Czechs have twice as much gold at home than Czech National Bank

[sixgun]

24 minutes ago, Roy said:

What is this data? I think it's practically impossible to quantify how much gold is held privately.

i quoted the article so the 'official data' comes from that.
Personally i think none of the data can be trusted to be accurate - but it is an interesting topic to discuss and think about. i suspect the amount of gold held by us UK stackers is tiny.  

[Paul]

8 minutes ago, BullionBuyer said:

It makes you wonder how much gold is held in private hands in countries like China and India. 

Its not hard wired into western DNA but is in the far East and india, and places that have lived through hyper inflation (or turkey, pre war Germany) 

The type of hyper inflation we could very easily experience in any safe western war free country anytime soon

[daca]

20 minutes ago, Roy said:

They own gold from the day they are born 😊

In jewellery form.

24 minutes ago, BullionBuyer said:

It makes you wonder how much gold is held in private hands in countries like China and India. 

Thousands and thousands of tons.

Just China's middle class is over 500 millions persons, that is a lot of disposable income.

[BullionBuyer]

28 minutes ago, Roy said:

They own gold from the day they are born 😊

Yes - they redefine gold stacking. Multi-generational stackers!!!!!

[iwanek]

Czech Republic has 10,7 million citizens. 19.35t if gold is 1.8g per head. The ‘data’ doesn’t indicate if it’s bullion or any kind of gold including jewellery. If my calculations are correct a wedding ring should have easily 1g of pure gold.

I’m more surprised that Germany or Italy report less privately owned gold. Germany has 8x more people and 2x less gold. I find this piece of data less likely. 

[Roy]

Yes, I remember seeing pictures of folk queuing up at gold dealers in Germany (or maybe Austria?)

I think they are just quiet about it. Who can blame them?

[Oddjob]

It's an interesting topic to speculate on. The only true correct assumption that can be made in this regard is that anyone in Canada with 1gr or more of Au technically holds / owns more gold their the Canadian Govt. 😆 (Note This may have changed since early 2020, but under Trudeau, I doubt it).

[Gordy]

4 minutes ago, Oddjob said:

It's an interesting topic to speculate on. The only true correct assumption that can be made in this regard is that anyone in Canada with 1gr or more of Au technically holds / owns more gold their the Canadian Govt. 😆 (Note This may have changed since early 2020, but under Trudeau, I doubt it).

strange considering Canada has gold mining but probably owned by the US and shipped out under tunnels on pit ponies

[TommyTwoShots]

I’m off to the Czech rep soon. Anyone know any reduced VAT outlets for silver purchases? I am absolutely NOT going to smuggle a few kg back.

Edited January 30, 2022 by TommyTwoShots

[dikefalos]

15 hours ago, Roy said:

What is this data? I think it's practically impossible to quantify how much gold is held privately.

Do Czechs have to declare their holdings by law?

I think these are nothing more than estimates and most likely inaccurate.

No-one but me knows how much I hold and I'm sure you are all the same!

I would estimate that private gold ownership is very low in the UK- we care too much for other assets. Private gold ownership in Asia is another matter and we know that he who holds the most gold makes the rules.

Nothing funny to add, sorry 😊

They will not have data about any individual and how much gold he owns. But it's pretty simple, to have numbers how much, especially new gold, is going over the counters and is coming into and leaving the country every year. 

[CollectForFun]

16 hours ago, iwanek said:

I’m more surprised that Germany or Italy report less privately owned gold. Germany has 8x more people and 2x less gold. I find this piece of data less likely. 

I think the data suggest that Germans own 9 thousand tons of gold - you probably assumed the coma represents decimal point, i.e. that it was 9 tons only? That really wouldn't be likely.

[iwanek]

8 hours ago, CollectForFun said:

I think the data suggest that Germans own 9 thousand tons of gold - you probably assumed the coma represents decimal point, i.e. that it was 9 tons only? That really wouldn't be likely.

OMG, you are totally correct. Don’t know how I looked at it 😂 this data makes more sense now. However, this would give more than 100g per person, what seems too much. 

[RacerCool]

On 29/01/2022 at 06:39, Happypanda88 said:

So how much do we think is held by private citizens in the UK?

 

I'll say very low, much lower than the french population - perhaps half the amount.

Besides, nearly all of the UK forum members here have suffered at least one tragic boating accident. Otherwise, it could have been slightly more. 😬

We all need to stop going out to sea floating on old patched up inner tubes!

[Centauri167]

On 29/01/2022 at 19:27, Roy said:

What is this data? I think it's practically impossible to quantify how much gold is held privately.

Do Czechs have to declare their holdings by law?

I think these are nothing more than estimates and most likely inaccurate.

No-one but me knows how much I hold and I'm sure you are all the same!

