Gold Monitoring Thread £ GBP only

[katyc]

We are on the up again.... £1,819.31

[Chronos]

French Bonds Plunge Amid Macron Resignation Rumors:

https://www.zerohedge.com/markets/french-bonds-plunge-amid-macron-resignation-rumors

[James32]

1 minute ago, Chronos said:

French Bonds Plunge Amid Macron Resignation Rumors:

https://www.zerohedge.com/markets/french-bonds-plunge-amid-macron-resignation-rumors

Thank God I sold my French bonds last week.

[Chronos]

Gold & Oil: Understanding Rather than Fearing Change:

https://vongreyerz.gold/gold-oil-understanding-rather-than-fearing-change

[Orpster]

Just now, James32 said:

Thank God I sold my French bonds last week.

That was French letters, and you only sold them as the lube had dried up

[Chronos]

$82,000 Gold Nugget Stolen From Long Beach Coin Show:

https://www.zerohedge.com/markets/82000-gold-nugget-stolen-long-beach-coin-show

[Brit2023]

6 minutes ago, James32 said:

Thank God I sold my French bonds last week.

to buy Brooke bond?

[DisplayName]

🦀sideways this week with a Friday drop?

[Bratnia]

1 hour ago, James32 said:

Thank God I sold my French bonds last week.

I avoid France, either its fully occupied or no fast foods - just snails, or serving poissan.

[gji25]

1 hour ago, James32 said:

Thank God I sold my French bonds last week.

Bonds or Bond age

[KRO]

1 hour ago, James32 said:

Thank God I sold my French bonds last week.

 

1 hour ago, Orpster said:

That was French letters, and you only sold them as the lube had dried up

flogged em to poor old @treetop1280

[Bratnia]

7 hours ago, katyc said:

My other half is Polish and there's some stunning parts.

summers in Poland, winters in canaries, a few months in UK in between until something "feels" right.

I'm half Irish, mother side, no particular stunning parts

One asset allocation choice is thirds each in two homes, and gold. If you don't mind a live in lodger (shared home area) then you can rent for £7.5K/year without any tax or CGT implications (in the UK). If the same in another place then you don't have to find/pay rent and have £15K/year income, and a home occupier in both places during your absence. Rebalancing home values isn't easy/cost-effective however you can substitute stocks as a proxy for some of the home(s) value. Draw 2% SWR from that where the imputed rent you'd otherwise have had to pay increases that to around 3.33% effective SWR (around a third of 4.2% historic average = 1.4%) and that's like a 30 year PWR i.e. the return of your inflation adjusted money via yearly installments and a very good prospect of ending 30 years with your inflation adjusted wealth still intact.

Edited June 11 by Bratnia

[HonestMoneyGoldSilver]

7 hours ago, katyc said:

There was a shortage in all workers after Convid because many had lots of free furlough money in their banks and couldn't be arsed working.

But now, the likes of George Gammon, knows some very significant players in that industry who's gone from paying silly money to drivers due to lack of staff, to now cooling off, turning people away and even reducing hourly rates a little. People are desperate for a side hustle to pay the bills. 

I've seen a massive shift in British men taking on second jobs in the UK too.

They call it a cardboard box recession. When box sales decline, the GDP (and haulage) will too. I purchase quite a lot of boxes and saw prices explode post covid. But they've come down a lot now.

As a retailer myself, I can confidently say there's only way this is going. Retail feels just like it was in 2007 before the last crash. Worse actually.

Similar things happened in 2020-22 as in 2008-9

In 2008 they had the TARP funds and handed out money to anyone who said they needed it without checking their accounts. I find this hilarious but I have a twisted sense of humour. A lot of companies who didn't need the money, took the money anyway, and used the excess funds to buy out their competitors at fire sale prices. Most were eventually caught and prosecuted but a nice idea nevertheless 😂

Several folks I know did something similar during the plandemic. They took the money that came their way and continued doing business as usual and/or branched out into different businesses. Remember for a time it was impossible to get a home delivery from the supermarket or anywhere else? Business owners who had access to fleets of vans and trucks who were "not working" and on furlough, refitted those vans with refrigeration units and started doing home deliveries, especially for the elderly and those with medical issues. Quite lucrative at the time

Anyway, the nail in the coffin for these guys was similar to the financial institutions and large corporations in 2008/9 - they took the money our government gave them, along with the money they were earning from their usual jobs, which allegedly they had ceased doing, plus the money they made from side hustles, and used these funds to make investments. When the market reopened and the economy went ballistic, a number of folks bought out other businesses or massively expanded their own business, thinking the economic boom would last forever. Nope. Many of them were in construction, trades or trade-related activities like suppliers of materials and units for kitchens, bathrooms, home improvements, etc. Now they are totally cooked. They've overextended themselves and are at risk of their entire operations collapsing. If they had just been honest and used the money they got from the government to support their own business, they would have been fine. But people in general aren't honest anymore. They got greedy and I got schadenfreude 

I gave them free advice and they ignored me. These guys now go out of their way to avoid me as they can't deal with the shame. I would never say "I told you so" because I feel bad for them, I know their families and how far they have fallen, but still. Trying to rapidly expand a consumer business during a cost of living crisis and regulatory uncertainty crisis (Brexit/NI Protocol) is perhaps not the greatest idea

20 hours ago, katyc said:

But if you don't hold it, yah don't own it

https://www.express.co.uk/finance/personalfinance/1909081/uk-second-biggest-gold-nation-research/amp

I was going to post this a couple of days ago but forgot. Here's the TL:DR for @James32 who doesn't like to read:

