They're not buying gold, they're selling

[Anonymous No.18473301]

Oh and shops are now closing, they don't want to buy at these prices. Why don't they want to hold on to their precious shiny rocks, biz?

https://twitter.com/Sonamsangbo/status/1250233127747776512

https://www.khaosod.co.th/covid-19/news_3951101

[Anonymous No.18473324]

>that twitter
lmao imagine your official language being written in literal wingdings

[Anonymous No.18473327]

>with no job and no cash and nothing in the cupboard why are people liquidating assets?

[Anonymous No.18473371]

Stick to your Shiny boomer Rocks Fud. You just expose the retards you are.
>>18473327
This.
Your basically saying " Why are people that need to spend money to live spending it".

[Anonymous No.18473397]

>>18473371
It's not just they are trying to liquidate it, the shops are refusing to buy it

[Anonymous No.18473952]

>>18473397
>>18473301
1.People lost their job and are forced to sell their gold.
2.The shops are giving the people a price to buy the gold but the people want a higher price.
3.The owner of the shop still has to pay rent and his employees and people are currently buying less gold in poor countries.
5.Most of the buying is bullion by rich people not premium prices jewellery.
4.It's that simple!

[Anonymous No.18473970]

>The goyim are selling the only real money they have a few years before global hyperinflation/ end of the fiat currency era

[Anonymous No.18474045]

>>18473952
No. The shops have an oversupply of gold and can't take more. They aren't offering a price. They are closed.

[Anonymous No.18474053]

>>18473970
h o t t

[Anonymous No.18474074]

>>18474045
Source and what country?
In Western countries there is a big shortage of gold.
The last couple of months I have bought 7 kilo's of gold and now I can't get any kilobars anywhere.
These people must be very desperate to sell their gold for food it seems.

[Anonymous No.18474097]

>>18473301
I can't read those articles what is that Thai?

[Anonymous No.18474109]

>>18474074
Thailand, source is in the OP links though you'll have to use google translate

[Anonymous No.18474114]

>>18473301
legit economic crisis

[Anonymous No.18474125]

>>18474074
You bought 7 kilo's of gold?

How high is your fucking net worth? wtf

[Anonymous No.18474142]

>>18473301
In Asia, people buy gold in good times as savings. Times are bad now so people are selling for cash to pay rent so they don’t go homeless. Because they buy gold in good times they weren’t caught with their pants down like people in the West who are panicking into PMs because they see the writing on the wall. You could expect dealers in the West to be flush with cash right now with all the panicking, in Asia though I imagine the dealers are doing about as well as any other business, probably pretty shitty with not much cash on hand.

[Anonymous No.18474148]

>>18474074
Same here. 1.5 kilo stacklet reporting in.

[Anonymous No.18474162]

>>18474045
Brainlets. I wish I could go to Thailand. I'd buy the whole thing $10 under spot.

[Anonymous No.18474168]

>>18474148
>1.5 kilo stacklet
>stacklet

[Anonymous No.18474173]

>>18474053
want some moar?

[Anonymous No.18474177]

>>18474168
That's not a lot. Only $80 grand. My LINK stack is larger.

[Anonymous No.18474180]

>>18474168
>He has less then 100 ounces of gold

NGMI

[Anonymous No.18474188]

>>18474177
It’s more gold than 98% of the world is holding senpai

[Anonymous No.18474215]

>>18474188
That's the reason 98% of the world is poor and will stay poor, fren.

[Anonymous No.18474216]

>>18474168
That is like 15kLink
Barely a suicide stack
So yeah, stacklet is fair

[Anonymous No.18474345]

>>18473324
Bloomberg article might suit your fancy. But >>18473952 is right for the most part.

https://www.bloomberg.com/news/articles/2020-04-15/thailand-says-ease-up-on-gold-sales-as-shops-run-out-of-cash?cmpid=socialflow-twitter-business

[Anonymous No.18474365]

because magic rocks is a meme

[Anonymous No.18474413]

>>18474125
Made most of my money with crypto back in 2011 during the last bull diversified in real estate, precious metals and land.
Recently upped my gold stack from 3 kilo to 10 kilo in total and not going to buy anymore.
I am seriously terrified what is going to happen economically the coming months and how it will effect the coming years worldwide.
>>18474148
I remember buying my first kilobar and holding it in my hand, felt so powerfull.
Same feeling as when Bitcoin destroyed $1000 and $10k
>>18474177
>>18474216
Don't play cool, I can dump the whole LINK price back to sub $1, ask Sergey who Bob Surplus is.

