-
The above Banner is a Sponsored Banner. Upgrade to Premium Membership to remove this Banner & All Google Ads. For full list of Premium Member benefits Click HERE.
Reputation Activity
-
JohnA1 reacted to PapaLazarou in Gold Monitoring Thread £ GBP only
Obiter Dictum AP Reuters, London, 30th December, 2022 - In a break with tradition the LBMA has today taken the unprecedented step of releasing the final Gold Fix of 2023 (sic). Further to increasing speculation in the financial media that prescience has long been a watchword amongst the major Bullion Houses, the LBMA - in a joint statement with Rothschilds, HSBC, George Soros and COMEX - has followed in the steps of many other powerful groups by clearly announcing its intentions for those prepared to take note. GOLD £1,666.00 10:00 AM NY Time 12 - 29 - 2023 - Ends
----------------------------------------------------------
-
JohnA1 reacted to Paul in Gold Monitoring Thread £ GBP only
Northern Ireland has the worlds largest undeclared gold holdings, ive heard on good authority
-
-
JohnA1 reacted to AuricGoldfinger in Gold Monitoring Thread £ GBP only
Wonga - the man, the myth, the leg end
-
-
JohnA1 reacted to SidS in Gold Monitoring Thread £ GBP only
Isn't it a funny thing on this forum?
When the price goes down everyone is down and despondent, trying to justify losses by cost averaging and complaining about the system being rigged and the price being knocked down.
When the price goes up, people get upset that they've not got the waggon backed up quick enough.
I think the prices going up is long, long overdue.
-
JohnA1 reacted to AndrewSL76 in Gold Monitoring Thread £ GBP only
Wonderful news. Up and Up is only a good thing. And for those who are annoyed because it means their targets are going to be hit, think about the long term and not short term. I saw a 1oz coin for sale on the sales threads the other day with the original Bairds invoice - it was under 900.00 GBP for the 1oz coin and it was bought in 2015. I know that gold is a fickle thing, but I really think that NO ONE can tell you where it is going, so you just have to buy when you have the money and maintain faith that it will rise (and hold tight [and continue to buy!] during the falls).
Cheers!!!
-
JohnA1 reacted to dicker in Gold Monitoring Thread £ GBP only
A nice start to the NY in any case if you are a holder!
-
JohnA1 reacted to Orpster in Gold Monitoring Thread £ GBP only
👆 This, unless your a Net seller, Gold going up is not a good thing
-
JohnA1 got a reaction from Maxx546 in Store of value?
Store of value? I think this graph speaks volumes.
The bottom horizontal yellow line is the price of oil in gold grams
I found this presentation interesting
https://www.youtube.com/watch?v=PHKPa8K4bQ8
-
JohnA1 got a reaction from Maxx546 in Store of value?
I originally followed my father's career.
He died having no idea why I was doing what I was doing instead of following his example: 1/3rd of salary into investing, 1/3rd paying back the family, 1/3rd for living expenses. He thought I was a spenderella fool.
He graduated in 1950, I did in 1985.
Well I recently did the sums in purchasing power using gold ounces. I converted into dollars (exchange rates at the time) and gold spot at the time. It was illuminating.
As a young officer he was getting every month the equivalent of about two ounces of gold
I was getting about one
Young grads nowadays get half an ounce.
That puts erroding purchasing power into perspective, it is not our imagination - we are being ripped off
-
JohnA1 got a reaction from dicker in Store of value?
Store of value? I think this graph speaks volumes.
The bottom horizontal yellow line is the price of oil in gold grams
I found this presentation interesting
https://www.youtube.com/watch?v=PHKPa8K4bQ8
-
JohnA1 got a reaction from Faiz in Store of value?
Store of value? I think this graph speaks volumes.
The bottom horizontal yellow line is the price of oil in gold grams
I found this presentation interesting
https://www.youtube.com/watch?v=PHKPa8K4bQ8
-
JohnA1 got a reaction from ZRPMs in Store of value?
Store of value? I think this graph speaks volumes.
The bottom horizontal yellow line is the price of oil in gold grams
I found this presentation interesting
https://www.youtube.com/watch?v=PHKPa8K4bQ8
-
JohnA1 got a reaction from ZigZag in Store of value?
I originally followed my father's career.
He died having no idea why I was doing what I was doing instead of following his example: 1/3rd of salary into investing, 1/3rd paying back the family, 1/3rd for living expenses. He thought I was a spenderella fool.
He graduated in 1950, I did in 1985.
Well I recently did the sums in purchasing power using gold ounces. I converted into dollars (exchange rates at the time) and gold spot at the time. It was illuminating.
As a young officer he was getting every month the equivalent of about two ounces of gold
I was getting about one
Young grads nowadays get half an ounce.
That puts erroding purchasing power into perspective, it is not our imagination - we are being ripped off
-
-
JohnA1 reacted to dicker in Stolen gold
Which is why safety deposit boxes are so important!
The more people that know you collect PM’s the more risky it is to keep anything at home. Particularly safe fitters and insurers…..
-
JohnA1 reacted to apachebleu in Stolen gold
Can't help but think if you walk about wearing that sort of thing you are advertising yourself to thieves.
-
-
JohnA1 got a reaction from FriedrichVonHayek in Store of value?
I originally followed my father's career.
He died having no idea why I was doing what I was doing instead of following his example: 1/3rd of salary into investing, 1/3rd paying back the family, 1/3rd for living expenses. He thought I was a spenderella fool.
He graduated in 1950, I did in 1985.
Well I recently did the sums in purchasing power using gold ounces. I converted into dollars (exchange rates at the time) and gold spot at the time. It was illuminating.
