stevecook172001

I should also say, I have another 5k waiting on account with Bairds. Just waiting to see which way the wind blows over the new year and early January before buying more

Hi there Enrieb. I agree, it may well be linked to the growing tensions between Pakistan and India. By the way, thanks for your PM to me on the HPC site. Much appreciated mate.

I didn't expect to cover commsion charges before early spring Lets see if its a blip......

I put 5k in on Dec 15th hahahahahaha!

WTF just happened to gold!!!!

Lots and lots of bad debts are being monetised onto the balance sheets of banks. When this bad debt was just plain old debt, it's inflationary effects were offset by the fact that as the debts were paid off the money that had been created with the loan was being extinguished over time by taking the payments out of the wider money supply All of the loans have been paid early with new money. We have taken all of that potential money from the future and forced it into the world of today. It will not stay on the bank's balance sheets for long. It will be itching to find a new speculative home to go to. The banks will certainly not be lending it to us again any time soon. This is because the real-world economy is contracting (and will continue to do so for reasons of real resource constraints). So, where will it go? The answer is it will go to the only safe asset left in town. commodities. In particular, essential commodities since these will be the safest asset class of all. This will have the effect of pushing commodity prices up to such unimaginable levels as to make the recent rise in price we have witnessed seem like the mere aperitif to the main course. Aty which point, gold and silver will go ballistic.... How far are we away from this? buggered if I know....maybe a year of so.... So, to be honest, I am loving the current collapse of the price of gold. The bigger the drops, the happier I am. Picking the boittom will be a bugger, of course. When I feel that it has reached bottom, I shall be buying in an amount of physical per month to smooth out the peaks and troughs. If the inflationary pressures start to clearly show themselves, I shall acccelerate the process That's it That's my analysis That's my strategy Good luck to us all

ermmm... My feeling for some time is that deflation was absoloutely on the cards I may have been wrong

It's interesting to note that the collapse of oil over the last few days has not been accompanied by a similar collapse in the price of gold. Are we witnessing the first signs of de-coupling?

Massive deflation is coming. It simply has to as a function of high commodity prices. Unlike some who argue that high commodity pricesd are entirely down to inflation of the dollar, I would suggesat that a good portion oif it is down to supply constraint which are themselves down to the price of oil which underpins the production and transportation costs of everyhting else. It may be that we get as complete deflationary implosion of the global fiat system. who knows how fast this could all unravel. In whgich case gold and other p0recious metals will come into their own in terms of storage of waelth. However, for the short term, holding fiat in the form of physical cash seems the way to go.

yes, this is what I am hoping for, to be honest

Thanks for those steve. Very informative

Are you Yorkie compounded? I'm from York

the percentage change in the value of gold in both dollars and pounds is in the table below for August

hi bobsta Just done a quick calc gold has indeed risen in value overt the course of august in UK pound terms

Am i talking sh*t or has gold gone up in value in UK pounds over the time frame shown in the table below?