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How are you going to get round it?

 

If you sell it at Chards for example, then Chards will have records of the sale in their books. This will allow HMRC to know who sold (if they chose to look).

 

I doubt you will get round this by selling at CID as they are also a British Company.

 

GoldMoney and BullionVault both say they will co-operate with the British authorities.

 

And ebay monitor sellers on behalf of HMRC.

 

It’s not worth getting caught in my opinion. I know people who have been investigated by HMRC and it is horrific by all accounts. You are presumed to be guilty until you prove otherwise. HMRC will never agree that you are ‘not guilty’ they will instead go quite. You won’t know if/when the investigation has finished.

be careful

 

people will think you are money laundering

 

dont claim for too many paperclips in your expenses

 

 

The Proceeds of Crime Act requires that a disclosure is made if there is:

 

* knowledge or suspicion of money laundering, or

* reasonable grounds for knowledge or suspicion.

 

In practice this means that the accountant must be careful to consider not only if he or she is suspicious, but also if another person in a similar scenario would be suspicious.

 

Remember that what constitutes money laundering is set out in the Proceeds of Crime Act (Part 7). It is widely defined and includes:

 

* concealing the proceeds of crime

* facilitating an arrangement to conceal or retain the proceeds of crime, and

* acquiring or having possession of the proceeds of crime.

 

Anybody who has proceeds of crime will therefore end up laundering money, whether it's small scale tax evasion or a drugs cartel!

 

Deciding whether a situation causes suspicion, however, is necessarily a judgemental process. Two quotes from judges in court cases help to explain the level at which suspicion arises:

 

* 'A degree of satisfaction not necessarily amounting to belief but at least extending beyond speculation as to whether an event has occurred or not'

* 'Although the creation of a suspicion requires a lesser factual basis than the creation of a belief, it nonetheless must be built upon some foundation'.

 

Another factor that must be taken into account in deciding if we are suspicious is whether the transaction or activity that we have seen is connected to a person or entity in a non-cooperative country or territory (NCCT). A list of such countries is published by the Financial Action Task Force (FATF) and is available on their website at www.fatf-gafi.org.uk.

 

Whenever one of these jurisdictions is involved we must become suspicious much sooner. The reason for this is that NCCTs have weak or no anti-money laundering legislation, or do not assist in international investigations. As such they are havens for money launderers and so very risky from our point of view.

 

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Not had a chance to read this but I am sure it will be of interest. At the same time the corruption is common knowledge now.

 

 

http://www.zerohedge.com/article/project-m...ted-silver-etfs

 

During our research into the inventory lists of the iShares SLV and London-based ETFS physical silver funds, we discovered multiple anomalies which cannot be easily dismissed. These included the presence of internal duplicates, rough internal duplicates, weight duplicates, statistical clustering, and cross-reference duplicates. Taken together, these anomalies are cause for concern, and we suggest that more capable teams conduct further research into these issues, as they effect price discovery within the precious metals market, as these ETF shares are being used for settlement and possibly pricesuppression on the COMEX.

 

 

If these problems are caused by accounting errors, they are disturbing and perhaps profoundly incompetent, and we suggest both these funds should have their senior management replaced.

 

 

 

In our opinions, the only way for all of these anomalies to occur together as noted in this paper, is via systemic fraud or gross accounting error bordering on jaw-dropping incompetence.

 

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Hi GOM,

 

In case you are interested...

 

In terms of physical ounces I went with 60oz silver for every 1oz gold.

In cash terms this roughly meant an equal 50/50 split.

 

I hold Gold through Goldmoney.com, whereas Silver I only ever buy physical coins and take delivery. And here is why...

 

The spot price of silver is clearly way more volatile, however, the actually price you pay to get physical silver in your hands is much more stable. If the spot price goes down the premium just seems to go up. Keep an eye out for specials on http://www.coininvestdirect.com though. I recently bagged a stack of silver philharmonics for £11.50 each incl VAT & delivery. Excellent service too.

 

I could be tempted to get some silver through Goldmoney too if we get a big sell off. Anywhere below 8GBP looks a safe bet to me.

 

thanks for that DoctorSolar.

 

yes, I think I may go more into silver than I had planned, that chart that Icarus/GF et all have posted a few times looks very inviting. I know I need to make these decisions very soon, regardless of 'dip price'. I don't want to miss the big jump waiting for the smaller dip.......

