An hour well spent doing bugger all but listening. And somewhere in the middle of it all Andy makes a salient point about the producers dealings with the "establishment" in regards to payment at which point you perked up and came in with your "they're giving them the two fingers" comment then it became clear to you both that you're hitting the same nail on the head but with a different hammer (just coming from a different angle). It's like I've said before, you can talk the same narrative over and over but it doesn't get boring because you're talking to people who come at it from differing viewpoints. And that's what made this hour a fascinating "must listen". Thanks very much 🥃
Alasdair - you forgot to name the scores of boats of welfare migrants arriving each day, also contributing greatly to the coming bankruptcy of UK. As for the few grifter non-doms, it is the millions (still that much?) of middle class UK residents who are being taxed to death.
I believe the Laffer curve leans heavily on income tax. But there is still plenty of low hanging fruit for Satan to get his grubby little hands on. Increased VAT (the cattle still gotta eat), tax on pensions or their confiscation (what are the pensioners going to do about that one eh? – stop working and leave the country?), exit tax, road usage tax – people aren’t going to walk. Inheritance tax increase – people gotta croak sometime! The list is endless. It is only when the middle class have been taxed to death that welfare cuts will be made.
In Germany there was a real estate tax reform – two or so years ago - all owners had to give a correct estimate of the value of their real estate. (Rumours have it that this is in preparation for a “Lastenausgleich” (load balancing aka bolshevism) or “Zwangshypothek” force re-mortgage of up to 50% of value of property. This was done before in 1952. As my old man used to say – if it happens once, it can happen again.
“The 2019 reform of the Lastenausgleichsgesetz, effective January 1, 2024, modernised the Social Compensation Law (SGB XIV) to streamline entitlements for war victims, terror victims, and others (e.g., those with vaccine injuries)”
War victims, terror victims = migrants
“This led to the Grundsteuerreform, which mandated a revaluation of approximately 36 million properties across Germany. Here’s what happened:
• Filing Requirement (2022): Between July 1 and October 31, 2022 (extended to January 31, 2023 in some cases), all property owners—whether of residential, commercial, agricultural, or undeveloped land—were required to submit a Feststellungserklärung (property tax return) to their local tax office (Finanzamt). This applied to owners as of January 1, 2022, the reference date for valuations”
What if Trump is trying to destroy the dollar? Of course you can’t lower interest rates without destroying the dollar. Then he can pay off the debt for pennies and bring on his “golden age “. His economic advisors know that interest rates should go up or else it will destroy the value of the currency. He also just started a crypto push and intends to fill stable coins with treasuries. They will sit there and rot to nothing. Everyone investing in them will suffer, but the bond market will have a reliable buyer while other investors refuse to buy zero interest treasuries.
Incidentally, I must say from my personal experience over the past few years that Kinesis is well worth a look. Very happy customer here. As always, not investment advice, DYOR etc.
I found the idea great and easy to use, but it costs a lot to get money into their system. No UK account access, so FX fees to get money to Indonesia or Australia Kinesis accounts.
The Visa card did exist and mysteriously stopped working only to be told it would be replaced by a new one that never materialise for months - not sure if it ever did materialise or if still a broken promise.
For some reason I was requested to supply proof yet again of address, ID, etc. I decided to just withdraw and buy physical.
Maybe if one lived in the USA or Australia it might be better.
Yep, the credit card is an ongoing farce. But you can now inject GBP directly. And you can buy, store, and take physical delivery of your bullion for less than 1% soup to nuts. Compare that to, say, Royal Mint Bullion where you pay 6% premium up front, 1% pa for storage and another charge to get your bullion. Actually, right now Kinesis is paying us to store gold with them. I initially found that alarming because I suspected they were leasing it out but the yield actually comes from a share of network fees.
I opened the account at the end of 2022 and finally emptied it at the start of 2025. So GBP deposits must be very recent. But I figure 2+ years was long enough to wait.
And, unless you live somewhere where it’s legal, practical and safe to have your bullion delivered to your door, RMB is just the world’s most expensive cash-settled gold ETF.
An hour well spent doing bugger all but listening. And somewhere in the middle of it all Andy makes a salient point about the producers dealings with the "establishment" in regards to payment at which point you perked up and came in with your "they're giving them the two fingers" comment then it became clear to you both that you're hitting the same nail on the head but with a different hammer (just coming from a different angle). It's like I've said before, you can talk the same narrative over and over but it doesn't get boring because you're talking to people who come at it from differing viewpoints. And that's what made this hour a fascinating "must listen". Thanks very much 🥃
Michael says "Thank you Alasdair".
