Member Info for speedymeadie

Hi Jerry. He was distracted and dreaming about the interviewer. ATB Speedy

Hi All. Shares on loan have increased 4 million in a week. The shorts are still in control and nothing will change until really great news blows them away and we have lots of news coming. ATB Speedy

Hi Ben. Keep the faith. ATB Speedy

Hi Panama. Not new news for me. Gold has been rising exponentially for thousands of years. Inflation is a play on words to detract from the reasons for increased prices. The main reason is currency debasement. Since 1971(end of gold standard) fiat has lost (on average) 97% of its purchasing power compared to gold. There is no profit (just wealth preservation) to be had (unless you trade) from this assumed rise in the POG. The profits will be made for holders of gold and the miners when the paper markets fold and true supply and demand market takes over. There is no point in giving that thieving cabal called HMRC any of your hard earned profits, make sure you hold your mining stock in an ISA and your gold/silver in Britts. ATB Speedy

Hi Dipp. Sad news indeed. This is why life must be lived to the full.
I asked the creator for all things so i might enjoy life.
I was given life so i might enjoy all things.
ATB Speedy

Hi Trippy. I am afraid you are wrong. Gains from the increase in the POG in your Tally acct is liable for CGT. I suggest you look into this in more detail as you could be building a large tax problem. ATB Speedy

Hi Kenco. When the POG rises will you have to pay tax on those gains in your Tally account? In my view all these gold backed accounts are mostly a waste of time and money. Purchasing Britts and storing at place of purchase is tax free and are instantly liquid, funds will arrive in your acct almost instantly when selling. ATB Speedy

Hi Blue toff. You are correct, i have stopped recommending The Pure Gold Co due to a bad experience. A deal was done to resell at a certain percentage above spot on 200 gold Brits. When arranging the sale they reneged on the deal and only after a long negotiating process did they up their offer but still under the promised %. The difference was not life changing but it leaves a bitter taste and, as stated in a earlier post, long trading goodwill can vanish in an instant. ATB Speedy

Hi Monty. One Britt is the same as another. If you want to look at your gold buy one and take delivery, but for serious holders storage is a must. The cost of insuring gold coins at home is very high whilst storing with insurance in a recognized vault is peanuts. Using storage the coins are instantly liquid if you want to sell. if you have taken delivery selling is much more complicated and time consuming. ATB Speedy

Hi Bellers. There was a case some time ago where a major bank was charging customers for the gold and charging them for storage. Unfortunately the bank done neither and was severely punished, so yes it has happened. By using a long time reputable dealer such as Chards or Atkinsons for purchasing and storage those worries are gone. It would only take 1 instance and 100 years of trading goodwill would be wiped out. ATB Speedy

Hi pernickety. For small to medium sized purchases (up to 100) Atkinsons or Chards are the best. They are reliable. Please do not take delivery, pay the storage/insurance fee (approx0.5%/yr). This keeps the coins in good delivery status and avoids any worries about keeping gold "under the mattress". Most online dealers including The Royal Mint charge excessive premiums and offer a poor buy back price. For the feel good factor a visit to Sharps Pixley and then tea at the Ritz is excellent. For larger purchases i use Matterhorn Asset Management in Zurich ATB Speedy

Hi Tymers. That 400oz/12.5kilo bar will cost you around 45% tax on profits when sold. Next time try Britts, no tax, no vat, no problem. Speedy

Hi All. So is GGP. ATB Speedy

Hi All. Take advantage of this false/forced $60/oz correction to load up on physical gold. At the moment Charlies are silly cheap. ATB Speedy

Hi All. If anyone needs proof of the USAs $ decline here is a list (not comprehensive)of countries ditching the $ for trade purposes. China, Russia, India, Saudi Arabia, Turkey, Iran, Syria, UAE, Egypt, Argentina, Mexico, Brazil, Indonesia, Nigeria, Thailand, Afghan, Khazac, Nicaragua, Algeria and even France has sold LPG not using the $. The $ is toast and gold will be in such demand that large quantities will not be available until much, much higher prices are achieved. This bull run is just getting started. ATB Speedy

Hi MagnumPI. JPM are the best traders around and have the clout to move markets any way they want. As for Newmont building a 30% stake under the radar via JPM that is stretching it a bit. Do you really think Newmont will turn around soon and say "look guys we have 30% of GGP". I think not. ATB Speedy

Hi CharlesRyder. More and more traders on COMEX are standing for physical delivery and the liquidity providers are not willing to provide large orders of physical at these prices. The only way the shorts can cover is closing out higher and out of the money. There is approx $400billion of derivatives in paper god in the market and i suspect a squeeze is on. ATB Speedy

Hi Ace. No email in my box from you. I will call you around 6PM. ATB Speedy

Hi Charles Ryder. Something terrible has already happened ages ago. The world is just waking up to how bad it really is. I hold physical gold and it is not available to the market at these relatively low prices. Many large holders of physical gold are not willing to provide liquidity at these prices so the price rises to entice sellers. Mine will not be available, in any size, for the foreseeable future. ATB Speedy

Hi Ginger. What you say is all correct, however, you stated $1000/gramm and obviously meant $1000/oz. ATB Speedy