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  1. Any updates on this? I'd like to know if they can be trusted too!
  2. An interesting read. https://www.zerohedge.com/markets/83-tons-fake-gold-bars-gold-market-rocked-massive-china-counterfeiting-scandal
  3. @Melon just a little private joke. There is a long thread on this forum started by @Wongerwho thinks that the gold price will fall longer term. I thought you might be in the same school of thought
  4. Ah, we have a disciple of The School of Wongernomics.
  5. I think you have answered your own question. Central banks are untrusted, everyone is debt-ridden, and the ground work for basic income (helicopter money). All of this leads to the conclusion of the end of the monetary system, therefore the safety of metal as an intermediary product comes to play. I agree that the BoE can't be trusted with what they say, but I think it will be hard to justifiy with the public, having to endure QE, low rates, corporate corruption (Wirecard), and then live through the con of austerity to be then told "ooops, we need more dough". Out of curiosity what d
  6. @sstrrs interesting point about central bank but Andrew Bailey of BoE wrote in The Times and Bloomberg that balance sheet normalisation is a goal and that guarantee of bailouts is not certain. That leads to the conclusion that bail in is more probable. If central bank opt for bank bail in with the banks themselves then I dont think it would be a policy as this is the norm. I sense Andrew bailey wants to get to a pre-2008 system. Money velocity (or lack thereof) is to my mind a condition of aggregate demand. If a majority of consumers dont have the surplus spending then it won't translate
  7. Free public banking was debated in the HoC and it was viewed as a public service, hence no fees. When banks hold cash it's worth noting that it's not cash per say but more of "cash equivalents" that might be short dated bonds gov or otherwise. Also, I dont think anyone here has mentioned the chance if a bail-in instead of the BoE bail-out as before. That is far easier to do as deposits are owned by the bank already. The FSCS (I think) has a limit of 80k but who is to say that can't drop to 20k in a week?
  8. Why not use the follwing? http://www.cruzis-coins.com/sovs/Sovmintage.html
  9. Regarding prices, we could be in a period of stagflation where some goods rise, others fall, and some remain unchanged. I think that's where we are now. Airline flights, cruises, restaurants prices, and cars are all cheap, but then food and alcohol is on the rise.
  10. I'll have a stab at this. It comes down to a liquidity crisis. In every market there are stratas of investors; institutional, retail, hedge funds and many others. In the event of a sharp loss in the stock market or somewhere else, gold holdings might be sold off to cover those losses, or previously held longs/shorts would be unwound. This was obsevered during the 07/08 crisis when the price fell as there was a run for cash (or cash equivalents), which means the gold price fell as there were fewer bids up. Personally, I can't see a fall in price as we are technicallly already in a deflati
  11. Ebay has it listed for around £1,990 and upwards, I can't seem to find any completed auctions with real bids. Seems like it is indeed above gold price.
  12. I think you may have missed what I said previously. We could have real negative rates if we get 1% interest at the bank but then inflation at 5%, then real rates are -4%. It depends what you mean by negative rates, because any interest rate is caluculated after inflation. We may never see a negative number but inflation may make it a reality.
  13. Best not to. But also, the recycling rate of copper is ridiculously high, it's almost as high as gold
  14. I read some time ago that negative rates encouraged people to save more and thus had the opposite desired effect. We may have positive nominal rates but the real yield might be lower. I suspect we will get real negative rates but not nominal.
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