The SMH/The Age has just published this database of all our politicians' perks, donations, investments and anything else that might influence their decision making: http://www.smh.com.au/national/political-interests I searched for "gold", "silver", "bullion" and "precious metals". Two hits. Albertus Johannes Van Manen (Liberal member for Forde): in 2010, his family super fund had investments in gold (via ETFS Metals). Gregory Andrew Hunt (Liberal member for Flinders, Victoria): in 2012 his wife bought and sold gold ETFs. Wow, what a diverse lot they are...
Is that roughly representative of about 2% (? is that right ?) of the population who buy physical/ETF? Both Liberal too.
0.8% (with 226 members of parliament). I mean, it's not like gold is our third biggest export or anything so...oh wait, it is.
They've got those pensions that kick in whenever they leave - at whatever age, and while still able to pull gigs as lobbyists or humanitarian crusaders. Natasha Stott Despoiler activated hers to go off and have a baby; now she's employed using her mouth for world peace somewhere or other. ^^^ I should acknowledge my team of researchers for the meat of the above
Oh yeah, my point being that I wouldn't be bothered with gold either if I were entitled to what the pollies legislate for themselves: http://www.smh.com.au/opinion/nice-perks-if-you-can-get-yourself-elected-20090704-d8jk.html Nice perks if you can get yourself elected July 5, 2009 Readers may recall the squawk that went up when baby-faced Bill O'Chee retired from the Senate a decade ago, walking away, in his mid-30s, with an indexed pension for life about $50,000 a year. He'd been in the Senate for just nine years. Damn nice work if you can get it. Natasha Stott Despoja opted for a more family-friendly lifestyle when she retired last year, after 13 years in the senate. Also aged in her 30s, she scored a lifetime pension just shy of $80,000 a year and generous "severance" entitlements allowing her to trot around the country by air, rail and road - for four years at taxpayers' expense. Advertisement The entitlement for severance travel benefits for MPs is six months' freebies if the MP has only served in one parliament, up to five years' worth for service in six parliaments. Stott Despoja was a hard-working senator who achieved many milestones in her service. The Federal Government's announced maternity leave scheme owes much to her dogged pursuit of the issue through the senate and in public campaigns. In a perverse way, Stott Despoja was a victim of an antiquated parliamentary pension system that was hatched when MPs traditionally went into politics as a civic duty after their private or other public sector careers. It was a safe bet that a lifetime pension 50 years ago wouldn't cost the public purse much because MPs entered politics late and left Parliament when old. Nowadays it's a different matter. Politics is a career path. Some sitting on the leather chairs in Parliament look like they're just out of school.
Could it be that they just don't tell anyone about physical PMs? They'd have to declare ETFs, as that is traceable. Being on a fiat gravy train probably has enough perks. Has anyone ever looked at how many politicians own several investment properties (more than 2). It's a significant number. Edit: And how needs PMs if you can guarantee your wage/entitlements will be indexed against inflation.
I'm not so sure if any would be i have my money on Malcolm Turnbull. I'm sure he would have some exposure to gold in one form or another.
I'd agree with you... but... I think any of the business-like politicians would subscribe to Buffet's (current) views on PMs, which is "they don't have a dividend". Turnbull would be a rent seeker, certainly.
The Senate..the unelected Swill. Bill O'Chee is the biggest fuckin leach I have ever dealt with or known. He fuckin milked the system...do some more digging on this guy if your bothered and you will see he was borderline illegal. Last I saw the little prick was in my office when he was working for a liquidation company trying to offload some retail property on behalf of a "client".
My thinking. PM purchases (especially bought over a longer term and in physical only) is very easy to hide, even with a $5k 'limit' for over counter cash sales in the picture. You could easily ramp up a million $ + physical holdings in a year doing this in pretty much any major capital city in Australia. Throw in some online sales at regular intervals and I think it would be very easy to stay off the radar and attain a considerable holding.
Not sure about buying....but some of them sold some, 167 tonnes. Just rang up a broker out of the yellow pages and said, "sell some of this archaic, sovereign security, yellow heavy stuff for us" "Whats that? Tender invitation? Mate I just rang you didnt I?" :/
