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KDave

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  1. Like
    KDave got a reaction from HonestMoneyGoldSilver in Sold all my gold, got stung   
    "Only hold as much gold as your understanding allows"
    Post Brexit the £ will likely crash again, Carney will see to it as he did straight after the vote in 2016 - he QE'd and knocked interest rates down losing us a sickening amount of purchasing power in sterling. Those in gold saw a relative increase in their purchasing power of their savings relative to houses, stocks, anything priced in sterling that didn't move higher right away. 
    Measured in sterling house prices have not done much around here. Measured in gold houses have crashed since December 2015. I sold most of my gold after Brexit and bought.
  2. Like
    KDave got a reaction from BLOOMMAN101 in Record Keeping - how do you keep track of your stack?   
    When using money from gold sales as part of the deposit to buy property I had to prove buying and selling the coins, I assume to prove I did not receive them as a gift, and also to meet money laundering requirements - not sure what recipes prove in that department though to be honest. Keep your invoices when purchasing and stick them in a safe deposit box with your metals like paul says. 
    There is another advantage if you stack only one or two types of coin. You can use invoices for the same type, say sovereigns, which will over the years have different values and this will allow you to play tax games - claim you are selling coins at a loss by using recent invoices if spot drops, or in the future if CGT free status is removed and you sell coins that were bought 10 years prior, use invoices from recent purchases. 'Mixed years' invoices are a good hedge against future tax changes.  
  3. Thanks
    KDave got a reaction from MetalMandible in Record Keeping - how do you keep track of your stack?   
    When using money from gold sales as part of the deposit to buy property I had to prove buying and selling the coins, I assume to prove I did not receive them as a gift, and also to meet money laundering requirements - not sure what recipes prove in that department though to be honest. Keep your invoices when purchasing and stick them in a safe deposit box with your metals like paul says. 
    There is another advantage if you stack only one or two types of coin. You can use invoices for the same type, say sovereigns, which will over the years have different values and this will allow you to play tax games - claim you are selling coins at a loss by using recent invoices if spot drops, or in the future if CGT free status is removed and you sell coins that were bought 10 years prior, use invoices from recent purchases. 'Mixed years' invoices are a good hedge against future tax changes.  
  4. Like
    KDave got a reaction from Dobber in Record Keeping - how do you keep track of your stack?   
    When using money from gold sales as part of the deposit to buy property I had to prove buying and selling the coins, I assume to prove I did not receive them as a gift, and also to meet money laundering requirements - not sure what recipes prove in that department though to be honest. Keep your invoices when purchasing and stick them in a safe deposit box with your metals like paul says. 
    There is another advantage if you stack only one or two types of coin. You can use invoices for the same type, say sovereigns, which will over the years have different values and this will allow you to play tax games - claim you are selling coins at a loss by using recent invoices if spot drops, or in the future if CGT free status is removed and you sell coins that were bought 10 years prior, use invoices from recent purchases. 'Mixed years' invoices are a good hedge against future tax changes.  
  5. Like
    KDave got a reaction from Simonz in Sovereign Photo Thread...   
    1887 Quintuple Sovereign from HGM

  6. Like
    KDave got a reaction from Griffo in Anonymity   
    This has already been said but I will say it again - If the conditions arrive in this reality that government are coming to your address for your £2500 of gold that will be the least of your problems.... because you will have also lost your boat in an unfortunate accident. Such a sad story. 
    Honestly there isn't an issue here. Buy the gold with ID, pay with debit card whatever, get it delivered - once your currency is parted for the gold, the gold is 'gone' from the system. No one knows what you did with it, there are no digital records of where you hid/spent/melted your gold. You could have used it to pay for goods and services, settled gambling debts, buried it and forgotten where you put it, etc. This is a non issue. A total non issue. Just buy your gold like everyone else. And if/when the time comes that they confiscate it.... annnnd its gone!
     
  7. Haha
    KDave got a reaction from Tortoise in Anonymity   
    This has already been said but I will say it again - If the conditions arrive in this reality that government are coming to your address for your £2500 of gold that will be the least of your problems.... because you will have also lost your boat in an unfortunate accident. Such a sad story. 
    Honestly there isn't an issue here. Buy the gold with ID, pay with debit card whatever, get it delivered - once your currency is parted for the gold, the gold is 'gone' from the system. No one knows what you did with it, there are no digital records of where you hid/spent/melted your gold. You could have used it to pay for goods and services, settled gambling debts, buried it and forgotten where you put it, etc. This is a non issue. A total non issue. Just buy your gold like everyone else. And if/when the time comes that they confiscate it.... annnnd its gone!
     
