Gold Monitoring Thread £ GBP only

[Bratnia]

17 minutes ago, theman73 said:

What about tories? 50% fever total votes?

Well Labour in declaring that 7% fewer votes has been a great achievement, I doubt you'll hear much from the Tories as they're likely legless due to having been out all night celebrating its outstanding achievement.

Edited July 5 by Bratnia

[modofantasma]

NFP at usual time today folks. Careful if you're trading 

[Bratnia]

1 hour ago, Dankanugget said:

Someone tell gold we have a new government which spends lots of cash

Markets spike in reflection of unexpected events. A Labour government with a large majority has been expected since the election was called six weeks ago, that's when the price of gold moved in reflection of that unexpected event (markets had been pricing to a November expected General Election date).

[Thelonerangershorse]

1 hour ago, Paul said:

Who's just looking to be earning £12,570 going forward from today

Basically we just swaped the highest tax burden since WWII for Kier "Hold my beer" Starmer.

For the benefit of all the millenials who don't remember living under a labour government, that light you see ahead isn't the end of the tunnel, it's an oncoming train.

[modofantasma]

Gold price £1848

[Bratnia]

1 hour ago, Thelonerangershorse said:

Basically we just swaped the highest tax burden since WWII for Kier "Hold my beer" Starmer.

For the benefit of all the millenials who don't remember living under a labour government, that light you see ahead isn't the end of the tunnel, it's an oncoming train.

Taxes are already at a 70-year high, and yet we are nowhere close to balancing the books. GDP ratio is close to 100 per cent, very near to the 112 per cent level that has just led to the humiliating downgrade of France’s credit rating. We are still racking up huge off-balance sheet debts. There is already £200 billion of outstanding student debt, and that is forecast to rise to over £400 billion by the 2040s (few believe that graduates will earn enough to pay back their loans in full, especially as our zero-growth economy is hardly creating any new professional jobs to absorb them all).

We are on the hook for some £2.6 trillion in “unfunded” public sector pension entitlements. We are legally mandated to hit a net zero target which the OBR has calculated could add at least another £300 billion to the government’s costs. A few minor tweaks to the tax system, such as clamping down on tax avoidance or getting tougher on non-doms, are not going to make any difference to that. The OBR has pointed out that the tax burden is set to rise. We face extra spending on health and social care as the population ages.

We are at, or close to, our taxable limit, the UK is perilously close to national bankruptcy, at which point the price of gold in terms of Pounds is inclined to soar.

[SidS]

Back up the truck.

[Paul]

3 minutes ago, SidS said:

Back up the truck.

Beep Beep ! 🚚

[Brit2023]

Didn’t Richi forget to fix the rates on the loans he took out to pay for covid? I don’t mind paying a little more if things like nhs get mended.

[Bratnia]

6 minutes ago, Bratnia said:

Taxes are already at a 70-year high, and yet we are nowhere close to balancing the books. GDP ratio is close to 100 per cent, very near to the 112 per cent level that has just led to the humiliating downgrade of France’s credit rating. We are still racking up huge off-balance sheet debts. There is already £200 billion of outstanding student debt, and that is forecast to rise to over £400 billion by the 2040s (few believe that graduates will earn enough to pay back their loans in full, especially as our zero-growth economy is hardly creating any new professional jobs to absorb them all).

We are on the hook for some £2.6 trillion in “unfunded” public sector pension entitlements. We are legally mandated to hit a net zero target which the OBR has calculated could add at least another £300 billion to the government’s costs. A few minor tweaks to the tax system, such as clamping down on tax avoidance or getting tougher on non-doms, are not going to make any difference to that. The OBR has pointed out that the tax burden is set to rise. We face extra spending on health and social care as the population ages.

We are at, or close to, our taxable limit, the UK is perilously close to national bankruptcy, at which point the price of gold in terms of Pounds is inclined to soar.

What happened when Labour last drove us into bankruptcy? The Beatles were singing 'Taxman' ... 19 for you, 1 for me ... in reflection of their 95% taxation rates. In 1968 Labour set a retrospective 130% tax rate, yep, earn £1, own £1.30 in tax. Inflation rose from modest/low levels up to 25% at the point of bankruptcy. Gold over the same period increased 5.5 fold (so like recent £1840/ounce price rising to £10,000/ounce).

At the point of bankruptcy that's a good time to buy into stocks, when there's blood on the streets in Buffett's terminology, at least for those that have surplus capital available to invest (that you might have if you'd been holding some gold).

I say bankruptcy but in reality it was more just a crisis, some say the International Monetary Fund bailed the UK out in 1976, but rather it just tabled a amount that wasn't actually called upon/used, in place just in case the UK couldn't cover its debt interest payments. This time it could be worse, a bailout actually being needed, a harder hit, a greater increase in the price of gold.

[Bratnia]

1 minute ago, Brit2023 said:

Didn’t Richi forget to fix the rates on the loans he took out to pay for covid? I don’t mind paying a little more if things like nhs get mended.

He didn't even record the details or validate who was being lent to, were more a gift - largely to gangs who just said thanks very much and disappeared.

[Bratnia]

In the event of a domestic crisis, gold rising strongly, you need to take care not to sell all of your gold at a apparent high price, as the price may continue to further explode

Gold in Germany from 1919 to 1921 had risen a lot, tempting to sell it all perhaps. But then in 1922/23 the price of gold really took off to da moon.

[HonestMoneyGoldSilver]

6 hours ago, Gruff said:

Halt the battle on the battlefield as we need to recharge the tanks. 
How long will that take? 
We don't know as there is no wind and the skies are polluted so the solar panels are working well enough, perhaps 5 to 10 days.

