Gold Monitoring Thread £ GBP only

[SilverPirate007]

19 minutes ago, sixgun said:

As @Roy says it does not look like SilverPirate007 understands gold - but at least he/she knows to stack precious metal - so there is hope. 

I seem to understand it as well, if not better than 99% of the 'financial system is going to collapse' types on here. I know to include it in a diversified portfolio that also includes stocks, property and cash. I simply do not buy into the theory that the financial system and currency that it uses is about to 'collapse'. Each to their own though, I do appreciate other peoples opinion although they are sometimes curious.

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1 minute ago, zhoutonged said:

Yes last decade I was calling for a collapse of the US dollars reserve currency status this decade.

Haha, I thought so! So if not this decade, next decade?

[SilverPirate007]

1 minute ago, zhoutonged said:

No this decade LOL

So by 2029? 

FYI I just bought a 1/4 oz of gold with some silver

[sixgun]

 @SilverPirate007 - here we have a plastic £5 Bank of England note

This is a £5 note. It is not £5 - it is the promise of £5. It is a promissory note. It says on it 'I promise to pay the bearer on demand the sum of five pounds'
So to repeat, this is the promise of five pounds and cannot be £5. One would therefore ask what is this £5 the Bank of England is promising?
What is £5? If you go to the BoE and present the £5 promissory note demanding five pounds they will give you another £5 promissory note and if you say you have just given me another promise, now i demand those 5 pounds, then you will get escorted from the building.

So what is five pounds? - it is a sum of - so there isn't a five pounds there are presumably several pounds which add up to 5 pounds. Like 5 x £1.

So what is the one pound - £1? Well the currency is called Sterling and we know that is to do with silver. Is it 5 pounds of silver? Could be. i have supposed it is 5 gold sovereigns - these are £1 legal tender. Last time they were circulating in 1933 they were £1 legal tender. So there we have it the note is promising 5 sovereigns. 

Will you get those sovereigns? - you won't i bet. So the promise is a false promise - made with no intention of keeping it. That's fraud. The £5 note isn't worth £5 - it pretends to be worth that much - what is something that pretends to be money? Well that is counterfeit.

Edited March 4, 2020 by sixgun

[SilverPirate007]

5 minutes ago, sixgun said:

 @SilverPirate007 - here we have a plastic £5 Bank of England note

This is a £5 note. It is not £5 - it is the promise of £5. It is a promissory note. It says on it 'I promise to pay the bearer on demand the sum of five pounds'
So to repeat, this is the promise of five pounds and cannot be £5. One would therefore ask what is this £5 the Bank of England is promising?
What is £5? If you go to the BoE and present the £5 promissory note demanding five pounds they will give you another £5 promissory note and if you say you have just given me another promise, now i demand those 5 pounds, then you will get escorted from the building.

So what is five pounds? - it is a sum of - so there isn't a five pounds there are presumably several pounds which add up to 5 pounds. Like 5 x £1.

So what is the one pound - £1? Well the currency is called Sterling and we know that is to do with silver. Is it 5 pounds of silver? Could be. i have supposed it is 5 gold sovereigns - these are £1 legal tender. Last time they were circulating in 1933 they were £1 legal tender. So there we have it the note is promising 5 sovereigns. 

Will you get those sovereigns? - you won't i bet. So the promise is a false promise - made with no intention of keeping it. That's fraud. The £5 note isn't worth £5 - it pretends to be worth that much - what is that something that pretends to be money? Well that is counterfeit.

And? What is your point? lol

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7 minutes ago, zhoutonged said:

Yes by 2029 no doubt about it.

But what about the GSR

See above. I have no strong feeling as to the GSR. Although I managed to get an 80:1 ratio

Edited March 4, 2020 by SilverPirate007

[HawkHybrid]

34 minutes ago, zhoutonged said:

Ok well inflationary collapse which will speed up until it becomes non functioning which will be this decade and will come faster and harder than "anyone could have imagined"

 

Could you enlighten me as to why the GSR is no longer relevant? Its a bit of a bug bear for me, one of two LOL

 

currency inflation is a requirement as economies grow.

ie a $1 billion economy requires the printing of at least

$1 billion in currency in order for it to flow.

as such you cannot use inflation as a proof of a collapse.

