Gold Monitoring Thread £ GBP only

[Guest]

2 minutes ago, Coverte said:

The suggestion you quote/reply to is too absurd to even warrant discussion;

there are so many entirely legal methods to minimise IHT which can be used, and such a lack of capable resource to challenge same.

The most important thing is have your advisors give your potential estate planning an annual health check to  ensure it's still compliant.

As it stands now one will have to pass stuff on any try staying alive for another 7 years. IHT really is the worst type of tax, one of the Whig inventions (and many other Whig philosophies morphed into today's disastrous progressivism), leaving much of our cultural heritage in the mercy of National Trust history rewriting.

[jultorsk]

Anyone who thinks setting a cap to what people can own is a bright idea has no notion of what makes us humans tick. Organized 'wealth distribution' by politicians leads to dictatorship.

Chilling to even contemplate the absurdity of it. As others have noted, this is the sort of rhetoric that leads to the slippery slope of maoist, naxalite and French Revolution style head-chopping parties. 

Edited January 9 by jultorsk
typo

[Gruff]

49 minutes ago, SeverinDigsSovereigns said:

Sounds like theft.

Worse still, centralised collectivist theft.

Still, place two countries on earth, one with this so called citizens' panel and one without. People simply flee from the former to the latter. The only way this crazy idea could be implemented is a concerted effort by all governments in the world, ie. internationalism, another idea championed by Marx an Co. This is why I never liked the idea that any country should be the one true world power (like US), because then a world government becomes more likely. 

A world government will inevitably lead to diluted voting rights, open borders, and hence communist dictatorship. This is because one safeguard of democracy and freedom, the boundary (as @silversky agrees), will be broken. Where's the citizens' panel when citizenship is no more?

 

40 minutes ago, Coverte said:

The suggestion you quote/reply to is too absurd to even warrant discussion;

there are so many entirely legal methods to minimise IHT which can be used, and such a lack of capable resource to challenge same.

The most important thing is have your advisors give your potential estate planning an annual health check to  ensure it's still compliant.

Please respond to this discussion on  the thread below. Otherwise we risk being put on a step for derailing this thread

 

[Bigmarc]

1 hour ago, Gruff said:

Please respond to this discussion on  the thread below. Otherwise we risk being put on a step for derailing this thread

But that means the discussion about the fair distribution of wealth is only available for those paying. 

Play the reff to his whistle that's what I say. 

[Gruff]

3 minutes ago, Bigmarc said:

But that means the discussion about the fair distribution of wealth is only available for those paying. 

Play the reff to his whistle that's what I say. 

I get that, but then you could always get a subscription.

nice uptick pre 1000 slam..

[HonestMoneyGoldSilver]

6 hours ago, SidS said:

In theory unfettered capitalism should be self regulating.

moved to 

 

Edited January 9 by HonestMoneyGoldSilver

[LemmyMcGregor]

32 minutes ago, HonestMoneyGoldSilver said:

moved to 

 

thanks.

[Chronos]

More Golden (and Black-Gold) Proof: The Dollar is Totally Screwed:

https://goldswitzerland.com/more-golden-and-black-gold-proof-the-dollar-is-totally-screwed/

[HonestMoneyGoldSilver]

33 minutes ago, LemmyMcGregor said:

thanks.

Apologies I guess capitalism has privilege that is undemocratic. You'll regret asking when you see how TL:DR it is 😂

Edited January 9 by HonestMoneyGoldSilver
See below

[HonestMoneyGoldSilver]

If you want to read that copy and paste from below but it doesn't have a lot to do with the current spot price of gold 

19 minutes ago, HonestMoneyGoldSilver said:

Apologies I guess capitalism has privilege that is undemocratic. You'll regret asking when you see how TL:DR it is 😂

 

Neoliberal capitalism (our current brand) has no moral compass. It is just numbers. If the numbers say it's profitable then it's "morally just" to proceed, regardless of whether or not the initiatives could be described as moral by a free-thinking individual.

Example: Water utilities in the UK. Under neoliberal capitalism, the thing we are doing, it's fine to sell these assets to foreign governments, to create a self-regulating system that doesn't actually self-regulate. We can't sue foreign governments or the water companies as we didn't keep any records of the pollutants in our water system before, during or after their tenure, a deliberate move of course. That gave the water companies the opportunity to release raw sewage into our oceans and waterways and to provide us with substandard quality of water from our taps. The water companies extracted all the value they could from our natural resources and infrastructure then left us with a steaming pile of excrement that will most likely result in nationalisation, with the taxpayer taking on the unsustainable debts accrued by the utilities. The shareholders have taken the money and ridden off into the sunset.

