to blame me if it doesn't work out. The money in silver is somewhat speculative.

 

Gold is my savings: I trust it more than euros or any other paper monopoly money.

 

On edit:

 

One thing to remember about GoldMoney being in Jersey. There is no deposit guarantee system in Jersey, so cash is not protected. GM itself has said so and advises customers to treat their cash account as temporary places for cash, like when averaging in, rather than a long-term place for cash. The interest rates are now zero on all currencies there anyway.

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hey RH,

 

what if that link that Wren posted applies to Jersey next though ? surely TPTB would target these types of holdings first, then overseas normal currency accounts next??

 

cheers though.

I don't really have a good understanding of this area tbh.

 

I like to keep things as simple as poss, as it's not a strong area for me right now.

 

also, what about the euro-sterling parity rate ? how would this affect any currency held under a goldmoney account ?

Well, its all about diversity... in the right asset class of course; liquidity.

 

I don't think you will go to far wrong if besides having physical you used goldmoney. You can buy silver, gold and even platinum now plus keep some money in various currencies to take advantage of come what may. Opening an account is pretty straight forward.

 

Euro-sterling parity rate? Is that a subtle reference to all fiat heading to 0? :lol:

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hey RH,

 

what if that link that Wren posted applies to Jersey next though ? surely TPTB would target these types of holdings first, then overseas normal currency accounts next??

...

also, what about the euro-sterling parity rate ? how would this affect any currency held under a goldmoney account ?

If things get sticky, at least with GM you can make a withdrawal (1000 oz Silver or 100g Gold).... I'd hope there would be *some* clue before customers were denied a withdrawal, but just in case, hold ~20% in your hands?

 

In GM, you can hold your 'wealth' in silver, gold, platinum or a range of fiat. They don't pay any interest at the moment but they did at one time (rates now too low)...

You can exchange into slver/gold/platinum and thence to a fiat paper of your choice..USD, CAD, GBP, EUR, CHF and JPY. Or you can simply exchange currency to currency.

 

Wren's point about currency guarantee (Jersey) is of course correct. Better to hold metal, methinks. That way you own the metal outright, only Govt can legislate it away, and if you HOLD 20% physically you should be safe.

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this is what was concerning me about owning a property abroad tbh (france in my case). I remember discussing this with a few posters in 2007/8 & this got me thinking as to what to do. Part of me wanted to leave the property because it offered a safe haven in case it goes mad max (which I think it might) & because it had some land & fruit trees/well etc. Then I thought what if government legislation changed & attacked foriegn property owners imposing new laws regulations etc. Ok, it's not Spain (as in demolish your house type scenario) but unprecendented times worry me. So we have sold our French house & now I am in exactly the position that I didn't want to be.

One of the regulars at peakoil.com had a farmhouse (18th century I think) in Northern France (not Brittany I forget which area) with several acres of fields and orchards, outhouses and a lake. This guy (British) is a hard-core peakoiler and had lived there several years.

 

He decided to sell the place and had moved to Devon (wondering how to get another farm, this time in the UK). The reason was that he reckoned the French authorities were getting anti towards foreigners about e.g. healthcare. And he thought it would only get worse as economic conditions get far worse.

 

It was a tough choice but I guess he knew the country well enough to make a good judgement. And boy, was he down when he posted about it. A lovely farm - he provided a link to the estate agents where it was up for sale.

 

On edit:

 

Remember that in the UK Britannias and sovereigns are not subject to capital gains tax as officially they are legal tender coins. So in the UK they would be the preferred gold coins to get. At coininvestdirect.com I compared prices per gramme for several coins 2 weeks ago and the sovereigns were the cheapest per gramme that I could find - cheaper than one-ounce krugs and other one-ouncers.

 

I like the size of a sovereign too: a bit less than quarter an ounce is nice if you want to sell a little but not a whole ounce.

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I think Sterling was overvalued for several years and has now corrected. The Eurozone has very serious problems itself so I wouldn't expect GBP and EUR to go to parity due to the Eurozone faring better at least.

 

Do you have to change currencies or could you buy your metals with euros? (might save some fees).

