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Thanks for the compliment, it's nice to be court jester for a day. Jokes have a serious purpose, which is to cheer people up in times of trouble. "A German joke is no laughing matter," as someone once said. I'm not German, but our brokers are.
Speedy bottom line both can go up and down! We are seeing growth in certain minerals Cipper, cobalt , nickel all valued based on supply and demand, demand is huge with processes required. Gold is very different in its perceived value. As we know and can see with Bitcoin the store of wealth is changing .
Hi Technicals. With most ETFs you own shares in that ETF not the underlying asset. I use ETFs for trading PMs, but for investment i use physical PMs stored at place of purchase. There seems to be a missunderstanding of the role of physical metals as shown Zoros last post. Physical PMs held in storage are very liquid and can be traded back to fiat just as easy as an ETF without the counterparty risks. ATB Speedy
Hi Zoros. I quote "if i control the money i care not who makes the rules". Banks were bailed out with tax payers money, banks that were taken into custody by the gov were mostly sold at a loss. Govs do not set interest rates any more than the Bank of England sets interest rates all they try to do is control rates. Interest rates are set by bond holders demanding more for their money or less when economics decide. Using gold or silver for every day use obviously has to be converted to fiat first. Placing your money in a bank for the last 50 years would have seen your purchasing power almost reduced to zero, by placing it into stored PMs has proven to be immeasurably better and will continue to be. ATB Speedy
What's the benefit of holding physical silver coins over buying an ETF that tracks the silver spot price? Actual physical silver is more costly to buy and to store...sorry for my naivety but what am I missing here?
Must take issue with your comments: During the bank and financial institutions crash of 2008 across the world...governments decided which banks would go under and which would be saved. A good example here is RBS...biggest bank in the country...the government bailed them out and as a consequence it was the government which then directly controlled them thereafter until recently, overseeing their fiscal policies. And again only recently during covid - the government wrote to each of the banks "suggesting" that dividends should be suspended ufn. The same happened in the USA then and now. Greek banks were closed to the public by order of the government and the same in Cyprus. It's not seen or done on face value but surreptitiously behind the scenes. Governments control interest rates, governments control compensation against banks when things go wrong (PPI claims), governments criminalise libor manipulations, it goes on and on. No bank tells their government what to do. Regarding - the practical use of PM's for day to day activities... So you want to go to Tesco tomorrow do you? How do you sell your silver to obtain a currency that is acceptable to Tesco tomorrow then? House sales - the same? I can only presume you use FIAT money as the platform for purchase? Does one honestly expect bill smith the local butcher or hairdresser or painter to buy and sell PM coins? Never going to happen. The absolute nearest any of us will actually get to carrying out successful public transactions in future is through a medium of digital currency controlled via the banks. Remember, one has to carry along all echelons of society if we are to be seen as a civilised and fair society. Copy of the sun, sir - that will be 1/300th of an ounce of silver sir. Oh, nothing less than 1/100th? I'll shave a bit off for you! It's going to be fun............................................
I'll accept (all day long) that PM's is where private investments may well be going though. Stay safe. Z
Hi Zoros. I must put the record straight on your assumptions. The Gov does not control banks, the banks tell the gov what they want and the gov delivers. As for gold or silver being no good for every day people i totally disagree. I have been using stored gold/silver as a bank for over 50 years. If i want to go weekly shopping i sell a coin if i want to buy a house i sell a few coins if i want to buy GGP shares i sell a load of coins. When i sell a house i buy coins and so on. Fairly simple really. ATB Speedy
Roy Jenkins is now remembered as the man who said that the debate on membership of the EEC had been conducted "without rancour on either side." Unfortunately, he had a lisp, and pronounced the letter "r" as "w." The cameraman burst into laughter; but I've not been able to find the clip on Youtube.
I'm sure the office of budget responsibility will be delighted to hear your great views and to know they are speaking *******s LOL
Office for Budget Responsibility @OBR_UK · 50m The tax rises announced in #Budget2021 increase the tax burden to 35 per cent of GDP in 2025-26, its highest level since Roy Jenkins was Chancellor in the late 1960s
Hey Tome I hope you are well WT is for another day, Let's just be happy that people like you & many others who have held GGP for a while will have dodged a bullet on GGP CGT if their holding is not in an Isa & i suspect that will be good news & a relief for many Now here's hoping for us to start rising again soon !!
There was a lot of wealth tax talked about a few weeks ago and it seems to have floated under the bridge or have I missed something ????? Quite a few on here were discussing the proposed WT but nothing has come of it ??