Royal mint to sell PAPER!

[5huggy]

The U.K.’s Royal Mint Ltd. is planning to launch a gold ETF in early 2020 in response to rising demand from investors. The Financial Times reports that this would be the first time in its history that the Royal Mint would offer a financial product traded on a stock exchange, and would be the first European sovereign mint to launch a gold-backed exchange-traded commodity. The ETF will be structured as an exchange-traded commodity (ETC), which is a debt security backed by gold stored in the mint’s vault.

[mr-dead]

"Backed by gold stored in the mint’s vault."

 

at what ratio, I bet it's not 1:1.  why sell your physical gold once when you can sell the same gold as a paper promise several times over.

[JackKlugman]

23 minutes ago, mr-dead said:

"Backed by gold stored in the mint’s vault."

 

at what ratio, I bet it's not 1:1.  why sell your physical gold once when you can sell the same gold as a paper promise several times over.

Lol that can’t be legal, but that has never stoped the UK government. 

[goldmember44]

inconvenient truth: the UK doesn't have enough physical gold anymore, after Gordon Brown sold most of it off to save an American investment bank's short positions. Now they have to sell imaginary gold to cope with rising demand. I wonder how many people believe these financial instruments on offer would actually be backed 1:1 by physical gold... I certainly don't for one minute.

[ittle5huggy]

Is this paper to be used with that Bog that got stolen ??????

[mr-dead]

15 minutes ago, goldmember44 said:

inconvenient truth: the UK doesn't have enough physical gold anymore, after Gordon Brown sold most of it off to save an American investment bank's short positions. Now they have to sell imaginary gold to cope with rising demand. I wonder how many people believe these financial instruments on offer would actually be backed 1:1 by physical gold... I certainly don't for one minute.

It could be worse, we could be Canada that sold all their gold.

 

[ittle5huggy]

4 minutes ago, mr-dead said:

It could be worse, we could be Canada that sold all their gold.

yeah... but @mr-dead they do kind of have some deep vaulted yellow just needs digging up

[ittle5huggy]

not to mention that horrible silver rubbish 🤣

[mr-dead]

2 minutes ago, ittle5huggy said:

yeah... but @mr-dead they do kind of have some deep vaulted yellow just needs digging up

True, but I would still prefer a kg bar of refined gold in the hand over a kg gold spread over several hundred metric tonne of dirt and rock lol

[ittle5huggy]

1 minute ago, mr-dead said:

True, but I would still prefer a kg bar of refined gold in the hand over a kg gold spread over several metric tonne of dirt and rock lol

Come on where there's muck there's Brass don't thee knows I'm going mining landfill for all that electronic gold and silver tat, that's UK gold reserve 🤣

[ittle5huggy]

I reckon they'll launch with the buy for your kids future.... heres a mock up of what I think it may look like.....

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SMALL PRINT DON'T ASK FOR SHINNY STUFF EITHER LIKE ME IT'S ETHEREAL!

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[RoughDog]

1 hour ago, mr-dead said:

1 hour ago, mr-dead said:

It could be worse, we could be Canada that sold all their gold.

 

Although they still seem to mint some of the finest bullion.

 

[5huggy]

central bank and mint are entirely different entities!

[Pete]

Everyone should watch the addictive series ( UK film crew by the way ) shown on Discovery channel called Gold Rush.
Repeats of series 9 are currently being screened but it helps if you have watched the earlier series but that's a lot of telly viewing now.
Latest series 10 is due to screen in about a month from now.
Watch them strip vast amounts of land in and around Alaska and wash rocks to find gold.
Getting a few flecks from a metric tonne of "pay dirt" puts things into perspective when you hold that one ounce in your hand.
Alternatively "Parkers Trail" in Papua New Guinea is an eyeopener in finding gold.
See what the locals have to do to find a couple of grams per day to try to survive.

[ittle5huggy]

2 hours ago, JackKlugman said:

Lol that can’t be legal, but that has never stoped the UK government. 

Yeah but thats how all ETF's work... they sell the same stuff to hundreds if not millions of people.... paper gold is NO good in my opion you Don't own it if you don't hold it.... it's a bit like the perpetual bugger in the pub who leaves before it's their round 🤣

[ittle5huggy]

Trouble comes when all the punters ask for their pint to be paid back in the form of a pint and not a promise 🤣 then if you own the pump or the barrel or the brewery your quids in

[Xander]

They reckon there is 400,000 Bars stored in the mint. 

[ittle5huggy]

@Xander was the count done one by one with a revolving door ? 🤣 not doubting but other reports have had gov's turning up to see their holdings to be shown a stack and told there it is....... how about a nice lunch..... bit like the old now you see it now you don't

[Ansel]

1 hour ago, Pete said:

Everyone should watch the addictive series ( UK film crew by the way ) shown on Discovery channel called Gold Rush.
Repeats of series 9 are currently being screened but it helps if you have watched the earlier series but that's a lot of telly viewing now.
Latest series 10 is due to screen in about a month from now.
Watch them strip vast amounts of land in and around Alaska and wash rocks to find gold.
Getting a few flecks from a metric tonne of "pay dirt" puts things into perspective when you hold that one ounce in your hand.
Alternatively "Parkers Trail" in Papua New Guinea is an eyeopener in finding gold.
See what the locals have to do to find a couple of grams per day to try to survive.

Gold Divers is pretty good too. 

[ittle5huggy]

love that program.... those guys are nuts 🥰

[5huggy]

16 minutes ago, Xander said:

there is 400,000 Bars stored in the mint. 

made of WHAT?????😉

[Xander]

3 minutes ago, 5huggy said:

made of WHAT?????😉

Gold of course

[ittle5huggy]

I know Brexit planning....... KIT KAT's n Yorkie's so our truckers don't go hungry at dover 🤣🤣 maybe some Golden Nugets for breakfast 🤣

[DarkChameleon]

18 hours ago, mr-dead said:

It could be worse, we could be Canada that sold all their gold.

 

I bet if we checked out fort Knox wed find pictures of gold standing in front of empty pallets...lol.

[DarkChameleon]

17 hours ago, RoughDog said:

 

Freemilk spots with every purchase.