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Everything posted by Martlet

  1. Martlet

    Safety Deposit Box

    Admit i havent read the full legislation, the point about creditors I am certain on. Anything in deposit boxes are unknown and the bail-in is supposed to be structured (banks pass test that their bail-in covers their exposure). The contents are your property, not assets or liabilities of the bank, which account deposits could be. Numerous articles are based on others opinion, those articles are certainly speculating. The risk would be emergency legislation changing the goals posts, though then seizures of boxes outside banks could be included too.
  2. Martlet

    Safety Deposit Box

    This is not correct, the bail-ins are focused on creditors, senior debt holder, not current accounts where the £85k guarantee still holds. Deposits in a safe, you are not a creditor so shouldnt be covered under current bail-in regulation (future may change to law and regulation ).
  3. Martlet

    goldsilver.be very dodgey

    Yes the "ship" could be confusing. Its separate type of order from "store" when order is held. Email received at that point gives instruction to make payment etc. Seems all work out, so thats good. And giving them another pass, issues seem due to minor mis-communication, some out right rudeness, and Yodel which Bpost partner. One major issue was the fault of the customer. When reported that coins went missing, they resent and changed courier. If competitors cover similar range people may move.
  4. Martlet

    goldsilver.be very dodgey

    So to recap, you place order, make payment, then wait two weeks with the account not changed to show payment. When they mark the order cancelled, you contact them, to and fro on was payment made, its found and resolved within a couple of hours.
  5. Martlet

    Yale of Beaufort - Queen's Beasts

    May not be pretty but faithful to the heraldic image. The spots look a bit too much, become a distraction.
  6. Martlet

    2019 Gold Bullion Cheap

    Reckon will be 40% solids if lucky.
  7. Martlet

    Wealth Tax

    Then what are you saving all that money for?
  8. Martlet

    Silver in danger

    I read a blog post about this a while ago, by someone in the know, who stated its largely nonsense. Its not that mineral reserves are inexhaustible but that the ones "known" are those that are currently economical to exploit with known technology. Prices and technologies change and so known resources will become viable reserves, new resources will be sought. The interesting example is of helium. There is virtually no reserves as it seeps through rocks and escapes the atmosphere so easily. However it is abundant in deep hydrocarbon reserves, so when they get natural gas there is tons of helium to capture. I recall another related tale from years ago that there was only a couple of stores and the largest in US was closed as uneconomical. This led to shortages and minor panic (shortage of balloons, canisters become rationed) until it was realised this was silly and the facility reopened. More relevant to us, its said that landfill has more gold per ton than the best gold mines and there are substantial silver supplies from mining tin, copper and other minerals, some not economic today but at some point huge spoil mounds become open cast silver mines.
  9. Martlet

    Wealth Tax

    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.
  10. Martlet

    Wealth Tax

    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.
  11. 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.
  12. Martlet

    Wealth Tax

    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.
  13. Martlet


    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.
  14. Martlet

    1 oz gold coin heading toward £1,100 delivered

    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.
  15. Martlet

    Gold Monitoring Thread £ only

    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.
  16. Martlet

    Wealth Tax

    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.
  17. Martlet

    Outrageous train prices

    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?
  18. Martlet

    Gold Monitoring Thread £ only

    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.
  19. Martlet

    Kinesis Gold and Silver currency

    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.
  20. Martlet

    GOLD DEALS - See a deal, post here :)

    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
  21. Martlet

    Kinesis Gold and Silver currency

    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.
  22. 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.
  23. Martlet

    Brexit status ...

    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.
  24. Martlet

    Queens Beast

    Its expected to be the Yale of Beaufort and due in March.
  25. Martlet

    1/10 oz Britannia Capsules / Tubes / Storage...

    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).