i own some lloyds. I think im down something like 98%
I'm holding :)
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i own some lloyds. I think im down something like 98%
I'm holding :)
Feel bad for Lloyds. They were semi forced into getting HBOS and thats the only thing that destroyed them. The Govt is sort of obligated to make sure they survive. Still not absolving management of all responsibilty. But it did make a safe bank become a dodgy bank.
back to Gold....
you guys seen this
this guy always has in interesting take on things
http://blogs.ft.com/maverecon/2009/1...ar-old-bubble/Quote:
In a world with multiple fiat moneys, the zero value of money equilibrium lurks for each of the fiat currencies, including gold. Admittedly, as regards gold, so far so good. Gold has positive value. It has had positive value for nigh-on 6000 years. That must make it the longest-lasting bubble in human history.
yes, peat, he logically discusses gold and paper money, and he finishes by saying" I wouldn't argue with a 6,000 year bubble". Some of the posts following the blog are also interesting.
OK It seems that everyone is buying gold! Is that a signal to sell?
Maybe my previous post on the uselessness and waste of mining gold got a larger audience than i thought.
Not everyones buying gold the IMF is selling the U.K- U.S.A aren't buying have sold in the past ,the countrys that have too much fiat paper savings an small gold holdings are the main buyers
We small investors are just in for the ride,IMHO silver's going blow the doors off gold in terms of percent return my personal Silver bullion holdings are round 30% up in NZD's value just over a year holding-I'm pretty sure the 1yr NZD gold price hasn't moved much in that time...............
The question in my mind today is who is India going to sell its gold to for a profit? As you suggest the west and institutions are selling to India and China and the 3rd world. So who is going to buy from them. All they are doing is tieing up cash in a useless expensive to store asset. They can keep selling to each other but eventually someone will be caught holding the baby. India would have being better spending 6bill on improving roads and schools.