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Martlet

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Everything posted by Martlet

  1. My view is there is a weak correlation and AGW should be considered, lightly. The data has been grossly distorted, on both sides, so its virtually impossible to know anymore what is authentic information. The poster child, the hockey stick graph does not match CO2 rises, so this makes me sceptical, along with decades of predictions that have not been proven. On the other hand we're already reducing CO2 by being more energy efficient, and if we make less pollution and have cleaner air as a result, that in itself is something to sign up to. There is a lack of scientific rigour to the information and theory though, in other fields it would have been thrown out or restated at least, not renamed and double-down. A great number of scientists have discovered a source for funding if they are on message (or find its not available if off message), often non-climatologist will stress the importance of reducing CO2, and i wonder how they would feel if climatologists weighed in on their field.
  2. That may be the case with retail investors, i would expect the vast majority of trade in ETF and similar are by banks and institutions well aware of the nature of the instruments. Either way, such instruments arent counted in market cap, futures in Apple or Vodafone dont count in the market cap for Apple or Vodafone. It isn't ignored, it shows up in measures of that derivative market and other market data.
  3. The Silver Institute reports between 684m toz and 895m toz mined a year past 10 years. This cross checks (with some margin of difference) to numbers from USGS. Thats about 8bn toz out of the ground in 10 years and not counting rest of history. Reporting beyond this is unreliable with lots of estimates, with how consumption in industry, in bullion, jewellery or silverware affecting how much is "available" in the market. I see one estimate (JM Bullion site) reckon there's 5bn toz available, seems on low side given this is about what we have from just the past 10 years in bullion, jewellery and silverware, but in the ball park. So that gives a range of 75-120bn market cap, if the market is the amount that is available. High $trillion estimates are counting the turnover of ETFs, options etc, and we wouldnt normally count that as market capitalisation.
  4. For anyone concerns about Transferwise or Revolut, can say they are both easy to use and useful if ever wanting currency transfers for other purposes. Transferwise is easier for me as its PC browser based, better UI, and you can fast payment from debit card for about £1 added fee - no waiting a day for bank transfers to the account. On subject of European Mint, some feedback if you can encourage them to expand their selection, particular the Rwandan series and Libertad are noticably missing.
  5. Sounds like the problem isn't Ebay/UK per se, instead the business model of selling small value items on a relatively high rent service that's had a significant change with VAT status. I suspect many sellers aren't VAT registered to worry about that cost, work around, or scale up to compensate. Isnt the VAT on ebay, paypal fees reclaimable and post zero rated? I often wonder buying small items for >£2 how the seller is making any money, buy bulk at sell higher margin with minimal overhead doesnt seem enough unless its a hobby or high volume. After all that is the (original) market for Ebay, hobby sellers and online car boot sale. And yes, many say VAT is a tax on business because its transparent to consumers even if incident is upon them. Not unique to UK or Ebay. Is this a secret marketplace? Reason Ebay is so dominant is lack of traction of alternatives, they dont seem to have the volume to attract sellers, so dont attract enough buyers, so... around it goes.
  6. Not surprised, my first thought on the VAT was the group order would be complex and likely to go. One thing though with European Mint, as there is no input VAT, you're not allowed to charge VAT (as i recall from my dealing with VAT). For Goldsilver the same applies on input VAT, but its muddy method they use and perhaps something you dont want to argue with HMRC.
  7. Following with the sentiment above, i dont think it detracts from the brilliance of the bar either way.
  8. I dont follow why it couldn't be marked at lower purity? Presumably it failed a test for "this is 24 ct gold", but would have passed "this 22ct" and could have gone on for the drilling test. I see in comments that its closed now, I suppose the question is why this wasn't explored further, or go into more detail on the assay process?
  9. @PipersNo trap, simple question was meant to ponder on the reasons for this particular tax rule. I'm trying to make the point its not an additional tax, its a tidy up of tax legalities at this end of the tax rules. I didn't say those low levels of trade/income should be taxed or not, i veer towards not, but that just leave loophole for those who think it OK to exploit such areas. I believe we should have fewer taxes, the breadth and complexities are what give all the loopholes in the first place. Taxes should simple, flat-ish, equal and focus on raising revenue, not to manipulate behaviour (accepting it may be only tool government has sometimes). A lot is said about tax avoidance/evasion that isn't so, often myths perpetuated by the left that want more tax, particularly on wealth, for the sake of taxation.