 

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Wow... silver back down to 13.48. Mind you it did go up very fast from 12.60 odd. I wonder if we could see another good buying op with it going below 13 again. Though I was buying on the last dip I missed the 12 dollar range.... always buy too quickly. :lol:

 

Note to self: do not buy anymore silver [you have quite enough] until it goes below $12. This might take a few months of waiting, just try to be happy with those dollars you have for the meantime.

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Wow... silver back down to 13.48. Mind you it did go up very fast from 12.60 odd. I wonder if we could see another good buying op with it going below 13 again. Though I was buying on the last dip I missed the 12 dollar range.... always buy too quickly. :lol:

 

Note to self: do not buy anymore silver [you have quite enough] until it goes below $12. This might take a few months of waiting, just try to be happy with those dollars you have for the meantime.

tempted.... very VERY tempted to buy a little here...@13.28

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tempted.... very VERY tempted to buy a little here...@13.28

If tempted to buy silver.... go quickly to deflationist forums and read how all commodities will collapse in a deflation. This should deflate the desire to buy silver. :lol:

 

Seriously though, it is likely to be very volatile for a longish time so what's the hurry. Then if you get it for bargain prices, the volatlity will be a lot less worrisome.

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If tempted to buy silver.... go quickly to deflationist forums and read how all commodities will collapse in a deflation. This should deflate the desire to buy silver. :lol:

 

Seriously though, it is likely to be very volatile for a longish time so what's the hurry. Then if you get it for bargain prices, the volatlity will be a lot less worrisome.

 

Deflation or no deflation, we'll still see sub $10 prices before we'll see +$20 again imho...

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Deflation or no deflation, we'll still see sub $10 prices before we'll see +$20 again imho...

Would be interested if you could expand on why you think this.

 

Thanks

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Would be interested if you could expand on why you think this.

 

Thanks

 

1) The big manipulators have been caught short and will only default after trashing the price. Refer to the nickel default for further details.

 

2) Near term global economic circumstances (up to 1 year say) tend to indicate lower prices are more likely than higher ones going forward.

 

3) Despite all that's being reported by the silver pundits, there's a large overhang of commercial supply at present. Thorough objective due diligence will testify to this fact regardless of recent investment demand.

 

Of course, I'm only human and could be wrong, but if I had to bet the ranch on it, I will always favour playing the percentages as it's generally more profitable that way in the long run. Needless to say, I could miss the boat entirely with my bleak outlook, a risk that I'm more than happy to take given the present set up however...

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1) The big manipulators have been caught short and will only default after trashing the price. Refer to the nickel default for further details.

 

2) Near term global economic circumstances (up to 1 year say) tend to indicate lower prices are more likely than higher ones going forward.

 

3) Despite all that's being reported by the silver pundits, there's a large overhang of commercial supply at present. Thorough objective due diligence will testify to this fact regardless of recent investment demand.

 

Of course, I'm only human and could be wrong, but if I had to bet the ranch on it, I will always favour playing the percentages as it's generally more profitable that way in the long run. Needless to say, I could miss the boat entirely with my bleak outlook, a risk that I'm more than happy to take given the present set up however...

 

Whoops - if you don't mind me asking - what's your general investment strategy/plan? Are you a trader or?

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Whoops - if you don't mind me asking - what's your general investment strategy/plan? Are you a trader or?

 

Long-term investor, medium-term trader. I don't bother day-trading silver if that's what you're getting at...

 

My investment strategy is broad and wide ranging. I always strife to avoid falling in love with any one particular investment and history proves that this has always been the best policy when it comes to PMs, silver especially given its volatility.

 

Question: When has silver ever held on to it's significant price gains over the long run without correcting big time?

 

Answer: Never.

 

History suggests that buying and holding silver hardly ever works (in real terms) as a long-term investment strategy. Shame really, as life would be a lot less bothersome and stressful if it did.

 

Still, it could be different this time even though we're all well aware how dangerous such sentiment can be when it comes to investing...

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Long-term investor, medium-term trader. I don't bother day-trading silver if that's what you're getting at...

 

My investment strategy is broad and wide ranging. I always strife to avoid falling in love with any one particular investment and history proves that this has always been the best policy when it comes to PMs, silver especially given its volatility.

 

Question: When has silver ever held on to it's significant price gains over the long run without correcting big time?

 

Answer: Never.

 

History suggests that buying and holding silver hardly ever works (in real terms) as a long-term investment strategy. Shame really, as life would be a lot less bothersome and stressful if it did.

