Open question - Financial
- Thread starter TeeDee
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Cash IS king for the quick deal or purchase that you can do if the seller is motivated. So can be useful - but not large amounts under the mattress.
I personally enjoy paying every penny of my tax so I make sure every time its recorded and the Taxman gets his due. < Render unto Caesar etc >
That is correct. I was attempting to word it in a way which might make it easier to understand for anyone reading this thread who is new to the concept of a currency losing its purchasing power being the reason for prices rising.
There was no disrespect intended towards TeeDee by what was effectively rewording and repeating his post.
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I just laughed because I found it funny. xThat is correct. I was attempting to word it in a way which might make it easier to understand for anyone reading this thread who is new to the concept of a currency losing its purchasing power being the reason for prices rising.
There was no disrespect intended towards TeeDee by what was effectively rewording and repeating his post.
Yes, the original meaning of the phrase 'cash is king' was having enough cash on hand to service short term liabilities/business operations, but today people use the phrase to literally mean that cash is kind over other assets, investments in companies, funds, qmmf's, sat in the bank earning interest etc. etc.
Gold broke £3000 this morning
I see Gold price as a way to understand the velocity of how quickly the fiat system is unwrapping.
Well butter my butt and call me a biscuit! Gold is starting to get some media attention as it passes the £3000/$4000 mark but unmentioned in the background silver is rising even faster than gold. It is almost 3 months since I first mentioned silver in this thread as an investment suggestion and already it is up by 37%. Not too shabby a gain for three months although I still think this is slow compared to what is coming next for silver.
As the global debt based fiat currency systems unravel and the threat of WW3 looms on the horizon gold is a good safe bet but expect silver to keep on accelerating upwards much faster than even gold will over the next 12 to 24 months.
Short term I would not be surprised if maybe we might get a temporary pullback and consolidation here for a little while as a few people take some profits but don't expect it to be long before the charge on upwards continues again soon. Next stop for gold and especially silver - the moon!
https://www.bullionbypost.co.uk/silver-price/3-month-silver-price/
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It will be interesting to see , when this all slows down - what the GSR will be.
If Gold continues and Silver follows suit in lock step or if there will be a narrowing of the difference between the ratio of them.
Interesting times.
Agreed and I expect you already know that for several thousand years the historical average for the gold to silver ratio is usually somewhere around 1:15 mark. Today we are currently at 1:82 so silver has a very long way to go yet before it reaches its historical average again. As you (and the Chinese proverb) say, "interesting times".
This meme is slightly out of date from when the GSR was up at a whopping 1:105 a few months ago but it still illustrates our point well.
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Can you buy silver as currency coins that are not subject to capital gains tax?
Yes - here.
First a disclaimer - I am not a qualified financial advisor and I do not give financial advice so check for yourself and do your own due diligence before making any decisions to invest in silver or anything else.
Now with that out of the way to the best of my knowledge the law in the UK is thus:
If you buy silver coins that were minted by the Royal Mint (such as 1oz Silver Britannia coins) you will not need to pay any capital gains tax on them if you sell later on. However you will have to pay capital gains tax if you buy any silver coins that were minted by anyone other than the Royal Mint.
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Similar but there are tax differences between various different gold and silver coins.
- Newly minted Royal Mint gold coins do not have either VAT or capital gains tax.
- Newly minted Royal Mint silver coins do have VAT but do not have capital gains tax.
- Second hand Royal Mint silver coins do not have either VAT or capital gains tax.
- Coins minted by anyone other than the Royal Mint will have capital gains tax and possibly VAT too.
As I said before I am not a qualified financial advisor so check this for yourself but to the best of my knowledge the above statements are correct. You may want to consider phoning an expert like Chards bullion dealer for any tax information regarding different types of gold or silver. I have no personal affiliation with them but I have bought from them in the past and been happy with their service. I chose them because they have been long established for many decades, they have a good reputation and their prices are lower than buying direct from the Royal Mint.
https://www.chards.co.uk/
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If its minted by the Bank of the Country it normally has value as Legal tender / Currency.
But yes - do your own DD.
Silver is still affordable and accessible but is known for being a little erratic from looking back at history - that being said currently we seem to be heading towards a financial intervention of some sort - how that plays out is anyone guess.
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