Happypanda88

**gji25** · May 15

3 hours ago, HonestMoneyGoldSilver said:

Yes, the solar panel factory in China is directly connected to a bunch of coal-fired power plants. The wokies in the west wouldn't let us get away with that. We closed down the coal mines in Wales, in England, in Virginia, in Germany, and exported all of those jobs to China

China further (illegally from the POV of the EU and USA) subsidises their solar industry, artificially lowering the cost of Chinese solar panels in the EU and US

China has created a virtual monopoly on the materials and production methods necessary to construct solar panels and batteries (91% of polysilicon production for solar panels now occurs inside China whereas a couple of decades ago it was 90%+ in Japan, USA, Europe)

The USA alleges that in Xinjian, the epicentre of polysilicon production, there are multiple human rights abuses, forced labour and highly elevated pollution levels

The next step after polysilicon is making solar ingots or wafers with China controlling 97% of global production

Both these energy-intensive and highly polluting activities occur in regions of China where electricity costs 30% less than the global average. The electricity costs less due to the methods of production, lack of environmental controls and lack of worker protections

I know you are a CCP-bot but please try to remain objective. Most of us here are British or live in the UK. Do you hear us criticising our country and our government? Only all day, every day. You seem to believe that China can do no wrong. The truth is the CCP is the most evil entity on the planet. China does not outcompete the west due to inherent Chinese supremacy, China outcompetes the west due to cheating, pollution and manipulation on a global scale

Good for the silver price though gents as China attempts to monopolise the silver supply like it has done with other minerals required for the production of batteries, solar panels and electronics. The USA is fighting back though as is Europe (weakly). There's a great game going on between the military powers to secure the huge stockpiles of silver required to manufacture military technologies and enable military engineers to respond to crises. Remember silver is not being stacked or hoarded in enormous quantities like gold is, silver is being consumed and the price needs to be a minimum of $100/oz (according to the Chinese reports) to make recovering all that silver economically viable

Olive branch for the Chinese nationalist - 600 years ago, China was farther ahead of England than the UK is ahead of Africa today. What happened? Well, the Chinese in that era had the same attitude as the Chinese now - China is the great "Middle Kingdom", China can do no wrong and all other nations must bow to the Middle Kingdom. The English visited China (with assistance from Chinese navigators) and brought their finest gifts for the Emperor, including famously, European clocks. The Chinese dismissed the English and laughed at their clocks.

Soon after the Chinese Emperor (Ming Dynasty) banned the Chinese from visiting "backwards" Europe and started dismantling the great royal Chinese fleet, punishing those who disobeyed his orders with death. Fast forward a few years and guess what? The finest minds in China couldn't fix the "backwards" European clocks. It is that moment that was said to signify the shift in power from East to West (Prof. Niall Ferguson), with the tiny English coming back to China a few centuries later and dominating the entire country, the "Century of Humiliation" or something, IDK, remind me. So, please @Happypanda88, continue with your Chinese imperialism and CCP propaganda, it's the only hope we've got of ever beating China! TIA

On the covid thread, I gathered that you admitted you were misled and deceived by the Covid narrative and measures taken.
So what makes you so sure that you have not been misled or deceived about China.
If the truth matters to you then I would seek it. Else do nothing and continue with your bullsh!t.

Peace ✌️

**Gruff** · May 15

On 13/05/2024 at 19:53, Petra said:

The Chinese are scooping up silver like lots of other metals around the world so they can flood the markets with cheap EVs, solar products etc. so as to stiff the Western companies and economies

That's a very simplistic view of the global market. If what you say is the case, then why can't the western companies buy up silver and mass produce EVs and solar products cheaply ?

Are there any other factors that you have missed off which causes EV and solar manufacturers based in the West just can't not compete?

**9x883** · May 10

I check the gold price religiously everyday, even at weekends when markets have closed. 🙃

I've book-marked goldprice.org on my mobile devices and PCs ( home and work ) since Q1 2015.

I remembered gold price dropped below £700 spot when working from home in my sister's house.