As a young officer he was getting every month the equivalent of about two ounces of gold
I was getting about one
Young grads nowadays get half an ounce.
That puts erroding purchasing power into perspective, it is not our imagination - we are being ripped off
-
JohnA1 reacted to Bumble in Kinesis Gold and Silver currency
Some perspectives:
1. This venture is attempting to create an entirely new currency to compete with existing ones. This is so ambitious that governments and central banks are likely to try to put a stop to it. The corporation may be based in friendly jurisdictions, but if major governments outlaw its use, or even just regulate it so heavily that it becomes too irksome to use, customers in most countries will not use it. Financial regulators are already gearing up to regulate cryptos. The cryptocurrency space will not remain a wild west indefinitely. The case for banning cryptos will be the same as that for banning cash: it is used by criminals, drug dealers, money launderers, terrorists, etc. Not a good argument, of course, but it carries weight with the ignorant.
2. At a minimum, regulations will require proof of identification, proof of source of funds, anti-money laundering provisions, and FATCA style disclosure requirements. Switzerland, Singapore and Lichtenstein may be sovereign states but they are coming under huge pressure to comply with regulations like these. Some financial institutions have avoided trading in cryptos precisely because they couldn't prove source of funds.
3. Price volatility may become an issue, as it has for other cryptos. Speculators in gold and silver have simpler ways to expose themselves, including leveraged vehicles. Users who just want to transact worldwide at low cost can use Litecoin or the Bitcoin lightning network. Yes, they're not backed by anything but confidence, but most users are unlikely to care: they'll go where the fees are lowest.
4. Cryptos generally are not ready for mass adoption because they are too awkward to use for the non-tech-savvy. You have to install wallet software on your computer and smartphone and learn how to make safe copies of your keys to cold storage. You also have to worry a lot more about security. One piece of malware and all your crypto has gone and is never coming back. Smartphones are completely and utterly insecure. They are designed to share information and that is what they do. You should never put any data on a smartphone that you would not wish the whole world to know. John McAfee has been working on the design of a secure smartphone, but it is likely to retail at $1000 or more. Most people do not know how to secure their computers adequately. This might be less of a problem for Kinesis, if it is centrally managed, but there still remains the issue of user authentication. With my bank, I need my card and PIN to log in to online services, and I have several other channels for authenticating myself if I need to. Without two factor authentication with physical tokens I would be reluctant to trust a transactional money system.
5. Gold backing is nice, but if there is a systemic financial collapse, governments might decide to ban all private ownership of gold. Even if the gold is safely stored in Switzerland or Singapore, it doesn't help me if I can't get it, and I am forced to sell it to the central bank at some nominal price.
-
JohnA1 got a reaction from Bars in Store of value?
I originally followed my father's career.
He died having no idea why I was doing what I was doing instead of following his example: 1/3rd of salary into investing, 1/3rd paying back the family, 1/3rd for living expenses. He thought I was a spenderella fool.
He graduated in 1950, I did in 1985.
Well I recently did the sums in purchasing power using gold ounces. I converted into dollars (exchange rates at the time) and gold spot at the time. It was illuminating.
As a young officer he was getting every month the equivalent of about two ounces of gold
I was getting about one
Young grads nowadays get half an ounce.
That puts erroding purchasing power into perspective, it is not our imagination - we are being ripped off
-
JohnA1 reacted to sixgun in Kinesis Gold and Silver currency
Well Kinesis is not exactly offshore as every company outside the UK is offshore, it happens to be registered in the IoM which does not tax profits generated outside the island. The sum effect will be the company will have a strong balance sheet and grow faster. Good for those who share in the income generation of the currency b/c the company behind it is a stronger entity.
How investors in the tokens (which should be seen as shares) deal with the monthly income stream is their own business. If you hold it as your legal entity in the UK then the pirates will demand you pay them. There is no argument about this. i have been battling with the pirates for years.
However if the tokens were held say by a Panamanian corporation then the income stream will be dealt with as income made outside Panama and so is tax free. Nothing to do with the EU, HMRC or anyone but the Panamanian government who are happy with the situation and it is a criminal offence to disclose confidential information (which is just about anything to do with corporations). The tokens are in the NAME of the corporation. If nominee directors, bearer shares and the corporation were inside a Panamanian Foundation, 'no-one' would know Jack Sh1t.
The issue is getting the money out but this is not a tax advice thread and i am not giving tax advice.
As Martlet says there is a lot of talk about clamp downs but it is just talk. It is to make ordinary people think it is too hard or too expensive or just too something else.
-
JohnA1 reacted to Pipers in Kinesis Gold and Silver currency
I just like to add, HMRC can now use RIPA this covers all taxable assets you may hold not just Blockchain and IOM etc. Worse anyone who has children and gets top-up working tax credits can get investigated from both HMRC the benefits office. Both can use RIPA.
At the same time if you have mined bit coin they are not worth anything until you convert them into fiat and you may buy works of art or gold on holiday with your bitcoin.
-
JohnA1 got a reaction from Faiz in Store of value?
I originally followed my father's career.
He died having no idea why I was doing what I was doing instead of following his example: 1/3rd of salary into investing, 1/3rd paying back the family, 1/3rd for living expenses. He thought I was a spenderella fool.
He graduated in 1950, I did in 1985.
Well I recently did the sums in purchasing power using gold ounces. I converted into dollars (exchange rates at the time) and gold spot at the time. It was illuminating.
As a young officer he was getting every month the equivalent of about two ounces of gold
I was getting about one
Young grads nowadays get half an ounce.
That puts erroding purchasing power into perspective, it is not our imagination - we are being ripped off