Gold Monitoring Thread £ GBP only

[ZRPMs]

23 minutes ago, Gruff said:

So to continue that thought.

Current UK debt pile - £2.72 trillion
Current gold holdings in troy ounces 9976055.15
GBP/t.oz - £272652.86

I'd be happy if we just got to £100,000 an ounce. It'd keep the good lady in shoes and hand bags and the little one could have tropical frogs For the rest of my natural existence. Might tug at the wallet a little if I wanted to get some new sovereigns though.

These national debt figures really are mind blowing and it's hard to comprehend a possible way out of this. I'd like to think I've got in the region of another 30 to 40 years contained in my mortal coil. It makes me wonder though, As @Paul say's

1 hour ago, Paul said:

Just goes to show, the these multi trillion numbers are absolutely incomprehensible in sheer size on paper, but when you view them against LBMA "good delivery" 400oz bars, it gives a little insight into the hole we are in with these fiat debt money systems we are in, and it only took just over 50 years since 1971 for it happen 

What sort of mess will be left for the children and the grandchildren. I'd like to think I've made some provisions for mine but as it accelerates, but who can tell.

 

[ZRPMs]

11 minutes ago, Chronos said:

Reported for mentioning s****r.

My auto correct has it in for me. It's Platinum really. Oh no it's not

[Chronos]

Warren Buffett's Berkshire Hathaway now owns more short-term Treasurys than the Fed:

https://markets.businessinsider.com/news/bonds/warren-buffett-owns-more-t-bills-yields-federal-reserve-berkshire-2024-8

[Chronos]

America’s Debt Crisis Is Getting Too Big to Solve:

https://archive.ph/xw7BH

[Coverte]

 

[Paul]

1 hour ago, Chronos said:

America’s Debt Crisis Is Getting Too Big to Solve:

They should just print more money to pay it off.

Pretty simple really ......ddurrrrrrrrrrr 😕

[Bratnia]

5 hours ago, Paul said:

Just some afternoon gold fun with numbers & using ChatGPT because im finished my work for today

• Our chief cashier says at 2.40 into the video 
• The BOE has (x9) vaults
• Holding collectively 400,000 LBMA "good delivery" bars, worth about £250billion 

Have a fiddle about with ChatGPT as our "data monkey/calculations geek"

Lets ask it some things:

 

Q1.  What is 250 billion UK pounds as a percentage of 35 trillion US dollars

A1. 250 billion UK pounds is approximately 0.91% of 35 trillion US dollars, assuming an exchange rate of 1.27 USD per GBP.

So not even with all that gold there it is not even 1% of the current USA national debt 

 

Q2. On the basis of a LBMA good delivery gold bar is 400oz of gold - how many good delivery bars could you buy with 35 trillion US dollars on the basis that gold is at $2414 a troy oz

A2.  So, you could buy approximately 36,274,509 LBMA good delivery gold bars with $35 trillion at a gold price of $2,414 per troy ounce.

 

Q3.  If I had 36,274,509 LBMA good delivery gold bars, how do this compare the nations of the world and the total gold holdings of all countries

A3. 

To give you a perspective on 36,274,509 LBMA (London Bullion Market Association) good delivery gold bars, let’s break down the numbers and compare them to global gold holdings.

1. Standard Gold Bar Specifications: An LBMA good delivery gold bar typically weighs about 400 troy ounces, or approximately 12.4 kilograms.

2. Total Weight Calculation:
   - Each bar: 12.4 kg
   - Total bars: 36,274,509
   - Total weight: 36,274,509 bars × 12.4 kg/bar = 449,593,092 kg

3. Convert to Metric Tons:
   - 1 metric ton = 1,000 kg
   - Total weight in metric tons: 449,593,092 kg / 1,000 = 449,593.092 metric tons

4.  Global Gold Holdings:
   - As of recent estimates, the total gold holdings of all countries amount to approximately 35,000 metric tons. This includes central bank reserves and other national holdings.

Comparison:
- Your 449,593.092 metric tons would be vastly more than the total gold holdings of all countries combined.

In fact, it’s about 12.8 times greater than the global total.

