azazel Posted August 4, 2008 Report Share Posted August 4, 2008 Maybe it's the latter one. What are the best dealers in the UK to get those? Is coindirect (or how they'e called) any good? Hi GF. I find the market on ebay interesting as it reflects what the public are wanting. Ive seen times when no one was really interested in buying gold and silver and now the opposite is true. Regarding the silver coins and bars, coininvestdirect.com are probably the cheapest and the coins and bars i have had from them have all been new. I wish I had found them sooner. They used to charge 7% VAT on silver coins but now charge 17.5% like other dealers do. Made them even cheaper than the others. Im not sure if they will go back to the 7% rate after the end of the financial year. Sonia told me that they had used up their "allowance" of 7% which I guess is the rate they charge in Germany. Either that or they made a mistake. Link to comment Share on other sites More sharing options...
wrongmove Posted August 4, 2008 Report Share Posted August 4, 2008 Bonds beckon as commodity boom flags "Deutsche Bank has called the top of the commodity cycle. The uber-bulls of the oil, food and metals boom have advised clients to take profits before the downturn engulfing most of the global economy works its inevitable effects. Oil will slide back towards its "marginal production cost" of $60 to $80 a barrel; gold will slump to $650 an ounce as the dollar recovers against the euro; copper, lead and tin will slowly halve in price; grains will calm down as harvests in Australia and the Eurasian Steppe return to normal............" A newspapaer article calls the top! So, if housing is anything to go by, the bull has at least another 5 years! Link to comment Share on other sites More sharing options...
sylvester Posted August 4, 2008 Report Share Posted August 4, 2008 A Shock to the Collective Psyche: Bad News and Bank Runs by Mike Whitney Global Research, August 3, 2008 The Bush administration is going to be mailing out more "stimulus" checks in the very near future. There's just no way around it. The Fed is in a pickle and can't lower interest rates for fear that food and energy prices will shoot into the stratosphere. At the same time, the economy is shrinking faster than anyone thought possible with no sign of a rebound. That leaves stimulus checks as the only way to "prime the pump" and keep consumer spending chugging along. Otherwise business activity will slow to a crawl and the economy will tank. There's no other choice. The daily barrage of bad news is really starting to get on people's nerves; it's obvious everywhere you look. Most of the TV chatterboxes have already cut-out the cheery stock market predictions and no one is praising the "impressive powers of the free market" any more. They know things are bad, real bad. That's why the business news is no longer presented like a happy-go-lucky Bollywood extravaganza with undulating females and exotic music. Now it’s more like B-grade slasher movie where everyone winds up dead at the end of the show. A pervasive sense of gloom has crept into the television studios just like it has into the stock exchanges and the luxury penthouses on Manhattan's West End. It's palpable. That same sense of foreboding is creeping like a noxious cloud to every town and city across the country. Everyone is cutting back on non-essentials and trimming the fat from the family budget. The days of extravagant impulse-spending at the mall are over. So are the big ticket purchases and the trips to Europe. Consumer confidence is at historic lows, disposal income is a thing of the past, and credit cards are at their limit. In the last three months bank credit has shrunk faster than any time since 1948. The banks aren't lending and people aren't borrowing; that's a lethal combo. When credit-creation slows, the economy falters, unemployment rises and the misery index soars. That's why Bush will mail out a new batch of stimulus checks whether he wants to or not; his back is up against the wall. On Friday, after the market had closed, the FDIC shut down two more banks, First Heritage Bank and First National Bank. Kaboom. Two weeks earlier, regulators seized Indymac Bancorp following a run by depositors. The FDIC now operates like a stealth paramilitary unit, deploying its shock troops on the weekends to do their dirty work out of the public eye and at times when it will least effect the stock market. The reasons for this are obvious; there's only one thing the government hates more than seeing flag-draped coffins on the evening news, and that's seeing long lines of frantic people waiting impatiently to get what's left of their savings out of their now-deceased bank. Lines at the bank signal that the system is broken. Banks-runs are a shock to the collective psyche. When depositors see a bank run they realize that their money is not safe. People aren't fools; they can smell a rat. When their confidence wanes, it extends to the whole system. Suddenly they start questioning everything they once took for granted. They become skeptical of the institutions which, just days earlier, seemed rock-solid. Bank runs are a direct hit on the foundation of the free market system. Unchecked, the tremors can ripple through the entire society and trigger violent political upheaval, even revolution. The public may not grasp their significance, but everyone in Washington is paying attention. They take it seriously, very seriously. An article in the San Francisco Business Times said that the FDIC is worried about the reporting on Internet blogs. They'd rather keep the information about the troubles in the banking system out of the news. Sheila Bair, chairman of the Federal Deposit Insurance Corp., summed it up like this after the run on Indymac: "The blogs were a bit out of control. We're very mindful of the media coverage and blogs in controlling misinformation. All I can say is were going to continue to stay on top of