sidetracking again?It's not as if I said that everyone getting rid of USD today and expect everything to work without USD tomorrow. Again, all I'm trying to say is that the fact that so many countries are repatriating their gold from the Fed, and some bypassing the USD in trade, signifies something. Sure everything will still be in conducted in USD now but they're also anticipating currency crisis, USD crisis to be exact.

"Gold is not a money nor currency but another asset class which investors can diversify into."
I've already mentioned that gold is not a good currency tool. But I do believe gold is money(according to the definition I learned). Your definition of money could be different, so I'm not arguing.

"Properties can store value, land can store value, share can store value, oil/iron ore/besi buruk also another one can store value, so does gold, silver, copper etc."
I'm talking about inherent value. If you put it your way, even pebbles can store value.

This post has been edited by sinbad2k: Dec 10 2014, 03:39 PM

"Yes, look at those antique stuff, worth millions a single piece."
You're talking about numismatics. Our subject here is gold as "store of value".

Your own definition of money is rather "weak" I believe. No wonder besi buruk and pebbles can be a store of value. Fine, let's not get sidetrack or be sidetracked further.



Well, that's the theory, ideally by proponents of Keynesian. "Debt can be solved by inflation"? Really?No wonder you're okay with inflation. You even did the hard work of illustrating debt raising by generations which clearly shows how the worth of the currency is being shaved off gradually and yet it's ok? OK, I guess I'll stop here.

p/s: You might want to look at gold from a monetarist perspective. Check out Alan Greenspan's essay about gold and economy.

This post has been edited by sinbad2k: Dec 18 2014, 02:03 AM

If you're looking for short term profit, you shouldn't be investing in gold.

Physical gold more expensive by 20%?? Could you give an example? If you're referring to physical gold that can be withdraw from bank in paper gold accounts (e.g. CIMB), it's around that figure. Doesn't worth it and it's a blatant ripoff. Local goldsmiths shops are ripoffs too.

Physical gold is definitely more expensive that paper gold because of the costs of making it + some profit and usually not that ridiculously more expensive that paper gold (depending on the type of physical gold and from where you buy it).

If you're into physical gold, you should buy :

1)Gold coins -
Coins minted by Government mints with face value and is legal tender (e.g. Malaysia's Kijang Emas, Canadian Gold Maple Leaf, American Gold/Buffalo Coin, Australian Gold Kangaroo, Chinese Gold Panda, Austrian Philaharmonic,etc.

2)Gold rounds -
Same shape as coins but they can't be called coins because they're not Government minted and does not have face value and is not legal tender. They're minted by private mints. Each private mints have their unique designs and serial number. If you prefer this, make sure to buy rounds minted by internationally recognised mints. e.g. PAMP Suisse, Johnson Matthey, Sunshine Mint, Royal Canadian Mint, Perth Mint, etc..

3)Gold bars -
Same as gold rounds except that they come in bar shape.

You would probably need your receipt and also your IC (I think you're informed of this when you were buying it?Damn..can't escape from LHDN now!). The paper cardboard holder and the envelope that comes with the coin will do just fine.

This post has been edited by sinbad2k: Jan 30 2015, 06:17 PM

It depends from where you're buying from and the weight. Here's from UOB. UOB Gold Bullion Rates Their rate is pretty attractive but requires you to open a saving account to purchase it.

This post has been edited by sinbad2k: Jan 30 2015, 06:23 PM

I'm no sifu but I think it's because of the weaker RM against USD since gold spot price is priced in USD. It's make sense too since we've two variables that is changing, (A)-Gold spot price itself(in USD) (B)-USD-MYR rate. If (A) is around the same but now price is higher, then it must be (B) that has significant change. Unless it's MBB that is charging more premium now on the coin. Not sure if it'll drop below 1200/Oz. again but I think I'm going to get GML this time when it hovers near 1200/Oz.

If you're thinking of flipping it after in short term, you're better off with shares?

This post has been edited by sinbad2k: Feb 13 2015, 04:24 PM

Yes, just go to any MBB branch that sells Kijang Emas(not any MBB branch) or Ar-Rahnu(receipt needed). If you're still not clear how and where to liquidate, jz ask the bank teller when buying Kijang Emas.

