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Billions lost on bullion
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09-01-2014 01:07 PM
Post: #21
STUKA76 Online
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(07-01-2014 05:02 PM)debono Wrote:  IMHO, I think gold price won't go down much, no matter what happens, cos mankind cannot 'produce' gold in the laboratory.... It is a natural occurring metal, not found in abundance. Also, gold is the best conductor of electricity, and use in most electronics circuitry, in computers and the like. Because gold is cannot corrode, it is used to coat many metals parts and components, thence it is made into jewellery....

Gold.is like shares, u cannot eat it, but u need to squeeze money out of your holdings of gold n.shares

Gold is plenty deep under the sea..u need high tech n costs to extract it

The fastest way to get gold is to go to wars
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09-01-2014 01:08 PM
Post: #22
citysleeker Away
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(09-01-2014 01:04 PM)STUKA76 Wrote:  U must think of usa, the world biggest holder of gold, n they didnt sell gold when gold was still very high in 2012 n they are in desperate need of money

Is Fort knox a big hoax?

There is a reason why Germany wants their gold back Smile
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09-01-2014 01:13 PM
Post: #23
STUKA76 Online
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(09-01-2014 01:07 PM)debono Wrote:  In the past US dollars are backed by gold in Fort Knox....but since 1972, the US dollar is no more backed by gold in their vault, but rather they just print the money, and the value of their money is based on the faith of the dollar or currency of that country...

Debono, my q is, is.there gold at all inside fort knox, or just golld plated tungsten??
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09-01-2014 01:15 PM
Post: #24
STUKA76 Online
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(09-01-2014 01:07 PM)citysleeker Wrote:  another upside to gold is CHINA.... they last reported their holdings in 2009, at over 1,000 tonnes.
everyone knows CHINA been buying a lot since then..... when they next release their holdings, i guarantee you market will be SHOCKED!

China buys gold from goldmines in china.....china knows about gold plated tungsten in world mkts...

Hitler bought lots of tungsten from china in 1930s
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09-01-2014 01:27 PM
Post: #25
sggold Offline
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(09-01-2014 11:45 AM)RUNifyouhaveto Wrote:  numi coins are hard to cash out when you need urgent cash. Singapore and US pawnshops tell me, they will only value the coin based on precious metal contents. Of course, such valuations are very unfair. But when you keep urgent cash, you have no choice.

I have been through that kind of days and you will understand the frustrations. You know what, I am even one of the few rare singaporeans to deal with the famous LV Pawn Stars (as seen on TV), and they also tell me when it comes to precious metals, quick liquidation = based on wt.



Summary:

- If you turn to middlemen, the buy-sell spread is basically shit = buying and selling within 1 years will probably translate to a loss.
- If you turn to pawnshops, they value based on precious metals weight.
- To sell for premium because a coin is limited or proof, you will need a longer time to find the appreciative buyer.
Therefore, it is better to buy numi coins and keep for your descendents and don't look back.
Big hug: my 1.9 cents Big hug:

paper gold (short term trading, emergency etc.) + physical numis coin (long term holding.. put it on display... pass it down to your kids as gift etc....)

while collectors will advise you to just collect what you like.. unless u r very rich and no need to worry about selling.. its important to also collect what's in demand... if you hv a unique and nice collection.. it might be nice to look at... but very hard to sell for good price later...

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09-01-2014 01:34 PM
Post: #26
Tiger1234 Offline
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So r we gg to presume those poor n neglected r gg to be rich? Seriously those in power really rule nowadsys. The rich r getting richer n e poor fool themselves tt they r better off.
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09-01-2014 04:25 PM
Post: #27
RUNifyouhaveto Offline
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(09-01-2014 01:27 PM)sggold Wrote:  paper gold (short term trading, emergency etc.) + physical numis coin (long term holding.. put it on display... pass it down to your kids as gift etc....)
good summary. short n sweet
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09-01-2014 04:28 PM
Post: #28
RUNifyouhaveto Offline
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(09-01-2014 11:56 AM)Yin yang Wrote:  Gold investment is not for faint hearted...many I knew have bankrupted from gold trading....guess it's all manipulated by central banks of big powers.

Silver is also very volatile. It was $40 in 1980, $6 during lehmen/subprime crisis, $40 again 2 years ago, $20 now.
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09-01-2014 05:25 PM
Post: #29
debono Offline
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(09-01-2014 01:13 PM)STUKA76 Wrote:  Debono, my q is, is.there gold at all inside fort knox, or just golld plated tungsten??

Since the Greenback, US dollars is not backed by gold bullions as their reserves, thence there is no necessity to store gold bars inside Fort Knox. Having said that, till today, the amount of gold bars kept in Fort Knox is a closely guarded secret, and nobody is allowed to take photographs or videos of the amount of gold inside the vault there. Everyone who worked inside the Fort Knox treasury, is vowed to secrecy, even after their retirement.........
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09-01-2014 07:24 PM
Post: #30
STUKA76 Online
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(09-01-2014 05:25 PM)debono Wrote:  Since the Greenback, US dollars is not backed by gold bullions as their reserves, thence there is no necessity to store gold bars inside Fort Knox. Having said that, till today, the amount of gold bars kept in Fort Knox is a closely guarded secret, and nobody is allowed to take photographs or videos of the amount of gold inside the vault there. Everyone who worked inside the Fort Knox treasury, is vowed to secrecy, even after their retirement.........

Debono, u are great in wasting bandwidth

Rolling on the flor laughing:

Everyone wants to know why usa has not been selling its gold, but u keep talking stuff which should b common knowledge by now about gold stsndard
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