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SpectrumFX

Gold and Other Precious Metal Investing

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Is gold a barberous relic which will be rendered a valueless lump of metal, good only as a door stop or paper weight once people come to their senses?

Or is it the one true money destined to reign supreme once the world abandons the fiat madness?

Or is it just a commodity we can trade, to make (or lose :)) a bit of money if we fancy the risk?

Is silver the place to be due to the industrial uses?

Why is platinum cheaper than gold? That's a bit odd isn't it?

Should we be trading the ratio between the gold and silver prices, or the gold and platinum prices?

Here's a thread we can use to talk about all of those things.

And post pictures of rockets :)

 

Edited by SpectrumFX

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My take on the this is to take the Socratic approach.  A truly wise man knows what he does not know.  The future falls into the category of the unknowable.  I have a friend in the scrap metal business who has done very well for himself.  He told me one day that he has a yard full of metal, a house and money in the bank and he fully expected that one day one of them would be worthless.  The message is to cover your ass best you can and expect to lose something.  You can't win 'em all but you can lose 'em all if all your eggs are in one basket.  Personally I have two $100 gold coins which I carry on my person at all times in case tshtf over the week-end.  I have a house which is no great  shakes but is all my own.  I have a supply of none perishable food that would last a few months and a supply of guns and bullets to defend the above.  Everything else is investment playtime.  If the world situation gets bad I will buy more bullets, more food and more gold coins.  Right now I feel over covered for catastrophe and therefore I'm happy.  tldr . . . diversify.    

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funnily enough, back in the day (2007) I was sure that Cgnao* was early in his call -- but bought a few kg of gold anyway.  Didn't do too badly on that (sold it c. 2011).  I thought that they go all out to save the economy and that the real poo-fan situation would occur at the next bust -- wonder if we're there yet... 

[someone invite Cg to this thread!]

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I find the ratios with silver and platinum of great interest at the moment. I opened a small position a while back split 50/50 silver and platinum with a view to transferring both to gold when the ratios reversed (they seem to swing back and forth over time, I'll post a chart at some point of i can get some free time on a computer rather than posting on my phone).

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4 minutes ago, Wahoo said:

I note that Americans talk about buying Gold, Silver and Bullets.  They see ammunition as a currency.

I suppose it buys a certain peace of mind :)

I bet that guy who took out those home invaders with an AR15 recently was happy with his investment return!

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6 hours ago, Frank Hovis said:

I keep an eye as one day I will get around to buying some sovereigns.

It's all so much harder than click of the mouse investing and you have to sell to get any cash back.

This is similar to my view; I like the idea of having something in my hand that I can look at, but the spread for physical transactions is off-putting.
I've got a little bit of SGLN in my portfolio as I think realistically, if things go tits up enough that I need physical gold, I'm not going to have enough gold to make much difference to my situation! I'll also be more worried about practicalities than wealth preservation. I realise an alternative currency may be helpful there.

I don't really have an opinion on whether gold is the ultimate currency, I just know that enough other people think it is that holding a little probably isn't a bad idea. Not interested in other metals as they don't really have the history that gold does. They seem to be venturing into commodity territory rather than use as currencies.

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Looks like tanks are the place to be xD

https://www.google.co.uk/amp/metro.co.uk/2017/04/10/man-finds-2-million-of-gold-in-tank-he-bought-for-30000-6563708/amp/

A man who bought a tank on eBay for £30,000 got more than his money’s worth after he discovered £2 million of gold bars hidden in the fuel tank.

Nick Mead, 55, found the valuable bullion while restoring a Russian T54/69 with his mechanic friend, Todd Chamberlain.

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43 minutes ago, SpectrumFX said:

Looks like tanks are the place to be xD

https://www.google.co.uk/amp/metro.co.uk/2017/04/10/man-finds-2-million-of-gold-in-tank-he-bought-for-30000-6563708/amp/

A man who bought a tank on eBay for £30,000 got more than his money’s worth after he discovered £2 million of gold bars hidden in the fuel tank.

