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Hi, Jet.
Very interesting first paragraph.
And I like the proverb in para 2. You don't often hear proverbs now; but they contain a lot of truth. The only problem is, sometimes they contradict each other. So one has to decide which one applies to the present moment. Is it "act in haste, repent at leisure," or "a stitch in time saves nine?"
Actually, I think people have been selling GGP not in haste, nor even from boredom (though there's an element of that); but simply to diversify their portfolio. I asked myself a simple question, "do I really wish to have 100% of my capital in GGP?" and the answer came back, "No." Obviously, I should have taken this decision in December or January, rather than April and May. But to err is human, and I don't claim to be a second George Soros.
Jet - Brill post; and soooo true about not being a rainbow chaser. We have gold in the ground and it's going to mined.
Cheers StellaBob
"to free Africa of its 'currency' yoke" DUH!
Speedy: I worked in Libya during the American bombing of Tripoli, Lockerbie and sanctions. IMO what happened to Gaddafi was because of his wish to establish a pan-African currency based on the Golden Libyan Dinar with the 140 odd tons of gold and like amount of silver in his vaults to free Africa of it's 'currency' yoke, usurping France in power. The two-faced French President took offence. He agreed to the bombing but refused to let the US fly over French air space, which is why, on the second (secret) day of the bombing the last US jet bombing run took out the back garden brick wall of the French Ambassador's residence. Add in the US and soured relations and expediency over hidden UK/Libya deals about who to blame for Lockerbie while not wanting to confront Syria and Iran for being responsible for it, and bingo, one dead dictator.
ANYHOO, back to GGP. As far as GGP investors following other posters into other shares, I would advise caution. It's easy to get bored in the quiet periods while waiting for the next news and think, 'oh, I must rush into this other share'. But 'Act in haste, Repent at Leisure' so, as always, Do Your Own Research and take your time about investing.
Remember, GGP is de-risked. The gold's proven to be in the ground and nothing's going to stop Newcrest from getting it out.
ATB:))
Cheers Speedy
Glad I only bought 7kgs then ! Will use as door stops and paperweights for now - will keep the gold brits safely stored from the Wife's clutches Thanks again
Morning Speedy. Gold radio (no reference to us) has started airing commercials for companies wanting to buy gold via the post - a sure sign that the gold market is hotting-up! I've a got a toe-hold in Silver shares nothing like here with GGP - I think they should go exploring for Silver - as that is going to really rocket... IMO.
Cheers StellaBob
Hi Sporty. When purchasing silver Brits (I have many) i always use a bonded store at place of purchase. No VAT unless you take delivery. As with any investment tax avoidance is a better than "donating" to HMRC. Presently premiums on silver Brits make purchasing painful, for exposure to silver a position with PSLV in an ISA is cost effective and safe. ATB Speedy
Many thanks Speedie - not selling yet - just intel purposes
As you pay vat on the silver brits and bars - do you charge vat back to the dealer on them and include in your vat return (if bought via your business) or if bought personally I assume it's dead money unless silver appreciates more than 20 per cent before a resale ?
Many thanks for replying
GLA
Sporty
Hi katenip. Gold is used as a means of exchange in many places around the world including India, china, Australia. Gaddafi wanted to trade in gold "look what happened to him" Unfortunately western civilians do not understand gold and are encouraged not to use it, this is starting to change. 1 gold Brit for 2 weeks work for a skilled tradesman will do nicely. ATB Speedy
Hi Sporty. Answering your question is akin to "how long is a piece of string". Buyback price depends on many factors, trending up/down, supply demand,sentiment in the market, individual dealers position. Dealers want your Britannias at the moment and 1.5% or 2% can be achieved with a bit of negotiating. If anyone here wants to sell gold/silver Britannias i am willing to give 2.5% over spot for mint gold/silver Brits and and a bit more for Sovs. I must say it is a bit silly selling at the moment but some people have to for personal reasons. ATB Speedy
and good anonymous means of exchange once we are all bullied into cashless society
Speedie - can I ask a quick question please about when the need arises to sell some bullion - I remember you advised not to accept the spot price for AU or AG - what is your rule of thumb please - many thanks in advance Sporty
Hi Red. I agree with your "keep it GGP post". However a quick punt yesterday and out today netted a few £ and is about to be ploughed back here. ATB Speedy
Agree to some extent with Bablake and Tymers - “don’t push your luck” comes to mind, but in fairness any Lther can do what they want as long as the GGP Board remains about GGP and any unassociated information is posted on the unassociated Board. There is enough news here and yet to come about GGP to wade through and unfair to have to be sidetracked by news on other shares?
Blablake. Strange how some think the Grass is Greener, we are sitting here with an sp at bargain basement and some lth think they can make a quick buck elsewhere, will they ever learn?
Tymers, I agree.
I just hope those who have recently joined in don't get their fingers burnt all because they listened to LTH's, most of whom were lucky enough to enjoy the rise with GGP and consider themselves pro's!
its like a set up conversation to promote another share , 2 days of it now
Good luck to us both Fr4ky. I tipped my sons friend Gimme on the GGP share about 3 years ago, and he is now over 1/2 a million in profit. And we are still goodmates.
Thanks Speedy, you do not know it yet, but even though I am old enough to be yer Dad , I shall be reserving you as my AU investment consultant for a year or two yet..
See you next week with 3 glasses ( flutes ) on the table.
Luv - Tig
Hi Tig. My "incredibly portentious predictions" are derived from inability to conform to the rules, death and taxes!!!!!! only death for me. When people wake up to the fact that wealth can be stored and wealth gained without paying tax via coin on the realm, Britannias and Sovereigns, the new highs in the POG will be multiples of todays fix. ATB Speedy
Many GGPers have moved to MTR, personally not for me small trades low volume anything over a small punt is risk on spike
Hey Tiggerman, I have also invested in MTR this morning. Although I am paying 18% more than 2 days ago but think it will be worth it. I must say i have seen the chat BB and can see the GGP regulars there too so that fills me with enough confidence.
60% of my portfolio is in GGP but it's nice to add a little where you can.
Good morning The fierce one. Thanks. I have some very good friends on this BB who have convinced me that MTR has a great future.
I do not know where you reside - but Wed 26th May, The Stag on the River at Godalming , Surrey - Nr Guildford - there will be about 20 GGPers sharing a pint . - join us if you so wish. Our first lockdown breakout for a year.
Tig
Tigg
We aren’t acquainted as yet but wanted to say welcome to the MTR board
........to move relentlously northwards............
If it carries on like this , I will start to read some of Speedy's incredibly portentious predictions on AU / AG.......
That and Bamps analytical geological hole paintings
It is all to much to absorb.
The future looks bright.
Tig