Cambon Posted November 15, 2011 Share Posted November 15, 2011 . Other than desirability, gold has few uses. It is effectively worthless. Here we go again. Cambon stating something as fact which is basically bollocks. Gold has many uses in industry. I gave up discussing with Cambon when he insisted that Jersey Sales Tax could be easily grossed up to estimate what the IoM might receive in VAT and chose to ignore the relevent differences in GDP, and the fact that Jersey Charge Sales Tax on many items that elsewhere are zero rated. NO! You chose to ignore the relative similarities. Twat! Link to comment Share on other sites More sharing options...
Cambon Posted November 15, 2011 Share Posted November 15, 2011 Why do you think we have had, and still have, 'Cash For Gold & Silver' shops springing up everywhere? The people behind these understand how it works, but your average joe who walks in and pawns in his gold chain for a few hundred quid thinks he's getting a great deal, in reality he's being fleeced out of the one thing in his possession which is actually of 'value'. And that is the point. Shops like that are buying gold cheap and selling it on at a huge mark up. They are not hanging onto it because it is too risky. The price of gold nearly collapsed a few weeks ago when they thought Greece was ok. It was not and the price of gold has slowly gone back up. When it goes, it will plummet. That is why it is a risky investment. Link to comment Share on other sites More sharing options...
Lxxx Posted November 15, 2011 Share Posted November 15, 2011 Why do you think we have had, and still have, 'Cash For Gold & Silver' shops springing up everywhere? The people behind these understand how it works, but your average joe who walks in and pawns in his gold chain for a few hundred quid thinks he's getting a great deal, in reality he's being fleeced out of the one thing in his possession which is actually of 'value'. And that is the point. Shops like that are buying gold cheap and selling it on at a huge mark up. They are not hanging onto it because it is too risky. The price of gold nearly collapsed a few weeks ago when they thought Greece was ok. It was not and the price of gold has slowly gone back up. When it goes, it will plummet. That is why it is a risky investment. You tell yourself that sunshine. You really think these shops are buying it cheap and selling it on for a quick buck, knowing full well there's only one place gold is going over the next few years, and that's northwards. They're hanging onto it, same as everyone else else who understands what's in store. Gold didn't nearly collapse at all a few weeks ago. The stock markets bombed, causing large hedge funds, pensions funds and other institutional investors to liquidate their most liquid assets for cash as a priority i.e. gold, that's why the price went down, as well as hiking up the margins in the futures markets for gold, thereby putting off investors at a time when they really don't want people swapping their fiat to buy physical gold. It was market manipulation. Central banks are massive net buyers in gold at the moment, why do you think that is? The fundamentals of gold haven't changed, treat every pullback in 'price' as a massive buying opportunity. Link to comment Share on other sites More sharing options...
Cambon Posted November 15, 2011 Share Posted November 15, 2011 No thanks. I will stick to my strategy. Good luck. Link to comment Share on other sites More sharing options...
Lxxx Posted November 15, 2011 Share Posted November 15, 2011 No thanks. I will stick to my strategy. Good luck. Ooh do tell oh wise one. What strategy should we be following? Link to comment Share on other sites More sharing options...
manshimajin Posted November 15, 2011 Share Posted November 15, 2011 No thanks. I will stick to my strategy. Good luck. Ooh do tell oh wise one. What strategy should we be following? Not having all your eggs in one basket would be my advice - and someone got the Nobel Prize for Economics for working that one out. Link to comment Share on other sites More sharing options...
Freya Q Posted November 15, 2011 Share Posted November 15, 2011 Gold didn't nearly collapse at all a few weeks ago. Agreed http://www.24hgold.c...x?money=GBPound This is a super little interactive chart to play with. Spectacular growth. http://www.24hgold.com/english/interactive_chart.aspx?codecom=GOLD&chgecom=ChgeLivre&valecom=valelivre Link to comment Share on other sites More sharing options...
Recommended Posts
Archived
This topic is now archived and is closed to further replies.