Gold Monitoring Thread £ GBP only

[paolo]

On 01/05/2022 at 10:52, flyingveepixie said:

In their malice the power mad sociopaths at JP Morgan et al will probably manipulate the silver spot price down even further than it is now if it ever comes to that ( or will they manipulate it upwards if fiat is finished..?  🤔)  . Having spent almost a full day yesterday trying to understand the economic theory and practice behind the manipulation of silver, asking questions on the silver price thread and following up with some research of my own, the results of what I found are truly disturbing.   The end result was me lying in my bed last night going through little imaginary scenarios in my head and wondering if one day when they finally inflate fiat currency to complete worthlessness, might they also decide to simply declare gold as a worthless commodity so they can continue to retain their hold on financial power by introducing cbdc's as the saviour of all...   After all, being almost completely chemically inert gold has no real use apart from making pretty jewellery and coins to look at, and only has the value it has because everyone agrees that it's so desirable and wants a piece of it,  and from the covid farce of the last two years we all know what can be achieved with a little bit of international cooperation by gullible puppets in various governments around the world.

Or alternatively they may make it illegal to hold pm as they did in the USA in the 1930s

Could/will it ever happen..?   Please discuss..

I am on the same line of thinking as you. In general, the power in control will never let go the control of the currency. And of course they know people will run to PM and surely they are much steps ahead and very prepared for this. Just wondering what is their plan for PM. And also i think that PM will not be let run up until the very end of the system, until then it will stay suppress. The moment PM will stop to be suppressed will be the end of the current system, which probably means an event of huge proportion, some external event to blame. First think that come in mind is a war with Russia. At that point is very likely they will confiscate metals for national emergency, or put a limit you can possess. Either way they make the rules and will never let people win, at any cost, better they destroy the world but will not lose the control of the currency. Of course better to have PM rather than not, but i dont think that we can escape their plan by simply owning metals. That is a very naive thinking. They will take everything from the people as always, using any mean possible. In a kind of reset scenario with martial law and any type of government abuse , it s very naive to think they will let you keep your metals and prosper. It would be a paradigm shift where even private property itself will be at risk. I am a stacker myself, but i am starting to realize that the same moment the fiat collapses they will make our stack illegal or just unusable. I guess they have already plan that. I think the step will be: end of manipulation---> confiscation. On the other side there is to point out one thing: we are going toward a polarized world, therefore i dont think all world will have same approach on this, but probably only the bankrupt western world, as it was for americans in 1933. 

Edited May 2, 2022 by paolo

[flyingveepixie]

9 minutes ago, paolo said:

I am on the same line of thinking as you. In general, the power in control will never let go the control of the currency. And of course they know people will run to PM and surely they are much steps ahead and very prepared for this. Just wondering what is their plan for PM. And also i think that PM will not be let run up until the very end of the system, until then it will stay suppress. The moment PM will stop to be suppressed will be the end of the current system, which probably means an event of huge proportion, some external event to blame. First think that come in mind is a war with Russia. At that point is very likely they will confiscate metals for national emergency, or put a limit you can possess. Either way they make the rules and will never let people win, at any cost, better they destroy the world but will not lose the control of the currency. Of course better to have PM rather than not, but i dont think that we can escape their plan by simply owning metals. That is a very naive thinking. They will take everything from the people as always, using any mean possible. In a kind of reset scenario with martial law and any type of government abuse , it s very naive to think they will let you keep your metals and prosper. It would be a paradigm shift where even private property itself will be at risk. I am a stacker myself, but i am starting to realize that the same moment the fiat collapses they will make our stack illegal or just unusable. I guess they have already plan that. I think the step will be: end of manipulation---> confiscation. On the other side there is to point out one thing: we are going toward a polarized world, therefore i dont think all world will have same approach on this, but probably only the bankrupt western world, as it was for americans in 1933. 

