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Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum -- Ignore unavailable to you. Want to Upgrade?

To: TobagoJack who wrote (37805)	8/1/2008 10:51:56 AM
From: elmatador	Respond to of 217842

there's an infrastructure for accepted means of transactions. That infrastructure cannot be adapted to accept physical materials. I work for a number on a piece of paper. My employer sends an order -over an electronic infrastructure onwed by banks- to take a number and make appear in my bank account here. Bank here informs my wife that there is a number there. She proceed to send -over the Internet- orders to take from that number and add to other numbers of people and firms that price services to us. (Copel for electricity, Sky net for satellite TV, Sanepar for water and sewage, Brasil Telecom for fixed telephony, TIM for mobile telepohony, Condor supermarket for groceries, ISC for school services... Then she writes checks or draw money in an ATM for gasoline, DVD rental, bread and milk, newspapers, movie tickets, dentists' fees and for maid who clean house once a week. Gold is a cumbersome mean of transaction. It was replaced by other accepted means of transactions, exactly because there was not an infrastructure that could efficiently make it change hands. The problem we have right now, is a the monopoly on the main accepted mean of transaction, the USD. Therefore we need that meeting I keep talking about. Boot minnows out. Get big boys to decide on the new world economic order.

To: TobagoJack who wrote (37805)	8/1/2008 3:00:42 PM
From: RJA_	Respond to of 217842

>>workable for large transactions: take delivery of gld in ny in own name, sign over via escrow law firm, transact, re-register in hk, sell via escrow law firm, take cash in any form Since there are no paper certificates issued for GLD, I assume by "take delivery" you mean having the shares on the books of the DTC listed in your name or your attorneys name. I have personally tried that and was told by my broker it was not doable... but that may be because there are not enough 000's involved... <grin>. As far as re registering in HK, not sure why, still an electronic "book" entry (unless somehow the HK shares are different)... If you are successful in registering in your name at the DTC (or what ever the equivalent in HK), I suppose you could also register the name of your customer after your sale transaction was completed. All a bit too cumbersome IMHO and still leaves a paper trail, attorneys fees, etc. If you really want to deal in zeros you could become an "authorized participant" and deal in baskets of 100,000 shares (10k ounces)... and get direct delivery of gold in London... all of which seems (including the above) a little too impractical... when you can just go down to your coin dealer and simply take delivery without the brokers, paperwork, trip to London, messing with the attorneys, re registering the book entry shares, etc., etc. Now if you really want something that might serve as a currency, paper shares in the Central Fund of Canada can be requested from their transfer agent... according to folks that answer the phone at the Central Fund. I did not ask if they were bearer shares, or if they had to be issued in some name or other.