GOLD

[InSilverWeTrust]

So it now official that unless you are ramping gold that you are not allowed to post here?

I wonder how many posters have been driven away by that kind of mind numbing stupidity

 

I tell you what, how about you troll your own 'PAPER' thread??

 

Then you can just argue with yourself all day!

 

I suppose the next thing your going to tell us is copenhagen is our last chance to save the world??

 

 

 

[electroweak]

That swine RB on HPC had to go and call the bottom of the dip!

That's the RBContraIndicator© for ya! - regular as clockwork.

[aliveandkicking]

I tell you what, how about you troll your own 'PAPER' thread??

 

Then you can just argue with yourself all day!

 

I suppose the next thing your going to tell us is copenhagen is our last chance to save the world??

 

How about you change your name to ingoldwetrust and stop arguing with this person you have created and leave me out of it please

 

Would that be possible?

[InSilverWeTrust]

How about you change your name to ingoldwetrust and stop arguing with this person you have created and leave me out of it please

 

Would that be possible?

 

at a ratio of 60:1+...now why would I do that?

[Errol]

More bickering on this thread as well, I see.

 

Amazing what volatility and extreme price movements will do to a forum.

[fitkid]

at a ratio of 60:1+...now why would I do that?

Quality.!!!!!

[fitkid]

Big difference between the ponzi paper market and getting your hands on real physical Gold.

 

 

GOLD NEWS GOLD NEWSINVENTORY DEPLETION

 

U.S. Mint now suspends all one ounce gold coin sales due to shortage of physical gold!

Once again the U.S. mint has had to suspend sales of all its one-ounce gold coins, and some fractional ones too, as its supplies of physical gold cannot meet the demand.

 

Author: Lawrence Williams

Posted: Monday , 07 Dec 2009

 

LONDON -

 

 

"The United States Mint has depleted its inventory of 2009 American Buffalo One Ounce Gold Bullion Coins. ... No additional inventory will be made available. As additional information becomes available regarding 2010-dated American Buffalo One Once Gold Bullion Coins, you will be notified." So said a memorandum issued Friday to authorized purchasers of U.S. Mint gold coins and reported by Jim Sinclair..

 

Mineweb reported only two weeks ago, on November 25th, the suspension of sales of American Gold Eagle coins by the Mint - U.S. Mint suspends American Eagle 1-ounce gold coin sales - again, which, at the time, reckoned such sales would be resumed early this month - but in the event, not only is the suspension of the Gold Eagle coin sales continuing, but also now the American Buffalo one ounce gold coin sales have also been suspended, with no new sales now planned until some time in 2010 - although the current sharp fall in the gold price may provide the Mint with a bit of respite from its supply/demand woes.

 

But supply problems also persist with smaller gold coins, particularly given the enormous demand for fractional sized gold coins following the suspension of the one ounce Gold Eagles. Thus the Mint was forced to issue a second memo on Friday saying "the American Eagle Gold Tenth-Ounce Coin inventory was depleted" and that "inventory for the half-ounce and quarter-ounce coins remains very limited." Following the sale of these remaining gold coins on Friday, the Mint anticipated that it would again offer all fractional sizes by mid-December, but in an allocation process.

 

On a more positive note for the Mint, the resumption of American Silver Eagle bullion sales will resume today. These silver coins were suspended along with the one ounce gold coins a week ago - also due to depletion.

 

The Mint had been trying to control sales by not releasing the 2009 coins for sale until late in the year - they are usually available throughout the year, but demand has proven to be enormous. This doesn't mean though that coins are not available to the U.S. public as some authorized dealers will continue to hold stocks, although these are being depleted rapidly and premiums charged on sales are increasing.

 

According to a report on website Coinupdate.com "The US Mint began sales of fractional weight American Gold Eagle bullion coins on December 3, 2009.... These fractional Gold Eagles are typically available throughout the year, but this year the Mint delayed the release to focus production on the one ounce bullion coins. After only one day of availability, the US Mint recorded sales of 56,000 of the one-half ounce coins, 58,000 of the one-quarter ounce coins, and 260,000 of the one-tenth ounce coins. They have indicated that the inventory for one-tenth ounce coins has already been depleted and the inventory for one-half and one-quarter ounce coins is limited. The remaining limited inventory will be offered via the US Mint's standard allocation process and additional inventory is expected to be available in mid-December."