it. The misinformation that came out over the weekend fed a lot of depositors' fears." Is that a threat? The cure for a failed banking system is adequate capital and prudent oversight not threats to impartial critics of the system. That's balderdash. Commissar Blair apparently believes that bloggers should be treated the same way as journalists in Iraq, who, if they veer ever so slightly from the Pentagon's "the surge is a great triumph" script, find themselves on the smoky end of an M-16 at some unmarked checkpoint outside Baquba. Last Sunday, sought Treasury Secretary Henry Paulson tried to reassure the public that the banking system is sound, while bracing people for more trouble ahead: "I think it's going to be months that we're working our way through this period — clearly months. But again, it's a safe banking system, a sound banking system. Our regulators are on top of it. This is a very manageable situation." Paulson is wrong; the banking system is not sound nor is it well capitalized. If the rate of bank closures continues at the present pace, by the middle of 2009 their will be restrictions on withdrawals. Bet on it. Journalist Bill Sardi summed it up nicely in an article last week on lewrockwell.com titled "Could Your Bail Fail?": So, while your bank still has money and can process your checks, it may be time to pay down debts, pay quarterly taxes and mortgage payments in advance, and think of having money outside of banks (gold, foreign currencies), etc., before your money is inaccessible or even evaporates! Don’t think all your investments outside of banks are immune from all this turmoil. For example, money market mutual funds, where Americans have invested $3 trillion, are not covered by FDIC insurance (however, money market accounts offered by banks are covered). Recent losses in some of these money market mutual funds have caused some companies to rush to plug the losses. For example, Legg Mason Inc. and SunTrust Banks Inc., recently pumped $1.4 billion each into its money market funds. Bank of America Corp. has injected $600 million. As for your checking and savings accounts, recognize you may have five different accounts in the same bank, but the FDIC only insures individuals, not each account, up to $100,000. Putting your money in different accounts in the same bank does not necessarily provide better insurance for your deposits. Global Research And a link to the other article mentioned. Link to comment Share on other sites More sharing options...
LauraB Posted August 4, 2008 Report Share Posted August 4, 2008 Out of interest is your partner a believer in gold? Goldbugging is largely a male past time, so I was just curious if you had the support of your partner or whether you are a rogue goldbugger much like myself. Now that he has his head around just how serious this is, he is even more bullish than me. Releasing a pile this week, so half his savings will be in gold.... we hope A belated (ex HPC) big thxs to GF & Cgnao.......Sorry guys, we couldn't cope at first.......I'm sure it's a common ailment Link to comment Share on other sites More sharing options...
bazmercer Posted August 4, 2008 Report Share Posted August 4, 2008 They used to charge 7% VAT on silver coins but now charge 17.5% like other dealers do. This is of course assuming you get them delivered to the UK. If you're getting them delivered to other EU countries, 7% still applies. Link to comment Share on other sites More sharing options...
marmite Posted August 4, 2008 Report Share Posted August 4, 2008 Gold below 900 again briefly what do we think is instore this week ?? More chances below 900 maybe ?? FOMC tommorow ECB Thursday Link to comment Share on other sites More sharing options...
romans holiday Posted August 4, 2008 Report Share Posted August 4, 2008 Hoping it stays in the doldrums for just a little while longer [ decent funds coming through on friday]. I have a sneaking suspicion it may be the last time I will be buying gold. Why, you may ask. I feel that once the Autumn season arrives, POG will catch a breeze and leave me behind. All good things must come to an end I guess, and I have to be glad that I got in when I did.....in my solid little metalic dingy ready to face any storm to come. Hoping it will buy me an island one day. Link to comment Share on other sites More sharing options...
Bobsta Posted August 4, 2008 Report Share Posted August 4, 2008 Monday-tuesday oil has to make a decision. Either it will bottom at 120 level or not. This is very important support level, because if it doesn't hold, gold, together with other commodities will go lower. If oil confirms the support expcect a big run in everything from gold to pork bellies, and of course, 900 gold will be history. I appreciate this is still very early days (and I don't want to jinx things), but Oil is putting up a pretty good fight so far. Link to comment Share on other sites More sharing options...
kernull Posted August 4, 2008 Report Share Posted August 4, 2008 I appreciate this is still very early days (and I don't want to jinx things), but Oil is putting up a pretty good fight so far. well, i forgot to see the calendar, and now I found that tomorrow we will have a fed meeting, heeee heeee!!! now i understand todays lack of action. I will bet on dollar fall tomorrow. the dollar needs a pullback, oil needs a pull up, the thing needs to be untied after FEDs meeting. it may happend that even if FED says something about rising interest we could go up in gold & oil, beause this event is obstaculizing to advance in testing oil support/resistance, levels, friday's low volume, and today even lower is because of the meeting. Link to comment Share on other sites More sharing options...
electroweak Posted August 4, 2008 Report Share Posted August 4, 2008 dear PPT, please can you keep the POG down for a few more days whilst I convert my salary into real money? thanks, Chris Link to comment Share on other sites More sharing options...
