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Silver price about to plummet


Wonger

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I buy silver coins because i like looking at them holding them and generally like opening my safe and thinking that looks good. i dont have a out strategy. just buy when i see what i feel is a bargin or silver price is low.

When i die kids will open safe and think how much can we get for that they wont have any idea what i paid so when they sell it will be a brucey bonus nothing else they wont care weather silver and gold at all time high or low 

We all stack for different reasons 

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1 hour ago, silversky said:

A further point to add is that the European market for investment silver was essentially killed with the addition of VAT.  Larger players obviously still buy and sell using vehicles outside of Europe and so are not effected.  However, the smaller retail players were knocked out of the game with only a few avenues left for reduced VAT silver available on dealers profits etc.  This has generated a culture whereby silver has quite possibly been permanently severed from European minds as a source of investment/saving.

You can buy vaulted silver - trading such silver is VAT free unless you take delivery. You could trade digital silver backed currency - like the KAG or KWS Kinesis coins when they kick off - you get the move and no VAT unless you take delivery.

Always cast your vote - Spoil your ballot slip. Put 'Spoilt Ballot - I do not consent.' These votes are counted. If you do not do this you are consenting to the tyranny. None of them are fit for purpose. 
A tyranny relies on propaganda and force. Once the propaganda fails all that's left is force.

COVID-19 is a cover story for the collapsing economy. Green Energy isn't Green and it isn't Renewable.

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5 minutes ago, sixgun said:

You can buy vaulted silver - trading such silver is VAT free unless you take delivery. You could trade digital silver backed currency - like the KAG or KWS Kinesis coins when they kick off - you get the move and no VAT unless you take delivery.

Indeed.  Call me old fashioned but you still have the same old conundrum that if you don't hold it you don't own it.  Years ago I was fortunate enough to take physical delivery of the very small amount of vaulted silver that I owned.  A month later they ceased trading and everyone else was told that their physical never even existed.  Ouch.  That lesson has remained with me and I will likely never buy any form of PM other than physical.

New profile pic to support the current thing, because it's current year.

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1 minute ago, silversky said:

Indeed.  Call me old fashioned but you still have the same old conundrum that if you don't hold it you don't own it.  Years ago I was fortunate enough to take physical delivery of the very small amount of vaulted silver that I owned.  A month later they ceased trading and everyone else was told that their physical never even existed.  Ouch.  That lesson has remained with me and I will likely never buy any form of PM other than physical.

Move to Guernsey - there's no VAT.

Always cast your vote - Spoil your ballot slip. Put 'Spoilt Ballot - I do not consent.' These votes are counted. If you do not do this you are consenting to the tyranny. None of them are fit for purpose. 
A tyranny relies on propaganda and force. Once the propaganda fails all that's left is force.

COVID-19 is a cover story for the collapsing economy. Green Energy isn't Green and it isn't Renewable.

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2 hours ago, Wonger said:

The Chinese are owned by the Rothschild, same as Russia, they do what they are told.

Why do you believe Russia is owned by the Rothschilds?

Always cast your vote - Spoil your ballot slip. Put 'Spoilt Ballot - I do not consent.' These votes are counted. If you do not do this you are consenting to the tyranny. None of them are fit for purpose. 
A tyranny relies on propaganda and force. Once the propaganda fails all that's left is force.

COVID-19 is a cover story for the collapsing economy. Green Energy isn't Green and it isn't Renewable.

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Bogeyman for the MIC same as Iran, every war is a Rothschild war, there is a reason Russia has let Israel fire 2000 missiles into Syria and not used the S400, Putin is under orders from above to not stop the fall of Damascus, its coming along with war with Iran, i think you know all this stuff already, Rothschild Central Bank, they control the whole world and the Neocons are mere foot soldiers 🤐     

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21225796_xaugbp260219.thumb.png.0aaedf83287096154704d3a6bdc50f7b.png

 

Here's a quick chart I threw together of my thoughts on Gold/GBP. Current price £1011. 

Descending wedge is really more of a triangle, but you get my point. "Retest of resistance" should read "resistance turned support".

Thoughts are on the chart, just my opinion, but there are too many fat juicy short stops just sitting above this level ripe for the picking, a rapid rise could be on the cards...or it could just dirty the bed and collapse through 900.  However it plays out, I'm still stacking, 3rd year now, but the recent price action since Nov/Dec made me hurry up a bit with my purchases.