  8. Like
    KDave got a reaction from mr1030 in USA & Canadian Coins Thread   
    RCM 1 Oz coins - Gold, Silver, Platinum. The density of silver is approximately half that of platinum and gold, which in turn are very similar in density, platinum being slightly more so than gold;
     
  9. Thanks
    KDave got a reaction from FloJo in Will we see a boom in precious metals with the potential future roll out of UBI?   
    I am always in two minds about UBI, previously I would have been with Roy on the issue, but I see how benefits work and if UBI replaces them (I assume that is the intention) then I am all for it. Benefits already keeps my BATS shares paying divis and keeps the off-licence in business, UBI won't make a difference on that front. But it will make things fair, and I am all about that.
    I have watched my cousin live a life on the tax payer, handed a living for nearly two decades now for doing nothing. Perhaps half a million in sterling by now if not more. One example of millions. While those that work, pay taxes used to fund this waste and often have a lower quality of life due to not having time. Work you give up time for money. Benefits you give up nothing and get money. Seeing others who have made selfish or wrong choices rewarded with time and money, while I must give up my time, it is a killer. It has destroyed altruism and compassion. 
    UBI is a lot more Just than the current system, if it replaces the current system. Everyone gets UBI. Now the worker has UBI plus the wage and is better off for trading his time for money. Work is encouraged and rewarded. Natural order is restored. People who used to cheat and play the system, made a career out of it can no longer do so. I assume the state pension will be paid to everyone now as well, no doubt it will.  
    My major problem with UBI is the government. They will use it as a control mechanism. If you say things against xyz no UBI for you. If you don't vote, no UBI for you. If you do stuff they don't like, attend the wrong meeting, talk to the wrong forum member, no UBI for you. It will usher in Social Credit ala Communist China. Its another step on the totalitarian road - but to be honest we are already at the point of no return. Lets keep going. Its pointless arguing against benefits, I am in the minority on this, most think I am heartless when I discuss social security with them, so instead I will say lets have UBI. Bring it on. If we must have tax payer charity then lets have it in the most Just and fair way possible. It will not end well in either case.
  10. Like
    KDave got a reaction from QStack in My first trade - Shell / BP   
    In my opinion your timing and research is good, RDSB are the shares you want, dividend withholding tax on the RDSA ones. I have both companies among others in the sector, to me its a 100% no brainer although perhaps very contrarian at the moment given how much the market hates big oil. Its fashionable to hate them. I am very confident long term (mid 20's), short term I have no idea if we will get further downside or if it shoots up Monday, but be prepared to hold and accumulate through some rough times if oil breaks down again. The downside is limited imo. 
    Dividends have been cut on BP by half (still a solid 5-6% dividend depending when you bought), and instead the board are planning to buy back shares using up to 15% of cashflow. The buy backs are discretionary so power has been taken from the shareholders (dividends) and put in the hands of the board, I still expect this to return and compound perhaps 20% per year including dividends over the decade. We will see. 
    Shell have cut dividend by 2/3rds, way too far and too fast, I expect this to be raised once oil starts to recover if the board members want to keep their jobs. I expect similar returns over the decade from shell, they are a long term, potentially retirement hold given the dividend potential and position relative to LNG/Hydrogen.
    These companies are looking forward at hydrogen production to meet the green agenda (or that is how its being sold), BP in particular, as hydrogen will be the green replacement for natural gas. I am told that gas engineering certificates now include hydrogen, existing infrastructure can be used to transport store and supply it for the most part. There are also geopoitical implications of being able to produce a nations own LNG equivalent (Europe no longer reliant on Russia). This will be renewable or conventional electricity (solar wind nuclear) being used to produce hydrogen, which in turn is used in the existing gas network throughout Europe. Green agenda achieved, strategic energy achieved. Although LNG is cheaper at the moment, these companies have the size and scale to change that over the coming years through investment and development.
    As an aside Tesla looks like a shoeshine stock; I don't see anyone excited about oil and no one is talking about hydrogen, just saying. 
    Not sure about cruise liners, those are a favourite Robinhood choice so I am staying away. I am looking at Agri shares for inflation (Mosaic, Nutrient, K+S), telecoms (BT.A, VOD, TEF) and infrastructure (DRAX, NG. SSE). I like the big FTSE listed mining shares too but they have gone up too much since march for my liking and are on the watch list. Waiting for a pullback. 
  11. Thanks
    KDave got a reaction from DRGingras in USA & Canadian Coins Thread   
    RCM 1 Oz coins - Gold, Silver, Platinum. The density of silver is approximately half that of platinum and gold, which in turn are very similar in density, platinum being slightly more so than gold;
     
  12. Like
    KDave got a reaction from Scaffstacker in Sovereign Photo Thread...   
    @Clens92 Some more pictures of the date and fine details on the reverse for your to confirm your suspicions? Apologies to all for clogging up the thread with pictures of forgeries. PCGS picture of a real slabbed one below for comparison and to make up for it. 
     
