Gold Monitoring Thread £ GBP only

[Bratnia]

1 hour ago, HowardW said:

Isn't this just part of a trend (Germany reserves back from US, Poland back home too...I remember there are others) because US and UK are not safe locations any more?

As ever concentration risk is a major risk factor. If you hold gold then that's best diversified, some perhaps at home, some in a foreign vault. Some advocate holding all gold in foreign vaults, target location(s) for if bad geopolitical things do happen locally.

[theman73]

18 minutes ago, Anteater said:

@James32 ?

One of them for sure

[Bratnia]

1 minute ago, HowardW said:

I did smile when you wrote "the UK response alone". The subs would be sunk at the outbreak of hostilities (only one at sea at a time and I'm sure that s well tracked), the missiles didn t work last time they were tested and anyway the US have the master codes and would have to give permission... highly questionable that we actually have a functional nuclear deterrent and it's certainly not independent.

But more seriously

Why did Germany take its gold home from the US?

Is independent, and the UK has considerably more advanced mutual destruction deterrents compared to the 1960's public/political known devices that as you say are showing their stage life age. Remember that remnants of the British Empire still has the sun-never-sets. Just a scattering of small islands around the world such as Gibraltar. IIRC the sun is just about setting on Pitcairn island as it rises in the Indian ocean (on Diego Garcia) ???

[CDH]

2 hours ago, Dankanugget said:

Empires rise and empires fall and along with it whatever they did or accomplished. Romans dominated the UK and most of Europe. Vikings stole from Ireland, slaves and delivered them to Arabic countries as trading ensued. Went as far as Russia with trade and plundering. Turks under the ottoman empire dictated and destroyed Europe making slaves of all who resisted and killed them Even to this day the Armenian people are persecuted and were massacred by the turks It has happened and may well continue to happen. Nothing new under the sun. No country owes another because of ruling it. Some countries may of benefited by actual trade. Yes people were treated harshly under many regimes but it's history. Who pays who? The Italians pay the UK for what the Romans did? Turks pay the Serbs and  Croatians, Spanish and most of Europe etc for taking over their towns and taking their boys as slaves to work with the empire? 

Swedes pay the Irish and the English for destroying monasteries and taking slaves?

Past has gone....forgiveness works for me as if you want to exact the law you have to start with yourself first and you only have two eyes and a few teeth.

 

 

 

2 hours ago, HerefordBullyun said:

How is it woke? It's a fact the British empire plundered trillions from India when they ruled over them.

And for the record India is concerned over the Chinese presence near their border also, so all is not that rosy. 

Taken from Chat GPT Some estimates suggest that India may have lost trillions of dollars in wealth due to British colonial rule, taking into account factors such as resource exploitation, forced labor, famines, and economic policies that favoured British interests over Indian development.

Well we piled in to their space programme for a start, and foriegn aid...

No-one ever accounts for the literally incomprehensible value of the West giving the rest of the world advanced technologies - trains, telegraphy, medicine, even tarmac - that took literally millennia to develop!

[Bratnia]

The perception of Russia being a massive country is often misinterpreted due to how maps of the world are imaged. Yes it still vast/large, however this neat animation by Neil Kaye, a climate data scientist at the Met Office - the United Kingdom's national weather service - shows what the Mercator Projection would look like if it depicted the true size of each country in relation to others. Where we see countries like the United States, Canada and Russia shrink, while the giant landmasses of Africa and South America remain more or less the same.

[stackspot]

3 hours ago, Bratnia said:

Norway's entire population is fewer than the number of UK population that are unemployed/on benefits/zero hour contracts (fundamentally the same thing, just accounting terminology).

It will have had more to do with government than population

[kimchiflower]

3 hours ago, theman73 said:

Ask the 1%

What do you want to ask me?

In all seriousness, it's relative. Depending on which data set you look at, An income of $40-60000 per year puts you in the global 1% which I would guess would mean the majority of forum members would qualify for the club albeit perhaps not when compared with their local/national economy. It's not until you see true poverty and normalised destitution in various countries that we can appreciate how wealthy & privileged we are despite what may be a UK economy in a terminal decline and a recent spike in the cost of living. 

 

My parents and their peers grew up in poverty yet they only realised that more recently in reflection. Back in the 1950s, everyone they knew was skint, and there was no Instagram telling you <$250,000/year = broke.

 

As a related factoid, if you were to evenly distribute all the above-ground gold equally to every human above ground, we would each have somewhere around 1oz. Assuming gold is money, I'm pretty sure many on this forum is in, or close to, the top 1% of holders of money.

