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  • Gold Is Not Money - It's Something Better [View article]
    Krugerrands dont have a fixed SAR value - and that is my point. Like any free floating paper currency the face value is not pegged it depends on the daily fluctuations of XAU (gold). If South Africa promises to pay you the SAR value of XAU for your krugerrands then isnt that legal tender?
    Jan 21 12:27 PM | Likes Like |Link to Comment
  • Gold Is Not Money - It's Something Better [View article]
    Maybe Im missing the point by reading the article too fast but I struggled to understand your statement that "...Gold is only money in transactions where the transaction is not allowed to take place with legal tender...". Is not for example the south African Krugerrand legal tender with the value of the at any time prevailing gold spot price?
    Jan 21 05:38 AM | Likes Like |Link to Comment
  • Gold Is Not Money - It's Something Better [View article]
    i struggle to understand your statement that "...Gold is only money in transactions where the transaction is not allowed to take place with legal tender..." can you elaborate on this as in my mind gold is money and gold is legal tender in various countries unless I completely have misunderstood their legal frameworks - the most commonly internationally spread legal tender being the South African Krugerrand I believe?
    Jan 21 05:29 AM | Likes Like |Link to Comment
  • Time To Pick Up This Premier Gold Miner At Multi-Year Lows [View article]
    Hello there, first off I hold both ABX and also NEM and a few others in the sector. Still, I have to ask, and maybe I am a bit cynical but any views on political risks in developed markets, beyond Africa, such as e.g. hiked targeted taxes (like the recent 'Aussie style' mine tax proposals) or even populistic moves by the US govt et al in any futher fiscal deteriorations, that might affect valuations?
    May 6 03:22 PM | Likes Like |Link to Comment
  • Is Gold Ever An Investment? [View article]
    Paulo, thanks for the article. Certainly brought out the comments!

    I hold shares spread around the world, high-yield intl bonds, cash in various currencies but preferably the likes of CHF, SGD, NOK et al, and I certainly share your implied penchant for cash flows but I also hold gold - physical and otherwhise.

    When you say 500 stores imply a problem - it can also be seen as a symptom of a strong demand for gold, rather than ominous supply, no?
    Also, it's no secret that western central banks are in the last few years back on the buying side along with those who want to preserve what they have. I'm a very happy owner of physical gold and will certainly add more as I go along. The problem with paper money, including 'stronger' currencies continues to be that most central banks resort to seignorage/money printing now, you have and will unless something miraculous happens continue to have negative real interest rates for a long time with Western economies drowning in debt (USA's most recent 6m deficit ran at over USD 775bn (!) if one agrees with CBO's estimate). Add to this taxation around the world. With governments coffers only filled with dust - what is more likely- lower or higher taxes? Aside from store of value (eg looking at historical purchasing power of gold) which is not taxed as opposed to interest on paper money, it also protects part of your assets from being eroded by ever more desperate politicians.
    Apr 13 09:52 AM | Likes Like |Link to Comment
  • Thailand, Indonesia And Peru Look Good Vs. Other EM Countries [View article]
    what do you mean with 'do it like the Vietnamese'? They almost whisper their devaluations through a megaphone to their state-owned enterprises as if to allow them preparation, the rumours swiftly moving on to the financial community at large from my experience. Have interacted with the financial participants from owners of corporations, private equity and fund managers to banks, brokers, the SBV and on occasion the finance ministry and I'm a bit surprised by your view? Then again, main story is about Thailand. It's a slow moving system thanks to their rigid approval system inside firms but can't say I have come across anything but professionals in Thailand - much savvier than the Vietnamese, and more stable economics.
    Apr 7 06:44 AM | Likes Like |Link to Comment