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kimchi

Gold Premium Member
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    United Kingdom
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Reputation Activity

  1. Thanks
    kimchi reacted to katmonkey in Made to Defy Logic   
    I received an email from Royal Mint today:

  2. Haha
    kimchi reacted to clads in Made to Defy Logic   
    Haven't they already defied logic with the 4 legged tripod?
  3. Like
    kimchi reacted to kena in How Much Gold and Silver Is Needed For Financial Crisis   
    goldsilver.com appears to be a US site.
    I find it a bit odd that don't say where they are located or where their offices are.
    Their privacy policy gives an address in California on https://support.goldsilver.com/hc/en-us/articles/216269187-Privacy-Policy while in their support section it gives an Illinois address on https://support.goldsilver.com/hc/en-us/articles/360045366832-Which-address-should-I-use-to-mail-my-check while another question they say their corporate HQ is in New York on https://support.goldsilver.com/hc/en-us/articles/215556968-Where-is-your-office-located-.
    If I was potential customer, I would find this ringing some alarm bells.
    Some companies that I consider the big kids back home in the USA such as Apmex, Provident Metals, and JM Bullion do give the information about their office without that much poking around.
    I also prefer companies that I deal with to give a product at a good price with decent service with clear information of who they are where they are located.  No drama or hype about what I should be buying or how much.   Seems not that much has changed with the hype in my lifetime, I still recall when the Hunt Brothers tried to corner the silver market.
  4. Haha
    kimchi reacted to pricha in How Much Gold and Silver Is Needed For Financial Crisis   
    Best not to overthink things. I collect it because it's pretty 😆 . It's part of a diverse portfolio as they say . 
  5. Like
    kimchi reacted to Tn21 in How Much Gold and Silver Is Needed For Financial Crisis   
    I believe they will get hit in a crisis, I think the safe heaven aspect will kick in only after the dust begins to settle. 
    I'm just a novice so I can't really give you and answer on the other 2 questions
  6. Like
    kimchi reacted to ady in How Much Gold and Silver Is Needed For Financial Crisis   
    What you have to remember is at the moment is that  everything is controlled by the derivatives markets. Most prices can be put where ever through derivatives. With the PPT, FASB56, SDR's, & Crypto, the PTB are in total control. The Central Banks will run this till it breaks. With the CV19 they have got everyone distracted and a compliant population. They have already bought huge assets with free printed money it just a matter of time till either we get full on totalitarianism or more free markets. 
  7. Like
    kimchi reacted to Stu in How Much Gold and Silver Is Needed For Financial Crisis   
    **** me. A Roman soldier would put his life on the line for around 3g of silver per day. Strange times indeed. 
  8. Like
    kimchi reacted to Stu in How Much Gold and Silver Is Needed For Financial Crisis   
    It is odd, Mike M aft advocated that a monster box of silver(500toz) would be able to purchase a median house in a downturn.  Now we are to accept we need 3 monster boxes i.e. 1500toz or 3 houses to maintain $6000 yearly expenses over a 5 year period in a downturn. I’m confused. 
     
  9. Like
    kimchi reacted to SilverStorm in How Much Gold and Silver Is Needed For Financial Crisis   
    I apologize if this topic has been covered; I did a quick search and did not find anything similar.    I came across the following information and wanted to share, as I thought it was quite intriguing.
    Note: I am not advocating whether or not a person should stack.  This is a personal decision, and is based on many factors such as your personal circumstances, your financial goals, your personal beliefs in holding precious metals, etc.  Always discuss financial matters with your financial advisor on what is the correct path you should take.  What is the right decision for one person may not be appropriate for another. 
    You may agree or disagree with the posted content, and I look forward to hearing your comments.   Please keep in mind that the charts below is based on old gold price of USD $1,300 and old silver price of USD $20, which needs to be taken into consideration.  Link to the website I copied/pasted from:  How Much Gold and Silver is Needed for Financial Crises (goldsilver.com)
     
