Gold Monitoring Thread £ GBP only

[Petra]

1 minute ago, Agaupl said:

I heard they just need to irradiate or destroy the gold in Fort Knox and  it’d make the rest of the worlds gold much more valuable. There’s a feature length documentary on it. Pretty good. 

Would that be easier than doing that to the Chinese or Russian gold … or don’t you know where that is?🤔🤔😮😁

[Agaupl]

1 minute ago, Petra said:

Would that be easier than doing that to the Chinese or Russian gold … or don’t you know where that is?🤔🤔😮😁

Yeah don’t know where that is. Plus not as entertaining 

[Bratnia]

2 minutes ago, Gruff said:

You saying you trust Janet Yellen and the other fraudsters? 
It's a big club, they are looked after to keep the fraud going. 

Look at what happened when Germany ask for their gold to be repatriated a few years ago. They were told that it would take up to 7 years to get it back.
When they got their first shipment back, the serial numbers didn't match what Germany had on their inventory lists

And some say the president is a alien and suggest they can prove it (or whatever). Even if true - its better to perpetuate stability than the alternative (pretty much assured extinction of mankind). If the US (and/or UK) were to return gold, disperse it then the tendency would be towards instability/wars. Better for those countries that spend more than they earn to rack up paper debt, than to run out of gold and resort to escalating warfare.

[Darr3nG]

5 minutes ago, Agaupl said:

There’s a feature length documentary on it. Pretty good. 

[Agaupl]

Just now, Darr3nG said:

Ah you know it? 🤣

[treetop1280]

7 minutes ago, Agaupl said:

I heard they just need to irradiate or destroy the gold in Fort Knox and  it’d make the rest of the worlds gold much more valuable. There’s a feature length documentary on it. Pretty good. 

Any ideas what the documentary is , thanks Ashley 

[Agaupl]

Just now, treetop1280 said:

Any ideas what the documentary is , thanks Ashley 

Gold eneye I think. 

[treetop1280]

Saw one on you tube  with Idris Elba seemed more like a sales pitch , ???

[Agaupl]

2 minutes ago, treetop1280 said:

Saw one on you tube  with Idris Elba seemed more like a sales pitch , ???

Na this one is much better… it’s got Pussy Galour in it. 

[Bratnia]

3 hours ago, Paul said:

Debt is money. Without which you'd have to barter. The state prints money, taxes it as it passes around (one persons wage is sourced from another persons spending), until it full circles back around again, where the state re-deploys it, perhaps adding more or reducing the amount of money in circulation. In pre fiat, when on the gold standard (British Empire) days, broadly there was no inflation, just periods of spikes in high inflation and then deflation back down again, broadly 0% overall inflation. A issue there is that in gold being finite when a country is enduring difficulties, spending more than it earns, then cheats have to be performed. King Henry VIII for instance mixed inexpensive metals into coins (debased the currency). With paper money, backed by gold in a non 1:1 ratio, you can direct paper money to remain within a channel relative to gold, and if the need arises 'reset' the ratio to a higher price level. Under that arrangement and gold will tend to trade sideways within a channel, inter-spaced with periodic step-up's.

Imagine a island of 100 people and 100 ounces of gold, where the population over time doubles. Do you let the average wealth halve down to half a ounce of gold? No, its better to have money where the price of gold doubles. £100 of paper money and 100 ounces of gold (£1 per ounce of gold, £1/person average wealth), seeing a transition to £200 of paper money and £2 per ounce price of gold (average wealth still £1/person).

Take that monetary system away and it wouldn't be a happier/better place to live, quite the opposite. Trading is more difficult without a common unit of value/exchange, wars are more likely when a country has spent all of its gold etc.

[Chronos]

38 minutes ago, Gruff said:

You saying you trust Janet Yellen and the other fraudsters? 
It's a big club, they are looked after to keep the fraud going. 

Look at what happened when Germany ask for their gold to be repatriated a few years ago. They were told that it would take up to 7 years to get it back.
When they got their first shipment back, the serial numbers didn't match what Germany had on their inventory lists

Had there been any gold in Fort Knox, the American would made sure you never forget it. They would boast about it repeateadly.

Instead, what are you getting?

A wall of silence.

You can hear only crickets.

US government lost seven Fort Knox gold audit reports:

https://www.mining.com/web/us-government-lost-seven-fort-knox-gold-audit-reports/

 

Edited April 7 by Chronos

[Bratnia]

16 hours ago, SidS said:

I don't know about Fort Knox, but I know most people have more gold than Canada.

