IN GOLD WE TRUSS - How Will the Change of Prime Minister Affect Sterling, Gold, Silver, Precious Metals

[LawrenceChard]

IN GOLD WE TRUSS - How Will the Change of Prime Minister Affect Sterling, Gold, Silver, Precious Metals

(Note capitalisation relevant to subject matter)

There was some discussion on TV news channels yesterday about whether Liz Truss' policies and "Trussonomics" could cause a run on the pound.

Big hedge funds, banks and other speculators almost certainly took short positions recently against the pound sterling.

It seems almost inevitable that British Government policies and actions could and will have big effects on our currency now and over the next few weeks, months and years.

All this may make Precious Metals more attractive as an investment or hedge, particularly gold, because of its low premiums and VAT exempt status of course.

All opinions welcome!

 

Edited September 6, 2022 by LawrenceChard

[GrahamDiamond]

Nothing Will Change

 

[LawrenceChard]

1 minute ago, GrahamDiamond said:

Nothing Will Change

 

Don't bet on it as far as Precious Metal prices are concerned!

😎

[flyingveepixie]

They might introduce VAT & CGT on Gold to make up for tax cuts elsewhere..  I wouldn't put it past them.

[LawrenceChard]

8 minutes ago, flyingveepixie said:

tax cuts

Did you miss an "n" out somewhere?

😎

[GoldDiggerDave]

2 minutes ago, flyingveepixie said:

They might introduce VAT & CGT on Gold to make up for tax cuts elsewhere..  I wouldn't put it past them.

That would be great for holders in the short term as it would mean a 20% secondary market rise over night…….but I do know what you mean mate I’m amazed gold is not subject to VAT……an even more the  inheritance tax free  part, only guessing most people are not clued up, as if you had kids to pass wealth on it would be better to liquidate everything in to gold and give it to them tax free.  Inheritance tax is criminal when you think about it as your assets have been paid by money that’s already been taxed. 

[AurumArgenti]

 

[SidS]

50 minutes ago, LawrenceChard said:

Did you miss an "n" out somewhere?

😎

What 'tanx'? 😉

[Roy]

3 hours ago, LawrenceChard said:

IN GOLD WE TRUSS - How Will the Change of Prime Minister Effect Sterling, Gold, Silver, Precious Metals

All opinions welcome!

 

Effect?

😎

[LawrenceChard]

18 minutes ago, Roy said:

Effect?

😎

Thnkas!

😎

[pricha]

4 hours ago, GoldDiggerDave said:

That would be great for holders in the short term as it would mean a 20% secondary market rise over night…….but I do know what you mean mate I’m amazed gold is not subject to VAT……an even more the  inheritance tax free  part, only guessing most people are not clued up, as if you had kids to pass wealth on it would be better to liquidate everything in to gold and give it to them tax free.  Inheritance tax is criminal when you think about it as your assets have been paid by money that’s already been taxed. 

Not so sure inheritance tax is criminal.  Most people want their grandchildren to grow up in a free and fair society  , they just dont want to pay for it. Every year the gap between the well off and poor is getting huge and its down to if you get a nice inheritance or not regardless of how clever or hard working you are. I know this goes against human nature and people want to see their kids "" alright "" but the society they grow up in is not going to turn out very nice if it continues.  

Edited September 6, 2022 by pricha

[SidS]

We're going backwards it seems - we are heading back to the 1930s, a few more decades and it'll be 1890. Just need some workhouses.

[GoldDiggerDave]

20 minutes ago, SidS said:

We're going backwards it seems - we are heading back to the 1930s, a few more decades and it'll be 1890. Just need some workhouses.

There are work house, you just now pay a mortgage on it and pay for your own heating an lighting….it’s called working from home. 

[GoldDiggerDave]

I’m also looking forward to the first meeting of Truss and Biden…….it should be comedy gold! 

[Paul]

It'll be same chit, different WEF 'ypung leader graduate' taking their orders from Herr shwarb in Davos. 

Green agendas are not going to change. ESG scores for businesss and countries alike will be doubled down on as the chaos continue and gets worse

Look out for no. 1 and your nearest and dearest. The world is a powder keg of chit about to explode into hen summer is over the nights get dark and the weather gets cold 

You can make massive big changes to a society when they are hurting and don't have a pot to urinate in.

The new UK emperor will have new shiny clothes for a few weeks but then it's back to doom n gloom business as usual

 On the flip side 20 tins of tuna added to the food stack today, tins of chick peas, rice and kidney beans to

[LawrenceChard]

9 minutes ago, Paul said:

 On the flip side 20 tins of tuna added to the food stack today, tins of chick peas, rice and kidney beans to

Tuna is know to accumulate heavy metals, so that could be quite appropriate!

