Jump to content
  • The above Banner is a Sponsored Banner.

    Upgrade to Premium Membership to remove this Banner & All Google Ads. For full list of Premium Member benefits Click HERE.

Martlet

Member
  • Posts

    2,165
  • Joined

  • Last visited

  • Trading Feedback

    0%
  • Country

    United Kingdom

Posts posted by Martlet

  1. 7 hours ago, NewCoins said:

    This whole subject I am curious about.

    I have about 50 something feedback on ebay and maybe 10 or so are for coins, going back a fair few years.

    In theory, if you sold a coin and made 5k "profit" for example, I would assume CGT wouldn't be applicable.

    The badges of trade seem a bit subjective, especially if you bought and sold a coin in a short period.

    I am the type of person who likes to know where they stand, but in the case where I made a large "profit" I would be reluctant to stump up the tax (as per my tax rate) or leave it waiting for potentially HMRC to come knocking.

    Is there a way to deal with this one way or another (I suspect asking HMRC wouldn't be wise)?

     

    Edit, what's also interesting, grading coins to sell them might not be wise either. 

     

    It is subjective, because its not easy to be definitive on trading.  That said the guidance is easy enough and rule of thumb is if you're not making a living, or regular income, its not trading.  

    Which is good, because you dont want to be paying income tax on a few ebay sales.  You will have to consider CGT, where you get a another allowance of 12k before paying anything, and pay half the rate. Unless you made 12k profits elsewhere, you'll pay no tax on that 5k profit. 

  2. 1 hour ago, Rll1288 said:

    No significant inflation... what is significant ? I see petrol at pumps over 10% more than they were 2 months ago... is that nit significant... food shopping is also higher.... growth low, prices high ... something is happening

    Inflation is a measure across all gods and services.  Petrol prices are not a good indicator of inflation, being dictated by oil prices.  Oil has doubled in the past year, 30% up from a dip in August.  That is itself a large contributor to inflation, because its an input cost to so much as a material or for transportation.  Like fertiliser and foodstuffs.  And the reason for oil price increase is restriction of supply, in part from OPEC+ keeping production tight and in part US not permitting fracking to restart after the Covid shutdown. 

    The past 10 years, subject of the tweet, has seen inflation average around 1.5%-2.5% depending on country.  Significant inflation is maybe 5-6%+ sustained.  In a robust economy a few % is absorbed by efficencies and doesnt cascade into the next cycle.  Hyperinflation, that everyone fears, is at least double digit.  Even then thats not the sort of numbers we see in places like Venezuela, more hyperbole than hyperinflation.  The other fear many economist have is that as the price increased are from supply shock (stuff not being made), rather than increasing demand, we could very quickly flip from a modest inflation to deflation. 

  3. 3 hours ago, GoldCore said:

    However, Cathie Wood’s assertion inflation cannot happen because the velocity of money is falling has no basis in reality.

    That was not the claim in the tweet.  It's an explaination of why there has not been significant inflation since 2008, despite quantative easing increasing wide money.  It's demonstrably true.

  4. Reckon the best that can be done is to arrive a maximum possible.  Number minted minus known melting, which im sure the mint records (though published?).  Exports as noted would also be reasonable to subtract.  After that difficult to see how anyone could confidently guesstimate how many have survived over a century.  

    I recall seeing a similar attempt for silver morgans recently, full of assumptions and guesses without much in the way of justification. 

  5. Are we questioning if the Kinesis silver vault is genuine?  Maguire says it's 1000 oz, they're all the same size and shape, though he does seem to lift with ease.  Having just watched an "unboxing" of some 1000oz bars, i'd wager the ones in this video are considerably lighter, and i'd say smaller. 

  6. 15 hours ago, Rll1288 said:

    2018/2019 Revenue UK received from Scotland in Taxes and North Sea Oil revenues £66bio. Scotland received £81bio in public spending in same period

    I recall fiscal year 2019/20 the UK deficit was about £11.5bn. The calculated Scottish deficit was £11bn.  

    It's going to be a very tricky budget to balance when the Scottish Nationalist Party have their way.  Especially now they are promising to go green, so all that oil will stay where it is. 

  7. 4 minutes ago, HerefordBullyun said:

    Well that is down to governmental polcy to ensure thats what happens is the correct thing, small government could control it. Both models are dated I agree but as Mario states. The state should be there to protect the liberties of the free and ensure the rules are adhered to, social media is just another controlling arm of killing said freedoms. Millions of cases of Mental health correlate with social media, its a toxic nasty thing. 

    Social media is there because free market made it so and people want to use it.  Can't have government intervening, controling what people post or how the data is used. ;)

  8.  

    4 hours ago, Rll1288 said:

    I didn't know the UK monarchy owed 1/3 of the World... 

    The Crown lands refered to are the vast stretches of Canada, Australia, coastal area of UK and a few other bits and pieces left over from the commonwealth.  Mostly not economically viable boreal forest or desert, and where they are (forestry or mining), the economic activity is taxed locally.  They are own by the Crown in name, in practice owned and run by those nation's governments. 

  9. 42 minutes ago, HerefordBullyun said:

    Its not the only option though as @Minimalist has mentioned a tarrif system could be a solution. The problem is the west doesnt now produce hardly anything now its all done in china. If we produced more goods and services we'd prosper, but we cant becuase we are enslaved in financial economic ponzi scheme. I gaurantee you the tariffs would be a lot cheaper if the mises model were adopted.

