Thread: Buying Gold with my Thai savings?

Yeah CEO's hold a lot of shares usually because they have awarded themselves large positions via option/bonuses/incentive schemes at below Market value.

Property always goes up huh? Interesting. Try explaining that to homeowners in Tokyo or Detroit.

Originally Posted by waradmiral

Originally Posted by socal

Originally Posted by waradmiral

Originally Posted by socal

Originally Posted by beazalbob69

It is useless the same as buying a nice restored shelby mustang and putting it in storage, never driving it, and also never selling it for some outrageous price is useless. Except as I said before as a hobby just because you already have money.

As for the recipients of my assets on my death, I am sure they will be very happy that I amassed a fortune during my lifetime and never spent or sold any of it for things that could bring me pleasure. I am positive they will not have that problem.

super rich people already have everything they want. They own a pro sports team or 2 as a hobby. But what do they do with what is left over ? Buy gold. Can't you see the utility gold has to the super rich ?

They buy gold for show not to make money. Super rich people make money from businesses with cashflow.

You really don't know anything.

So you think super rich people recycle ALL of their cashflow into more cashflow generators ? Just so they have more tax problems and headaches on a compounded basis ?

You really are clueless. How many rich people have you met? I've worked with a number of CEOS and they hold substantial assets in shares. Shares are highly tax effective because of franked dividends. They also acquire substantial propery holdings as property LT is always a good investment which can also be tax effective with negative gearing.



You're a idiot.

Cars have maintenance costs? Wow! Any more revelations you have there lurking undiscovered?

Originally Posted by waradmiral

Originally Posted by beazalbob69

Originally Posted by draco888

Just because you die without having sold it how does this mean it is useless? Is the cash in your bank also count as being useless because you have not spent it? Is the aim to spend your last baht on the day you die? Will the recipients of your assets on your death view the gold as useless?

It is useless the same as buying a nice restored shelby mustang and putting it in storage, never driving it, and also never selling it for some outrageous price is useless. Except as I said before as a hobby just because you already have money.

As for the recipients of my assets on my death, I am sure they will be very happy that I amassed a fortune during my lifetime and never spent or sold any of it for things that could bring me pleasure. I am positive they will not have that problem.

People who buy vintage cars usually drive them and get a lot of pleasure out of owning them. They do have maintenance costs though.

Originally Posted by waradmiral

You are a goose.

Originally Posted by waradmiral

You really are clueless.

Originally Posted by waradmiral

You're a idiot.

oh dear

We are possibly watching the crash in COMEX/LBMA gold like I predicted a couple years ago on page 15 of this thread.

07-01-2011, 10:18 AM #370 (permalink) socal
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Just a note on the price of gold going forward.

The paper derivative COMEX/LBMA price of gold can crash if/when the longs realize that they cannot get physical delivery.

To make a long story short, the LBMA price of gold can crash to zero but that is not the real price of gold crashing to zero, its only the price of a defaulted futures contract going to zero. If/when an event like this happens, the only gold price available after the week or 2 that it takes for the dust to settle, will be the central bank physical only gold market headed by the Bank for International Settlements. (this market already exists) This transition will be a rough one and good luck trying to find any physical gold as the LBMA defaults and the posted price of gold is $100 an oz. If there was any, the LBMA would not have defaulted. Its only the entities that have physical now that win because after the reset, physical gold will be way out of reach for regular people. The price could go anywhere from 5 to 50,000 an oz the weeks following the LBMA default.

Here's a comment from one of the guys at fofoa today.

The large institutional stop-loss orders are on auto-pilot, whether they were triggered by commercial naked shorts or not, but keep in mind, there's a dichotomy here.

It is CONfidence in the FUTURE price of PAPER GOLD that is collapsing. What players in that game equate physical metal with that paper is now irrelevant, as it is the confidence in the futures market that is collapsing.

Because of systemic interdependence, we could have a related derivatives failure of epic proportions if the trend continues (I say related because the current gold market is the epic derivatives market that Freegold hinges upon).

When COMEX defaults thous who deal in derivatives (paper gold) will be paid in derivatives (currencies, i.e. "paper gold").

But with the massive positions of the bullion banks in FRAs (interest rate derivatives) a bond market collapse or an interest rate derivative collapse could be interconnected to the current gold market collapse.