 

the gsr is becoming increasingly less relevant as silver

becomes less able to replace gold.

 

HH

[SilverPirate007]

Just now, HawkHybrid said:

 

currency inflation is a requirement as economies grow.

ie a $1 billion economy requires the printing of at least

$1 billion in currency in order for it to flow.

as such you cannot use inflation as a proof of a collapse.

 

the gsr is becoming increasingly less relevant as silver

becomes less able to replace gold.

 

HH

Exactly, economics is not my specialist interest but Hawk put it in a far more elegant way.

[JunkBond]

9 minutes ago, HawkHybrid said:

 

currency inflation is a requirement as economies grow.

That is the problem, it's all grow, grow, grow and print, print, print.

Everbody is scared of some natural contraction to restore balance.

[SilverPirate007]

7 minutes ago, zhoutonged said:

Absolute nonsense rising prices are most certainly NOT a requirement for an economy to grow. If that were true then everyone would be moving to Zimbabwe and Venezuela.

Talk about being brainwashed.

He is not talking about hyperinflation, the countries you reference have pathological inflation levels.

[sixgun]

19 minutes ago, SilverPirate007 said:

And? What is your point? lol

The point is Lol, the issue of counterfeit was brought up by another member - the circulating fiat is counterfeit and fraudulent.

[HawkHybrid]

7 minutes ago, zhoutonged said:

Absolute nonsense rising prices are most certainly NOT a requirement for an economy to grow. If that were true then everyone would be moving to Zimbabwe and Venezuela.

Talk about being brainwashed.

 

the fact is for each $ of goods/services sold the

seller takes payment of $1. it is then within logic

that that $1 must have been printed for that

transaction to take place.

before the currency system we have now. gold or

silver coins must be minted for extra transactions

to take place. this is the same process of adding

more units into the pool. the only difference is that

the value is within the coin as opposed to the value

being within the nations tax system.

it still stands. within the currency system that we

are using it is inherent to create inflation to support

the flow of currency as the economy grows. therefore

you cannot use a trait such as this as valid proof of

a collapse.

 

HH

[HawkHybrid]

17 minutes ago, sixgun said:

The point is Lol, the issue of counterfeit was brought up by another member - the circulating fiat is counterfeit and fraudulent.

 

it is not counterfeit and fraudulent. it's part of

the tax system we use. the government prints

currency. on the currency they claim that

tax paying citizens of the nation are prepared to

give real goods and services if you present them

with this £5 that they can use to pay their taxes.

printing currency is the governments way of

paying for things with taxes that they have yet to

receive. it's a debt token that can exchange or

cash in as payment of taxes.

 

HH

[goldking]

1 hour ago, zhoutonged said:

Could you enlighten me as to why the GSR is no longer relevant? Its a bit of a bug bear for me, one of two LOL

Not for this thread.

Discussed at length here : 

 

[HawkHybrid]

7 minutes ago, zhoutonged said:

So why do they prints notes that look just like promissory notes, why do they use silver coloured coins with milled edges?

The very definition of counterfeit, as posted previously.

 

they promise you that a tax paying citizen will

likely want to exchange the debt token for real

goods and services to the figure printed.

(the promise is that the debt token will be

accepted under law as payment for sums due)

the similarities to recognised money is to make

an easier transition from money to currency.

and then why change something that will likely

confuse everybody?

 

HH

Edited March 4, 2020 by HawkHybrid

[goldking]

10 minutes ago, zhoutonged said:

Food another area where prices have fallen in relative terms.

What is this nonsense?!  

[goldking]

5 minutes ago, zhoutonged said:

Not about your situation 😂but food used to take about 60% of the average persons income, so yeah it has fallen in real terms. 

Please provide sources, comparing like for like, ie. 100% unprocessed food stuffs - meat, fish, fruit, veg, grains, dairy etc.

[KevjustKev]

3 hours ago, SilverPirate007 said:

Gold is not money, I can not walk into a shop and pay in gold. In fact I very much doubt the average member of the public even knows the value of gold.

Let's just say, for arguments sake, it doesn't collapse, when would you be swayed that actually, in fact it is not collapsing? 2025, 2030?

Good question to ask the public, maybe ask people tomorrow when I'm in town, and bung it up on youtube. 

