GOLD

[Nevl]

ok got mine. Rbs at 38.5p and Lloyds at 83.48p kiwi at 43.63

Game on.

Cool up $60 already!!

[srotherh]

http://www.forbes.com/feeds/afx/2009...fx7089016.html

Sri Lanka c.bank buying gold to diversify reserves
11.05.09, 04:55 AM EST



NEW DELHI, Nov 5 (Reuters) - Sri Lanka's central bank has been buying gold for the past five or six months as it diversifies its reserves amid volatile markets, the bank's governor said in an interview on Thursday.

'We have been fairly strong accumulators of gold reserves over the past few months,' Sri Lanka Central Bank Governor Ajith Nivard Cabraal told Reuters in a telephone interview from the southern Indian city of Chennai.

'We haven't stopped yet,' he added, declining to quantify how much gold the central bank had bought or how much of the more than $4.8 billion of the country's reserves were in gold.


I bet Gordon Brown thinks they do not have a clue!!!!!!!!!

[Dr_Who]

The west is selling gold and the east is mopping them up. Someone is gonna come out a winner and a loser. Who is getting it right or wrong?

[JBmurc]

The west is selling gold and the east is mopping them up. Someone is gonna come out a winner and a loser. Who is getting it right or wrong?

the east with out doult the new world super powers will come from the EAST is why they are buying the gold just like the USA UK etc did back when they grew into super powers in the 1800- 1970 etc

does are government even hold any Gold?

[peat]

does are government even hold any Gold?

not a single oz

http://www.rbnz.govt.nz/statistics/e...ep09/data.html

[JBmurc]

not a single oz

http://www.rbnz.govt.nz/statistics/e...ep09/data.html

Even more reason to convert your NZD to silver gold bullion the true world currency

[Dr_Who]

We (NZ) dont have any money left to buy gold. All our hard earned money have gone to paying for politicians holidays, social welfare, Treaty settlement and the Super. :mad:

We should learn from Singapore on how to manage our public money. The Singaporeans have got it right with huge cash surplus at the same time still taking care of its people.

[TTrader]

http://www.youtube.com/watch?v=Gk5aR...layer_embedded

[srotherh]

Lloyds closed at 83.4 pence
rbs 35.4pence

gold $1089

ok give it 5 years.

Hey Nevel
Should be called RB of Britain
They now own 86% of it according to this

http://www.wsws.org/articles/2009/no...scot-n09.shtml

British government mounts world’s largest bank bailout
By Jean Shaoul
9 November 2009

Alistair Darling, the Chancellor of the Exchequer, has just announced the world’s biggest bailout for a single bank in a bid to rescue the Royal Bank of Scotland (RBS).

One year after an initial bailout, the government is to put an additional £25.5 billion into RBS, in which it already has a 74 percent stake. In addition it has set aside a further £8 billion in case the bank runs into further trouble, as is widely expected. While RBS insists it will only use this £8 billion in a dire emergency, the annual fee for this sum indicates a high probability of failure.

In order to maintain the fiction that this is still a private and not a publicly owned bank, the government’s additional equity stake, equivalent to a further 12 percent stake, will not have voting rights, allowing RBS to retain its listing on the London Stock Exchange.

Despite the bailout, there is to be no attempt to control the bank’s activities. It will be business as usual as far as proprietary trading is concerned—trading in risky financial instruments. While the government has announced a cap on cash bonuses for top banking executives, this is only a deferment for three years and still leaves numerous ways of circumventing the cap.

The Treasury will also underwrite £282 billion of its toxic assets, less than the £325 billion RBS had applied for in February. This is in return for the bank agreeing to accept a larger proportion of the costs should it prove unable to recover the book value of its assets.

[Dr_Who]

Lloyds closed at 83.4 pence
rbs 35.4pence

gold $1089

ok give it 5 years.

I actually think that Lloyds is actually worth a look at during their huge rights issue next month. This will have to go into my long term portfolio. Dont get me wrong, I still hold gold through my IRN holding, but still think there is value in battered banks like Lloyds.

Great play if both have a natural hedge.