[BLOOMMAN101]

[Petra]

4 hours ago, HowardW said:

I did smile when you wrote "the UK response alone". The subs would be sunk at the outbreak of hostilities (only one at sea at a time and I'm sure that s well tracked), the missiles didn t work last time they were tested and anyway the US have the master codes and would have to give permission... highly questionable that we actually have a functional nuclear deterrent and it's certainly not independent.

But more seriously

Why did Germany take its gold home from the US?

Ha! ha! 🤔🤣glad to see you have a grasp of British military operations 🤔🤣🤣

[bobski]

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Au

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[HonestMoneyGoldSilver]

7 hours ago, stackspot said:

Spending it same as the North Sea oil money that was spent

Norway still has theirs

The general narrative is the UK used its profits to reduce taxes and pay for public services (I ain't buying that FWIW). Norway uses her profits to invest in global assets and has done quite well. Norway has about $250K per citizen but only releases a maximum of 3% of that annually, putting the rest aside for a rainy day

5 hours ago, HowardW said:

I did smile when you wrote "the UK response alone". The subs would be sunk at the outbreak of hostilities (only one at sea at a time and I'm sure that s well tracked), the missiles didn t work last time they were tested and anyway the US have the master codes and would have to give permission... highly questionable that we actually have a functional nuclear deterrent and it's certainly not independent.

But more seriously

Why did Germany take its gold home from the US?

The UK makes its own warheads (fitted to US Tridents from the US Navy pool (Polaris Sales Agreement)) and controls her own nuclear destiny. Sellafield has more plutonium than anywhere on earth, it's not like we're short of nuclear material. Sellafield makes a prime target for aggressors or terrorists. Sellafield was built where it is due to the prevailing winds generally blowing over NI and ROI as opposed to somewhere important like England or Scotland 🤷‍♂️

5 hours ago, CDH said:

No-one ever accounts for the literally incomprehensible value of the West giving the rest of the world advanced technologies - trains, telegraphy, medicine, even tarmac - that took literally millennia to develop!

I say it regularly. Everything you see on the roads and on railways was built by Britain courtesy of the steam and internal combustion engines. The entirety of modern medical science is a British invention including antibiotics and vaccines. The wokies complaining about the UK pillaging the world literally wouldn't be alive if it wasn't for the British. Take Pakistan, which has been independent for 75+ years. The best thing in that country - the railway - was built by the British. Same in India, the heart of Indian power like New Delhi was built by the British (the only Imperial City ever built by the British)

6 hours ago, theman73 said:

Ask the 1%

Probably the top 0.0001%. The studies on India aren't as straight forward as they appear. They don't claim the British stole $30 trillion from India, they claim the actions of the British cost India $30 trillion, which are two different things. They ignore what the British invested within India itself (Indian subcontinent), like the railways, ports, cities, governance, etc, etc. See above though, the Indian studies are highly questionable as the authors probably wouldn't be alive without British inventions

The studies count the century before the British Raj (1858-1947) when India was ruled by the British EIC (1757-1857, Sepoy Mutiny), so effectively they are counting over 200 years. The studies neglect to mention the improvements that took place under the BEIC and the Raj compared with the Dutch EIC and other powers. As with the rest of the globe, if it wasn't going to be ruled by the British then it would have been ruled by another great European power. History proves the British were by far the best outcome for all of the dominions, including India and Africa (we can compare directly with the outcomes for countries ruled by the Germans, Belgians, French, Dutch, Portuguese, Spanish, Italians). The British control of India made the Russians and Chinese shake in their boots - they both had eyes on India but wouldn't dare challenge the Royal Navy or British Empire, which led to centuries of zero wars between them - Pax Britannica (1815-1914) and prior

I'm not trying to excuse atrocities committed by the British, and there were plenty, but objectively the British were and still are the best people to be governed by in the world. That's fast becoming an anachronism though, which is the saddest thing for the British people. 