On behalf of all of us.
😂😂😂
Alasdair - you forgot to name the scores of boats of welfare migrants arriving each day, also contributing greatly to the coming bankruptcy of UK. As for the few grifter non-doms, it is the millions (still that much?) of middle class UK residents who are being taxed to death.
I believe the Laffer curve leans heavily on income tax. But there is still plenty of low hanging fruit for Satan to get his grubby little hands on. Increased VAT (the cattle still gotta eat), tax on pensions or their confiscation (what are the pensioners going to do about that one eh? – stop working and leave the country?), exit tax, road usage tax – people aren’t going to walk. Inheritance tax increase – people gotta croak sometime! The list is endless. It is only when the middle class have been taxed to death that welfare cuts will be made.
In Germany there was a real estate tax reform – two or so years ago - all owners had to give a correct estimate of the value of their real estate. (Rumours have it that this is in preparation for a “Lastenausgleich” (load balancing aka bolshevism) or “Zwangshypothek” force re-mortgage of up to 50% of value of property. This was done before in 1952. As my old man used to say – if it happens once, it can happen again.
“The 2019 reform of the Lastenausgleichsgesetz, effective January 1, 2024, modernised the Social Compensation Law (SGB XIV) to streamline entitlements for war victims, terror victims, and others (e.g., those with vaccine injuries)”
War victims, terror victims = migrants
“This led to the Grundsteuerreform, which mandated a revaluation of approximately 36 million properties across Germany. Here’s what happened:
• Filing Requirement (2022): Between July 1 and October 31, 2022 (extended to January 31, 2023 in some cases), all property owners—whether of residential, commercial, agricultural, or undeveloped land—were required to submit a Feststellungserklärung (property tax return) to their local tax office (Finanzamt). This applied to owners as of January 1, 2022, the reference date for valuations”
https://www.labyrinthproduction.com/wp-content/uploads/cit/TheyLive-1988-LabyrinthProduction-quotes.jpg
Thank you Alasdair.
Trump has a number of gold bugs in his administration, especially the Secretary of the Treasury
Uh....I haven't seen it yet. Audit on Ft. Knox, anybody??? Abandonment of Keynesianism for Austrian School, anybody??? I haven't seen it yet.
What if Trump is trying to destroy the dollar? Of course you can’t lower interest rates without destroying the dollar. Then he can pay off the debt for pennies and bring on his “golden age “. His economic advisors know that interest rates should go up or else it will destroy the value of the currency. He also just started a crypto push and intends to fill stable coins with treasuries. They will sit there and rot to nothing. Everyone investing in them will suffer, but the bond market will have a reliable buyer while other investors refuse to buy zero interest treasuries.
Alasdair thank you, great message extremely well conveyed. Thanks again
Incidentally, I must say from my personal experience over the past few years that Kinesis is well worth a look. Very happy customer here. As always, not investment advice, DYOR etc.
I found the idea great and easy to use, but it costs a lot to get money into their system. No UK account access, so FX fees to get money to Indonesia or Australia Kinesis accounts.
The Visa card did exist and mysteriously stopped working only to be told it would be replaced by a new one that never materialise for months - not sure if it ever did materialise or if still a broken promise.
For some reason I was requested to supply proof yet again of address, ID, etc. I decided to just withdraw and buy physical.
Maybe if one lived in the USA or Australia it might be better.
Yep, the credit card is an ongoing farce. But you can now inject GBP directly. And you can buy, store, and take physical delivery of your bullion for less than 1% soup to nuts. Compare that to, say, Royal Mint Bullion where you pay 6% premium up front, 1% pa for storage and another charge to get your bullion. Actually, right now Kinesis is paying us to store gold with them. I initially found that alarming because I suspected they were leasing it out but the yield actually comes from a share of network fees.
I opened the account at the end of 2022 and finally emptied it at the start of 2025. So GBP deposits must be very recent. But I figure 2+ years was long enough to wait.
But I am glad it is working for you.
Agree, Royal Mint fees are on the high side.
And, unless you live somewhere where it’s legal, practical and safe to have your bullion delivered to your door, RMB is just the world’s most expensive cash-settled gold ETF.