  13. Super Like
    KDave got a reaction from Scaffstacker in Sovereign Photo Thread...   
    1887 Quintuple Sovereign from HGM

  14. Like
    KDave got a reaction from Ushao in Goal - Financial Independence In Ten Years   
    I have change my mind  
    Over payments when comparing investing vs over payments over the same time frames - ie, saving 5 years from the mortgage vs investing for the same time frame, the compounding effect is lessened which makes it easier to justify the over payments. 
    Although on paper you are better off investing by several thousand if you can find the return, and if you use long time horizons then the compounding returns win easily - nothing is guaranteed over such a time period and I am not convinced such a return, or the earned capital, could be reliably maintained. There is also the question/risk of interest rates rising. The idea of eliminating a recurring living cost several years early is very attractive. Although overpaying is a rather low return, it is a guaranteed return in saved interest, vs a speculative bet on compounding returns which only really matter over significant time frames. I think I can live with the lost paper capital that may or may not have come to pass in exchange for the guaranteed returns (financial and otherwise) of paying off the debt early.
  15. Like
    KDave got a reaction from Ushao in Goal - Financial Independence In Ten Years   
    Thanks chaps,
    When I calculated the 'equivalent return' on making overpayments on the mortgage, it is just over 1% return on the money in saved interest. The time saved on the mortgage might make it worth doing, as it will mean one less financial commitment sooner and reduce the risk of exposure to interest rate rises, but a 1% return on cash is poor when greater compounding returns can be made elsewhere. The other reason to pay debt off early is that to not do so is basically a speculation that interest rates will stay low and manageable over the term, which in itself is a risk. The numbers only make sense not to overpay right now - if interest rates rise, I would be better off with a smaller mortgage on which to pay interest obviously. 
    At the end of 25 years (on paper), if rates stay low I will be much, much better off investing in yield assets, and if rates go up at any point the option of overpaying is still there. If rates go up considerably later, and yield investments do very badly at the same time meaning the capital is not available to reduce the debt, then I may regret this course. 
    If the numbers change then the plan will change but right now its makes sense not to overpay at all, and to invest everything instead. Wish me luck    
  16. Like
    KDave reacted to MickB in Mortgage endowment policy surprise.   
    I had a bit of a shock/surprise on Saturday as I had two letters from my endowment provider who firstly said that I've an amber alert with a significant risk of a shortfall. The other letter was to show me the amount that I would get if I cashed out the week before. Well this amount would clear my mortgage 3 years early!
    I rang the provider who confirmed the amount and they will send me forms to fill out. Then I rang the mortgage provider who said there are no early payment penalties and will send me a statement to show the final amount I owe. I've only ever had an interest only mortgage that only just over two years ago, done a part repayment towards it. Now I've been buying precious metals and putting money into premium bonds in case of a massive shortfall but now I don't have to touch them.
    I'll be relieved when the paperwork is finally done and no more payments to make. There was no point in carrying on until the end to get maximum out of the policy as what I pay in interest is what I would have paid anyway. The savings I would make could then go onto topping up my pension payments at work.
    One large weight off my shoulders.
  17. Like
    KDave reacted to tealcisgod04 in Ruined a proof - urgh   
    So I know there are people in the world with real problems right now and nobody died or lost an eye but just wanted to share this story.  Hopefuly might give someone a LOL.
    So I've never been a proof guy... but picked up a silver proof King Canute cus I really liked the design.  Anyway that bad boy arrived in the post yesterday.  I opened him up and to my shock there was a brown globule of water inside the capsule.   I don't know if it was condensation or what.  I also know that I should have left well enough alone, contacted the seller and sent it back. 
    But I was a fool... an impatient fool and I couldn't let it lie.   I took a clean hankie, opened it up and dabbed the wet globule away.   Job done.  Perfect. 
    Except... on closer inspection it left two small grease marks on the kings cheek.  Tiny marks, not too much larger than the eye of a needle.  Only visible at certain angles.  Leave it alone I thought.  You're playing with fire.  Screw up the capsule and forget about it.
    But no!  I was a fool twice.  I took the hanky, bunched it up to a fine point and tried to brush the marks away.  Big problem.  Now the marks have spread all over the king's cheek.  Disaster.
    I rushed to Google.  Alcohol?  Hand sanitiser?  Soapy water?  I went for soapy water.  Put on gloves and dipped it in water with a spot of fairy.
    OMEGA LEVEL DISASTER...
    Now the grease marks have cleared to reveal a horde of micro scratches obviously caused by my wiping.  What's more I pad the coin dry and now there are water spots on it and it it's attracting great heaps of dust from the air.  Each pad of the towel just makes it worse and worse.  The formerly beatiful obverse is now misty and spotted. 
    Fine.  I give up.   Lesson learned.  Don't buy any more proofs... I'm not cut out for the world of proofs.
    Anyway, at least I have a goofy story.
     
