Any gold left over there?

[tael]

Just wondering if you guys (in London) have any gold left?

I've noticed the planet is starting to tilt EAST, maybe it's because of all that gold shipped over there.

 

[thesoundman]

Enough for the people who want it 

 

Gold/ Silver seems to have dropped off the radar for 99.5% of the british population.

[Danny-boy]

Enough for the people who want it

Gold/ Silver seems to have dropped off the radar for 99.5% of the british population.

Agreed, in the few instances I have told friends that I stack silver bullion, they look at me like I'm a spanner.

I think I'll keep the bitcoins quiet, only told one person about that and he just raised his eyebrows and thought I was stupid.

[DrDime]

I live in London and you can always get gold if you want to. Sovereigns are always available. Having said that I talk to the dealers in the jewellery / precious metals quarter here and they say that not many people are selling to them recently. It means there are limited options (if you want a particular coin it's going to be difficult). For larger amounts I have no idea of the score.

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[tael]

I assume on a large scale, inventories are dwindling down...

http://www.youtube.com/watch?v=yewuiAJyJco

[HighlandTiger]

I live in London and you can always get gold if you want to. Sovereigns are always available. Having said that I talk to the dealers in the jewellery / precious metals quarter here and they say that not many people are selling to them recently. 

Interestingly, I walk past my local Cash Converters once a week, and for months it had a single sovereign in the window at £280. This week they had 4 half sov's at £140, (Vic to Liz) and 7 Sov's at £225, (mix of Vic, Geo, Ed, Liz), and about a dozen sovs in rings at various prices. Someone around here has certainly of-loaded some gold in the last week. 

[DrDime]

Prices in pawn shop type places are ridiculous sometimes. I was in a pawn broker yesterday in hammer smith and they were asking £360 for a standard sovereign. £190 for a half. I don't know if they expect to get haggled down or they don't want to sell them or if they just wait for someone who doesn't know what they're doing to come along...

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[garthy]

I assume on a large scale, inventories are dwindling down...

http://www.youtube.com/watch?v=yewuiAJyJco

 So the story goes as I understand.

 

The bank of England have in their possession 4600 tons of gold of which they only actually own 310 tons after Gordon Brown our unelected  prime minister sold 400 tons for $250 an ounce, I still can't believe that! Apparently He thought it was a good idea to own euros instead??!! Just what was He thinking? 

So for some reason the rest of the world thought it'd be a good idea if the UK and the US hold all their gold for safe keeping, lately there's been rumors that gold has been steadily shipped out to Switzerland melted down and recast with a Chinese stamp haha, obviously some countries are getting a little nervous about their gold still being in safe hands in London, just in the last week Austria and others have asked for their gold back.

 

My feeling is most of the gold's no longer there, it has been shipped East, No one really knows how much gold China now own, but I've got a feeling it's a lot more than the media are saying, now if the US and the UK have been secretly selling other countries gold to China who knows what may happen? But we may soon find out.   

[silversword]

...now if the US and the UK have been secretly selling other countries gold to China who knows what may happen? But we may soon find out.

What will happen is the perpetrators will walk away scot-free and any reparations will be borne by the taxpayers for generations to come, and the public will bend over and accept it because doing anything more than posting a badly-spelled status update on Facebook is too much effort.

[thesoundman]

The bank of England have in their possession 4600 tons of gold of which they only actually own 310 tons after Gordon Brown our unelected  prime minister sold 400 tons for $250 an ounce.

 

The Bank only owns one bar and that is in the museum 

 

The Bank for England is not part of the UK Treasury.

 

*that could all be cack but it was what I was told when I was there last * 

[DrDime]

Have you been to the museum? They let you pick up that one bar. It's quite heavy

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[DrDime]

:-| I should finish reading posts before replying ....

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[thesoundman]

Have you been to the museum? They let you pick up that one bar. It's quite heavy

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Never been in there yet, I can get for free as well    

[DrDime]

Yes it's free to get in. Worth a look and you get to hold a piece of gold worth £400,000

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[Pete]

Why is no-one selling their gold ?

Obvious - it is priced far too low

 

Pawn shops asking £190 for a half sovereign !

Having a laugh selling to the ill-informed when full sovereigns are advertised by bullion dealers in London for about £180 each.

Buyer beware !!

[Danny-boy]

They generally work on what people know.

12 months ago, we buy your gold places were advertising the silly high gold prices.

The pawn shops are preying on those that still think it's worth lots, and too lazy to do their homework.

[Pipers]

Someone will have to go into a busy Pawnbrokers and just offer what a sovereign is worth.  Then just look around when you say in a loud voice you can get them at (name a dealer) for £185 because you can bet they won't lend or sell for more than what the gold is worth.

[Cointreau]

I've noticed that the young head sovereigns are becoming harder to get hold of. And that they're getting

more expensive despite the gold spot price falling.

[HelpingHands]

I thought Brown sold the gold at the bottom to 'We haven't got any Gold, man!   (sachs) as a bailout.  That could have been the warm up act for the current dip.  But which countries have any left to sell?

 

Oh, found one: http://www.mining.com/goldman-sachs-buys-bullion-from-cash-strapped-ecuador-55876/

[tael]

IMHO, GOLD AND SILVER ARE REAL MONEY AND HAVE BEEN FOR THOUSANDS OF YEARS!!

 

Fiat is debt, and based on history, it's value is very much in question.

 

They are currently accepting fiat to purchase real money and as long as they do so, I will take my limited means, and take advantage of the current situation as it may not last too long.   

[silversword]

I'm not sure we can really say fiat is debt, because it doesn't have to be. In theory governments could just issue their own currency without having to borrow it into existence. This would only work of course if the government could be relied upon not to massively increase the money supply every chance they get, and banks would have to completely revise their business models; history and human nature tells us that this would be almost impossible, otherwise a purely fiat based system might have worked.

 

It's precisely because governments, monarchs, dictators etc. cannot be trusted to exercise any restraint in fiscal matters, and that bankers are [censored], that some sort of hard money is required, something outside of government and bank control. Gold and silver could do the job, as they've proven to for centuries in the past. It's going to take one hell of an event before that happens, so now is the time to stock up.

[ChrisSilver]

some sort of hard money is required, something outside of government and bank control. Gold and silver could do the job, as they've proven to for centuries in the past. It's going to take one hell of an event before that happens, so now is the time to stock up.

Russian Altyn - new gold backed currency for the Eurasian Union.

[tael]

In theory governments could just issue their own currency without having to borrow it into existence.

 

I agree 100% with your complete post, but I'll add this little caveat as applies to the partial quote above...

 

Government leaders who do decide to exercise monetary sovereignty, sometimes meet an untimely and mysterious DEMISE

[silversword]

Government leaders who do decide to exercise monetary sovereignty, sometimes meet an untimely and mysterious DEMISE 

 

Not good ol' President Jackson though: Ensured the collapse of the US central bank, and battered a would-be assassin with his cane. I'd say we need a few like him, except his treatment of minorities left rather a lot to be desired...

[tael]

Yes, we need another Jackson, last president to PAY OFF the national debt.

It's somewhat ironic that his face is on a $20.00 "federal reserve note".