[Anonymous No.18474493]

>>18474142
>Because they buy gold in good times they weren’t caught with their pants down like people in the West
oh shut the fuck up you retarded subhuman rock collecting magpie boomer. just fucking kill yourself already. why the fuck would you even pretend like there wasn't just a global dollar short squeeze do you live in a trailer park? again, kill yourself, and I say that because I know you just copy and listen to everything you get told since you're a gold shill

[Anonymous No.18474522]

>>18474413

haha nice,

member the guy that was talking about going fishing in quebec ? he fucking did it and he got a deal with the hydro company to mine with lower tariffs.

did you stay in touch with him ?

[Anonymous No.18474625]

>>18474522
Salamander?

[Anonymous No.18475132]

>>18474413
>on't play cool, I can dump the whole LINK price back to sub $1, ask Sergey who Bob Surplus is.
The last guy who tried that sold 700k linkies into a 0.001 buy wall set up by CZ and killed himself. I would advise you against it.

[Anonymous No.18475172]

>>18473301
Whatever the poor people are doing with their money in shithole countries I plan to do the exact inverse of.

[Anonymous No.18475205]

>>18473301
I posted about the largest dealers refusing almost all coin buybacks and I was called a lying nigger. Then I posted proof and it was ignored. That was days before this hit. /biz/ is full of nigger shills.

[Anonymous No.18475208]

>>18475132
sergay just got chinked

[Anonymous No.18475229]

>>18475205
>posted about the largest dealers refusing almost all coin buybacks and I was called a lying nigger.
Is someone butthurt they spent their tendie money on shinies and doesn't understand when papa shiny dealer won't buy back your shit for more than you paid? Boohoo. Baby waawaa.

[Anonymous No.18475236]

>>18474413
>I remember buying my first kilobar and holding it in my hand, felt so powerfull.
Kilo bars are not very liquid tho. I have half of my stack in 250g bars, the rest in Krugerrands and extra ~1oz in small Dukats. When the shit goes down, don't expect for the banks to have enough cash to buy your kilos, you will have to sell to shops. You also don't know how your other assets perform, so the point might come when you'll have to dig into your PM stack.

[Anonymous No.18475238]

>>18475172
only prepper schizos want to buy shiny rocks, not even the dumbest speculator bats an eye at that crap

[Anonymous No.18475247]

>>18475238
> bats an eye

[Anonymous No.18475259]

>>18475229
No nigger. I was posting info and low IQ faggots like you showed up.

>>18475172
So but gold.

[Anonymous No.18475280]

>>18475238
> only prepper schizos want to buy shiny rocks, not even the dumbest speculator bats an eye at that crap
You totally right. Not sure why I was looking into what JP Morgan is up to. I should have been listening to some anon who calls me a schizo. I've been so stupid.

[Anonymous No.18475289]

>>18473301
>Thinking gold is actually worth anything without the banks support

[Anonymous No.18475295]

>>18473301
>millions of poor Thai rice munchers are starving and are getting desperate to sell their means of storing wealth so everyone on /biz/ should be doing the same, even though now the prices are beginning to moon!!
get your filthy like hands off my gold, jew. You're not getting it and I'll gas your entire family if you even come near it.

[Anonymous No.18475338]

>>18475280
or Russia... or China... or how more than a years worth of gold, silver, palladium and platinum vanished in less than a week. Or how gold is up over 400% since 2000.

[Anonymous No.18475358]

>>18475289
It's not worth anything mate. Give me any you have.

