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Message Subject Gold buying advice to UK investor please (pro and con)
Poster Handle Useless Cookie Eater
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Sorry ought to add.

I am a pensioner on an income of £600 per month that leaves me about £200 a month after bills and expenses (although price rises and inflation are gradually reducing this figure)

I am worried about stories about gold price fixing and would like advice about that subject as well.

Many thanks
April
 Quoting: Anonymous Coward 33286937


1) Don't expect people to give you full value for your gold in a SHTF scenario.

2) Gold was confiscated in the 1930's Depression.
If you purchase it now, there will be records of those purchases and they will potentially use them to collect the gold....again.


"In 1933, at the height of the Great Depression, the U.S. Government, under the Gold Confiscation Act, confiscated gold money from its citizens and replaced it with paper Federal Reserve Notes. It became illegal for individuals to own gold, except for small quantities that coin collectors and dental practitioners could hold. This alone eliminated the public’s capacity to hold government inflation of the money supply in check; they could no longer redeem inflated paper money for gold."

[link to www.greatdepressiononline.com]
 
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