Member Info for speedymeadie

Hi Starbright. Not i, but what a gift. $20mill for betting on the gold bull continuing. ATB Speedy

Hi Blue toff. No comment from me. ATB Speedy

Hi james. The shorts are waiting for the news that the little folk of middle earth have nicked all the gold. ATB Speedy

Hi All. My bad. A few weeks ago numismic/rare coins were discussed. I stated that prior to 2013 gold Britts contained 22ct gold. Whilst this is true the coins are bigger and contain a full oz of pure gold with some silver or cu added. The value of the coin is the same as coins minted after 2013. The main problem is the premiums for these pre 2013 coins is excessive and should demand no more than present coins. I apologise for giving false info. ATB Speedy

Hi All. The biggest difference between punters and investors is risk management. Once you fully understand how to asses risk and adjust accordingly you will become much better at preserving capitol and increasing it. Today i see risk everywhere and it is at extreme levels that are unprecedented. Equities, bonds, financials, derivatives are a no go for me. There is a risk in the PMs space but the levels are very very small. The risk is for the short term holders of physical gold wanting to cash out when they need to not when they want to. I say that because there may be a short term pull back after such a massive quick rise. But this risk is insignificant compared to the risk of holding bonds, derivatives (ETFs) etc. Medium to long term holders of physical gold will see good returns, beating inflation and adding wealth as the slow to react buy in and push up the price to levels that will make early buyers very secure.

There will always be better profit makers, but picking the good from the bad is hard. ATB Speedy

Hi GGPthruandtrue. I am not so naive to the extent that i think there has never been corruption and morality has always a debatable quality. However, corruption and abuse of trust was severely punished with punishment fitting the crime. Today with corruption and abuse of trust the establishment punishes the small guy but the elite find ways of avoiding meaningful punishment. If the establishment was serious about tackling corruption the big commercial banks would have been broken up years ago. ATB Speedy

Hi All. We are all just pawns in this great game. The likes of Swartzstein/JPM/Mcguire do whatever they want (legal or illegal). The regulators are owned and run by their mates and any wrong doing is brushed under the carpet or insignificant fines are imposed. Fink and Dimon did not get where they are now by playing a straight bat. The rules are used or abused to their advantage and all we can do is hang on to their coat tails.

Morality and trust is well and truly finished. What a sad world we are leaving to our kids. ATB Speedy

Hi Zoros. Thanks you for your indepth reaction to my POG post.

The USA $ and most other fiat currencies have already failed. Since the 1970s they have lost 98% of their value against gold and continue to fall.

The BRICS+ represent some 70% of world population and most are resource rich. China will dominate in the future and will use gold as a trading medium.

Folks around the globe are getting the gold message. Why wait any longer to buy gold it will only cost you more fiat in the future.

I have been a holder and user of physical gold since i was alerted to its benefits in the 1970s. You are correct that, at the present, you need to convert back to fiat to trade and this i have done for everyday living and major purchases and it is as easy as transferring from bank to bank.

Storing your gold at home carries risk and must be managed in a careful manner, As for spending your coinage i have used Britts in many many countries around the globe and their are dealers in every city that will take your gold for cash in an instant.

Sorry Zoros but i fail to see one single counter in your post that makes sense. The financial world as we know it is failing fast and delaying direct action to preserve your wealth for short term use and passing your wealth on to your heirs is just plain stupid.

Gold has for 1000s of years been used as a store of wealth and has never, ever, failed.

Govs around the globe may try and counter the rise with whatever means they have and short term pullbacks may be seen, but gold in your hand will always have a value, unlike every fiat currency in history.

Here endeth the lesson. ATB Speedy

Hi All. The gold bull is now in full swing and the whole world is now waking up to the benefits of owning physical gold.

I pains me to state the following, as i have always advocated "store your gold at place of purchase" The physical gold trade has always been a place where trust rules supreme and any deviation away from the straight and narrow leads to immediate failure for the deviant.

With the world heading for a financial meltdown and a dramatic change coming is world order the days of trust are now (imo) well and truly over.

There are now very good reasons to take delivery of your gold (not silver held in a bonded store)and keep it in your possession. Doing this carries immense risk and it is essential to cover your footprints. The less people that know the better. Take delivery in person, not by courier. Insurance is debatable with broker and office staff knowing the details and HMRC through premium tax. Tell no one, not even close friends and family, secrecy is paramount. A fire/heat proof strong box will be needed.