  10. Paypal seems a necessary evil of the online world, because they made adoption easy and refund buyers readily (though try getting anything from them if you pay on CC through them without an account, as if your transaction never existed). They made people trust the internet. However on what grounds does anyone need 3 mths refund policy? Only if the item is broken/faulty and then it should be returned. They are leaving themselves open to manipulation and dont seem to mind they are taken for mugs, as the seller takes the hit. In this scenario they should clearly mark accounts/sales as being purchaser present, in UK law is different when present to online (distance selling law doesnt apply for example, though other rights stand). You'd think there would be competition, there are some startups bu none have made the step up.
  11. Then it gets forgotten, you die, and someone discovers them decades when pulling down the curtains and removing the "weights" (actually happened if you weren't aware).
  12. Previously small sellers were left alone but acting illegally if they didn't submit self assessment. Now they are left alone legally under the allowance. Which one do you actually prefer?
  13. He started off sound, but it became about him many years ago. As i recall funds raised for Manning's legal defense stayed with Wikileaks. Ironic that he spent less time in jail than Assange has self imprisoned himself on the Ecuadorian's sofa.
  14. Normally you have to be in a country's jurisdiction for the offence to stand. Also he'll claim first amendment anyway, he didnt obtain the material anyway, just published. I recall a very long learned article from US lawyers on this, i was left with the impression a case wouldnt make it to court let alone an application for extradition. Upto until now theres been no warrant only threats of one, so i dont know what changed.
  15. Silly really, holing up like this for 9 years and in the end upsetting the Ecuadorians to the point they kick you out. Disappointed the US have requested extradition as best punishment they could give him would be to ignore him. Not clear how he could stand trial there anyway as never committed offence in the US, so interesting to see how this plays out.
  16. Has any crypto card payments successfully launched? They seem to get stuck when the card issuing companies, banks or regulators block them. I suppose if one can deliver it will be Coinbase, that have crossed all bridges before.
  17. That's a lot to shift, spending lots of time splitting, recording, packaging. I'd be looking for a dealer to take it in one go or at least advise on auctions or may be sale by consignment. Might not get 100% the value but consider how much do you value your time?
  18. Misinterpreted i think, its gross income not profit or net income for a reason. The allowance is a shelter from reporting small amounts of income not from income tax per se. The purpose is so HMRC doesn't have to deal with lots of small uneconomic returns, or account for small amounts that aren't reported anyway. The allowance means you simply dont report the first £1k from trading (and property). So, assuming you are falling under trade, you sell 1oz gold for £1001 you should declare that and pay income tax on the £1. Not trading and it comes under CGT. I can see how it can get very complex for traders of assets such as BYB to differentiate the two, but this must already be covered by precedents in shares, art, property where some assets are regularly traded while others held longer term.
  19. There is an assumption that position taken expect delivery. If the instruments used do not settle in physical silver but cash, and the interesting party is happy with that, there is no need for enough physical to cover all positions.
  20. This is the idea. You will note the focus on US then UK, and if you read/search further there's sometimes Canadian or Australian references... other non-English nations apparently dont have this issue. Which is odd as their foundation law is far more prescriptive and less presumptive of equality than English common law. Ironic eh? Basically the "strawman" and freeman on the land theories are built on contorted and deliberate mis-interpretation of words and law, often not from the country in question, with US/UK law interchanged and Magna Carta held up as only law despite most of repealed/superseded by later law (doesnt count for reasons). Capitals are just typographic aesthetic choice with no grounds in legislation. The come back to this will be there is hidden law, secrets taught to all lawyers but no one outside knows about, or recorded anywhere. So the conclusion is no law is just, governments are not just, therefore they may not tax us. Even though the vast majority acquiesce to the status quo of paying taxes and usually argue over how much and what it should be spent on. We could have a revolution, throw out the government and the laws, run the country by anarchism, "the commons". Until we realise that probably not in every ones interests, people and property need protection so we demand police, law, someone to enforce and pay for this... and we recreate the state, elect representatives etc. sorry Backyard, went off a bit there.
  21. If i recall correctly, the Ulster Bank notes (also others in NI and Scottish banks) are issue by those banks privately, and not technically legal tender outside NI (and Scotland). They are accepted by banks across UK so effectively currency. Machines not accepting them will be a technical issue, either the note or they haven't programmed all UK machines.
  22. Personally I dont like the two tone and that has put me off buying some designs I like. May be a factor for others, the general buzz around 50p is high though and creates an interest and market. It is something to consider if the £2 will be the better pick very long term (generations), with low mintage and low interest.
  23. Went up last autumn, seems to be change to courier end to end rather than local Bpost who hand off to their partners in different countries.
  24. Dont know if supposed to be a secret since never mentioned, Sharps Pixley always looks like the cheapest individual sovereign, accounting for postage.