Canada stores many millions of tons of gold ... in the ground. Could dig it up and lock it away in a fortress, surrounded by guards etc. but decided that natural security was the easier/better choice.

[Gruff]

44 minutes ago, Bratnia said:

And some say the president is a alien and suggest they can prove it (or whatever). Even if true - its better to perpetuate stability than the alternative (pretty much assured extinction of mankind). If the US (and/or UK) were to return gold, disperse it then the tendency would be towards instability/wars. Better for those countries that spend more than they earn to rack up paper debt, than to run out of gold and resort to escalating warfare.

So you're happy to be consigned to serfdom? I'm not, why should a small handful of degenerates rule over us with impunity? 

[SidS]

6 minutes ago, Bratnia said:

Canada stores many millions of tons of gold ... in the ground. Could dig it up and lock it away in a fortress, surrounded by guards etc. but decided that natural security was the easier/better choice.

I was referring to vaulted reserves... not gold ores.

[Bratnia]

19 minutes ago, Chronos said:

Had there been any gold in Fort Knox, the American would made sure you never forget it. They would boast about it repeateadly.

Instead, what are you getting?

A wall of silence.

You can hear only crickets.

US government lost seven Fort Knox gold audit reports:

https://www.mining.com/web/us-government-lost-seven-fort-knox-gold-audit-reports/

 

The linked article indicates that over the years 100% of the gold has been audited and sealed. So simply checking the seals remain intact is enough, rather than having to go all through the full assay/audit process repeatedly. That some reports from 50+ years ago paper record days are lost isn't really a surprise.

[PapaLazarou]

[Bratnia]

3 minutes ago, Gruff said:

So you're happy to be consigned to serfdom? I'm not, why should a small handful of degenerates rule over us with impunity? 

If not one, it would be another. States are just the biggest/strongest gangs in town, each still tends to profit from vices such as drugs (alcohol/cigarette taxes), gambling (horse racing/sports betting taxes) etc., and have their heavies (police/army) to impose their will and defend their patch. Depending upon your preferences there's always the option to move to be under another gang culture, some for instance like to throw certain groups of people off building roof tops etc.

[Bratnia]

5 hours ago, Paul said:

Modern day slavery is not the financial system but rather takes the form of being given little enough paper money to self sustain ones own clothing, feeding, sheltering. The minimum wage typically has to be topped up by the state (taxpayers) as alone the 'wages' paid are too low to cover basic living expenses, is lower than what the companies would spend on sheltering/feeding/clothing their slaves directly.

[Bratnia]

1 hour ago, SidS said:

I was referring to vaulted reserves... not gold ores.

The Bank of England has 5000 tonnes of gold within its vaults. 400,000 bars, each of average 400 troy ounces weight (within 350 to 430 ounces permitted limits). From the days of when it was the primary international trade settlement centre of excellence (law, accounting, finance) and when bars were physically moved between separate country cages as part of international trade settlements rather than in paper US dollars (electronic form).

As with the US it resists repatriation of that gold as that directs towards conflicts. As there's 120 times more global paper gold than physical gold any rush to transition all paper gold to physical in-hand gold would inevitably lead to conflicts. Whilst you might consider that as a potentially good thing, would be inclined to see your own physical in-hand gold soar in price, the realities would more likely see that being blocked by law - prohibited from being held, bought, sold, exported etc.

Edited April 7 by Bratnia

[theman73]

26 minutes ago, Bratnia said:

Modern day slavery is not the financial system but rather takes the form of being given little enough paper money to self sustain ones own clothing, feeding, sheltering. The minimum wage typically has to be topped up by the state (taxpayers) as alone the 'wages' paid are too low to cover basic living expenses, is lower than what the companies would spend on sheltering/feeding/clothing their slaves directly.

''A single person needs to earn £29,500 a year to reach a minimum acceptable standard of living in 2023. A couple with two children need to earn £50,000 between them.''

''According to the Households Below Average Income (HBAI) report, approximately 19.2 million people in the UK, which is about 29% of the population, are living in households with incomes below the minimum standard of £29,500 per year''

Percentile Data:

The 10th percentile of earners in the UK has an annual salary of £18,000.

The 25th percentile (also known as the lower quartile) earns around £24,000.

The 50th percentile (median) salary stands at £34,963.

Nearly half of the UK workers are on minimum wage or nearly minimum wage.

Edited April 7 by theman73

[Paul]

2 hours ago, Darr3nG said:

Nutty Professor 2: The Klumps  ?? 

Edited April 7 by Paul

[Bratnia]

28 minutes ago, theman73 said:

''A single person needs to earn £29,500 a year to reach a minimum acceptable standard of living in 2023. A couple with two children need to earn £50,000 between them.''

