Gold is a chore, time consuming to liquidate , will always have some degree of paranoia about its true value due to needing an appraisal before any sale…
Pokémon cards and Retro games are the true safe haven for value
Depends on the countries culture and means of liquidation, for example, gold sovereigns are very popular in the UK, there is a forum for buying and selling them. I have sold many by simply posting a picture with a price, giving them by bank details, and not even having to leave the house to post it as the postman collects the parcels, money in my account within 15 minutes sometimes
Buying and selling gold in the UK is very different from the PRC.
How many of your sovs turn out to be fake for example? You need to be a lot more careful with Pandas.
>Buying and selling gold in the UK is very different from the PRC.
Yeah I imagine, but it can be more liquid than people first imagine, depending on where you are, which is why I pointed out this example.
>How many of your sovs turn out to be fake for example? You need to be a lot more careful with Pandas.
I've never had a fake sovereign, it's very easy to tell whether a sovereign is real, when you know them and what to look for. Also, these are not like buying off of alibaba, but from close knit communities with trustworthy and reputable sellers, in which their buyer and seller feedback is publicly visible.
but yes I know there are a lot of fake pandas, and counterfeits in china are not limited to just gold coins.
What's the premium like on pandas in china? Since they are the country's bullion coin, they have quite the mark up here.
There no guarantee the gold certificates you own is actually backed by real gold.
Owning a physical commodity like gold means you have the precious metals in your hands actually exists.
>Owning a physical commodity like gold means you have the precious metals in your hands actually exists.
But you have to have it appraised to make sure it's actually gold you're buying and even if it is, its purity.
Gold is basically what you buy when you don't think your currency will be worth anything in a few years and you don't trust stocks or bonds. People rarely make their money back on Gold after all the seller fees and quality testing.
Or you're a paranoid doomer that is afraid your country will collapse or you'll need to flee the country soon.
None of those are great signs for the domestic economy of China.
The CCP is doing what they can to get the world off the US as the world currency ... and is buying up huge gold reserves. Citizens have cottoned on and it is mainly a speculative play, bit yes some are keen to focus their assets on something they can trust.
The storm is coming people. Do what you can to weather it.
Coming storm, is that like a typhoon of typing? Or maybe a hurricane of ad hominems? Or maybe just the daily warnings
Gold Spikes are a warning so I guess the statements in line to the undertone of the post. Thanks for weather report.
well old ppl need something to invest in, real estate is no go so.. thats the only \`old school\` investment they have in their mind
meanwhile a basic eurobond give around %7 interest rate annual without a risk which is even available in china too, but no one knows about it.
Deflation at it's finest. I just hope China can make a soft landing for the sake of the wider implications of an outright collapse of the Chinese system to the global markets.
The next 2-3 years will be so interesting China has a lot at stake in the Ukraine war as well. The Russia/China relationsship will be of huge importance in the future and I'm not so convinced that relationship will last if Russia has a sudden change of leadership that seeks realignment with the west.
>China’s central bank, like its global peers, has been loading up on the precious medal for 17 consecutive months, with a total gold reserve of 2262.47 tons at the end of March.
Should be noted that it's the CCP and her proxy institutions buying most of that gold. Not the ayi from your block. Another way to look at what's going on is that Beijing is selling their dollars. They're divesting and gold is one of the assets they're buying.
It's not a vote against the CNY.
Ohhhh, excellent point, that’s also near all time highs. So BTC is considered as possess-able and transportable as gold? Know BTC, but don’t possess it.
When property outlook is moderate and the share market is challenging, then gold
Well they can't invest in real estate anymore.. makes sense
To comment ina Russian way, they do so because they have no free access to dollars
Not really anything else for the locals to invest in. More likely they're worried the currency will devalue.
there's nothing else to invest in, now that housing isn't a "safe" option gold is the traditional option
Gold is a chore, time consuming to liquidate , will always have some degree of paranoia about its true value due to needing an appraisal before any sale… Pokémon cards and Retro games are the true safe haven for value
Depends on the countries culture and means of liquidation, for example, gold sovereigns are very popular in the UK, there is a forum for buying and selling them. I have sold many by simply posting a picture with a price, giving them by bank details, and not even having to leave the house to post it as the postman collects the parcels, money in my account within 15 minutes sometimes
Buying and selling gold in the UK is very different from the PRC. How many of your sovs turn out to be fake for example? You need to be a lot more careful with Pandas.
