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Royal Mint to Launch Digital Gold


Scuzzle

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Have I got this wrong or does this just look like an attempt to snare the ordinary punter into a futures contract type scam where the real product is never delivered.  This looks to me like you buy a gold coin and the Royal Mint holds onto it for you and gives you a blockchain receipt to say you own it. Could it be they are running low on gold.

 

http://www.royalmint.com/corporate/news/the-royal-mint-and-cme-group-to-launch-royal-mint-gold

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What is on offer is a system where gold is bought and held by the Royal Mint. A digital record of ownership is made. Owners can buy and sell their gold via a trading platform.

This is in effect like the ETF GLD. The GLD ETF allegedly holds gold in a vault(s) and this gold backs the shares. So roughly 10 GLD shares = 1oz gold.

The thing is ordinary folk cannot redeem their shares for gold and it is doubtful the amount of gold in the GLD vaults matches the number of shares in circulation.

GLD is a way in which the powers that should not be have built up a fund of gold they can plunder when they need it.

This Royal Mint offering suggest to me the RM is finding the supply of gold tight. If you want to buy large quantities of gold you cannot get it at the spot price, it is much higher. The coins are in reality being sold at a discount, at a loss by the Royal Mint. So by having this system they don't need to have the gold, it is a paper exercise. I expect there will be a clause where the holders of gold can be settled with cash. They will settle you for cash and you won't enjoy the big rise in price when the price reset in gold and silver comes along [which it certainly will].

Avoid.

If you want to trade physical which you have vaulted and really exists then sign up for the Allocated Bullion Exchange.

Always cast your vote - Spoil your ballot slip. Put 'Spoilt Ballot - I do not consent.' These votes are counted. If you do not do this you are consenting to the tyranny. None of them are fit for purpose. 
A tyranny relies on propaganda and force. Once the propaganda fails all that's left is force.

COVID-19 is a cover story for the collapsing economy. Green Energy isn't Green and it isn't Renewable.

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5 hours ago, sixgun said:

If you want to buy large quantities of gold you cannot get it at the spot price, it is much higher.

Is this supposition or do you know it as fact? How much higher?

Profile picture with thanks to Carl Vernon

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When i last saw numbers gold was around $1200 and the premium was about $50 - 60/oz. Traditionally price is by negotiation for amounts over 6500oz. i get this from a guy who is a wholesaler. 

Always cast your vote - Spoil your ballot slip. Put 'Spoilt Ballot - I do not consent.' These votes are counted. If you do not do this you are consenting to the tyranny. None of them are fit for purpose. 
A tyranny relies on propaganda and force. Once the propaganda fails all that's left is force.

COVID-19 is a cover story for the collapsing economy. Green Energy isn't Green and it isn't Renewable.

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1 minute ago, sixgun said:

When i last saw numbers gold was around $1200 and the premium was about $50 - 60/oz. Traditionally price is by negotiation for amounts over 6500oz. i get this from a guy who is a wholesaler. 

I'll certainly remember this the next time I need >6500 oz :D

Profile picture with thanks to Carl Vernon

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18 minutes ago, sovereignsteve said:

I'll certainly remember this the next time I need >6500 oz :D

from sovereign garden wall to sovereign castle ...... I WILL REMEMBER THAT

MY TOTAL FORUM TRADE FEEDBACK IS 100 AND IT IS 100%

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