lubi29 reacted to sixgun in Kinesis Gold and Silver currency
i got a notification today from GoldGuard who are involved in the OneGram gold backed digital currency. i joined their website last year when they kicked off, initially i thought about investing.
They were announcing 'The first Shari'ah compliant digital asset backed by physical gold [OneGram] has gone live with its first transaction carried out successfully, today.-
The blockchain will be open to OGC holders soon. Starting June 20th to July 30th, you will be able to claim your OGC from the GoldGuard Platform. Full instructions on how to claim your OGC will be sent to your emails before these dates. Meanwhile the process of listing OGC on different public exchanges is going to be announced in the coming days.
lubi29 reacted to Numistacker in Heritage Auction Consignment (New Numistacker Service)
As if life isn't busy enough with my day job and taking in coins for grading at NGC I am very pleased and proud to launch a new service that I hope will really help forum members and others to tap into the USA coin auction scene. I have found that items that are between say $500 and $1,000 are not that easy to enter into high end auctions where they can be marketed to top end buyers and Heritage for example would normally only be prepared to take singles or lots with a value overall of say $4,000 plus, so I have arranged with Heritage UK to act as a consignment consolidator and thus provide a route to auction for the kind of items that you guys have in your collections and that you have been sending me for grading and conservation.
Heritage have regular weekly internet only auctions and regular special auctions for both USA and World material. These larger auctions often get great prices for good world coins and they represent a great marketplace for our coins. The top end auctions are "Signature" or "Platinum" and coincide with the major USA coin shows. I have already consigned the first coin to the Platinum Auction with an estimate of $8,000.
Bidding will start at 50% of the agreed auction estimate and once an item is consigned it cant be reclaimed and will be entered at auction in the USA via Heritage UK. All items will be transported to the USA fully insured. There is a minimum estimated value per item of $500 and no maximum value. You are welcome to consign more than one item to me.
How does the system work?
Heritage will sell your item in US$ and then 40 days after the auction is complete will remit the funds to Heritage UK who will remit the funds to me and I will then immediately send you the proceeds. The buyer will pay the hammer price for the coin at auction and a buyers premium of 20% of the hammer price. You as a seller will get the hammer price of the coin less a % charge that depends on the hammer price of the coin.
Examples A gold coin sells for $5,500 at Heritage Auction, the remittance to you will be $5,500 less 2.5% consignment charge which will be $137.50 so $5,362.50.
Is it worth using this service rather than ebay? For some items yes definitely and others no. The benefit of ebay is immediate cash payment for the item but there are risk attached and if the item is specialised then it can be dangerous to use a low start auction and fixed prices can attract no buyers.
Do coins sell for more in the USA than the UK? Have a look at the Heritage Auction Price history and judge for yourself. I have seen UK coins go for great prices at the larger Heritage auctions and so if you have the right material then it may be the kind of thing that will work for you.
If you think that you may have something that would be worthwhile to send to Heritage for Auction then send me a PM.
I will be adding to this thread just like the other NGC grading thread over time. Talking about coins that have been consigned, perhaps reviewing consignments on the youtube channel and reviewing prices obtained at auction to monitor how this is working for consignees.
Interested to know what you think and whether you think that this service will be something useful and fill a gap in the market.
lubi29 reacted to sixgun in Kinesis Gold and Silver currency
There is a webinar on kinesis
Introducing the Kinesis Monetary System and the KVT ITO
Thursday, June 7, 2018 2:00 PM - 3:00 PM GMT
Places are limited, to secure your spot please register here:
lubi29 reacted to Paul in Working for Nothing - Modern Day Slavery Act 2015 - Asda
Howdy, I have just had to leave the peaceful confines of home and venture into the real world
As with everything in life, there is no shortage of things to pee you off in a very short space of time
I find out last night, it is a very good neighbor of mine has his birthday today, so nip in the car and shoot to my little local Asda. x5 bottles of different craft ciders and a card - job done, what could possibly go wrong ?
I go inside, there are now x8 of those self-serve checkouts, I loathe and just one manned counter in front of the cigs.
So I go to the only staff nearest to these machines, and ask "Can I pay for these please"
"You have to use the checkouts", I reply "I am at the checkout now, could you please do it"
NOPE - muggins here has got to. So, not only am I putting coin in Asda pocket I now having to undertake unpaid work for the privilege.
Well, stuff that, that is Asda on the blacklist to avoid now.