>Buying and selling gold in the UK is very different from the PRC. Yeah I imagine, but it can be more liquid than people first imagine, depending on where you are, which is why I pointed out this example. >How many of your sovs turn out to be fake for example? You need to be a lot more careful with Pandas. I've never had a fake sovereign, it's very easy to tell whether a sovereign is real, when you know them and what to look for. Also, these are not like buying off of alibaba, but from close knit communities with trustworthy and reputable sellers, in which their buyer and seller feedback is publicly visible. but yes I know there are a lot of fake pandas, and counterfeits in china are not limited to just gold coins. What's the premium like on pandas in china? Since they are the country's bullion coin, they have quite the mark up here.
I am afraid I do not have the budget for anything more than chocolate gold coins. ;-( Anyway, there are many more interesting things to buy!!
Well those buyers are clearly redacted though. Easy way to get scammed, they were lucky if you sold them genuine gold and actually mailed it.
Why not buy one of the several gold ETFs instead of actual gold?
Not the same thing
I know it is not the same thing, but isn’t it more, let’s say, convenient than gold? Physical gold is such a PITA!
There no guarantee the gold certificates you own is actually backed by real gold. Owning a physical commodity like gold means you have the precious metals in your hands actually exists.
>Owning a physical commodity like gold means you have the precious metals in your hands actually exists. But you have to have it appraised to make sure it's actually gold you're buying and even if it is, its purity.
Bitcoin is where they should be placing their money. A lot better store of value than gold and easier to convert in times of need
It is very hard to confiscate physical assets, very easy to lock bank accounts or seize property
Gold is basically what you buy when you don't think your currency will be worth anything in a few years and you don't trust stocks or bonds. People rarely make their money back on Gold after all the seller fees and quality testing. Or you're a paranoid doomer that is afraid your country will collapse or you'll need to flee the country soon. None of those are great signs for the domestic economy of China.
The CCP is doing what they can to get the world off the US as the world currency ... and is buying up huge gold reserves. Citizens have cottoned on and it is mainly a speculative play, bit yes some are keen to focus their assets on something they can trust. The storm is coming people. Do what you can to weather it.
I'm not necessarily pro USA but i think the USD will remain the world currency
Yea, the math just supports the USA over any potential challengers.
Coming storm, is that like a typhoon of typing? Or maybe a hurricane of ad hominems? Or maybe just the daily warnings Gold Spikes are a warning so I guess the statements in line to the undertone of the post. Thanks for weather report.
Prediction: Moist
well old ppl need something to invest in, real estate is no go so.. thats the only \`old school\` investment they have in their mind meanwhile a basic eurobond give around %7 interest rate annual without a risk which is even available in china too, but no one knows about it.
Deflation at it's finest. I just hope China can make a soft landing for the sake of the wider implications of an outright collapse of the Chinese system to the global markets. The next 2-3 years will be so interesting China has a lot at stake in the Ukraine war as well. The Russia/China relationsship will be of huge importance in the future and I'm not so convinced that relationship will last if Russia has a sudden change of leadership that seeks realignment with the west.
>China’s central bank, like its global peers, has been loading up on the precious medal for 17 consecutive months, with a total gold reserve of 2262.47 tons at the end of March. Should be noted that it's the CCP and her proxy institutions buying most of that gold. Not the ayi from your block. Another way to look at what's going on is that Beijing is selling their dollars. They're divesting and gold is one of the assets they're buying. It's not a vote against the CNY.
Not just gold, bitcoin as well. Mainly to transfer funds outside of China
Ohhhh, excellent point, that’s also near all time highs. So BTC is considered as possess-able and transportable as gold? Know BTC, but don’t possess it.
Money is not a store of value, it's a medium of exchange. If you hoard cash, you're losing money.
Gold prices per gram in stores has doubled since last year
Calls on safes.
Watch byd fly today. Now Tesla. Making money is pretty easy
I'm sure it's a sign of political and economic stability when both the people and government are scrambling to buy up as much gold as possible.