 

While the shortage of U.S. Mint offerings due to demand exceeding supply is, in reality, not that significant in terms of global gold sales it does demonstrate the extent to which demand for easily available physical gold has increased over the past two years. Some of this has been the ever increasing interest by the U.S. public in gold in general and also a certain amount of distrust generated by some commentators as to whether the various ‘paper gold' offerings were secure.

 

[azazel]

You missed my point. Dogmatic certainty leads to scrapping. It's when we see our ideas as limited and uncertain, and take them with a pinch of salt, that we end up with progress.

 

The lady in blue probably has an unfair advantage with gold bars in her bag.

 

Indeed. The lady in red has paper in her bag (dry powder) and the lady in blue has gold. No contest really.

[Garincho]

I used coininvestdirect recently and found it offered a good service with tracked delivery. As for which Sovs, - I know there is a slight premium on older ones - I class this as numismatic interest so I would not pay the extra but some are willing to pay a few more pounds for them. Also the 5g, 10g, 20g, 50g ingots are worth a look - for the continentally minded!

 

Also, look here http://www.greenenergyinvestors.com/index.php?showtopic=3782

 

 

Regarding house prices: I think there will be some nominal falls (priced in GBP) to come but I think to understand how the UK housing market will unwind, have a look at Goldfinger's graph of OZ gold/UK houseprices

 

Thanks for all the info and from the other posters too.

 

I think I will go with Coininvest as I am up north and so would be looking for a delivery anyway. Have you ever heard of anyone getting a fake from Coininvest or one of the other dealers recommended to me. Or is it mainly ebay and other face-to-face sellers that you have to be most wary of? I've seen the guides in spotting/identifying a fake but just wondered if it was still a sizeable risk buying from Coininvest etc. as I would prefer not to pay extra for the proof coins.

[fitkid]

Thanks for all the info and from the other posters too.

 

I think I will go with Coininvest as I am up north and so would be looking for a delivery anyway. Have you ever heard of anyone getting a fake from Coininvest or one of the other dealers recommended to me. Or is it mainly ebay and other face-to-face sellers that you have to be most wary of? I've seen the guides in spotting/identifying a fake but just wondered if it was still a sizeable risk buying from Coininvest etc. as I would prefer not to pay extra for the proof coins.

 

 

How far north are you Garincho ?

There are plenty of quality suppliers selling at SPoT in the midlands and north pm me for the info if you would like it.

[Garincho]

How far north are you Garincho ?

There are plenty of quality suppliers selling at SPoT in the midlands and north pm me for the info if you would like it.

 

I'm in Sheffield Fitkid but don't have a car so travel arrangements are difficult. Obviously I can use public transport but I am don't particularly want to walk around with x amount of gold coins in my pocket. Do you know any reputable sellers in the Sheffield area or very nearby (Rotherham, Barnsley, Doncaster or Chesterfield)?

[fitkid]

I'm in Sheffield Fitkid but don't have a car so travel arrangements are difficult. Obviously I can use public transport but I am don't particularly want to walk around with x amount of gold coins in my pocket. Do you know any reputable sellers in the Sheffield area or very nearby (Rotherham, Barnsley, Doncaster or Chesterfield)?

i have pm'd you some but not as far north as that.

[azazel]

We need to get the thread for december sorted out BTW.

[Schaublin]

Thanks for all the info and from the other posters too.

 

I think I will go with Coininvest as I am up north and so would be looking for a delivery anyway. Have you ever heard of anyone getting a fake from Coininvest or one of the other dealers recommended to me. Or is it mainly ebay and other face-to-face sellers that you have to be most wary of? I've seen the guides in spotting/identifying a fake but just wondered if it was still a sizeable risk buying from Coininvest etc. as I would prefer not to pay extra for the proof coins.

 

I am not sure why you would want to pay a premium for proof coins - I did not know coininvest sold them. As for being worried about them (or any company for that matter) try a google search with something like company x cheats/liars/beware/ etc - should give you an idea. I only used coininvestdirect because I know someone who had used them. If you are nervous, try them with a small order and see how it goes. I agree with your caution but at some point, trust has to be given or no trading of any sort would take place.

