Elkski Posted January 11, 2020 Share Posted January 11, 2020 Good shop 22+ gold is not really suitable for jewelry. It's to soft. I am surprised the cost to fabricate the jewelry is so low. Gold store jewelry really is not very good looking up close. Rough finish. Jewelry store gold costs much more and is harder 18 gold. But I dont think poor thai women value it very much. Here is some 22 gold. Link to comment Share on other sites More sharing options...
ThaiBrian Posted January 11, 2020 Share Posted January 11, 2020 I can't tell you why others buy precious metals but I can tell you why I do... store of value and a hedge against the inevitable doom of fiat currency. In my grandfathers lifetime, the U.S. has had to revise the U.S. dollar 3 times? I believe the dollar was backed by gold at one time, then partially backed by silver(?), and now oil backed with threats from our military towards OPEC countries that go against the U.S. dollar? I started buying silver at $5 when burgers were 30 cents. The same burger is now $1.20 and the sane coin is now worth $20. What does that mean? I'm still paying 30 cents for a hamburger... whereas people who saved fiat currency lost 4x its value over the years... your money is being 'taxed'. 2 Link to comment Share on other sites More sharing options...
Brunolem Posted January 11, 2020 Share Posted January 11, 2020 19 minutes ago, ThaiBrian said: I can't tell you why others buy precious metals but I can tell you why I do... store of value and a hedge against the inevitable doom of fiat currency. In my grandfathers lifetime, the U.S. has had to revise the U.S. dollar 3 times? I believe the dollar was backed by gold at one time, then partially backed by silver(?), and now oil backed with threats from our military towards OPEC countries that go against the U.S. dollar? I started buying silver at $5 when burgers were 30 cents. The same burger is now $1.20 and the sane coin is now worth $20. What does that mean? I'm still paying 30 cents for a hamburger... whereas people who saved fiat currency lost 4x its value over the years... your money is being 'taxed'. The USD was backed by gold until 1971. Since then, it has gone all the way down, together with most other currencies, because humans being humans, they find it too tempting to create money at will when there is nothing to refrain them. And these last years, the debauchery has gone in full swing... trillions have literally been created out of thin air, and sooner rather than later the bill for this gigantic party is going to come due... 1 Link to comment Share on other sites More sharing options...
ThaiBrian Posted January 11, 2020 Share Posted January 11, 2020 6 minutes ago, Brunolem said: The USD was backed by gold until 1971. Since then, it has gone all the way down, together with most other currencies, because humans being humans, they find it too tempting to create money at will when there is nothing to refrain them. And these last years, the debauchery has gone in full swing... trillions have literally been created out of thin air, and sooner rather than later the bill for this gigantic party is going to come due... If we are ever close to electing a socialist president that promises free everything, I am going to put all my wealth into safe haven assets that the government cannot touch... and maybe some of it off shore. ???? But you are 100% right... Link to comment Share on other sites More sharing options...
Tounge Thaied Posted January 11, 2020 Share Posted January 11, 2020 The time to buy gold was right before the 2008 mortgage backed financial crash. Link to comment Share on other sites More sharing options...
Guest Posted January 11, 2020 Share Posted January 11, 2020 2 minutes ago, ThaiBrian said: If we are ever close to electing a socialist president that promises free everything, I am going to put all my wealth into safe haven assets that the government cannot touch... and maybe some of it off shore. ???? But you are 100% right... No one has ever suggested anything is "free." (Roads, hospitals, police, fire, space exploration, etc) What they HAVE suggested is the RICH and CORPORATIONS pay their fair share ... and that the Military Industrial Complex does not suck up money that could easily IMPROVE the lives of every citizen. Here, let's take the USA for example? Honestly, did you ever really give this issue any thought, or stop to understand you can't just cherry pick out the programs you don't like .. while enjoying the hundreds of "socialist" features and benefits to your world? Link to comment Share on other sites More sharing options...
Guest Posted January 11, 2020 Share Posted January 11, 2020 6 minutes ago, Tounge Thaied said: The time to buy gold was right before the 2008 mortgage backed financial crash. For Rent: Time machine? What the F are you saying here? BTW ... you for got to include "And sold it at its peak value." Clearly hindsight IS "2020" Link to comment Share on other sites More sharing options...
bkk6060 Posted January 11, 2020 Share Posted January 11, 2020 I see many Falang buying Gold for Thai females. I want to walk up to them and tell them how stupid they are. Link to comment Share on other sites More sharing options...
Jip99 Posted January 11, 2020 Share Posted January 11, 2020 2 minutes ago, bkk6060 said: I see many Falang buying Gold for Thai females. I want to walk up to them and tell them how stupid they are. The Farang might be stupid but the Thai certainly isn’t. I was stupid when I didn’t by missus gold @ 9,900 Baht.... couldn’t see it going over 10k !! Link to comment Share on other sites More sharing options...