''According to the Households Below Average Income (HBAI) report, approximately 19.2 million people in the UK, which is about 29% of the population, are living in households with incomes below the minimum standard of £29,500 per year''

Percentile Data:

The 10th percentile of earners in the UK has an annual salary of £18,000.

The 25th percentile (also known as the lower quartile) earns around £24,000.

The 50th percentile (median) salary stands at £34,963.

Nearly half of the UK workers are on minimum wage or nearly minimum wage.

Would have though that would be net (take home) rather than gross figures (quick back of napkin) ...

300K average house price x 4% rental yield = 12K year for accommodation

2K/year council tax, 3K energy costs, 1K/year water/waste, 5K/year travel costs, 6K/year food

29K/year (requiring around a £36K/year gross pay/wage).

For a couple + children, similar rental/accommodation, council tax, water and energy costs, more in food/other costs, so 50K/year seems about right.

Ways to direct towards improvements ...

Block anyone who isn't at least third generation British from any political or public office position - that might otherwise be more inclined to favour other countries (such as the movement of gold out of the UK).

Promote the expansion of the 1% that pay a third of the tax take (rather than pushing them away to leave the rest having to pay 50% more in taxes). Expanded to 3% and lower/no taxes for 97% of the population.

Punitively penalise companies that employ foreign workers over training/developing our own population and where workers are paid a good wage where they can fund themselves/family rather than having to rely upon state top-ups. A low cost migrant that is prepared to tolerate poor conditions whilst working in the UK in order to return home relatively rich, whilst that leaves a Brit idle at home on benefits, is a mid/longer term liability.

Unfortunately there is no prospect of such policies, instead the major parties are all pushing in the complete opposite direction. 'More cosmopolitan', higher taxes and rules flip-flopping that drives away the 1%, encouragement of low wage migrant employment. Large scale migration of state and public office positions to where those with the wrong faith are having birth certificates/passports defaced by public servants, are being refused or provided biased medical treatment and/or ignored from allocation of housing etc.

[Happypanda88]

Some background information for those who still believe that there is gold in Fort Knox.

  1.   No audit has been performed at Fort Knox since 1950s. Some in the bullion industry have highlighted this and are highly sceptical that there is real stuff in the vault

  2.   Gold (400oz bars) shipped to Hong Kong, believed to have originated from the US were filled with tungsten. It was uncovered when assaying was performed and it broke the drill
 
Rob Kirby, one of my favourite market analyst who sadly passed away wrote about item #2 some years ago.

http://www.marketoracle.co.uk/Article14996.html

........ reports of 400 oz. “good delivery” bricks of gold found gutted and filled with tungsten within the confines of LBMA approved vaults in Hong Kong.

Why Tungsten?
If anyone were contemplating creating “fake” gold bars, tungsten [at roughly $10 per pound] would be the metal of choice since it has the exact same density as gold making a fake bar salted with tungsten indistinguishable from a solid gold bar by simply weighing it.

Unfortunately, there are now more sordid details to report. When the news of tungsten “salted” gold bars in Hong Kong first surfaced, many people who I am acquainted with automatically assumed that these bars were manufactured in China – because China is generally viewed as “the knock-off capital of the world”. 

Here’s what I now understand really happened:
The amount of “salted tungsten” gold bars in question was allegedly between 5,600 and 5,700 – 400 oz – good delivery bars [roughly 60 metric tonnes].  This was apparently all highly orchestrated by an extremely well financed criminal operation. Within mere hours of this scam being identified – Chinese officials had many of the perpetrators in custody.

And here’s what the Chinese allegedly uncovered:
Roughly 15 years ago – during the Clinton Administration [think Robert Rubin, Sir Alan Greenspan and Lawrence Summers] – between 1.3 and 1.5 million 400 oz tungsten blanks were allegedly manufactured by a very high-end, sophisticated refiner in the USA [more than 16 Thousand metric tonnes].  Subsequently, 640,000 of these tungsten blanks received their gold plating and WERE shipped to Ft. Knox and remain there to this day.  I know folks who have copies of the original shipping docs with dates and exact weights of “tungsten” bars shipped to Ft. Knox.

[Petra]

I think this is the wrong thread for all of these great theories .. you need to join people on the ever long lasting Covid thread you can then exchange theories until they all link together and  make you all happy.

Fort Knox 😮🤔 I once knew a man, who had been told that ……🤔😮😮👀👀👀

[dicker]

Asia opening.  Up or down?