Member Info for speedymeadie

Hi Bancal. That report into the LBMA trading practices lays bare the incorrect price discovery process. In just a few short years 2013 to 2016 $150billion was essentially stolen from miners and share holders. Over 95% of trades on the LBMA is derivative based specifically aimed at depressing the POG. This practice if/when it is stopped will unleash the POG to levels many multiples of todays price. Who is controlling this? The regulators are at fault by turning a blind eye and act on behalf of govs and central banks to make their worthless fiat look good. This has been going on far too long and eventually must end with or without the banks consent. If investors concentrated their efforts by buying physical gold and not playing along with the banks via ETFs this bent market would soon correct. ATB Speedy

Hi All. No real debate here so see you all tomorrow. ATB Speedy

Hi Enrico. I have many associates in Denmark, Sweden and Norway and all of them say the same. Years ago the system worked and most citizens agreed with the level of taxes and the level of public services. Today it is a totally different story and the tax burden on the middle classes is causing major concern. The system in the UK is also a massive burden on the middle classes. In a few more years there will be only the slaves and the uber rich with no middle class. Holding on to a medium sized wealth fund is becoming harder and harder. At the moment physical gold in the form of coins( Brits and Sovs) are is one of the best and most tax efficient ways. ATB Speedy

Hi Enrico. I would not mind paying more tax as long as the proceeds are used for the benefit of all and not wasted on madcap schemes benefiting spongers and the uber rich alike. If you are so fond of the system please feel free to pay my share. ATB Speedy

Hi Merc. The corruption of true price discovery in PMs has gone on far too long and must be resolved. The toothless regulators are not up to the job, the Reddit mob are going about it the wrong way, retail investors have very little effect and using ETFs is helping the bully boys win. The game changer will be the miners joining forces and collectively pooling their ozs and selling direct, cutting out the COMEX and LBMA. If the Indians, Russians, Turks or any nation wants gold in large quantities why not go straight to the producers. If they want they could set up a trading room in short order, plenty of PMs traders in London. It would only take a prominent name Pierre Lassonde, or the like, to back the idea and the COMEX would be toast. Instead of the banks earning $billions the profits could go direct to the miners and share holders. Just dreaming. ATB Speedy

Hi Fastjet. My opinion on the state of play here is just that "my opinion" please do not put your hard earned in here on my sayso and please do your own research. I see the SP being held down to facilitate a large buyer "at a certain price", when that buyer has filled i see the SP being let loose and returning to somewhere between the risked and unrisked price 33p/66p. That is for Hav alone, a big hit "or miss" on our other tenements should see the SP stay put "miss" or increase dramatically "big hit". Either way, the prospects from here for a higher SP are very very encouraging. ATB Speedy

Hi Bamps. Your posts, along with Paddy and a few others, is what keeps this BB an informative and pleasant place. ATB Speedy

Hi All. Not much change in positions on the COMEX. Banks are still in the hole for $20billion and are desperate to close the POG lower to clear their shorts. What is interesting is the silver market, hedging is almost non existent with miners holding back stock. First Majestic has been a direct seller for ages but now more have joined in and are stockpiling in anticipation of higher prices. JPM apparently hold 1 billion ozs of physical silver . When was the last time they called it wrong? I would dearly like GGP to sell our gold (when mined) direct to market and bypass the criminals in the bullion banks. ATB Speedy

Hi Viking. Looking bad for the Shrimpers, maybe the BODs dont want a football team playing on their very valuable green patch, much more profit in a block of shoe boxes. ATB Speedy

Hi All. Is there a big buyer or is there a big seller? Actually the argument is wrong because for every seller there is a buyer and vice versa. What is undisputed is that the market is either wrong (we are well undervalued) or it is a manipulated market. Place your bets. It is going to be a very interesting TR1 hitting soon and all will be revealed. ATB Speedy

Hi Tig. For short term trading i read and use info from the COT report, the short and long swings tell all. The banks have been trying to lower their short exposure and have reduced by 50% and JPM are net long. I fully expected a lower low recently. The COT report tonight will tell what to expect next week as gold traders digest the news. I will let you know how i read it tomorrow. For the long term there is no way but up. With world debt at levels that are incomprehensible and rising interest rates debtors will start to default and the days of fiat are numbered. The experts say rising rates are bad for the POG but when the can kicking stops and the currency debasement is complete one of the best places to be will be in PMs and related stock. ATB Speedy

Hi Panama. Love it, thats what we told the head of security at Knebworth Led Zep concert. ATB Speedy

Hi Firstmodern. Kitco gold and silver charts have been flat since London open, where are you looking? ATB Speedy

Hi Sanibel. No problem with just 2 or 3 at home but large amounts at home carry all sorts of risk. Insurance premiums on home stored gold coins is high. The good delivery supply chain is broken with delivery and sending your gold through the post for conversion to cash is expensive and time consuming. Robbers and thieves everywhere. Stay safe, sleep at night and store your physical PMs in a insured vault outside of the banking system. ATB Speedy

Hi All. Any one got any info on why Kitco gold and silver charts are flat. ATB Speedy

Hi Bradfordonian. Both the Cos i mentioned sell coins for storage and will deliver if asked, i strongly urge anyone not to take delivery for obvious reasons. Please research CGT and VAT on coins or bars. Only gold Brits/Sovs are both CGT and VAT free. All other gold/silver coins are liable for CGT. Silver in the UK attracts 20%VAT however silver Brits are CGT free but still attract VAT unless stored in a bonded vault. Spend some time doing some research, no point in giving HMRC too much. ATB Speedy

Hi Bradfordonian. I do not use Bullion vault as their premiums are too high. Switzerland is as safe as it gets, for large purchases (£200k) Matterhorn Asset Management offer an excellent service providing safety outside the banks and good liquidity, for smaller buys The Pure Gold Co have tight premiums , offer a good buy back guarantee and use a storage facility in Switzerland. I suggest you do some research on CGT and VAT prior to buying bars or coins. ATB Speedy

Hi Bradfordonian. With safety in mind Switzerland is as safe as it gets. I cannot comment on Bullion vault as i have never used them due to the very high premiums. Depending on your size of purchase Matterhorn Asset Management is as good as any and are big enough to provide good liquidity and storage is outside banks control. For smaller sized purchases i have used The Pure Gold Co their premiums are tight, offer a very good buy back guarantee and provide a storage facility in Switzerland. Please do some research on CGT and VAT on bars and coins. ATB Speedy

AT Speedy

Nevergone. I will answer you this once, after this please do not try to engage.
(1) The COMEX has operated exactly as expected, one day soon the manipulations will end as all manipulated markets do.
(2) I would never take delivery of my physical holdings for reasons that i have stated on many times over. Unless the farmer said he wants gold for his farm.
(3) I know what i know and have never said i know more about gold than anyone on this BB. If i am asked a question and i know the answer i post it.