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Michal

Member
  • Posts

    360
  • Joined

  • Last visited

  • Trading Feedback

    100%
  • Country

    United Kingdom

Reputation Activity

  1. Super Like
    Michal got a reaction from HonestMoneyGoldSilver in Sold all my gold, got stung   
    First hunch is so important, I always overthink things and make wrong decision (or maybe not the best one). I remember when didn't buy 1 oz gold for 1010 pounds coz wanted to buy for under 1k and end up buying silver 😀.
    In general i remember when this thread was started and my reaction to this guy complain 😲. 
    Understanding your purchase ( in any matter) is crucial.
    1. Physical PM makes you a bit independent from current monetary system.
    2. You buying Physical PM long term and should consider gain/lost  in terms of decades rather than months.
    3. You don't "invest" money which you need or will need soon.
    4. You don't "invest" money that you can't loose.
    5. You don't sell until have opportunity to buy something which fits your financial goals more. 
  2. Like
    Michal reacted to GoldDiggerDave in How is inflation effecting you in 2022?   
    @ady 2022 will be a very interesting year.  
  3. Like
    Michal reacted to Uksilverstackers in How is inflation effecting you in 2022?   
    They only say the amount they think they can get away with / cannot hide anymore.....
  4. Like
    Michal reacted to Minimalist in Chart Of The Day thread   
    Dont believe it for a second.
  5. Haha
    Michal reacted to Minimalist in How is inflation effecting you in 2022?   
  6. Like
    Michal reacted to Minimalist in How is inflation effecting you in 2022?   
  7. Haha
    Michal reacted to Stu in A safe place to park 100k?   
    50k on hookers and cocaine, then do something frivolous with the rest😄
    I wouldn’t draw down unless you have a strong proposition mate. I was considering drawing from my mortgage to get a wind turbine. Reckon it would pay for itself in around  8 years, especially if fuel prices keep going up. I’m really on the fence, especially as noticed the early repayment charge on the new mortgage offer sits at 5% for the 5 year term. Always check the details. 
  8. Like
    Michal reacted to stefffana in Why don't they sell and buy like before?   
    This is the reason I am focusing from a while on buying scrap or very low premium gold and silver. The intrinsic value will be there when the time will come for me.
  9. Like
    Michal reacted to Minimalist in Gold Monitoring Thread £ GBP only   
    Im still impressed that people, from the average joe, on here and in the financial world refuse to admit this into their consciousness. In my experience, when I ask people who hold the belief that the CPI is upstanding they change their tune when they extrapolate and explain the conclusion of what they were suggesting. Most people dont want to admit they are in a farm-like-economic-slave-system.
  10. Like
    Michal reacted to Minimalist in The REAL rate of Inflation?   
    Correct.
    To be honest I calculated the same food, consumables and fuel prices from 2018 to now (mostly Asda shopping) and its up 27%. Thats 9%, give or take, on average.
    Thats not taken into account of getting the house new laminate flooring. Electrical consumer goods. AA batteries, you name it.
    Its over 10% if you really calculate the entire lot.
  11. Like
    Michal reacted to AuricGoldfinger in The coming Gold crash   
    Baloney Maloney. You do have to filter out the bias but he makes some good points if you can see through the BS
  12. Like
    Michal got a reaction from Stacktastic in The coming Gold crash   
    Probably he had to sell his computer to cover margin call to cover his gold short position. 🤭 
  13. Haha
    Michal got a reaction from daca in The coming Gold crash   
    Probably he had to sell his computer to cover margin call to cover his gold short position. 🤭 
  14. Haha
    Michal reacted to Goldhooked in The coming Gold crash   
    What ever happened to @Wonger?  Does he still think we’re on for $385 in the next 6 months?!
  15. Haha
    Michal got a reaction from Hunter87 in The coming Gold crash   
    It is a shame that this topic died. It was so entertaining. 
  16. Like
    Michal got a reaction from Tonyb959 in Gold Monitoring Thread £ GBP only   
    There is a reason why people always back to gold after fiat currency rant. I am simple man, I see them print like crazy, I buy more PM. Question is not, If it end up in mess, question is when. Situation right now look like pure madness. They "struggle" to get inflation of 2% but my shopping basket went up ~15%. No point of holding cash now IMHO. 
  17. Like
    Michal got a reaction from Piggybank in Gold Monitoring Thread £ GBP only   
    There is a reason why people always back to gold after fiat currency rant. I am simple man, I see them print like crazy, I buy more PM. Question is not, If it end up in mess, question is when. Situation right now look like pure madness. They "struggle" to get inflation of 2% but my shopping basket went up ~15%. No point of holding cash now IMHO. 