 

[kimchiflower]

21 minutes ago, HonestMoneyGoldSilver said:

Similar things happened in 2020-22 as in 2008-9

In 2008 they had the TARP funds and handed out money to anyone who said they needed it without checking their accounts. I find this hilarious but I have a twisted sense of humour. A lot of companies who didn't need the money, took the money anyway, and used the excess funds to buy out their competitors at fire sale prices. Most were eventually caught and prosecuted but a nice idea nevertheless 😂

Several folks I know did something similar during the plandemic. They took the money that came their way and continued doing business as usual and/or branched out into different businesses. Remember for a time it was impossible to get a home delivery from the supermarket or anywhere else? Business owners who had access to fleets of vans and trucks who were "not working" and on furlough, refitted those vans with refrigeration units and started doing home deliveries, especially for the elderly and those with medical issues. Quite lucrative at the time

Anyway, the nail in the coffin for these guys was similar to the financial institutions and large corporations in 2008/9 - they took the money our government gave them, along with the money they were earning from their usual jobs, which allegedly they had ceased doing, plus the money they made from side hustles, and used these funds to make investments. When the market reopened and the economy went ballistic, a number of folks bought out other businesses or massively expanded their own business, thinking the economic boom would last forever. Nope. Many of them were in construction, trades or trade-related activities like suppliers of materials and units for kitchens, bathrooms, home improvements, etc. Now they are totally cooked. They've overextended themselves and are at risk of their entire operations collapsing. If they had just been honest and used the money they got from the government to support their own business, they would have been fine. But people in general aren't honest anymore. They got greedy and I got schadenfreude 

I gave them free advice and they ignored me. These guys now go out of their way to avoid me as they can't deal with the shame. I would never say "I told you so" because I feel bad for them, I know their families and how far they have fallen, but still. Trying to rapidly expand a consumer business during a cost of living crisis and regulatory uncertainty crisis (Brexit/NI Protocol) is perhaps not the greatest idea

I was going to post this a couple of days ago but forgot. Here's the TL:DR for @James32 who doesn't like to read:

 

ETF grammes per capital is the more interesting stat, but I suspect smaller wealthy countries such as Luxembourg, Norway & the Vatican would top that list 

 

However, it's not clear who holds those ETFs in the article - is it retail investors? Physical holdings per capita would also be interesting, but I'm not sure how we'd know which is kinda one of the advantages of holding physical 

[Gruff]

44 minutes ago, HonestMoneyGoldSilver said:

They got greedy and I got schadenfreude 

Lovely word that. Not direct word or phrase in English, but I hear it at work. 

[Darr3nG]

54 minutes ago, HonestMoneyGoldSilver said:

Here's the TL:DR for @James32 who doesn't like to read

Is he #11 on the list?

[HonestMoneyGoldSilver]

1 minute ago, Darr3nG said:

Is he #11 on the list?

He is on many lists but not this one 😁

[Roy]

Schadenfreude and zeitgeist 

Lovely words! Try to slip one into a conversation today 😉

[Paul]

8 minutes ago, Roy said:

Schadenfreude and zeitgeist 

Lovely words! Try to slip one into a conversation today 😉

[Bratnia]

25 minutes ago, Gruff said:

Lovely word that [schadenfreude]. Not direct word or phrase in English, but I hear it at work. 

Sadistic? (Taking pleasure in the suffering of others).

[Gruff]

 

 

1 minute ago, Bratnia said:

Sadistic? (Taking pleasure in the suffering of others).

I wouldn't say sadistic. It's just a nice word to use and it has it's use cases when crunts get their comeuppance 

[Roy]

31 minutes ago, Roy said:

Schadenfreude and zeitgeist 

Lovely words! Try to slip one into a conversation today 😉

Hey @Gruff! I say old boy, have you seen the bitcoin dump?

I hear @ArgentSmith got burned, and @HonestMoneyGoldSilver....well, he got schadenfreude 😂

[Bratnia]

56 minutes ago, kimchiflower said:

ETF grammes per capital is the more interesting stat, but I suspect smaller wealthy countries such as Luxembourg, Norway & the Vatican would top that list 

However, it's not clear who holds those ETFs in the article - is it retail investors? Physical holdings per capita would also be interesting, but I'm not sure how we'd know which is kinda one of the advantages of holding physical 

Fiat gold. I wanna buy a million ounces .... cash market just hands over a slip - creates more paper-gold. And where there's multiples more paper-gold than there is physical gold in the whole world. Fine until many opt to take physical delivery of that gold ... when .... opps! Errr - we can't do that, but no matter, either the taxpayer bails them out and as part of that the UK government opts to confiscate physical gold from anyone holding other than token amounts (wedding rings, teeth caps etc.). Or introduces laws to impose a 100% export duty on gold (prohibit exportation of gold) and sets a fixed price per ounce, £4.24/ounce perhaps as per the old standard, and settles claims in cash. Or better still, those asking for physical delivery just accept that isn't possible and their holdings continue to maintain its value ... everyone happy.

[Gruff]

26 minutes ago, Roy said:

Hey @Gruff! I say old boy, have you seen the bitcoin dump?

I hear @ArgentSmith got burned, and @HonestMoneyGoldSilver....well, he got schadenfreude 😂

I have seen the recent drop, but it's all good. I've been worse off... this is like a flesh wound  

[Thelonerangershorse]

1 hour ago, Gruff said:

Lovely word that. Not direct word or phrase in English, but I hear it at work. 

I work for a german company, I hear lots of words that I don't understand also.