 

no, I could buy in euros BUT cg's & pluto's words keep ringing in my ears about parity. cg actually said .80 or .85 iirc below parity ;)

 

I thought parity was a given tbh Wren ? :unsure:

 

edited - agreed that the euro has big problems coming. I remember Pluto putting about 5 years on the euro before this would happen. I wish Pluto was still posting tbh.

 

Pluto, get logged in & post you plum, we need your insight. :)

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Which link/story are you referring to (the eye of the storm)?

 

yep.

 

tbh, I didn't want to sell, it was Mrs GOM's idea, because she know's that we won't be guaranteed a house in 2 years without this money/gold. I wanted to leave it rented out to the French (we only had French in it) for 10 years, then sell it or live in it, but she has nagged me into it, only took her 2 years. <_<

 

After seeing your picture & from my own thoughts on what is happening I feel that we are really close to the bond event, for example. When this does happen I think pm's will surge upwards, I mean what else can the clued-up investor buy at the moment ?

 

 

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Wren's point about currency guarantee (Jersey) is of course correct. Better to hold metal, methinks. That way you own the metal outright, only Govt can legislate it away, and if you HOLD 20% physically you should be safe.

 

I don't know how some of you with large gold/silver stores sleep at night tbh. :unsure:

 

 

this will also now present me with a similar feeling I fear. :o:(

 

I had this feeling though that owning foreign property might also hold issues in a year or 2 perhaps. The English are not well liked in Brittany. After our recent visit we noticed a definite change in the air towards the English (although personally we never had any issues as we speak some French). Met a woman in a cafe in our town & she didn't speak any French, she had lived their for 8 years ffs. <_<

 

 

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One of the regulars at peakoil.com had a farmhouse (18th century I think) in Northern France (not Brittany I forget which area) with several acres of fields and orchards, outhouses and a lake. This guy (British) is a hard-core peakoiler and had lived there several years.

 

He decided to sell the place and had moved to Devon (wondering how to get another farm, this time in the UK). The reason was that he reckoned the French authorities were getting anti towards foreigners about e.g. healthcare. And he thought it would only get worse as economic conditions get far worse.

 

 

these were our thoughts (or mine anyway) & we are also moving to Devon next year. We would have gone now, but the children are starting Northern Uni's, so we thought we would go after they are bed-in.

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no, I could buy in euros BUT cg's & pluto's words keep ringing in my ears about parity. cg actually said .80 or .85 iirc below parity ;)

 

I thought parity was a given tbh Wren ? :unsure:

 

edited - agreed that the euro has big problems coming. I remember Pluto putting about 5 years on the euro before this would happen. I wish Pluto was still posting tbh.

 

Pluto, get logged in & post you plum, we need your insight. :)

Maybe they'll go to parity or maybe not, but if you intend to buy gold with cash the important thing is how much gold you can get. The relative values of GBP versus EUR are not themselves relevant. The important thing is gold relative to whatever cash you happen to have. If GBP goes down against the euro you can get more GBP, but that says nothing about how much gold you can get - maybe less if GBP is down against gold more than it is down against EUR.

 

The Eurozone is in dire straights. The German government is paying to keep people part employed. They cannot keep up these tricks forever. Unemployment in Spain is over 17%. As GF used to say the euro is a turd like the rest of the paper money.

 

A good chart from Axstone's thread at goldismoney:

cykr7m.png

 

Thread page:

http://goldismoney.info/forums/showthread....66&page=705

 

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Maybe they'll go to parity or maybe not, but if you intend to buy gold with cash the important thing is how much gold you can get. The relative values of GBP versus EUR are not themselves relevant. The important thing is gold relative to whatever cash you happen to have. If GBP goes down against the euro you can get more GBP, but that says nothing about how much gold you can get - maybe less if GBP is down against gold more than it is down against EUR.

 

The Eurozone is in dire straights. The German government is paying to keep people part employed. They cannot keep up these tricks forever. Unemployment in Spain is over 17%. As GF used to say the euro is a turd like the rest of the paper money.

 

well yes, I understand that BUT remember I am expecting to get parity, now that's a hefty percentage to make up from pound vs euro surely ?

15% atm. surely gold priced in Euros won't be cheaper by that much......

 

edited - I will take a look though obviously & check the charts.