 

Still, it could be different this time even though we're all well aware how dangerous such sentiment can be when it comes to investing...

 

it's worth remembering that last fall the premium on coins went through the roof, so when the comex price dipped, the small retail silver held it's value.

 

admittedly, this was not the case for 1000oz bars, but if you wanted eagles, maples etc., you paid 50-80% premium for them (ebay / dealers etc) when comex silver troughed.

 

if anyone wants to check this, read through the silver gei threads from start to finish it's all there.

 

Whether, the mints are prepared this year is open to debate. personally, i don't think we will see $10 silver again, but I, like everyone else do not have a crystal ball.

 

imho, I think we will see the bottom in aug/sept followed by a big rally coinciding with bailout 2 / qe II

 

it will be interesting to see who's right. good luck

 

 

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i would just like to add that the surplus is nothing like it was post 1979 spike, also if you check the gfms report, the diff. between supply and demand is tight, even if it favours the supply side

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it's worth remembering that last fall the premium on coins went through the roof, so when the comex price dipped, the small retail silver held it's value.

 

admittedly, this was not the case for 1000oz bars, but if you wanted eagles, maples etc., you paid 50-80% premium for them (ebay / dealers etc) when comex silver troughed.

 

if anyone wants to check this, read through the silver gei threads from start to finish it's all there.

 

Whether, the mints are prepared this year is open to debate. personally, i don't think we will see $10 silver again, but I, like everyone else do not have a crystal ball.

 

imho, I think we will see the bottom in aug/sept followed by a big rally coinciding with bailout 2 / qe II

 

it will be interesting to see who's right. good luck

If there is massive volatility [assuming inflation and deflation scares], if you manage to trade silver with gold and back again on the ratio, if you can accumulate further metal with your metal, where is the wall of worry?

 

If you already have a decent postion, why not focus on the ratio, utilize the volatility, and forget the day to day dollar price. :rolleyes:

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it's worth remembering that last fall the premium on coins went through the roof, so when the comex price dipped, the small retail silver held it's value.

 

admittedly, this was not the case for 1000oz bars, but if you wanted eagles, maples etc., you paid 50-80% premium for them (ebay / dealers etc) when comex silver troughed.

 

if anyone wants to check this, read through the silver gei threads from start to finish it's all there.

 

Whether, the mints are prepared this year is open to debate. personally, i don't think we will see $10 silver again, but I, like everyone else do not have a crystal ball.

 

imho, I think we will see the bottom in aug/sept followed by a big rally coinciding with bailout 2 / qe II

 

it will be interesting to see who's right. good luck

 

An excellent observation DA...

 

I would go further and add that coin investors needn't concern themselves too much with the spot price on the COMEX these days. However, bullion investors should always seek to take advantage of the Cartel's offerings whenever they're likely to present themselves especially in the manner prescribed above by RH...

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An excellent observation DA...

 

I would go further and add that coin investors needn't concern themselves too much with the spot price on the COMEX these days. However, bullion investors should always seek to take advantage of the Cartel's offerings whenever they're likely to present themselves especially in the manner prescribed above by RH...

Yep. When I buy silver I only ever buy coins and take delivery.

Definitely levels out the volatility you see in the spot price.

 

However, if, silver were to go near $10 or below I would definitely buy some through goldmoney too and use it to trade or play the gold/silver ratio. Much easier to do through that account than sell the stuff via ebay etc..

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Yep. When I buy silver I only ever buy coins and take delivery.

Definitely levels out the volatility you see in the spot price.

 

However, if, silver were to go near $10 or below I would definitely buy some through goldmoney too and use it to trade or play the gold/silver ratio. Much easier to do through that account than sell the stuff via ebay etc..

 

why only coins prey tell ?

surely you would end with a huge physical stash ? I suppose I am looking from a renting property pov, perhaps you have your own property ?

 

I was/am going to get a few coins but mainly small bars.....

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why only coins prey tell ?

surely you would end with a huge physical stash ? I suppose I am looking from a renting property pov, perhaps you have your own property ?

 

I was/am going to get a few coins but mainly small bars.....

 

GOM, have you thought about pre 1920 & 1947 UK coinage? (92.5% & 50% silver respectively)

 

I certainly would not advocate buying these only as part of a silver portfolio, but there is a relatively little premium and it provides a tax-free way of getting silver (and fun too if you like looking for hidden treasures!!)

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Still am over the long haul...