[wren]

Lots of us on here have bought from CoinInvestDirect and I have heard of no suspicions of fakes.

 

It is surely a big dealer. I find it convenient because I can pay euros direct between bank accounts.

 

One place in Yorkshire frequently mentioned is WeigtonCoinWonders in Weighton. Several here have recommended it saying the owner is a nice chap.

 

Link:

http://weightoncoin.com/coins/

 

[routemaster]

More bickering on this thread as well, I see.

 

Amazing what volatility and extreme price movements will do to a forum.

 

From: http://www.youtube.com/watch?v=teMlv3ripSM

[301ouncer]

Hello GF/Pluto/Cgnao. Not sure even they are here. How are u doing? GF must be here as I just seen him post.

 

GF. This an old friend from 2005/6 HPC. I dont think your remember me? the one with the dinner table full!!!!

 

My goodness been years since I posted. Nice to see you still around. I will be posting more often too from now on.

 

 

[romans holiday]

More bickering on this thread as well, I see.

 

Amazing what volatility and extreme price movements will do to a forum.

I think bickering often arises from people being emotionally attached to not only their investments, but also to the ideas on which their investments are based. When the ideas are criticized/ discussed etc, this can be taken personally. The way I see it, a forum such as this should be about detaching yourself to a certain extent and discussing differences in views and ideas on an impersonal and rational level.

 

If the liquidity trade - compliments of Bernanke - is back on, gold could carry on to new heights here.

[romans holiday]

Is gold still a dollar story? Dollar looking strong today and gold down a little. Will be interesting to see how much the dollar can strengthen without some dramatic and pivotal event to push it up. The blunt message Bernanke has sent the market looks to maintain dollar weakness. I doubt gold will sell-off much here.

 

http://www.bloomberg.com/apps/news?pid=206...id=a8AIcmYws37s

Dec. 8 (Bloomberg) -- The Federal Open Market Committee will probably maintain its outlook for a long period of low interest rates next week as tight credit and high unemployment weigh on the economy, Fed Chairman Ben S. Bernanke signaled.

.....

Treasuries climbed yesterday after Bernanke set back those perceptions, saying the economy faces “formidable headwinds.” He repeated the language of the last Fed statement in November foreseeing an “extended period” of low rates and said inflation might subside while joblessness may fall at a pace that’s “slower than we would like.”

 

“Despite the positive surprise from last week’s employment report, it is way too early for the Fed to begin exiting,” said Mark Gertler, a professor of economics at New York University who worked with Bernanke on research on the Great Depression before he became Fed chairman. “When the time does come, however, the Fed will be prepared.”

....

Bernanke explained why the economy is unlikely to bounce back quickly. The job market “remains weak” while “bank- dependent borrowers” such as households and small business are having difficulty obtaining loans, he said. Consumer spending is “unlikely to grow rapidly” as unemployment weighs on confidence, he said.

 

Consumer credit in the U.S. fell by $3.51 billion, or 1.7 percent at an annual rate, to $2.48 trillion in October, according to a Fed report released yesterday. Borrowing dropped by $8.77 billion in September, less than previously estimated. Consumer credit has fallen for ninth straight months.

 

Looks like a re-run of the Japanese show to me... with the West exporting its inflation to the East this time. The question remains as to whether the export-driven Asian economies can soak up the liquidity and continue their hyper-growth.....now that the GDP of western economies is contracting. Or will they pop.

[hal9000]

Hi all, I had this article bookmarked and finally got around to reading it. Not sure where it came from (itulip I think) or when it was written, I think it's a good read.

 

So when the bottom falls out will gold holders be seen as heros or villains? My guess would be villains (hoarders) making it easy for governments to wack a 90% cgt on it or outright confiscate it.

 

A return to the Bretton Woods international gold standard created in 1944 is inevitable

http://fourthcurrency.com/

 

Of particular interest to me was the snippet below:

 

Will gold re-monetization make me rich if I own gold?