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these were our thoughts (or mine anyway) & we are also moving to Devon next year. We would have gone now, but the children are starting Northern Uni's, so we thought we would go after they are bed-in.

The guy at peakoil.com was really choked about selling his farm. He said they were renting in Devon for the time being but that he would not be able to buy such a place in the UK. The price was less than EUR 300 if I remember right, maybe under EUR 250.

 

I did my first degree oop north at Newcastle although I grew up in Kingston-upon-Thames and North Kent.

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well yes, I understand that BUT remember I am expecting to get parity, now that's a hefty percentage to make up from pound vs euro surely ?

15% atm. surely gold priced in Euros won't be cheaper by that much......

 

edited - I will take a look though obviously & check the charts.

But as it drops against the euro it would likely drop as much against gold so there would be no real gain if you use the admittedly greater number of GBPs to buy gold.

 

Also if gold is doing okay it might drop more against gold than against the euro so you will get less gold even though you have more GBP.

 

The important thing to worry about is your timing in buying gold.

 

Like everybody else I don't have a crystal ball but this summer looks like a good buying opportunity. DrBubb has just begun to make his move into gold. He seems to reckon a dip might come in August.

 

Let's see what the others have to say. Pluto has been away for a long time. Also it summer holidays for many now.

 

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But as it drops against the euro it would likely drop as much against gold so there would be no real gain if you use the admittedly greater number of GBPs to buy gold.

 

Also if gold is doing okay it might drop more against gold than against the euro so you will get less gold even though you have more GBP.

 

it's like looking at about 12 things all at the same time isn't it, as they go up,down & sideways all together. :blink:

 

The important thing to worry about is your timing in buying gold.

 

I doubt there will be a big dip though now surely ? all helps though, especially if you are getting a sizeable chunk I suppose.

 

 

Like everybody else I don't have a crystal ball but this summer looks like a good buying opportunity. DrBubb has just begun to make his move into gold. He seems to reckon a dip might come in August.

 

Let's see what the others have to say. Pluto has been away for a long time. Also it summer holidays for many now.

 

I'd rather just buy very soon tbh, the big surge upwards must be overdue by now, but I will listen to what everyone has to say on the matter.

 

Shame about Pluto, I always enjoyed his posts & posting style.

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it's like looking at about 12 things all at the same time isn't it, as they go up,down & sideways all together. :blink:

Yes. It's like the paper currencies are little ducks in the bathtub all bobbing up and down relative to each other.

 

Meanwhile the plug has been pulled and they are all going down together but if you only look at the ducks and how they bob up and down you may not notice that.

 

Gold is the bathtub.

 

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Yes. It's like the paper currencies are little ducks in the bathtub all bobbing up and down relative to each other.

 

Meanwhile the plug has been pulled and they are all going down together but if you only look at the ducks and how they bob up and down you may not notice that.

 

Gold is the bathtub.

 

 

that's a nice image/analogy. :D

 

a huge swirling vortex of fiat all plunging downwards together, whilst gold is holding the plug in its hand with a wry grin on its face.

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I don't know how some of you with large gold/silver stores sleep at night tbh. :unsure:

 

 

this will also now present me with a similar feeling I fear. :o:(

 

I had this feeling though that owning foreign property might also hold issues in a year or 2 perhaps. The English are not well liked in Brittany. After our recent visit we noticed a definite change in the air towards the English (although personally we never had any issues as we speak some French). Met a woman in a cafe in our town & she didn't speak any French, she had lived their for 8 years ffs. <_<

If Govt decide to penalise and force us to sell Au/Ag, then physical in our hands will be in the stratosphere (they cant take it off you if they don't know where it is and you could have even lost it in a boating accident). It's all about hedging. Keep 20% in your hands and relax.

 

Owning property will be very expensive in the future, I am sure ( I say this with trepidation as an owner occupier :( ). The governments of the UK/USA will need to raise massive tax revenues and where better to do it than a fixed immovable asset which is totally traceable to it's owner (a house, flat or such like!) ... Gold cannot be contained! A lifetime's wealth can move across a border quite easily.. This is my hedge.

 

My hedge against electronic forced sale is some physical.