 

 

 

 

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Im Long GBP and short Gold, the futures positing on the GBP is extremely bullish, it will rocket when Brexit is cancelled, its up 750 pips already, 1.50 will come very quick and Gold for the UK stackers will be alot cheaper if your looking to add. 😀 

Capture.PNG

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13 hours ago, silversky said:

Indeed.  Call me old fashioned but you still have the same old conundrum that if you don't hold it you don't own it.  Years ago I was fortunate enough to take physical delivery of the very small amount of vaulted silver that I owned.  A month later they ceased trading and everyone else was told that their physical never even existed.  Ouch.  That lesson has remained with me and I will likely never buy any form of PM other than physical.

I thought that was a hypothetical I didn't realise it had occurred in the past. My understanding is if you buy vaulted gold you own it and it will be returned to you if the company goes under. No doubt at extremely high delivery cost. If you don't hold it you don't own it is true, buying vaulted gold is similar to depositing gold for currency in the past, you only held a claim on the wealth which was worthless after a bank run. 

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1 hour ago, Wonger said:

Im Long GBP and short Gold, the futures positing on the GBP is extremely bullish, it will rocket when Brexit is cancelled, its up 750 pips already, 1.50 will come very quick and Gold for the UK stackers will be alot cheaper if your looking to add. 😀 

 

 

The population voted for Brexit.

If Brexit, as you think will be cancelled, Gold in £'s will rise faster than you can say "Why is everyone rioting, attacking politicians, burning government buildings and Council offices?"

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13 hours ago, Wonger said:

Bogeyman for the MIC same as Iran, every war is a Rothschild war, there is a reason Russia has let Israel fire 2000 missiles into Syria and not used the S400, Putin is under orders from above to not stop the fall of Damascus, its coming along with war with Iran, i think you know all this stuff already, Rothschild Central Bank, they control the whole world and the Neocons are mere foot soldiers 🤐     

 

12 hours ago, Wonger said:

Neocon NSA laccys appearing on this thread in defence of Israel 3.2.1......... 

 

uh oh, crackpot alert..

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20 minutes ago, KDave said:

If Brexit is cancelled then likely so is the rule of law and legitimacy of anyone in power at the behest of any previous democratic votes. Likely GBP won't be worth much then. 

What rule of law and legitimacy of anyone in power are you referring to exactly?

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1 hour ago, RichRock said:

 

The population voted for Brexit.

If Brexit, as you think will be cancelled, Gold in £'s will rise faster than you can say "Why is everyone rioting, attacking politicians, burning government buildings and Council offices?"

The futures positioning dictates what direction the pound goes not the public rioting and the public will only march in protest and then go home to watch dancing on ice, there is 470 million people under the direct control of corrupt Brussels, if you think for one moment this immense power will be given up by Europe fracturing, then you are ill advised, quite opposite Europe will grow bigger and anyone who voted for Brexit believing it could happen are very naive on these matters, but shorting the GBP from 1.50 to 1.25 and going long 1.25 for the ride back up has been very profitable for some traders. 😀  

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56 minutes ago, Wonger said:

Gbp inverted head and shoulders targets 1.4117 for next major leg up

 

Could be a tough N/L to break through on the inv. H&S in this 1.32-33 area.

Good luck with your GBP Longs and XAG XAU shorts.

I'm on the opposite side of you and remaining Long XAU/GBP.

Let's see where we are in a month or two, happy to be right or wrong. 

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RichRock, we actually just now touched the neckline at 1.3238 and pulled back 55 pips, looks to me that any pull back will be limited to the 1.3100 area and once through the neckline and based its off to the races, its about time the USD got a hammering from the GBP and EURO

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3 hours ago, KDave said:

I thought that was a hypothetical I didn't realise it had occurred in the past. My understanding is if you buy vaulted gold you own it and it will be returned to you if the company goes under. No doubt at extremely high delivery cost. If you don't hold it you don't own it is true, buying vaulted gold is similar to depositing gold for currency in the past, you only held a claim on the wealth which was worthless after a bank run. 

Even if the metal in a vault is there, one of the reasons to own precious metals is if in a financial crisis one has immediate access to an asset that can be bartered with. It's rather likely that if you were in a place like Argentina during their crisis or India when they recalled their currency you would be unable to access your vault due to withdraw regulations imposed at the 12th hour. Conversely, if you are hedging against inflation with no expectation of ever seeing the physical product, then there are better vehicles than paying for gold and ongoing fees for someone else to protect it (for most people).

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