Socal is trying to back pedal now. Keeps getting it WRONG, keeps making excuses.

Originally Posted by draco888

Yeah CEO's hold a lot of shares usually because they have awarded themselves large positions via option/bonuses/incentive schemes at below Market value.

Property always goes up huh? Interesting. Try explaining that to homeowners in Tokyo or Detroit.

Originally Posted by waradmiral

Originally Posted by socal

Originally Posted by waradmiral

Originally Posted by socal

super rich people already have everything they want. They own a pro sports team or 2 as a hobby. But what do they do with what is left over ? Buy gold. Can't you see the utility gold has to the super rich ?

They buy gold for show not to make money. Super rich people make money from businesses with cashflow.

You really don't know anything.

So you think super rich people recycle ALL of their cashflow into more cashflow generators ? Just so they have more tax problems and headaches on a compounded basis ?

You really are clueless. How many rich people have you met? I've worked with a number of CEOS and they hold substantial assets in shares. Shares are highly tax effective because of franked dividends. They also acquire substantial propery holdings as property LT is always a good investment which can also be tax effective with negative gearing.



You're a idiot.

Propery goes up and down but provides a yield unlike gold which provides no income.

Fairly basic stuff which you muppets fail to understand.

^ property provides a yield! Yet more revelations from the maestro! Cars have maintenance costs and property provides a yield. Must write that down!

Originally Posted by draco888

^ property provides a yield! Yet more revelations from the maestro! Cars have maintenance costs and property provides a yield. Must write that down!

Oh dear I've upset him. The idiot can't be bothered looking at a LT chart but it's apparently my fault he's wrong.

Originally Posted by Thormaturge

Originally Posted by waradmiral

Property goes up and down but provides a yield unlike gold which provides no income.

Fairly basic stuff which you muppets fail to understand.

"yields" can be negative, especially during times of high interest, or fallow periods (where there is no tenant).

This is what makes property a bigger gamble than gold since interest rates cannot go down any further and thus the next movement in property prices is expected to be downward....at which point there will be an obscene scramble to reduce prices in order to be the first one to sell. At least while gold is depreciating you aren't having to dig into your other income in order to maintain it.

True and negative yields are tax effective.

But gold has no yield ever and has had 2 strong bull markets in 100 YEARS.

Yet you muppets can't see HOW STUPID it is to buy gold after a 10-12 year bull market

It only takes common sense and a few mins looking at a LT chart to see gold was a sell.

Originally Posted by socal

Originally Posted by PaulBunyon

Thanks for the link. I checked and there's a wiki page with the am info...

Gold reserve - Wikipedia, the free encyclopedia

So that means the US has the most Gold in reserve and the most gold backing its currency too, right?



On Wiki they also broke holdings worldwide down like this...

Holding Percentage
Jewelry 52%
Central banks 18%
Investment (bars, coins) 16%
Industrial 12%
Unaccounted 2%


As the poor have better lives they do buy more gold jewelry. The people in places like China and India are sure to buy more if their buying power increases. There's a lot of support there for this metal.

No, the Euro zone has more gold. The US does not have any gold backing the dollar. The only thing backing the dollar is treasury debt.

I have been buying the dips in bullion and mining stocks for a while now.

Support for any currency comes from confidence in the overall economy. In order for a currency to be strong an economy has to grow and to grow an economy you need strong businesses. Strong businesses make large profits, pay dividends and most large businesses are listed on stock markets and will exhibit strong gains during good economic conditions.

You seem to think hiding money away is gold is the only way to go when the last 100 years of history shows 2 big bull markets and decades of underperformance.

You have been wrong all year and still can't admit you're wrong about gold.

Now you are claiming the price falls are paper gold. Well then, go sell your gold and sell what price you get. Moron.

Originally Posted by waradmiral

Socal is trying to back pedal now. Keeps getting it WRONG, keeps making excuses.

I said this would happen 2 years ago. So I'm right on track. Look at the dates I posted that on you moron

Originally Posted by waradmiral

Originally Posted by draco888

^ property provides a yield! Yet more revelations from the maestro! Cars have maintenance costs and property provides a yield. Must write that down!

