The coming Gold crash

[TommyTwoShots]

Looking at his posts he wasn’t wrong completely though. Gold has fallen since last Autumn

[LawrenceChard]

On 17/06/2021 at 12:03, Darr3nG said:

I miss @Wonger - hasn't been on since last August.

Any downward gold price, was always accompanied by a significant increase in the number of his posts.

Yes, it's funny why he has gone so quiet.

[Bigmarc]

13 minutes ago, LawrenceChard said:

Yes, it's funny why he has gone so quiet.

The answer is probably at the top of your screen, or he just got tired of engaging with preppers, doomsayers and end of the world fanatics that seem bitter an twisted that the forever incoming apocalypse hasn't happened for them yet.

[LawrenceChard]

2 hours ago, Bigmarc said:

The answer is probably at the top of your screen, or he just got tired of engaging with preppers, doomsayers and end of the world fanatics that seem bitter an twisted that the forever incoming apocalypse hasn't happened for them yet.

Yes, I did see that a few days ago, before the first of my recent posts in this topic, and I could see a few comments which were questionable.

I am sometimes contrarian, and I do understand that lateral or contrary thinking has value, but am not surprised that Wonger was experiencing some ridicule. Apart from a very extreme forecast, I did not see any solid evidence or reasoning in his posts, and indeed in some there was evidence of very woolly and illogical thinking.

I was therefore highly sceptical of his posts and views, but hope that anything I posted remained polite and respectful, while still reflecting my views.

I do remember some similar posts about silver from a year or so previous, and at first could not remember whose posts they were, but I gather they were also by Wonger, and were also wrong.

I am also anti-hype, anti-doom, anti-conspiracy theory, and anti-anti-vax.

@ChardsCoinandBullionDealer would probably sell much more gold and silver if I / we did peddle doomsday stuff, but that would be wrong, and dishonest bearing in mind that we do not believe it. I would rather be the sound voice of reason, although even moderate are allowed to express their opinions (and sometimes get mocked for it).

[Roy]

34 minutes ago, LawrenceChard said:

@ChardsCoinandBullionDealer would probably sell much more gold and silver if I / we did peddle doomsday stuff

May I make a suggestion? A new line perhaps?

http://www.noblemint.com/prepper-pack

 

[LawrenceChard]

41 minutes ago, Roy said:

May I make a suggestion? A new line perhaps?

http://www.noblemint.com/prepper-pack

 

Hmmm!

As I expected once I started reading it, there was no total weight quoted, not any mention of the premium. Not very customer friendly.

Why obscure this important information? The usual reason is the seller does not want the buyer to know.

I put the figures into my scratchpad spreadsheet:

Qty	Each	Sub-Total
10	0.125	1.25
10	0.25	2.5
5	0.5	2.5
5	1	5
30	Total	11.25
	$p per gram	56.724
	Intrinsic	638.145
	Price	975
	Ratio	1.52786592
	Premium	52.7865923

So, total weight 11.25 grams (0.36169562 troy ounces).

...and a whopping great 52.79% premium! Now wonder Noble Mint kept quiet about it.

Thats a rip-off premium and price for suckers, IMO.

Sure it might make money, but it's not for us! 🙂

@ChardsCoinandBullionDealer

Edited June 19, 2021 by LawrenceChard
added tag

[Roy]

As endorsed by P.T. Barnum?

[AndrewSL76]

More like PJ and Duncan, that lot.

[GoldDiggerDave]

The prepping ideal is bonkers. In a economic crash or natural disaster pm’s won’t save anyone. Selling on the back of fear is not a new formula but it’s proven to be successful.  If the worst did happen most would be far better off being fit, healthy and have real world skills.  

 

 

[Spanishsilver]

18 minutes ago, GoldDiggerDave said:

The prepping ideal is bonkers. In a economic crash or natural disaster pm’s won’t save anyone. Selling on the back of fear is not a new formula but it’s proven to be successful.  If the worst did happen most would be far better off being fit, healthy and have real world skills.  

 

 

Real world skills. Going to be a lot of people sh out of luck. 😆

[KRO]

On 16/06/2021 at 20:50, LawrenceChard said:

That was about 1964 to 1966.

There were quantitiy discounts,  £37.50 per 10, £365 per 100, and £3500 per 1000. 

https://24carat.co.uk/collectingcoinsframe.html

Milk? dunno, beer? about two shillings a pint (in a pub).

 

exactly when I bought my first 4 sovs , cost me £16, wages were £8 per week at Barclays Bank
vowed to spend half my wages each month on them , but wine and women got in the way😀

[LawrenceChard]

2 hours ago, KRO said:

exactly when I bought my first 4 sovs , cost me £16, wages were £8 per week at Barclays Bank
vowed to spend half my wages each month on them , but wine and women got in the way😀

That sounds like a good lifestyle balance to me! 

... although I could never manage two bottles at one go. 🙂

[Roy]

Is that still average now? 1 sov is half your wage?

I don't know what you boys earn today?

[AndrewSL76]

3 minutes ago, Roy said:

Is that still average now? 1 sov is half your wage?

I don't know what you boys earn today?

Sounds like he was saying 4 Sovs were £16. So £4 each. He was earning £8 a week. You would need to be earning £630-660 a week these days.

