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Didn't I read somewhere that a Chinese Bank is opening it's doors in the U.S? Just where might I find such a bank?
from the sounds of it pretty soon i might say any jp morgan.
3.40pm HK time
Gold Spot 1366
Hang Seng - never had Pandas and no Maples
BoC - Pandas 999 - out of stock HKD 11085
BoC - Maples 9999 - a couple in stock, perhaps - HKD 11092 (approx USD 56/4.1% over spot).
Boy! You guys are fast!
On the other hand, cant see the Chinese selling anything for a bargain. Not in their genetic makeup. I wonder whose Simons HS contact is?
If there were any government anywhere in the world more likely to find a way to lie about the gold content of their coins, I'd put my money on...er...well, the USA, but China would be a very close second.
Philharmonics, Maple Leafs, and Krugs FTW.
branches in manhattan and LA
I've heard they bought this old house on 1600 Pennsylvania AvenueWashington D.C., DC 20500.
Once the paint-job is over (The building will be painted in Communist fashionable Red), they'll move in. There also still seems to be a problem with the current renters who don't yet realize the place is sold.
Now that was funny.
Let me be perfectly clear: the wife, the girls, the mother-in-law, Bo and I are squatters...
I am looking into opening an account with the Bank of China as long as the money is "stored" in Renmimbi, not USD. Jim Rodgers keeps saying he is buying Renmimbi when ever he can but it is not for sale often. As I have little experience "purchasing" money or trading forex I thought a Renmimbi account might be the best way to go, especially if I can withdraw the money out side the US.
I checked and cannot agree with Sovereign Man...
Check this out:
In the UK - 1oz GBP 917
In Hong Kong - 1oz GBP 1010
I also called up a few Hong Kong banks to check if the website prices are correct and yes... So dont book your tickets to Hong Kong, well not to buy Gold coins anyway...
You can get Renminbi from any currency exchange business or from your bank. You will pay a premium averaging 10% over the fixed exchange rate. but if you believe it will significantly appreciate in value...
Everbank for you, my friend. They have CD's in renmimbis.
lunaticfringe: In Irvine, CA, there are two Chinese banks: EastWest Bank and Omni Bank.
Question for gold owners: is there a color difference between a Krugerrand and a Roo or a Panda or a Maple Leaf?
I am aware of the gold content difference between Eagles & Buffaloes for example, however, I would like to know if various geographic regions produce gold coins with color differences.Hope I'm being understood here.
Also: anyone watching Alaska Gold Rush on the Discovery Channel?
One old miner showed a panful of gold nuggets that looked to have been melted down. About $70k-$100k of gold (imo) in the pan. The color of this Alaskan gold was lighter yellow.
Bank of China. And they even let you open RMB denominated accounts. Plus, the deposits at either of the (2) NYC branches are FDIC insured.
All fiat is trash. What difference does it make if it's green trash or red trash?
Lots of smoke about counterfeit Pandas. Caveat Emptor.
From Ebay, not the PBoC.
Of course, this means you may have trouble selling them when you get home...
lots of counterfeit everything: http://cgi.ebay.com/Replica-1925-D-2-1-2-Indian-Head-Gold-Coins-COPY-/380301639972?pt=Coins_US_Individual&hash=item588bbe8124
Four Other Reasons Speculators Should Sell Their Gold Now...
Stupid article. The author doesn't know anything about gold or the factors affecting its price.
He even says the Fed isn't printing money, for fuck's sake.
You beat me to it. Yes, stoopid article. And the Fed's policies could be revoked 'at any time'? Dumb.
I am SICK as hell of these yokels, basing their predictions on what and where PM's will go.
Using an 1980 model is insane..The USA was the Worlds largest creditor then, now its the 100% opposite.
This alone with our debt ratio , and percentage of GDP to debt, is mind boggling.
Also, no other nation on earth had the issues we all face today.You cannot even make a comparison, simply because its DIFFERENT this time.
VERY different, like, as in the world has never been in such a jam.
With no way out.
Read an article (forget where), the author said that for every Trllion in new debt we add, the price of gold should be $4k per oz higher.
Sell their physical gold? ...And buy what, exactly?
Re: One of the points in that blog post: Capital always goes where it is treated well. Europe figured this out a long time ago.
You are the very perfect picture of a monumentally stupid motherfucker, you know that?
If you meant paper gold for trading, then I preemptively retract that. But if not, you are a monumentally stupid motherfucker and deserve to be a poor-ass bitch shinin my motherfuckin' shoes!
I junked you. I guess the Bernank isn't literally printing paper dollars, but giving electronic money to the PD's which then go to the Treasury to fund the gov't is the equivalent to printing money.
Wow very interesting. I'm selling the real thing(?) on ebay right now. If that coin didn't say copy on it I'd be fooled by the picture. As you can see I'm not a coin expert.
Dear, Living_Stone, the definition of counterfeit does not include those clearly maked as a copy. Those are legal. It's not the ones marked "COPY" that you need to worry about!
Be sure to watch for these passed off as genuine:
Anything sold with "mills" in the description is going be found soon in low-priced "hoards".
This is why it's best to stick with the known coinage.
Not such a good price for tungsten
Problem with brining them to the States or EU is that you limited to $10K USD's worth when flying international and unless your flying direct you will probably have to go through a number of security points in various airports en route.
No, $10000 is the amount you can take without declaring it. You can take as much gold or silver as you want, so long as you declare it. In this case, you are acting as a bullion importer--a perfectly legitimate trade.
So I could and pick up $.5m worth of gold maple leaf's, and carry them on with me, with no problem clearing customs?
I believe tmosley is right re US law. So the answer is yes. Have to declare them, do not fail to do that or you could be in BIG trouble.
Re Europe, I do not know, but I think it is OK as well, but have to declare as well.
Nice easy CAPTCHA. Why can't they be easy late at night?
There is no freakin way I am carrying any gold coins on me in any airport. On that you can make bank for sure.
let alone half a mil worth... although, it wouldn't be prohibitively heavy... you could carry it on... but, jesus... trying to explain you're able to bring it on the plane after declaring to a minimum wage earner is going to be harder than getting half a mil to start with...
[had a bad experience at JFK coming back from an international trip... was stupid enough to declare a reindeer pelt... the stupid mother fucker took it out of its bag and started petting it and asked "what is this, a rabbit?"... yes, it's the world's only 200 lb rabbit... we've solved world hunger... please keep rubbing it while I go try and kill myself on the escalator]
You need to declare more than $10,000 at US customs because if you are bringing more than $10K they want to know the source of the funds. So if you travel with a bunch of Gold have a bank statement showing a withdrawal to cover your purchase for example and be prepared for questions.
Just make sure to buy DENOMINATED coins.
Krugs, etc, without a face value, legal tender use, would cause the coins to be priced at SPOT.That would severly limit the amount coming in.
Also, the guy did have a TRUTHFUL Comment..........(plus where he was,maybe was a different deal altogether,cuttinfg some slack there, WHY would he lie?).
Just in India, their Prems are very low, except there is a VAT tax on Gld & Slvr, and if I remember its 7.5% on Gld,and 14%+ Svlr, why I have no clue.
In India VAT on gold and silver is 1% only
According to the law, you shouldn't, but no-one follows the law anymore. At least not in the West. I would make multiple trips so as not to place all of my eggs in one basket, should some greedy TSA asshole try to take it for himself.
To bad the loot cannot be FedExed: http://fedex.com/us/freight/rulestariff/prohibited_articles.html
Customs goons would find some way of depriving you of your property.
Better hope that the people in customs are honest!
If you declare it they might attempt to make you pay taxes on it? You will have to give a value. Would a better plan be to put them in an old coin purse you brought with you from home, and if you get stopped, say you carried them with you from home?
Hypothetically, of course...
Getting through screening with a pocket full of gold is something I would be afraid to try. Doesn't even matter what the regs or laws are. I'm sure I'd end up with the strip search of a lifetime. Woo Hoo!!!
Moooon Riverrr!!! (sub the doc for T&A)
For those of you who don't have the resources or time to exploit the gold price differential, you can always explore bottle deposit arbitrage (also known as the Seinfeld Mail Truck strategy), which at $0.05 and $0.10 between state borders has a 100% return potential, and none of the 1099 tax implications.
LOL. The gold price differential thing could work if you could hitch a ride with the president of Tunisia...
We had something similar in Europe: the Germans create a recycling tax for PET bottles (25 euro cents), which doesn't exist for example in France or Belgium: you could buy Vittel or Evian in France, and return the bottles in Germany: 25 cts net profit per bottle. Now they (the high tech Germans) have designed a special ink, with a very controled distribution system that is used to print a logo on the German market bottles, so that only German bottles get a 25 cts refund...
Before this, I heard rumors that some Eastern country citizens made bottles, just to recycle them in Germany (not buying water)
no one liked the metaphor of swimming and this bullshit story? my bad, carry on!
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