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Strategies & Market Trends : Strictly: Drilling II -- Ignore unavailable to you. Want to Upgrade?

To: isopatch who wrote (19259)	9/19/2002 3:30:04 PM
From: Jim Willie CB	Respond to of 36161

Daily Reckoning reports that in Russia, the Euro currency is being pursued as the Dollar is being traded in also, Gold is being bought with Dollars the Russian Govt is apparently trying to slow these transitions I remember learning years ago that the Russian Black Market is the biggest in the world one can hide $1000 in the form of three coins very easily and $100k in the form of 300 coins almost as easily but they are difficult to break into smaller denominations hey Ivan, do you have change for an Americanski DoubleEagle? / jim

To: isopatch who wrote (19259)	9/19/2002 3:51:03 PM
From: Louis V. Lambrecht	Respond to of 36161

Iso - Brussels is ranked 7th or 8th as a market for gold. First or second for diamonds. Has to do with an "arrangement" with the IRS: gems and precious metals transaction are tax free (no VAT or whatsoever). The gobblernement had an easy choice: face the trade to search for better places or be accomodative. This was no choice really . ROFL. Better keep these transaction at home, even untaxed. <vbg> Munters is a well known outlet and provides official quotes for many exotic currencies. They are ocated just behind the Bourse of Brussels (now electronic Euronext) near the Grand'Place. They act as wholesalers for most other bettern known outlets (many New York jEWISH PM banks trade with Munters, that suitcase anecdote is real). Best trade ITEM is the UK Sovereign. Well known weight, no collectors premium. No matter if they ar "circulated" or not. Plain weight. And qty. discounts: sell price nearing the buy price. Gold coins are commodities, like any other. And as in any business, you have to build up a relation. Incidentally, ingots are better prices at the local Johnson Matthew agency. Just walk in in the office and make your trade. Walk over the middleman, always. Although, incidentally, an advisor of my bank tipped me for another wholesaler also in Brussels. He wouldn't ever take the risk to tip his "afterhours" customers for exotic coins as Krugers, Maples or Eagles. <g> Note that the common hamstering coin in gold loving states are the Napoleon, Vrenellis or Louis on which a premium is paid. (I agree the market would be different on the other side of the pond and would need some DD). OTOH, we have other bullion banks advertised as such in the Yellow Pages. Nice modern offices, expresso cup and cakes, account executives with recent company cars,.... and premiums to metal prices. Well, some people buy stainless steel "sterling" jewelry at Macy's I've heard.