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  #1001  
Old 26.08.2015, 13:32
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Re: Gold Buying

Yes, Greece has that scheme. Cyprus too. So does France, Italy and the UK.

The guarantee is only as good as the guarantor. Most of these schemes claim to guarantee your deposit but if you look how much money they hold, it doesn't even cover a single-digit percentage of total deposits, in effect making it useless for a systemic bank run.

Those are only good if one bank goes bust in times of the economy going well. For example if the Co-Op bank in the UK tomorrow bites the bullet, then this scheme will cover everyone.

If there's a new crisis and depositors lose confidence in the UK banks and a bank run starts happening, then those schemes won't even cover the bus fare for everyone that runs to the bank.

Gold is money, pure and simple. No counterparty involved. Of course it has its own disadvantages: storage costs, no dividends, no growth etc but there is a bear market coming and whatever money could be made from the stock exchange are already made. The new crisis that is coming will dwarf the one of 2008.

You'd want to have at least some gold when that happens.
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  #1002  
Old 26.08.2015, 14:01
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Re: Gold Buying

FINMA proposed essentially the same two years ago as what was accepted in Brisbane by the G-20 last november. I'm not up to date on the status, but this paper (english version, german) was developed in close teamwork with authorities of the USA and UK, so it seems reasonable to assume that what applies to G-20 also applies to CH.
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  #1003  
Old 21.09.2015, 17:24
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Re: Gold Buying

An interesting report from Koos Jansen of how the UK and other countries differentiate between Monetary and Non-monetary Gold and how this enables countries to hide the movement of Monetary Gold.

The London Bullion Market And International Gold Trade
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  #1004  
Old 21.09.2015, 17:55
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Re: Gold Buying

«Russian Central Banker Highlights Gold Manipulation»

(Of course, I disagree with Nathan McDonald's judgment that eastern countries are "not completely innocent" for their "actively attempting to displace the US dollar from the throne it currently sits upon" — as if only the dollar has a moral right to be the world's reserve currency. Forever.)
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  #1005  
Old 29.09.2015, 19:59
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Re: Gold Buying

UBS Is About To Blow The Cover On A Massive Gold-Rigging Scandal

Excerpt:
[U]nlike previous gold probe cases, this one will actually have consequences.

How do we know?

Because just like in LIBOR-gate, just like in FX-gate, it is the biggest rat of all, Swiss megabank UBS, that is about to turn on its former criminal peers.

As Bloomberg reported earlier "UBS was granted conditional leniency in Swiss antitrust probe of possible manipulation of precious metal prices, a person with knowledge of the matter said."

Bloomberg adds that the "bank may face lower fine than six other banks and financial firms suspected in probe or may avoid penalty altogether, person says."
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  #1006  
Old 01.10.2015, 14:53
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Re: Gold Buying

I agree with your comment. I did some research about precious metals so I can add these points:

A bank will sell you gold worth 5.000CHF without asking for any id.

A gold dealer will sell you gold worth 25.000CHF/year without asking for a id.

degussa-goldhandel has bigger gold bars than geiger.

The smaller the gold bar or gold coin the higher the premium you pay. So buy bigger amounts to get more "gold for your buck"

There is 8% tax on silver. But not if you leave it in a bonded warehouse.



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I disagree.
At the moment the entire financial edifice of our interconnected world is cracking and breaking.
This means that all assets that by essence rely on a counterparty, carry an inherent risk of default by said counterparty.
Laws passed recently in many European countries event put a question mark over the counterparty risk on regular vanilla bank accounts.
Funds in these accounts are treated now as unsecured loans to the bank. So if said bank goes bust, your money is also kaput.

Physical assets, with natural no counterparty risk thus enjoy a growing advantage. Re, metals, think carefully about storage.

Some facts I learnt about precious metals investing in Switzerland.
-Silver purchases incure 8% MwSt, while gold does not.
-Spot prices + a production premium are the basis for physical metal pricing.
Often this is adjsuted at the minute of making the purchase.
-Expect about a 2% spread at least between buy and sell prices.

