Go Back   IceInSpace > General Astronomy > General Chat

Closed Thread
 
Thread Tools Rate Thread
  #1  
Old 26-03-2020, 10:47 PM
Bobbyoutback
Registered User

Bobbyoutback is offline
 
Join Date: Oct 2009
Location: Broken Hill
Posts: 283
Real money is Gold

Friends of mine have not been able to buy Gold bullion bars through the Perth Mint of late , reason being they don't have any .
All sold out !

Why ?
Looking forward to see your opinions

Cheers & Beers
Bobby.
  #2  
Old 27-03-2020, 12:09 AM
StuTodd
Registered User

StuTodd is offline
 
Join Date: Dec 2014
Location: Dunedin, New Zealand
Posts: 342
I, almost subconsciously, remember hearing that gold had shot up again (remember the pop-up gold buyers in shopping malls?) and maybe that is why? No absolute proof but, apparently silver is on the up too, so if you want to have a punt on the markets during the global malware, maybe a commodity to look at.

Last edited by StuTodd; 27-03-2020 at 12:27 AM.
  #3  
Old 27-03-2020, 07:45 AM
Imme (Jon)
Registered User

Imme is offline
 
Join Date: Aug 2017
Location: Kyneton
Posts: 748
Gold is being purchased by people dumping shares due to a volatile market.
Mints don’t hold much stock purely because it costs so much to do so. They basically have enough for a short run and that’s about it. Gold prices normally go up quickly as soon as mints/sellers run out of their stock. (That’s my understanding anyway)

Talking money....anyone watching the share market this morning.....crazy pre-open prices following on from a crazy run on the Dow Jones last night given the situation we’re all facing.
There’s money to be made in the market at the moment....but definitely not today!
  #4  
Old 27-03-2020, 11:12 AM
Peter Ward's Avatar
Peter Ward
Galaxy hitchhiking guide

Peter Ward is offline
 
Join Date: Dec 2007
Location: The Shire
Posts: 6,813
The "spot" price is pure fiction at the moment. Dealers such as Perth Mint and ABC Bullion have no stock to sell.

Physical Gold and Silver is now selling for way more than the spot price..100oz silver bars on eBay are seeing sellers ask $40 an ounce. With the USA printing trillions of $ it does make you wonder why the $USD has any value at all...
  #5  
Old 27-03-2020, 02:13 PM
blindman's Avatar
blindman (Neville)
Now I see !!!

blindman is offline
 
Join Date: Feb 2009
Location: Sydney
Posts: 408
One can buy "pre order", shouldn't be a problem.

Yes, the only real money is gold!!!
  #6  
Old 27-03-2020, 07:15 PM
Bobbyoutback
Registered User

Bobbyoutback is offline
 
Join Date: Oct 2009
Location: Broken Hill
Posts: 283
Thanks guys for your thoughts , even silver is difficult to get !

Cheers
Bobby
  #7  
Old 27-03-2020, 07:52 PM
Bobbyoutback
Registered User

Bobbyoutback is offline
 
Join Date: Oct 2009
Location: Broken Hill
Posts: 283
Quote:
Originally Posted by Peter Ward View Post
The "spot" price is pure fiction at the moment. Dealers such as Perth Mint and ABC Bullion have no stock to sell.

Physical Gold and Silver is now selling for way more than the spot price..100oz silver bars on eBay are seeing sellers ask $40 an ounce. With the USA printing trillions of $ it does make you wonder why the $USD has any value at all...
You were correct Peter !

This came out a couple of hours ago :
https://www.dailyreckoning.com.au/tr...ld/2020/03/27/
  #8  
Old 27-03-2020, 09:04 PM
multiweb's Avatar
multiweb (Marc)
ze frogginator

multiweb is offline
 
Join Date: Oct 2007
Location: Hinchinbrook
Posts: 18,543
Quote:
Originally Posted by Peter Ward View Post
With the USA printing trillions of $ it does make you wonder why the $USD has any value at all...
I wonder how long the banks are going to last this time with all the loans and debt. Are we going to have to bail them out again?
  #9  
Old 27-03-2020, 09:25 PM
Bobbyoutback
Registered User

Bobbyoutback is offline
 
Join Date: Oct 2009
Location: Broken Hill
Posts: 283
Quote:
Originally Posted by multiweb View Post
I wonder how long the banks are going to last this time with all the loans and debt. Are we going to have to bail them out again?
Yes .
Bail-in laws already exist for banks to take depositors money
So many think there savings are safe in banks .

Worth Reading ~

https://www.ainsliebullion.com.au/go...0/default.aspx
  #10  
Old 28-03-2020, 12:27 AM
Zuts
Registered User

Zuts is offline
 
Join Date: Mar 2007
Location: sydney
Posts: 1,445
Quote:
Originally Posted by Bobbyoutback View Post
Friends of mine have not been able to buy Gold bullion bars through the Perth Mint of late , reason being they don't have any .
All sold out !