  18. Like
    KDave got a reaction from stefffana in Will we see a boom in precious metals with the potential future roll out of UBI?   
    I am always in two minds about UBI, previously I would have been with Roy on the issue, but I see how benefits work and if UBI replaces them (I assume that is the intention) then I am all for it. Benefits already keeps my BATS shares paying divis and keeps the off-licence in business, UBI won't make a difference on that front. But it will make things fair, and I am all about that.
    I have watched my cousin live a life on the tax payer, handed a living for nearly two decades now for doing nothing. Perhaps half a million in sterling by now if not more. One example of millions. While those that work, pay taxes used to fund this waste and often have a lower quality of life due to not having time. Work you give up time for money. Benefits you give up nothing and get money. Seeing others who have made selfish or wrong choices rewarded with time and money, while I must give up my time, it is a killer. It has destroyed altruism and compassion. 
    UBI is a lot more Just than the current system, if it replaces the current system. Everyone gets UBI. Now the worker has UBI plus the wage and is better off for trading his time for money. Work is encouraged and rewarded. Natural order is restored. People who used to cheat and play the system, made a career out of it can no longer do so. I assume the state pension will be paid to everyone now as well, no doubt it will.  
    My major problem with UBI is the government. They will use it as a control mechanism. If you say things against xyz no UBI for you. If you don't vote, no UBI for you. If you do stuff they don't like, attend the wrong meeting, talk to the wrong forum member, no UBI for you. It will usher in Social Credit ala Communist China. Its another step on the totalitarian road - but to be honest we are already at the point of no return. Lets keep going. Its pointless arguing against benefits, I am in the minority on this, most think I am heartless when I discuss social security with them, so instead I will say lets have UBI. Bring it on. If we must have tax payer charity then lets have it in the most Just and fair way possible. It will not end well in either case.
  19. Like
    KDave got a reaction from Arganto in Will we see a boom in precious metals with the potential future roll out of UBI?   
    I am always in two minds about UBI, previously I would have been with Roy on the issue, but I see how benefits work and if UBI replaces them (I assume that is the intention) then I am all for it. Benefits already keeps my BATS shares paying divis and keeps the off-licence in business, UBI won't make a difference on that front. But it will make things fair, and I am all about that.
    I have watched my cousin live a life on the tax payer, handed a living for nearly two decades now for doing nothing. Perhaps half a million in sterling by now if not more. One example of millions. While those that work, pay taxes used to fund this waste and often have a lower quality of life due to not having time. Work you give up time for money. Benefits you give up nothing and get money. Seeing others who have made selfish or wrong choices rewarded with time and money, while I must give up my time, it is a killer. It has destroyed altruism and compassion. 
    UBI is a lot more Just than the current system, if it replaces the current system. Everyone gets UBI. Now the worker has UBI plus the wage and is better off for trading his time for money. Work is encouraged and rewarded. Natural order is restored. People who used to cheat and play the system, made a career out of it can no longer do so. I assume the state pension will be paid to everyone now as well, no doubt it will.  
    My major problem with UBI is the government. They will use it as a control mechanism. If you say things against xyz no UBI for you. If you don't vote, no UBI for you. If you do stuff they don't like, attend the wrong meeting, talk to the wrong forum member, no UBI for you. It will usher in Social Credit ala Communist China. Its another step on the totalitarian road - but to be honest we are already at the point of no return. Lets keep going. Its pointless arguing against benefits, I am in the minority on this, most think I am heartless when I discuss social security with them, so instead I will say lets have UBI. Bring it on. If we must have tax payer charity then lets have it in the most Just and fair way possible. It will not end well in either case.
  20. Like
    KDave reacted to HawkHybrid in Remortgaging opportunity?   
    personally I think you could have gone for the 10 year fix at 2%.
    especially if you think rates will go up sooner rather than later.
    if in 10 years time rates reached 6% and you can get 3% interest from savings.
    what if I told you that you had the chance to borrow a significant sum at 2% and
    keep that sum in the bank for a guaranteed 3%(pocketing the difference risk free) ?
     