ThaiBrian Posted January 11, 2020 Share Posted January 11, 2020 28 minutes ago, bangkokequity said: No one has ever suggested anything is "free." (Roads, hospitals, police, fire, space exploration, etc) What they HAVE suggested is the RICH and CORPORATIONS pay their fair share ... and that the Military Industrial Complex does not suck up money that could easily IMPROVE the lives of every citizen. Here, let's take the USA for example? Honestly, did you ever really give this issue any thought, or stop to understand you can't just cherry pick out the programs you don't like .. while enjoying the hundreds of "socialist" features and benefits to your world? I thought you and and possibly others would get the hint with the emoji at the end... I wasn't being serious. Who is they? The socialists? I don't consider myself to be a socialists and I would have to agree, our government spending is out of control. I'm not ignorant when it comes to this stuff, much of what you say is common sense to me at this point. Link to comment Share on other sites More sharing options...
Guest Posted January 11, 2020 Share Posted January 11, 2020 (edited) 27 minutes ago, bkk6060 said: I see many Falang buying Gold for Thai females. I want to walk up to them and tell them how stupid they are. Sort of wonder what business that is of yours? By the way .. every single birthday ... I take my Thai wife gold shopping. And think "Good .. unlike a pair of shoes, or the latest I Phone ... she will have this as her "fall back money" when I am dead and gone" Thai women hold onto their gold as long as they can, and will go hungry before they think of selling it. In may cases, it is their "emergency / last resort fund." My wife is the best person I ever met, and the day I found her, was my lucky day. It is an absolute joy to see here squirrel away her gold! Edited January 11, 2020 by Guest spelling error Link to comment Share on other sites More sharing options...
ujayujay Posted January 11, 2020 Share Posted January 11, 2020 Why is gold considered a global currency? Link to comment Share on other sites More sharing options...
Guest Posted January 11, 2020 Share Posted January 11, 2020 6 minutes ago, ThaiBrian said: I thought you and and possibly others would get the hint with the emoji at the end... I wasn't being serious. Who is they? The socialists? I don't consider myself to be a socialists and I would have to agree, our government spending is out of control. I'm not ignorant when it comes to this stuff, much of what you say is common sense to me at this point. You mean that little emoji in the body of the text? This is where we are now? OK. How about you and I part company now ... and I get back to adults who can complete full sentences? Link to comment Share on other sites More sharing options...
CharlieH Posted January 11, 2020 Share Posted January 11, 2020 reported troll comment removed and responses Link to comment Share on other sites More sharing options...
CG1 Blue Posted January 11, 2020 Share Posted January 11, 2020 Many years ago I was told the gold we see in the shops in Thailand is 'Thai gold', and that it's not the same as the gold we have in the west. I just assumed it must be some sort of alloy, and never really gave it much more thought. So all these years I've been mistaken?! I feel this is as bad as the 'never swallow chewing gum' or 'don't swim for 3 hours after eating' lies I was fed as a kid... ???????? Link to comment Share on other sites More sharing options...
CG1 Blue Posted January 11, 2020 Share Posted January 11, 2020 A Thai girl from my local area in Essex was telling me to get into the lending business for Thais. She said the Thais give you their gold as collateral, and you lend them say 75% of the gold value in cash. They pay 10% interest on the cash loan, and in many cases they end up cutting their losses and letting you keep / sell the gold. It's all a bit too cut throat for me, but those lenders must be raking it in! 1 Link to comment Share on other sites More sharing options...
swissie Posted January 11, 2020 Share Posted January 11, 2020 "I sold my gold @ 22,750 baht/bar and I was very surprised that many Thais were buying gold at 22,850 baht per bar." = This is called the Bid/Ask spread. Link to comment Share on other sites More sharing options...
Peterphuket Posted January 11, 2020 Share Posted January 11, 2020 On 1/9/2020 at 4:25 PM, Brunolem said: That's mostly because the baht has climbed so high... Against other currencies, the picture is quite different... Yoy forget one thing, if you buy gold in europe, in most of the countrys you'll have to pay VAT from 19-25%!! Link to comment Share on other sites More sharing options...
Peterphuket Posted January 11, 2020 Share Posted January 11, 2020 On 1/9/2020 at 5:06 PM, MikeN said: Yes, my SiL bought 2 baht of jewelry at New Year which went straight into her safe and will never be worn. So I am asking, why not buy gold bar instead ...the buy/sell spread on that is about one tenth of jewelry so much easier to make a profit. “No, always buy jewelry “ was the answer, no logical reasoning. And what you forget to mention, Thai gold is not 24 karat. Link to comment Share on other sites More sharing options...
swissie Posted January 11, 2020 Share Posted January 11, 2020 On 1/9/2020 at 10:25 AM, Brunolem said: That's mostly because the baht has climbed so high... Against other currencies, the picture is quite different... Every time one buys Gold one is also buying the US$. So, if your "home-currency" is not the US$ you are not only buying Gold, you are also buying the US$. Ergo: You are also entering a currency speculation. (Long US$, short your "home-currency"). Link to comment Share on other sites More sharing options...