[Anonymous No.18475503]

>>18475172
The usa is a shithole and you are bragging about paying a 100% premium, a guaranteed loss

[Anonymous No.18475582]

>>18475503
This faggot again.

[Anonymous No.18475597]

>>18475503
>guaranteed loss
i'm thinking we're going to break even with that premium.

[Anonymous No.18475767]

>>18475132
lmao CZ personally asked me to invest in Binance and I did back in the days.
You have fucking no clue who the fuck I am do you?
>These newbies man...
>>18475236
I know, I am actually bit afraid all assets might crash in the second wave, that's why I have diversified these last couple of months but still not confident.

[Anonymous No.18475772]

>>18475503
How does it feel to be poor? Serious question. I have no idea.

[Anonymous No.18475939]

>>18475767
Srys question and it's a bit open. In the various future scenarios how are you planning to play them out. Or is it all so fucked you've got no idea and are just playing as the game progresses?

[Anonymous No.18476012]

>>18475767

Tell me more about David Zimbeck. Hes been living in mexico and paying no taxes on his little staking money printer of a project (Bitbay)

[Anonymous No.18476018]

>>18475772
I don't know who these shills are trying to impress or sway. It's paid faggots for sure. None of us are in a position that the silver, gold, palladium, rhodium or platinum weighs heavily on our overall wealth and that we all are aware of our cost average. We are all very aware that the game is in flux and we are trying to protect ourselves firstly and secondly, 'make it.' But, deep down most of us have already 'made it' to find ourselves at this point.

[Anonymous No.18476272]

>>18473301
Liquidity.

[Anonymous No.18476296]

>>18476018
They all unemployed NEETs or partial NEETs who need to epeen. Chads be posting precious metal stacks on top of naked women or Terry Davis memorials. Anyone who understands anything about money wouldn't be talking so much shit. You don't succeed in life shutting yourself off to opportunity. Granted, not every opportunity will turn into a success, but poor fags don't understand this and are stuck in a cycle of fail.

[Anonymous No.18476793]

>>18475939
There are different scenarios that I find plausible to happen that's what making it so difficult.
Normally I bet big on a couple of things but now it's very difficult to predict.
I even own a large stash of $ bills uncirculated, that would give you an estimate on how I lack confident in the whole market as a whole and my own gameplay knowing several scenarios might play out.

[Anonymous No.18476830]

>>18476793
>I even own a large stash of $ bills uncirculated
5k uncirculated hundos here. Smart move anon. Converted most of my other cash to silver in the past month.

[Anonymous No.18476946]

>>18473301
this is exactly what would happen in a big crash scenario
people on the chans have been telling you to stack up on non perishable foods or the means to produce them before stacking up on gold
gold will only moon when the system is really fucked and as such is not a speculative play
a lesson these people are figuring out the hard way
in the middle of the crash the market for everything that isn't a lifenecesity stops trading

gold comes into play for a few years after the crash, its an inflation hedge against the destruction of fiat
and if timed correctly with the gold peak and real estate bottom you can make a nice profit over your lifetime

those urban people in thailand are fucked their entire economic existence is dependant on foreign tourists spending foreign currency there
now there is no tourism so those urban underclasses are worthless
even though thailand produces a foodsurplus watch their leaders trade it for foreign currency as their own people starve
their gold was the only thing that could save them and they sell it to stay in the city for a few more weeks rather than take everything of value and move out to their ancestral farm in the sticks

[Anonymous No.18476954]

>>18473301
I have 8kg gold 200 kg silver
Obviously these (very smart ) people who had gold as savings are only selling because they lost their jobs in the shutdown and converting gold (real money) to fiat currency to buy necessities.
The exchange Center has just run out of paper money is all. They will find plenty of buyers elsewhere.
What you are witnessing is real money at work like it’s been for 5000 years.

[Anonymous No.18477063]

>>18476946
Could not have said it better myself.

[Anonymous No.18477190]

>>18473301
I went in a few weeks ago to make my last purchase of gold. There I was sitting there with 50k in cash stacks and in the next booth over boomers were coming in with all their jewellery trying to cash in on these great selling prices.

