Gold price all times high GBP and climbing

DannyGold

westernpromise wrote: »

So you could instead buy dollars, get the same gain versus sterling, but also get an income from them.

Trump wants to devalue the dollar

It’s a race to debase

All currencies are heading down, gold and silver are the winners

Green_Bear

edgex wrote: »

You can't live in them though.
A property you own, you can live in it.
(even if you've got a mortgage, if there was a massively major financial crash, they would not be a priority to be dealt with)




How can you realise it's cash value outside of the system though?
If all banks are shut, then all other financial services are shut. How can you extract the cash value of your gold?





:rotfl:

How do you pay for the gold? Who are you buying it via? Where is it being held?
If the gov want to know who is buying gold, they can very easily find out.

Yes, you can live in your own house. But that's not an investment. You cannot live in an investment property occupied by tenants. Those tenants will probably stop paying rent in any widespread disruption event.

I would expect some trading activity to continue outside the banking system. I'm sure farmers and car mechanics etc would start accepting gold or silver soon enough.

Green_Bear

Mistermeaner wrote: »

I guess if the zombie apocalypse does happen and world order calls apart those that survive will be exactly the kind of folk who would pointlessly trade food for worthless gold

They'll last a few weeks more than the rest of us

Until they realise the best investment was in fact guns .... Lead might be a better buy

That's fine if you want to risk a long prison term.

Green_Bear

triathlon wrote: »

Who in the real world owns little lumps of gold?, what world are you people living in.

People have been saving gold for thousands of years.
It's never gone to zero in all of recorded history.

Green_Bear

Dippypud wrote: »

Silver is not as desirable as it used to be ...

It was used in traditional film, silver nitrate, this is where there is no longer such a strong market... remember a thing is only worth what someone will pay for it and silver has had it's day ...

Unless you can foresee a market for it ...

The Chinese lost out a few hundred years ago, when they had a silver currency at a ratio of 2:1 to gold.
Obviously such a ratio was not sustained - plus the British turned up and filled their country with heroin.

Since then they've preferred gold.

Malthusian

Green_Bear wrote: »

Yes, you can live in your own house. But that's not an investment.

Yes it is. If you own it and it pays an income (money saved on rent) it's an investment. When you live in your own house you're the tenant.

You cannot live in an investment property occupied by tenants. Those tenants will probably stop paying rent in any widespread disruption event.

No they won't. People will stop paying absolutely everything before they stop paying rent. Luxuries can be done without. Lenders can be negotiated with and in the last resort defaulted on with bankruptcy protection. Electricity can be substituted for with blankets and warm clothes. Food can be obtained for free from food banks and if they've all closed it's much easier to steal or scavenge food than shelter. Rent is the last thing to default on when you are skint.

If people have stopped paying rent en masse then society has completely broken down and no assets have any value. Not property, not securities, not shiny metal, nothing.

I would expect some trading activity to continue outside the banking system. I'm sure farmers and car mechanics etc would start accepting gold or silver soon enough.

In an apocalypse scenario no farmer is going to hand over food for shiny metal. Farmers would be keeping their food for themselves unless you have some farm machinery or guns to sell them or are willing to do some work in the fields.

phillw

Peter_Williams wrote: »

Solar panels.

Short term.

https://www.pv-magazine.com/2018/07/06/amount-of-silver-needed-in-solar-cells-to-be-more-than-halved-by-2028-silver-institute-says/

Malthusian wrote: »

Rent is the last thing to default on when you are skint.

I thought that was Council tax, with rent second to last.

Green_Bear

Malthusian wrote: »

Yes it is. If you own it and it pays an income (money saved on rent) it's an investment. When you live in your own house you're the tenant.

No they won't. People will stop paying absolutely everything before they stop paying rent. Luxuries can be done without. Lenders can be negotiated with and in the last resort defaulted on with bankruptcy protection. Electricity can be substituted for with blankets and warm clothes. Food can be obtained for free from food banks and if they've all closed it's much easier to steal or scavenge food than shelter. Rent is the last thing to default on when you are skint.

If people have stopped paying rent en masse then society has completely broken down and no assets have any value. Not property, not securities, not shiny metal, nothing.

In an apocalypse scenario no farmer is going to hand over food for shiny metal. Farmers would be keeping their food for themselves unless you have some farm machinery or guns to sell them or are willing to do some work in the fields.

Well maybe.
But this is all hypothetical, because each crisis is slightly different.
Rent collection will depend on a functioning court system and bailiffs available to evict. Also the attitude of the govt at the time. A Syriza type govt could just stop all evictions at the stroke of a pen.

A national crisis could be anything from the Greek / Cypriot banking problems, to a Yugoslavia type conflict. Or a Zimbabwe style hyperinflation.
My main concern would be a large scale cyber disruption, because that is what I see as the major potential point of failure in our current location and time.
I don't foresee any kind of invasion of the UK. But if I was living in Eastern Ukraine or Northern Iraq, I'd probably have a different opinion on risk.

Regarding physical gold barter, the main problem living in the UK, is that leaving this island would be much, much harder than driving from Poland into Germany etc.

Green_Bear

phillw wrote: »

Short term.

I thought that was Council tax, with rent second to last.

If you're poor under the current system, you could ask for Council Tax benefit.
But a lot of people lost the homes they owned outright (mortgage free) during the Great Depression - because they couldn't afford the property taxes.

phillw

Green_Bear wrote: »

A national crisis could be anything from the Greek / Cypriot banking problems, to a Yugoslavia type conflict. Or a Zimbabwe style hyperinflation.

I don't think the majority of people here have the resources to be able to plan for that kind of crisis. Certainly putting your money into previous metals adds as many problems as it solves.

Good luck keeping hold of it without a functioning court system. Or during a hollywood style cyber attack.