[5huggy]

ANYONE else see the "algorithmic "PATTERN" of manipulation!??🤨😣

 

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Clearly the pressure is upward! - but the "BATTER DOWN" pattern stands out a MILE! 

[5huggy]

@zhoutonged - you'll be amazed at the lack of awareness! 🙄 😵

[Paul]

10 minutes ago, 5huggy said:

ANYONE else see the "algorithmic "PATTERN" of manipulation!??🤨😣

 

nice to see no pornography tabs have been left open  😆🤩 @5huggy

[5huggy]

19 minutes ago, Paul said:

nice to see no pornography tabs have been left open  😆🤩 @5huggy

Oh jeeze - thank gawd I had shut em! LOLOLOLOLOLOLOLOLOLOL! 

but just for you @Paul

[5huggy]

But apart from the "Bumps"! 

In the last half hour - Who has the kind of "CLOUT" to take the "RISK" of shorting to this extent!?

Look at the "thumper's" from PPT - this is now getting beyond ridiculous IMHO! 

[sovereignsteve]

6 hours ago, zhoutonged said:

But what about the GSR

It was and is the ratio of the gold price to the silver. it has continued to be higher than historical levels and continues that trend.

some people believe it will revert to the mean and beyond, and that makes silver a good buy at these prices. for this to happen you have to believe the two metals have the same uses and relative status they had historically and that these haven't changed with time. others believe the opposite and historical levels of GSR have no bearing on future levels.

No one knows for sure.

[sixgun]

5 hours ago, HawkHybrid said:

 

they promise you that a tax paying citizen will likely want to exchange the debt token for real goods and services to the figure printed.

(the promise is that the debt token will be accepted under law as payment for sums due) the similarities to recognised money is to make an easier transition from money to currency. and then why change something that will likely confuse everybody?

HH

No they don't promise this. In previous times you could turn up to the bank - present the £5 note and you would receive 5 sovereigns. The note is a promissory note and the promise is five pounds - that is five sovereigns. 

That is what these note are - but they are no-longer honoured - they are dishonoured - they are fraud - they are counterfeit. The system is bankrupt and cannot pay. 
With a promissory note - the maker of the note makes a promise to do something - to exchange something - to pay something. You cannot promise that someone else is likely to want to do something - that is contractually invalid - that 'tax paying citizen' whoever that might be is not a party to the contract.

[sovereignsteve]

3 minutes ago, sixgun said:

With a promissory note - the maker of the note makes a promise to do something - to exchange something - to pay something. You cannot promise that someone else is likely to want to do something - that is contractually invalid - that 'tax paying citizen' whoever that might be is not a party to the contract.

Exactly. The note maker simply promises to keep pound sterling as the currency of the UK and to keep you issued with an up to date promissory note for 5 pounds. what the real world value and what you can buy with it is up to the open market and suppliers of said goods or services. The maker makes no promises of the true value of the promissory note.

[sixgun]

15 minutes ago, sovereignsteve said:

Exactly. The note maker simply promises to keep pound sterling as the currency of the UK and to keep you issued with an up to date promissory note for 5 pounds. what the real world value and what you can buy with it is up to the open market and suppliers of said goods or services. The maker makes no promises of the true value of the promissory note.

No the note maker does not promise that - the promise is to pay the bearer on demand the sum of five pounds - not to exchange it for another promissory note.  The promise is the sum of five pounds - we know what five pounds are b/c when they kept that promise they paid over 5 sovereigns. This is 5 pounds - the notes are promises of those pounds. 

The system is bankrupt - the country is bankrupt - they are fraudulently issuing promissory notes knowing they cannot keep the promises.

As i say the country is bankrupt - it went insolvent in 1932 - funnily enough the same year the United State (Federal Corporation) went bust. It is all fraud - i realise some members won't accept that but that is how it is. Now banks just create currency out of thin air and charge interest on it - but they have reserves - reserves of fraudulent promises. The dollars created by banks outside the Federal Reserve System - the Eurodollars  often do not need any reserves - they can create infinite amounts with the click of a mouse. It is the most massive Ponzi scheme. No wonder these blighters fight gold and silver tooth and claw - it is the anti-matter to their fiat paper.

Edited March 4, 2020 by sixgun