Gold Prices Rally on Safe Haven Buying. gold hit a new record of £767

RDB

007JUNKY wrote: »

are you aware a 1kilo of gold is worth around £27-£28k, thats says it all really

Yes it says gold is much much more expensive than silver compared to its long term ratio throughout the last 6000 years.

There has always been about 10-15 times the amount of silver in the Earths crust than gold. Hence silver has been about 10 - 15 times cheaper than the price of gold.

Now its 65 times cheaper but on its way back to its long term ratio.

The reason silver is so cheap compared with gold is because they have suppressed the price to keep people from buying it and keep faith in fiat currencies a bit longer. So that they can keep on expanding the currency supply.

The way they suppress the silver price is by selling paper promises to deliver real silver in the future. They can sell more paper promises than the amount of silver left on Earth. Of course this brings the price down.

In 2008 silver was over $20 oz and they made up lots of paper promises and sold them all very quickly, this brought the price down to bellow $9.

The most amazing thing was Andrew Maguire blew the whistle on what they were going to do before they did it. You can see his emails to the regulators before they brought the price down. Then what he said they would do happened. Even though there were shortages of real silver, the world was awash with paper promises to deliver silver, and this brought the price down to bellow $9. Just like the whistleblower warned the regulators would happen.

You can google it, its amazing.

Also this is an interview with the whistleblower

http://www.kingworldnews.com/kingworldnews/Broadcast/Entries/2010/3/30_Andrew_Maguire_&_Adrian_Douglass.html

007JUNKY

Point taken , im not disagreeing at all, thank you for the information you are obviously well versed in silver

crazygaijin

Just listened to the Mguire interview, very interesting stuff.

http://www.kingworldnews.com/kingwor..._Douglass.html

Its amazing the interviewer said now you have blown the whistle you have put a big target on your back.

Then while he was out with his wife, a black 4x4 with blacked out windows crashed into him. There were lots of witnesses who tried to prevent the hit and run car from getting away. There was a police chase invovling helicopters and everything.

http://spktruth2power.wordpress.com/...-and-jpmorgan/

"Andrew Maguire exposes the largest financial fraud in human history and is almost killed in car crash shortly thereafter. JP Morgan is manipulating the market, and for every 100 ounces of silver and gold held in paper or electronically, there is only 1 ounce in the vault."

http://www.sott.net/articles/show/20...d-run-accident


On March 25th at the CFTC Public Hearing on Precious Metals GATA made a dramatic revelation of a whistleblower source, Andrew Maguire, who has first hand evidence of gold and silver market manipulation by JPMorganChase and who has even tipped off the CFTC in advance of manipulative attacks on gold and silver. Just as in the Madoff case the regulator has done nothing to stop such manipulation.

On March 26th while out shopping with his wife, Mr. Maguire's car was hit by a car careening out of a side road. The driver of the vehicle then tried to escape. When a pedestrian eye-witness attempted to block the driver's escape he accelerated at him and would have hit him had the pedestrian not jumped out of the way. The car then hit two other cars in escaping. The driver was apprehended by the police after police helicopters were called in and following a high speed chase.

sabretoothtigger

In 2008 silver was over $20 oz and they made up lots of paper promises and sold them all very quickly, this brought the price down to bellow $9.

I remember other events in 2008 better.
Silver might follow gold eventually but I expect it to adjust downwards at some point as its related to industrial demand and growth expectations .
Its done really well so far but it should be more volatile then this I think


http://img594.imageshack.us/img594/3792/slv.png

However, I saw a piece on Sky News this morning regarding gold. Surely a contrarian indicator, if there ever was?

Depends what you weigh it against. If we are talking currency then its not contrarian till the majority are walking round with silver bars in their pocket.

Germany has gold vending machines and yet the price has gone up since that story. Ditto for apple and ipods Has to be measured against actual use and the failings of plain ordinary cash I guess and in that regard its likely underrated still I think

007JUNKY

Seems the gold price is heading down agai today, not sure why but seems all the currencies are heading that way as well, BOE doing their usual trick of causing havoc lol

007JUNKY

MrEnglish wrote: »

The thing is with silver, they are doing everything they can to stop people buying it.

17.5% VAT on silver but not gold. Soon it could go up to 20%, that will mean all my silver will go up 2.5%;)

thats always been the little trick with silver hasn t it:eek: you think your getting a great deal and then they wack the VAT on. as you say the VAT may soon be 20%:eek: stick to gold i say :cool:

RDB

007JUNKY wrote: »

thats always been the little trick with silver hasn t it:eek: you think your getting a great deal and then they wack the VAT on. as you say the VAT may soon be 20%:eek: stick to gold i say :cool:

Actually the VAT on silver is an advantage to us UK silver investors.

It means we can sell our silver for a higher price and higher profit than those countries that dont put VAT on silver.

As has been pointed out many times, on here. When you buy new silver with VAT the total price you pay is then what its worth on the open market.
You can sell it for that or more as the price goes up and dont have to have anything to do with VAT.


So buy as much as possible bofore the VAT goes up to 20%. You can make another 2.5% on top

Harry_Powell

RDB wrote: »

Actually the VAT on silver is an advantage to us UK silver investors.

It means we can sell our silver for a higher price and higher profit than those countries that dont put VAT on silver.

As has been pointed out many times, on here. When you buy new silver with VAT the total price you pay is then what its worth on the open market.
You can sell it for that or more as the price goes up and dont have to have anything to do with VAT.


So buy as much as possible bofore the VAT goes up to 20%. You can make another 2.5% on top

Can you please provide a link to bullion dealers who buy this second hand silver and yet still add in the 17.5% VAT to their purchase price, even though they don't have to?

heffsta

RDB wrote: »

Actually the VAT on silver is an advantage to us UK silver investors.

It means we can sell our silver for a higher price and higher profit than those countries that dont put VAT on silver.

As has been pointed out many times, on here. When you buy new silver with VAT the total price you pay is then what its worth on the open market.
You can sell it for that or more as the price goes up and dont have to have anything to do with VAT.


So buy as much as possible bofore the VAT goes up to 20%. You can make another 2.5% on top

Whats happening with the silver price today? more manipulation?

Harry_Powell

This from an ardent investor in metals:

"Alas for the rest of us surfs in the UK we have to cough up 17.5% extra on our investment as a thank you to the Nice Government Men for being, well Nice Government Men.
So if you buy an ounce of physical silver today at £11.42 in the form of one of our Silver Roses + our mark up + manufacture + government mark up, means your ounce will cost £16.52 – 44.66% over metal price. (Though buying larger amounts will reduce the mark up and bars are cheaper)
So silver is definitely a longer term investment"

As silver prices are quoted exclusive of VAT, you have to wait for the silver to increase over and above the full price you paid for it, including VAT and broker costs before you make any profit when you sell it.

Except when you sell to idiots on internet forums who fall for the ramping advice of dubious characters who use multiple usernames to push people into buying their second hand silver at new silver prices.

A sucker born every minute hey RDB, aka Mr.English, aka a few other silver bugs on here. Good luck with your ramping and PM sales, though I think it's amazing that Martin Lewis and his mods let you get away with this sort of thing on their website.