TESCO Buying Gold! omg they are tin foil hatters too!

amcluesent

>Tesco want to have a bullion position and are choosing to get there by buying earrings.<

Every little helps! :rotfl:

Graham_Devon

Cleaver wrote: »

That sounds awful-tastic. Hopefully they will also provide me with Tesco headphones that play Tesco-pop so that I don't have to make any contact with any human at any point of the whole experience. And if anyone tries to speak to me I'll just dribble at them.

Just a question....do you ever use supermarkets? Or do you really buy everything from smaller shops?

Cleaver

Graham_Devon wrote: »

Just a question....do you ever use supermarkets? Or do you really buy everything from smaller shops?

The 'bigness' of Tesco is not my issue with them to be honest, it's more their morals and their business ethics. But I've talked about all that before and won't bore you with it.

I use the Coop quite a bit and sometimes Morrisons. The Mrs and I both work in the city centre though, so it's normally fairly easy to use the veggie, fish and meat markets that are close to work. Working in the centre means we get a bite to eat for dinner out a lot more often that we probably should too.

Although I don't use Tesco (or ASDA for that matter) I'm half joking when I talk about them on here, which I know you know. It's just a personal choice not to use them and I'm not bothered that other people do. It's a bit of a thing of mine that our high streets all seem to be either dying or becoming clones of each other. Don't get me wrong, there's a fantastic place for internet shopping and shopping centres and they are both great in their way, but I think a good, local presence that celebrates a bit of variety and individuality is good for the soul and my personal opinion is that we're losing this in many places, which is a shame.

ViolaLass

Puddleglum wrote: »

I agree that you can not take it with you but if you do not really need it now then your children or their children may really need the value of it in the future. Therefore it is not yours to sell you are looking after it for those who may depend on it later. She says, thinking about a truely hideous cheese dish safely hidden from view.

It's this kind of nonsense that's seen me inherit hideous things over the years. If you're only keeping it because your children might see the value of it in time, why not sell it and give them the money? And are you keeping everything you own for those who come later? Or just the things you don't like? Where does it end?

While we're at it, what are tin foil hatters? And fiat paper?

Cleaver

ViolaLass wrote: »

While we're at it, what are tin foil hatters? And fiat paper?

Tin Foil Hatters tend to be people who are a bit mad and think the world is ending on a regular basis. Their beliefs may or may not include the new world order, lizards ruling the planet, that 'the man' controls the world, that 'a group' of shady people controls everything you do, an obsession with gold and silver (they seem to have a view that these things will be handy when the world ends), that currencies are all fake, that governments don't actually govern countries as there's a shady force above them etc. etc. Basically, any type of conspiracy theory floats their boat, especially if it involves the public being controlled or something to do with the world or civilisation ending. Remember people that went around with sandwich boards in the 1920s with "the end is nigh" written on them? They are the modern version of them. If you tell you they are wrong they will tell you that you don't understand the bigger picture and are naive as to what's going on around you.

Generali will have to deal with the fiat money thing, but I think it's just a term for paper currencies. Tin foil hatters don't like it as it's a) not gold or silver, b) is controlled by governments (who are evil, see above).

Hope this helps.

http://en.wikipedia.org/wiki/Tin_foil_hat

ViolaLass

Thank you Cleaver, that makes a lot more sense now.

Cleaver

ViolaLass wrote: »

Thank you Cleaver, that makes a lot more sense now.

No probs. If you want some real life examples have a look at Asheron's posting history, you don't get a more text-book example than that.

halight

amcluesent wrote: »

Tesco corporate treasury likely sees the Euro going phut, £ unsteady and $ collapsing and wants to have a bullion position. Don't forget TEsco want to go large in China, so maybe they think a gold war chest will last better than fiat paper?

If tesco wont a bullion position then they have enough cash to buy on the open market. I would say that they allready do own Gold bullion.

They are buying now off the public because tescos are everywere And people are lazy they will drop there gold off while doing the shopping. The money that they get will 9 times out of ten end back in there tills. (i think)
Theyare only doing this as they can see a profit for themselfs.

vivatifosi

A._Badger wrote: »

I was browsing around an antique shop recently and overheard the proprietor discussing his stock of jewelery with someone I'd assumed was a customer, but may have been a friend or, even a competitor.

The converstain ran something like:

"How long are you hanging on to pieces like this necklace, these days?"

"Oh, not much more than three or four weeks. If they don't sell by then they go for scrap."

It occurred to me that at this rate, quite a lot of history is going to wind-up as the plating on HDMI plugs.

Of all the posts on this thread, this is one of the most telling. If scrap gold is worth more or less the same as that which has been turned skillfully into artefacts, what does that tell you about the state of the market? If the market has reached a point at which people are no longer willing to pay a premium for items produced from gold, rather than for holding gold, then why hold gold? If this viewpoint is replicated, it suggests to me that gold may be close to its ceiling.

WhiteHorse

Could it be that Tesco is a little short of cash? That it's not quite the profitable enterprise that it would have the stockmarket believe?