Well, I'm now back home decided to pen them an email of complaint to get my cash I'm due (see below) I will let you know how I get on and see if I get my wages for today !
Please feel free to copy and use it yourself if it works
Just to make you aware of the minimum wage at work, sadly as you may like to have in an ideal world "I do not work for nothing"
I was told today by a surly member of your staff I HAVE to now scan my own shopping,
I have to undertake unpaid work. I refer you to "The Modern Day Slavery Act 2015"
"Slavery, servitude and forced or labour
(1)A person commits an offence if—
(a)the person holds another person in slavery or servitude and the circumstances are such that the person knows or ought to know that the other person is held in slavery or servitude, or
(b)the person requires another person to perform forced or compulsory labour and the circumstances are such that the person knows or ought to know that the other person is being required to perform forced or compulsory labour.
(2)In subsection (1) the references to holding a person in slavery or servitude or requiring a person to perform forced or compulsory labour are to be construed in accordance with Article 4 of the Human Rights Convention.
(3)In determining whether a person is being held in slavery or servitude or required to perform forced or compulsory labour, regard may be had to all the circumstances.
(4)For example, regard may be had—
(a)to any of the person’s personal circumstances (such as the person being a child, the person’s family relationships, and any mental or physical illness) which may make the person more vulnerable than other persons;
(b)to any work or services provided by the person, including work or services provided in circumstances which constitute exploitation within section 3(3) to (6).
(5)The consent of a person (whether an adult or a child) to any of the acts alleged to constitute holding the person in slavery or servitude, or requiring the person to perform forced or compulsory labour, does not preclude a determination that the person is being held in slavery or servitude, or required to perform forced or compulsory labour."
So, It took me a total of 4 minutes to scan my few items, ironically it would have been sooner had the errors the machine made, a staff member still had to put right!
So although I will take a wage cut in this instance, ( as I can see Asda dont like paying top dollar! ) to show fairness I am due to be compensated 4/60th of £7.83 for my forced labour today in your store, additionally, I would seek another 6/60th of £7.83 for the 6 minutes it has taken to find my sources and pen this complaint.
So 10/60th of an hour in total worked or 1/6th of an hour worked
1/6 of £7.83 = £1.305
£1.30 will be totally fine
I will forgo the .005p I am still due as I can see times are hard at WalMart HQ with your CEO C. Douglas McMillon only taking a salary of only $22,179,961 last year, those 0.005p sure do add up
Please send payment to the address above, for my work today, please send payment only as a cheque, not as Asda gift card/voucher as this the last time I will be using your store again.
PS thanks also for rubbing our noses in it some more, on your receipt " Save Money, Live Better " lol I can you are very right !
lubi29 reacted to MickB in Lets talk Whiskey
My local Tesco had a few single malt whisky's on offer. I had an early morning text from a work colleague who told me they only just put them out and won't last long and he wasn't wrong as I went back again in the afternoon to see the shelves empty of the ones I had bought in the morning.
The Jura 35cl bottles were £5.50 each.
Odd that not every Tesco is doing the same offer.
lubi29 reacted to sixgun in What does it cost to dump the gold price $20?
Today the 10 year US Treasury yield spiked through 3%. We saw the USD strengthen against other currencies and precious metals get hit. For anyone who denies both gold and silver are money, that they are currencies, why would we see such significant movements when bond yields and currencies are moving?
A short position is where a GC (100 oz gold) contract is sold. The buyer goes long. If the short seller buys the contract back they have covered their position and are out of the market. The number of open short and long contracts always match exactly.
If the margin of this sort of futures trade is 20% then the seller must have at least 20% of the selling price in their account. So $1.75 billion x 0.2 = $350 million. Much small margins are likely to be operating which is why banks get so over leveraged and when trades go wrong it spells catastrophe.
This is central banking/US Treasury Department directed price management (manipulation) - we have seen this many times before. If these short contracts are bought back at lower prices there is profit in the move. The issue arises when longs stand for delivery. This is the cost, not a paper cost. The Fed with the US Treasury can push buttons and create $trillions. The problem comes when the longs don't want paper currency and they don't want to roll the contract into the next cycle. The problem comes when they want gold and even more so when they want silver (there isn't as much silver about). Longs standing for delivery has been happening more and more which is why the EFP trade has exploded.
These antics bring forward the reset. Drop the price and the physical buyers step in. More gold and silver will be heading to Russia and Asia. This is the cost. It is another crack in the US dollar system and a step nearer its collapse.