In summary, 36,274,509 LBMA good delivery gold bars represent an amount of gold far exceeding the combined official gold reserves of all the countries in the world.

 

Q4.  if gold was revalued to pay off its national debt of 35 trillion USD, based on the historically held USA gold reserves

A4. So, to pay off a $35 trillion national debt with the existing gold reserves of 261 millions oz, the price of gold would need to be approximately $134,000 per troy ounce.

 

 

Just goes to show, the these multi trillion numbers are absolutely incomprehensible in sheer size on paper, but when you view them against LBMA "good delivery" 400oz bars, it gives a little insight into the hole we are in with these fiat debt money systems we are in, and it only took just over 50 years since 1971 for it happen   

 

Carry on stacking folks, i think is the best advice 

We're into a fiat gold era. Have enough money to buy all the gold in the world and the London Metal Exchange would sell that amount to you tomorrow. Cash settled, where they just create paper gold out of thin air (Futures/Options contracts).

US 8000 tons of gold, 233,333,333 toz at $2400/toz price when there's 61.5 times more paper-gold than physical gold and including the physical gold = $35 trillion value = US debt.

The UK secures 5500 tons of gold bars in its vaults, mostly as custodians for others, a remnant from when physical bars were moved between different countries vaults in reflection of trade deficit/surplus.

Total global debt is around $300 trillion, to cover that with paper (fiat) gold would require a 550 times more paper gold than physical gold ratio. However a chunk of that debt cancels, countries may hold some of each others debts. https://usdebtclock.org/gold-precious-metals.html recently indicates that there's 127 times more paper gold than physical gold.

If a move to revalue gold to pay off debts occurred then you can firmly bet that you wouldn't benefit from that, it would be accompanied with restrictions/compulsory purchases/whatever. Equally there'd be no money ...etc. the global financial system would collapse and we'd be back into the stone age and having to barter/fight.

[James32]

£1905

[Darr3nG]

1 minute ago, James32 said:

£1905

High bid?

[bobski]

Current Price

£1,905.28

Live Change

0.00% £0.00

Live high £1,905.28

 

Live low £1,905.28

[Paul]

10 minutes ago, Bratnia said:

We're into a fiat gold era. Have enough money to buy all the gold in the world and the London Metal Exchange would sell that amount to you tomorrow. Cash settled, where they just create paper gold out of thin air (Futures/Options contracts).

US 8000 tons of gold, 233,333,333 toz at $2400/toz price when there's 61.5 times more paper-gold than physical gold and including the physical gold = $35 trillion value = US debt.

The UK secures 5500 tons of gold bars in its vaults, mostly as custodians for others, a remnant from when physical bars were moved between different countries vaults in reflection of trade deficit/surplus.

Total global debt is around $300 trillion, to cover that with paper (fiat) gold would require a 550 times more paper gold than physical gold ratio. However a chunk of that debt cancels, countries may hold some of each others debts. https://usdebtclock.org/gold-precious-metals.html recently indicates that there's 127 times more paper gold than physical gold.

If a move to revalue gold to pay off debts occurred then you can firmly bet that you wouldn't benefit from that, it would be accompanied with restrictions/compulsory purchases/whatever. Equally there'd be no money ...etc. the global financial system would collapse and we'd be back into the stone age and having to barter/fight.

It's a mad world ain't it ?

When you start to add in the unfunded liabilities, future markets, carry trades, paper trades and other stuff in between 

It multiplies the madness many times, hundred fold, doesn't it ?

Still, we could all trust in bitcoin and have a small fractional share of invisibility out of a pre limited share of invisibility 

[Paul]

10 minutes ago, James32 said:

£1905

Boooooooooooo !!!!

Too dear 

I'm oooooooot

#stacksilver #silversGonnaMakeUsRich 

[Paul]

Ah, the eternal quest for wealth accumulation through precious metal

a true reflection of the deeply ingrained capitalist mindset that prioritizes personal financial gain over collective well-being.

It's fascinating, really, how society continues to place such value on tangible commodities like gold, which, by the way, has historically been a symbol of colonialism, exploitation, and environmental degradation. 

