I was quite fortunate to have bought my
Goldand
Silverin 2006 at just above £300. and £5.50
respectively, and although Gold has
outperformedSilver I think this will change and
silver will outpace Gold by quite a margin.
I too am waiting for pullbacks to increase my exposure. The only
concern is how effective the investment banks are in surpressing
the prices, not only of bullion but other commodities, as this
itemexplains.
"Investment bankers by virtue of their privileged position at
the spigots of credit have
over the years garnered for themselves a disproportionate
slice of the world's wealth. The best description of their wealth
is from a banker himself, Sir Josiah Stamp, at the time in1927 the
2 nd richest man in England and former head of The Bank of
England:"
Banking was conceived in iniquity and was born in sin. The
bankers own the earth. Take it away from them, but leave them the
power to create money, and with the flick of the pen they will
create enough deposits to buy it back again. However, take it away
from them, and all the great fortunes like mine will disappear and
they ought to disappear, for this would be a happier and better
world to live in. But, if you wish to remain the slaves of bankers
and pay the cost of your own slavery, let them continue to create
money.
saturn6- I own some silver 100 oz bars too, however my main problem
with Silver is that it is more of an industrial metal and so will
following the other commodities and base metals instead of
gold.
Although if it is to be used as a store of wealth, or a form of
money, which I think it will again, and in fact already has by some
like you and me, the price will appreciate considerably.
The thing I like about Silver is its lower denomination, which
offers an easy source of currency at lower price multiples, ideal
for purchasing daily provisions and such. Hence why I have most of
my allocation in Silver rounds American eagles and Silver
Brtannias.
Silver was always used as currency and its name is the same for
money in many countries, The
poundwas a unit of account in
Anglo-Saxon
England
,equal to 240 silver
penniesand equivalent to one
pound weightof silver. It evolved into the modern English
currency
,the
pound sterling.
The drawback for us in the UK is we have to pay VAT (Value Added
Tax) on silver purchases. Although that has recently reduced from
17.5% to 15%. it has prevented people here using it as a hedge
against inflation or as a store of wealth previously, but not so
much now. However I feel the appreciation we could see in Silver
far outpaces any such premium we have to pay in VAT, if indeed it
does become used as currency again and is not confiscated.
Posted by hornsant on 16th of Feb 2009 at 08:15 am
You are right about silver, in Chile when you say cash you
actualy say silver -
plata-The chinese have always used the Silver standard
instead of gold and the increasing involvment of China in the
global economy will add weight to Silver.
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I have Gold, and Silver and Platinum.
physical gold
Posted by saturn6 on 15th of Feb 2009 at 08:26 am
I was quite fortunate to have bought my Goldand Silverin 2006 at just above £300. and £5.50 respectively, and although Gold has outperformedSilver I think this will change and silver will outpace Gold by quite a margin.
I too am waiting for pullbacks to increase my exposure. The only concern is how effective the investment banks are in surpressing the prices, not only of bullion but other commodities, as this itemexplains.
"Investment bankers by virtue of their privileged position at the spigots of credit have over the years garnered for themselves a disproportionate slice of the world's wealth. The best description of their wealth is from a banker himself, Sir Josiah Stamp, at the time in1927 the 2 nd richest man in England and former head of The Bank of England:"
Banking was conceived in iniquity and was born in sin. The bankers own the earth. Take it away from them, but leave them the power to create money, and with the flick of the pen they will create enough deposits to buy it back again. However, take it away from them, and all the great fortunes like mine will disappear and they ought to disappear, for this would be a happier and better world to live in. But, if you wish to remain the slaves of bankers and pay the cost of your own slavery, let them continue to create money.
saturn6 - I own some silver
Posted by matt on 15th of Feb 2009 at 08:53 pm
saturn6 - I own some silver 100 oz bars too, however my main problem with Silver is that it is more of an industrial metal and so will following the other commodities and base metals instead of gold.
Thats true!
Posted by saturn6 on 16th of Feb 2009 at 04:07 am
Although if it is to be used as a store of wealth, or a form of money, which I think it will again, and in fact already has by some like you and me, the price will appreciate considerably.
The thing I like about Silver is its lower denomination, which offers an easy source of currency at lower price multiples, ideal for purchasing daily provisions and such. Hence why I have most of my allocation in Silver rounds American eagles and Silver Brtannias.
Silver was always used as currency and its name is the same for money in many countries, The poundwas a unit of account in Anglo-Saxon England ,equal to 240 silver penniesand equivalent to one pound weight of silver. It evolved into the modern English currency ,the pound sterling .
The drawback for us in the UK is we have to pay VAT (Value Added Tax) on silver purchases. Although that has recently reduced from 17.5% to 15%. it has prevented people here using it as a hedge against inflation or as a store of wealth previously, but not so much now. However I feel the appreciation we could see in Silver far outpaces any such premium we have to pay in VAT, if indeed it does become used as currency again and is not confiscated.
You are right about silver,
Posted by hornsant on 16th of Feb 2009 at 08:15 am
You are right about silver, in Chile when you say cash you actualy say silver - plata-The chinese have always used the Silver standard instead of gold and the increasing involvment of China in the global economy will add weight to Silver.