Member Info for speedymeadie

Hi Bunky. It is not a question of when fiat collapses against gold, it already has. When you look at the purchasing power of gold against $£ since 1970s fiat has collapsed 98%. Only another 100% and gold in $ terms goes to infinity. There are only a very few assets that have increased as much and the main one is residential owner occupied housing. The problem with that is when you sell and realize your gains you need another home to live in. Your friend not selling his gold to buy a home is probably not looking at the value deterioration in the purchasing power of his £s.
I have been extolling the virtues of physical gold on this BB for several years now, and have been ridiculed for it. My buying of Britts over the last 3 years are now looking favourable, $1200 to $2000/oz and the bull run has only just started. If you do not yet own physical gold it is fast approaching a "if only moment". ATB Speedy

Hi All. Gold has the biggest moves to the down side and a slow grind up. This is mainly due to the bullion banks and central banks shorting to keep the price in check. This stupid war in Ukraine is only a small part of golds rise. We can expect a sharp rise (several hundred $s maybe $1000) when the banks lose control and gold replaces fiat. In my opinion we will see $8k/oz in the not too distant future. ATB Speedy

Hi Panama. Only £1? ATB Speedy

Hi All. Gold is beginning a massive bull run. The reasons for this are many. The one to watch is silver, JPM are long physical silver in a huge way and i fully expect AG to outperform AU. Silver Brits can be purchased VAT and CGT free if you store them at place of purchase in a bonded store. Premiums are high but over time that will seem insignificant as silver races away above $100/oz. My short term target for gold ($2000/oz) is well within reach with a target of $2300 sometime this year on the way to $8000/oz in the not too distant future. The effect the POG and CU will have on GGP is off the scale. If the criminals that run the markets want my GGP stock, £1.44p will be way to low in 2 years time. ATB Speedy

Hi Matty. If that is the case the SP will start to recover. Last chance to top up? ATB Speedy

Hi All. It is important to fully understand what is going on here. JPM, and i suspect Blackrock, are shorting the SP down and at the same time loading up with cheap stock. JPM done exactly the same in the PMs market (short paper whilst buying physical). These boys are way ahead in the game and will earn from the short position and then let it rip to the upside. I see no involvement from NCM, this is just the big boys earning their poo money. I see no threat (yet) for a low ball buyout. My stock is available for £1. 44, come on Jamie you know you want them. ATB Speedy

Nothing to add

Hi Sandgrounded. The fed and nearly all central banks are in queer street. They must be seen to be opposing inflation by raising rates a few points, but to beat this "intentional" inflation surge they must have rates above inflation and that is not going to happen for obvious reasons. Therefore we will remain in negative rate territory for a long time, good for gold. The drivers for the POG are many but the main one is currency debasement and that is going off the scale. Low inflation does not drive up the POG but high/hyper inflation makes it soar. The biggest rise will come when the manipulation ends and that will only happen when the fed throws in the towel or gets knocked out. Inflation is happening because the fed/central banks need to inflate away the debt pile, when citizens, who will be footing the bill, realize this i see major civil unrest as is happening now. We are in scary times and physical gold, family and close friends will be needed. Or maybe John Lennons dream may come true. ATB Speedy

Hi All. I have stated on here many times that those wishing for a higher POG should look at the reasons for the rise. I would prefer to see the rise coming from an end to the manipulation. Geopolitical reasons are not something to celebrate. ATB Speedy

Hi Jungle Good to see you posting. My 17 03 post is the same as yours but you have worded it much better. ATB Speedy

Hi Red. The email to SB may or may not be the best way to deal with this but a simple explanation from NCM explaining why updates were excluded would be welcomed. It is clear the SD was surprised with this action and an explanation would clear the air. Maybe you should email SD and ask him if SD has explained his actions, but it is easier to do nothing as apposed to something. ATB Speedy

Hi Starbright. I have been a holder of physical gold, on and off, for over 50 years. I sold nearly all my gold when AST for the residential rental market became law. I have now sold all my rental units and hold physical gold (britts). Dealing in £100s of thousands in gold is easy and very liquid. Why would anyone hold their wealth in fiat when gold is available? Nearly all fiat has lost 98% of its purchasing power against gold since 1971 and it is about to loose some more. Folks need to get their heads around the fact that gold is money that over time holds its worth. ATB Speedy

Hi All. Tymers talks 88p when he wants to sell and 22p when he wants to buy. Best to ignore. ATB Speedy

Hi Zelos At the moment it is only a request, soon it will be a demand. Turkey is in such a mess i would give holidaying there a miss. This is only the beginning i expect many other countries to follow. This is why it is important to store your physical gold outside the banking system ( no safe deposit box or bank vault). If you can keep a secret, even from your own family, storage in a safe place at home may be an option, but not recommended. ATB Speedy

Hi All. I have nothing further to add to the debate surrounding the latest developments but do have a word or two about the state of play in the PMs market.
Volume was off the scale and open interest sky rocketed. Massive amounts of buying and not so massive amounts of selling by the banks trying to keep a lid on the rise. It seems to me that $1900/oz is the new line of defense for the time being and i expect a small pulback and then onwards towards new ATH. The era of fiat is coming to an end and central banks are powerless to stop it. With inflation rampant and higher interest rates not an option due to off the scale world debt the only course of action left to the banks and gov is more money printing or war. Either way the results will be an end of the $ £ Euro Yen etc. Of to the pub now to enjoy myself as there is no point in worrying about things we cannot control. ATB Speedy

Hi Panama. I would prefer to use the word negotiation as opposed to out right war, but we are not in a position to know all the facts. I bow down to your knowledge of reading body language but hope you are wrong on this occasion. ATB Speedy

Hi All. This is business and in business there is no such thing as greed just profits. May i suggest that all the chaps and chapesses on here relax. SD will want as much as pos and SB will want to give as little as pos, middle ground will be found. My only concern is JPMs involvement. I very much doubt there is collusion between JPM and NCM but it is an outside possibility. What is more feasible is JPMs tactics are to establish a large position in GGP on the cheap or to facilitate a TO of NCM and GGP. PLace your bets. ATB Speedy

Hi Joe. I do not rely on charts and mainly look at the overall state of play and it does not look good for fiat. The profits in gold will come via the end of the price suppression and double again when folks try to get on board. ATB Speedy

Hi Joe. All pointers show a much higher POG. In all my years in the PMs space i have never seen a more bullish position. ATB Speedy

Hi Aim. 2022 are as good as any. Steer away from rare, special dated coins unless you know what you are doing. ATB Speedy