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About ConvertedGoldBug

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  1. ConvertedGoldBug

    JIM WILLIE - Gold, The Dollar & the Global Economy

    Wasn't sure if it was worth starting a new thread or not, but how can people deal with this successfully? Those with money to invest would still need to keep some paper fiat money in cash for day to day living. But if the currency was devalued, resulting in inflation, their salary would need to increase to keep up. If this doesn't happen, what do you do? I understand Basel III could lead gold to become a tier one asset to back currencies. But I read that its value would likely need to increase to do that. So those holding gold would see their assets increase. That's fine for those that hold such assets. Say it had to double to back a currency, does that mean that fiat would be halved in value, and the cost of everyday living would double with inflation? At present, one probably couldn't prevent all their money devaluing if they need to keep some in cash for daily expenses. So what happens with that cash if it suddenly devalues? I like the GoldMoney idea of originally thinking GM accounts could be used to pay others for goods and services (is this still on his agenda?). Then individuals could have all their own "money" fully backed by something as well. But this isn't really feasible as gold fluctuates in value, and might be down in value when you need to spend a bit, making this idea impractical. Plus everywhere only takes payment in cash anyway. Basically, how would an individual get through the transition period as smoothly as possible?
  2. ConvertedGoldBug


    US and UK agree failed banks plan http://www.bbc.co.uk/news/business-20663580 They're saying that they won't bail out any failed banks in future. What do you think of the implications? Would they really let a bank collapse? Would a lack of bail-out make the banks think more about their risk profile, and run a more sound business accordingly? Even if one small counterparty in the banking system collapsed, what would the chain reaction be? Or is it all hot air to get make the banks scared, and they would get rescued to avoid a run on all the other banks if one went down?
  3. I've been looking into opening an account with BullionVault and/or GoldMoney, and have a few questions which others here who use these services may be able to help with. My questions are mainly from reading through the BullionVault online help, but may apply to GoldMoney as well. Liquidity: From my initial understanding, you are buying/selling to/from other account holders, yes? If so, then what if you want to sell in a falling market, and there are no buyers, are you left holding gold/silver that can't be sold for cash? I recall reading a few years ago (possibly on the Gold thread on this forum) about being able to monitor shipments to and from their storage vaults, and someone commenting on a large amount being shipped out of the vault. If our accounts are tied into actual physical gold, are BullionVault continually transporting gold in and out of their vaults? This sounds like a large logistical undertaking, or do they only do this periodically to balance the books? This possibly ties in with the original question, suggesting you're only holding and trading gold that already exists in the vault between other account holders. Capital Gains Tax: Sovereigns and Britannias are exempt from CGT... does this apply to any form of UK gold, or just these coins? If a UK resident is storing gold in their own country, are they liable to CGT on any profits made from selling the type of gold bars held in the London vault (or one of the others). Are these type of gold bars exempt from CGT as well, or should this be treated as a normal investment which would incur a CGT liability? Basically, does all this need to be recorded on an annual Tax Return form? Choice of storage facility: What are the pros and cons of chosing which vault to use, based on your country of residence? For example, if a UK resident choses the London vault, could this be liable to confiscation in a worst-case scenario? And if this influences people's decisions to use the vaults in foreign countries, what if capital controls are put into place, would this prevent selling your holding outside the UK, and possibly being unable to bring funds back into the UK? Thanks in advance.
  4. ConvertedGoldBug


    Blimey... has everyone really deserted GEI ? That's not very helpful to the rest of us who valued their input. PS: I vote for keeping silver in its own thread.
  5. ConvertedGoldBug


    Combine them. I can't see the point of two separate threads about the same topic. Have one single thread, and just let whatever discussion occurs at the time dictate the direction of the topic. Otherwise, whenever there's any particular news item to report, it'll end up being posted in both threads (like sometimes happens here anyway), which seems a bit pointless.
  6. ConvertedGoldBug

    DrBubb's Trading Diary - MAR. 2012 - v.39

    Dr B. Are there any threads on GEI for trading for beginners? I'm thinking stuff like: - What sites to use for market research and analysis. - What companies to use to set up trading accounts (that deal with foreign stocks, currencies etc.) - How to read and understand your charts. - Understanding options, puts etc. ... basically something to learn from just like you had to at some point to get to where you are now, and to be able to understand what your posts in this thread mean. Thanks.
  7. ConvertedGoldBug