Gieger is a good place for physical purchases.

XE is a good place online for real time currency and precious metals exchange rates. Also has SDR and BTC crosses!
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  #1007  
Old 01.10.2015, 19:23
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Re: Gold Buying

Glencore to sell 1bn$ worth of Gold and Silver production from its mines on huge discount, to reduce debt.
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  #1008  
Old 01.10.2015, 19:27
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Re: Gold Buying

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Glencore to sell 1bn$ worth of Gold and Silver production from its mines on huge discount, to reduce debt.
Why not just sell in the market?
20 times that get traded in London on a daily basis, it's not a difficult trade to offload.
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  #1009  
Old 01.10.2015, 20:55
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Re: Gold Buying

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Why not just sell in the market?
20 times that get traded in London on a daily basis, it's not a difficult trade to offload.
I suppose. they are selling futures with the added risk they may never dig it up ?
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  #1010  
Old 02.10.2015, 21:52
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Re: Gold Buying

I think they are selling FUTURE production for immediate cash. There's always a risk they might not exist tomorrow so whoever is buying needs to get something out of it.
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  #1011  
Old 09.10.2015, 17:00
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Re: Gold Buying

Economic Policy Journal: «Germany May Set Off a Run on the Gold Stored at the New York Federal Reserve»
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  #1012  
Old 09.10.2015, 18:26
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Re: Gold Buying

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Economic Policy Journal: «Germany May Set Off a Run on the Gold Stored at the New York Federal Reserve»
2 days age the Bundersnabk released a list showing the identification no's of ever piece of gold they own.

http://www.bundesbank.de/Redaktion/E...ublicationFile
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  #1013  
Old 09.10.2015, 19:01
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Re: Gold Buying

Pages and pages of posts.

Anyone think of this? Carrying gold is a bugger.

When the zombies come, and trust me they will, then survival kits, not gold.

Omg.
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  #1014  
Old 09.10.2015, 19:16
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Re: Gold Buying

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Pages and pages of posts.

Anyone think of this? Carrying gold is a bugger.

When the zombies come, and trust me they will, then survival kits, not gold.

Omg.
If you have gold, and you are serious about it, you will need lead, steal and brass as well. The former in form of bullions the later in form of bullets. Perfectly prepared.
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  #1015  
Old 09.10.2015, 20:48
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Re: Gold Buying

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2 days age the Bundersnabk released a list showing the identification no's of ever piece of gold they own.

http://www.bundesbank.de/Redaktion/E...ublicationFile
I see nothing there about any physical verification — it's all on paper, which today means nothing.
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  #1016  
Old 09.10.2015, 21:38
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Re: Gold Buying

In the article is written "There's no way for Germany to know that the gold it is being shown is Germany's"
But surely the German gold bars are stamped with the relevant German markings?
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  #1017  
Old 09.10.2015, 22:54
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Re: Gold Buying

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in the article is written "there's no way for germany to know that the gold it is being shown is germany's"
but surely the german gold bars are stamped with the relevant german markings?


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  #1018  
Old 14.10.2015, 22:56
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Re: Gold Buying

Price is creeping up towards $1,200 again; price seems to be stubbornly resistant to the collapse that was widely forecast a couple of years ago
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  #1019  
Old 14.10.2015, 23:02
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Re: Gold Buying

Don't buy it, I think there's going to be another spike down even if temporarily.
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  #1020  
Old 14.10.2015, 23:05
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Re: Gold Buying

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Price is creeping up towards $1,200 again; price seems to be stubbornly resistant to the collapse that was widely forecast a couple of years ago
It's risen because US interest rates were supposed to rise, so holding gold is marginally more attractive than a month ago, as a direct result the USD is weaker so not really a surprise. No sign of inflation, so no real reason to hold gold.
Gold is still significantly lower than 5 years ago & a little bit higher than when this thread started.

Swiss price 5 years ago 44975.84 Ouch, however Euro & GBP investors are just in profit.
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