Real money is Gold

[Bobbyoutback]

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.

[StuTodd]

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.

[Imme]

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!

[Peter Ward]

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...:shrug:

[blindman]

One can buy "pre order", shouldn't be a problem.

Yes, the only real money is gold!!!

[Bobbyoutback]

Thanks guys for your thoughts , even silver is difficult to get !

Cheers
Bobby

[Bobbyoutback]

You were correct Peter ! :thumbsup:

This came out a couple of hours ago :
https://www.dailyreckoning.com.au/trying-to-buy-gold-bullion-it-just-got-harder-a-demand-for-gold/2020/03/27/

[multiweb]

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?:question:

[Bobbyoutback]

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/gold-silver-bullion-news/bank-bail-ins-in-australia-e2-80-93-why-your-cash-isn-e2-80-99t-safe/tabid/88/a/2070/default.aspx

[Zuts]

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.

[fsphotography]

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?

[Bobbyoutback]

You may like this one better :rolleyes:
https://youtu.be/wYCtT_uNQSM

Cheers
Bobby

[gregbradley]

A very interesting post. Thank you for posting it.
Greg.

[gregbradley]

I don't think we bailed out the banks before, did we?? Hell would freeze over before the big 4 would fall over.

Greg.

[fsphotography]

He's a lawyer and his mouth is moving,we both know what that means.

[Bobbyoutback]

He is a respected economist , if you had watched it ' that would have been obvious . :D

Have Fun
Bobby

[Zuts]

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

[Bobbyoutback]

Paul ' just my opinion as he gets it right , look at his past videos .

Maybe you have become a fan ?

Regards
Bobby .

[Zuts]

Is that humor or just plain old trolling?

[Bobbyoutback]

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/there-are-no-coincidences-reset-is-on-its-way-bill-holter-video/

Keep Safe
Bobby .

[xelasnave]

I don't think folk like the guy in the video is helpful at all.

Folk need to settle down and stop being fearful.
The virus is a bad thing but the death rate is perhaps being talked up by folk seeking to profit from the disruption.

Moreover now is the time for team effort rather than thinking merely about oneself.

Further, just to help you, examine the gold price movement after the 2008 thing ..it will go up but drop ...the continued rise after recovery was just part of the general inflation of all asserts.. I think the smart folk will sell take their profit and gold will just be another asset like shares or real estate...don't be greedy and remember you dont go broke taking a profit.

In any event please stop worrying folk.
It is not the end of the world irrespective of how bad things get.
I on a daily basis ring everyone I know trying to settle their fears..imagine if that sort of action became the thing instead of this doom and gloom.
Try it.
Alex

[Bobbyoutback]

Alex , I have found you a good human , thanks for your opinion .

Huge cash plashes will result in inflation , we will see that result in the near future .

Gold will be the only anchor excepted world wide .
Silver also .

Your wealth held in Fiat is so vulnerable , try to swap it for real money if you can .

Cheers & Beers
Bobby

[Zuts]

I thought this was an astronomy site. So now it's OK for members to give unsolicited financial advice in a crisis like this. I don't understand, why hasn't this thread been locked.

It's illegal to give financial advice unless you are a qualified financial adviser, the govt changed the rules this year and now require anyone giving financial advice to have the relevant qualifications.

If someone wants to give private advice, no problems, but this is a public forum.

I saw a post on facebook where it said that if you gargle with salt and vinegar you will kill the coronavirus. People may take this advice and think if they do that they are cured and don't have to worry about self-isolation. This sort of advice and Bobbyoutbacks advice re gold purchases in my view are equally dangerous.