Member Info for speedymeadie

Hi Koffee. Your post should read "Temporarily dented" ATB Speedy

Hi Tallchap. I will attempt to explain. Imagine having £s in a current act @ 1%/yr interest with inflation at 2%,you are losing 1%/yr on your money. Bonds are meant to be a safe haven play but in reality with yields (interest) so low and inflation at a real rate of 10%, bond holders are losing money hand over fist. It is better to hold physical gold/silver with a storage fee of 1%. Only when bond yields are greater than inflation some say that will it be time to sell gold buy bonds. With debt so high (understatement of the year) the fed dare not raise interest rates, eventually the fed/central banks will lose control as bond holders demand a higher rate of return. When, not if, interest rates revert back to normal 5% 6% is when all hell will break out and government spending will cease. That will make gold a lifeline. ATB Speedy

Hi CoinCollector. Thanks for the response. I am of the opinion that discussing wealth making and preservation on this BB is a good use of space. Any info on tax savings is also a good thing. One day we will all sell or get T.O. and having the knowledge and being prepared must be a good thing to share with the good people here. ATB Speedy

Hi CoinCollector. Just as a matter of interest, where do you normally buy your coins and what type? ATB Speedy

Hi CoinCollector. Just as a matter of interest, where do you normally buy your coins and what type? ATB Speedy

Hi MFU. S.D. could help the SP by improving sentiment by publishing, in laymans terms, all relevant projected costs and profit forecasts for our JV with Newcrest relating to mining HAV. Then we will be able to do more accurate SP predictions. He could also put us on the ASX and into footsie 350/250 and announce future plans for expansion via acquisitions to explore. Or he may have enough on his plate already. ATB Speedy

Hi ManfronUruguay. Yields are rising, but compared to real inflation rates (some say 10%). Bond holders are losing 8%/yr at best. When yields are greater than real inflation that will be the time to sell your gold. Yields are only 1 part of the story the really big game changer will be when physical buying over runs the shorts and this is happening now. ATB Speedy

Hi CoinCollector. For me it has been an interesting 50 years. That was 1971 when the USA $ stopped being linked to gold. Made my first gold purchase then. The only asset to out pace gold has been owner occupied housing and that is only through massive government intervention. The premiums for coins are getting very high, but do not let this put you off buying coins , when you sell you will be selling at a premium. If you buy bars you will pay a smaller premium but the tax man will hit you hard (CGT) when you sell. ATB Speedy

Hi Droverman. Early start on the Macallans, and why not, sod all else to do. This lockdown stuff is getting sillier and sillier. ATB Speedy

Hi Sanibel. When buying physical gold it is best to store at place of purchase, there are several good reasons for this. Firstly it maintains "good delivery status" this negates the increasing risk of fake coins and bars entering the market, then there is the security risk of storing "under the bed". I must admit to holding a few Brits and Sovs "in hand " for instant cash up but nearly all my holdings are in insured storage in various places and this attracts a cost of between 0.5% and 1% depending on location. The % charges are in line with holding funds in ISAs and SIPPs. The most important thing to remember when buying is doing it through a reputable bullion dealer, and negotiating the premium and the buy back price. God luck. ATB Speedy

Hi Prof. Best not to forget that prediction is on the profit from gold covering costs, but i suspect an increase in the POG (guaranteed) to further increase profits. Add to that an increase in the price of CU and cobalt (almost guaranteed) and things really do look rosy. I really am surprised that there are sellers about. ATB Speedy

Hi Robert. Just watched the vid. Willem must be reading my posts, Ha Ha. Best buy that physical AG/AU before it is too late. ATB Speedy

Hi All. The bullion banks are now getting desperate. Last weeks down drive only allows them to reduce their shorts to $35billion. HNW individuals stood for physical delivery to the tune of 70 tons of gold last week alone. The LBMA are now under pressure to keep the delivery chain going, i have my doubts that they can at these prices. The silver markets are also seeing shortages resulting in massive premium spikes and longer delivery times for retail sized bars and coinage.
There are alternatives for wealth preservation as opposed to holding physical gold/silver such as cash in a bank, bitcoin, stocks and bonds. Take your pick. ATB Speedy

Ho Prof. It is quite simple. Gold covers all the costs. For our share of copper =$4.5billion cobalt =$7billion =$11.5billion divided by stock say 4.5billion we are worth just shy of $3/share. Very, very, roughly £2. All that working out after half a bottle of 12 yr old single malt last night. Wonder how close i am? ATB Speedy

Hi Dizzy. I read neither and have a fairly good knowledge of the way modern Russia works. My life long best friends wife is Russian and her family are still there. When i mentioned buying into AMC she nearly died laughing and told me that the area where we are based is so bent it cant lay in bed straight. Follow the BASHLEE. Still have a holding here and will continue to hold until T.O. ATB Speedy

Hi Droverman. Next time you visit the wonderful isle of Sicily try the Duca Enrico (if you can find a bottle) one of the most important wines and found in the best of the best restaurants. ATB Speedy

Hi Kabaa. I agree the gold market is massive and daily trades are equivalent to (approx) all the gold mined in a year, but when looking at LBMA physical liquidity, it is squeaky tight. It would only take a few HNW individuals or millions of private punters collectively to break the shorts via physical deliveries from the COMEX. The gold is not there at todays prices, to entice more into the LBMA the POG would have to be way way higher. ATB Speedy

Hi Kabaa. That is a pretty good description of what took place. There is no point in taking on the banks at their own game in the paper market, physical buying will break them. ATB Speedy

Hi RTC. If the Reddit /wallstreetbet people do intend to seriously enter the PMs market then the shorts are exposed on the physical side. If they buy futures contracts on the COMEX and stand for delivery (even at a loss) they will break the banks and the POG/S will see prices that are unimaginable today. Or do you see it differently? ATB Speedy

Hi Jonno. The shorts are so far in the hole that i see no way out for them all they can do is try to lessen their losses. How low they can take the POG/S is anyones guess but i am convinced we are somewhere near the bottom. ATB Speedy