Why ?
Looking forward to see your opinions

Cheers & Beers
Bobby.
Sure keep your money in gold, put it in a bank safe-deposit with no interest at an effective interest rate of negative many %, as you don't get interest and have to pay for storage. So $88,000 Aud a kilo. Convert your savings to Gold, say you have $500,000 in super around 4.5 kg of gold., so convert. ATM its around 2600 aud an ounce. But a few months ago it was around 2000 Aud an ounce. Eventually it will settle down to this, so bang you lose %20, worse than the stockmarket crash.

Gold is never a way to to make money. It's a scared man's way of saving some value in times of stress. I would never call it an investment. People invest for many reasons, one is to have a comfortable retirement. Comfortable is not shaving a bit off your gold bar so you can buy a pack of smokes.

To be brutally honest, maybe generally people may have $10,000, $50,000, $100,000 in gold as part of their super. So what, it's hardly enough to retire on and worse will never provide an income stream as it provides no interest.

In the zombie apocalypse try getting to that bank vault, in any case why would you bother...

I have around 10Kg of silver and some gold. It's in my draw and just sits there, like my remaining partial bitcoins which I cant be bothered cashing out coz they might go up and i may not have to realise my loss. So currently my silver holdings are about $8,000. A few months mortgage. I got the bars for around $610 per kilo. Now around $800. A 30% gain, great but they have been in the draw for around 5 years, what is the lost opportunity cost if i purchased shares or other investments and cashed out before this. Next year it will probably be back to around $600 per kg. So again in the draw for 6 years and no change.

You invest to make money, not just to stay safe in bad times for a few months, of course you can do both, but i reckon Gold is pretty poor money, at least a dollar will always be a dollar, especially in these times of minimal inflation.

Last edited by Zuts; 28-03-2020 at 02:07 AM.
  #11  
Old 28-03-2020, 05:20 PM
fsphotography (Frank)
Registered User

fsphotography is offline
 
Join Date: Mar 2012
Location: geelong , australia
Posts: 34
Quote:
Originally Posted by Bobbyoutback View Post
Yes .
Bail-in laws already exist for banks to take depositors money
So many think there savings are safe in banks .

Worth Reading ~

https://www.ainsliebullion.com.au/go...0/default.aspx

Your link takes us to a misleading manipulated account of what the law is and is being propagated by a company with a vested interest (your money)
and shouldn't promoted. Take the time to properly do your research,that company is being irresponsible and you are helping them?
  #12  
Old 28-03-2020, 05:56 PM
Bobbyoutback
Registered User

Bobbyoutback is offline
 
Join Date: Oct 2009
Location: Broken Hill
Posts: 283
Quote:
Originally Posted by fsphotography View Post
Your link takes us to a misleading manipulated account of what the law is and is being propagated by a company with a vested interest (your money)
and shouldn't promoted. Take the time to properly do your research,that company is being irresponsible and you are helping them?
You may like this one better
https://youtu.be/wYCtT_uNQSM

Cheers
Bobby
  #13  
Old 28-03-2020, 06:47 PM
gregbradley's Avatar
gregbradley
Registered User

gregbradley is offline
 
Join Date: Feb 2006
Location: Sydney
Posts: 15,724
Quote:
Originally Posted by Zuts View Post
Sure keep your money in gold, put it in a bank safe-deposit with no interest at an effective interest rate of negative many %, as you don't get interest and have to pay for storage. So $88,000 Aud a kilo. Convert your savings to Gold, say you have $500,000 in super around 4.5 kg of gold., so convert. ATM its around 2600 aud an ounce. But a few months ago it was around 2000 Aud an ounce. Eventually it will settle down to this, so bang you lose %20, worse than the stockmarket crash.

Gold is never a way to to make money. It's a scared man's way of saving some value in times of stress. I would never call it an investment. People invest for many reasons, one is to have a comfortable retirement. Comfortable is not shaving a bit off your gold bar so you can buy a pack of smokes.

To be brutally honest, maybe generally people may have $10,000, $50,000, $100,000 in gold as part of their super. So what, it's hardly enough to retire on and worse will never provide an income stream as it provides no interest.

In the zombie apocalypse try getting to that bank vault, in any case why would you bother...

I have around 10Kg of silver and some gold. It's in my draw and just sits there, like my remaining partial bitcoins which I cant be bothered cashing out coz they might go up and i may not have to realise my loss. So currently my silver holdings are about $8,000. A few months mortgage. I got the bars for around $610 per kilo. Now around $800. A 30% gain, great but they have been in the draw for around 5 years, what is the lost opportunity cost if i purchased shares or other investments and cashed out before this. Next year it will probably be back to around $600 per kg. So again in the draw for 6 years and no change.

You invest to make money, not just to stay safe in bad times for a few months, of course you can do both, but i reckon Gold is pretty poor money, at least a dollar will always be a dollar, especially in these times of minimal inflation.
A very interesting post. Thank you for posting it.
Greg.
  #14  
Old 28-03-2020, 06:48 PM
gregbradley's Avatar
gregbradley
Registered User

gregbradley is offline
 
Join Date: Feb 2006
Location: Sydney
Posts: 15,724
Quote:
Originally Posted by Zuts View Post
Sure keep your money in gold, put it in a bank safe-deposit with no interest at an effective interest rate of negative many %, as you don't get interest and have to pay for storage. So $88,000 Aud a kilo. Convert your savings to Gold, say you have $500,000 in super around 4.5 kg of gold., so convert. ATM its around 2600 aud an ounce. But a few months ago it was around 2000 Aud an ounce. Eventually it will settle down to this, so bang you lose %20, worse than the stockmarket crash.