    Producing goods domestically or overseas has nothing to do with taxation, and a peculiar conflation of issues. We had tax when we were the manufaturing hub of the world, and those places have taxation of their own. The idea of a tariff to pay for basic services would mean only the well off could afford them and harks back to feudalism. Public goods and quasi-public goods should be paid for by the state, and that necessitates some taxes to pay for them, long established principle by proponents of sound money.   

    I see from the quoted Mises text you agree with this too.  All the more odd to make the original point about tax being about economic failure. 

  10. 32 minutes ago, HerefordBullyun said:

    You're missing my point. If we had a sound economic system based on sound money, ie Mises, not the Keynesian drivel. Debt wouldnt be around and there would be no need to for anyone to pay taxes. Public Services would be treated as a business and therefore self sufficent and everyone prospers. The top 1% dont pay taxes - the game is rigged!

    :wacko: Public services without any public funding from taxation?  Private roads, private police, private fire brigade, private refuse collection?  Schools, health, army all run as a business?  Does not sound like much fun, and nothing ecomomically sound about that. 

    There's nothing "Keynesian" about having taxes and public expenditure, been going on forever.  This term seems thrown around as an insult without understanding what it is.  Certainly isnt what we have today, Keynes advocated paying back all the debt in short order after the economic stimulus had taken effect. 

  11. 3 minutes ago, HerefordBullyun said:

    Taxes are actually a bi product of a failed economic system, and the higher they go, the more failed the system is. If you didnt have central banks you wouldnt have taxes. We dont have central IT workers, we dont have central anything else except the central line that runs through london, Think long and hard about that!

    There have always been taxes with or without central banks. They are a consequence of governement, whatever form.  Now, there are taxes that come from poor economic principles, thats a very different case.  

  12. 1 hour ago, MJCOIN said:

    You can schedule charging to start at midnight with some chargers. In time I expect discounts on electricity prices will encourage users to charge overnight rather than at peak hours.

    This is not the solution. Two problems, firstly there is still the matter of total generation capacity, time shifting only smooths out the peaks. Secondly, if we have a couple dozen million EV set to charge overnight, that will be the peak hours.  

    If you look at total energy use and current capacity, how much is used in transportation (UK), we'll have to roughly double generation to replace petrol and diesel.  Too much focus is on realtivly minor issue of how to charge, without looking at this massive infrastructure shortfall. 

  13. 15 minutes ago, Bigmarc said:

    That's a great link, well presented data. Not sure where your got 2021 numbers from.  When i ran, food gave £23, and looking at the break down i'd say thats Waitrose prices (or even Harrods).  For the per ounce of silver, 1921 would have been 3.1 oz for the basket, 2021 would be 1.4 ounces. Purchasing power of silver in the supermarket has doubled in 100 years. 

    Interesting one is petrol, usually see this as driver of inflation.  Both the US example and this UK one show a large fall in prices of petrol, once you account for taxes applied today that weren't then. 

  14. Questions about what you can buy with 1921 silver are potentially loaded. Here's something from US publication Country Living https://www.countryliving.com/life/g33398396/what-things-cost-100-years-ago/?slide=12

    Its a mixed bag.  Property have increased a great deal, while basics foodstuffs cheaper.  Notable that a car is a lot more expensive now, though if you were to look at one from China i suspect it may be closer price. Thats because a large amount of costs in developed world are labour, pensions and regulatory costs. 

    So to silver today, its worth $23.20 at time of writing.  The cost of production, energy, transportation, labour, machinery, leases, etc have all changed a great deal in 100 years.  Simple comparisons are flawed and open to manipulation if you want to make a point. 

  15. 1 hour ago, Gruff said:

    Let's be honest, it wasn't hard to see that the birds would come home to roost. You can't print FIAT debt into creation at the rate they have over such a short time frame and expect there to be no inflation. Unless you're really, really, really stupid!

    Or can understand the difference between demand side and supply side pressures. 

    Like, for example, price of oil going up not because of demand increasing but supply being restricted. 

  16. Some one did manage to extract the numbers for the first 3-4.  Then RM decided it was a state secret and wouldnt share anymore.  Search interwebs for freedom of information request relating to Queens Beasts. 

  17. Just now, motorbikez said:

    Why go to all the bother of minting a platinum coin, the Fed could just print a big trillion $ paper note, something they are good at perhaps with mickey mouse on it. Powell, Yellen & co love mickey mouse money.

    You'd have to read the wiki or other sources for the detail, its a bit obscure. Its to do with the seperation of state and Fed and what the government can do. The Fed can and does issue notes, with rules.  The Treasury, that has the debt, and isnt allowed to issue notes but can issue coins. 

     

  18. I was trying to work out if this is bonkers or genius.  I read that its technically plausible, though seems like pandora's box.  The more legit way to do it would be to sell the coin as a numismatic interest, since there arent many trillionaires around, do a $billion coin.  Sell a few hundred for $2bn a pop, ultimate collectors item.  

×
×
  • Create New...

Cookies & terms of service

We have placed cookies on your device to help make this website better. By continuing to use this site you consent to the use of cookies and to our Privacy Policy & Terms of Use