Jolly good old chap, lets us know when to recommence..

Muppets taking 5 breaks a day to pray to Satan in an electric tank that is intermittently travelling towards Gaza rather than the intended target. They have to take a month off to get their weight up and develop diabetes, pretending to fast while they eat all night and sleep all day like obese teenagers. Then when they arrive in Gaza they don't even fire the bloody tank, they drive towards the Jewish civilians and blow themselves up!! 

2 hours ago, Brit2023 said:

Didn’t Richi forget to fix the rates on the loans he took out to pay for covid? I don’t mind paying a little more if things like nhs get mended.

We can't fix it on our current trajectory - it's unsustainable. If we started doing the right things today it would take us 20 years to get the NHS back to how it was in the year 2000. If we continue adding 1 million migrants a year it's game over. Our roads can't handle that level of abuse let alone our NHS.

The budgets and forecasts are based on official government figures and targets. So they plan and budget for 30,000 migrants and they get 1,000,000, which is why you can't get an operation or an ambulance. These migrants aren't exactly in perfect health when they come here so they absorb greater resources per person in health and dentistry than indigenous citizens.

I realise I'm a broken record but our society will collapse if we keep on this course. France is just a little bit ahead of us and they are ready to vote for quite a distasteful character in the hope they can get their country back to some semblance of what it used to be. In the UK we need to go zero tolerance, deport anyone who isn't a genuine asylum seeker (which is 99%), deport anyone who came here via marrying their cousins/incest (the sins of Canaan), deport all who support Hamas and Islamic jihad, deport everyone who arrived here from an EU nation back to that EU nation, close the borders, and start again. Anything less and we are doomed

All of the above will ensure gold and s***** go to the moon as the only way to pay for this treachery is to print more money and force the rest of us to pay for it primarily by inflation and increased taxation.

The main reason our country is failing is because 10 million of our "citizens" prioritise another country over the UK and don't even consider themselves to be British. They are actively trying to destroy us from within and have no allegiance to us whatsoever. I mean why would they? We only funded their entire existence like the British taxpayer was their parents. So they are emboldened in local and national UK elections to put Gaza as their #1 priority above the citizens of the UK, above our NHS, education, public services and military. Our country is failing because millions are actively working against it from within. 

TL:DR - Gold to the moon while western society collapses

Edited July 5 by HonestMoneyGoldSilver
bold

[James32]

£1860 weeeeeeeee

[Thelonerangershorse]

12 minutes ago, James32 said:

weeeeeeeee

Have you just peed yourself in excitement?

[James32]

15 minutes ago, Thelonerangershorse said:

Have you just peed yourself in excitement?

Put the soup down..today is a caviar day!

Also, one does not pee like normal folk.

[Dankanugget]

17 minutes ago, Thelonerangershorse said:

Have you just peed yourself in excitement?

 

17 minutes ago, Thelonerangershorse said:

Have you just peed yourself in excitement?

Peasant pee pee

[gji25]

Get ready for the new Labour gov to crash the economy

[James32]

£1863.77

[dicker]

19 minutes ago, gji25 said:

Get ready for the new Labour gov to crash the economy

How long before we go to war?

[Paul]

14 minutes ago, James32 said:

£1863.77

The one bit good news of a labour government, gold most likely to keep its upward trajectory for the foreseeable few years, as the pound £ tanks against the USD $ and borrowing on the never never from the magic money tree begins in earnest with Rachael Reeves taking the reins of chief bean counter today

[HerefordBullyun]

3 minutes ago, dicker said:

How long before we go to war?

The royal we? Wont be thee - done my time and crime if starmer appoints corbyn well be bombing the shiote outa isreal in no time!

[HonestMoneyGoldSilver]

9 minutes ago, Paul said:

The one bit good news of a labour government, gold most likely to keep its upward trajectory for the foreseeable few years, as the pound £ tanks against the USD $ and borrowing on the never never from the magic money tree begins in earnest with Rachael Reeves taking the reins of chief bean counter today

The USD and Euro are in just as perilous a position as GBP. The Euro is in danger of ceasing to exist in its current form. The common thread linking their destruction? Mass migration, communism and wokeism. Large parts of the USA are in a sorry state, even worse than us. Europe is worse than us (France, Netherlands, Belgium, Sweden, Germany). It's more likely IMHO that all of our currencies depreciate against gold, although there will be variation.

The GBP/USD is already trading in an historically low band and sure, it could tank to parity, but that would imply the USA was on the right trajectory. Even Powell admits the current trajectory of the US is unsustainable and at some point something has to give. Just as commentators in the US are hype merchants when discussing the total collapse of the USD, so too are those in the UK who say the same about GBP. We're both on a steady downward trajectory and at a roughly similar pace. Analysts are split on GBP/USD, with some talking about parity and others talking about £1=$1.45. Who knows how it will shake out. The only certain thing is that gold will continue to appreciate against fiat

[HonestMoneyGoldSilver]

16 minutes ago, HerefordBullyun said:

The royal we? Wont be thee - done my time and crime if starmer appoints corbyn well be bombing the shiote outa isreal in no time!

Well let's hope not. You might enjoy this video:

 

[Bratnia]

42 minutes ago, dicker said:

How long before we go to war?

As in Civil War? Where the Unions will all be queuing up one by one at #10 each demanding 40% pay awards for there members or else out-brothers-out. Electricity off, no TV/Computers/Phones etc? .... Not long.