     
    Here's How Much Gold and Silver You Need for the Crises
    Most of you reading this are already convinced of the need to own gold and silver. But as you continue to accumulate, a question naturally arises: how much do you need?
    Imagine the sick feeling in your gut if we get to the next financial crisis and you suddenly realize you didn’t buy enough bullion to get through it. For this reason alone, it’s worth thinking about how many ounces you might need.
    More and more investors are recognizing this, and we receive questions about it. The wording varies, but the basic question is the same: how much physical gold or silver should I own to be in good shape should an economic crisis hit?
    Why Traditional Advice is Meaningless in a Crisis
    Traditional financial advice is that gold should comprise 5-10 percent of assets, or 10-20 percent if you’re not including home equity. But Mike and I are convinced that amount won’t cut it in the turmoil we believe is ahead. What passes for “normal” advice could be financially devastating in abnormal times. Furthermore, the lower your overall net worth, the less meaningful these percentages are. And in a time of crisis, you will need absolutes, not percentages.
    If you’ve struggled to determine if you have enough physical gold and silver, GoldSilver has created a practical guide for you. This measuring stick is a more effective way to gauge if your allocation will be sufficient.
    What You’re Doing with Your Precious Metals
    Which brings up a rather obvious question: when you sell your stash, what will you do with the proceeds?
    There will be plenty of options that run the gamut of practicality, whether that means buying undervalued investments, building a family fortune, buying a vacation home or supplementing your income during the crisis.
    The point is, you will buy something with those proceeds.
    And that is the starting point in knowing if you have enough ounces: will your stash be sufficient to support your standard of living during a major financial disorder? And there is no single right answer to this question. In other words, you shouldn’t just ask “how much silver does Mike Maloney own?” and base your buying habits on that (though I’m sure he’d be flattered). Each person’s circumstances are different, and that means having a unique strategy for yours.
    What to Expect During the Crises
    A “major financial disorder” will include inflation, of course, but it’ll be much more than that. The global economy is likely to undergo a series of crises, only one of which will be inflationary.
    And those crises won’t resolve quickly. As a result, we need to be prepared to weather all storms that hit our economy, markets and monetary system, even if they last for several years. We’ll be living through the entire transition period. And that means we may need to supplement, or fully support, our standard of living during that time.
    It is with this reality in mind that the following tables were created.
    I calculated how much gold and silver you would need based on two factors: 1) your monthly expenses, and 2) how long the crisis period lasts.
    (Note: the chart assumes the gold price keeps up with inflation, though history shows it is likely to far surpass CPI readings. If so, it’s possible we’d need less than what is shown. It also assumes you pay the taxes from another source.)
    Here’s the table for gold:

    To determine how much gold you should buy, find the monthly expense amount that will support or replace your current standard of living, and then match it to the duration. If you want to supplement your expenses by $500/month and the crises last three years, you would need about 14 ounces of gold to get through it. If you want to cover $3,000 in monthly expenses, you’d need 45 ounces to meet a crisis period of two years, and 90 ounces if it lasts four years. Those already well off or who want to live like Mike or Alex should use the bottom rows of the table.
    Of course, we own silver, too. Here's how many ounces you’d need if you’re using silver proceeds, again assuming the price keeps up with inflation.

    A $500/month supplement would need 300 ounces of silver to get through one year, or 1,500 ounces for five years.

    If you want $3,000/month, you’ll need 1,800 ounces for one year, or 9,000 if it lasts five years.

    Of course, we can use both gold and silver to meet expenses. For $1,000/month, you’ll need nine ounces of gold and 600 ounces of silver to get through a two-year crisis period.

    These amounts may look high, but keep in mind that if you don't save in gold and silver now, you'll be forced to spend a whole lot more in currency later.

    These tables show how practical gold and silver can be. They really can be used to protect our standard of living — and even improve it if the price of precious metals rises during times of crisis like they have in the past.

    So how much gold and silver do you need? I hope these tables show what you need to accumulate.
  10. Thanks
    kimchi reacted to SilverStorm in SpegTacular banned from Reddit   
    I emailed Spegtacular last night, and he replied very quickly with an update.  I am copying and pasting his email reply below:
     
    Hey Patrick,
    I’ve updated the subs several times over multiple videos and community postings but I realize it’s hard to follow everything I do in every video (would require that the viewer watch the whole thing lol!)
     Long story short, I received a second bar from a viewer (Mathew I believe) that had the same issue. I spent about a month with the bar in total. 
     Same issue as Jenny’s bar when it came to the Sigma. I did a specific gravity test and both my bar and Mathew’s bar had different readings. I recorded at the time but didn’t keep the results. I thought the different numbers were odd so I did the test about four times. It wasn’t wildly different but it did seem to show what would be less than .999 (could air bubbles cause this? I don’t know!).
     Silver gold bull said they tested hundreds of bars after the fact and found them all to be .999 with their very expensive XRF machine. They assure me there’s no issue. I didn’t personally see their results, just taking their word for it.
     The weight of both bars were practically identical. Sometimes the Sigma would bug out a little and the reading would move (twitch) on Mathew’s bar.
     I did not fire assay the bar due to Silver Gold Bull telling me their findings showed good results.
     It’s all very weird but hopefully that gives you the pieces of info I’ve put out for people.
     Wallstreetsilver’s Reddit still sucks those guys are insane
     
    Speg Tacular
     
  11. Confused
    kimchi got a reaction from Smiler999 in Gold - what should I buy?   
    Sovs if you don't plan on adding to your stack much in future or are not sure at the moment. if you go on the run internationally they are pretty much as good as Krugs If you want a couple of ounces Brits are a nice gold coin imo compared to some, some people like ASEs etc, I like Somali Elephants but not sure what the premium is like. Yes you can take a punt on the extra premium for e.g available Beasts (I like the Completer myself and that's out now, but so do many others, not sure what else apart from the Greyhound I've just seen - not the most popular Beast so may actually be one of the better bets in the future).
    We have a resident HMRC* Inspector on the forum, @HerefordBullyun I'd like to see you try to run round his ring!
     
