Credit deflation and the reflation cycle to come (part 6)

[M S E Refugee]

1 hour ago, JMD said:

MSE, (not a platinum related question) i believe you buy silver from Brittania Coin, have you bought any of their silver Crown's? Site says they can't guarantee which commonwealth country jurisdiction the Crown's may come from but I note these ones (in below link) are described as being from Falkland Islands. I'm no expert but am thinking for purposes of future resale the Jersey/Guernsey ones would be the easiest to trade? And perhaps ones like Jamaica, Mauritius might be better to steer clear of?

Excuse my detailed question but I recall you breaking down the numbers for some of the junk bulk silver coins on this site before so you might be familiar with these coins also, but of course absolutely no pressure to answer.

https://britanniacoincompany.com/buy-coins/best-value/world-silver-crown-coin-best-value-silver-bullion/

 

 

I have bought Silver Crowns in the past but only with C.O.A's as many of the Silver Crowns also have a worthless Cupro-nickel version of the same design.

Also they are hard to offload, I tried to sell some that I bought very cheap and nobody was interested on the Silver Forum so I ended up sending them to be melted down.

The only Silver I buy now is Pre 1947 and Sterling Scrap Silver, I know Silver bugs don't like hearing this, but buying Silver Bullion coins and Bars in the UK isn't a viable investment due to the premiums and VAT.

If you want some exposure to physical Silver I would stick to Pre 1947 and use Bullionvault for convenience sake.

[M S E Refugee]

49 minutes ago, Plan-b said:

 

You can get it VAT free with low premiums on BV, heres a write up with a lot of useful information.

https://www.bullionvault.com/platinum-guide/platinum-investment

 

Bullionvault is good for Silver and Platinum but you do have Counter-party risk.

 

[Bobthebuilder]

8 hours ago, Shamone said:

The coach went through the East End.

 

[Plan-b]

15 minutes ago, M S E Refugee said:

Bullionvault is good for Silver and Platinum but you do have Counter-party risk.

 

Yes the convenience and cost savings do come with a downside. I balance it in my mind as If I ever get twitchy or desperate I would take delivery from them.

Never tried that though.

[M S E Refugee]

Just now, Plan-b said:

Yes the convenience and cost savings do come with a downside. I balance it in my mind as If I ever get twitchy or desperate I would take delivery from them.

Never tried that though.

If you take delivery you would have to pay the VAT on Silver and Platinum if you live in the UK.

[Plan-b]

6 minutes ago, M S E Refugee said:

If you take delivery you would have to pay the VAT on Silver and Platinum if you live in the UK.

Yes and a delivery premium so it would not be a first choice. Maybe in anticipation of a possible SHTF situation.

 

Edited July 2, 2023 by Plan-b

[Plan-b]

41 minutes ago, M S E Refugee said:

Bullionvault is good for Silver and Platinum but you do have Counter-party risk.

 

There is county party risk with home storage, burglary, fire, threats of violence to turn your stash over by intruders. Insurance is expensive and mainly aimed at numismatic collectors. For people who travel a lot for work or other reasons an uninsured stash (one might not get insured if away for long periods) at home is not a very attractive proposition so for me I decided to not go with that option.

Others my have better and more suitable conditions for physical ownership. 

[belfastchild]

29 minutes ago, M S E Refugee said:

If you take delivery you would have to pay the VAT on Silver and Platinum if you live in the UK.

I haven't tested if its gb only for vat. NI might be a special case due to single market, dunno. Would have liked another monster box to round off my numbers but prices went so high I moved on to other things.

[M S E Refugee]

18 minutes ago, Plan-b said:

There is county party risk with home storage, burglary, fire, threats of violence to turn your stash over by intruders. Insurance is expensive and mainly aimed at numismatic collectors. For people who travel a lot for work or other reasons an uninsured stash (one might not get insured if away for long periods) at home is not a very attractive proposition so for me I decided to not go with that option.

Others my have better and more suitable conditions for physical ownership. 

I can't disagree, it's pretty insane that we have to go to these lengths to protect our hard-earned cash.

[Loki]

23 minutes ago, Plan-b said:

There is county party risk with home storage, burglary, fire, threats of violence to turn your stash over by intruders. Insurance is expensive and mainly aimed at numismatic collectors. For people who travel a lot for work or other reasons an uninsured stash (one might not get insured if away for long periods) at home is not a very attractive proposition so for me I decided to not go with that option.

Others my have better and more suitable conditions for physical ownership. 

Technically that isn't counter-party risk, it's just risk 

[Plan-b]

Just now, M S E Refugee said:

I can't disagree, it's pretty insane that we have to go to these lengths to protect our hard-earned cash.

Especially when trying to protect it from the Government and the BoE, ironic when in effect we pay their wages to serve us - not to devalue our labour or give it away to anybody they see fit.   

