EdwardTeach

0.25 would be my guess.

I'm looking forward to it. It’s exciting! I can’t wait!

Yes this will be massively inflationary over the next 6 months to 2 years.

The history books show that the people who are in charge during an empire collapse are never the same people who are in charge after the collapse. If history repeats itself again, and it probably will, there’s a reckoning coming and the so called ‘elites’ should be afraid.

Everything that’s happening in the world right now does have more than a slight whiff of the fall of the Roman Empire about it. History doesn’t repeat but it often rhymes (or whatever that saying is).

When people see how bad CBDCs are they might prefer to accept BTC instead. I know I would.

People won't be thank you for trying to help them but for every ten people that won't listen one person will. Keep going anyway and focus on the one out of ten who are open minded and willing to learn about what's happening. I know one person who listened to me a year ago who bought some PMs and prepared for food shortages and inflation. Already they're richer now than they ever have been before in their life and look set to keep going much further. For me this one person has made it worth the effort. All the people who called me a tinfoil hat conspiracy theorist two years ago for warning about a banking crisis and currency collapse are the ones who are now in debt or struggling to cope and will probably lose their houses and any savings they may have in the bank. You can't help everyone but if you keep trying you can help the few who are willing to be saved.

They want to stop BTC but can they actually do it?

It’s interesting that BTC is going up more than the altcoins are which is unusual in the crypto markets. This suggests to me that people are looking for a safe haven to keep their money safe rather than to speculating to make a profit.

Buying silver is like taking out insurance to cover 100x the price of your house when you know your neighbour is a compulsive arsonist. You don't want your house to burn down but you know it's likely to happen so you might as well profit from it.

That's a silver hat not tinfoil.

Nobody is ever right every time. None of us can see into the future. All we can do is take an educated guess. From what I can tell the majority of people here are suitably intelligent and much better educated in the Austrian school of economics than most are so our educated guesses are probably considerably better than most peoples are. Oh and for the record I do think that gold has a fair chance or reaching $10,000 within the next few years. Possibly even as early as 2025 or 2026 if the world turns bad but by then a loaf of bread will likely also cost well over $100 too (food prices are one of the few things which are likely to go up even faster than gold will).

At least we'll own gold and be happy. 🫓

Random guess... Up briefly for the first hour or so then down slightly finding a new floor around £1600.

I think you're doing a better job than the papers. Keep it up. 👌

I wonder if UBS are using this opportunity as a get out of jail free card? This is just a guess and I have no idea if this is true or not. But what if UBS are as bankrupt as Credit Swiss were and they know will collapse themselves soon too. So to save themselves they say they will buyout Credit Swiss but only on the condition that the Swiss central bank will bail them out if they collapse too.

Thanks. So I did have it the wrong way round then. I wasn't too sure but I did wonder.

Yeah maybe. Maybe I'm getting it mixed up here but wouldn't it be the other way round? If the USD drops against the GBP wouldn't that cause gold will go up in GBP?

It depends on what the banks do next. If the bailouts and mergers work and they don't collapse within a week or two I think that maybe gold will have a small pullback to around £1600 over the next month. If the bailouts don't work and more banks start to collapse then gold will continue going up to the moooooon!

Every time the MSM deliberately avoids an obvious news subject and tries to distract me with other non-important stories tells me everything I need to know about what I should be focusing on (it happened a lot during the covid farce). The banking collapse is an example of one of those times now. So ignore what Gary Lineker or any other celebrities are mouthing off about today and ignore what weird retarded stuff people are pushing in the woke wars today and instead pay specific attention to the real story the newspapers try to play down or hide.

The house was just an example. You can work out a gold to asset exchange ratio yourself for any asset you want. It’s easy. Step 1 - What is the current price of gold in pounds. Step 2 - What is the current price of the specific asset you want to buy in pounds. Step 3 - Divide answer 2 by answer 1 and you get the current gold to asset exchange ratio for that specific asset (this ratio will vary for different assets). The exchange ratio will change over time too as the price of gold and the asset fluctuate. No one knows what the peak gold to asset exchange ratio will be so just use a bit of common sense and guess work here. When you think/guess it’s at or near the peak exchange ratio sell your gold for currency and buy the asset with the currency straight away.

You’re thinking about it all wrong. With a devaluing fiat currency there is no point converting gold into pounds at any price. “At what point would you exchange your gold for real assets?” should be your question here. For example at the current conversion ratio you could swap about 100 oz of gold for a small two bedroom house. That’s a lot of gold for only a small house. As asset prices drop and gold prices go up that ratio will improve considerably. At it’s peak we are likely to reach a point where we will be able to swap just 10 oz of gold (or less!) for a small two bedroom house. This means that at the current price gold is still a long way off its peak ‘real world asset’ to gold ratio value. The gold price to fiat currency ratio is irrelevant. The gold price in real asset terms is all that matters. How much ‘real stuff’ can I buy with gold. When I think we’ve reached the peak gold to asset exchange ratio that is when I will sell my gold and not before. Wait until that ratio peaks then temporally exchange your gold into a currency and use that currency to buy the real assets that you want at a massive discount. This global currency collapse is a once in a lifetime opportunity. Don’t waste it be selling your gold early before everything has crashed.

There it is folks. £1,634.77 - weekend close £1,636.38 - new ATH

Friday night smackdown? Just kidding. 😂