Nick Mead, 55, found the valuable bullion while restoring a Russian T54/69 with his mechanic friend, Todd Chamberlain.

I think I have found my next hobby.  Tank treasure hunting.  Now, what to do with all the tanks that don't hold any gold. 

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How much gold is kept at the Bank of England?

http://edu.bankofengland.co.uk/knowledgebank/how-much-gold-is-kept-in-the-bank-of-england/

Shit loads would appear to be what they're telling us publicly.

But you can't have any xD

Can I get gold from the Bank of England today?

In the past you could exchange banknotes for the equivalent value in gold at the Bank of England, but this has not been possible since the early 1930s.

You can, however, hold a real gold bar in the Bank of England Museum.

 

Edited by SpectrumFX

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12 minutes ago, SpectrumFX said:

How much gold is kept at the Bank of England?

http://edu.bankofengland.co.uk/knowledgebank/how-much-gold-is-kept-in-the-bank-of-england/

Shit loads would appear to be what they're telling us publicly.

But you can't have any xD

Can I get gold from the Bank of England today?

In the past you could exchange banknotes for the equivalent value in gold at the Bank of England, but this has not been possible since the early 1930s.

You can, however, hold a real gold bar in the Bank of England Museum.

 

Not as much as there was before brown sold it off, just prior to the price going through the roof o.O

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I didn't do terribly well investing in physical silver (hence my name LTS) still holding but down about £5000 (bought a box of maples in 2012). It's bulky and takes up so much room, plus the VAT I had to pay. Gold is the better investment and I'll be buying an ounce every quarter from next year (when I lose my  £250 a month car lease). It's a hedge against TSHTF and if it all goes pete tongue here I can see a time when some mad max pilot flies me away from conflict (paid in gold of course) and a bag of sovereigns buys me time somewhere quiet - sod sitting it out in a bunker with a stash of baked beans. 

Most of my money is heading for miner shares though and I have a nice cushion against losses from one super brave trade I made on a platinum group AIM miner. Historically the companies providing the spades and shovelling the dirt tend to do very well in bull runs and I'd expect the same (multi-bags) to happen again.

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On 10/04/2017 at 20:54, One percent said:

I think I have found my next hobby.  Tank treasure hunting.  Now, what to do with all the tanks that don't hold any gold. 

I could use them! Some of the roads are a bit rough round here! Fucking TomTom wanted me to drive up a road that is "unsuitable for vehicles!:wanker:

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Stumbled across this article from the press of 1931 about, 'the temporary departure from the gold standard'.

Had to look up who Roland Nugent was as the FBI meant Federation of Britich Industry and he was the chairman.

His opinion on Germany may strike a chord today as he identifies inflation as caused by a 'complete exhaustion of all internal resources, the absence of foreign assets, and a hopelessly unbalanced budget'. I think we can tick all 3 there.

1931-gold-standard.jpg.41e4e5502b751f64c55d8123b8957226.jpg

Article published 3/9/31.

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1 hour ago, Chewing Grass said:

Stumbled across this article from the press of 1931 about, 'the temporary departure from the gold standard'.

Had to look up who Roland Nugent was as the FBI meant Federation of Britich Industry and he was the chairman.

His opinion on Germany may strike a chord today as he identifies inflation as caused by a 'complete exhaustion of all internal resources, the absence of foreign assets, and a hopelessly unbalanced budget'. I think we can tick all 3 there.

1931-gold-standard.jpg.41e4e5502b751f64c55d8123b8957226.jpg

Article published 3/9/31.

Nice find.

It just shows how much we've completely fucked it all up.

I doubt we'll run a balanced budget again until after a currency collapse, or a big terrifying war.

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The good old days, when shop staff would count out the change for you, and the homeworker would spend a day ironing.

I think we are due for a shock reset at some point in the future. Paper money hyperinflation - you haven't seen it digital yet.

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