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Romania Proposes to Repatriate 95% Of Its Gold

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Comments

  • MsMorrisineMsMorrisine Posts: 32,136 ✭✭✭✭✭

    I'll say it first
    Make it 100%

    Current maintainer of Stone's Master List of Favorite Websites // My BST transactions
  • HemisphericalHemispherical Posts: 9,370 ✭✭✭✭✭

    Is this why they sent the gold abroad in the first place? LOL :D

    https://forums.collectors.com/discussion/comment/12146249

  • OPAOPA Posts: 17,104 ✭✭✭✭✭

    Interesting read.

    "According to the World Gold Council, central banks collectively bought 651.5 tonnes of gold in 2018, the most purchases in more than 50 years."

    Obvious, the supply is there, otherwise the price of gold would have sky rocketed.

    "Bongo drive 1984 Lincoln that looks like old coin dug from ground."
  • bronco2078bronco2078 Posts: 9,964 ✭✭✭✭✭

    I know this would be bars they are talking about but , I have never seen a romanian gold coin. Anyone have any romanian gold?

  • PerryHallPerryHall Posts: 45,301 ✭✭✭✭✭

    @bronco2078 said:
    I know this would be bars they are talking about but , I have never seen a romanian gold coin. Anyone have any romanian gold?

    Go to eBay and do a search for "Romania gold coin" and you'll see many coins including many that have been slabbed.

    Worry is the interest you pay on a debt you may not owe.

  • bronco2078bronco2078 Posts: 9,964 ✭✭✭✭✭

    @PerryHall said:

    @bronco2078 said:
    I know this would be bars they are talking about but , I have never seen a romanian gold coin. Anyone have any romanian gold?

    Go to eBay and do a search for "Romania gold coin" and you'll see many coins including many that have been slabbed.

    Ok so they were on the LMU standard it looks like . 20 Lei = 20 francs the 1944 looks nice

    https://www.ebay.com/itm/Romania-1944-Gold-20-Lei-BU-Brilliant-Uncirculated-Coin-3-Kings-1895-oz-AGW/223255360057?epid=102031590&hash=item33fb0e7239:g:MQYAAOSwQQtboA1z

    A touch too pricey though that way I like mine in bullion grades usually

  • blitzdudeblitzdude Posts: 5,367 ✭✭✭✭✭

    @OPA said:
    Interesting read.

    "According to the World Gold Council, central banks collectively bought 651.5 tonnes of gold in 2018, the most purchases in more than 50 years."

    Obvious, the supply is there, otherwise the price of gold would have sky rocketed.

    Paper gold everywhere. Here, let me hold that for you in my vault. Trust me it's really there and I didn't just sell it to ten other people. honest. lulz

    The whole worlds off its rocker, buy Gold™.

  • MsMorrisineMsMorrisine Posts: 32,136 ✭✭✭✭✭

    China is a big gold buyer

    Current maintainer of Stone's Master List of Favorite Websites // My BST transactions
  • metalmeistermetalmeister Posts: 4,584 ✭✭✭✭✭

    I read around 300 paper ounces for every actual ounce of Gold that exists. Please correct me.

    email: ccacollectibles@yahoo.com

    100% Positive BST transactions
  • tneigtneig Posts: 1,505 ✭✭✭

    Yikes. House of cards.

    @metalmeister said:
    I read around 300 paper ounces for every actual ounce of Gold that exists. Please correct me.

    COA
  • Timbuk3Timbuk3 Posts: 11,658 ✭✭✭✭✭

    Big issues forthcoming !!! :'(

    Timbuk3
  • cohodkcohodk Posts: 18,553 ✭✭✭✭✭

    @tneig said:
    Yikes. House of cards.

    @metalmeister said:
    I read around 300 paper ounces for every actual ounce of Gold that exists. Please correct me.

    Why?

    Excuses are tools of the ignorant

    Knowledge is the enemy of fear

  • tneigtneig Posts: 1,505 ✭✭✭

    Since it isn't real gold, the true number could be 10,000 paper per actual for all we know.

    oh, PS
    Romania ain't getting shit back and the best they can do is 'go along with the program' and lease it all out a few hundred times themselves. Like the young guy 'holding' grandma's money. 'Sorry, grandma its all gone.'

    @cohodk said:

    @tneig said:
    Yikes. House of cards.

    @metalmeister said:
    I read around 300 paper ounces for every actual ounce of Gold that exists. Please correct me.

    Why?

    COA
  • cohodkcohodk Posts: 18,553 ✭✭✭✭✭

    @tneig said:
    Since it isn't real gold, the true number could be 10,000 paper per actual for all we know.

    So why would 10,000x mean anything? What is the importance of this physical vs paper thing?

    Excuses are tools of the ignorant

    Knowledge is the enemy of fear

  • rickoricko Posts: 98,724 ✭✭✭✭✭

    I would say it is only important if you want it and cannot get it. Cheers, RickO

  • cohodkcohodk Posts: 18,553 ✭✭✭✭✭

    @ricko said:
    I would say it is only important if you want it and cannot get it. Cheers, RickO

    Of course....if "they" are playing paper, then they dont want physical in the first place.

    This "fact" that is often used by PMers is completely useless.