Salve Paolo.  Those are my suspicions too and I think a big part of what they will do will be to introduce the Central Bank Digital Currency concept along with a social credit system like they have in China.  We are already seeing some social credit scenarios in a soft kind of way with bans or restrictions on social media if you say the wrong thing or voice the wrong opinion for example.  Only time and circumstance will tell how it all plays out depending on whether or not people accept it or not.  My gut instinct is that the large majority will simply go along with whatever is thrown at them just as they did with all the covid restrictions.

[Paul]

take your pick of " little pr**ks " that could send us back on course to da'moon again - and im not on about MPs 

Edited May 2, 2022 by Paul

[flyingveepixie]

Back up to £1495 from a low of around £1483 earlier today.  Is that the dip over I wonder..?   I was hoping to buy a couple of sovs on the cheap.. Drat.😟

Edited May 2, 2022 by flyingveepixie

[Darr3nG]

30 minutes ago, flyingveepixie said:

I was hoping to buy a couple of sovs on the cheap.. Drat.😟

Those words have been spoken by many a forum member over the years!

[DarkChameleon]

When PMs are worth a fortune they will be confiscated to keep the norms upheld, imagine if only the poor had access to crypto from the beginning and the balance of power had changed, the poor became rich and the rich poor, it would not be allowed to happen, while the rich own the politicians and lawyers the law would change to suit the rich which is why the rich still walk on murder and the poor go down for life for spitting on them.

[FlorinCollector]

2 minutes ago, DarkChameleon said:

When PMs are worth a fortune they will be confiscated to keep the norms upheld, imagine if only the poor had access to crypto from the beginning and the balance of power had changed, the poor became rich and the rich poor, it would not be allowed to happen, while the rich own the politicians and lawyers the law would change to suit the rich which is why the rich still walk on murder and the poor go down for life for spitting on them.

The poor always sell to the rich in the end. 

[GoldenGriffin]

Anyone can become rich.

It depends on your definition and how you see it.

And anyone can give to the poor and it doesn't have to be money, it can be time, or doing something thoughtful, which members of TSF are! ☺️

Now TSF members, please send me your excess gold and silver!

Thank you all kindly in advance. 😁 

Edited May 2, 2022 by GoldenGriffin

[HerefordBullyun]

5 minutes ago, GoldenGriffin said:

Anyone can become rich.

It depends on your definition and how you see it.

And anyone can give to the poor and it doesn't have to be money, it can be time, or doing something thoughtful, which members of TSF are! ☺️

Now TSF members, please send me your excess gold and silver!

Thank you all kindly in advance. 😁 

Sorry forum rule 2.2.2a states that any excess stacks must be donated to the rank of grandmaster and must have a name at least or part of a male cow....

 

[DarkChameleon]

4 hours ago, FlorinCollector said:

The poor always sell to the rich in the end. 

Only if the rich have what they want...off the grid baby.

[DarkChameleon]

2 hours ago, HerefordBullyun said:

Sorry forum rule 2.2.2a states that any excess stacks must be donated to the rank of grandmaster and must have a name at least or part of a male cow....

 

That's what they mean by eat the rich...burger the lot of em.

[flyingveepixie]

Am I correct in thinking that if the BOE increases interest rates on Thursday, the gold spot price is likely to fall?

[CollectForFun]

6 hours ago, flyingveepixie said:

Am I correct in thinking that if the BOE increases interest rates on Thursday, the gold spot price is likely to fall?

Gold price as such in USD terms likely no. In GBP terms however likely yes, given that higher interest rates should strengthen GBP against other currencies including USD. At least in theory.

[RDHC]

37 minutes ago, CollectForFun said:

Gold price as such in USD terms likely no. In GBP terms however likely yes, given that higher interest rates should strengthen GBP against other currencies including USD. At least in theory.

But won't high rates of inflation counter-act this tendency? And perhaps the recent decline to below 1500 is due to people pricing-in the expected interest rate rise??

I believe there is a study of the price of gold over a long period by a big American bank - J.P. Morgan/Chase Manhattan? - that concluded that the price is often, if not entirely, independent of theoretical influences such as interest rates and rates of inflation, in which case there is a degree of mystery about how it moves on occasion.

I'd be interested to hear the views of the better informed.