    HH
  21. Like
    KDave got a reaction from AuricGoldfinger in Remortgaging opportunity?   
    I bought the house in 2017, 20% deposit, 25 year mortgage with a 5 year fix with early repayment charges. To get access to the better rates I planned to overpay this mortgage to reach 40% LTV in time for the remortgaging process at the end of the 5 year fix, which is in 15 months time. Overpayments and house price increases has pushed the valuation well over 40% equity already and the option to remortgage at decent rates has opened up early. 
    Barclays have a 7 year fix, 1.49%, 40% LTV required. Fixing on that product I avoid any interest rate rises along the way to 2028, which is the main reason for doing it. The cost of this mortgage is so low that even with the early repayment charges I will be a few thousand better off at the end of the fix, so it makes sense to move now. 
    I would take out a 20 year mortgage fixed for 7 years, then either get it overpaid as much as possible or save/invest the difference. When we come out the other side of the fix mortgage rates can be 10%+ and it won't matter.  
    The alternative is to wait 15 months and potentially save the ERC on the existing mortgage which would save some more money, so long as rates don't move higher in the next 15 months. If house prices keep moving higher perhaps I can get a better deal if I can reach 50 or 60% equity in that time, but personally I don't see any of that happening. I expect the base rate to be higher by year end I would be very surprised if it isn't given inflation numbers. I also have my suspicions as to whether this 7 year fix or those like it with such low rates will be available from the banks this time next year. Equity today may not be as high as equity next year, it could fall just as quickly. 
    I think I have already decided but what do we reckon.
  22. Like
    KDave got a reaction from MancunianStacker in Remortgaging opportunity?   
    Looking at price inflation, CPI for April 1.5% up from 0.7% in March, commodity prices all up, some 2-4 bagged YoY, houses +10% and used car +30%; people are already spending. It takes a while for inflation in commodities to filter through but we are seeing some of that now as expected. The consumer will be hardest hit by this, less money to service debt and standard of living destruction. It will get worse as rates rise to follow inflation and make it look like CB's have it under control, but they are not in control. Inflation is out of the bag now, there is no catching it no matter what they do the cycle will just have to run its course. QE 2020 is not QE 2008.
    Interesting point on negative rates, in a deflationary scenario it makes sense but when inflation is running hot it would add fuel to the fire, who knows perhaps they want to hyperinflate but I doubt it, not in their interest. More likely they will allow inflation to run and follow it up with rates, the FED said as much last year, people thought it was a bluff but its the only way out other than collapse scenario. Perhaps you are right and end of the year is too soon, keep an eye on CPI for May.
  23. Like
    KDave got a reaction from MancunianStacker in Remortgaging opportunity?   
    There will be a base rate rise before year end. How this will effect mortgage rates, probably not much. Will these deals be around then, who knows, as said it's a guessing game on the details, house prices probably won't come down for a while. As I said last year, house prices will likely not move much in nominal terms when things get going, but in real terms they will fall a lot. 
    I have sorted my 7 year fix with Barclays, can't see it going wrong at 1.49 percent. No more overpayments now, if I can't get a better than sub 1 percent return from savings that would have been used to overpay, then I'm doing it wrong and deserve to be poorer for it. 
  24. Like
    KDave got a reaction from Roy in Remortgaging opportunity?   
    There will be a base rate rise before year end. How this will effect mortgage rates, probably not much. Will these deals be around then, who knows, as said it's a guessing game on the details, house prices probably won't come down for a while. As I said last year, house prices will likely not move much in nominal terms when things get going, but in real terms they will fall a lot. 
    I have sorted my 7 year fix with Barclays, can't see it going wrong at 1.49 percent. No more overpayments now, if I can't get a better than sub 1 percent return from savings that would have been used to overpay, then I'm doing it wrong and deserve to be poorer for it. 
  25. Like
    KDave got a reaction from GoldDiggerDave in Will we see a boom in precious metals with the potential future roll out of UBI?   
    The replies to this thread have been interesting and as predicted. Most want charity to exist and for the state to provide it, which means for the tax payer to provide it. 
    This has solidified my view that ubi is the preferred move forward, regardless of the dangers. Ubi will replace state benefits eventually and roll into the state pension. Give it a couple of years, higher interest rates will force government to make cuts and ubi will be the last to go for politicians, but benefits will be far easier to cut them, followed by pensions. Reap what you sow chaps. 
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