Gold Monitoring Thread £ GBP only

[CazLikesCoins]

On 08/06/2023 at 15:41, flyingveepixie said:

Victims are to be selected at random, and for now there will be only 15 of them at each of the two locations of East Finchley and Central Jarrow..

East Finchley lol. Where the average house price is over a million pounds. They'll barely notice the £1600 quid hitting their bank accounts.

[flyingveepixie]

1 hour ago, CazLikesCoins said:

East Finchley lol. Where the average house price is over a million pounds. They'll barely notice the £1600 quid hitting their bank accounts.

Maybe they chose the two locations for their differences and because they're just about as polar opposite as you could get.

In terms of poverty, drug problems, unemployment, and general lowlifery, you couldn't get much lower than Central Jarrow...

https://www.rightmove.co.uk/house-prices/east-finchley.html

https://www.rightmove.co.uk/house-prices/jarrow.html

 

They could have gone to further extremes and chosen somewhere like Mayfair and the East End of Glasgow for example, but that might have been a bit too obvious

https://www.gcph.co.uk/population_health_trends/life_expectancy_in_glasgow

Edited June 10, 2023 by flyingveepixie

[CazLikesCoins]

1 hour ago, flyingveepixie said:

Maybe they chose the two locations for their differences and because they're just about as polar opposite as you could get.

In terms of poverty, drug problems, unemployment, and general lowlifery, you couldn't get much lower than Central Jarrow...

https://www.rightmove.co.uk/house-prices/east-finchley.html

https://www.rightmove.co.uk/house-prices/jarrow.html

 

They could have gone to further extremes and chosen somewhere like Mayfair and the East End of Glasgow for example, but that might have been a bit too obvious

https://www.gcph.co.uk/population_health_trends/life_expectancy_in_glasgow

The posh lot will stick the extra dosh wherever they usually stick dosh to maximise profits thus making even more wealth and the poor will spend it on booze, fags, porn, drugs, badly chosen bets, rub n tug massages, Hello magazines and Pot Noodle.

Money doesn't elevate anybody. They just do more of whatever they already do. I think UBI is a really bad idea. Chucking cash at people when the economy is buggered never helped anyone. Apart from Fred getting more rub n tugs off the welfare state.

Also heaven help the poor buggers who get the extra handouts when their mates, neighbours and family find out. By the time the vultures bugger off after getting a loan/handout whatever is left won't be worth the aggro of ever getting it in the first place lol.

Edited June 10, 2023 by CazLikesCoins

[Prophecy]

So much for a hedge against inflation... a sov in summer 2020 was around £350 (e.g.4% premium)... if it had risen in value with the inflation from then it would be worth +£430 now. Ouch. Hodl.

Edited June 13, 2023 by Prophecy

[Roy]

On 10/06/2023 at 06:48, CazLikesCoins said:

The posh lot will stick the extra dosh wherever they usually stick dosh to maximise profits thus making even more wealth and the poor will spend it on booze, fags, porn, drugs, badly chosen bets, rub n tug massages, Hello magazines and Pot Noodle.

Money doesn't elevate anybody. They just do more of whatever they already do. I think UBI is a really bad idea. Chucking cash at people when the economy is buggered never helped anyone. Apart from Fred getting more rub n tugs off the welfare state.

Also heaven help the poor buggers who get the extra handouts when their mates, neighbours and family find out. By the time the vultures bugger off after getting a loan/handout whatever is left won't be worth the aggro of ever getting it in the first place lol.

Gosh, this is so accurate. Scary.

Let's give an unemployed alcoholic with a drug problem lots of cash and see how long he lasts? A cruel experiment. A cruel joke.

Remember Michael (Mickey) Carroll, the pikey lottery winner? Living in the woods, last I heard.

[flyingveepixie]

1 hour ago, Roy said:

the poor will spend it on booze, fags, porn, drugs, badly chosen bets, rub n tug massages, Hello magazines and Pot Noodle.

And here was me thinking it would go on scratchcards and vapes....🙄

[CazLikesCoins]

4 hours ago, Roy said:

Gosh, this is so accurate. Scary.

Let's give an unemployed alcoholic with a drug problem lots of cash and see how long he lasts? A cruel experiment. A cruel joke.

Remember Michael (Mickey) Carroll, the pikey lottery winner? Living in the woods, last I heard.

