56 minutes ago, mogandave said:

 

Clearly it’s BS.

Switzerland importing 100 times their GDP in gold?

 

I am sure Switzerland's GDP is more than 900 million.

I am sure Switzerland's GDP is more than 900 million.

As am I, but the BS graph is in in US$1.000, yes?

2 hours ago, simoh1490 said:

No...you posted data you're declaring as fact, either post the link to support that it is else it's just another meaningless chart that a nobody drew and it's not fact and we can ignore it.....that's the way it works.

OK, I will go and do a websearch for "Worlds gold importers" and then post the result for you to read!!!!!!!!, https://www.google.co.th/search?q=worlds+gold+importers&rlz=1C1NHXL_enTH712TH712&oq=worlds+gold+importers&aqs=chrome..69i57j0.11238j0j8&sourceid=chrome&ie=UTF-8

OK, I will go and do a websearch for "Worlds gold importers" and then post the result for you to read!!!!!!!!, https://www.google.co.th/search?q=worlds+gold+importers&rlz=1C1NHXL_enTH712TH712&oq=worlds+gold+importers&aqs=chrome..69i57j0.11238j0j8&sourceid=chrome&ie=UTF-8

So your graph is off by a factor of a thousand....

Also, nothing is said about exports.

32 minutes ago, sanemax said:

OK, I will go and do a websearch for "Worlds gold importers" and then post the result for you to read!!!!!!!!, https://www.google.co.th/search?q=worlds+gold+importers&rlz=1C1NHXL_enTH712TH712&oq=worlds+gold+importers&aqs=chrome..69i57j0.11238j0j8&sourceid=chrome&ie=UTF-8

Seriously....posters want to know whether the alleged facts on any subject are real or not, posting something out of the Beano means it probably won't pass the sniff test, posting something out of the Economist or the WSJ means it probably will, you get the idea. And posters don't want to waste time trying to figure out where you got your alleged facts from or to see if what you posted was in context and complete hence it's a common courtesy, not picking on you on trying to upset things, just trying to make life easier for us all.

26 minutes ago, mogandave said:

 

So your graph is off by a factor of a thousand....

Also, nothing is said about exports.
 

 

Exports wasnt the topic , we are talking about imports

Exports wasnt the topic , we are talking about imports

So a point is made that China importing gold means it’s moving toward the gold standard, but the fact that they use over $300,000,000 worth of gold in iPhones that are exported is not important.

Interesting

27 minutes ago, mogandave said:

 

So a point is made that China importing gold means it’s moving toward the gold standard, but the fact that they use over $300,000,000 worth of gold in iPhones that are exported is not important.

Interesting

 

Maybe I misunderstood the post , but I though the point was that China are buying up all the Gold reserves as an investment , holding the gold because they expect the value to rise .

   Which wouldnt be the case, if China are buying gold to make products with

2 minutes ago, sanemax said:

Maybe I misunderstood the post , but I though the point was that China are buying up all the Gold reserves as an investment , holding the gold because they expect the value to rise .

   Which wouldnt be the case, if China are buying gold to make products with

It doesn't really matter what purpose the gold is used for, the reason they're buying it today is because they think it's going to cost more tomorrow and they need it today for whatever reason (investment/manufacturing and export etc). If indeed the purpose is to make phones for export they are still making a profit on tomorrows sales.

It doesn't really matter what purpose the gold is used for, the reason they're buying it today is because they think it's going to cost more tomorrow and they need it today for whatever reason (investment/manufacturing and export etc). If indeed the purpose is to make phones for export they are still making a profit on tomorrows sales.

So the fact that they’re buying it today because they need it today to manufacture iPhones and ever other phone and computer product the build today means nothing.

You must be a Trump supporter...

https://www.exportgenius.in/blog/gold-import-export-data-world�-s-largest-gold-traders-62.php

Just now, mogandave said:

 

So the fact that they’re buying it today because they need it today to manufacture iPhones and ever other phone and computer product the build today means nothing.

You must be a Trump supporter...

 

I didn't understand that.....I was merely trying to distinguish between buying gold for investment and holding it versus buying gold for manufacturing purposes and then exporting the end product - they both achieve the same end purpose in that a profit has been made and future costs avoided but one is an import and the other is an import that is exported again.