An example of true "self-regulation" is the financial system from 1999-2008. People find this hard to believe but the banks self-regulated the OTC derivative market under a voluntary framework created by the banks and run on indices over which they had total monopoly. Previously, oversight of these markets fell under the purview of the CFTC in the USA. The CFMA 2000 (Commodities, Futures, Modernization Act) took this legal oversight away from the CFTC and handed it to the banks. The GLB 99 (aka "The Citigroup Act") removed the barriers to universal banks, allowing Citibank to purchase Travellers'. We then had universal banks (insurance, investment banking, commercial and retail banking under one roof) that were literally writing their own laws and became too big to fail. When they got into trouble the taxpayers around the world bailed them out via the Implied Government Guarantee

Capitalism is not democratic at all. If you want to test that theory, play a few games of Monopoly - the game was created to show the natural conclusion of neoliberal capitalist policies - one entity or cabal ends up owning everything and new entrants to the game face a rigged system that makes it impossible for them to win or climb the social ladder. Capitalism is fundamentally undemocratic. It is a system of numbers that reward those with capital and punish those without. In a fair system it would be possible for those without capital to gain capital and participate in the capitalist system (a proxy for this is the Gini Coefficient). For the majority of the population that is no longer an option. If you do the maths you can show that young people, those on low paid jobs who are renting, and those who don't have a family support structure, are likely to never own property. They will pay rent forever, or, if they happen to be frugal and work hard, perhaps they can continue paying a mortgage until the day they die and pass on this debt to their beneficiaries. That is not democracy, that is rent-seeking and wage slavery, both of which are encouraged and supported by neoliberal capitalism

I say things like the above and people will accuse me of being a communist or wanting to take from the rich. No. Some of you will know I'm a fan of Churchill:

"The inherent vice of capitalism is the unequal sharing of blessings; the inherent virtue of socialism is the equal sharing of miseries ..... capitalism is the worst economic system, except for all the others"

That is how we should view capitalism - it is the worst system, except for all the others

The answer to fixing capitalism is simple and obvious - we make it democratic. We can make capitalism a democratic system by giving shareholder ownership, profit sharing and voting rights to every citizen in the companies and organisations that are of critical importance to our economy. Other nations, like Norway (Ireland also has plans), have sovereign wealth funds which own both domestic and foreign assets. This is the same system we should have except not with a classic top-down power structure like in Norway. We the shareholders vote on issues that matter to us, we decide what companies we buy and which ones we sell. We shape our economy and our country in our image with democratic values, not the morally vacuous system of neoliberal capitalism. The UK had every opportunity to not just match Norway but surpass Norway by orders of magnitude. Our policies, however, have left the limited liability shareholders as kings while the citizens and taxpayers hold the bag for the unlimited liabilities created by these industries over decades and centuries. I didn't vote for that. I didn't vote to be poor, live in filth and have no hope for the future. The undemocratic dictators hiding behind the guise of capitalism voted for that on our behalf

 

[ZRPMs]

5 minutes ago, HonestMoneyGoldSilver said:

If you want to read that copy and paste from below but it doesn't have a lot to do with the current spot price of gold 

Thought I'd best add a picture  Whooooo. Not been on the Gold price thread for a bit. It's changed a little. Anyway, got a new book for the journey to the moon   

Gold still around the £1600 ish

[HonestMoneyGoldSilver]

21 minutes ago, ZRPMs said:

Thought I'd best add a picture  Whooooo. Not been on the Gold price thread for a bit. It's changed a little. Anyway, got a new book for the journey to the moon   

Gold still around the £1600 ish

Marxism and queer liberation, you know me too well 😂

[HonestMoneyGoldSilver]

 

 

 

 

 

 

Gold is up 0.29%

[ZRPMs]

8 minutes ago, HonestMoneyGoldSilver said:

 

 

 

 

 

 

Gold is up 0.29%

There, don't you feel better.  I've had a new colouring sheet for Christmas. I'm just like L S Lowry.

Any feeling for the direction of gold this year. A few I've spoken to in the creche suggest a good year for gold.

[HonestMoneyGoldSilver]

15 minutes ago, ZRPMs said:

Any feeling for the direction of gold this year. 

From the forum and into my collection 😁

[Bigmarc]

3 hours ago, Gruff said:

but then you could always get a subscription

Na, not for me, too many doom scrollers for my liking. Quite happy lurking around the metals section. 

