Martlet

I dont think his age comes into it, just poorly informed views. Doesnt understand PE or real investor sentiment, completely disregarded value of dividends. 

I dont think his age comes into it, just poorly informed views. Doesnt understand PE or real investor sentiment, completely disregarded value of dividends. 

Unconventional view I know, maybe its not their silver and its held for client(s), who wanted to take profit?

Unconventional view I know, maybe its not their silver and its held for client(s), who wanted to take profit?

Welcome to the irrational behaviour of markets.

Welcome to the irrational behaviour of markets.

Welcome to the irrational behaviour of markets.

@OldunWould you say a target of 4% inflation is reflected in current price increases, or expecting far higher?  Right now we dont have anywhere near 4%, and large risk of deflation.  The concern would be PM prices are in a commodity bubble, ready to burst on a minor policy change, not a steady increase that encourages medium-long term investment. 

Not really semantics, mirror means copying, front running is ahead of and implies speculation here as events have not happened.  There is presently no significant inflation. Asset price increases are not inflation, commodities go up and down all the time independent of inflation. 

Think its time for some legal action, if only to spike them in to action. I cannot understand why a trader would dismiss a problem so lightly, insisting the delivery is good, to the detriment of their own reputation.  

Think its time for some legal action, if only to spike them in to action. I cannot understand why a trader would dismiss a problem so lightly, insisting the delivery is good, to the detriment of their own reputation.  

Yeah that is a crappy attitude from them, and not just down to curtness.  Presenting the information and expressing this is a UPS issue is right way to go.  If they simply dismiss it, then its time to go legal.  Report as theft to the police, and ask GS to cooperate with investigation of UPS. 

Yeah that is a crappy attitude from them, and not just down to curtness.  Presenting the information and expressing this is a UPS issue is right way to go.  If they simply dismiss it, then its time to go legal.  Report as theft to the police, and ask GS to cooperate with investigation of UPS. 

Gold and currency are both ideas. Gold the metal is the medium for an idea that value can be transferred through time. In the material world gold the metal has relative few uses compared to its above ground stock. Yet the idea it embodies (money) gives it value (at the moment). That idea is shared by crypto currency by the way, which has no material value, but value as money. Go figure.
Currency can also embody the idea of money, it has done so in the past via the interest rate. However currency is primarily the idea of exchange, or rather the means for exchange that is most effective, especially today in which it can be entirely digital (crypto currency competes here too, unlike gold). You are correct in that the medium has less material value than gold, but what does that matter when the value of them both has very little to do with the material? 

It can be hard going.  The "f" for "s" do me head, inconsistent with Silver, paffing (passing), Sixty fix (six) and my favourite finefs (finess).  How did we rule the globe?  
Anyway, its apparent that gold sovereign isn't defined at all, except by inference.  There's how much silver can be minted how many shillings, which is known £ value of a troy oz gold.  Thats divided by weight (~373g), to arrive at 7.98g.  I think, i tapped out mid-way through. 

Seems to me this wager is really simple, no conditions except $price recorded by LMBA on $date.   If some re-valuation or other far out scenario occurs, roll with it. 

There have been a number of banks putting out buy gold news, with high targets.  

Worth noting at the time of creation of the sovereign (1816 Coinage act), £1 was 20 shillings.  Those weigh 5.6g each so 112g, less than a third of a troy pound.  And thats sterling silver, so lose 7.25% silver.  Silver was not legal tender for values above £2 as a result of the new coinage too, interesting for all the what is money debates.  Comparisons of gold to silver values through history fall apart as soon as you dig into detail.

Worth noting at the time of creation of the sovereign (1816 Coinage act), £1 was 20 shillings.  Those weigh 5.6g each so 112g, less than a third of a troy pound.  And thats sterling silver, so lose 7.25% silver.  Silver was not legal tender for values above £2 as a result of the new coinage too, interesting for all the what is money debates.  Comparisons of gold to silver values through history fall apart as soon as you dig into detail.

Just for ***** and giggles I went on the Bank of England interest calculator. It's a fun thing that. It goes back to medieval days so you can pretend how much you would have got paid in your current salary value back whenever. https://www.bankofengland.co.uk/monetary-policy/inflation/inflation-calculator
Then I thought... if £1 was 1 sovereign back in the day, I'll pick a random date and work back from there to see how much i would have if i had those same sovs now.
Take £1000 now. Transport its fiat value back to, say, 1914 (before sovs were 'withdrawn'). You would have got just under 9 sovs for that.
Now, take those 9 sovs and time machine it back to now and the combined value of them would be c.£3000 spot... 
So. Could gold be 3x overvalued right now! Could it really be worth.... a third of current prices (£480)... therefore hitting pretty close to Wonglers crash claim (£400).
I jest again.

Also...
One pound (a Gold sov) in Silver (Ozs in a Pound) would be 16oz of silver.
£22 per oz of physical silver x 16 = £352 
£352 will just about buy a sovereign now.
So all the people who say silver is massively undervalued may be wrong??? It’s bang on what it always was. In £s Sterling that is 😉 

Really? According to the charts on this very forum, it's slightly up... What am I missing?

Assume you have to pool gold or silver, those are the rules for other assets and HMRC likes consistent rules.  I think there may be an argument that as a specific coin can be identified (unlike a share), you can say when that was purchased separately so calculate profits (or losses) accordingly.  I dont know if this is a valid defence. 
It should be noted pooling benefits us in a rising market.  Later purchases reduce the profit of earlier purchases when you sell them, so you are taxed on the higher pooled average value rather than the original purchase value.  Inversely, pooling does have the affect of reducing the benefits of averaging down from a falling market. 
This is only a problem when you have at least 12k profit (current allowance), so its an unlikely problem for most. Keep a record and sort it out then. 
Gold and silver are not chattels, classified as either money or investment. Chattels is specifically to cover everything else. 

I've modified the velocity to twice that of the original. now when everyone settles
their personal iou's(using the same £20) you can see that the price of goods and
services have doubled(inflation) without the need for more currency to be printed.
the same £20 has now created £320 of gdp(ie it has circulated twice per person).
 
HH

Your response is obtuse, either lacking in understanding or intelligence.
I find it is very often useful in understanding concepts to look at extremes and the opposite viewpoint. If you are able to understand and accept my example, which is quite easy really, it will help you to understand the other extreme which you seem incapable of at the moment.
Oh, and I didn't say "Currency Velocity can increase Currency supply" as you incorrectly state, please read more carefully. I said it can effectively do so.
I have shown you an example of how low velocity can effectively reduce the money supply. It really shouldn't be that difficult to understand how the opposite must be true.
Therefore my previous statement is quite obvious. You must take the money velocity into consideration before you make sweeping statements about money supply.