 

But let’s not overlook silver, the "underdog" in this narrative. Silver, often dismissed as second best, carries with it its own dark legacy of extraction and inequality.

The fact that we're lamenting not having bought silver instead of gold speaks volumes about the deeply entrenched societal values that glorify wealth accumulation at the expense of ethical considerations. 

 

Moreover, this fixation on precious metals reveals a lack of awareness about the real issues at hand—like wealth disparity, environmental destruction, and the perpetuation of systems that benefit the few at the expense of the many.

Perhaps it's time to reflect on why you feel the need to invest in these metals at all, rather than contributing to a more equitable and sustainable future for all.

After all, isn't it more "precious" to invest in the well-being of our planet and the collective good of humanity than to hoard resources in hopes of personal financial gain 

 

 

PS .......m if anyone's got any cheap platinum, me a PM 

TIA ❤️ much love  😘 

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( . . . . .  It's for a friend ) 

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Honest 😉 

[Thelonerangershorse]

1 hour ago, Paul said:

Moreover, this fixation on precious metals reveals a lack of awareness about the real issues at hand—like wealth disparity, environmental destruction, and the perpetuation of systems that benefit the few at the expense of the many.

Perhaps it's time to reflect on why you feel the need to invest in these metals at all, rather than contributing to a more equitable and sustainable future for all.

Given that you're posting this on a PM collecting forum, It looks more like you're in line for 30 pieces of silver rather than some platinum.

[bobski]

Current Price

£1,901.95

Live Change

0.04% £+0.75

Live high £1,902.90

 

Live low £1,900.64

[Bratnia]

7 hours ago, Paul said:

Perhaps it's time to reflect on why you feel the need to invest in these metals at all

Gold is the most dullest of elements, doesn't rust, is solid rather than liquid/gas, easily divisible, rare enough to be valued but not so rare that it can't be used as a currency, is worth its weight. You might work for another for a IOU or for something that in itself is something physical and worth that time/effort. Silver is the next closest, both have tended to be used as currencies. Saving/investing is largely the setting aside of surplus capital today for spending at a later date where ideally that capital has at least maintained its purchases power at that later date. A good choice of currencies to achieve that (and more) are stocks and gold. Many are comfortable with stocks and bonds (debt/IOU's), but that is concentration into counter-party risks. Gold instead of bonds has that element in-hand with no counter-party risk.

Money is a enabler for the advancement/benefit to mankind, without money collective pooling/spending is at best awkward. Saving ('hoarding') is largely the setting aside of capital during younger years in preparation for later when your human capital has declined.

Prior generations had less need to save. The state pension and healthcare systems, collective insurance, were adequate enough to see the retired through. Mass migration for a 'better life' such as pensions, healthcare has depleted/robbed that to levels increasingly where individuals need to have capital. Individual insurance however is a lot more variable/risky so there's a individualistic push towards having saved more-than-enough ... just in case. It is suggested that migration benefits the community - it clearly doesn't. Formerly families predominately worked on a basis of dad went out to work to bring in money, mum stayed at home to look after the kids and grandparents, a typical family wage x 2.5 years was enough to buy a house. Nowadays both mum and dad have to work, it costs 10x to buy a house, and they also have to pay for child and elderly care ... as they both need to be out and working.

[theman73]

3 minutes ago, Bratnia said:

It is suggested that migration benefits the community - it clearly doesn't. Formerly families predominately worked on a basis of dad went out to work to bring in money, mum stayed at home to look after the kids and grandparents, a typical family wage x 2.5 years was enough to buy a house. Nowadays both mum and dad have to work, it costs 10x to buy a house, and they also have to pay for child and elderly care ... as they both need to be out and working.

You should explain that that times we were in an exploitation capitalism where the Western countries mugged all day long the poor countries for very very cheap resources enabling a relatively comfortable life for the Western people. The second you will pay the Zimbabwean miner a real wage related to his work the prosperity of the West is over.

The palpable decline in quality of life in Western countries is just the beginning. It will be worse, just have patience.