 

Is gold re-monetization good for gold owners? We’ve seen calculations of potential future post re-monetization prices such as those suggested by Larry Edelson over at Money and Markets ranging from $5,300 to $53,000 per ounce. We have since 2001 forecast a $5,000 peak gold price, but that estimate is based on a set of metrics, such as the ratio of gold to the DOW that we anticipate at the top of a global currency crisis, not post re-monetization gold reserve ratios. Less important than the gold price to gold owners, however, is the ugly political and legal environment, not to mention the social atmosphere, that is likely to exist at the time that economic conditions drive international parties to the table to hammer out a new international gold standard.

 

The range of future popular opinion of private gold holders under those drastic circumstances ranges from villain or hero and everything in between. If gold owners are vilified, you can count on a less than friendly government policies on gold taxation and possession. The 1933 confiscation was strictly old school; the modern approach is more likely to take the form of a 90% capital gains tax on private gold sales with high penalties to encourage sales to the government at a fixed price and slow a popular rush to the metal, and of course create an enormous black market in the bargain. If that sounds paranoid, you haven’t been watching the news lately.

 

To time a new international gold standard you have to think in terms of the G-20 time-line. A year into the debt deflation, global leaders have yet to acknowledge it is the root problem, let alone do anything but issue vague “should do this” and “should do that” official statements, let alone propose a radical solution like gold re-monetization to bring the devastating effects of debt deflation under control. Our forecast two years ago of a severe post housing bubble recession was strictly tin foil hat at the time, as was our call of a bottom in the price of gold 2001, as this latest forecast will appear to many.

 

 

[carbon junkie]

Is gold still a dollar story? Dollar looking strong today and gold down a little. Will be interesting to see how much the dollar can strengthen without some dramatic and pivotal event to push it up.

Aahh, now you are beginning to think straight.

 

Dollar index is a paper index not much use anymore for predicting gold over an extended time period.

[romans holiday]

Hi all, I had this article bookmarked and finally got around to reading it. Not sure where it came from (itulip I think) or when it was written, I think it's a good read.

 

So when the bottom falls out will gold holders be seen as heros or villains? My guess would be villains (hoarders) making it easy for governments to wack a 90% cgt on it or outright confiscate it.

 

A return to the Bretton Woods international gold standard created in 1944 is inevitable

http://fourthcurrency.com/

 

Of particular interest to me was the snippet below:

There was a similiar convesration along these lines on Bubbs diary a while back:

 

http://www.greenenergyinvestors.com/index....mp;#entry144311

 

The discussion was about whether governments would necessarily be hostile to private gold with a restoration of a gold exchange standard. Personally, i think it will be a simple case of the price being capped/ fixed at a certain point... which would effectively mean the fixing/ stabilizing of the currency... with holders of gold simply swapping for the new sound currency. Good deal all round.

[carbon junkie]

Looks like a re-run of the Japanese show to me... with the West exporting its inflation to the East this time. The question remains as to whether the export-driven Asian economies can soak up the liquidity and continue their hyper-growth.....now that the GDP of western economies is contracting. Or will they pop.

It's like a rerun, but this time the game is far more deadly.

 

US is doing all it can to break the Yuan Dollar peg devaluing the dollar brings a tidal wave of inflation to Asia (if they continue the peg!).

 

The pop will be the end of the pegs hyper for the West deflation for Asia.

 

In the meantime Japan is about to pick up the bill for the last twenty years.

 

Lots of fun to come!!

[warpig]

Yes Richard's a nice bloke, I would prefer to buy from him in the future where possible.

 

Lots of us on here have bought from CoinInvestDirect and I have heard of no suspicions of fakes.

 

It is surely a big dealer. I find it convenient because I can pay euros direct between bank accounts.

 

One place in Yorkshire frequently mentioned is WeigtonCoinWonders in Weighton. Several here have recommended it saying the owner is a nice chap.

 

Link:

http://weightoncoin.com/coins/

[romans holiday]

Aahh, now you are beginning to think straight.

 

Dollar index is a paper index not much use anymore for predicting gold over an extended time period.

I think it is likely that at times gold will be a dollar story where the two move inversely... and then at other times it won't. At some point, most probably the next liquidity crisis, the dollar and gold could well move up together..... and then they could both move down together for a period if the market was optimistic enough about the economy. But thinking doesn't make it so.... not in the long run anyway.