Plus: When will it stop raining, is Labour giving up on one of London's boroughs, and the Hampstead property where Marie Antoinette would feel at home.
Check out the book ‘Material World’ by Ed Conway for the extraordinary lengths gone to, to eke more of this metal out of the Earth. I’d never buy gold since reading it. We’re quite bonkers as a species. 😂
Not relevant to this thread, but notice tonight (13 Feb) BBC London covered the opening of the London lights... and gave credit to Asif Aziz. Mentioned him as a generous donor who owns a foundation that helps people. Astonishing they didn't seem aware of his other interests...
Actually this is quite unforgiveable from City Hall. I am a huge Sadiq Khan fan, but surely they must know the backfround to Aziz? He is helping them neutralise a Reform attack line on spending taxpayers money on Ramadan lights (my guess is most Londoners would be happy with it anyway). But to do that they have given the whole show over to man trying to ruin the Prince Charles cinema, Picturehouse Central, and who turns a convenient blind eye to fake Harry Potter stores...and how left the UK for tax reasons when Labour won!
All I can think of is that they don't read London Centric there: surely impossible!
Will any of the gold sellers I wonder advise the "electronic music producer" that the Financial Sevices Compensation Scheme increased the covered sum to £120K. And that's per bank or building society.
"Then there’s the young welder in dungarees who walks in and buys a one ounce gold coin with a wad of cash from his paycheck. Nicole feeds 192 notes through the counting machine, the sound of which crackles and whirrs through the intercom. “I don’t trust my money in the bank,” he says. He plans to put the gold coin he’s buying today, worth about £3,800, under his pillow along with the other one he bought a few weeks ago. The two coins amount to about half of his savings"
Assuming this isnt being declared to hmrc, this is straight forward tax evasion. This is an offence and our guy is either going to wind up getting audited by hmrc when their lifestyle is not consistent with their declared earnings, or getting robbed and losing everything.
Sentencing for defrauding the revenue is years in prison.
To be fair, they've referred to it as a "paycheck", which implies it has gone through PAYE. Just because you've received money in cash doesn't mean it hasn't been taxed or HMRC hasn't been notified.
While there is a strong correlation between people who buy physical gold, and people with eccentric socio-political views, there are also sound reasons for it.
Investing in gold is a reasonable investment strategy, usually as a hedge against global uncertainty, but also to profit speculatively on sentiment driven price rises (the current market being a bit of each, I'd say).
Investing in actual lumps of the stuff has a significant tax advantage in the UK. There is no capital gains tax to pay on British gold coins - i.e. Sovereigns and Britannias. Physical gold generally has poor spreads (the difference between the buy and sell prices) compared to other ways to invest, but given the recent rise in gold prices, being able to dodge the 30% CGT on profits greatly outweighs the spread and the general hassle of keeping bits of yellow metal safe in your attic. Most people get their coins by post. Going into a shop has a certain charm - and a certain anonymity - but it's far from cost effective.
People have always like valuable, tradable physical goods from first edition books to antiques to expensive whiskey, and these frequently form a sort of curious quasi emotional investment strategy.
Fascinating insight into who buys gold; nearly every far-right podcaster of any note has a gold business on the side, so when the conspiracy people pop up you know who sent them.
Check out the book ‘Material World’ by Ed Conway for the extraordinary lengths gone to, to eke more of this metal out of the Earth. I’d never buy gold since reading it. We’re quite bonkers as a species. 😂
Great recommendation - one of those great nonfiction books that leave you seeing the world slightly differently after reading it.
Not relevant to this thread, but notice tonight (13 Feb) BBC London covered the opening of the London lights... and gave credit to Asif Aziz. Mentioned him as a generous donor who owns a foundation that helps people. Astonishing they didn't seem aware of his other interests...
Actually this is quite unforgiveable from City Hall. I am a huge Sadiq Khan fan, but surely they must know the backfround to Aziz? He is helping them neutralise a Reform attack line on spending taxpayers money on Ramadan lights (my guess is most Londoners would be happy with it anyway). But to do that they have given the whole show over to man trying to ruin the Prince Charles cinema, Picturehouse Central, and who turns a convenient blind eye to fake Harry Potter stores...and how left the UK for tax reasons when Labour won!
All I can think of is that they don't read London Centric there: surely impossible!
Will any of the gold sellers I wonder advise the "electronic music producer" that the Financial Sevices Compensation Scheme increased the covered sum to £120K. And that's per bank or building society.
I'm sure he'll do well with his Bitcoin. Oh, hell, wait: https://www.bbc.co.uk/news/articles/ckgl2je65klo
"Then there’s the young welder in dungarees who walks in and buys a one ounce gold coin with a wad of cash from his paycheck. Nicole feeds 192 notes through the counting machine, the sound of which crackles and whirrs through the intercom. “I don’t trust my money in the bank,” he says. He plans to put the gold coin he’s buying today, worth about £3,800, under his pillow along with the other one he bought a few weeks ago. The two coins amount to about half of his savings"
Assuming this isnt being declared to hmrc, this is straight forward tax evasion. This is an offence and our guy is either going to wind up getting audited by hmrc when their lifestyle is not consistent with their declared earnings, or getting robbed and losing everything.
Sentencing for defrauding the revenue is years in prison.
To be fair, they've referred to it as a "paycheck", which implies it has gone through PAYE. Just because you've received money in cash doesn't mean it hasn't been taxed or HMRC hasn't been notified.
there is no real reason to insist on being paid entirely in cash and not putting money in the bank unless you are cheating the revenue tbh.
There's no *real* reason, but you might think there is a reason if you have been following conspiracies on various social media all day.
There is no real reason to store half your savings under your pillow...
Ilford in north London? Is this another example of the Islington-ification of London politics?
Going to blame trying to cut down repetition of "Ilford North" for that one.
Also — APRIL? Wow. ☂️
AWFUL
While there is a strong correlation between people who buy physical gold, and people with eccentric socio-political views, there are also sound reasons for it.
Investing in gold is a reasonable investment strategy, usually as a hedge against global uncertainty, but also to profit speculatively on sentiment driven price rises (the current market being a bit of each, I'd say).
Investing in actual lumps of the stuff has a significant tax advantage in the UK. There is no capital gains tax to pay on British gold coins - i.e. Sovereigns and Britannias. Physical gold generally has poor spreads (the difference between the buy and sell prices) compared to other ways to invest, but given the recent rise in gold prices, being able to dodge the 30% CGT on profits greatly outweighs the spread and the general hassle of keeping bits of yellow metal safe in your attic. Most people get their coins by post. Going into a shop has a certain charm - and a certain anonymity - but it's far from cost effective.
People have always like valuable, tradable physical goods from first edition books to antiques to expensive whiskey, and these frequently form a sort of curious quasi emotional investment strategy.
Fascinating insight into who buys gold; nearly every far-right podcaster of any note has a gold business on the side, so when the conspiracy people pop up you know who sent them.
Lobby!? It's a foyer. Heavens. But do keep up the good work.
Why is no one talking about that HOUSE
Isn’t a lot of this just money laundering? Buy gold for cash and then sell it at a different place and get the money as a bank transfer or bitcoin.
Considering the 25% markup there are cheaper ways. Have you considered opening a souvenir shop?
Streeting’s Mandelson connection could also be problematic
Great minds lol
https://www.investorschronicle.co.uk/content/59454922-7cb1-421b-97fa-f22a7768611b