HawkHybrid

the price per sack of wheat increased from £3 to £12 so there is inflation.
the wheat sector used the same £12 currency to settle payment so there
is no increase in the currency supply. hence inflation can exist without an
increase in the currency supply. inflation is the rise in price per unit, which
is different from the rise in revenue for the sector(sector growth).
 
HH

that £9 already existed. the wheat sector was worth £12 before and after the poor harvest.
no additional currency was printed and no currency from any other sector was added to the
wheat sector.
 
HH

between 2015-2016 deflation probabilities decreased and gold price also
decreased, so it's inconclusive. not counting the current move we are in, it's
one for and one against.
 
HH

let's call it a fact(which people have so far not managed to prove).
why let proof get in the way of calling something a fact?
we can make it up as we go along and call whatever we want a 'fact'?
 
HH

it's never about all in or nothing. the difference is gold bugs have the
option to sell their gold at a profit now and optionally move some of
the funds into silver. it's about strategy and manoeuvrability. it's about
being able to position yourself to better deal with an ever changing
future. silver bugs lost manoeuvrability when buying during the 2015
dip, they just don't recognise it.
 
HH

it's never about all in or nothing. the difference is gold bugs have the
option to sell their gold at a profit now and optionally move some of
the funds into silver. it's about strategy and manoeuvrability. it's about
being able to position yourself to better deal with an ever changing
future. silver bugs lost manoeuvrability when buying during the 2015
dip, they just don't recognise it.
 
HH

they change it so americans can own gold again. it's a pro
that balances out a previous con. it's about balance, not
about favouring gold above all else.
 
HH

the reason nobody would bite is that people know better than
to make trades at 50/50 odds. the risk to reward ratio when
playing the gsr at anything but the extreme ends is simply not
worth it. the spread on all physical commodities is too big to
trade tiny fluctuations like that. the gold price has gone up but
it's not worth chasing it up at this late stage in the wave.
 
HH

are people remembering quick sales on gold bullion?
forum members would sometimes sell bullion sovereigns(usually)
at spot to raise cash quickly for rare opportunities in other areas.
not very common but a good amount is usually raised when it does
happen.
 
HH

the forum is a slightly different market to that of dealers.
usually you would get a photo of the actual coin that you
are buying. this puts it more similar to that of ebay. when
the difference in prices from dealers and ebay wasn't huge,
this wasn't a problem. some forum members are pricing
their coins in line with the going rate of their ebay listings
(why shouldn't they?). bullion coins bought from dealers
have the 'it's just bullion' problem(lucky dip) so are not
directly comparable, especially to collectors.
if you think of the forum sales as a limited version of ebay
without fees, then the prices should still be competitive for
the items on offer.
 
HH

the forum is a slightly different market to that of dealers.
usually you would get a photo of the actual coin that you
are buying. this puts it more similar to that of ebay. when
the difference in prices from dealers and ebay wasn't huge,
this wasn't a problem. some forum members are pricing
their coins in line with the going rate of their ebay listings
(why shouldn't they?). bullion coins bought from dealers
have the 'it's just bullion' problem(lucky dip) so are not
directly comparable, especially to collectors.
if you think of the forum sales as a limited version of ebay
without fees, then the prices should still be competitive for
the items on offer.
 
HH

how is guessing a verification that a currency is getting squeezed
out?
currently the usd is more in demand than supply can handle. that's
why we have deflation. that's why more dollars needs to be made
available for circulation. this is currently happening, not the opposite.
 
HH

shouldn't this be 8 x (1355-955) or £3200?
ie the amount he had to reinvest was his original amount
minus his losses?
 
HH

consider building an emergency fund that includes physical gold
bullion(probably best to leave out silver for now). from this you
can add items, as and when your increased understanding
allows(bargain hunting).
work on your strategy, recognising what prices 'should be' will
come with experience. 
 
HH

consider building an emergency fund that includes physical gold
bullion(probably best to leave out silver for now). from this you
can add items, as and when your increased understanding
allows(bargain hunting).
work on your strategy, recognising what prices 'should be' will
come with experience. 
 
HH

unbelievably self-centred.
 
HH

unbelievably self-centred.
 