[Anonymous No.18477339]

>>18475767
Don’t know, don’t care who you are, m8. We are all in the same boat here gambling on volatile speculative assets. You could’ve lost your stack on MtGox like I did, still may lose it. Don’t act like a big shot because you had more luck.

[Anonymous No.18477389]

>>18475767
>>>18475132
>lmao CZ personally asked me to invest in Binance and I did back in the days.
>You have fucking no clue who the fuck I am do you?
>>These newbies man...
>>>18475236
>I know, I am actually bit afraid all assets might crash in the second wave, that's why I have diversified these last couple of months but still not confident.

LOLOLOLOL CRASH IT THEN YOU PUSSY BITCH BOB SURPLUS FAT PACKS

LITERALLY

WHO

[Anonymous No.18477401]

>>18476946
That is true. The only thing I would add is that there is a different course of action in countries whose currencies are not strong reserve currencies. Instead of gold, people in those countries can keep their savings in a strong reserve currency (USD, CHF, EUR) instead of gold. When the shit hits the fan (Thai baht goes to shit, Indonesian rupiah goes to shit), the foreign currency maintains its purchasing power or ever increases its purchasing power while having fairly strong liquidity. Of course, this scenario only works if the reserve currencies themselves don't go to hell. However, it is typical that in a global crisis, the crappy currencies go to crap first before the reserve currencies.

For people living in countries that issue reserve currencies, gold is the ultimate reserve currency. You probably cannot conduct transactions using gold but possessing it protects the purchasing power of the fiat currency you do possess. As is likely in the case of this Thai story, you do not sell off all of your gold or silver for fiat to conduct transactions; you sell off a percentage. You keep the rest of your PMs because things can get worse and you don't want to be holding holding the fiat hot potato.

What is happening in Thailand makes a case for owning some gold in a paper form so that it can easily be converted to the necessary fiat. This can be through stock (GLD, PHYS, IAU, CEF, PSLV, etc.) or accounts with GoldMoney or BullionVault.

Also, what is happening in Thailand makes a case for owning silver in addition to gold. It's likely easier to conduct transactions using silver due to its lesser value. When selling PMs for fiat, silver's lesser value makes it easier to get smaller quantities of fiat. Unless you have very small bars or coins of gold, you'll be redeeming it for close to $1,700 at the 1 oz level (roughly a double eagle), $850 at the 1/2 oz level (roughly an eagle).

[Anonymous No.18477492]

>>18473301
>>18473324
>>18473397
>>18474045
>>18474109
>t. increasingly nervous FED chairman

[Anonymous No.18477572]

>>18477401
papergold is going to shit before the major fiat currencies as a retail holder you are absolutely bottom in line
real vault storage with goldmoney or bullionvault is a hedge against your own government confiscating gold or making the trading illegal but it is a very illiquid form

as with crypto not your keys not your asset
and only sell a bar of gold for an apartmentcomplex 5 years down the line
if you are smart you will be accumulating gold in the coming months because you produce necessities

[Anonymous No.18477719]

>>18474493
>>18475238
>>18475229
>>18475289
haha wow, JIDF's getting mad furious

>>18476946
based and ricepilled

[Anonymous No.18477770]

>>18477572
>papergold is going to shit before the major fiat currencies as a retail holder you are absolutely bottom in line
Only in a true Max Max scenario, which I do not believe would happen. If Max Mad is the future, it is far better to have guns and a lot of ammunition. Also, the paper gold instruments I listed actually hold physical bullion and are actually trusts. They are pretty safe ways to own gold. Having physical possession has its own different risks. It's probably best to own gold in multiple forms.

>real vault storage with goldmoney or bullionvault is a hedge against your own government confiscating gold or making the trading illegal but it is a very illiquid form
Not true. BullionVault allows you to sell the gold on either their own internal pool or the global pool and the proceeds can be wired to your bank account. Of course, if the SWIFT system goes down or credit cards stop working, you're right, it's pointless. GoldMoney seems to have a debit card or something that is backed by the gold you hold with them.

