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 Replies: 11 / Views: 1,762 |
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Valued Member
Canada
272 Posts |
Here it comes, the RCM announced it is selling gold at $20.00 in the form of exchange trade receipts, according to yahoo..
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Valued Member
Canada
451 Posts |
Must be expecting a decline in gold prices soon, or expanding their market. They could just sell bullion.
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Pillar of the Community
 Canada
9864 Posts |
Does this mean the Mint(owned by the taxpayers) will sell us shares in gold we already own?
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Valued Member
Canada
451 Posts |
Now you will own 100.0001% of that share. But you will still have to pay that 0.35% tax on your 100% share plus all the other taxes you already pay for that 0.0001% part. But you only get 100% minus any applicable fees when you cash in your share.
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Bedrock of the Community
Canada
10743 Posts |
Typical Mint.  |
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Valued Member
Canada
124 Posts |
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Pillar of the Community
Canada
3692 Posts |
This will prove interesting if the marketplace started using these as money.
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Valued Member
Canada
451 Posts |
That is actually not a bad idea. Money that appreciates/depreciates with the economy.... It is why I wish silver coinage would come back. The $20 for $20 silver coin is a decent idea, now just put it into circulation.
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Pillar of the Community
Canada
1502 Posts |
Quote:
Does this mean the Mint(owned by the taxpayers) will sell us shares in gold we already own I don't follow. The RCM is a crown corporation but that does not mean taxpayers have any stake whatsoever in the gold they refine/mint/sell. Right? Quote:
Must be expecting a decline in gold prices soon On the contrary. The RCM is finally going to cash in on the rising gold market. If gold prices were tanking and few are buying, it would make no sense for the mint to step in IMO the RCM should done this a long time ago. They already have the storage facilities on top of refining gold, so why not charge for it and cut out the middleman. Just hope that the savings are passed on to cheaper ETRs. |
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Bedrock of the Community
Australia
21786 Posts |
Gold Exchange Trade Receipts?.......hmmmmm......Gold backed paper?
I don't think that this is the first step to the Gold Standard, abandoned in the early 1930's.......but maybe?.......
One way to go, if the major fiat currencies inflate out of control.
They keep the gold, you keep the paper.
I would rather keep the gold, and I suspect that most of us in the CCF would, too.
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Valued Member
423 Posts |
I think the RCM is actually backing what is bought on certain dates with real gold though. Taxes aside... and I only skimmed the brief... you should be able to trade in those papers for gold. again I did not read the fine details. But I guess if you really wanted to store gold and have it close by you would. |
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Pillar of the Community
Canada
1502 Posts |
option is open to take delivery. Glasses will be on for the fine print when this thing rolls out before the year ends
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Replies: 11 / Views: 1,762 |
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Posted 11/01/2011 9:06 pm