     
     
    * Her Majesty's Rectal Cavity
  12. Thanks
    kimchi reacted to SilverStorm in What We Can Learn From the Daily Life in Lebanon Amidst the Country's Hyperinflation and Biggest Economic Crisis   
    We've all heard stories of hyperinflation in Venezuela, and how gold and silver helped some people survive the financial collapse in their country.   It has always been stories reported in the news or read somewhere on the Internet.   But no actual first person, live commentary on the economic suffering (at least I personally have not come across any).   
    I found on YouTube a first person commentary showing the effects of hyperinflation and economic crisis in Lebanon.   What the YouTuber shows is eye-opening and gut-wrenching; it shows what might happen if our own country suffers the same outcome.   
    The purpose of this thread is to educate and help one understand what daily life will look like if you have SHTF scenario, with hyperinflation at the forefront.  Does this change your stacking plans?  Should you stack more PM?   Or stack less?   Or stack something else entirely?   Prep differently?   I hope the attached video will at least help you to mull over "what if" scenarios, and what you should (or shouldn't do) to protect both your family and yourself. 
     
    My takeaways from the video:
    1) Cost of food has skyrocketed.   Price of a simple basket of food bought by YouTuber will be higher tomorrow.
    1) Electricity provided by the state is unstable or unavailable.  YouTuber pays a private company to supply additional electricity.   Minimum wage is barely sufficient to buy life's necessities (if you are poor, you are SOL).
    2) Gasoline shortages means long line ups at the pump.  And the YouTuber was restricted to how much gasoline he could buy (maximum 10 liters)
    3) Commonly used medication not available at pharmacies.  Medication YouTuber looked for: Panadol (pain), Zoloft (mental), Concor (cardio), Uropyrine (UTI), Januvia (diabetes)
    4) ATM for cash withdrawal - banks are no longer supplying cash to ATM for withdrawal, so YouTuber couldn't even get cash out.  Also YouTuber explains that he can't withdraw money from his savings account, especially savings in foreign currency. 
    5) YouTuber can't do international transactions over the Internet.  He can't get his money out of the country.  Financial institutions/central bank have no clear plan on how to solve the economic crisis.
    6) In summary, economic crisis is causing shortages in food, fuel, medicine, & electricity.  Problem will only get worse.
     
    Note: several people have commented on YouTube and asked the YouTuber if having gold and silver helped with hyperinflation.  The YouTuber was unable to provide a satisfactory reply as he probably was unsure of the answer. 
     
     
     
  13. Confused
    kimchi got a reaction from Smiler999 in Gold - what should I buy?   
    Sovs if you don't plan on adding to your stack much in future or are not sure at the moment. if you go on the run internationally they are pretty much as good as Krugs If you want a couple of ounces Brits are a nice gold coin imo compared to some, some people like ASEs etc, I like Somali Elephants but not sure what the premium is like. Yes you can take a punt on the extra premium for e.g available Beasts (I like the Completer myself and that's out now, but so do many others, not sure what else apart from the Greyhound I've just seen - not the most popular Beast so may actually be one of the better bets in the future).
    We have a resident HMRC* Inspector on the forum, @HerefordBullyun I'd like to see you try to run round his ring!
     
     
     
    * Her Majesty's Rectal Cavity
  14. Confused
    kimchi got a reaction from Smiler999 in Gold - what should I buy?   
    Sovs if you don't plan on adding to your stack much in future or are not sure at the moment. if you go on the run internationally they are pretty much as good as Krugs If you want a couple of ounces Brits are a nice gold coin imo compared to some, some people like ASEs etc, I like Somali Elephants but not sure what the premium is like. Yes you can take a punt on the extra premium for e.g available Beasts (I like the Completer myself and that's out now, but so do many others, not sure what else apart from the Greyhound I've just seen - not the most popular Beast so may actually be one of the better bets in the future).
    We have a resident HMRC* Inspector on the forum, @HerefordBullyun I'd like to see you try to run round his ring!
     