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Don't forget about CGT, if it goes as high as we all hope then CGT is an unnecessary bill unless you buy British coinage. Personally I would buy sovereigns now rather than Britannia’s.

 

this is what was concerning me about owning a property abroad tbh (france in my case). I remember discussing this with a few posters in 2007/8 & this got me thinking as to what to do. Part of me wanted to leave the property because it offered a safe haven in case it goes mad max (which I think it might) & because it had some land & fruit trees/well etc. Then I thought what if government legislation changed & attacked foriegn property owners imposing new laws regulations etc. Ok, it's not Spain (as in demolish your house type scenario) but unprecendented times worry me. So we have sold our French house & now I am in exactly the position that I didn't want to be.

 

It's not a huge amount by some of your standards (as in GEI posters), so now I am thinking 80% in gold/silver (with a 80/20 split off the top of my head)

 

The added problem I have is when to change my euros to sterling & buy pm's ?? I am hoping mr parity makes an appearance very soon (or below would be fantastic, but I don't fancy F5 every 20 seconds :rolleyes: )

 

can I forward book a .85 rate :lol::lol:

 

 

 

 

 

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Don't forget about CGT, if it goes as high as we all hope then CGT is an unnecessary bill unless you buy British coinage. Personally I would buy sovereigns now rather than Britannia’s.

 

I wasn't aware of that warpig, thanks. :)

 

so you pay cgt on anything gold (& silver?) that isn't British then ? :unsure:

 

how does that work then?

 

just googled it & posted a link (obviously not for all on here by the sounds of it)

 

CGT Info

 

so how would people get around this then ?

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Someone very inexperienced is tempted to sell some of her stash.

 

Gf will label her 'insane'.

 

Dr. Bubb will say she timed it wrong

 

& Romans will offer a reassuring smile

 

 

So maybe tomorrow

 

Hi Laura,

IMO we are close to one of the worst selling times.

Oh wait, that also means one of the best buying times :D

 

GoldUS_090727pred.gif

 

Which reminds me of this from Oct 2008:

 

GoldUS_buy_times_081001.gif

 

 

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Another way of looking at it is you have to "choose your poison". If I were to sell some gold, I would have to buy dollars, or pounds or Euros etc. Then I might be a little nervous about my dollars or Euros or whatever and might want to sell them for something else.....so it could turn into an exercise in futility. The best option here is to diversify your currencies and perhaps take advantage of strengths and weaknesses [personally, I look to buy a major currency on weakness].

 

Of course, the best thing would be just to buy a self-sufficent piece of land and live a life of care-free simplicity... that has to be real wealth. :rolleyes:

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I wasn't aware of that warpig, thanks. :)

 

so you pay cgt on anything gold (& silver?) that isn't British then ? :unsure:

 

how does that work then?

 

just googled it & posted a link (obviously not for all on here by the sounds of it)

 

CGT Info

 

so how would people get around this then ?

 

How do GOM. Take a look over at this thread: http://www.greenenergyinvestors.com/index....mp;hl=goldmoney Would be classed as a chattel I think. (£6k & 5/3 rule).

 

I'm in the middle of investigating all this but it looks like there might be a chance the CGT chattel thing could apply to proceeds from sales of bullion at Goldmoney too. Will update the thread when I know the score.

 

P.S. Re. GIM - think quite a few of the GEI lot visit GIM but it's a massive pain to get registered. They only open for registration for a couple of days every 4 months or so... Took me bloody ages but finally got in there. I just loiter in the gold stocks section.

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Gold Market Update By: Clive Maund - http://news.goldseek.com/CliveMaund/1248674940.php

 

Pulling all of the above together we can arrive at the following conclusions: the risk of a reversal to the downside by the broad stockmarket and gold, silver and PM stocks has increased significantly in recent days. Despite this there is scope for them all to break higher and stage another upleg. Should this occur, however, the likelihood of a much more severe reaction developing later will increase dramatically, particularly as we move towards the Fall months. This will be especially true for the PM sector if the Commercial short position in gold continues to expand.

 

Hmmm. I've tried to hedge some in recent months but frankly, - F knows... I don't really like holding the $ I set aside at GM though - so I can see me sticking it back in to G before too long.

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