Oh dear I've upset him. The idiot can't be bothered looking at a LT chart but it's apparently my fault he's wrong.

I said this would happen . So that makes me right, not wrong. You havnt the slightest clue what is going on and what will happen in the coming months.

Originally Posted by waradmiral

Originally Posted by Thormaturge

Originally Posted by waradmiral

Property goes up and down but provides a yield unlike gold which provides no income.

Fairly basic stuff which you muppets fail to understand.

"yields" can be negative, especially during times of high interest, or fallow periods (where there is no tenant).

This is what makes property a bigger gamble than gold since interest rates cannot go down any further and thus the next movement in property prices is expected to be downward....at which point there will be an obscene scramble to reduce prices in order to be the first one to sell. At least while gold is depreciating you aren't having to dig into your other income in order to maintain it.

True and negative yields are tax effective.

But gold has no yield ever and has had 2 strong bull markets in 100 YEARS.

Yet you muppets can't see HOW STUPID it is to buy gold after a 10-12 year bull market

It only takes common sense and a few mins looking at a LT chart to see gold was a sell.

how come you will never answer this question ...

What about the 33 year US bond bull market that your stocks and real estate live and die on ?

When the 33 year bull market in bonds ends, all assets get crushed and gold will out perform everything like it has for the last 12 years. You have been wrong for 12 years despite interest rates falling for 33 years.

Originally Posted by waradmiral

True and negative yields are tax effective.

Well insofar as losing money on any business venture is "tax effective"

True tax efficiency is the result of using borrowed money to buy property so as to reduce the taxable profit whilst leaving your cash somewhere else that provides a tax free return. This can reduce overall taxes without reducing net income.

Simply losing money just for the tax relief is blindingly stupid.

If someone told me I could get a £ 4,000 tax credit by losing £ 10,000 I'd offer them a £ 5,000 refund if they gave me £ 10,000, and wait for the reaction.

It seems my teeth are worth less this morning.

Originally Posted by Thormaturge

It seems my teeth are worth less this morning.

Are your teeth composed of COMEX derivative contracts ? Or gold ?

^
The physical stuff.

Seems there is less chance I will die in my sleep now.

The rapidity of gold's drop is impressive, concerning, and disorderly. We have seen two other such instances of disorderly 'hurried' selling in the last five years. In July 2008, gold quickly dropped 21% - seemingly pre-empting the Lehman debacle and the collapse of the western banking system. In September 2011, gold fell 20% in a short period - as Europe's risks exploded and stocks slumped prompting a globally co-ordinated central bank intervention the likes of which we have not seen before. Given the almost-record-breaking drop in gold in the last few days, we wonder what is coming?

The impression I have had with gold this year, and I stated this about six weeks ago on TD somewhere, is that a large holder, whether it be a country, a bank or major investor, was involved in an orderly sale. Someone seemed to want to sell but not under $ 1,500. So the price would drop but then once it had been restored by the market it would drop again.

Whether that "someone" has been spooked and dumped tons of the stuff at whatever price they can get is difficult to say but what concerns me now is this...

Gold is held as a reserve by many countries and the lack of supply this causes keeps the price up. If Cyprus does, indeed, sell then will other countries consider converting their reserves to cash while they can still get above $ 1,250? What happens if there is a scramble to be first to the market?

America could sell off its gold and rent out Fort Knox to the Chinese to store their money.

If supply suddenly outstrips demand by a factor of 2 or 3 to 1 then the stuff won't be worth the paper it isn't printed on.

Originally Posted by waradmiral

Originally Posted by draco888

^ property provides a yield! Yet more revelations from the maestro! Cars have maintenance costs and property provides a yield. Must write that down!

Oh dear I've upset him. The idiot can't be bothered looking at a LT chart but it's apparently my fault he's wrong.

Hahaha wrong about what? Do you have a link to LT car maintenance costs?

Originally Posted by waradmiral

Originally Posted by Thormaturge

Originally Posted by waradmiral

Property goes up and down but provides a yield unlike gold which provides no income.

Fairly basic stuff which you muppets fail to understand.

"yields" can be negative, especially during times of high interest, or fallow periods (where there is no tenant).
gold is depreciating you aren't having to dig into your other income in order to maintain it.

True and negative yields are tax effective.

sell.

What a classic!