Scott Tracy Posted January 11, 2020 Share Posted January 11, 2020 So many experts in the movement in price of gold and its intrinsic value. Gold will sell for what people are willing to pay for it and it's priced in USD on the world market. Variations in local currency will make its local price appear to go up or down, even if world markets are stable, which they rarely are. Thai gold is normally 96 plus % gold and the rest is alloy. This equates to 23 carats. It can be a good investment, with a farang outlook, but the Thais I have known have no why or wherefore about gold. Will buy when they have money, will pawn when they think they will be broke short term and will sell when long term cash is needed. Except when they think they need to change it. No rhyme or reason for that, to my understanding. But I'm farang and don't understand, according to the wife.... Link to comment Share on other sites More sharing options...
swissie Posted January 11, 2020 Share Posted January 11, 2020 1 hour ago, Scott Tracy said: it's priced in USD on the world market. Variations in local currency will make its local price appear to go up or down, even if world markets are stable, which they rarely are. Amen! Post #80. All said. Link to comment Share on other sites More sharing options...
swissie Posted January 11, 2020 Share Posted January 11, 2020 2 hours ago, Peterphuket said: Yoy forget one thing, if you buy gold in europe, in most of the countrys you'll have to pay VAT from 19-25%!! Not in Switzerland. Link to comment Share on other sites More sharing options...
Guest Posted January 11, 2020 Share Posted January 11, 2020 28 minutes ago, swissie said: Not in Switzerland. Annnnnnnnnnnnnnd here we are in the Alps ... what was the question again? "Why Do Thais Buy So Much Gold?" Link to comment Share on other sites More sharing options...
swissie Posted January 11, 2020 Share Posted January 11, 2020 1 hour ago, bangkokequity said: Annnnnnnnnnnnnnd here we are in the Alps ... what was the question again? "Why Do Thais Buy So Much Gold?" No VAT Tax may be part of the answer. (and this has nothing to do with "Alps" or "Jungle".) In Switzerland Gold is considered as an "Investement". (same as Stocks), therefore exempt from VAT. Same in Thailand. Not so in case of Silver. As Silver can be used in many forms of "industrial-use". Therefore subject to VAT, once "physical Silver" exchanges hands. Does not apply to Gold. Those rules may not apply in Eastern-Timbuktu. Thankfully, Switzerland is far away from Eastern Timbuktu. This is the "latest-news", originating from the "Alps" in relation as to "why Thai's buy so much Gold". Link to comment Share on other sites More sharing options...
keith7 Posted January 12, 2020 Share Posted January 12, 2020 (edited) Culturally, the time prior to Chinese New Year is one of the peak time for Thais buying gold. Typically within close relatives, gold , among cash is given in the red-packet (angpow) gift tradition. Edited January 12, 2020 by keith7 Link to comment Share on other sites More sharing options...
elgenon Posted January 12, 2020 Share Posted January 12, 2020 20 hours ago, SiSePuede419 said: At least they're not into gold teeth, like some guys in the Carribbean, mon. I remember when my Thai GF found out farangs have gold in their mouth (caps). I was afraid to go to sleep. 555 Link to comment Share on other sites More sharing options...
Brunolem Posted January 12, 2020 Share Posted January 12, 2020 17 hours ago, ujayujay said: Why is gold considered a global currency? It is not, it is a global store of value... Link to comment Share on other sites More sharing options...
Brunolem Posted January 12, 2020 Share Posted January 12, 2020 16 hours ago, CG1 Blue said: Many years ago I was told the gold we see in the shops in Thailand is 'Thai gold', and that it's not the same as the gold we have in the west. I just assumed it must be some sort of alloy, and never really gave it much more thought. So all these years I've been mistaken?! ???????? Thai gold is 96.5% pure, which is better than European gold (18 carats) , only 75% pure, or American gold (14 carats), only 58% pure. Pure gold is not used for jewelry because it is not strong /hard enough. Even the Thai gold will prove too soft if you buy a thing ring, for example, that will rapidly lose its shape... 1 Link to comment Share on other sites More sharing options...
Brunolem Posted January 12, 2020 Share Posted January 12, 2020 This recent article is not directly about gold, but gold is very much involved in its conclusions... https://internationalman.com/articles/an-empire-self-destructs/ Link to comment Share on other sites More sharing options...
.thumb.jpg.4fd22303fa94eb0a6ebf5a9cf7194eb4.jpg)
Recommended Posts
Create an account or sign in to comment
You need to be a member in order to leave a comment
Create an account
Sign up for a new account in our community. It's easy!
Register a new accountSign in
Already have an account? Sign in here.
Sign In Now