[Plan-b]

3 minutes ago, Loki said:

Technically that isn't counter-party risk, it's just risk 

25 minutes ago, Plan-b said:

There is county party risk with home storage, burglary, fire, threats of violence to turn your stash over by intruders. Insurance is expensive and mainly aimed at numismatic collectors. For people who travel a lot for work or other reasons an uninsured stash (one might not get insured if away for long periods) at home is not a very attractive proposition so for me I decided to not go with that option.

Others my have better and more suitable conditions for physical ownership.

 

There you go fixed for me 

Edited July 2, 2023 by Plan-b

[Plan-b]

8 minutes ago, Loki said:

Technically that isn't counter-party risk, it's just risk 

Technically I wrote 'County Party' risk so I was in error twice 

[Long time lurking]

[Cosmic]

27 minutes ago, Long time lurking said:

Mandatory voting with presumably only one option, ala NK?

[The Bear of Doom]

5 hours ago, JMD said:

I'm thinking of buying some physical platinum.

I don't know what's up with me, but when I first read that, I read it as physical plutonium! 

[The Bear of Doom]

29 minutes ago, Long time lurking said:

I hope that if they do implement mandatory voting there is a "none of the above" option.

[Chewing Grass]

32 minutes ago, Long time lurking said:

Would be the best way to get rid of Plaid as Zealots are the bulk of their block.

[MrFanciful]

7 minutes ago, The Bear of Doom said:

I hope that if they do implement mandatory voting there is a "none of the above" option.

I once heard that this is how it is in Australia. Told they basically have an option of “No one is worthy of my vote”.

I could be wrong though.

[Noallegiance]

23 minutes ago, The Bear of Doom said:

I don't know what's up with me, but when I first read that, I read it as physical plutonium! 

What a minute, Doc. Are you telling me this sucker is nuclear?!

[Lightly Toasted]

58 minutes ago, The Bear of Doom said:

I hope that if they do implement mandatory voting there is a "none of the above" option.

https://www.abolishthewelshassembly.co.uk/

With compulsory voting that's where my X would be. Similarly I suspect with many other disgruntled/refusenik voters, rounded up and forced to exercise their choice. 

Hmmm... 

[Pip321]

31 minutes ago, Noallegiance said:

What a minute, Doc. Are you telling me this sucker is nuclear?!

1.21 jiggawatts.

Are you telling me you made a Time Machine…..out of a Delorean?

Roads; where we’re going we don’t need roads.

One of those films which effortlessly somehow became a gem. Not because it was a wonderful film but because the characters, actors, colour and writing just works. 😉👍

 

[We Live In A Society]

 

[tank]

8 hours ago, JMD said:

I agree it is surprising that those generational wealth discussions aren't being 'aired' - but I also bet they are being had all the same, just behind the scenes and are not broadcast on MSM. Actually I do recall seeing a number of such discussions on TV in the years following the GFC; the conservative minister David Willet's back then and since kinda made it his domain with book and lectures (someone on here posted one such lecture a few weeks back). However I think the nub of it is many younger people are voting with their feet and just choosing to leave the UK. 

In terms of political action I notice Labor have been very quiet on this whole issue, but suspect they have all manner of generational wealth policies waiting to be implemented/inflicted after their election win.

 

Of course Labor are pretty obtuse on many macro things, and are characterised by doing complete 180s on former set policies. I think they are mostly intellectually confused but have secretly embraced becoming 'Luxury Communists', based on the premise that we have entered a post scarcity world, due to technology and also believe the future is deflation 'all the way down'! 

Below is an old Guardian article. It actually coincides with the time of Corbyn's leadership (remember he wanted to pilot the shorter working week into the NHS), but wouldn't be surprised if Starmer's covert grand vision is very similar.

This stuff may all sound totally fanciful but I'm reminded that Viktor Shvets, the Macquarie banker in his book, predicts that during 2030s a similar communist big state takeover, removal of banks, rethinking of the work/job principle, deflationary 'post scarcity' world will happen. He maintains the changes won't be pleasant, and politically utopian yes, but will be forced to happen because will be the only solution left for leaders to unwind the massive financialisation and crippling debt, and will also involve reallocating investment into the 3rd world to avert Africa collapse and subsequent mass migrations into the West...  Maybe the bi-polar world we are now seeing emerge, not to mention the energy supply shock, might derail this course but then again perhaps in 10 years time the East and West will be very - scarily - similar looking and it will be natural for them to cooperate closely.

https://www.theguardian.com/sustainable-business/2015/mar/18/fully-automated-luxury-communism-robots-employment

 

Starmer is a quintessential post 1979, neoliberal, globalist urbanite cut from the same cloth as Blair, Cameron, Johnson, Sunak and Hunt. Part of the same Oxbridge cargo cult.

There is no way he holds the same views as old Trots like Corbyn and McDonnell.

He is a neoliberal placeman through and through. 

Edited July 2, 2023 by tank

[JMD]

2 hours ago, The Bear of Doom said:

I don't know what's up with me, but when I first read that, I read it as physical plutonium! 

Could have been worse, if you'd read it as pollonium or novichok - you would definitely be in the weeds without a paddle!!