A big part of this anti-British narrative is the considerable hypocrisy of people born and living in the UK, who claim the UK owes them reparations or white people owe them something. When we examine this closely we see those people are sucking on the same teets that the rest of us are suckling on. They were born in the UK and they take every advantage of the privileges associated with that, just like most of us do. They will not, however, accept any responsibility for the British Empire despite being British citizens. All of the blame is put on the rest of us despite us having as much to do with the British Empire as the woke reparations crew. Ultimately the reparations narrative and wokeness generally is not about justice or responsibility, rather it's a transfer of hate and spite towards all white people - it's only white British citizens, who weren't alive during the Empire, who are responsible for the Empire, while the non-whites absolve themselves completely. It is blatantly racist and bigoted against white people, a philosophy we imported from the United States. This whole question about reparations and the British Empire is a smokescreen to justify racism, hate, bigotry and a supremacist movement by non-white persons. We see it playing out on our streets, in our corporations and media. They believe it's impossible to be racist against a white person so we are the global punching bags. They are allowed to say things on social media and the mainstream media that would result in prison sentences if you changed the word "white" to any other descriptor

All of this global volatility and erosion of western culture and western values does of course factor into the gold price. Gold is an impartial and dispassionate arbiter. As a wise person said above, the global average is roughly 1oz per person (Australia is the richest country on earth on gold per capita in terms of above and below ground reserves). Another wise person was discussing the repatriation of gold to India and elsewhere from London. This is a political stunt as the best place to keep your gold for global remittance and settlement is London. It has always been London and even after Brexit and the fall of the UK, most historians and analysts conclude that London will remain the centre of European finance at least for the remainder of the 21st Century. So on the plus side for stackers in the UK, there is unlikely to be a shortage of physical gold for us to buy, at least for the foreseeable future.

Edited June 3 by HonestMoneyGoldSilver

[Roy]

9 hours ago, Bratnia said:

Removing gold from London into India is a bad move, those bars are no longer trusted, might have to be moved back to London and assayed etc. in insufficient time to avoid a potential default and adds local geopolitical risk factors.

India should probably look into 'The Dirtyman Safe' 😊

[Petra]

India…🤔🤔all things considered, do you really think they really care what the world thinks about them repatriating their own gold? The world is changing and actually isn’t always going the way of China 🤔

[bobski]

Current Price

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[Roy]

HMGS said:

I say it regularly. Everything you see on the roads and on railways was built by Britain courtesy of the steam and internal combustion engines. The entirety of modern medical science is a British invention including antibiotics and vaccines. The wokies complaining about the UK pillaging the world literally wouldn't be alive if it wasn't for the British. Take Pakistan, which has been independent for 75+ years. The best thing in that country - the railway - was built by the British. Same in India, the heart of Indian power like New Delhi was built by the British (the only Imperial City ever built by the British)

 

 

Edited June 5 by Roy

[Mcb2007]

To da floor n back lol

[Dankanugget]

19 hours ago, theman73 said:

One of them for sure

 

Edited June 4 by Dankanugget
Spelling

[Dankanugget]

That 1/10 brit deal at chards is a good deal I think Petra pointed it out.

Are people put off by king Charles feature?

[bettyswollocks]

3 hours ago, Dankanugget said:

That 1/10 brit deal at chards is a good deal I think Petra pointed it out.

Are people put off by king Charles feature?

This one?

https://www.chards.co.uk/2023-king-charles-iii-gold-britannia-bullion-0.1-oz-coin/18295

[Orpster]

5 minutes ago, bettyswollocks said:

This one?

https://www.chards.co.uk/2023-king-charles-iii-gold-britannia-bullion-0.1-oz-coin/18295

Ha, BettySwollocks is my PSN gamertag 🤣

[HonestMoneyGoldSilver]

8 hours ago, Roy said:

 

Love it. I posted a few of his videos in the NBS

[Bratnia]

4 hours ago, Dankanugget said:

That 1/10 brit deal at chards is a good deal I think Petra pointed it out.

Are people put off by king Charles feature?

Copper nose 'enry, poop head Charlie. err! Yes! Prefer not to Chuck up.

[Roy]

The gold and silver price is falling steadily. 

But what worries me is the huge queues at Bank of America  ATMs not seen since the pandemic. 

Whassup?

[theman73]

10 minutes ago, Roy said:

The gold and silver price is falling steadily. 

But what worries me is the huge queues at Bank of America  ATMs not seen since the pandemic. 

Whassup?

I am not sure but my dealer suddenly went out of stock for most silver this morning, I hope it is not a bad sign

[Roy]

40 minutes ago, Roy said:

The gold and silver price is falling steadily. 

But what worries me is the huge queues at Bank of America  ATMs not seen since the pandemic. 

Whassup?

I had a chat with the security guard. He said the machines had been down for a while and it was just 'catch up'. Don't Panic!

Also, he joked, some folk see the long queues and jump on the bandwagon, thinking that the sky is falling 😆