     
     
    * Her Majesty's Rectal Cavity
  15. Like
    kimchi got a reaction from SilverStorm in What 1 oz gold Britannia's to stack?   
    I've seen a lot of bullion Brits and never come across a pre 9999 one! There is no reason for me to buy one in the future given the choice, in fact I'd try and avoid them. For stacking I would just go for 'best value' or 'pre-owned' or whatever from whichever top tier UK dealer is cheapest at the time. The security features are meaningless to me, just a gimmick. I test all bullion the same way whatever it is.
  16. Like
    kimchi got a reaction from SilverStorm in What 1 oz gold Britannia's to stack?   
    Is that taking the purity/gold content into account (I guess it must be)? If so - interesting!
    I stack pure silver and pure gold (apart from Sovs, which are a special case) so I like to keep things simple, I am a simple man so maybe that's just me! Brits have been 24ct for enough years now that the thought that it's the 'standard' for bullion was with me even when I started five or so years ago. Having a few of them now I wouldn't want to go for anything else.
    I used BBP at the time and usually got one of the latest years tbh, not that I was bothered - I just wanted one ounce of gold! But there was a saving over getting brand new ones that way rather than choosing them to start with, I guess just because it's not guaranteed/they like to make money where they can. I would think if there's a slow supply of the new ones (like silver Brits at times this year) you're more likely to get an older one.
     
    Is there a premium already on these out of interest?
     
     
  17. Haha
    kimchi got a reaction from LawrenceChard in Speechless   
    Oh blimey, will someone with a sense of humour (and/or who is three tails to the wind - I am guessing that might help!) please come in and sort these clowns out? 🤣
    Goodnight gentlemen, it's been 'interesting', never a dull moment around here - good wishes to all
  18. Haha
    kimchi got a reaction from LawrenceChard in Speechless   
    Oh blimey, will someone with a sense of humour (and/or who is three tails to the wind - I am guessing that might help!) please come in and sort these clowns out? 🤣
    Goodnight gentlemen, it's been 'interesting', never a dull moment around here - good wishes to all
  19. Haha
    kimchi reacted to LawrenceChard in Speechless   
    Actually my spelling is excellent, even if I say so myself. Sadly my fingers are dyslexic, or maybe they are so far behind my brain, that by the time I hit the keys, there is a mutli-sentence buffer zone running in excess of its capacity.
    P.S. I can't tell you how my fingers reacted to "abrasive"! 🙂
  20. Like
    kimchi got a reaction from Bigmarc in Speechless   
    I'm surprised that ebay have let it got so bad (not that I've used the place for years). I agree that it needs a media interest to stop it, and surprised no-one here has suggested or bothered to get in touch with the likes of the Mail etc during this period where they are talking about gold...it's not up to us to 'police' them for their questionable standards (though I admire those that do - I don't have time myself).
    I've not received replies from Lawrence either, even when quoting, it's nothing to do with 'rank' I'm sure, don't take it personally
    Whut?!! 🤣
    We know and we love you for it (that and your abrasive nature)
    However you do need a dictionary so you can get your splleing right a bit more often
  21. Haha
    kimchi reacted to NewCoins in Speechless   
    You probably want to delete that.
  22. Like
    kimchi reacted to CollectorNo1 in Speechless   
    I'd like to know why you have asked me to delete my comment..are you themaster of the SILVER FORUM?????? MR CHARD... doesn't seem to have a problem with my post, why should you?????????????
  23. Like
    kimchi reacted to CollectorNo1 in Speechless   
    Why??? Its a fact..I'm not bothered to be honest....I talk to people on here and always get a reply..but this person who I realise is an important knowledable  member in the PM world and respect what they say...but is it too much to expect a reply???? When I ask a question, no I don't think so...if I'm wrong so be it...I'm just saying how I feel and if i/we can't say what we feel and try and get knowledge and experience from those who know more..what's the point of asking questions to give people like me more information  and what to look for in the big wide world of PM collecting...? Unless there is a hierarchy  of giving out information to certain members?
  24. Haha
    kimchi got a reaction from Tortoise in Gold - what should I buy?   
    My piles have piles now, my GP has said they now count as a separate patient and appointments have to be made separately
    By the way mate, I've been clearing some very old family stuff out the house and have found a few 'interesting items'. Keep an eye out for my threads if you want to lay your hands on e.g. some vintage peak Floyd era prophylactics etc
  25. Sad
    kimchi reacted to CollectorNo1 in Speechless   
    I liked your comments and agree..but I have contacted you many times about different things..but have never had the decency of a reply..I guess this is because you may look at my profile....and do not believe I'm worth replying too..which is OK.. I'm not a member who has alot of feed back etc...I've only just recd the "rising star" medal which to u doesn't mean much..but would be nice to get a reply from you when I post a comment to you?? Again if I'm not worthy of your time I won't bother commenting on your posts...but would it be too much to ask for a reply....e.g asking you about the new Alice in wonderland coin that you bought and I asked what is was like in hand??? I didn't get an answer but its no problem..as compared to you and your experience and knowledge I guess I'm not worth a reply..maybe one day..when I have more experience you might reply to my messages.
    Regards.....
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