[Bratnia]

Labour plan to build 1.5 million new homes during their 5 year government term. By the time 1.5 million+ migrants arrive and are granted right to stay and then bring across their dependents/relatives !!! They also have intent to make asylum claims quicker/easier - can't be sent back anyway so just grant them right to stay, which is inclined to scale the numbers multiples. Engineered social decline.

[theman73]

9 minutes ago, Bratnia said:

Labour plan to build 1.5 million new homes during their 5 year government term.

They won't be allowed to do this, for one reason or another, they will be allowed to build maybe 10% of that to keep the artificially inflated housing prices up.

Edited August 9 by theman73

[Bratnia]

1 minute ago, theman73 said:

They won't be allowed to do this, for a pretext or another they will be allowed to build maybe 10% of that to keep the artificially inflated housing prices up.

Indeed. And as migration numbers scale, where many of those may be prepared to live three families per home, as that's still more comfortable/better than 'at home' when all of the other benefits (free healthcare etc) are factored in, potentially six working, so house prices will rise.

[Bratnia]

11 minutes ago, theman73 said:

You should explain that that times we were in an exploitation capitalism where the Western countries mugged all day long the poor countries for very very cheap resources enabling a relatively comfortable life for the Western people. The second you will pay the Zimbabwean miner a real wage related to his work the prosperity of the West is over.

The palpable decline in quality of life in Western countries is just the beginning. It will be worse, just have patience.

Slavery has persisted across time. Enslavement and sacrifice of whites is right up there, if not one of the highest. WW1 and slaves were railroaded into trenches and at the blow of a whistle had to climb out and run towards cross firing machine guns. Today the minimum wage is less than what it would otherwise cost to shelter, feed, clothe slaves directly. Increasingly we live in a open prison where all of your movements, thoughts, actions are observed/recorded, only those that are naughty are locked into confinement/prison.

[ZRPMs]

8 hours ago, Paul said:

Ah, the eternal quest for wealth accumulation through precious metal

a true reflection of the deeply ingrained capitalist mindset that prioritizes personal financial gain over collective well-being.

It's fascinating, really, how society continues to place such value on tangible commodities like gold, which, by the way, has historically been a symbol of colonialism, exploitation, and environmental degradation. 

 

But let’s not overlook silver, the "underdog" in this narrative. Silver, often dismissed as second best, carries with it its own dark legacy of extraction and inequality.

The fact that we're lamenting not having bought silver instead of gold speaks volumes about the deeply entrenched societal values that glorify wealth accumulation at the expense of ethical considerations. 

 

Moreover, this fixation on precious metals reveals a lack of awareness about the real issues at hand—like wealth disparity, environmental destruction, and the perpetuation of systems that benefit the few at the expense of the many.

Perhaps it's time to reflect on why you feel the need to invest in these metals at all, rather than contributing to a more equitable and sustainable future for all.

After all, isn't it more "precious" to invest in the well-being of our planet and the collective good of humanity than to hoard resources in hopes of personal financial gain 

 

 

PS .......m if anyone's got any cheap platinum, me a PM 

TIA ❤️ much love  😘 

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.

 .

 

 

( . . . . .  It's for a friend ) 

.

.

.

. 

Honest 😉 

 So it's ok to buy silver now?

[Paul]

4 minutes ago, ZRPMs said:

 So it's ok to buy silver now?

I'm buying Japanese yen with Wonger

[Bratnia]

1 minute ago, ZRPMs said:

 So it's ok to buy silver now?

At a gold/silver ratio of 88 ... yep

Avoid debt based currencies/savings, Pounds/Gilts ... IOU's that are designed to devalue. Accumulate enough in global stocks and gold (global currency) .... freedom. Escape to the moon

 

[Gruff]

30 minutes ago, theman73 said:

They won't be allowed to do this, for one reason or another, they will be allowed to build maybe 10% of that to keep the artificially inflated housing prices up.

I said this a couple weeks ago somewhere else. They won't be building 300,000 houses/year. The housebuilders will stall and delay as it'll eat into their predicted profits with all the land they sit on etc..
Politicians and their mates all own multiple homes and so they will want to keep the value up and housing supply short to drive rental prices higher still.