I think you can start buying at the price level now.

Can buy anytime now actually when it's nearing USD1200. But it's expected to go below 1200 (but still near 1200) when Greece bailout deal is being finalised.


Try Ar-Rahnu?

maybank kijang emas is still more or less the same price as yesterday despite a big jump on gold price. not sure why.but it should be good to buy today before they adjust to the current international price level.

Finally, I see someone doing some good homework. If you have time, take a look at Bill Still's "The Money Masters". Note that, Mike Maloney and Jim Rickards are mostly educating people on how to preserve their wealth as much as possible but Bill Still is seeking to end the inherently unfair monetary system.

Have you look at Mike Maloney's and Jim Rickards' articles and interviews yet? If you've done so, look at Bill Still's one.

real estate/property indeed is the best place to stash one's wealth. Mike Maloney did mentioned that ultimately, our store of wealth should be in real estate/property. Precious metals like gold and silver is just the 'vehicle' for us to get there.

(for the benefit of others) I'm actually talking about store of wealth itself without taking any kind of debt.

Bill Still's idea of creating money based on population growth (one of his idea), is not the silver bullet for this whole thing and it's not the ultimate solution. But it does did away debt based money though. You might want to watch two other educational video called "97% Owned" and "Overdose:The Next Financial Crisis".

You have to keep in mind that people like Mike Maloney, Jim Rickards ,etc. are just educating ppl on how to preserve their wealth as much as possible and giving warning of the impending crisis that they see will happen in the near future. Because our lives are deeply entrenched in this system since we're born, we've no choice but to ride along. Mike's advice to put our wealth in precious metals is to reduce the possibility of total wipeout of wealth when the crisis happens. If you recalled, Mike Maloney, at the end of his series of videos did invite all interested ppl to a forum to brainstorm a new monetary system.

Not that cham if you have a lot of gold and silver now. Just keep it for now. How much have you bought btw? Anyhow, when the currency system crashes, they can't create an entirely new monetary system like Bill Still's one overnight. What they most probably do to save the situation quickly is to fall back to some kind of hybrid monetary system maybe that involves precious metal at least for temporarily while working out a new monetary system, as Mike Maloney and Jim Rickards think. That's when gold and silver will rise. You get rid of it at this time. After that they will probably slowly fall in worth as the world transition to the new monetary system. This is the message they're trying to get across.

This post has been edited by sinbad2k: Apr 28 2015, 03:26 PM

it's fine if you put that much. Just be sure your other 20% is enough for emergency situation and other basic financial needs first.

wow..you even go to the extent of stocking up food and water....jz like the show "doomsday preppers"....salute!
For the vege, if you want to go all out, have you considered hydroponic?

I was actually meaning to say that the 20% should be enough to carry out your daily activities and to support your lifestyle, for holidays, for some purchases, splurging, etc...

probably you can ask those ppl at plants nursery about the hydroponic.

I don't think the big jump in price is in USD1200/Oz region. Just keep watch on it and not worried on small fluctuation.

This post has been edited by sinbad2k: May 1 2015, 11:42 PM

it's a no brainer investment. buy low and sell high as mentioned. but the period of waiting for it to go real high could be real long usually. if your want something quicker go buy shares.

physical means gold that you can hold in your hands like gold bar,coins,wafers, rounds and jewelry. Public Bank's gold is a bank account ('paper gold') where the gold only exist in electronic digits in computer screens or numbers in the account book. There's no actual physical gold there but the price is usually based on international gold spot price coupled with the bank rates.

I have CIMB gold investment account(but closed it already). This paper gold account has a special feature though where I can choose to take out real physical gold but the minimum amount to take out is 100g if I recall correctly and for every gram I take out, I'm charged RM10 for a so called admin fee. To the best of my knowledge, only CIMB has the option to convert the gold to physical and I heard PBB stopped that some time ago. Not sure if they have it back again and I can't find anything on PBB website about this. So yes, I reckon, PBB's gold investment account is truly paper gold.