HH

https://www.youtube.com/watch?v=POhMeqDc2Yg
 
fti
 
HH

https://www.youtube.com/watch?v=POhMeqDc2Yg
 
fti
 
HH

my newly revised understanding is the promise to pay
refers to swapping out a faulty/barely recognisable
note for a more legible one. presumably so it's easier
to make transactions with. ie you don't lose your £5
if you accidentally left it in the wash.
I'm assuming the 'sum of ...' is referring to the legal
tender ability to legally settle sums.
(I always thought the whole sentence meant legal
tender, it's actually in two parts.)
 
HH

Here is a fun read (underline and bolding mine):
https://paulwalternewbury.wordpress.com/2007/02/11/does-the-promise-to-pay-the-bearer-on-demand-mean-anything/
I promise to pay the bearer on demand the sum of……”

On a bank note it states “I promise to pay the bearer on demand the sum of……”. What that means is, the bank has pledged to the holder of that note, that on demand, they will give to the holder, the value stated on the note in gold or coinage. A bank note is merely an IOU. Therefore you are perfectly entitled by law, to ask for your bank account’s total value to be paid to you in gold or coinage – it states it on all bank notes and is authorised by the Chief Cashier of each bank. So, that means that everyone is entitled to have their money given to them by their bank, in gold or coinage. The only problem is, there is nowhere near enough gold or coinage in circulation to honour these pledges, which means in effect, the paper money is worthless. If you want some entertainment, I suggest you ask your local bank for a £10 to be paid to you in Gold. The look on the young clerk’s face will be all the entertainment you should have for one day…..
Here’s what the Bank of England states….

Legal Tender and the Promise to Pay Legal Tender

The concept of legal tender is often misunderstood. Contrary to popular opinion, legal tender is not a means of payment that must be accepted by the parties to a transaction, but rather a legally defined means of payment that should not be refused by a creditor in satisfaction of a debt. 

The current series of Bank of England notes are legal tender in England and Wales, although not in Scotland or Northern Ireland, where the only currency carrying legal tender status for unlimited amounts is the one pound and two pound coins.
Promise to pay
The “…Promise to pay the bearer the sum of …” on Bank of England notes has nothing to do with legal tender status. The promise to pay stands good for all time and means that the Bank will pay out the face value of any genuine Bank of England note no matter how old.
The promise to pay also holds good for damaged notes, as long as enough of the note survives to prove that it was genuine and no previous claim for it has been received. The Bank’s mutilated notes department receives some 25,000 claims a year for anything from fire or water damage to notes eaten by all manner of household pets. 
     

you have never been able to redeem a £5 for
5 sovereigns because it's never existed that way.
sovereigns were taken out of circulation before
the modern £5 circulated. it's not you cannot do
it now, it was never an option. you're comparing
apples to oranges.
the old £1(sovereign) is a 240 pennies system
the new £1 is 100 new pennies.
they have the same name but are not part of the
same system.
it's like how you can't say a short ton is the same
weight as a long tonne. they are not, despite being
read the same.
 
HH

currency inflation is a requirement as economies grow.
ie a $1 billion economy requires the printing of at least
$1 billion in currency in order for it to flow.
as such you cannot use inflation as a proof of a collapse.
 
the gsr is becoming increasingly less relevant as silver
becomes less able to replace gold.
 
HH

you're comparing bankruptcy(which can happen very
quickly) versus debt repayment which stands to be
paid on or before it is due. (on currency payment date
is years and decades away)
a system on it's last legs can still be decades or even
centuries away from collapse. eg the roman use of
devalued currency was very obvious by 300ad. the
eastern roman empire continued after the fall of the
western roman empire and if byzantine is considered
a currency extension of the eastern roman empire
then that lasted until 1400ad.
 
HH

you can't use the old system to evaluate what gold
should be priced at. the old system doesn't exist
anymore. with the currency printing(credit) gold is
not immediately worth $60000 upon the printing of
the currency. it takes time for the new printed
currency to re-evaluate gold to it's suitable price.
we're talking years, decades, lifetimes. (the time it
takes for people to produce goods and services
equal in value to that which is printed. the printed
currency does not represent value today but value
some day in the future. gold is not worth $60000
today, it's worth $60000 some day in the future.
 
what was printed in 1980 is becoming true today
and what is being printed today will become true
some time in the future.
 
(when I owe a mate one dinner there's no point in
asking for it in the morning. I'll make preparations
for the dinner when it's closer to dinner time. there
is a time and a place for everything.)
 
HH