Member Info for speedymeadie

Hi StrummerJones. You seem to know what you are talking about. Can you please use your knowledge to say what investment rout is best. SIPP or ISA. For example say a 30 year old had £20k a year to invest and assume a 5% capital appreciation/year through investing. I have tried to do the calcs but gave up. ATB Speedy

Hi TomE. No where is 100% safe. My physical holding are spread around and well away from banks and uk gov control. A few gold coins in hand for unexpected events are a good thing to. It may seem that i keep on about the risks that come with banks but even if the risk is minimal why take it? ATB Speedy

Hi DjWatty. Good idea to spread funds into multiple accts. The problem is if your bank does fold many others will follow and all the promises from the FSA on paying out will be unachievable. Their promises are there to calm fear but in truth they will be as useful as FCA. I use investments to create wealth then store that wealth in physical gold, works for me. ATB Speedy

Hi All. Just moved £20k from my taxable SIPP ready to place in tax free ISA. Small amount of tax to pay on the SIPP drawdown. This will hopefully be paid back in spades when GGP revert back to true value. I have been taking drawdowns from my SIPP to place into ISAs for many years now and have save a large amount on taxable profits if left in a SIPP

Hi Napthman. My hands are so numb they think they have been stuck in a great big pot of Charlie. ATB Speedy

Hi Redirons. As for the impact on our SP. We all think a higher POG will see an increase in our SP. We all also thought excellent RNSs would increase our SP, how wrong we all were. Eventually true value will be seen but not until the big boys want it to happen. ATB Speedy

Hi Redirons. The new regs coming from the BIS are designed to make banks less risky by forcing them to have enough collateral to cover risk. When the regs come into force (dates not clear) traders on the comex will have to have enough gold to cover for physical delivery against their shorts, at the moment most settlements are in $s, but this is fast changing with more and more HNW individuals standing for physical delivery. If physical delivery demands accelerate the banks will have to hold (or have access to) allocated gold. The supply and demand will call for a higher price. The regs are written in a very confusing way and not being a legal expert i may be reading it wrong. The banks are in charge and they will fight any changes that threaten their strangle hold on money. ATB Speedy

Hi Bamps. your last 2 posts just blew the bloody doors off. ATB Speedy

Hi Jvetch. Good debate and a pleasant outcome, dont hold on to those $s for too long. ATB Speedy

Hi Jvetch. You are correct the USA$ will not go to zero as even ass wipes have value. I suspect a digital coin backed by gold to be the world reserve currency. The world will not tolerate the USA for much longer. Their nation has been taken over by thugs wearing suits and their reign is fast coming to an end. My tea is hibiscus with lemon and honey. ATB Speedy

Hi Jvetch. I will have a cup of tea bet with you on these outcomes.
1. USA dollar goes to zero (as every other fiat currency in human history). lost 95% already against gold,only another 100% to go.
2. £3 by Christmas. A bit hopeful for 2021 but almost guaranteed for the future.
3. Gold will be like bitcoin. I hope not. ATB Speedy

Hi JiffyBag. The BIS treats gold as a FX asset. £s, euros, Yen, Yuan Etc are all FX assets. All currency is measured against the mighty $ ( not for much longer) To say all currencies are tier 1 and yet gold is not is just a play on words. The banks are not ready for the new regs and will keep on trying to discredit gold. The BIS is complicit in the PMs price capping because gold is fiats Achilles heel. Andrew Maguire is involved in Kinesis and will always talk up his own book, but he does know the gold market. The price manipulation via the paper gold market will never end until there is a gold backed world currency.
The only thing i am convinced of is that gold will be around a lot longer than the $.

HiJvetch. I have stated on here that pricing gold in $s is not a sensible thing to do. If the $ collapses and goes to zero (good chance) then the POG would go to infinity taking the GGP SP along with it. With Basel111 being implemented the bullion banks could lose their control of the paper market and by 2023 (basel1111) the POG could be 10x where we are today, what price GGP then? ATB Speedy

Hi Napthman. I could not agree more, Newcrest need our gold and we need them to get it out the ground. But this is the gold game and anything is possible. ATB Speedy

Hi Test. Most people who got in pre 2p level are holding for the real value to be realized. Anyone looking to sell would have done in the 30s. ATB Speedy

Hi All. The COT report for last week on the COMEX shows the bullion banks reduced their shorts by almost 50% and the managed money has reduced their longs to a record low. The BBs have no category to aim at. No matter how hard they try to drive the price down, buying drives it back up. The bullion banks have earned $billions from the paper gold and silver markets. Their current approx $20billion short exposure in gold will probably be covered shortly and the long term bull run will continue. ATB Speedy

Hi All. Thanks for the great response. The idea is a 200 limited run of 1oz bars. The design will incorporate Martu art depicting Jila (the serpent) protecting the living waters. I have contacted the GGP office and told them of our plans. I am confident the GGP office will handle payment processing and dispatch. I will keep you informed of any developments. ATB Speedy

Hi All. Judging by the requests, this will happen. I am going to request that the GGP office handles the payment and dispatch side of things. I am going to contact the Martu community to ask for guidance on art form as part of the design. I will let you all know more info in due time. ATB Speedy

Hi Jerry. I am quite sure that if you were, you would be a good one. ATB Speedy

Hi All. I have just emailed the GGP office to inform them of our plan. I have asked for their views on this, will keep you all informed of the reply. ATB Speedy