Fool's Gold?

[Timebandit]

I believe you're being unreasonable. Call your Swiss bank. Tell them you are flying there to collect your gold and ask what you will receive. Be careful and don't fall off your bar stool.

Edited June 18, 2018 by Timebandit
spelling

[Justfine]

Guys living in cheap condos are experts on investing. Heard it all now.

[Tacuisse]

Gold is not an investment. It does not produce any return, apart from being a hedge against currency devaluation caused by money printing.

In Thailand, buying gold is easy. Many shops don't ask for identity papers. I've found it's even easier to sell.

The 6-7% return produced by bank stocks is of little value if the share price has crashed by 20%, as has happened in Australia.

Provided the OP keeps his mouth shut, a 10 baht bar of Thai gold ( 200,000 baht approx. ) is easily concealed. No need for safety deposits, which cost more than they are worth.

I usually buy at the big shops in the shopping malls, as they are not fly - by - night operations. I shop around when I am selling.

[Hummin]

1 hour ago, Timebandit said:

I believe you're being unreasonable. Call your Swiss bank. Tell them you are flying there to collect your gold and ask what you will receive. Be careful and don't fall off your bar stool.

If you have a safety box and you put gold in it, you will get swiss franc? 

 

You have to get us some links for your statement. 

Edited June 18, 2018 by Hummin

[Timebandit]

That's a possibility. Not a policy.

[Timebandit]

You believe Main stream news? Can you please define a reputable source.

[Ks45672]

21 hours ago, Justfine said:

Guys living in cheap condos are experts on investing. Heard it all now.

Not all condos are cheap lol.... 

I have neighbours who drive ferraris, lamborghinis and porsches..... 

[digbeth]

Lots of trading company and even banks now let you have a gold account where you buy in a share of the fund that's indexed to gold price, you only need to hold the paper, but some company lets you 'cash out' in bullion too.

 

The bank funds only seem to be a fund that invest in 99.95 or 99.5% gold that's probably indexed with international price

 

The (Thai) gold company trade in Thai 96.5% gold and Thai price

 

The Thai gold companies match the gold shop price, I think one is the gold traders association themselves, when you buy the gold on paper, at least they don't charge the 'premium' to buy and sell like in the physical shop, and you can cash out with real gold, they have branch all over the country just like gold shops.

The ones I know are Ausiris and Hua Sen Heng

[sangtip2]

On 6/18/2018 at 11:44 AM, Justfine said:

Ironic given your comments indicate you don't understand what a good return is.

 

There are bank shares yielding 6% and 7%.

 

Educate yourself.

And you can lose everything buying bank shares .   Nobody has ever lost everything buying gold  . 

[Justfine]

59 minutes ago, sangtip2 said:

And you can lose everything buying bank shares .   Nobody has ever lost everything buying gold  . 

Big banks run the world.

[swissie]

On 6/18/2018 at 10:34 AM, Oxx said:

 

But Google doesn't give any reference from a reputable news source of any such event.  Not one.

 

The story appears to have originated with an unsubstantiated and unattributed tale at https://kingworldnews.com/major-alert-greyerz-warns-swiss-bank-says-it-will-no-longer-hand-over-clients-physical-gold/ and repeated elsewhere.

 

There is not a shred of hard evidence that any such event ever happened.  And if it had, you can be sure the mainstream financial press would have been all over it.

 

In other words, it didn't ever happen.  It's a fairy story.

 

 

Exactly. If this would have happened , it would have made major headlines and there would have been blood in the streets of Switzerland. Fake news.

Exeption: By investing in a "Gold-Fund". Of course it will be paid back in form of paper-currency, (yesterdays closing price).

There is not enogh gold around to satisfy Gold Certficate Holders with actual physical gold. (Oversubscribed by a factor of ?????????)

Remember: All the gold that has ever been mined so far represents a cube of 20 meters long, 20 meters wide and 20 meters high. That's all. The size of a decent 2 story home with a small garden in front. That's all.

So, unless you physically have gold, you don't have it.

Cheers.