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20.12.2015, 23:07
|  | Forum Veteran | | Join Date: Mar 2014 Location: Zug
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| | Re: Gold Buying | Quote: | |  | | | All a safe does is takes the robbers a few more hours. The safe at work has a 1,000,000 overnight rating, it weighs 1 ton. It could be opened in under 12 hours if someone really wanted to. | | | | | Compared to the magnificent security of an online trading account for example or the e-banking of your bank? Both have been hacked multiple times in the last years.
It's more likely your bank gets hacked than robbers coming to crack your safe lol. These crazy arguments start to become very amusing.
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21.12.2015, 12:43
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| | Re: Gold Buying
Update on the status of the "repatriation-effort" of the German Bundesbank-gold in the US: http://www.spiegel.de/wirtschaft/soz...a-1068861.html
"Only 300 (of more than 1500) tonnes will be repatriated from the US in the end".
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23.12.2015, 08:08
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| | Re: Gold Buying | Quote: | |  | | | | | | | | One should not forget that Germany is an occupied country!!
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23.12.2015, 21:11
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| | Re: Gold Buying | 
23.12.2015, 23:59
|  | Forum Legend | | Join Date: Oct 2009 Location: Baselland
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| | Re: Gold Buying
it will be interesting to see how the gold price responds to the next fed hike. assuming of course if the fed hikes on a schedule that everyone thinks they will...
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24.12.2015, 00:09
|  | Forum Legend | | Join Date: Oct 2009 Location: Baselland
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| | Re: Gold Buying
time to put down your markers: Gold price prediction | This user would like to thank Phil_MCR for this useful post: | | 
24.12.2015, 15:34
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| | Re: Gold Buying | Quote: | |  | | | All a safe does is takes the robbers a few more hours. The safe at work has a 1,000,000 overnight rating, it weighs 1 ton. It could be opened in under 12 hours if someone really wanted to. | | | | | OK on that. I worked in an embassy when they switched from mechanical to electronic safe locks. (I still have a VHS promotional tape from the manufacturer: "Nothing can go wrong ... nothing can go wrong ..." Like the old joke about the broken-record loudspeaker announcement on the first self-piloting airplane flight.)
Suffice to say, something did go wrong and the safe would not open. The embassy called in a tech security guy from the ministry back home and he opened it in minutes: apparently he knew just where to drill and what to do.
I had a key-operated floor safe in a former house and it somehow locked itself. It took the locksmith who sold it to us minutes to get it open.
But in the case of the Rondo the burglars will first have to find it. It's a demolition job with very little room to work in. And in the end, for a couple of ounces of gold (bought in 1961, so cheap) and some inherited jewelry not worth the trouble. If they know that in advance.
(True, a gang of thieves thought to be from Eastern Europe broke into the basement storage rooms of our building once. But our safe isn't there: mostly stuff brought over from Costco and bought in gross lots.)
If I had valuable stuff I'd install Internet-linked cameras and an app on my iPhone to beep upon a break-in.
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24.12.2015, 18:14
|  | Forum Legend | | Join Date: Apr 2010 Location: Verbier
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| | Re: Gold Buying | Quote: | |  | | | OK on that. I worked in an embassy when they switched from mechanical to electronic safe locks. (I still have a VHS promotional tape from the manufacturer: "Nothing can go wrong ... nothing can go wrong ..." Like the old joke about the broken-record loudspeaker announcement on the first self-piloting airplane flight.)
Suffice to say, something did go wrong and the safe would not open. The embassy called in a tech security guy from the ministry back home and he opened it in minutes: apparently he knew just where to drill and what to do.
I had a key-operated floor safe in a former house and it somehow locked itself. It took the locksmith who sold it to us minutes to get it open.
But in the case of the Rondo the burglars will first have to find it. It's a demolition job with very little room to work in. And in the end, for a couple of ounces of gold (bought in 1961, so cheap) and some inherited jewelry not worth the trouble. If they know that in advance.
(True, a gang of thieves thought to be from Eastern Europe broke into the basement storage rooms of our building once. But our safe isn't there: mostly stuff brought over from Costco and bought in gross lots.)
If I had valuable stuff I'd install Internet-linked cameras and an app on my iPhone to beep upon a break-in. | | | | | Yes the 1 million CHF overnight rated safe at work was made in 1973 & has got drill marks, so it has been opened in the past. It's dual combination & key.
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24.12.2015, 21:30
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| | Re: Gold Buying | Quote: | |  | | | Yes the 1 million CHF overnight rated safe at work was made in 1973 & has got drill marks, so it has been opened in the past. It's dual combination & key. | | | | | I thought you were retired on a Mediterranean Island?
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25.12.2015, 10:02
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| | Re: Gold Buying | Quote: | |  | | | I thought you were retired on a Mediterranean Island? | | | | | So did I, however I have done a few days here & there. As the only person who knew the combination it was inevitable I would get a call | This user would like to thank fatmanfilms for this useful post: | | 
28.12.2015, 23:43
|  | Forum Veteran | | Join Date: Aug 2006 Location: Zurich
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| | Re: Gold Buying
I've read the last 3 pages of this thread and dear me, the tinfoil hattery is approaching the looney bin levels of zerohedge.
FWIW I'm stocked on guns, bullets and canned peaches so I await the collapse of the western civilization well prepared.
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29.12.2015, 00:16
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| | Re: Gold Buying
Are those cans gold plated?
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07.02.2016, 21:32
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| | Re: Gold Buying
Gold price (in US$) is creeping up back towards 1,200!