G0ldfinger Posted August 4, 2008 Author Report Share Posted August 4, 2008 Just clicked the 'buy' button for some gold and silver in the middle of this jump downwards. We'll see whether it was so clever (short term). EDIT: dear PPT, please can you keep the POG down for a few more days whilst I convert my salary into real money? thanks, Chris I'd say, I make the utmost use of them. Link to comment Share on other sites More sharing options...
ologhai Posted August 4, 2008 Report Share Posted August 4, 2008 Just clicked the 'buy' button for some gold and silver in the middle of this jump downwards. We'll see whether it was so clever (short term). Why only short term? Link to comment Share on other sites More sharing options...
G0ldfinger Posted August 4, 2008 Author Report Share Posted August 4, 2008 Why only short term? Because I think long term it was clever anyway. Link to comment Share on other sites More sharing options...
kernull Posted August 4, 2008 Report Share Posted August 4, 2008 what a sell-off in oil! gold holds better Link to comment Share on other sites More sharing options...
electroweak Posted August 4, 2008 Report Share Posted August 4, 2008 what a sell-off in oil! gold holds better yes, massively cheap now, eh ... Link to comment Share on other sites More sharing options...
bitbigt Posted August 4, 2008 Report Share Posted August 4, 2008 what a sell-off in oil! gold holds better Oil price dropping is GREAT for the price of gold.... As the price of oil (POO) rises, the effect is to increase the cost of pretty much everything, and that means inflation ...which is bullish for gold But as POO goes even higher, it reaches a point where it acts as a brake on the global economy, and that threatens deflation/recession. At 130+ it was in that latter realm, but now its dropped into the 100-130 zone then its now exactly in the 'sweet spot' for promoting inflation. Give the markets a few weeks, and they will start to realise this! [As the saying goes: "be careful what you wish for" Mr PPT] Link to comment Share on other sites More sharing options...
warpig Posted August 4, 2008 Report Share Posted August 4, 2008 Thanks for the reply, my partner is almost the complete opposite! Well you have a good buying opportunity at the moment, instinct tells me this week is going to be ugly for the POG. Now that he has his head around just how serious this is, he is even more bullish than me. Releasing a pile this week, so half his savings will be in gold.... we hope A belated (ex HPC) big thxs to GF & Cgnao.......Sorry guys, we couldn't cope at first.......I'm sure it's a common ailment Link to comment Share on other sites More sharing options...
kernull Posted August 4, 2008 Report Share Posted August 4, 2008 yes, massively cheap now, eh ... yeah, really cheap, soybeans and wheat looks like anticipated oil fall before it happend, a huge drop today, 7% off. Link to comment Share on other sites More sharing options...
kernull Posted August 4, 2008 Report Share Posted August 4, 2008 oil holded! i took a long on second confirmation, lets see how far it rides, if it breaks 905 I will leave it for FEDs meeting. Link to comment Share on other sites More sharing options...
Bobsta Posted August 4, 2008 Report Share Posted August 4, 2008 oil holded! i took a long on second confirmation, lets see how far it rides, if it breaks 905 I will leave it for FEDs meeting. Oil now nearly $1.50 above it's dip at 16.40 (BST) today.... yet Gold is at its lowest. Not good. Link to comment Share on other sites More sharing options...
Bobsta Posted August 4, 2008 Report Share Posted August 4, 2008 Oil now nearly $1.50 above it's dip at 16.40 (BST) today.... yet Gold is at its lowest. Not good. Scrub that. Oil now nearly $2.00 above the dip. Come on Gold! Link to comment Share on other sites More sharing options...
kernull Posted August 4, 2008 Report Share Posted August 4, 2008 Scrub that. Oil now nearly $2.00 above the dip. Come on Gold! 895 didnt hold, next stop 890, i closed Link to comment Share on other sites More sharing options...
Dispassion Posted August 4, 2008 Report Share Posted August 4, 2008 895 didnt hold, next stop 890, i closed Don't fret just yet, the 200 dma will come into play slightly below $890, we could see a strong bounce. Link to comment Share on other sites More sharing options...
frizzers Posted August 4, 2008 Report Share Posted August 4, 2008 Well FWIW I bought a load more physical today Link to comment Share on other sites More sharing options...
G0ldfinger Posted August 4, 2008 Author Report Share Posted August 4, 2008 Well FWIW I bought a load more physical today That's exactly what I did. All coins today. 50% silver. Looking forward to holding them in my hands. If the price stays like this or goes lower, I'll buy more coins next month. I don't have enough smaller coins yet. When the SHTF, I don't want to be in the situation that I always have to buy the WHOLE supermarket. Link to comment Share on other sites More sharing options...
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