From Compare Silver Prices
“The main thing about Brexit and the rush into gold, and why silver is left behind, is that in the UK there’s a value added tax on silver,” David Morgan, of www.TheMorganReport.com, told CSP. “That’s why most people in the UK buy gold. They don’t want to pay the VAT on top of standard dealer margins. That’s why you haven’t seen people move into silver in the UK.”
VAT is in effect throughout European Union for silver purchases in most cases. In the UK, VAT is 20%. Gold has not been subject to VAT for awhile.
That despite the United Kingdom used silver as money. It used to be on the silver standard – hence, the pound sterling. The silver standard goes back to the Middle Ages. English currency was mostly silver until 1344, when a gold coin was put into circulation. Silver was the legal basis for the sterling until 1816, when Great Britain opted for a gold standard.
Tagged with: britain
After several years of refusing to make predictions on the price of gold and silver, Hat Trick Letter Editor Jim Willie is ready to make a BIG ONE…
Click Here For Golden Jackass Jim Willie’s Thoughts On Gold and Silver:
If you own gold and silver coins or miners, I’ll be short and sweet, with 2 words.
GIFFEN GOOD… (more…)
Y-Day is here! We’ve waited for years for the Chinese and their Shanghai Gold exchange to offer a competing Price “fix” to the existing structure out of London…and it all starts NOW!
How will this impact the gold market? At what price will the Shanghai Fix come in?
If this morning’s massive short squeeze is any indication…
Click Here For More On Gold & Silver Short Squeeze As Chinese Gold Bullion Market Opens:
The quickening has begun in earnest.
The end game has begun.
The following are major events and factors in the Global Currency RESET IN PROGRESS.
The sequence of future events might become frightening, as the new financial structure comes into view.
The potential for disruption to the USDollar- based supply chain and inventory system remains a high risk.
The onset of the return of the Gold Standard to trade, banking, and currencies is upon us…
Click Here For Jim Willie’s Full Hat Trick Letter: Return of the Gold Standard Is Upon Us:
After years of black-balling the GATA Chairman, CNBC invited Bill Murphy onto its SquawkBox program for a LIVE interview, which spun out of control rather quickly for the financial pundits when Murphy took the conversation to silver, and specifically where the white metal is headed when the banksters lose control of their price manipulation scheme:
Silver is their Kryptonite. If they lose control of silver, the game’s over! If the price of Silver takes out $18.50, its on its way to $100!
Click here for the GATA Chairman’s Full MUST WATCH Interview: