HALODIN wrote:It's not manipulated on a long term basis (but it is manipulated on a short term basis), it's just the way the system works. If you're going to take the conspiratorial approach, then the whole banking system is fraudulent because there isn't enough cash to cover deposits. It's the same with an IT helpdesk, the NHS, the Fire Service, the Police etc... if everyone needs the service at the same time, it all falls apart. The COMEX is designed to service a small percentage of traders standing for delivery, because hardly anyone wants to take delivery.
If you demand your precious metals from the comex they will kick you out. They have sold approx 320 ounces of gold for every ounce they hold, they can NEVER settle in real gold. this is not a short term manipulation LOL
HALODIN wrote:I don't think hoarding is the correct terminology, China "hoarded" far less than everyone thought they had. It transpires that the gold that left the west for the east was in fact for the Chinese people and not the PBOC.
China ( the government ) has very productive gold mines. None of the gold they produce leaves China, they keep/hoard/accumulate it all.
The banks are hoarding physical precious metals, why do you think that is ?
HALODIN wrote:Only if you take delivery. If you use a service like goldmoney.com or bullionvault.com you don't pay VAT. Even if you did buy some capital gains tax free silver Britannias you would just pass on the cost of the VAT to the person who buys it from you.
Explosive wrote:BTW Silver is a crap buy in the UK as VAT is charged when you buy it.
Of course, but if you don't take delivery you have bought nothing other than a piece of paper.
The banks are hoarding physical metal, why do you think that is ?
Whoever told you that is telling you porkies. I've just explained how it works... Do most houses have 1 bathroom per person or is there an assumption that not everyone wants to use the loo at the same time? It's the same idea. No... they haven't. They've sold 320 future's contracts, not ounces of gold. They don't need to settle each contract for the underlying commodity. Every commodity market is EXACTLY the same. Are they manipulating copper, aluminium, sugar, wheat etc.. because they couldn't stand for delivery if 100% of their contracts requested it. You can't have it one way for wheat and another way for gold, it's the same system.
The PBOC reported their gold holdings, it was disappointing to say the least, especially given how many rumors were spread over the years.
Explosive wrote:If you demand your precious metals from the comex they will kick you out. They have sold approx 320 ounces of gold for every ounce they hold, they can NEVER settle in real gold. this is not a short term manipulation LOL
China ( the government ) has very productive gold mines. None of the gold they produce leaves China, they keep/hoard/accumulate it all.
The banks are hoarding physical precious metals, why do you think that is ?
It depends on the bit of paper. If you have gold in a Brinks or Via Mat vault through Goldmoney or Bullionvault, you are the legal owner you are not an unsecured creditor.
Explosive wrote:Of course, but if you don't take delivery you have bought nothing other than a piece of paper.
The banks are hoarding physical metal, why do you think that is ?
HALODIN wrote:It depends on the bit of paper. If you have gold in a Brinks or Via Mat vault through Goldmoney or Bullionvault, you are the legal owner you are not an unsecured creditor.
Explosive wrote:Of course, but if you don't take delivery you have bought nothing other than a piece of paper.
The banks are hoarding physical metal, why do you think that is ?
Gold in a Brinks or Via Mat vault is really handy. And you even get a piece of paper to show that you own it
The banks are hoarding physical metal, why do you think that is ?
HALODIN wrote:Whoever told you that is telling you porkies. I've just explained how it works... Do most houses have 1 bathroom per person or is there an assumption that not everyone wants to use the loo at the same time? It's the same idea. No... they haven't. They've sold 320 future's contracts, not ounces of gold. They don't need to settle each contract for the underlying commodity. Every commodity market is EXACTLY the same. Are they manipulating copper, aluminium, sugar, wheat etc.. because they couldn't stand for delivery if 100% of their contracts requested it. You can't have it one way for wheat and another way for gold, it's the same system.
The PBOC reported their gold holdings, it was disappointing to say the least, especially given how many rumors were spread over the years.
If you want to accept what the powers that be tell you then so be it. :) You will be fine !
The banks are hoarding physical precious metals, why do you think that is ?