I read a true story once, can't remember where. A CEO of a large company offered a tramp a well paid job, an apartment and expense account. The tramp took the offer. A month later the CEO found the tramp back in his usual spot on the street. Asking what happened, the CEO was told the tramp was more comfortable with his old life, so he went back to it. That's why I think throwing money at people is a bad idea, because many people will just enhance their existing needs, more drugs, more booze, more rub & tugs. It won't change peoples personalities and they may end up OD'ing and ruining their livers far earlier than Jobseekers benefits will allow. There is a great unwashed and they're perfectly happy being dirty buggers. 

I'll also add it's why fat people stay fat, poor people stay poor, and why people with addictions find it difficult to change their habits. Most people quite like what they do, and despite daydreams of being slim or having a bit of money in the bank, they'd rather gobble down a McMuffin for breakfast and get kaylied before lunch. There's always tomorrow to change, except there never is. 

Edited June 13, 2023 by CazLikesCoins

[PapaLazarou]

4 hours ago, Roy said:

Living in the woods, last I heard.

Possibly the wisest decision anybody could make in the current UK shιtshow that so many ovine buffoons accept as being a democracy.

[CazLikesCoins]

17 minutes ago, PapaLazarou said:

Possibly the wisest decision anybody could make in the current UK shιtshow that so many ovine buffoons accept as being a democracy.

I think everyone should have a tent and sleeping bag these days. I'll bet plenty of Ukrainians wished they did when they had to flee homes. I'd rather be in woods than trying to sleep next to some gropey gimp in a train station.

Oops I've just remembered this is the gold monitoring thread, not the random chatter thread 

 

 

Edited June 13, 2023 by CazLikesCoins

[Stacktastic]

5 hours ago, Prophecy said:

So much for a hedge against inflation... a sov in summer 2020 was around £350 (e.g.4% premium)... if it had risen in value with the inflation from then it would be worth +£430 now. Ouch. Hodl.

I remember Etherium at £170 I think in 2020. too risky for me at the time, but what a mark up even now. 

58 minutes ago, CazLikesCoins said:

I think throwing money at people is a bad idea, because many people will just enhance their existing needs, more drugs, more booze, more rub & tugs.

What about wasting a whole morning looking at girls on Instagram, even when you have a job to do. 😛 

This is a gold thread so I have a question? 
What made gold dip last week - was it the weaker dollar? 
I also see alt coins got hammered down too. 

On the flip side silver went up where as copper did not?? 

FOMC tomorrow I think could really shake stuff up - especially as the markets are showing a top. 
I have been sitting and Waiting to inject about 10k into GDX.  

Edited June 13, 2023 by Stacktastic

[flyingveepixie]

55 minutes ago, CazLikesCoins said:

I think everyone should have a tent and sleeping bag these days. I'll bet plenty of Ukrainians wished they did when they had to flee homes. I'd rather be in woods than trying to sleep next to some gropey gimp in a train station.

Oops I've just remembered this is the gold monitoring thread, not the random chatter thread 

 

 

Currently at £1562.69, just to get things back on track before Chris comes along ..

[flyingveepixie]

4 hours ago, Stacktastic said:

This is a gold thread so I have a question? 
What made gold dip last week - was it the weaker dollar? 
I also see alt coins got hammered down too. 

On the flip side silver went up where as copper did not??

I find this interesting, particularly in relation to silver spot which is remaining quite steady.  I think the fall in gold spot might be relaterd to speculation on what the FED is going to do next, ie raise interest rates.  Then there's all the ongoing stuff about the debt ceiling and all the lies about how the economy is recovering etc etc..

Edited June 13, 2023 by flyingveepixie

[HonestMoneyGoldSilver]

The price action lately reflects DXY (USD strength) and attempts to predict Fed and Treasury interventions. We've just seen a mini spike upwards. Why did that happen? Well, important inflation figures were released in the USA ~30 minutes ago. If inflation is below analyst expectations then it's more likely the Fed will pause tomorrow, if above expectations it's more likely the Fed will hike. Or it could just be a typical intra-day swing when the traders at JPM start work on the East Coast. While I'm typing the spike has been completely reversed and now we're in negative territory, perhaps inflation is hotter than expected or JPM are grumpy this morning. Some men just want to watch the world burn, speculation and counterbalance.

