andrew

GF great to see you posting ! Yes silver is looking good. Best regards AB

Thanks for that reply notanewmember AB

*********************** "They are legal tender, contain fine silver.... they are VAT free." Do you have something to back up the VAT free statement as silver Britannia's have VAT charged on them by dealers and they also have a sterling face value. Thanks AB

The Cyprus bank account raid if it goes through would leave everyone with a deposit in a bank feeling very nervious. If I had a deposit there, first thing Tuesday morning I'd be making arrangements to empty the account in case they try the same trick a second time. But where to move your deposit to? This is looking good for physical gold. I'm also getting confused at the line between taxation and outright theft.

GOldfinger great to see you post again! As always great charts. Thank you.

That picture has made me think! In some ways the house looks good to my eyes, but in others not so........ Maybe because I was brought up in a area in London with that style of building it lacks ' depth ' to my eyes. It just feels two dimensional, the building lacks something..... The proportions of the windows are good like you say. But to me it has the feel of a pastiche. Getting to your point about charts, like the house picture, if they don't 'feel' natural on viewing I tend not to trust them whatever scale is used. Not sure that this will make sence to you guys...... : ( Thanks Sledge your post has helped my thinking.

RH I don't know how to post charts, but went to Yahoo Finance and got a two year chart comparing AGQ with SLV The result was using AGQ had no advantage over SLV at all !! You maybe increasing your risk over the two odd years time frame, without getting ANY benefit. Hope this link works........ http://finance.yahoo...n&z=l&q=l&c=SLV ******Also posted in your trading volatility thread******

I suspect that this subject will already have been covered in the past, but does anyone know if 1oz silver Britannia's are CGT exempt like gold Britannia's and sovereigns as they are considered specie ?

YES..... Or just trying to find a good entry point to put new money into this bull market!

GF............... Why did you do that ? You may have started another long consolidation. Ho well, it'll give me a chance to buy some more............

I also am looking to dispense with new turdling and have not sold a single oz. Alchemising paper into gold................. Good way of thinking of it fitkid

Your point is well taken, I have been lucky in this approach a couple of times in the past, but looking back it was gut feelinh and luck. As you say the accelerating trend lines make this an increasingly risky game to play.

At the moment I'm in the same frustrating position as fitkid, hoping for a correction to buy. Please do not be rude.

I don't see what your monster correction thought is based on from this chart, but also I'm no chartist !

So true. You can lead a horse to water, but you can't make it drink.

Thank you Laura for the frizzers link. As time goes by I'm finding myself thinking that as all the major currency's are debased more and more, a tipping point will be reached when the populations see their purchasing power dropping at an alarming rate. People will instinctively start spending savings and income as a matter of urgency, as not to do so is to accept less for it in the near future. All real necessities will spiral in fiat cost, food and energy probably the fastest. We I believe will face inflation that will be very difficult to deal with, even on a day to day basis. Fiat money will be recognised for what it is and all faith in fiat will be lost. Then we will face some panic induced 'new' monetary system....... This system, to be accepted would have to have a real tangible backing. After decades of selling and leasing away their [barbarous] gold reserves, central banks now buying gold again. I think most of us on this site guess why. [We may face a little delay in the next QE to set the scene and excuse for the next flood of money creation.]

This is a question and answer from www.weberglobal.net 15‐July‐2011 Chris Weber has great insight and has been it gold and silver since the start of this bull market. Always worth paying close attention to what he says. Q: Mr. Weber: This may never happen, but what if governments decided to back their currencies with gold and established a fixed price for gold as it was before the US went off the gold standard? Would the price of gold crash to the new price? Would the price go substantially higher because of the new demand caused by such actions? A: I think there is a good chance of this indeed happening, since we have the makings of a global hyperinflation which will end in a global currency collapse. People are slowly coming to own gold in their personal portfolios, and central banks are once again accumulating it. If there is to be restored convertibility, the price would have to be much higher than the current price. It is too soon to tell now the price range, but I think that $5,000 per ounce would be a starting point, given how things are today. But that could change. If this happened, your gold would be worth much more in terms of national currencies than it is now. The chances of gold crashing if governments restored convertibility are so small as to be zero. They would only be restoring convertibility in the first place because people would be putting much more value on gold then they do today. Therefore the market price would be much higher, and the official price would have to be much higher still in order for a fixed price to work.

£994.50 on Kitco's 24 hour gold chart! http://www.kitco.com/market/bp_charts.html

OMG GOldfinger............ Your posts have been insightful and concise, an education to all who frequent this site. I will, with many others here miss your most valuable contributions. You have been of invaluable help to myself and family in navigating these increasingly troubled times. I truly thank you for your great generosity of spirit. You carry with you my sincere best wishes and gratitude. Thank you. AB

A Day's Wage for a Silver Dime: Fact or Fiction? David Zurbuchen http://www.gold-eagle.com/editorials_05/zurbuchen120405.html

Well........... As I'm going through a messy divorce and my investment assets will be valued and divided up in June a big drop would suit me well........ Then a massive rally would really make my year ! Mind you that would make Acton Girl even more grumpy.................... I'm not selling anything before I face the 'contempt of court' threat !

Does anyone know the last high in gold £909 sticks in my mind but I'm not sure.

Yes GF a brilliant call ! Like Jake I thought such a rapid drop was unlightly. I take my hat off to you.

Thanks GF and Carlton for the thoughts on SLW. I mostly like to buy physical and do very little share buying, and at the moment and for some time have my pension and ISA sitting in cash. I have to accept that my nature really is not that of a trader. I have thought of buying SLW but hesitate because it feels uncomfortable to me that SLW and the general stock market has gone so far so fast. We can look back at 2008 and see that a good panic pushes almost everything down hard. So what to do? I find myself waiting for a good correction, but that may never come. Maybe a steady accumalation. It feels like your damed if you do, and damed it you don't. I know that what I've said is more about the psychology of investing, but that is the part I have the most trouble with. Carlton what does P&P and M&I mean?