Gold

Yes I'd read about that "missing " gold and there's really no other explanation other than that the gold is not there. The Americans would presumably need to buy back the gold on the open market to fulfil their obligations which would lead to an increase in price and a probable devaluation of the dollar as they print more to buy that gold.
 
Sponsored Links
I'm glad I sold a 14kt gold watch when I did, a year or two ago. Bought used, sold used, with a small profit. Mind you, anyone who has ever looked at gold watches will know they are a complete rip off. The case is made so thin that there is an amazingly small amount of gold present, even less than 10 grammes. The Rotary watch I sold was over £1,000 in the shops, I bought it for ~£300, and sold it for £400 (as new condition). Scrap value was perhaps not much less than £400. So, £1000 for a watch that would cost £100 were it not gold, containing ~£400 gold. That's a nice profit.
 
I considered this at one stage but then I thought to myself if the banking system does truly collapse and the lights go out, there is no food or water, the only use a gold bar will be is if you manage to hit someone in the head by throwing it at them.

If you want to buy and sell for profit there are much funner and more interesting ways to do that. I could say the same for buying and renting property, every man and his dog does this now, very few have a passion for the crafts that go into making a nice home for someone to live in. Most landlords don't care, just want to make a quick buck.

And back to the subject of gold, I'm very suspicious of a commodity whose value is dictated by the ****ing Rothchilds, the most henious lying and cheating family the world has ever known, in my opinion of course. When push comes to shove you'd be better of investing in a nuclear shelter
 
Sponsored Links
A reminder for Joe



and is there a supporting rumour that the nominally communist but really military state will become reliable and trustworthy, and stop being corrupt?

When the Chinese banks collapse it will be far worse than the US/world banking crash was.
 
Gold is bought when people think stocks and shares are too risky, as it has a fundamental value, unlike paper. But the price of gold falls when confidence returns. So recent falls in the price of gold are actually something to be happy about. Unless you own substantial amounts of gold of course.

Gold jewellery really is a rip off. I wear a Rotary 9ct gold watch bought new from ebay for £125. (Yes, it's real gold.) That watch sold not long ago for £1000 in the shops. It contains a few grammes of gold, and the value of the gold is not even £125. They make the case as thin as they can. I also bought a Rotary 14ct gold watch, as new, for £300 on ebay. It cost at the time £1000 in the shops, more like £1500 later on. I was unwilling to wear something so valuable so sold it, making a small profit. I worked out that the value of the gold was a bit less than £300. The back was screwed on, the reason being that by using screws they could make the back very thin, thereby reducing the amount of gold. Gold watches are a way for the manufacturer to fleece the public. Buy second hand if you must.

Regarding selling gold, Google and you will a wide variation in the buy price. There is one company in London I think that buy at a fair price. But some are con artists, they make an offer, then pay you less on receipt, citing various excuses, and charging large handling and postage fees if you want it back.
 
In times of austerity, they know fine well that people will sell whatever valuables they have. Gold & silver (though mostly Gold) has retained it's worth through centuries and is far safer investment than the stock market / pensions.

I'm glad that someone pointed out to avoid owning paper gold, IE; purchasing, but never actually getting the gold, just a measly certification. Physical assets are and will always be worth more than the paper, not that it will matter if SHTF. Most bullion dealers require photographic ID to be sent before setting up an account with them. I'm sure there is legislation in place that they must have the details of who it is being sent to. I am not allowed to send any of my purchased to an alternative address. It has to be the card holders address. I'm sure this is so that they know who has what, if anyone remembers Roosevelt's executive order where the US gov took (or "stole") everyone's gold from them
 
Gold is bought when people think stocks and shares are too risky, as it has a fundamental value.

No it doesn't

It has a price, which is whatever someone is willing to pay for it.

Yes it has got a fundamental value. Obviously the price per unit varies. :)

It a fundamental value isn't the only reason people buy it, also that it is the most liquid of assets apart from actual cash, which as has been said is entirely built on confidence, hence why gold, which has been valued as a currency for thousands of years.
 
Personally I invest in the stock market, in the long term it provides far greater returns. In fact now is an ideal time to buy.

I had a leaflet through the door, from one of these people who buy old medals, rings, gold etc. I can't help thinking that anyone who sells to this person must be daft as a brush.
 
I'm glad I sold a 14kt gold watch when I did, a year or two ago. Bought used, sold used, with a small profit. Mind you, anyone who has ever looked at gold watches will know they are a complete rip off. The case is made so thin that there is an amazingly small amount of gold present, even less than 10 grammes. The Rotary watch I sold was over £1,000 in the shops, I bought it for ~£300, and sold it for £400 (as new condition). Scrap value was perhaps not much less than £400. So, £1000 for a watch that would cost £100 were it not gold, containing ~£400 gold. That's a nice profit.


Watches, even big name ones, are often a rip off. A friend of mine bought a known brand (??) watch from a jewellers for about £1500. It was a year or two out of warranty when this 'quality' timepiece went wrong. He went back to the jeweller who said he would have to fit a whole new movement for £100. So, not only did this ridiculously expensive watch fail after a short time, the movement's value is less than a fifteenth of the retail value of the watch.

Some quality timepiece that was. Think I'll stick with my £10 Casio. 13 years old, one battery change, and still keeps perfect time. :cool:
 
Big name brands are the worst. Look up Patak Philippe, Breguet etc. Apparently the actual cost to make is not that high, but huge amounts are spent on advertising, creating an ethos, product placement etc. Some of these watches cost £50,000 and more.

My £125 watch from ebay is good enough. I do also have an expensive mechanical which I will sell. I took it to Goldsmiths to have the strap adjusted, and the salesman knowing I bought it new for a fraction of their price told me that people like me destroy the brand image. :ROFLMAO:
 
Gold is bought when people think stocks and shares are too risky, as it has a fundamental value.

No it doesn't

It has a price, which is whatever someone is willing to pay for it.

Yes it has got a fundamental value. Obviously the price per unit varies. :)

Rubbish.

So what do you think is the fundamental value today, and what do you think was the fundamental value a year ago?

And what do you think will be the fundamental value in a year's time?
 
Sponsored Links
Back
Top