I would estimate that private gold ownership is very low in the UK- we care too much for other assets. Private gold ownership in Asia is another matter and we know that he who holds the most gold makes the rules.

Nothing funny to add, sorry 😊

You are correct, articles as this are all based on figures that have no ground for existing. Estimates with no clear method or research behind them and than big teasers to attract readers.

 

Now the silver squeeze is almost an official failure and with the short revival of the gold price, I see more and more articles that gives you a reason to jump on the gold "hype" train. ( and I am a believer and buyer of gold but I don't see it as a hype and I know that when people who knows nothing of PM's start buying them it will end bad for them and can have also bad effects for us )

[Happypanda88]

19 minutes ago, Centauri167 said:

............I know that when people who knows nothing of PM's start buying them it will end bad for them and can have also bad effects for us )

 

How will those who knows nothing of PMs starts buying can have an impact on collectors and stackers ? 

[Centauri167]

7 hours ago, Happypanda88 said:

 

How will those who knows nothing of PMs starts buying can have an impact on collectors and stackers ? 

By doing irrational things like keeping buying when the price is to high or selling everything when they have a small loss.

With silver they were responsible for the higher premiums that we still have to pay ...

[BarryWoods]

On 29/01/2022 at 13:39, Happypanda88 said:

So how much do we think is held by private citizens in the UK?

 

I'll say very low, much lower than the french population - perhaps half the amount.

Besides, nearly all of the UK forum members here have suffered at least one tragic boating accident. Otherwise, it could have been slightly more. 😬

I'm newish here - can someone please oint me, to the 'boating accident story" 😉 

[Paul]

6 minutes ago, BarryWoods said:

I'm newish here - can someone please oint me, to the 'boating accident story" 😉 

If you've bought your stack with earned/taxed money and you sell for cash at a profit to a fellow stacker for cash

 If authority ever asks, you lost that monster box in a boating accident 

[HerefordBullyun]

Thats nothin swiss @James32 has vaults full of it

[James32]

4 minutes ago, HerefordBullyun said:

Thats nothin swiss @James32 has vaults full of it

I only keep buying because I'm a moron who keeps loosing it🤣

[Roy]

1 hour ago, BarryWoods said:

I'm newish here - can someone please point me, to the 'boating accident story" 😉 

Legend has it...

A member here, we'll just call him Captain Six to protect his identity, once used to own a lot of silver. 

He was attempting to transport his booty from the UK to a more favourable tax free jurisdiction on a leaky boat manned by a rag-tag crew.

Crossing the Bay of Biscay, they encountered a terrific storm that tossed and turned the sailors with vigour and ultimately the hapless seamen was spread all over the deck.

The boat went down. It went down harder than Wonger, allegedly.

As the storm subsided, it appeared only two members of the crew had survived. Captain Six was a strong swimmer, as seamen go, and was often first past the post. He spied Roger, the cabin boy, bobbing up and down, as usual, with a lifebelt around his waist.

Captain Six recalled that he had never been so pleased to see Roger's hoop.

They drifted for days living off rubbish thrown off cruise ships and were eventually picked up by a fishing boat illegally trafficking refugees to Ireland.

The exact location of the sunken boat was never known and the stack was lost for ever.

Tragic.

[Darr3nG]

1 minute ago, Roy said:

It went down harder than Wonger, allegedly.

Legend has it, he go down hard!

[James32]

19 minutes ago, Roy said:

Legend has it...

A member here, we'll just call him Captain Six to protect his identity, once used to own a lot of silver. 

He was attempting to transport his booty from the UK to a more favourable tax free jurisdiction on a leaky boat manned by a rag-tag crew.

Crossing the Bay of Biscay, they encountered a terrific storm that tossed and turned the sailors with vigour and ultimately the hapless seamen was spread all over the deck.

The boat went down. It went down harder than Wonger, allegedly.

As the storm subsided, it appeared only two members of the crew had survived. Captain Six was a strong swimmer, as seamen go, and was often first past the post. He spied Roger, the cabin boy, bobbing up and down, as usual, with a lifebelt around his waist.

Captain Six recalled that he had never been so pleased to see Roger's hoop.

They drifted for days living off rubbish thrown off cruise ships and were eventually picked up by a fishing boat illegally trafficking refugees to Ireland.

The exact location of the sunken boat was never known and the stack was lost for ever.

Tragic.

Same time tomorrow night for page 2?

[HerefordBullyun]

20 minutes ago, Darr3nG said:

Legend has it, he go down hard!

I wonder if hes still shorting gold?

[sovereignsteve]

27 minutes ago, Roy said:

It went down harder than Wonger, allegedly.

 

C'mon @Roy, nobody goes down harder than Wonger, you should know that.

 

25 minutes ago, Darr3nG said:

Legend has it, he go down hard!