fed taper in december, page-57

Hi Einstein and all,

“In cash converters this morning , wanted 1150$ for 9ct. necklace, worth about 150$ stupid people here ripped off every day .”


At last we agree on something I also feel we are seeing more stupid people about these days. Apparently you can do a degree in the subject.

http://www.youtube.com/watch?v=jF-CkMpQtlY

9ct Gold is made up of around one third of the weight of real Gold, it would follow that one ounce of 9ct Gold would be worth 1/3 the price of Gold or even less. Those gold buying places springing up everywhere will try and buy scrap and old jewellery at the lowest price possible, everyone wants to make a profit!

I have a Gold watch chain I paid six hundred pounds for (Victorian) there is a similar one on E-Bay offered at 2,000.00. When manufactured it probably cost about the same as a decent gentleman’s suit! Value can be a personal matter.

Currently the UK minted gold coins (2013) are pure Gold this makes them virtually useless for circulation. Previous Britannia gold coins contained other metals to make them harder and somewhat more durable.

The decision to use pure Gold in these coins means they store wealth accurately and if need be can be quickly and relatively cheaply converted back to bullion without the need and added cost of refining. The current powers that be are far from stupid and they make sure that they leave a few loop holes for themselves. The trick for people such as me is to spot such a loop hole and exploit it if possible.

Because Gold Britannia’s with a hundred pound face value are technically currency UK citizens can buy them for a small premium over the Gold price, they are also totally CGT free! No tax to pay on any profits to one of the worst cash strapped governments in Europe is not in my opinion a loop hole left open for the average working man!

This move also ensures the Gold remains in the UK without the need of a Swiss bank account etc. Like I said these guys are not stupid.

By the way Jack if you are around currently enjoying a break down on the Isle of Wight bit of military history around if you’re interested. 40 Royal Marine Commando trained on the Isle of Wight in preparation for the Dieppe raid in 1942.

http://www.shanklinchine.co.uk/index.php/commando

A few ales last night down at the Spyglass (Ventnor) with a few German chaps celebrating their election results, it struck me that, but for the actions of the guys that sat in that same pub back in 1939-40 I may not have my current freedom of choice!

Cheers and very best regards: Andy