Look where we are now ! 🤑

**James32** · May 10

19 minutes ago, Zhorro said:

The gold price has risen very fast for no apparent reason - what are the chances of a smack down (just like what happened a month ago)?

It's reported in FT and elsewhere that the EU is to confiscate Russia's asset to arm Ukraine. Should that be the case, Russia will retaliate by confiscating EU assets in Russia. Tit-for-Tat and no one can be trusted in the financial world. Hence, gold rallied ?

EU agrees to arm Ukraine using profits from Russian state assets

https://www.ft.com/content/10d3f259-44fe-4361-b322-2a485a0efe45

**FriedrichVonHayek** · May 10

Silver up 16% in 12 months.

Has it beaten inflation yet ?

Edit: the price was around £15.80 in 10/09/2022 (the last post) so silver spot price up by about 44% since then.

**9x883** · May 10

4 minutes ago, Bratnia said:

When the primary options are a calamitous Con party, or a Lab party where the majority of its supporters are on benefits looking to define where the public purse should be loaded from and where spent, the comedy channel a.k.a. Parliament channel becomes more of a uncomfortable comedy show.

The Con party and Labour are two cheeks of the same ar$e.

Whoever wins, nothing changes 'cause the same ar$e is in control.

You can change the Party but you cannot change its policies.

The plebs won't benefit. They will be voters regret. The show repeats every 4 years.

GOLD £1891 🤑

**kimchi** · May 9

8 hours ago, HonestMoneyGoldSilver said:

If Biden can issue $4 trillion+ in spending plans and the USA can be $35 trillion in debt, then the Treasury can have $600 billion in gold, it's basically a rounding error. There are black budget agencies with bigger budgets than that. Put yourself in the position of a global puppet master able to print your own money with zero oversight. Would you leave yourself poor or would you own a monster stack of gold and every other asset on the planet?

China is a poor country. The GDP per capita is $12,500 (IMF, 2023) and the lion's share of that is concentrated on the East Coast, where the GDP per capita is similar to Japan or South Korea ($30-35K). The west of China is one of the poorest regions anywhere on earth. China has only been an economic powerhouse for about 30-40 years. The European dynasties were powerhouses for centuries.

The USA essentially took most of the gold from the two most powerful Empires - Britain and France (also Germany) - during WWI & WWII. That's why the USA was given global reserve currency status at Bretton Woods - they took most of our gold and their manufacturing base existed in splendid isolation from war damages while Europe, China and Japan were reduced to rubble. Both Britain (Canada) and France (USA) transferred the majority of their gold, several thousand tons, to North America circa 1940 before the fall of France.

Under the USA's terms of neutrality, which lasted until after December 1941 (Pearl Harbor) no credit could be used to fund the war efforts of the UK or France - gold and USD (convertible to gold) were the only acceptable forms of payment. Thus all the gold the French and British transferred to North America ended up in the pockets of the Americans, along with the USD reserves. By the conclusion of WWI and WWII the USA had control over global finance and held a substantial chunk of the hard currency accrued by the Europeans over centuries, including the gold the Europeans took from China and India

China is on a desperate gold buying spree not because China has the biggest stack in the world but because their stack is basically non-existent relative to the size of their population - about 1g per capita compared with India's approx 17g per capita.

China needs the gold to hedge against their property market (the largest physical market in the world), their manufacturing sector and currency risk, while also signalling to the world that no matter what happens, China has the means to stabilise its economy. When the size of China's property market is roughly $50 trillion compared to the USA's $30ish trillion, China has a lot more gold to buy before it can effectively hedge anything.

I would encourage you to spend 2 or 3 ounces of your yellow metal and travel around China to see things for yourself. lt'll enable you to view things from a different angle. Being on the ground to observe with your own eyes will likely even change your perception.

I have travelled much in the last 6 months around China and SE Asia, namely Vietnam, Thailand, Singapore. My last trip was to Hohhot and surrounding areas in Inner Mongolia last month. There were four of us travelling independently. None of us have been. Before going there, my perception of the place was it is old, rustic, rural, dusty and far less developed then other parts of the country. But when we landed and saw the number of planes on the tarmac, a large modern airport and high rise buildings in the distance, it changed my mind and I was eager to explore.

