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

To: A Horse With No Name who wrote (43176)	11/27/2008 5:24:28 AM
From: TobagoJack	Read Replies (1) \| Respond to of 217765

just in in-tray, from a moolah manager who had e-mailed me a few days ago, poopoo-ing my claim that no monetary gold is available in hong kong for purchase at current price from market makers (he had done so by making a phone call to Bank of China and the bank responded they could deliver tael bars (1.2 oz wafers) on 2 days lead time. Have been listening to you talk about lack of physical gold in HK but even three weeks ago BOC was saying that one could buy a couple of hundred teals if one wanted to … dropped by this afternoon to check again and they said they have completely sold out. Normally they then suggest that one can put ones name on a list and they will call once they get deliveries… this time around they said “no bother… don’t know when we get some more…” shit … HK out of physical gold? Suggested I buy a gold book… not the same thing though is it … are you still able to get coins somewhere?… not that I am a major gold bull but this is spooky… LOL Tobagojack's response hello michael, do not fuss and run all over town to hunt for ever more precious gold, because none is available. the panda gold bullion distributor (china great wall coin, an arm of PBOC) has no supply, and is now waiting for allocation of 2009 mintage around mid-december. i have loaded up several times since the beginning of 2008 and each time except for january / february, i was single-handedly responsible for cleaning out their paltry stock as they got replenished. my september and october trips were met by buyers ahead of me, and buyers behind, in the same foyer, and the folks behind had to leave empty handed. the time i bought for your nancy was successful only to the tune of 13 coins before stockout. hang seng bank hq distributes maple leaves, eagles, koalas and philharmonics, and it is out of every 1 oz size coin, and the staff told me they expect to have coins only to the extent that people sell them back, and some of the sell-backs would be scratched. australia and usa mint stopped mint sales effort due to high demand (yeah, figure that, stopping sales due to demand - certainly an unusual merchant). canada mint is on two weeks delivery cycle, supposedly, as informed by my dental biz partner in vancouver. one friend who is client at LGT and another who is client of UBS got severely discouraged to take physical delivery of bars in HK. Unusual, especially because the first pal is worth .5 billion. Saying no to customers seem to be in vogue. there you have it ... no gold, the physical, even as paper gold struggles to hold level. It reminds me a bit of the paper panamax dry bulk trading which swung the physical shipping market around, until the paper market failed. In the case of boats, the prices collapsed 90% within the past 11 months. when the paper gold market fails, i would expect either (i) the central banks to offer up their physical to the market of strong-hand buyers, including the central banks of, oh, say china and saudi arabia, or (ii) gold price to rise and rise without regret and no looking back, else the history of gold has ended, and paper + ink is not a commodity combination. the silver market may be more interesting than gold, given its wilder volatility and broader affordability. so barbaric, for us to be discussing metals, especially gold, given that it has no particular use except as money pretender :0)