😎

[Paul]

7 hours ago, LawrenceChard said:

IN GOLD WE TRUSS - How Will the Change of Prime Minister Affect Sterling, Gold, Silver, Precious Metals

(Note capitalisation relevant to subject matter)

There was some discussion on TV news channels yesterday about whether Liz Truss' policies and "Trussonomics" could cause a run on the pound.

Big hedge funds, banks and other speculators almost certainly took short positions recently against the pound sterling.

It seems almost inevitable that British Government policies and actions could and will have big effects on our currency now and over the next few weeks, months and years.

All this may make Precious Metals more attractive as an investment or hedge, particularly gold, because of its low premiums and VAT exempt status of course.

All opinions welcome!

 

No new PM will come out of the traps with cuts cuts cuts.

Expect the magic money tree to be shook for every bit of freebys and money printing 

Nothing will change 

£100billion towards utility bills, just add it to the unrepayble debt clock already there 

Labour will just keep adding to it next election. Nothing changes 

 

 

[LawrenceChard]

5 minutes ago, Paul said:

No new PM will come out of the traps with cuts cuts cuts.

Expect the magic money tree to be shook for every bit of freebys and money printing 

Nothing will change 

£100billion towards utility bills, just add it to the unrepayble debt clock already there 

Labour will just keep adding to it next election. Nothing changes 

 

plus ça change!

😎

[sixgun]

[Paul]

Keep HODL ing your gold.

Price of sterling has never been as low,

Doubt things will improve any time soon 

 

[Happypanda88]

9 hours ago, Paul said:

Price of sterling has never been as low

You mean like the chart below ?   

How long before the British Pound is in parity with the US Dollar so $1,700/oz equals to £1,700/oz and $2,000/oz becomes £2,000/oz. 

I feel quite smug being out of GBP as much as I possibly could. 😎

 

 

[flyingveepixie]

12 hours ago, Paul said:

£100billion towards utility bills, just add it to the unrepayble debt clock already there 

I can't quite get my head around this.  Is it just more money printing..??   Someone told me it was going to be paid for by issuing more government bonds like they did after WWII.   Is it just piling debt on top of debt again, as with furlough..?     Wont it just drive inflation further and force them to raise interest rates again..? 

Edited September 7, 2022 by flyingveepixie

[SidS]

42 minutes ago, flyingveepixie said:

I can't quite get my head around this.  Is it just more money printing..??   Someone told me it was going to be paid for by issuing more government bonds like they did after WWII.   Is it just piling debt on top of debt again, as with furlough..?     Wont it just drive inflation further and force them to raise interest rates again..? 

At worst it's part of the Great Reset and they want to crash it all.

At best, they fail to understand the root cause of inflation: increased supply of currency (in whatever form it takes) + increased velocity. It's not that complicated.

The Keynesians and Modern Monetary Theorists come out with really complex models, full of bull scat figures and have confused themselves.

All this nonsense about the inflation index which is so rigged to play down real inflation has been done for so long, that you have a generation of politicians and financial people who think it's real, or who know it's a partial con but have lost sight of where they think truth leaves reality.

In truth, the whole system is stuffed. We know it, I'm not sure they do.

I hear of price controls now. I predicted this would be their next move. To my knowledge, price controls and freezes just don't work. People will simply go out of business first, e.g. landlords will quit in droves if rents are fixed as they propose in Scotland.

It didn't work for Diocletian, it didn't work for the Jacobins and it didn't work for Richard Nixon.

But oh yeah, "it's different this time."

[Pilgrim]

4 hours ago, SidS said:

At worst it's part of the Great Reset and they want to crash it all.

At best, they fail to understand the root cause of inflation: increased supply of currency (in whatever form it takes) + increased velocity. It's not that complicated.

The Keynesians and Modern Monetary Theorists come out with really complex models, full of bull scat figures and have confused themselves.

All this nonsense about the inflation index which is so rigged to play down real inflation has been done for so long, that you have a generation of politicians and financial people who think it's real, or who know it's a partial con but have lost sight of where they think truth leaves reality.

In truth, the whole system is stuffed. We know it, I'm not sure they do.

I hear of price controls now. I predicted this would be their next move. To my knowledge, price controls and freezes just don't work. People will simply go out of business first, e.g. landlords will quit in droves if rents are fixed as they propose in Scotland.

It didn't work for Diocletian, it didn't work for the Jacobins and it didn't work for Richard Nixon.

But oh yeah, "it's different this time."

"trust the science" what could go wrong? 🤣

[Happypanda88]

New PM and Chucky Killer Doll.  Which one is which again ?  😅