    Kitco closes down

    Can anyone recommend an Android app or URL for live gold and general commodity/currency prices? Something like kitco main page, but designed for the mobile small screen
  8. ConvertedGoldBug

    GEI has moved into the Top 200,000 ranked sites

    I'd quite like it if they were kept pinned. I'm used to them where they are, and sometimes there isn't a lot of recent posts to those threads, but at least it's easy to see that at first glance, without having to go looking for them. Granted, they're probably no more important to may of the other unpinned threads, but it just seems traditional to have them pinned. "Don't like change".... etc.
  9. ConvertedGoldBug

    Buying through GEI Buttons & Banners

    Another one of your suggestions from the past, if I recall, was to make GEI have more of a front page like HPC. At the moment, it's just a forum. Have something like a news feed on an opening screen for visitors. If HPC is successful, there's nothing to stop the idea being copied. Or even something really radical... probably goes against the grain, but find some broader range themes for GEI. By this, I mean completely different, like a "lifestyle" website which covers lots of themes (entertainment, health, culture, politics, economics, investments, green issues etc.) Then the entire GEI forum as it currently stands would become just a sub-forum of the main forum. You'd probably still retain existing members who would hang around in these forums, but also attract others who might only want to discuss The X Factor or Pop Idol in the Entertainment section. It would probably increase traffic. At the moment, the themes of GEI are still rather niche.
  10. ConvertedGoldBug

    Buying through GEI Buttons & Banners

    Personally, adverts on websites are so common these days that they almost fade into the background. Once familiar with a site, every time I visit it, I just scroll past the "colourful flashing boxes" to get to the real site content that I want to read. I'd never click on one with the intention of buying something. I already have my favourite internet shops that suit me, and the high street for things that I wouldn't want to buy online. I go looking for something when I want to buy it, not the other way round. My suggestion would be to try and copy the HPC website model... see what sort of advertisers they attract. A lot of big household brand names by the looks of it, and that's because they have a lot of people visiting their site. But their adverts often tend to be more "service" oriented, rather than products (e.g. click here for special deal on mobile phone tariff). I'm not sure finding some obscure book or gardening tools supplier would get many people to click and buy something from them, particularly if there's larger players out there already with name recognition (which most importantly earns trust for people to give personal information to over the internet if wanting to buy something) So perhaps you need to continue to pursue new avenues to attract more people to the site. How about banners and affiliate links to other forums? Finance, investment, green issues... anything that this site covers really. You display banners for their forums in return for them displaying banners to yours. As I've said before, you might need to spend a bit of time contributing to these other forums (which I think you said you didn't have time to do), but perhaps if you can get a few "names" to contribute to GEI (either through interviews or direct forum postings), then you could promote these contributions on other forums. If you can significantly increase the traffic to GEI, then some big-names might see this as place to advertise.
  11. ConvertedGoldBug

    The strong Gold View "Debate" thread

    Intriguing... But "bullish" and "bearish" about what specifically? (e.g. direction of economy, housing, stocks, gold/oil prices etc.) And which one are you? (although answering the above will probably help to work that out).
  12. ConvertedGoldBug

    Mike Ruppert : "Collapse" (book, film, site)

    Similar quote used in a recent episode of CSI Miami. http://www.youtube.com/watch?v=6DwBUi48WPk (EDIT: Since when did YouTube force you to watch an advert first!!!)
  13. ConvertedGoldBug


    That's about the same price I started at as well, and to think it was only about 2-3 years ago!
  14. These figures look small-fry compared to the hundreds of billions being printed to keep the economy afloat. So, should anyone really care about £6 billion of lost gold sales anymore? And if this is still significant, then what does this tell us about the amounts we've printed to bailout the banks? If we're trashing our currency, then what's the big deal if the government spent £6 billion to buy back the gold tomorrow? Granted it would be at todays prices, but isn't it likely that it will still be worth more in the future if GBP continues to lose value, thereby potentially being seen as a good investment? In fact, of all the money being printed, how much is being invested in things of value, which could counter-balance the amounts being lost, and thereby offer the chances of a return on investment in the future which could go towards paying off the debt being accumulated now?
  15. ConvertedGoldBug


    The bit in bold made me think... If governments chose this route to wipe out debts and devalue the currency, does anyone know, based on actual countries' debts, what ratios would actually achieve this? e.g. US 50:1 UK 75:1 What initial values would be used in a calculation to work this out?