Maybe I misunderstood the post , but I though the point was that China are buying up all the Gold reserves as an investment , holding the gold because they expect the value to rise .
   Which wouldnt be the case, if China are buying gold to make products with

Exactly, so while Switzerland is the biggest importer of gold in the world, they are also the world’s biggest exporter of gold (as I think someone else pointed out) so what they are actually stockpiling is likely insignificant.

So what has all this gold talk got to do with us pensioners? And what happens if the baht goes to 38 to the pound.

Sent from my SM-A720F using Thailand Forum - Thaivisa mobile app

3 hours ago, simoh1490 said:

It doesn't really matter what purpose the gold is used for, the reason they're buying it today is because they think it's going to cost more tomorrow and they need it today for whatever reason (investment/manufacturing and export etc). If indeed the purpose is to make phones for export they are still making a profit on tomorrows sales.

We saw in the news this week why China is getting as much gold as it can. They are doing deals all over Africa and bypassing the dollar. This is the US's and world bankers' biggest fear. Significan global trade will see the end of the petrodollar. The US military is funded by the petrodollar.

 

Switzerland acts as a broker for much of the world's precious metals. Trillions are traded each week; but most of the precious metals never move anywhere.

 

Recall the uproar when Germany told the US that it wanted to look after its own gold and asked to have it sent over?!

 

BTW, I don't believe the US has any gold stashed away of its own.

We saw in the news this week...

Got it

old topic I know but....I don't think that Brexit has much to do with the rise of the Baht...Aussie dollar has also sunk as much as the pound

3 hours ago, mrloy99 said:

old topic I know but....I don't think that Brexit has much to do with the rise of the Baht...Aussie dollar has also sunk as much as the pound

Pound lost 20% in the same time Aussie dollar lost 30%.

Canadian dollar, Euro and Norwegian Krone ain't doing so well either.

Pound lost 20% in the same time Aussie dollar lost 30%.
Canadian dollar, Euro and Norwegian Krone ain't doing so well either.

Brexit is taking the whole world economy down!!!

1 minute ago, mogandave said:

 

Brexit is taking the whole world economy down!!!

 

(Apart from Thailand )

33 minutes ago, BritManToo said:

Pound lost 20% in the same time Aussie dollar lost 30%.

Canadian dollar, Euro and Norwegian Krone ain't doing so well either.

In relation to the Baht it isn't so much that these currencies have fallen, rather that the Bahts value has increased

18 minutes ago, mogandave said:

 

Brexit is taking the whole world economy down!!!

 

Trumpenomics is taking the world economy down, Brexit is a side show.

5 hours ago, mrloy99 said:

old topic I know but....I don't think that Brexit has much to do with the rise of the Baht...Aussie dollar has also sunk as much as the pound 

Maybe Australia is leaving the EUSSR as well.

On 8/17/2018 at 12:48 PM, KiChakayan said:

"The lowest UK pensions come from the North East of England where they get on average, after tax, £269 a week."

So UK's got its Issan?...

  That explains why many UK , expats live in Issan , with their kindle .. 

 

 

On 8/17/2018 at 1:11 PM, Joinaman said:

lowest pension of 269 pounds ?

most people i know, me included, get the state pension of 164 pounds

 

 

 Really ,  bad career  choice ,  you should have been in the civil service . 

  Live like a king, in LOS ..

 

 

On 8/17/2018 at 1:35 PM, robblok said:

Whenever I read about the pound and Brexit I imagine Mel Gibson waving his big sword and shouting BREXIT. (i know the Guy is American and the movie is about Scottish freedom). Anyway that image always comes up to mind.

 

I wonder how many of the Brexit supporters (expats) would still support Brexit at 38 to the pound.

Mel Gibson is American?

11 minutes ago, elliss said:

 

 Really ,  bad career  choice ,  you should have been in the civil service . 

  Live like a king, in LOS ..

 

 

Many people like me get far less than 269 pounds a week.

12 minutes ago, White Christmas13 said:

Mel Gibson is American?

I always thought he was from Oz meself, but what do I know?

5 minutes ago, billd766 said:

I always thought he was from Oz meself, but what do I know?

yes he is Australian but lives in the US

10 minutes ago, billd766 said:

Many people like me get far less than 269 pounds a week.

 

      I know the feeling  mate , 

       How  can we buy gold on our pension , i can barley afford to buy bread .

        Fyi ,    bread on discount  at big C, after 8 pm, see you there for a cuppa.