Member Info for speedymeadie

Hi All. Even with the maint shut down the figs should be amazing. USA 100mill anyone? ATB Speedy

Hi Sageman. As stated i use ETFs for short term trading.

When, not if, the POG is revalued (say 10 to 1) and you have £1k in ishares you will only get £1k back on the Friday close and Monday it will be trading at £10k. Its not about wanting to hold physical gold its about profit.

Also the reason for holding in a SIPP or ISA is meant to be for tax efficiency. SIPPS are not tax free and carry massive taxes due on redemption. Holding Britts, stored at place of purchase, are as good if not safer than an ISA, rules can change. ATB Speedy

Hi Element. I am not a fan of SIPPs, paying tax on gains hurts. I only use ETFs for short term trades, not for investing. Sprott is one of the few that allow you to redeem physical gold but only in whole large ingots and are therefore not suitable for the average investor

I keep on mentioning Gold Britannias because they are the best form of gold you can buy. They are free of VAT and CGT and are one of the most liquid assets out there. They are easy to buy and easy to sell. My dealer sends funds to my bank account instantly. A word of caution, coins carry a premium and are for medium to long term investing, pay no more than 3.5% premium. Shop around for the best deal. ATB Speedy

Hi All. When the rerate in the POG happens it will be over the weekend and holders of ETF "gold" will be locked out and paid out on Friday close prices in worthless $s. This will be explained away as a force majeure. JPM are the custodians for almost all Gold ETFs and that tells you all you need to know. ATB Speedy

Hi Sageman. I really hope you are not in ishares"physical" gold ETF. They have NO gold and you are not allowed to redeem gold from them. With JPM as custodian should be a massive red flag. I fail to understand why "investors" (i use that word very reluctantly) would choose any ETF over physical gold, it does not make any sense. ATB Speedy

Hi 5 8ths. Why would she only want 20pc when she can let uneducated folks buy gold and then pay 40pc on profits. Dodge that one with Britts. ATB Speedy

Hi All. Trump does what trump wants. It is a possibility that he cancels the treasuries held by China. That would be a massive move. ATB Speedy

FHi Havetelfer. One 20th of a 3 bed semi. ATB Speedy

Hi element. 5500/oz is a “when not if” ATBSpeedy

Hi Multiplier. As i said yesterday "default is their only way out" ATB Speedy

Hi Jacko. That is the elephant in the room. If the present direction for debt increasing continues the state will not have enough taxes coming in to meet the interest payments. 5% will be a massive problem but what happens if the bond market demands 10% or even 15%. What ever way you look at the debt pile it is an ever increasing problem that can only be solved by default.

How much physical gold does every one hold? Answer is. Not enough. ATB Speedy

Hi Mike. I did not post to crititisise but just to try and help. The date for your house purchase may see the SP in a low spot but if you sell when the SP is in a high spot you are in control. As for stop loss setting, that really is a bad choice for controlling your sell point. The MMs can see where your position is and you will be targeted and if the SP takes a sharp dive the sell point will not be guaranteed and the sale will be well below what you have set. There are many books out there to help you make the right decisions, please take the time to read some, your wealth will improve with just a few changes. ATB Speedy

Hi All. Not one person in a million can read this market correctly. All this volatility is best avoided and have faith in your well researched investments.

Gold/silver and the producers will do very well. No point in trying to find the next big winner.

Gold Britannias and GGP will give holders a respectable return over the next 10 years. ATB Speedy

Hi Mike. I am afraid you are making a fundamental mistake in you investing strategy. Trade when you want to, not when you have to. I wish you well in your house purchase. ATB Speedy

Hi All. We will not know what the gold open interest is on the COMEX until Friday. Cut off is Tuesday for reporting positions on Fridays COT report. Not all traders report on time that is why i call it the week late news. I should imagine the short side is off the scale and traders standing for delivery will also be massive. Nothing goes to plan these days so we may see a big surprise and the banks have all gone long (in your dreams) ATB Speedy

Hi All. There seems to be multiple problems with various stock sites. ATB Speedy

Schlemiel

Hi Schlemeil. What is interesting is the amount of contracts thrown at the short side has increased as the years go by. They have to use more and more worthless $s to achieve a smaller result. The physical buyers will take full advantage of this smallish pullback, who can refuse a gift of discounted shiny stuff. ATB Speedy

H.i Awax. For those that have not yet "adjusted their strategies" i fear they are 5 years too late. The writing was on the wall as debt exploded. There are so many potential black swans waiting to happen that picking winners will be very hard.

I will continue to hold positions in the PMs space in anticipation of the next big property down turn. My strategy since the early 70s has been gold into housing back into gold. Hindsight is a wonderful but unusable tool and missing out on the tech and crypto rise has not altered my approach of "safe as houses" and "as good as gold". ATB Speedy

Hi All. The sell off has spilt over into the PMs space. Margin calls have forced investors to sell to cover. This will be short lived and physical gold and its producers will see a massive influx of funds. The coming flow of funds will be slightly subdued due to the attraction of crypto. The crypto buyers will be facing massive tax bills on profits while i will be smiling holding my Britts and GGP stock in my ISA. ATB Speedy