[jultorsk]

The Bank of England has raised interest rates to their highest level in 13 years as it looks to tackle the cost of living crisis gripping the UK. 

It announced an increase from 0.75 per cent to 1 per cent on Thursday, a level which has not been seen since the aftermath of the financial crisis in early 2009.
The Bank of England’s Monetary Policy Committee (MPC) voted in favour of the rise with six votes to three. 
Those who opposed it - Jonathan Haskel, Catherine Mann, and Michael Saunders - wanted a larger increase to 1.25 per cent, the central bank said.

It was the fourth time in a row the committee has voted in favour of an interest rate hike, as the UK grapples with soaring inflation driven by rising energy costs. 
In its report on Thursday, it also warned the economy will go into reverse and inflation- will peak at more than 10 per cent as the Ukraine war compounds cripppling living costs.

https://www.independent.co.uk/news/business/bank-interest-rates-uk-live-inflation-2022-b2072034.html

[Piperscoins]

Interest rates should of gone up at least 0.5% to 1.25%

[MancunianStacker]

🤷‍♂️ 

£ against $ now down almost 2%

🤔
 

Gold up 2.62%  😀 

Edited May 5, 2022 by MancunianStacker

[EdwardTeach]

I thought that to reign in rapidly rising prices interest rates would need to be raised higher than inflation. With real world inflation somewhere well above 10% per year now that means interest rates realistically need to be somewhere around the 15% mark.

 

[MancunianStacker]

2 minutes ago, EdwardTeach said:

I thought that to reign in rapidly rising prices interest rates would need to be raised higher than inflation. With real world inflation somewhere well above 10% per year now that means interest rates realistically need to be somewhere around the 15% mark.

 

I think they do it slowly so as not to destroy the housing market and various other areas of business 

[jultorsk]

16 minutes ago, MancunianStacker said:

I think they do it slowly so as not to destroy the housing market and various other areas of business 

True. And there's elections, Jubilees and whatnot to consider. But @EdwardTeachis correct, the BoE, and other central banks, are woefully behind the curve.

🐇🕳️⚠️ (rabbit-hole warning):

 

[Petra]

29 minutes ago, MancunianStacker said:

I think they do it slowly so as not to destroy the housing market and various other areas of business 

Interest hikes are to stop or slow down spending, it won’t work this time because of the worldwide causes of high prices 

[flyingveepixie]

The spot price seems to be on a steep upwards curve now at £1538.43.  Surely that can't only be because of the BOE 0.25%  interest rate hike?? I thought that would have had the opposite effect 🤔  Clearly there are other factors involved.

Maybe we'll see another all time high if it keeps up..

Edited May 5, 2022 by flyingveepixie

[modofantasma]

9 minutes ago, flyingveepixie said:

The spot price seems to be on a steep upwards curve now at £1538.43.  Surely that can't only be because of the BOE 0.25%  interest rate hike?? I thought that would have had the opposite effect 🤔  Clearly there are other factors involved.

Maybe we'll see another all time high if it keeps up..

Partly because gold is rising in USD price and partly because GBP is falling vs USD 

 

Edited May 5, 2022 by modofantasma
Smelling misteak

[RDHC]

6 minutes ago, flyingveepixie said:

The spot price seems to be on a steep upwards curve now at £1538.43.  Surely that can't only be because of the BOE 0.25%  interest rate hike?? I thought that would have had the opposite effect 🤔  Clearly there are other factors involved.

Maybe we'll see another all time high if it keeps up..

If I understand correctly, the rate rise is designed to curb inflation. The gold market, however, seems to think that inflation will be the winner in this contest. Perhaps other markets will reach a similar conclusion.

But don't trust my reasoning; I am not an economist and I am usually wrong on most things.

[Ukbullionfan]

18 minutes ago, RDHC said:

If I understand correctly, the rate rise is designed to curb inflation. The gold market, however, seems to think that inflation will be the winner in this contest. Perhaps other markets will reach a similar conclusion.

But don't trust my reasoning; I am not an economist and I am usually wrong on most things.

Based on what you just said about yourself why even comment ? Lol.