According to: https://www.statista.com/statistics/1002964/average-full-time-annual-earnings-in-the-uk/

The median annual earnings for full-time employees in the United Kingdom was approximately 31.46 thousand British pounds in 2020

According to: https://www.thesalarycalculator.co.uk/salary.php

£31,460.00 gives a gross weekly salary of £605 or £481 after tax.....

Your ‘average’ person will therefore find sovereigns a bit more expensive these days.....though I guess for a true comparison you would want to see what a Barclays employee gets these days (same job - so clerk or advisor etc. need more info!)

[KRO]

26 minutes ago, AndrewSL76 said:

Sounds like he was saying 4 Sovs were £16. So £4 each. He was earning £8 a week. You would need to be earning £630-660 a week these days.

According to: https://www.statista.com/statistics/1002964/average-full-time-annual-earnings-in-the-uk/

The median annual earnings for full-time employees in the United Kingdom was approximately 31.46 thousand British pounds in 2020

According to: https://www.thesalarycalculator.co.uk/salary.php

£31,460.00 gives a gross weekly salary of £605 or £481 after tax.....

Your ‘average’ person will therefore find sovereigns a bit more expensive these days.....though I guess for a true comparison you would want to see what a Barclays employee gets these days (same job - so clerk or advisor etc. need more info!)

Yes correct £4 each
£8 per week as a junior clerk (don't suppose the job exists anymore, was in the days when banks knew their customers as individuals, and didn't sell ppi, not just a number in a computer)
had to give mother £2 a week for keep😀

[Stacktastic]

Looking promising today.
News on Tuesday from Powell might drop it down further, but it looks good IMO.
I'm hoping it would drop more as its still bearish.

Not the most accurate chart I know.

 

Edited June 21, 2021 by Stacktastic

[GoldDiggerDave]

On 19/06/2021 at 18:31, Spanishsilver said:

Real world skills. Going to be a lot of people sh out of luck. 😆

I’m not old, but amazed at people younger than me and they can’t even do the most basic repairs change a car tyre or cook.  You’re right they will be right out of luck. 

[Midasfrog]

My grandson was only four years old when this thread started 😂 

Wheres Wonger ? 🤣

[Minimalist]

On 24/03/2020 at 19:17, Wonger said:

I now predict that Gold will crash in excess of $1000 from here and it started today, see you at $400-$600 area guys and gals!

Ill be honest… I liked Wonger… I hope hes doing well in the psychiatric hospital.

[Stu]

32 minutes ago, Midasfrog said:

My grandson was only four years old when this thread started 😂 

Wheres Wonger ? 🤣

Wonger no here Mr Man, he be bad man. Perhaps he has a new account with the bazza moniker😁

[SilverStorm]

On 19/06/2021 at 06:55, LawrenceChard said:

Hmmm!

As I expected once I started reading it, there was no total weight quoted, not any mention of the premium. Not very customer friendly.

Why obscure this important information? The usual reason is the seller does not want the buyer to know.

I put the figures into my scratchpad spreadsheet:

Qty	Each	Sub-Total
10	0.125	1.25
10	0.25	2.5
5	0.5	2.5
5	1	5
30	Total	11.25
	$p per gram	56.724
	Intrinsic	638.145
	Price	975
	Ratio	1.52786592
	Premium	52.7865923

So, total weight 11.25 grams (0.36169562 troy ounces).

...and a whopping great 52.79% premium! Now wonder Noble Mint kept quiet about it.

Thats a rip-off premium and price for suckers, IMO.

Sure it might make money, but it's not for us! 🙂

@ChardsCoinandBullionDealer

Here’s a thought…why not create a custom “Chards Prepper Pack,” that is ethically priced and sourced.  I think you’ll do quite well.  😆

[Happypanda88]

All you chaps are being harsh.

Without Mr Wonger, a contrarian from dreamland this thread would have been dull and lacking entertainment value. 😁

Price of gold at the time of writing - £1426 (USD1928).

[dicker]

Wonger was just in it for the trolling, that I am sure.

[LawrenceChard]

5 hours ago, Happypanda88 said:

All you chaps are being harsh.

Without Mr Wonger, a contrarian from dreamland this thread would have been dull and lacking entertainment value. 😁

Price of gold at the time of writing - £1426 (USD1928).

Now £1,444.60 ($1,944.45).

When I saw my name mentioned in this thread, title "The coming Gold crash", I thought "I'm still waiting for it".

😎

[AgCoyote]

On 19/06/2021 at 10:11, GoldDiggerDave said:

The prepping ideal is bonkers. In a economic crash or natural disaster pm’s won’t save anyone. Selling on the back of fear is not a new formula but it’s proven to be successful.  If the worst did happen most would be far better off being fit, healthy and have real world skills.  

 

 

Many would disagree. At the end of Grant Williams's documentary on gold, many of the experts told stories about how gold made a difference in difficult times. It's a way to preserve wealth into a new system or as fiat currencies fail.  People in the UK or US have no recent experience of prolonged and sustained cataclysmic failures of political or economic systems but I tend to think that having bullion is certainly going to have you way ahead of the game should that occur.

Of course it's not the only thing that matters in such a hypothetical, far from it.