Member Info for speedymeadie

Hi Alreadyinuse. Tally does not allow physical delivery, so it is just another form of paper gold. Much better to buy Brits and Sovs, store them at place of purchase and sell one or two as needed. ATB Speedy

Hi Khrysos. Not many folks know the PMs space, it is complicated and highly dangerous market to play. By far the best approach is buy physical on a regular basis and hold for the long term and use as a bank deposit acct, do not try to trade as the banks will steal your hard earned (unless you are very lucky).
You state that you understand the PMs space. What are your views and where do you see the market going in the short, medium and long term? Some will say this discussion is on the wrong board and irrelevant but our asset value depends on the POG. I see the POG, short term being very volatile both ways up to the new year, medium term is see a rise to $2.5k/oz, as for long term $10k/oz is baked in and probably higher. By the time we are in full production the POG will surprise most folks. ATB Speedy

Hi Colin. Not for long. Speedy

5 in a row now. Must be due some good news

Hi All. 3 negative posts in a row? Quick sell all your gold and get out of GGP as soon as you can. ATB Speedy

Hi Tosspot. There is more chance of Mali circling Russia than China selling their gold. ATB Speedy

Hi Khrysos. Apologies if my once a week posts re POG upsets you. The main reason i continue to spread the word is the importance of understanding what is going on in the PMs market. As with entering/exiting any market timing is critical. I have been expecting a price rise in the PMs market and all fundamentals signal that to be the case. The problem is the control the paper market has over the physical market. The paper market is getting weaker and weaker and i see the recent drop as their swansong. I stand by my statement that the profit will be made when the paper market ceases to influence. This is not a gamble it is fact and to get that profit holding physical metals and related stock is a must. Timing is important but holding physical is more so. ATB Speedy

Hi Maningreen. TomE is correct, Atkinsons are competitive and trustworthy. I have used them many times for smaller buys. ATB Speedy

Hi All. The bullion banks are successfully driving the price down to allow them to clear their short position. The COT report, this Saturday, should see a big reduction of their short exposure. The rebound from this false drop will be dramatic. I fully expect a $2k/oz print early in the new year, if not before. All the pointers are towards a higher price, higher inflation coming, equities markets correcting from a stupidly high valuation, geopolitical unrest, massive debt, currency debasement, please feel free to add any i have missed. Take this opportunity to back up the truck and load up with physical metals and related stock, the outlook for PMs is good. ATB Speedy

Hi Flareboom /Davielad. You are correct, Gold miners ( if successful) will give a better return than owning gold. For me its all about security and tax avoidance. I am a holder of gold and silver in the form of Britannias (no CGT) and a fair chunk of GGP in 3 family ISAs (no CGT). I have no intention of giving 50% of my gains for incompetent govs to waste. How long the tax situation with ISAs will last is up for debate. ATB Speedy

HIInvestor. Good post, world debt, currency debasement and high inflation will be the main drivers for the POG. The main thing driving it down is the manipulation by the bullion banks. There are two reasons for their actions, one is to enable them to clear their short position ($230 billion COMEX + LBMA) and the desire to keep the fiat casino going by making gold look bad. I have been a gold buyer since 1971 and have seen similar down trends over that time. What allows me to sleep at night is the fact that unlike many other investments my gold will never be worthless. When the equities/financial market bubble crashes gold will fall alongside it but will rebound with a vengeance. The effect on gold producers will be huge. ATB Speedy

Hi Spy. If you compare what $900 bought you 3 years ago you will see what i mean. ATB Speedy

Hi Robbie. Gold is a cheap now as it has ever been. I remember someone, somewhere, saying "buy low sell high". Seems like a good idea to me. ATB Speedy

Hi All. If you were in at the beginning of this story you are in profit at todays SP. If you are a late comer you will still be in profit at some time in the future. The IIs, waiting and watching, think in timelines of 5 to 10 years. All the pointers show that in 5 years time the POG will have more than doubled from here and in 10 years time it will be well above $10k/oz. Our SP will reflect those prices. With all the news due, a significant price increase in our SP will be coming sooner than that, but even without good news the SP will be much much higher and the "patient" IIs know this. They want a lower SP to maximize their profits when they get onboard. The old saying "jam tomorrow " will come true with GGP. ATB Speedy

Hi Maxwell. Gold Switzerland are a Co that deals and stores gold. They know the market better than most. It stands to reason that due to their business they are pro gold. Regardless of that what they say makes a lot of sense. All the fundamentals point to a higher POG/S. The one and only explanation is a bent market where true price discovery is lost in a sea of paper trading.
Basel 111 will need to be implemented on or before 2nd Jan 2022 and the $30billion short position on the COMEX will have to be closed. We know of this short position via the COT report, what is not common knowledge is the unreported LBMA short position with some insiders estimating a total of $200 billion that will need to be squared soon. A re rate in the POG is baked in and the effect on our SP will be significant. This is not guaranteed and the criminal infested banks will try to find ways around the new regs. Even if the new regs are only half a success the effect will still be impressive. ATB Speedy

Hi All. A quiet day with no real news so here is my take on the state of play. USA national debt $86 trillion, money supply $1 mill every 10seconds, derivative market $600trillion. A collapse of Cos such as Evergrande will see a break in the conterparty pack of cards. Today POG took another small hit. The criminals which run the world and its Govs and financial markets are desperate to keep gold looking bad and trying to keep investors away from what is one of the few currencies that will be standing in a few years. When, not if, oil, gold, corn, gas, iron etc producers refuse to take USA $ in payment you will be very happy that you have at least 25% of your wealth in physical gold. Diversification is good so for me its 80% physical metals 20% GGP. ATB Speedy

Hi Ollie. I say prior to the new year on the thought that the bullion bank shorts will clear their position, whilst being squeezed, before being forced to on 2nd Jan 2022. Although we are not yet producing, a re rate in the POG will see an increase in our SP. ATB Speedy

Hi Bunky. Most fiat currencies have already collapsed 98% against the purchasing power of gold since the $ came off the gold standard. The world will not stop spinning just because the central banks lose control and people stop trusting their respective currencies. Long before the final 2% (100% from here) disappears another form of exchange will exist and my money is on a digital coin, maybe gold backed. ATB Speedy

Hi Monty. Re your 20.50 post last night. The only reason the $ is looking good is the intervention in the forex market by the PTB. The same goes for the gold market, the PTB are driving the price down to make the $ look good. False markets are all around us and are being facilitated by pushing buttons on a computer to create currency out of thin air and using that worthless currency to bend the market. There are massive implications due to this fraud with inflation being the biggest. When, not if, the market returns to true price discovery all will see the $ has no clothes. ATB Speedy

Hi Blue. Gold 1 oz Britannias are by far the best, easiest, tax free and most liquid way to gain exposure to the PMs market. Silver 1 oz Brits are equally as good but usually carry a high premium and will need to be purchased and stored in a bonded store (VAT on delivery). I suggest you shop around for the best deal and store them at place of purchase. Hope this helps. ATB Speedy