After 7 days, I got a good idea of the area. Taxi drivers are the best people to get information - whether it be the cost of living, price of houses, people's wages, places to visit etc.

Everything was so affordable, from food, hotel, transport. Our hotels (international 3 star equivalent) ranged from 200-230RMB (approx. £23-26) per room. The journey (22km) by taxi from airport to hotel was 47RMB (£5.10). Local buses were 1 or 2 RMB (11p or 22p) depending on route. Petrol was 8.8RMB (97p) a litre, LPG about half the price.

A very nice meal with lamb skewers, other meat dishes and veg for four of us rarely exceed 200RMB, so 50RMB per person. Cheap meals like a noodle or rice dish range from 12-17RMB. Most locals tend to eat out and restaurants are everywhere in the city.

So with the relatively low cost of living, an unskilled manual worker earning around 4000 RMB (£440) per month aren't so poor because everything is so affordable.

With this in mind, using GDP as measurement of a country's wealth is non-sense. What matters is the standard of living and the cost of living for the general public. If someone in the UK earn 5 times as much as an average chinese worker but his salary is eaten by the high cost of fuel, food, taxes, accommodation then what the **** does it mean ? Who is poorer ?

Now a bit on gold. What surprised me the most was the number of gold jewellery stores in Hohhot. They sell a variety of .999 jewellery just like those stores found in the south of the country. I thought the people there would be less well-off. Later I found out that some people have land that sits on mineral and coal. So they are very well off. Which explains the number of high end German SUVs I saw on the road.

China has a five thousand years continous history. A written history of 3,500 years. Gold plays a big part in weddings as gifts. To say that China has 1g of gold per capita is laughable and I don't know if I should take you seriouly. But I don't anyway. Especially when you made a remark that all religions are banned in China.

As I say, I would encourage you to get off your comfortable armchair, stop being an armchair expert, spent a bit of money and travel around China if it certains you so much.

**m3rlin** · May 9

7 hours ago, kimchi said:

Out of the dollar, and yes (sorry!) I am expecting the US to be the first domino to fall.

On the contrary, the dollar (USD) will be the prettiest out of all the ugly sisters. People will haul it when all the other ugly sisters are left unwanted. The dollar is still the global reserve currency and has been since the 1944 Bretton Woods Conference. All commodities are still priced in USD. It will be the last of the dominos to fall ........ IMHO. 🙃

**FriedrichVonHayek** · May 8

**Xander** · May 8

17 minutes ago, bobski said:

So, did he do it to try and adopt the euro? Or to line the pockets of his mates?

Who knows! It's a club and you and I are not in it. 😒

**Silfrfish** · May 8

It was extremely dumb, totally incompetent and utterly stupid.

It was a fire sale of a nation's gold at rock bottom prices, a wealth transfer to special interests.

In fact, it was too stupid for it not to be the plan.

**katyc** · May 7

10 hours ago, Bratnia said:

Depends where you live, in France energy prices increased 50%, whereas in the UK they increased 300%. Energy of course has knock on effects into all other items (cost of production/transport). Self induced through poor governance.

I suppose it is labeled "Rip-off Britain" for a reason.

**katyc** · May 7

18 hours ago, Thelonerangershorse said:

I take it you've been hideing in a cave for the last year, otherwise you'd have heard about the cost of living.

The cave that I've been living in for the past 3 years is nice and comfy. I have had no worries about extortionate price increase of fuel, food or transportation costs, council tax, tax this, tax that.

My new cave is in East Asia. 👍

May 7

20 hours ago, SidS said:

Someone who came on and made a prediction that gold would crash to £400 and everyone would be out of pocket and crying into their beers... or words to that effect. When the price went up, he disappeared.

In memory of a much missed contributer - Wonger in his own words:

Oh! I do miss Wonger. Even more so now as I have made a prediction on the forum about the gold price going down.

I need his moral support 🤣

**Tn21** · May 6

29 minutes ago, Tn21 said:

Sure, I think the dip was to 2300usd

I'd like to think that would be the new baseline, but at the end of it all what's the difference between buying now and at the dip,

Circa £50quid ?

