Speculation & Gold

[muppet]

I am buying silver but selected coins only.

[Keys]

Why selected coins only?

[eri]

for collectors value, + fun, as well as the silver's

the actual value of silver in a coin is tiny....

[eri]

gold spiking $50?/hr as trump gets closer...

http://goldprice.org/gold-price-new-zealand.html

[Perry]

Should Trump get in, how long will it be before he's assassinated, given he's not 'owned' by the 'establishment?'

[donna]

Yeah - I am sure it's probably being plotted right now.

[eri]

he'll probably be caught by the secret service

groping 1 of their wives or girlfriends

they'll protest

he'll scream you're fired

they'll shoot him

[McDuck]

he'll probably be caught by the secret service

groping 1 of their wives or girlfriends

and they'll shoot him

Good luck with that. Donny has rubbed plenty of the wrong people up the wrong way over the years and he's still standing.

[Bluecoat]

Meanwhile US dollar plunges

and is red everywhere

[JBM]

The US Markets hit record highs friday ...Gold Plunged ....so much for the mass media scare tactics ..WRONG yet again ....finding Youtube - FOX news , RT seem to be closer to the truth than the free to air rubbish

[Perry]

The CPI is a fascinating beast.

I haven't had (make that wouldn't make) the time to go back through this thread to find the relevant posts. But the fudge factor of hedonistic stats is mentioned, in those earlier posts. Plus (as I dimly recall) mention that the CPI was seen as a deception, because a CPI movement of - say - 5% - meant little to the top earners in NZ society but had a helluva adverse impact on those lower down the socio-economic pecking order. E.g. National superannuitants.

Today, there was an item touching on this, here.

Retirees need ". . . just over $100,000 in savings at age 65 in order to be able to afford the most basic of lifestyles in either Auckland, Wellington, or Christchurch," research from Massey University has found.

Further down that item is found:

Thanks to the rising rental costs created by a shortage of homes in our big cities and council hiking their rates, housing and household utility bills have increased far faster than the Consumer Price Index, putting pressure on retirees. For the 12 months to June 30 2016, Statistics New Zealand calculated that housing and household utility costs jumped 3.3 per cent, against a rise in the overall Consumer Price Index of just 0.4 per cent, Matthews said.

"That increase will have had a considerable impact on retirees, especially those living alone," Matthews said. "Housing and household utility bills make up 24.2 percent of the basket of goods used to calculate the CPI." "However, for retirees living alone … this category actually makes up between 26.3 percent and 29.2 percent of their total expenditure, so any increase has a disproportionate effect on their cost of living."

"So while superannuation payments went up last year by more than the CPI, in line with the increase in average wages, most retirees will still need additional income, even for a very simple lifestyle."

I've often nurtured the view that the CPI was 'legally' fiddled to abet gummints' desire to reduce the Nat Super annual adjustment increases. Nothing in that Stuff item persuades me otherwise.

There are many forumites better at maths than I am, but comparing the story's 0.4% with 3.3% indicates to me that the 'official' and "disproportionate figure" numbers depart from reality by a factor of around 8.

I suspect that finding out - later in life and too late to start any meaningful saving - that being dependent upon the National Super is an existence spectre rather than living a life, is quite scary.

Again dimly recalled, I think we came up with our own [realistic!] formula for inflation. that was:
take the official CPI figure, multiply it by two and add two, to get the real inflation figure for most people.

[Davo36]

Perry, we got a letter in the post about "Changes to our water bill".

Changes? I said to my wife. Is the cost going down?

No? They're going up? Shocker.

And yes CPI is fudged, not sure if it's solely to save on increases in superannuation though.

Not sure why in fact it's understated in many countries.

[Judge]

Hi all,
Can someone please advise what is the best way to buy physical bullion in New Zealand? I want to take some money off the table and interest rates are so low that i prefer to store my money in gold (rightly or wrongly). There seem to be a few options on google, but i wanted to see if anyone has any experience and can recommend a certain option please?
Thank you.

[Keys]

I have dealt with these before. I would like a place in Christchurch, rather than Auckland, to do the business though.

[eri]

Some years ago sold some gold to a couples of places in church st? Onehunga/Penrose....1 was a smelter....their splits were less than the big name places