This post may be seen by some as an act of paranoia but in a world devoid of morality and trust a thing of the past, i think it is prudent to act. Take care ATB Speedy

Hi Prof. Soon , very soon. With trillions of dollars in the money markets just a few percentage points of that money will boost the POG much higher. ATB Speedy

Hi Olivetti. The space under my bed is too small to accommodate my stash. I use a nice big vault with big locks and thick walls and payment is only a phone call away.

Any burglar looking under my bed would not even find a dust bunny. ATB Speedy

Hi all. Diversification used to work, now it dont. Anyone touching bonds needs a rethink. equities are facing a big fall, financials are looking bleak.

My diverse portfolio consists of GGP (plus a smallish punt in a few explorers), gold Britts and silver Britts all wrapped up in a tax free environment.

I sleep at night, safe in the knowledge that i am invested in a mostly derisked gold mine plus the safest and liquid assets (gold and silver).

I keep my eye on world events and see no reason to change my approach, when i do i will say so here but dont hold your breath. ATB Speedy

Hi Droverman. Is that the same Tether fined for selling Stuff it didn’t own

Hi All. The Bloomberg report on the Fed loosing its indipendence due to the orange one trying to take control, states that if "just 1% of investors shift from treasuries into gold" POG could soar to $5k/oz. If that does not start an awakening of western investors into the benefits of physical gold holdings nothing will. As i have said before the bull in gold is only just getting started. ATB Speedy

Hi The Doors. There are two words in the coin buyers dictionary that needs to be avoided, The Royal Mint and numismic/rare coins. The royal mint charges excessive premiums and rare coin buying is an art that most are bad at. Dealers will sell you "rare coins " at a massive premium but when selling the premiums vanish. For investment purposes new 1oz gold Britts are the best. Britts dated 2013 onwards are 24 ct, 2012 and before are only 22ct his should be reflected in the price but often is not. There are many other pitfalls in buying rare coins and best avoided unless you really have done your home work. Even dealers with a wealth of knowledge still get hit.

Buy your new, mint condition Britts/Sovs, from a reputable dealer. ATB Speedy

Hi All. There is lots of news recently regarding new digital gold holding/trading. Fin tech, World gold council, Kinesis, Tally, just to name a few. Whilst holding gold in allocated accts is safer than unallocated accts i still see risks in the digital side of things. Hacking, fraud and tax problems being forefront.

Nothing beats holding physical gold in the form of tax free, liquid, gold Britannias. ATB Speedy

Hi 96dc2. Basel 111 states all trades have to be covered with physical but some markets have not adopted the rules.

On COMEX traders are net long by a small margin with the commercials 50k net contracts short. Usually the commercial banks drive down the POG prior to contract expiry (26th Sept) to ensure as many longs as possible end up "out of the money".With the movement over the last week or so they will find it very hard to cover and are looking at substantial losses, but miniscule compared to past profits. The contracts outstanding will be paid out in $s and i imagine not many will get rolled over into next months contract, the rising POG makes it to risky. This is not taking into consideration the genuine hedges demanded by banks against loans to gold miners.

The Achillies heel for the COMEX is traders standing for physical delivery and more and more are demanding payment in gold not $s

Paper trading is quite complicated for new investors and anyone thinking of shorting the gold market because of the ATHs being reached needs a rethink. ATB Speedy

Hi All. Good week for the POG.

There have been massive increases in inflows into gold ETFs. These ETFs will tell you they are backed by physical gold. Where is all this physical gold coming from? Short answer "it isnt". Almost no ETF allows for physical delivery and just pays out in fiat, that alone should be a red flag.

The debt pile is showing up in the bond market and this is the main driver for gold. Second biggest driver is the move away from $s/treasuries by really big players and BRICS+ towards gold. Before anyone starts on about how small the BRICS are just remember they are 70% of world population and are a direct challenge to the west.

This bull in gold is just getting started and once $4k/oz is broken (not long to wait) the western world will wake up and push the POG to levels that today seem unreachable. ATB Speedy

Hi all. Well done SD and team, we are now officially in the big league. This is just one more step in the coming re rate for our SP. The big one will be production from Hav/Telfer yearly results. That will then be the end of this fantastic journey for me. ATB Speedy

Hi Jerry. Out of all the pointers i use to determine POG movements, debt is by far the most influential. World debt is not repayable and servicing that debt with more debt is just madness. The only way out is default, either by telling the lenders they are knocked or default by inflation or even hyperinflation. The bond market is a reflection on that debt and the more risk the higher interest the bond holders demand. Eventually bond buyers will say enough is enough and give up. Has anyone noticed the likes of HL are pushing gilts very hard. I personally would not touch bonds in any way shape or form.

The POG has, time and time and time again proven physical gold to be one of the best choices when currencies collapse. This is what we are witnessing now. ATB Speedy