On the Fed, folks are now predicting on CME FedWatch (which is a measure of Interest-Rate Traders analysing the probabilities of changes to the Fed rate and U.S. monetary policy as implied by 30-Day Fed Funds futures pricing data), that there will be a pause on 14th June but the Fed will hike again in July. That would lead to a spike tomorrow but those gains would be wiped out in July. (Odds are currently 95.3% of a pause on 14th June and 63.1% of a hike on 26th July)

I'd love to be proven wrong, every Fed hike is pushing mortgagees and renters closer to the wall and increasing tail risk in the inevitable recession (which we are already in unless you want to change the definition of words, something the DNC are fond of). I'm still predicting the Fed is targeting circa 6% and the BoE around 5.5% and that the Fed will probably hike tomorrow, which will cascade to the BoE and ECB. If they wait an extra month until July the net result is the same. I made those claims quite a while ago and I've been seeing headlines over the past few days talking about the BoE and 5.5%. We're all playing catch-up. Some people have an idea of what matters to certain institutions and to markets but really only the Fed and DNC know the true agenda.

On the current trajectory the USA will be in recession well in time for Christmas, which will have a major influence on the next Presidential Election. Typically the Fed is a DNC instrument and wouldn't attempt to cause a recession leading up to an election (every time in history there has been an economic crisis the ruling party in the USA changes, ergo causing a recession = ending DNC rule). But Jerome Powell was appointed by Trump and the Fed imagines it has "credibility" therefore it must stick to its mantra about containing inflation whatever the cost. To this end the Fed has engaged in conspiracy (their actions are technically illegal) with the US Treasury so that the Fed can tighten (hike rates) while the Treasury counterbalances with fiscal policy and loosens (non-QE, QE and TQT). Doesn't matter what those letters stand for the important takeaway is the pair of them are acting to manipulate markets and provide a backstop for their friends using unscrupulous means - e.g. covering every depositor at SVB even those > $250K FDIC limit at taxpayer expense while explaining to the public, naturally, that the taxpayer didn't pay for it, the banking system did. That the banking system will pass on this tax to the taxpayer makes no difference to their political agenda. NOTHING TO SEE HERE, THIS IS NOT A TAXPAYER BAILOUT

Anyway, I'm concerned the Fed-Treasury open conspiracy, which has been mirrored by Jeremy (C)Hunt and the BoE, will give the CBs greater freedom to hike rates without risking putting their friends out of business. Specifically that means bankruptcies and foreclosures for homeowners and the poor people but the rich people and the corporations will be given unlimited 0% finance (an enormous net subsidy of +inflation) if and when they experience fiscal difficulties. The net result for gold and precious metals will still be positive and the price will rocket even higher after the grander pivot, but this pivot has been delayed and like I've been saying here for a while, gold and silver will trade sideways or down from now until the pivot, provided there aren't new banking crises, new wars or similarly impactful geopolitical events/natural disasters.

[Bigmarc]

4 hours ago, CazLikesCoins said:

I read a true story once, can't remember where. A CEO of a large company offered a tramp a well paid job, an apartment and expense account. The tramp took the offer. A month later the CEO found the tramp back in his usual spot on the street. Asking what happened, the CEO was told the tramp was more comfortable with his old life, so he went back to it. That's why I think throwing money at people is a bad idea, because many people will just enhance their existing needs, more drugs, more booze, more rub & tugs. It won't change peoples personalities and they may end up OD'ing and ruining their livers far earlier than Jobseekers benefits will allow. There is a great unwashed and they're perfectly happy being dirty buggers. 

I'll also add it's why fat people stay fat, poor people stay poor, and why people with addictions find it difficult to change their habits. Most people quite like what they do, and despite daydreams of being slim or having a bit of money in the bank, they'd rather gobble down a McMuffin for breakfast and get kaylied before lunch. There's always tomorrow to change, except there never is. 

I feel like I'm being told off. 

[EdwardTeach]

9 hours ago, Prophecy said:

So much for a hedge against inflation... a sov in summer 2020 was around £350 (e.g.4% premium)... if it had risen in value with the inflation from then it would be worth +£430 now. Ouch. Hodl.

Correct me if I’m wrong here (I probably am 😄) but I think I recall seeing Sovereigns selling for around £320 back in mid 2021 and lately they've been selling for around the £420 mark. That’s seems about right for gold keeping up with inflation to me.