Daily Telegraph is forecasting a major worldwide recession
Certainly it seems the central banks are all moving towards ever more negative interest rates. Maybe even the Fed will have to reverse course
A number of major countries seem to be sliding downwards economically including most the South American countries plus Japan, Russia, Turkey and Saudi Arabia - it is claimed that even China is burning around 100Bn US$ monthly from their reserves.
EU is also not looking financially healthy.
Switzerland is looking OK so far but if we burn the EU bilaterals then who knows where next?
Anybody know a good source for canned peaches?
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07.02.2016, 21:34
|  | Forum Veteran | | Join Date: Mar 2014 Location: Zug
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| | Re: Gold Buying
So buy some gold for insurance  (a 10% diversification)
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08.02.2016, 21:57
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| | Re: Gold Buying | Quote: | |  | | | Gold price (in US$) is creeping up back towards 1,200!
Daily Telegraph is forecasting a major worldwide recession 
Certainly it seems the central banks are all moving towards ever more negative interest rates. Maybe even the Fed will have to reverse course 
A number of major countries seem to be sliding downwards economically including most the South American countries plus Japan, Russia, Turkey and Saudi Arabia - it is claimed that even China is burning around 100Bn US$ monthly from their reserves.
EU is also not looking financially healthy. 
Switzerland is looking OK so far but if we burn the EU bilaterals then who knows where next?
Anybody know a good source for canned peaches? | | | | | Was over 1200 today for a short time!
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12.02.2016, 09:49
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| | Re: Gold Buying
Gold is up almost 20% from last year's lows, so with perfect 20/20 hindsight it would've been a good trade!
Then again it is still down 35% from the 2011 highs, so with a bit less of hindsight it would've been a bad trade...
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13.02.2016, 11:03
|  | Junior Member | | Join Date: Mar 2013 Location: Geneva
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| | Re: Gold Buying
The world history of paper money is virtually 100% loss. Almost every paper currency which ever existed became worthless at some point, and stayed there. The few currencies which circulate today have lost 70% to 99% of their original buying power. They are on a road to zero. The USA has defaulted 3 times, twice in the last 100 years.
Since the beginning of time, man has been able to buy something of value using gold. That's as true today, as it ever was. Even the world's biggest dis-believer in the value of gold would take my gold in exchange for something valuable if he thought it was a good trade.
50, 100, 1'000 or 10'000 years ago an ounce of gold would buy you a lot of bread, beer, girls or paper currency. That's as true today as it ever was. Try buying any of those things with German ReichMarks, Confederate Dollars, or any of the thousands of expired currencies.
The worlds longest surviving currencies, the US dollar, the Pound Sterling and the Netherlands guilder (now converted to euros), Indian Rupee and Japanese Yen are worth but a tiny fraction of their original value.
Try spending bank notes printed in 1970 from virtually country on the planet. At best you will get the value as a collectors item, usually far less than they were worth at the time. Currencies like the Yougoslav Dinar, Zimbabwe dollar, Brazil cruzado, Albanian lek, Serbian dinar, Latvia ruble, Oman rial, Argentine peso, Russian ruble, Bahrain dinar, Peru inti, and hundreds more have become worthless in the last 50 years.
I'm off to dig a big hole in my garden to bury my Vrenelis, Pandas, Sovereigns, and Krugerrands. I think if the sh*t hits the fan I will still be able to barter the gold for beer, bread, and all the other things a man needs.
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13.02.2016, 17:15
|  | Forum Legend | | Join Date: Apr 2010 Location: Verbier
Posts: 21,365
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| | Re: Gold Buying | Quote: | |  | | | The world history of paper money is virtually 100% loss. Almost every paper currency which ever existed became worthless at some point, and stayed there. The few currencies which circulate today have lost 70% to 99% of their original buying power. They are on a road to zero. The USA has defaulted 3 times, twice in the last 100 years.
Since the beginning of time, man has been able to buy something of value using gold. That's as true today, as it ever was. Even the world's biggest dis-believer in the value of gold would take my gold in exchange for something valuable if he thought it was a good trade.
50, 100, 1'000 or 10'000 years ago an ounce of gold would buy you a lot of bread, beer, girls or paper currency. That's as true today as it ever was. Try buying any of those things with German ReichMarks, Confederate Dollars, or any of the thousands of expired currencies.
The worlds longest surviving currencies, the US dollar, the Pound Sterling and the Netherlands guilder (now converted to euros), Indian Rupee and Japanese Yen are worth but a tiny fraction of their original value.
Try spending bank notes printed in 1970 from virtually country on the planet. At best you will get the value as a collectors item, usually far less than they were worth at the time. Currencies like the Yougoslav Dinar, Zimbabwe dollar, Brazil cruzado, Albanian lek, Serbian dinar, Latvia ruble, Oman rial, Argentine peso, Russian ruble, Bahrain dinar, Peru inti, and hundreds more have become worthless in the last 50 years.
I'm off to dig a big hole in my garden to bury my Vrenelis, Pandas, Sovereigns, and Krugerrands. I think if the sh*t hits the fan I will still be able to barter the gold for beer, bread, and all the other things a man needs. | | | | | So don't hold cash, hold stocks rather than gold.
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13.02.2016, 17:32
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| | Re: Gold Buying | Quote: | |  | | | So don't hold cash, hold stocks rather than gold. | | | | | Last time I looked the stock markets were in free fall. | This user would like to thank spalebärg for this useful post: | |
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