  18. Like
    Michal got a reaction from GoldenGriffin in Gold Monitoring Thread £ GBP only   
    There is a reason why people always back to gold after fiat currency rant. I am simple man, I see them print like crazy, I buy more PM. Question is not, If it end up in mess, question is when. Situation right now look like pure madness. They "struggle" to get inflation of 2% but my shopping basket went up ~15%. No point of holding cash now IMHO. 
  19. Like
    Michal got a reaction from stefffana in Gold Monitoring Thread £ GBP only   
    There is a reason why people always back to gold after fiat currency rant. I am simple man, I see them print like crazy, I buy more PM. Question is not, If it end up in mess, question is when. Situation right now look like pure madness. They "struggle" to get inflation of 2% but my shopping basket went up ~15%. No point of holding cash now IMHO. 
  20. Thanks
    Michal reacted to LawrenceChard in Reporting purchase to HMRC   
    There are common misunderstandings about reporting.
    As Nugget said:
    "The first time that you make an exempt supply of investment gold which exceeds £5,000, or when the value of your supplies of exempt investment gold to any one customer is over £10,000 in any 12 month period, you must notify us within 28 days by writing to our Written Enquiries Section."
    But this refers to the dealer having made a supply, rather than reporting the customer's purchase. In our case, this happened on or about 1st January 2000.
    In section 3, the Government guidance states:
    "You do not need to notify us of subsequent supplies."
    But, as I think you all know, dealers must keep adequate records, and also be aware of anti-money-laundering requirements.
    So, it is not standard or routine for dealers to inform HMRC of customers making gold purchases of any amount. The principal exception to this is if the dealer has any reason to suspect money laundering, or the source of funds. Reluctance to provide ID might be a trigger for suspicion.
    What some may not realise, is that the money laundering rules apply to most other businesses, banks in particular; and it is a criminal offence if a bank employee fails to make sufficient enquiries, or to report any suspicions. Banks and their employees are not permitted to inform their customers that they have any suspicions, or even to explain why they are asking questions if there is any risk this might alert the customer that they are under any suspicion. 
    Some years ago, I asked a banker what the threshold was for reporting transaction, and I received the surprising answer that there was no threshold. He went on to give me this example:
    If the bank had a customer with a sandwich or coffee shop, but often banked cheques (or card payments) for say £30 each, this sould be considered unusual, as not many sandwiches or coffees cost £30. The bank must make discreet enquiries. It is possible that the customer may be supplying £30 parcels of drugs, and using the coffee shop as a "cover".
    Worth thinking about whenever you do any banking!
  21. Like
    Michal reacted to Winchester in Wallstreetbets eye up SLV   
    So, I'm getting the idea that the big banks conspire to keep silver stable because if it shot up real high a lot of people would try to cash in their paper claims and the banks couldn't cover those demands?
    I won't comment on "shorts" because I still have a very muddled idea of that process.
    I should explain more about me.........I have been buying a bit of silver (mostly old coins) over the years........ONLY because I have quite a bit of money that is just numbers on a computer and I want to have something physical in possession just in case the numbers on the computer vanish due to some horrific disaster.
    So, I don't buy and sell and I'm not familiar with all the jargon and investment strategies.
    I did, however, refuse to buy when the price went up.......because the predictions of huge increases seemed bogus.
    That decision was based more on instinct than actual knowledge.
    Thanks for the info.
  22. Like
    Michal got a reaction from Realwealthuprising in The future of silver, VAT and import charges into the UK now a Deal has been done!?   
    I think we had this discussion before on this forum, and as fare as I remember you are obligated to declare metal value not face value when entering UK, the same when you leave UK.
  23. Haha
    Michal got a reaction from 47Ag79Au78Pt in The coming Gold crash   
    It is a shame that this topic died. It was so entertaining. 
  24. Haha
    Michal got a reaction from daca in The coming Gold crash   
    It is a shame that this topic died. It was so entertaining. 
  25. Like
    Michal got a reaction from silversky in The future of silver, VAT and import charges into the UK now a Deal has been done!?   
    I think we had this discussion before on this forum, and as fare as I remember you are obligated to declare metal value not face value when entering UK, the same when you leave UK.
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