[Anonymous No.18477811]

>>18475247
underrated

[Anonymous No.18477814]

>>18473324
Must take days to write a shopping list!

[Anonymous No.18478060]

>>18477770
yeah this is pretty stupid
retail investors can be kicked out of the paper gold markets without repercusion while the big bank accounts get settled in printed fiat
performing this move actually saves the system and prevents mad max from breaking out so it will be used
at the moment no critical production chains are linked to paper gold price (or phyz for that matter) so simply shutting the markets down does nothing for mainstreet

bullionvault allows you to sell on their platform easily but then what is the problem
you need a transfer to your local bank and retrieve it as cash or credit while your government will want 98% taxes and that
as i said BV is a hedge against your local government and so fiat transfers over swift are a no go

[Anonymous No.18478381]

>>18473301
nobody wants stupid boomer rocks

[Anonymous No.18478439]

>>18478060
>retail investors can be kicked out of the paper gold markets without repercusion
It happens to big players, too. That's how the Hunt brothers got booty-blasted in the early 1980s. They had the bullion banks dead to rights; the banks were totally screwed because the Hunts were demanding delivery of physical silver bullion. A rule change was made, the banks were allowed to settle the difference in fiat currency, and silver crashed, taking the Hunt brothers down.

>you need a transfer to your local bank and retrieve it as cash or credit while your government will want 98% taxes
I also feel that such high taxes are an unlikely event. I don't have too much problem paying some taxes (it should be zero, though, because the "gains" are fictitious due to fiat currency depreciation). If the taxes become confiscatory, I'll either leave the country or find some way to sidestep the taxes. Being that there are a lot of very wealthy people who own gold, I'm sure there will be some way to avoid utterly bullshit taxes.

[Anonymous No.18478448]

>>18478381
> nobody wants stupid boomer rocks

[Anonymous No.18478478]

So should I buy gold or not?

[Anonymous No.18478661]

>>18473952
The point number one is prime example why gold is retarded as a medium of storage, the only way you can achieve this is by buying scrap. Any other way and you’re buying retail at an extreme high price

[Anonymous No.18479956]

This is why you SHOULDNT buy bars, or at least why bars should only be a percentage of your total PMs.

If you have coins (1oz, 1/2oz, 1/4 or even 1/10 of gold and the same in silver) you can liquidate the fractional stuff and it’s totally under your control.

With only or even mostly bars, you HAVE TO liquidate the whole thing if you want any money back. Only buy bars if you already have coins ideally fractionals coming out your ass

>b-but muh premiuminos

[Anonymous No.18479982]

>>18479956
Also don’t kid yourself into thinking one or two bars make you Fort Knox. If you’re so poor buying bars makes a large percentage difference in terms of how much you can buy, you werent really going to make it anyway.

[Anonymous No.18479993]

>>18473301
>bought 10 oz silver at premium 2 weeks ago
should i rope myself?

[Anonymous No.18480038]

>>18479993
Not unless you were so stupid as to not have cash too, as a buffer.

[Anonymous No.18480039]

>>18475238
If I chose to hold some of my long term savings (say 10% of my net worth) in physical pms, does that make me a dumb speculator? Asking for a friend

[Anonymous No.18480069]

>>18480039
No. At this point, I would say putting as much as 30% or even 40% of your income in PMs would be a good idea IF you also have cash so you don’t have to sell it all back to pawnshop kikes under spot like a chump to keep the roof over your head.

Basically use your brain and this shit is still a good idea.

[Anonymous No.18480110]

>>18480069
I’ve been DCAing in since 2008. I wouldn’t buy at today’s prices.

[Anonymous No.18480488]

>>18479993
It's a maybe $100 - $150 total in premium you paid which in the whole scheme of things is a mere drop in the bucket. No, you'll be okay but the silver price has to go quite a bit higher for you to comfortably hit a break even point. But meantime, that silver will protect you in the event of a currency crisis.

[Anonymous No.18480782]

>>18473397
So you are saying the market is not liquid enough?

[Anonymous No.18480924]

because deflation comes before hyperinflation