I guess they got tired of it. There are bogleheads who hold gold, but they do it more quietly now.
Edit: you might see some familiar names in this thread:
https://www.bogleheads.org/forum/viewto ... &start=200
Moderator: Global Moderator
I guess they got tired of it. There are bogleheads who hold gold, but they do it more quietly now.
Strange. You didn’t choose an obscene name or anything?
Well, you always have a home here
seajay wrote: ↑Fri Apr 12, 2024 6:14 pm I suspect that the paper-gold to physical gold ratio will further increase from recent 122:1 levels. Looks like a big buyer, 100Bn, perhaps Russia, buying 1500 tonnes of physical gold, via Options (expiry settlement in physical gold rather than cash). With current sanctions those trades being applied via third parties (Zimbabwe ?). Not the more usual large trades at the gold fix time(s) that is more common with state level trades. Perhaps in response to the US looking to seize 300Bn of Russian owned US treasury's. The Option writers will be in panic trying to secure the physical gold prior to Option expiry, so some price (rigging) volatility is likely over coming days/weeks. Ultimately with more paper-gold having been created out of thin air. That will increase Russian gold reserves from 3000 tonnes to 4500 tonnes, but more importantly be in the form of physical gold.
Could become a recurring weekly game, he who has physical in their own vaults is king in a world where there's >100 times more paper gold than physical gold.
The whole ETF is a mystery to me as to how any of them are backed up by anything? Do they actually own all the stock or whatever the same way a mutual fund does? I have never owned an ETF.Xan wrote: ↑Sun Apr 14, 2024 2:56 pmseajay wrote: ↑Fri Apr 12, 2024 6:14 pm I suspect that the paper-gold to physical gold ratio will further increase from recent 122:1 levels. Looks like a big buyer, 100Bn, perhaps Russia, buying 1500 tonnes of physical gold, via Options (expiry settlement in physical gold rather than cash). With current sanctions those trades being applied via third parties (Zimbabwe ?). Not the more usual large trades at the gold fix time(s) that is more common with state level trades. Perhaps in response to the US looking to seize 300Bn of Russian owned US treasury's. The Option writers will be in panic trying to secure the physical gold prior to Option expiry, so some price (rigging) volatility is likely over coming days/weeks. Ultimately with more paper-gold having been created out of thin air. That will increase Russian gold reserves from 3000 tonnes to 4500 tonnes, but more importantly be in the form of physical gold.
Could become a recurring weekly game, he who has physical in their own vaults is king in a world where there's >100 times more paper gold than physical gold.
Seajay, are you saying that the ETFs are not backed by physical gold as they claim to be?
While "paper gold" is often a term used to describe gold ETFs, from the context of Seajay's comments I instead understood him to be using "paper gold" to refer to gold options. In which case, yes the outstanding gold options could far exceed the physical gold available. Most traders close out the option position prior to expiry and collect the cash. What if they don't and instead say "I'll take it, deliver my gold". Seajay, am I interpreting your comments correctly?Xan wrote: ↑Sun Apr 14, 2024 2:56 pmseajay wrote: ↑Fri Apr 12, 2024 6:14 pm I suspect that the paper-gold to physical gold ratio will further increase from recent 122:1 levels. Looks like a big buyer, 100Bn, perhaps Russia, buying 1500 tonnes of physical gold, via Options (expiry settlement in physical gold rather than cash). With current sanctions those trades being applied via third parties (Zimbabwe ?). Not the more usual large trades at the gold fix time(s) that is more common with state level trades. Perhaps in response to the US looking to seize 300Bn of Russian owned US treasury's. The Option writers will be in panic trying to secure the physical gold prior to Option expiry, so some price (rigging) volatility is likely over coming days/weeks. Ultimately with more paper-gold having been created out of thin air. That will increase Russian gold reserves from 3000 tonnes to 4500 tonnes, but more importantly be in the form of physical gold.
Could become a recurring weekly game, he who has physical in their own vaults is king in a world where there's >100 times more paper gold than physical gold.
Seajay, are you saying that the ETFs are not backed by physical gold as they claim to be?
For stock/bond ETFs, yes they are backed the same as MFs and regulated the same.vnatale wrote: ↑Sun Apr 14, 2024 3:20 pmThe whole ETF is a mystery to me as to how any of them are backed up by anything? Do they actually own all the stock or whatever the same way a mutual fund does? I have never owned an ETF.Xan wrote: ↑Sun Apr 14, 2024 2:56 pmseajay wrote: ↑Fri Apr 12, 2024 6:14 pm I suspect that the paper-gold to physical gold ratio will further increase from recent 122:1 levels. Looks like a big buyer, 100Bn, perhaps Russia, buying 1500 tonnes of physical gold, via Options (expiry settlement in physical gold rather than cash). With current sanctions those trades being applied via third parties (Zimbabwe ?). Not the more usual large trades at the gold fix time(s) that is more common with state level trades. Perhaps in response to the US looking to seize 300Bn of Russian owned US treasury's. The Option writers will be in panic trying to secure the physical gold prior to Option expiry, so some price (rigging) volatility is likely over coming days/weeks. Ultimately with more paper-gold having been created out of thin air. That will increase Russian gold reserves from 3000 tonnes to 4500 tonnes, but more importantly be in the form of physical gold.
Could become a recurring weekly game, he who has physical in their own vaults is king in a world where there's >100 times more paper gold than physical gold.
Seajay, are you saying that the ETFs are not backed by physical gold as they claim to be?
Futures contracts
This Boglehead conference attending boglehead holds gold, but yes, its not worth arguing about over there.dualstow wrote: ↑Fri Apr 12, 2024 12:37 pm I guess they got tired of it. There are bogleheads who hold gold, but they do it more quietly now.
Edit: you might see some familiar names in this thread:
https://www.bogleheads.org/forum/viewto ... &start=200
That's a good article. Bypassed the paywall using archive.todaypmbug wrote: ↑Wed Apr 17, 2024 8:37 am Speaking of which, end of the world talk is now mainstream:
https://www.telegraph.co.uk/business/20 ... -dystopia/
^With the bonuses Costco offers on precious metal purchases, in fact, some buyers may effectively eliminate the premium. Those who buy their bars at the store using Citigroup credit cards are eligible for 2% cash back on their purchase. Executive members at Costco can receive an additional 2% cash back.