Is it too late to buy gold

This week:

  • Gold Symposium Auckland

  • Egon von Greyerz key note at the Gold Symposium Sydney

  • Bank failures: Could they happen in NZ?

  • Fractional Reserve banking and are we nuts too?

Gold Symposium Auckland

We’ll try to keep it brief today as we’re off soon this morning to the Gold Symposium featuring Professor Fekete at the University of Auckland Business School.

It’s a full week but unfortunately we’re only catching a couple of the days.  We’ll report back on that next week.

Election result

While we’ve been somewhat a disinterested observer of the electioneering, the result means no Labour capital gains tax and therefore no tax on any precious metals you may sell someway down the track.  So that’s something to be thankful about.

However we have our doubts about the odds of the government deficit being reduced in the coming years even with some of the spending cuts they have planned, as their growth projections seem a tad optimistic still.

This weeks articles (Links and summaries at the end of this column)

We’ve got some great reading for you in this weeks articles.

Egon von Greyerz at the Gold Symposium Sydney

You can read our report on Egon von Greyerz’ presentation at the Sydney Gold Symposium.  It was an entertaining if somewhat doom laden address.

Bank failures: Could they happen in NZ?

We’ve also this week written about the likelihood of bank failures occurring in NZ.  We think this is a very important read as it looks at just how safe your money is in the bank and what would happen to it if a New Zealand bank was to go under.

Are we Nuts too?

Strangely enough as we contemplated the above article, Fractional Reserve banking was somewhat in the limelight over the weekend with a lone protester arrested in Wellington for setting alight his car in Cuba Mall.   The Bay of Plenty farmer spray painted on the footpath “What is fractional reserve banking? Google it.”

Unfortunately for him the point of his protest seemed lost on most people.  Not surprising I guess since most people have zero understanding of what money is and how the banking and monetary system operates.  We don’t know anything about his mental state but not surprisingly he seems to have been treated as a “nutter”.  I think that’s how most of our friends have viewed us too in recent years whenever we talk gold or the monetary system!

Although perhaps this is just changing slightly now.  While we don’t have too many asking us serious questions about precious metals yet, people do at least seem more aware that gold has been rising – even if they only think it’s a recent phenomenon, not a decade long one.

Is it too late to buy gold?

Given this large rise many people wonder is it too late to buy?  If you are one of those then this weeks 3rd article “Is gold still the answer for investors?” will be a must read for you.  Likewise if you wonder where it could go from here.  It’s a comprehensive wrap up of gold including:
• Analysis of monetary supply growth versus Central Bank gold supplies and Gold supply growth
• Price gold has to rise to cover non-gold (currency) reserves
• Food price index rising versus gold price
• Inflation adjusted gold price
• Projections of future gold prices based upon various scenarios

If you come to the same conclusion as the above article and don’t think it’s too late to buy and want a quote then give David a call on 0800 888 465 or

PAMP Gold and Silver Chinese Lunar calendar series

And if you’re after something different for a loved one this Christmas, you may recall one of our suppliers has got the Swiss Refiner PAMP’s Gold and Silver Chinese Lunar calendar series.

These are in celebration of the Chinese 2012 New Year and are very attractive gold and silver bars in a variety of sizes.  They are semi-numismatic so are slightly more than a standard PAMP bar but not by much.  For example the 1oz gold bar is 6.5% over spot.  These may also be of particular interest to any of our NZ based Chinese readers.  Check out the brochure for them…  PAMP Lunar Calendar Gold and Silver Series Brochure

Have a golden week!

Glenn (and David).
Gold Survival Guide



Is Gold Still the Answer for Investors?
2011-11-24 19:50:42-05 If you are somewhat new to the world of gold and have asked yourself the question “Is it too late to buy?”, the following is an absolute must read.  It’s lengthy but full of charts and is a great summary of just where we are at now.  In this article just some of what Bud […]
read more…
Gold Symposium Sydney: Egon von Greyerz Apocalypse Soon
2011-11-28 00:05:21-05 Very apocalyptic indeed was the title of Egon von Greyerz of Matterhorn Asset Management’s presentation at the Sydney Gold Symposium… “A Return to the Dark Ages” However given his gloomy title he had a collection of somewhat edgy but humorous slides to lighten the mood. We’ve seen von Greyerz perform pretty well on CNBC in […]
read more…
Bank Failures – Could they happen in NZ? The Reserve Bank thinks so
2011-11-29 02:53:03-05 Last week we were reading this Zero Hedge article with the rather long headline “Futures Plunge As Fed Discloses New Stress Test: Fears US Banks Will Need To Raise Tens Of Billions In New Capital”. It outlines how the US Federal Reserve is intending to stress test 6 large US banks against a “hypothetical” market […]
read more…

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