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Skol

33,730 Posts.

1409

23/03/25

14:50

Post #: 78379076
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Originally posted by Bell1969: ↑

HiSkol,

Anyonecancherrypickdatesletmeexplaintherelevance tome.

“Gold protecting future purchasingpowerdidn't work f or stackersbetween 1934 and1971, and between1980 and 2001.”

1934NotBorn.

1971Busyservingapprenticeship(Fitter&Turner)lowwagesonlypossiblewiththesupportofmy parents.

1980WorkingundergroundUKandinDubaimakinggoodmoneyandpayingoffthemortgageonmyfisthome. Doubledigitmortgageratesandinflationleftlittlemoneyforanyotherinvestments.

UKmortgage rates in 1980 - Google Search
1981LefttheUKasa refugeefromMargaretThatcher,emigratedtoQueenslandAustralia.
1989Startedbusiness inBrisbanehardworkbuildingupfromscratch.Thebusiness wasconnectedatthehiptomining,sothefirstfewyearsweredifficult.
Seethecoalpricegraphbelow.
Globalprice of Coal, Australia (PCOALAUUSDM) | FRED | St. Louis Fed
However,businesspickedupalittleandIboughtmyfirstfewouncesofGoldin1998.
2002Thecoalpricewasaround $25.00permetricTonne.
2004Thecoalpricemovedupto$65.00permetricTonne.
2002ImademyfirstseriouspurchaseofphysicalGoldandSilverandhavebeenaddingsince.
Whether itwasdumbluckonmypartorgreatplanningisamootpointbutatthistimethedemandfromChinaforresources wasgoingthroughtheroof.
I wouldhavelovedtheopportunity tobuyphysicalGoldin1934,1971,1980and2001butsadlyforthe reasonsabovethiswasnotpossible.
Iamequallysurethatifyouhadcommencedyourrealestate portfolio around1934youwouldowna greatdealmoreproperty.
However,asthatwasnotpossible,I cannotseetherelevance.
“The NZ governmentalong with mostothers, doesn'townoneounce.”
newzealand sells its gold when - Google Search
To summarize both of those. Australia sold most of their reserves in 1997. The Reserve Bank of New Zealand sold every last ounce of Its gold in 1991.

WithrespectIwouldsuggestthatthesalesofnationalGoldholdingfromtheUK(Brown’sBottom)Canada,AustraliaandNewZealandwillgodownintheannalsofhistory.

Justmyhumbleopinionbutbackin1991,1997and1999to2002withtheGoldpriceatUSA $400.00 per ounceI wouldsaythe comediansinchargeintheUKCanada,Australia,andNewZealandbackthenallhaveeggontheirfaces.

AndwiththepriceofeggsthesedaysthatisnotagoodlookIMHO!

GoldPrice History - Historical Gold Charts and Prices
So, myoldfriendpleasecherrypickall you wantbutyoucannotchangefacts.Again,justmyopinionbutsellingGoldfor$400.00in1991to2002wasnotagreatmove.
WiththeGoldpricecurrentlysittingat$3,023.00perouncethatisanincrease inpricebyafactor of7.5.IamnotsurehowthatstandsagainstrealestateinNZ,butIammorethanhappytohangontomyphysicalGoldalittlelonger.
BythewayDentieIsawyoupostsonyourhousepurchaseandthedelayedsettlementastheGoldpricerose.Well done.
Cheers.

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Why any country would need a 'stack', is quite beyond me. America's got a huge one, but it becomes less relevant every year that passes.
People go to New York to see some of it, it's an interesting historic relic, that's it.

My last house I sold for just under $2m more than I paid for it.

And that, dear reader, is why I've owned lots of properties, and not gold bars.
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