    Excuses are tools of the ignorant

    Knowledge is the enemy of fear

  • PerryHallPerryHall Posts: 45,301 ✭✭✭✭✭

    How hard is it to turn this paper gold into real gold?

    Worry is the interest you pay on a debt you may not owe.

  • MsMorrisineMsMorrisine Posts: 32,136 ✭✭✭✭✭

    who says it's absolutely paper.

    I personally believe it's all physical.

    Current maintainer of Stone's Master List of Favorite Websites // My BST transactions
  • MsMorrisineMsMorrisine Posts: 32,136 ✭✭✭✭✭

    @PerryHall said:
    How hard is it to turn this paper gold into real gold?

    it's very easy. full size futures contracts are deliverable. simply exercise the contract and make arrangements for secure delivery.

    Current maintainer of Stone's Master List of Favorite Websites // My BST transactions
  • metalmeistermetalmeister Posts: 4,584 ✭✭✭✭✭

    More likely it's mostly 000's and 111's

    email: ccacollectibles@yahoo.com

    100% Positive BST transactions
  • MsMorrisineMsMorrisine Posts: 32,136 ✭✭✭✭✭

    I still vote physical

    Current maintainer of Stone's Master List of Favorite Websites // My BST transactions
  • derrybderryb Posts: 36,116 ✭✭✭✭✭
    edited March 2, 2019 7:32PM

    @MsMorrisine said:

    @PerryHall said:
    How hard is it to turn this paper gold into real gold?

    it's very easy. full size futures contracts are deliverable. simply exercise the contract and make arrangements for secure delivery.

    The futures market system is based on the belief that not everyone will want (take delivery of) physical gold at the same time, therefore paper contracts outnumber physical backing by at least 100 ounces to 1. What will break the futures market is not being able to deliver sudden physical demand from the contract holders. While most holders of paper have no intention of converting to physical, you can bet your bottom gold dollar they will change their mind if something happens to skyrocket the gold price while they are holding those contracts. This is another reason that it is imperative to not let the gold price explode - it would break the futures market and create a lot of bullion bank default.

    Same as the banking system is based on the belief that not everyone will withdraw their cash at the same time, therefore loans of that cash outnumber the actual cash by at least 10 to 1 (fractional banking). What will break the banking systems is not being able to meet sudden cash demand (run on the bank). It is why an emergency bailout was needed in 2009.

    @cohodk said:
    if "they" are playing paper, then they dont want physical in the first place.

    Surging COMEX Silver Deliveries (May 2018)

    Somebody is taking physical deliveries or there would be no warehouse action in the reports. Do not forget that futures markets were created to stabilize commodity prices. If those prices can be stabilized with paper contracts only a fool cannot see that prices can be driven up or down with those same contracts by anyone with the resources to control the price. Does not JPM have the resources (and possibly the blessing of the regulators)?

    The decline from democracy to tyranny is both a natural and inevitable one.

  • cohodkcohodk Posts: 18,553 ✭✭✭✭✭

    @derryb said:

    @MsMorrisine said:

    @PerryHall said:
    How hard is it to turn this paper gold into real gold?

    it's very easy. full size futures contracts are deliverable. simply exercise the contract and make arrangements for secure delivery.

    The futures market system is based on the belief that not everyone will want (take delivery of) physical gold at the same time, therefore paper contracts outnumber physical backing by at least 100 ounces to 1. What will break the futures market is not being able to deliver sudden physical demand from the contract holders. While most holders of paper have no intention of converting to physical, you can bet your bottom gold dollar they will change their mind if something happens to skyrocket the gold price while they are holding those contracts. This is another reason that it is imperative to not let the gold price explode - it would break the futures market and create a lot of bullion bank default.

    Same as the banking system is based on the belief that not everyone will withdraw their cash at the same time, therefore loans of that cash outnumber the actual cash by at least 10 to 1 (fractional banking). What will break the banking systems is not being able to meet sudden cash demand (run on the bank). It is why an emergency bailout was needed in 2009.

    @cohodk said:
    if "they" are playing paper, then they dont want physical in the first place.

    Surging COMEX Silver Deliveries (May 2018)

    Somebody is taking physical deliveries or there would be no warehouse action in the reports. Do not forget that futures markets were created to stabilize commodity prices. If those prices can be stabilized with paper contracts only a fool cannot see that prices can be driven up or down with those same contracts by anyone with the resources to control the price. Does not JPM have the resources (and possibly the blessing of the regulators)?

    A lot of words there, but all rhetoric. Ill put up my bottom dollar, will you? No rhetoric here.

    Regarding sikver deliveries....isnt there another thread where a MAJOR producer of silver widgets "ran out" of silver? Kinda makes sense that they might need to take delivery of more. Sense is common derryb, i hope you can find some.

    Excuses are tools of the ignorant

    Knowledge is the enemy of fear

  • derrybderryb Posts: 36,116 ✭✭✭✭✭

    a producer of silver trinkets who runs out of silver can't blame it on a silver shortage. He needs to blame his planning dept.

    I don't need to put up a bottom dollar regarding futures contracts. I avoid them as much as I avoid your bs.

    The decline from democracy to tyranny is both a natural and inevitable one.

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