Results 1 to 4 of 4

Gold report

| General - Let's talk business
  1. 01-01-2014, 12:40 AM #1
    EcoSafe
    EcoSafe is offline
    EcoSafe started this thread.
    EcoSafe's Avatar
    SMF Badges of Honor
    Member since
    May 2011
    Posts
    3,705
    Thanks
    3,713
    Thanked 6,807 Times in 1,954 Posts

    Gold report

    Dn't know if this is old news or not: India the worlds #1 buyer and consumer of gold bullion has a huge trade deficit due to citizens demand for Gold during the wedding session, The Indian government added a 20% tax and an additional 10% import tax on imported gold. the result was a 93% drop in gold imports June through November 2013.

    China just opened the worlds first market in physical gold separating it from futures and speculation on paper futures in their stock exchange.

    Looks to me like their first real step toward an attempt to back their wan with gold and make it the power currency of the world. Just my .02

    "anyone who thinks scrappin is easy money ain't doin it right!"
    Register to reply. Register To Reply

  2. The Following 2 Users say Thank You for This Post by EcoSafe:

    Mick, Patriot76
  3. 01-01-2014, 12:40 AM

  4. 01-01-2014, 09:23 AM #2
    erewen
    erewen is offline
    SMF Badges of Honor
    Member since
    Aug 2011
    Posts
    466
    Thanks
    1,612
    Thanked 417 Times in 199 Posts
    Not sure if I will live long enough to see the balance of power completely shift. I think it took WW1/WW2 for the power center to switch from England to the US. Might take something equally catastrophic, but I was surprised to see that use of the yuan has recently passed the euro.

    That being said, as a nation we seem to be doing our darndest to dig our own grave. Do you read tfmetalsreport dot com?

  5. The Following User Says Thank You to erewen for This Post:

    Bear
  6. 01-01-2014, 09:40 AM #3
    Patriot76
    Patriot76 is offline
    Patriot76's Avatar
    SMF Badges of Honor
    Member since
    Dec 2012
    Location
    Buffalo Commons
    Posts
    2,949
    Thanks
    10,591
    Thanked 7,218 Times in 2,256 Posts
    Scrap - the world's only universal currency.

  7. The Following User Says Thank You to Patriot76 for This Post:

    Bear
  8. 01-01-2014, 09:49 AM #4
    BumpRacerX
    BumpRacerX is offline
    SMF Badges of Honor
    Member since
    Aug 2011
    Posts
    246
    Thanks
    21
    Thanked 177 Times in 73 Posts
    Quote Originally Posted by olddude View Post
    Dn't know if this is old news or not: India the worlds #1 buyer and consumer of gold bullion has a huge trade deficit due to citizens demand for Gold during the wedding session, The Indian government added a 20% tax and an additional 10% import tax on imported gold. the result was a 93% drop in gold imports June through November 2013.

    China just opened the worlds first market in physical gold separating it from futures and speculation on paper futures in their stock exchange.

    Looks to me like their first real step toward an attempt to back their wan with gold and make it the power currency of the world. Just my .02
    Don't let yourself be too fooled by the Indian taxes and lowered amounts of imports. The imports are still happening, but now they are going unreported. Others in India have started to buy and store outside the country.
    Pfiji-My blog about health fitness and sailing
    Register to reply. Register To Reply

  9. The Following User Says Thank You to BumpRacerX for This Post:

    EcoSafe

    10. Similar threads on the Scrap Metal Forum

    1. To report or not to report
      By brokescrapper in forum Scrap Business Ethics
      Replies: 25
      Last Post: 01-15-2014, 06:59 PM
    2. I am writing a report for school with my son.
      By leeisme in forum Introduce yourself
      Replies: 2
      Last Post: 11-21-2012, 04:04 PM
    3. 2000 hard drives, first report.
      By EcoSafe in forum Dismantling, Breaking Down & Maximizing Scrap
      Replies: 3
      Last Post: 08-14-2012, 07:13 PM
    4. Things are picking up finally! Status report
      By CanIScrapIt in forum A Day in the Life of a Scrapper
      Replies: 5
      Last Post: 03-04-2012, 09:41 AM
    5. report card on first ewaste sale:
      By EcoSafe in forum General - Let's talk business
      Replies: 20
      Last Post: 12-13-2011, 04:23 PM

« Board buyers in Georgia | an idea for the thrift stores »

Thread Information

Users Browsing this Thread

There are currently 1 users browsing this thread. (0 members and 1 guests)

 
Browse the Most Recent Threads
On SMF In THIS CATEGORY.




OR

Bookmarks

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •  

Forum Rules


The Scrap Metal Forum

    The Scrap Metal Forum is the #1 scrap metal recycling community in the world. Here we talk about the scrap metal business, making money, where we connect with other scrappers, scrap yards and more.

SMF Recommended Links

SMF on Facebook and Twitter

Twitter Facebook