But yeah defo hodl! 😎

 

Edited June 13, 2023 by EdwardTeach

[Bigmarc]

21 minutes ago, EdwardTeach said:

Correct me if I’m wrong here (I probably am 😄) but I think I recall seeing Sovereigns selling for around £320 back in mid 2021 and lately they've been selling for around the £420 mark. That’s seems about right for gold keeping up with inflation to me.

But yeah defo hodl! 😎

 

Yep, and this was from the pricey ones. 

Edited June 13, 2023 by Bigmarc

[LemmyMcGregor]

4 hours ago, CazLikesCoins said:

I read a true story once, can't remember where. A CEO of a large company offered a tramp a well paid job, an apartment and expense account. The tramp took the offer. A month later the CEO found the tramp back in his usual spot on the street. Asking what happened, the CEO was told the tramp was more comfortable with his old life, so he went back to it. That's why I think throwing money at people is a bad idea, because many people will just enhance their existing needs, more drugs, more booze, more rub & tugs. It won't change peoples personalities and they may end up OD'ing and ruining their livers far earlier than Jobseekers benefits will allow. There is a great unwashed and they're perfectly happy being dirty buggers. 

I'll also add it's why fat people stay fat, poor people stay poor, and why people with addictions find it difficult to change their habits. Most people quite like what they do, and despite daydreams of being slim or having a bit of money in the bank, they'd rather gobble down a McMuffin for breakfast and get kaylied before lunch. There's always tomorrow to change, except there never is. 

Take Africa and how through the years we kept sending equipment which eventually just waste away.

I've talked to many homeless, some used to be customers when I worked a bar, other while working security, some just stopped for a chat; many became homeless because they refused to play the game. I knew a guy in Fiesole, just out of Florence, German engineer, wife, kids, the lot, I think he used to work on bridges or something, he was making a truckload of money. Met him at the bar, he was on holiday with the family, I think they came back the year after all together, then he said enough, left family and work, came back on his own with a bag filled with wire and he'd sit in the main square making jewerly with copper wires, sleeping where he could. I remember him telling me that he felt trapped in a situation where everyone wanted a piece of him, so he got rid of everyone.

I don't remember his name, might have been Heinz, we're talking about 35 years ago, he was well known amongst the locals.

And is not just tramps, prostitutes too, I've got some funny stories, I'd finish working the bat at 3am and there were not many places to go, there is this place by the market that would open at night for the truckers unloading at the market, it would obviously fill with all sort of creatures of the night, dealers, prostitutes and bar workers like me, they all got in the life willingly. One used to work on a road on my way there and occasionally I'd stop to check on her and if she had enough I'd give her a lift on my Vespa, she's got a few battering from time to time, but she didn't care to go back to an office work, she was making good money and all she cared for was looking after her mother. I remember last I saw her she'd just bought a house for her mother and was saving to buy another one, her idea was to sell herself to buy properties and retire. With how poor ideas go, she was probably smarter than many.

As for fatties, my mate is a fat bastard and he knows it, he knows it'll kill him, he has nothing to live for, he doesn't care, so he takes it day by day.

The problem with activists and people in general that think you can solve anything by throwing money at it, is that they don't understand how different we are, they probably have never talked to any of these folks they want to "save".

[Midasfrog]

£1549 seems to be dropping by £10 each week at the moment over the last 4 to 5 weeks 🤔

Last weekend was at £1560 so guessing this weekend will be just below £1550 

When is back to the Moon ?  @Paul 

[CaptCaveMan]

1 minute ago, Midasfrog said:

£1549 seems to be dropping by £10 each week at the moment over the last 4 to 5 weeks 🤔

Last weekend was at £1560 so guessing this weekend will be just below £1550 

... Hope it keeps dropping 🤞

I might be able to afford some 2023 Bu Sovs when they arrive 😎

[Upsidedown]

3 minutes ago, Midasfrog said:

£1549 seems to be dropping by £10 each week

115 weeks to go for £400 gold !!!!

[Darr3nG]

[stefffana]

26 minutes ago, Darr3nG said:

 

 

Edited June 13, 2023 by stefffana

[James32]

That feeling when the whole dream goes down the drain 😖

[ZRPMs]

   Quick, QUICK. Catch the gold price. My net worth is dropping.

[Upsidedown]

Crikey, if it keeps going down I might actually be able to afford something!

Nearly 1540!

Dropping like a hoe on the dancefloor