Lost in LOS Posted December 10, 2011 Share Posted December 10, 2011 let's stop the bullshit fairy tales. gold does not provide or buy anything unless one exchanges it into currency. the bullshit fairy tale spread here is that one can hold gold and manage without income or without selling/converting gold into currency. spreading that bullshit fairy tale has to stop. two plus two equals four, not five-point-five. period! Seriously Naam....you can't buy anything with CHF either in Thailand unless you convert it into THB. You are correct...you can't buy anything with XAU in Thailand unless you convert it into THB first. There is no fairy tale being presented here except the one where you try and arbitrarily differentiate between one currency and another using definitions which are specious at best. If XAU is not a currency, then neither is the USD as far as Thailand is concerned. we are discussing something out of context Greg. i referred to "Old Wanderer" who changed some years ago a million Baht into gold and then a part of it in silver coins which his wife uses once in a while to play with. his posting indicates that he still owns the precious metals he bought then. therefore my [indirect] question was "who paid for all his expenses during these years? the LORD? or did 1mm Baht (~25,000 US-Dollars some years ago) converted to gold yield enough appreciation to cover several years of expenses for a family?" silly, he meant his landlord told him to buy gold GregB has answered this question with an elaborate essay. too lazy to search for it. but if i remember correctly then the LORD is not involved in the scheme he described how to make a living with the proceeds of physical gold. involved parties were mainly Messrs. Assumptions but not Mrs. Logic. Link to comment Share on other sites More sharing options...
gregb Posted December 10, 2011 Share Posted December 10, 2011 let's stop the bullshit fairy tales. gold does not provide or buy anything unless one exchanges it into currency. the bullshit fairy tale spread here is that one can hold gold and manage without income or without selling/converting gold into currency. spreading that bullshit fairy tale has to stop. two plus two equals four, not five-point-five. period! Seriously Naam....you can't buy anything with CHF either in Thailand unless you convert it into THB. You are correct...you can't buy anything with XAU in Thailand unless you convert it into THB first. There is no fairy tale being presented here except the one where you try and arbitrarily differentiate between one currency and another using definitions which are specious at best. If XAU is not a currency, then neither is the USD as far as Thailand is concerned. we are discussing something out of context Greg. i referred to "Old Wanderer" who changed some years ago a million Baht into gold and then a part of it in silver coins which his wife uses once in a while to play with. his posting indicates that he still owns the precious metals he bought then. therefore my [indirect] question was "who paid for all his expenses during these years? the LORD? or did 1mm Baht (~25,000 US-Dollars some years ago) converted to gold yield enough appreciation to cover several years of expenses for a family?" GregB has answered this question with an elaborate essay. too lazy to search for it. but if i remember correctly then the LORD is not involved in the scheme he described how to make a living with the proceeds of physical gold. involved parties were mainly Messrs. Assumptions but not Mrs. Logic. Let me briefly explain it again then since you seem to have a difficult time understanding basic math. Perhaps the reference to Mrs. Logic is because only your wife understands these simple things? It is quite possible to make money on physical gold or any equity that appreciates in capital terms vs. yielding dividends. Imagine a radioactive substance. It has a half life and continually gives off radio active particles. It never runs out. The rate of decay is governed through a simple ordinary differential equation, namely that the amount given off is proportional to the amount remaining. That is the basis of the model. Now imagine gold ounces flying into your pocket as the result of radio active decay of your stack, again with the number of ounces being directly proportional to the ounces remaining. The rate you can remove ounces from your pile slowly decays over time. But if the value of gold in fiat terms rises faster than your decay rate, your gold pile continues to increase in value in fiat terms, while simultaneously giving off an income stream that also rises in value. The key is that the rate of increase in the value of gold has to be greater than your expenses, just as with a dividend yielding asset the amount of the dividend has to be greater than your expenses. They are mathematically equivalent. There is no difference between an asset that appreciates only in capital, and an asset that turns its capital appreciation into dividends, or an asset that is a combination of the two. The distinction between them is arbitrary. So in answer to your question, and since gold has been rising at the rate of around 17% on average for the last several years, if his expenses were less than $4250 per year, then his expenses can have been paid by an investment of $25,000. If not then he would be eating into his capital, but that is no different than investing a stock that yielded a 17% dividend and being forced to eat into capital. They are identical situations. Link to comment Share on other sites More sharing options...