You might be right about USD2300 being the new baseline. But in years of stacking has taught me not to adopt a FOMO mindset. So I'm biding my time, already saved up to time the market based on my prediction (I could be horribly wrong of course). I tend to buy a few coins in one order. Sometimes the premium is lower when buying multiple coins. This approach has served me well thus far and it is my personal preference. I don't particularly like buying a little but often approach because of extra postage cost or extra travel expenses to the dealer.

I'm not too bothered should the gold price continues on the upward trajectory ........ But better if it goes DOWN DOWN DOWN please !!!

Where's Wonger ?!!! 😁

**Gruff** · May 6

14 minutes ago, Tn21 said:

Just buy, it will keep moving in a forward trajectory 🤔

I think

I'm waiting for a price correction, a dip forwards USD2,200ish (£1750ish). My view is that the gold price went up too quickly and likely to dip before another forward trajectory. What goes up must come down as they say ...... 😅

**9x883** · May 6

Not good for those looking to buy ! 😕

**stefffana** · May 5

From personal experience, the aluminium foil and baking soda method helps to remove tarnish but does nothing to milk spots unfortunately.

**BipolarStacker** · May 5

34 minutes ago, Britannia47 said:

Exactly the same tactics for me.

For me it was a no-brainier to hold for the medium to long term,

Just finished doing a cost averaging exercise on 14 of mine,ranging from a £210 Eagle to a £1159 Elk in price.

Will let others do the maths, but a very nice profit indeed. However past performance is no guarantee, as they say….!

Neither am I selling just yet. 😁

That is a very nice collection of coins. Well done. I found myself staring at them in admiration 😍

I used to buy mostly 1oz coins too. The main reason being that they are larger and I can appreciate the design more without having to use a magnifying glass. 😆

Also, they are normally lower in premium when compared to smaller coins, so better bang for the buck.

But with the recent hike in gold price, I found myself having to downsize and bought more 1/2oz size coins.

Let's hope the gold price doesn't go to the moon just yet, or else we'll be posting questions like which is the best 1/20 oz coin to own ! 😅

**Gruff** · May 5

I had the max amount in Premium Bonds from early 2000s up until 2015 (The max being £20k then increased to £30k). It was a save bet to park one's cash and with any luck could hit the jackpot. The returns were reasonable when the interest rate was high. I regularly get at least one £50 cheque in the post. There were even two £1million prizes at that time.

Things changed when the interest rate got reduced to 0%, I think around 2010 or 2011 and the prize money stopped coming. It was great timing (only by luck) when I decided to withdraw my cash and put it into PMs. In August 2015, 1oz au coins were around £750 mark. The price of gold is now significantly higher.

Could I have won a big prize or hit the jackpot had I stuck with Premium Bonds ? Who knows! Answer on a postcard if you think you know ! 😆

**Booky586** · May 3

47 minutes ago, Booky586 said:

It's a one of kind error and a unique coin. I'd keep it but put me first on the list @GoldDiggerDave if you decide to sell.

......but would you ask for a discount on the missing 2.9 grams 😅

**Gruff** · May 3

3 hours ago, GoldDiggerDave said:

The Royal Mint the gift that keeps on giving !! @Booky586 you like?

Can see the coin better here!!!!

I dearly love to know who would buy this type of error coin especially when it is underweight by about £170 worth of gold at today's spot price.

Welcome new members · May 3

Hello! Welcome to the forum.

.....but can your stack make her do this ? Asking for a friend 😆

**dicker** · May 3

.999 au coins can easily be scratched, so I put them in capsules if they don't come with one.

If they come in mint packaging ie. Sealed in plastic sleeve, then it'll leave them as they are.

This is except for ~~the copper pennies~~ sovereigns, where they rattle and jangle about even in 22mm capsules.

With these, I place them into a coin sleeve where it holds four like this.

Welcome new members · May 3

Hello! Welcome to the forum.

Enjoy the journey into the world of precious metals. 👍🤗

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