[Coverte]

1 hour ago, Chronos said:

More Golden (and Black-Gold) Proof: The Dollar is Totally Screwed:

https://goldswitzerland.com/more-golden-and-black-gold-proof-the-dollar-is-totally-screwed/

The real kicker will be when the US have to reduce interest rates; that may not be until sometime in the 2nd quarter I imagine;

but it will certainly have a knock on effect on gold, albeit with the usual delay.

[Petra]

To the moon? About as likely as the Astrobotics launch today reaching the moon🤔🤔😮

[JohnA1]

43 minutes ago, Coverte said:

The real kicker will be when the US have to reduce interest rates; that may not be until sometime in the 2nd quarter I imagine;

but it will certainly have a knock on effect on gold, albeit with the usual delay.

The 50-year delay?

I'm not convinced that the so-called interest rates and gold 'price' are even linked.

Interest rates set by central banks, are not always the ones the market is comfortable with. Plus they are set by the same interests that try to convince everyone that gold is just a rock and money is  only what they issue.

Yes, all the interweb commentators agree to such a link, but they are trying to get paid in one way or another. They are not sitting comfortable on their own Pacific island having proven they know what's going on - instead they beg you to ring that bell for pennies from youtube

 

We need to zoom out and ignore the noise

[MrStacker]

In all honesty I'm happy it's below 1600 but the next big jump will occur later in the year.

 

 

 

 

 

Only problem is...

 

 

 

 

 

Edited January 9 by MrStacker

[Coverte]

16 hours ago, JohnA1 said:

The 50-year delay?

I'm not convinced that the so-called interest rates and gold 'price' are even linked.

Interest rates set by central banks, are not always the ones the market is comfortable with. Plus they are set by the same interests that try to convince everyone that gold is just a rock and money is  only what they issue.

Yes, all the interweb commentators agree to such a link, but they are trying to get paid in one way or another. They are not sitting comfortable on their own Pacific island having proven they know what's going on - instead they beg you to ring that bell for pennies from youtube

 

We need to zoom out and ignore the noise

ATM there are several trillion $ held by individuals, family offices and funds with the ~ 5% yield on short term bonds, they're all awaiting equity market falls in a variety of overpriced stocks in an overpriced market.

Even Apple are having to support their share price by share buy backs the last 2 years; the 'magnificent 7 are all likely to drop, Intel too already are.

So once the interest rate drops alongside the market confidence potentially flailing further, as it's now starting to, that money will be re-deployed as interest rates fall.

The bulk of wealthy individuals and family offices usually hold 5 - 10% in gold as insurance/wealth preservation;

so once that re-deployment of capital comes out of bonds and into other asset classes as rates fall, gold may well be also likely to benefit IMO, it has done before in similar historical circumstances.

[LemmyMcGregor]

1 hour ago, Coverte said:

ATM there are several trillion $ held by individuals, family offices and funds with the ~ 5% yield on short term bonds, they're all awaiting equity market falls in a variety of overpriced stocks in an overpriced market.

Even Apple are having to support their share price by share buy backs the last 2 years; the 'magnificent 7 are all likely to drop, Intel too already are.

So once the interest rate drops alongside the market confidence potentially flailing further, as it's now starting to, that money will be re-deployed as interest rates fall.

The bulk of wealthy individuals and family offices usually hold 5 - 10% in gold as insurance/wealth preservation;

so once that re-deployment of capital comes out of bonds and into other asset classes as rates fall, gold may well be also likely to benefit IMO, it has done before in similar historical circumstances.

Last year I posted an article that was discussing just this, they were saying that the stock market is still looking green by virtue of the top 7 pushing up, remove them and the market is falling hard. If anything, is my understanding that they are making things worse as people as selling everything else to focus on them. At some point everything will have to drop, and whoever has the money will be able to scoop it all for pocket change.

[Chronos]

US Warship Directly Targeted In 'Largest Ever' Houthi Red Sea Missile Attack:

https://www.zerohedge.com/geopolitical/us-warship-directly-targeted-large-scale-houthi-missile-drone-attack

[Gruff]

47 minutes ago, Chronos said:

US Warship Directly Targeted In 'Largest Ever' Houthi Red Sea Missile Attack:

https://www.zerohedge.com/geopolitical/us-warship-directly-targeted-large-scale-houthi-missile-drone-attack

False flag? Gulf of Tonkin style, therefor drawing the US directly into the conflict igniting WW3?

[Chronos]

47 minutes ago, Gruff said:

False flag? Gulf of Tonkin style, therefor drawing the US directly into the conflict igniting WW3?

For a successful false flag a ship would have to be sunk in an attack.

Edited January 10 by Chronos