GoldStandardPartyUK

16 hours ago, ProfessorStacker said:

I wish all of you in the UK and Australia had the same gun rights, and free speech as the US. It would go a long way to curb your governments from being less tyrannical, and arresting people for Facebook posts, and confiscating kitchen and yard tools.

I think you've eaten the onion there, those are culture war bullshit misinformation churnalism clickbait fakes. It's silly season. Did you ever notice how whenever the US has an election everyone loses their minds? Look at the dates on those two items and the fact they are from social media. It's these wedge issue misinformation churnalist articles spinning people into a frenzy whenever silly season comes. Everyone should get off social media, off culture war topics, and back to reality, and stack silver.

If I ran a hypothetical ETF of sea shells, I might have 2500 sea shells in my store, people withdraw a sea shell or two every now and again but mostly it just sits in my store. 

There are millions of sea shells on the sea shore but people look up the value of my ETF to determine the value of a sea shells around the world. That would make me pretty powerful. 

The exact formula I use to calculate the published price of sea shells would be really important, I could select the weighting my formula gives to the sea shell bid/ask prices vs the weight of prices on different futures markets (1 month, 3 month time horizon etc) in calculating the published price. 

The bit I don't understand is why after a while I don't actually need all 2500 sea shells, I could rent out the ones I have? Then bet against the price? That's the part I haven't figured out yet.

I suppose if too many people withdraw the sea shells from my store I just change rules to say only 1 shell per person.

Waiting list please. Thanks. 

20 hours ago, Neilcollier said:

I signed it 👍

Me too 

CoAs are a strange phenomenon in my opinion. Honestly I don't know why they are still a thing.

For bars a potential forger would find printing the CoA the easiest part of creating a fake. Coins have elaborate patterns specifically to prevent fakes. It's as if they are pretending the bar/coin was an antique chair with a letter of authenticity from an expert.

What might be better is all the receipts/invoices from all the owners, that would do a better job of authentication and would show chain of ownership. And would be more interesting.

23 hours ago, NomadicBacon said:

 Who wants me to post my answer when I get it? 

Yes please. 

On 23/02/2021 at 17:46, Paul said:

ill be out when it hits £50oz lol 

I thought this way but I've done some more thinking, for me it depends on what pushes it up to 50, whether the reason is sustainable like a demand spike or transient like a supply shock (#silversqueeze). Also I think it depends on what the other metals are doing, because when I sell my silver I'll be swapping into another metal. 

36 minutes ago, breaktwister said:

The CME futures shorts on silver are between 100-600 times the amount available for delivery.  

Great so all we need is to withdraw 1% of the comex stockpile? Lol if only you're right

What they did to GME is 54x so far. If this happened to my 420 oz of physical silver I'd be quite pleased 😌 

2 hours ago, breaktwister said:

 If enough people purchase physical silver directly from dealers and mints, or via ETFs (PHAG in the UK, PSLV elewhere) then the Comex can be drained quickly forcing bullion banks to close their shorts.  This is a huge deal and could see physical silvers shortages appear very quickly globally.

my instincts tell me the comex stock pile is too large for this to drain.

On 28/01/2021 at 14:21, Liam84 said:

If it does work (spot at £19.17 right now) and soars it likely won't stay there long, I wonder if it will directly affect the physical market enough to tempt people to cash in that physical silver? Time for a swap into gold maybe...🤣

 

this is the key question for me. I need help to understand this point. Is SLV and physical going to diverge? If the momentum traders and Reddit types do manage to drain the comex of the physical silver that backs the SLV ETF, then do we think the silver price would be raised along with it? Or do we think as SLV goes to the moon (GME is currently at 54x) the price of physical silver might only go 2x or 3x?

On 01/01/2021 at 19:12, HillWalkerDundee said:

I usually buy VAT free via physicalgold.com and we have been warned for months now that all purchases of silver from abroad will be subject to VAT. 

I have no doubt the VAT will be applied to gold "in order to bring taxes in line with silver". Then confiscated and the price revised upwards.

It's unlikely there would be a gold or silver confiscation. The reasons for a confiscation don't currently exist (which is to debase a monopoly gold backed currency). A confiscation occurs at the end of a period of gold backed currency which we don't have. Today the connection between USD and gold is very weak, they don't need to confiscate gold to debase the dollar. The only reason to confiscate is if a rival gold backed currency could start to compete, threatening tax collection. This is even more true of GBP which has even more separation from gold than USD.

What about this declaring my silver I already have as second hand? Are there any advantages for me to do that? 

Anyone have any suggestions where I can learn more about it? 

But actually possible? Maybe they could charge a service fee depending on the time it takes? 

Does nationality matter when bringing in silver from EU in 2021? I'm considering obtaining Latvian citizenship & passport (which I am entitled). I could then travel to Latvia and return to the UK holding on to my own private property across the border. 

The idea of them increasing VAT or implementing a tax on gold is a bit of a shock to me. My strategy for 2020 was to buy 100% silver britannias from Europeanmint to get them before the VAT. I had intended to switch to gold in 2021. But the news in this thread doesn't look good for my plans. 

On a side note : 

It's interesting to me the political comments in this thread mirror my own thinking. I wonder if people concerned with hard money gravitate to silver, or if it's people into silver favor hard money. Either way it's nice to find a community of like minded people 😁

44 minutes ago, Peterheat said:

Have you ordered off them or has anyone on here 

the price was right and after a quick google I couldn't find any evidence they were a scam so I've just put in an order for some scottsdale stackable silver . I have no idea what's going to come through the post I'll let you know