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Everything posted by Martlet

  1. There's far more to markets than selling at lowest price or high quality. Convenience, tastes, reputation, so on have surprising large influence on buying behaviour. A few round here know about this, collectors are not buying the lowest price or highest quality. In some key areas there is no benefit from competition, or it is undesirable (law enforcement, water, roads for example). I dont advocate large state, far from it, I accept there a place for taxation in funding services (upto a point), see it as another form of investment. In most countries when you dont pay taxes you face fines and imprisonment. Is it neither arbitrary or cruel, its enforcement of law we have chosen to support for decades. It can be excessive, even punitive, but it isn't tyrannical. Yes i'm being literal, its hyperbolic term and misuse devalues its use where governments are truly oppressive, such as those low tax Islamic states noted earlier.
  2. Here's where the discord has crept in, from socialist merging economics and politics so much people assume they are the same. Markets are economic system, not political. Its quite compatible to have the market providing services for the state that we decide through democracy we'd like to have as a society. Pay taxes, government sets standards for service (you know, policy), seeks providers for the service, with some provision for core services not economical to provide in the market. Does not have to be all or nothing. Also, tyranny is defined as exercising power in a cruel or arbitrary way. No one in the developed world lives under tyranny.
  3. A Nano/Ledger is like having funds in safe, nice a secure but not to hand. Mobile wallet app having funds in your wallet. It will help adoption, tech media will talk about, some people will try it who wouldn't otherwise.
  4. Easier to do when you have massive resources to gain tax for revenue. Unless a nation has low population and/or resource base, the idea of low tax doesnt work really, larger populations require, demand, public services.
  5. I recall there was a story where just that happened, £'000 worth of sovereigns including sets found in one house clearance. All too minging for me, i like a bit of bric-a-brac, but the way some of these people live is a public health hazard. More likely to find mice and mould than decent collectables. People only publish the success stories.
  6. If £ rises sharply on favourable Brexit scenario, gold softens to price from around September, could see sub £900. Unfavourable £ and gold to highs of 2018, we'll see £1200 delivered.
  7. Price is supposed to give you an aggregate of supply and demand, based on fundamentals. Chartists, technical analysis isnt interested in the fundamentals, its looking for information in the price movements, patterns, showing underlying trend of supply/demand, more likely showing mood of traders. Its really about looking for price movement in the absence of fundamental data (which changes infrequently), for short/medium term change, or forecasting target prices (if it trend goes down it will go 5%, go to around this number, so on). To do this requires reading the largest, most liquid market, as it give the clearest signals, least affected by macro-economics outside the asset. Watching the £:AU price is going to give a poor signal, it could show a sharp move about to happen then local numbers shift the £:$ against that.
  8. Well the top 1% earners pay about 27% of income tax, top 50% earners pay 90% (UK), so i reckon the rich and better off pay a fairer share. Certainly more than the advocates of redistribution will acknowledge and admit. I dont mind tax per se, for law enforcement, education, healthcare, even some social support, and we pay plenty. However wealth tax is too far, its simply born of envy, engineered to punish those who have accumulated wealth through effort or good fortune and already taxed at least once. Its also destructive, to pay for the tax you'll likely need to divest some of the wealth, thus reducing its value. But then thats part of the idea, to "share" the wealth even if there is less in total. Imagine someone having to sell their business to pay the wealth tax, who is this going to help? The only political activists who support wealth tax are socialist who want state ownership and control of everything.
  9. They could reduce prices down to 0 if they wanted, as they do free trains for staff? Fares have little resemblance to the cost, they set a price structure to offer discounts to promote use off peak. I've been a London commuter, expensive for the yearly ticket but ~£18-19 if you work it out daily, which i consider pretty reasonable, and cheaper than road with parking and congestion tax. Rail is massively subsidised, so i wonder if people want higher taxes to keep prices lower?
  10. It is entirely the point because countries currency are not being determined by the gold price or vice versa, so charts based on anything other than $ are going to give false signals. A currency with a positive story could rise 5-10% and the relative gold price fall even with headline $ gold price rising. i.e. your trading on fundamentals, not technical analysis.
  11. Thats about right. The use of Tether and aims for KAU are quite different its not a good comparisons. The relatively high transaction fee will restrict that market, and their exchange is unlikely to have the volume to attract serious BTC trading. The idea of holding in KAU instead of Tether is a good, just unlikely to generate significant turnover. The main problem for KAU is obtaining the $800bn in year one to reach the projection. After a number of years, it might build up to that sort of size, but from here thats too far.
  12. Im not even too bothered if they send me their next discount deal. Not their regular stuff, thats the rip off story Daily Mail should be writing stories
  13. Tether is funded by major exchange(s) depositing funds with a bank and creating an amount on the Bitcoin blockchain using something called Omni protocol, so in theory its backed (its been controversial as to whether it really is 100%). The reason for comparison is because its traded an awful lot on exchanges for other crypto currency giving a high amount of turnover. That being the correct term, its not velocity as there is no actual produce or service, as used to measure velocity of money. It served a purpose to show the potential of KAU as money, however imo led to overselling the idea because its not going to be used to trade $'00 millions of cypto every day. With only ~627 holders I dont believe there is enough traction for this to work as it stands, even using funds to buy and circulate KAU.
  14. Martlet