 

However, it's all about making money in the end, so there's no point sitting there when you sense a good kicking heading your way. Better to take a calculated risk when the opportunity arises imho, afterall, silver isn't the only game in town by any means. Opportunity cost also comes into the equation as far as my personal strategy is concerned.

 

If I'm right, I stand to accumulate a lot more silver, if I'm worng, there will always be other opportunities. Silver is very volatile, there will always be other opportunites, guaranteed...

 

If you're worried about the state of the world, then don't be greedy, buy and hold gold instead. It's the ultimate safe haven bar none. Why take the risk of getting frazzled by the silver traders and the Cartel?

 

PS. We seem to have turned this into a silver thread. Perhaps we should refrain and move over to the silver thread? :lol:

 

yes fair point re the silver's volatility, especially for someone like me with limited experience. h'mmm.......this is exactly what I need, lot's of opinions & chat to help me decide.

 

one minute I am thinking about getting 40% silver, next I am thinking just all gold.....

 

it's because I hadn't planned this french house sale tbh......& we have just done a full house move in the UK as well.

 

I am mentally knackered......seriously. 1500 mile round trip drive & emptied my loft in france & back to UK on me tod.........3 days after the UK house move. This makes 4 house moves since returning from france in 2006 ffs :o :o

 

never, ever again.............seriously, well until next year when we relocate to Devon. :blink:

 

anyway, back to silver talks.......

 

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If there is massive volatility [assuming inflation and deflation scares], if you manage to trade silver with gold and back again on the ratio, if you can accumulate further metal with your metal, where is the wall of worry?

 

If you already have a decent postion, why not focus on the ratio, utilize the volatility, and forget the day to day dollar price. :rolleyes:

 

yes maybe i am a bit price obsessed at times, but i have started to do some short-term trading in addition to holding physical. tbh, i enjoy the short term game because of the volatility!!! and 'guessing' the price!!!

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it's because I hadn't planned this french house sale tbh......& we have just done a full house move in the UK as well.

 

Pourquoi? :D

 

Please don't respond in French 'cos that's as far as my Franglaise extends to...

 

yes fair point re the silver's volatility, especially for someone like me with limited experience. h'mmm.......this is exactly what I need, lot's of opinions & chat to help me decide.

 

one minute I am thinking about getting 40% silver, next I am thinking just all gold.....

 

it's because I hadn't planned this french house sale tbh......& we have just done a full house move in the UK as well.

 

I am mentally knackered......seriously. 1500 mile round trip drive & emptied my loft in france & back to UK on me tod.........3 days after the UK house move. This makes 4 house moves since returning from france in 2006 ffs :o :o

 

never, ever again.............seriously, well until next year when we relocate to Devon. :blink:

 

anyway, back to silver talks.......

 

Again, please don't let I or any other poster disuade you from acting in your own best interests. Having said that, I would summise that you'd probably be better off taking some more time in coming to a conclusion given your endeavours of late. Also, it's far better to get it right with the longer term trend in your case judging by what you've divulged rather than to speculate on short-term volatility.

 

Yes, you could enjoy huge profits in a very short time, but the facts tend to suggest most get more than they bargained for playing that game and you've been around long enough to appreciate that more than most I suspect, so I'll stop teaching you how to suck eggs now...

 

Just be careful that's all, I personally don't believe this to be the time for putting your nads on the line, that's all. What you invest in and how much is purely a decision for you alone. Well, may be you should consult with your better arf as well... :)

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GOM...Nothing more to say (well not today)...

 

Jim Rogers 22nd July on Silver/Gold.

 

(32.08mins) The whole vid is worth a watch tho IMO.

 

Nice one, thank you. And, yes, I like those Aussie nuggets too. :)

 

I think I will buy a few more Aussie SILVER coins soon.

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Nice one, thank you. And, yes, I like those Aussie nuggets too. :)

 

I think I will buy a few more Aussie SILVER coins soon.

 

No problem!

 

Jim Rogers “I do actually have a silver coin in my pocket. I also have a gold coin, but the silver one is probably my better play. If I were a bright young man, I would be buying sugar now and silver, given the state of the world".

 

Jim Rogers is always worth a watch, but that video brought a big smile to my face.

 

Being in my 20's, I fail to see how holding some silver will not be a good investment in 10-20yrs (assuming it doesn't take off before then).

 

He's always got his eye on the fundamentals, so i'm not surprised he's right on the money with Silver.

 

One of a very few good guys out there.

 

 

 

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