/pmg/ - Precious Metals General

I am once again bringing up the Texas exchange by BlackRock and Citadel since it's relevant to precipus metals. Something about the state has no capital gains on precious metals, so they want to swap assets and profit
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Here's a screencap. At the end of the day there's nothing anyone can do when it comes to suckers, just inform and move on.

I wonder what the science is behind gold coins making a beautiful ringing noise and tungsten sounding like a rock

Damn, I didn't watch the video. I wonder what that means for precious metals in general.

Edition?

It means nothing if you hold it. Tokenization is basically another word for derivative. You beat it by not having any counter party risk.

The whole world is moving in this direction anyway and is basically what BRICS is doing where every country has a basket of assets (gold/fuel/food/national currency) that are then measured in a BRICS Unit. There will be percentage limits on what can be in these asset baskets to make sure no nation is scamming or taking unnecessary risks by only putting one commodity in their basket.

What I find fascinating about BlackRock and Citadel is that they're effectively moving business from New York to Texas. Gonna be interesting to see how fucked up New York becomes when the big boys leave, might become a modern Detroit.

might become a modern Detroit

I think most of NY is already there...

no gold backed currency in the world currently?

Can anyone explain why this hasn't been done yet on the private side? I understand why fiat is preferred by nations, but the private side of markets?

inb4 bitcoin, because bitcoin isn't that. Why haven't true gold or commodity backed crypto projects really taken off? It seems like, if people are going to push crypto, like a gold-backed token would be a reasonable thing for them to stand behind. Why is it just BTC with any real "value" out there?

Also, I already believe if you can't hold it, you don't own it, I'm just wondering why an electronic version of a gold backed fiat hasn't yet been dominating in the same way crypto and stocks/bonds have been. I understand BRICS is commodity based, sort of, but a little confused why block-chain based gold coin hasn't been more supported/developed.

Gold euro spot at ath and heading up.

What is the highest price per ounce you have ever paid for silver? What's the lowest?

How BRICKS gold backed currency doing? We have been hearing about it for almost 20 years now

Cant wait for the British sovereigns to go back to yellow gold in 2026

can't get a job

shiny stack not making me rich

Come on, do something

Question is will you be able to afford one by then.

ITS REALLY HAPPENING THIS TIME. MORE CENTRAL BANKS TRADING WORTHLESS FIAT FOR GOLD.

has Zimbabwe transitioning back to the gold standard had any immediate positive effects?

It’s called density, sweetie. Look it up.

If the average Zimmer cant go into a bank and trade a note for physical Gold then it isn't a Gold Standard.

How does it work then? It is similar to how it was before Nixon?

How does it work then?

It doesn't.

government tells its people the money is backed by gold but you cant come in and trade it for said gold so just trust us ok

I give them another year before they'll be on to the next zim notes.

Well thats bullshit. And to think I thought this would be the first domino.

I believe that would be density.

Just imagine the wonderful

BOIIIIIIING

sound that very dense subcritical plutonium falling from the sky would make when landing on streets of Moscow.

Im honestly not sure. My main question is about Gold purity in the future. Should the average joe gold buyer buy the highest purity coins/bars available or stick to the old method of buying your local government coins? If gold is revalued to a much higher price and or the price keeps mooning, is it better to have 24kt coins or 22kt. Will higher purity coins be more desired as gold goes higher and higher? Meaning maples and britts will have more value than 22 karat sovereigns and eagles in the future? Tax implications might be easier on 24kt bullion coins also.

has Zimbabwe transitioning back to the gold standard had any immediate positive effects?

Everything has been quiet since the release of the Tunya.

What you are asking about is

Shall I buy silver bullion?

they are too busy printing more

Cant wait for the British sovereigns to go back to yellow gold in 2026

I wonder what shade of gold they will go for seeing as they won't be 24ct.

Also when did the sovereign go rose gold?

I AM LEAVING AMERICA OUT OF FEAR OF MY LIFE!!!!!!!

youtube.com/watch?v=MjFhoJd1X9I

since War of The Roses

lemme guess, to Russia? xD

an small island i think

I just found out, it was 2017.

aym leevin amerika coz federal gubbermint is printin da manee

Bsically like every other gubbermint on the planet

if this is you making these cringe videos, they really are pathetic and unfunny. Its like a sad middle aged man with no family or friends and nothing to do with yourself. You are really grasping for attention. Your life has culminated in making pathetic little videos in a desperate attempt to maybe get a comment from some anonymous npc who watches. If you are making these videos you should really stop. Also seek mental help because you are probably going to end up suck starting a 12 gauge if you don't see a professional soon. If you do end up KYS, please upload it to youtube. Then you would have created something that is actually funny

I wonder what shade of gold they will go for seeing as they won't be 24ct.

There wont be any shade, they'll look the same tint as a Gold Kruger, probably the reason why they went with the rose gold finish as 22kt has more of a copper look, which also suggests to me the reason why they are going back to the 22kt look as they dont want british people buying gold anymore.

I don't understand why people buy sovereigns anyways. Just buy a beautiful 24 karat britannia instead

Gold and tungsten have nearly identical density. More likely a result of the dramatic difference in stiffness.

Pure gold is too soft for circulation. It's the same situation with silver which is why sterling silver is a thing.

If gold is revalued to a much higher price and or the price keeps mooning, is it better to have 24kt coins or 22kt.

You have to take into account you'll be dealing with normie npc's who have been brainwashed for the last century to stay away from metals and that in a trade/barter system if you are buying something off them it will be easier to tell them that you have a pure gold bar/coin instead of having to explain 22kt to them and how its 91.6% gold and how much gold is actually in that bar/coin which could make them unsure or nervous about doing trade with you.

Purity is always better.

The problem is that a gold-backed currency takes away the government power to create money. No government wants to give up that power. But in order to have a single currency for the coalition, they MUST have a limit on the printing presses of the individual nations. And the BRICS don't trust each other. So for now they are trading in their own currencies which float in value against each other. That is not going to replace the dollar. If they really want to replace the dollar, they must either adopt a gold-backed currency or submit to a central authority that controls the issue of a joint fiat currency like the Euro. Submitting to a central authority is going to be nearly impossible for them politically. So it will either be gold or nothing.

Gold isn't really for "circulation." It's a reserve asset. Silver is a circulation metal.

that's ahistorical but ok