    Very fake. Type face is wrong and in the ebay pictures the hair is wrong with lines too deep (common on fakes). Too shiny for a bullion Krug too, while definitely not proof finish. Also nose hooks down, I think they do this one deliberately so able to say its a copy for local law, a lot of fakes have an obvious flaw.
  15. Not quite true, this was about the only area they seem to have done right. Remember all the talk of a near £100Bn exit bill, with far fetched expectations of payment for projects, now fallen to £39Bn? That lower figure is taking account of assets and existing loans.
  16. Its expected to be the Yale of Beaufort and due in March.
  17. Cant help on tube (ebay?) but note Royal Mint sell individual 1/10th coins in a capsule, and dont think i've seen anyone cheap inc postage (special offers aside).
  18. You're saying its greedflation to take a basic commodity, apply some labour to sort for quality and add presentation ? Might want to think on that I'd call it adding value, and its up to people if they want pay for the service. It also benefits you as the higher margin goods boost the retailer's gross margin, so they dont need to add so many pennies to the loose product. Yes, you've got it. Individuals may not change purchases, if one in 10 might dont buy the product based on a higher price, thats lost revenue and reduced turnover. And we shouldn't see this as hidden or underhanded, its in plain sight if interested to see. As consumers we still obtain the goods we desire, and lets face this applies to luxuries. Though agree some chocolate bars in some shops are ridiculous (bearly larger than fun size), we can chose to seek out a larger size elsewhere. This is market economics, it works well enough. Anyone want controlled economy with government directed prices?
  19. My interest has been piqued recently on Mexican coins, and further afield as i buy modern base metal coins for my lad. With so many different countries, regions, silver or gold, age to consider, do you have any pointers or resources?
  20. After the slim pickings in my budget, decided i would go for the 2011 proof... only to find its gone up £50!!
  21. Martlet

    Sovereign mintages

    Marsh book ordered.
  22. Martlet

    Sovereign mintages

    Is there a good, reliable source for sovereign mintage, in particular proofs, that record sales in addition to headline limit? Is the Marsh book good for this sort of information?
  23. @KDaveYes, accept the dependency on third party infrastructure for crypto, just highlighting that gold isn't without some dependency. Where can you use/trade the gold panned in the stream? Even in an economy based on commodity money, theres an assumption the commodity is standardised, i.e. a coin. Then as we develop mature economies we have banks and other third parties to function. The existence of the gold is not the whole of its value, specific form and systems to store and transfer it (as backed IOU) give it greater utility. BTW i agree the point about decentralised currency being redundant while we have existing fiat trade. I believe a lot of the idealism around crypto overlooks many people already have free and actually instant transaction (and many of those that dont are lacking in third party infrastructure). A year ago it was considerably more expensive slower and to move Bitcoin than £ between accounts (around £30 at one point and would still be half hour for confirmations to be accepted). Its clear that the focus of crypto has shifted to store of value, and fund raising vehicle. There is also an inherent contradiction i believe, in the concept of using them as currencies, as you increase the use there is a constant selling pressure. This should lead to a stabilisation of value (good) but then no lambo moon (bad... right?). Cryptocurrencies should be measured as along lines of of GDP, not market cap like companies, then perhaps we will value them correctly.
  24. Weakening magnetic field, increased solar winds, with lower solar output, and increased volcanic activity... what are the odds of those things together?