Naam Posted December 10, 2011 Share Posted December 10, 2011 The key is that the rate of increase in the value of gold has to be greater than your expenses, just as with a dividend yielding asset the amount of the dividend has to be greater than your expenses. and that's where the Assumption family of the proverbial milkmaid and the arbitrarily selected time frame "for the last several years" kicks in by conveniently bypassing the fact that for more than 25 years before that period Gold yielded nada, zero, nothing, niente, zilch, nichts, muffat, mafeesh, rien. Gold didn't even yield a single inflation-adjusted copper penny when adding the last several of truly excellent performance to those 20 years mentioned above. Link to comment Share on other sites More sharing options...
christianshearer Posted March 29, 2012 Share Posted March 29, 2012 This shop sells .999 gold bars with certificates at a very competitive rate. Ausiris Group http://www.ausirisgroup.com/index-en.php also I just met a silver jeweller who recommended buy 100% silver at this shop, but I don't think it would have certificates: (have never been) Lee Khun Hua 171-7 Banmor Rd Wangburapa, Panakorn Bangkok 02-2227709, 02-2211567 I hope that helps Link to comment Share on other sites More sharing options...
jji23 Posted April 3, 2012 Share Posted April 3, 2012 Does anybody know a good reputable place to sell silver bullion? Link to comment Share on other sites More sharing options...
bangkokburning Posted April 3, 2012 Share Posted April 3, 2012 Just curious fearmongers...what is going to happen to Thailand that you will need to trade gold for your McDonald's? Thailand is surrounded by a number of countries with worthless currencies. Myanmar comes springingly to mind. If people will accept a currency like Kyat. They will accept THB till the cows come home. As pointed out, in Thailand you would still need to convert into the presumed to be worthless currency OR trade it straight across for goods. With the smallest bit of gold being worth 1000s of baht currently, that is going to be a very complicated endevour. All of you gold bugs might want to find a wife to cook up all the food items you are going to be buying because KFC and Nana Plaza will not be giving change in gold. 1 Link to comment Share on other sites More sharing options...
bangkokburning Posted April 3, 2012 Share Posted April 3, 2012 (edited) To Naam's point - My uncle is a big gold bug but he invests in it when he has extra cash on the side and when it is hugely out of favor. When it is run up sufficiently, he dumps it. All of it. Then waits for it to tank again, then buys it back. He has done this two times in his life and waiting for sell it off again. Now everyone is hot on gold. For investment, for fear, for whatever. Its a sucker's play. he only people that should be in gold at this price oint are those with so much money they dont have anywhere else to put it. Those people that are willing to lose 25% to be invested in a hard, tangible "world" asset. Thailand knows few of these people, but there are far too many people in this world that think nothing of paying 30-40% to protect them from a potential world currency disaster. They know in the end - its all just worthless paper. BTW - where would you be if you bought silver a year ago. WAY down... Edited April 3, 2012 by bangkokburning Link to comment Share on other sites More sharing options...
paulbangkok1 Posted December 5, 2012 Share Posted December 5, 2012 I have some 1oz silver coins and bars for sale in Bangkok. I have U.S. Eagles, Stagecoach Bars, Sunshine Mint etc. See my Thai Visa Advert in the classified section for details as i cant post link here. Or call me on 08-900-56-911 Link to comment Share on other sites More sharing options...
ThaidDown Posted December 15, 2013 Share Posted December 15, 2013 There is a mint in the Charoen Khrung Road where the jewelry manufacturers buy gold and silver granules or bars. I bet you can obtain 24 K granule gold there, just any weights you order. It is the official Bangkok mint. I don t know the exact address, but it is not far from Yoo Lim Gold & Silver , about 25 -50 meters Address is Bangkok Assay Office Co. 1230-1232 Charoen Krung Rd, Bangrak,Bangkok 10500. Old Telephone no. I have is 02 - 233 7639 (may be out of date) Link to comment Share on other sites More sharing options...
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