Gold is never a way to to make money. It's a scared man's way of saving some value in times of stress. I would never call it an investment. People invest for many reasons, one is to have a comfortable retirement. Comfortable is not shaving a bit off your gold bar so you can buy a pack of smokes.

To be brutally honest, maybe generally people may have $10,000, $50,000, $100,000 in gold as part of their super. So what, it's hardly enough to retire on and worse will never provide an income stream as it provides no interest.

In the zombie apocalypse try getting to that bank vault, in any case why would you bother...

I have around 10Kg of silver and some gold. It's in my draw and just sits there, like my remaining partial bitcoins which I cant be bothered cashing out coz they might go up and i may not have to realise my loss. So currently my silver holdings are about $8,000. A few months mortgage. I got the bars for around $610 per kilo. Now around $800. A 30% gain, great but they have been in the draw for around 5 years, what is the lost opportunity cost if i purchased shares or other investments and cashed out before this. Next year it will probably be back to around $600 per kg. So again in the draw for 6 years and no change.

You invest to make money, not just to stay safe in bad times for a few months, of course you can do both, but i reckon Gold is pretty poor money, at least a dollar will always be a dollar, especially in these times of minimal inflation.
Quote:
Originally Posted by multiweb View Post
I wonder how long the banks are going to last this time with all the loans and debt. Are we going to have to bail them out again?
I don't think we bailed out the banks before, did we?? Hell would freeze over before the big 4 would fall over.

Greg.
  #15  
Old 28-03-2020, 07:49 PM
fsphotography (Frank)
Registered User

fsphotography is offline
 
Join Date: Mar 2012
Location: geelong , australia
Posts: 34
Quote:
Originally Posted by Bobbyoutback View Post
You may like this one better
https://youtu.be/wYCtT_uNQSM

Cheers
Bobby

He's a lawyer and his mouth is moving,we both know what that means.
  #16  
Old 28-03-2020, 08:07 PM
Bobbyoutback
Registered User

Bobbyoutback is offline
 
Join Date: Oct 2009
Location: Broken Hill
Posts: 283
Quote:
Originally Posted by fsphotography View Post
He's a lawyer and his mouth is moving,we both know what that means.
He is a respected economist , if you had watched it ' that would have been obvious .

Have Fun
Bobby
  #17  
Old 28-03-2020, 09:28 PM
Zuts
Registered User

Zuts is offline
 
Join Date: Mar 2007
Location: sydney
Posts: 1,445
Quote:
Originally Posted by Bobbyoutback View Post
He is a respected economist , if you had watched it ' that would have been obvious .

Have Fun
Bobby
Top videos from Adams/North

Adams/North - Australia's Debt Bomb
Adams/North: The RBA's Crumbling Claims About Australia's Gold
Adams/North: Economic Armageddon May Start In Australia
Adams/North: Australia Has Kamikaze Elites

Respected Economist, seems a bit sensationalist to me. Basically one of the pair is an ex liberal party staffer who gained some notoriety and media air after his claims about the reasons for banning cash payments over $10,000. They have no published papers in reputable journals that i can find, so where is the substance of your claim that he is a respected Economist?

Cheers
Paul
  #18  
Old 28-03-2020, 10:32 PM
Bobbyoutback
Registered User

Bobbyoutback is offline
 
Join Date: Oct 2009
Location: Broken Hill
Posts: 283
Paul ' just my opinion as he gets it right , look at his past videos .

Maybe you have become a fan ?

Regards
Bobby .
  #19  
Old 29-03-2020, 01:29 AM
Zuts
Registered User

Zuts is offline
 
Join Date: Mar 2007
Location: sydney
Posts: 1,445
Quote:
Originally Posted by Bobbyoutback View Post
Maybe you have become a fan ?
Is that humor or just plain old trolling?
  #20  
Old 29-03-2020, 08:18 PM
Bobbyoutback
Registered User

Bobbyoutback is offline
 
Join Date: Oct 2009
Location: Broken Hill
Posts: 283
Please watch this !

Serious times are here now for where to place your money before it's buying power fails .
Gold bullion is not obtainable through bullion dealers in Australia for order ' some are offering pre-order , means you pay now & trust you get it sometime in the future .

Watch this Video as Bill Holter pulls no punches !

https://thedailycoin.org/2020/03/26/...-holter-video/

Keep Safe
Bobby .
Closed Thread

Bookmarks

Thread Tools
Rate This Thread
Rate This Thread:

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off

Forum Jump


All times are GMT +10. The time is now 02:45 PM.

Powered by vBulletin Version 3.8.7 | Copyright ©2000 - 2020, Jelsoft Enterprises Ltd.
Advertisement
Lunatico Astronomical
Advertisement
Astromechanics
Advertisement
Testar
Advertisement
Bintel
Advertisement
Astronomy and Electronics Centre
Advertisement