.jpg)
Apple is widely expected to announce a price tag of at least $10,000 on its new watch called the Apple Watch Edition, when it shows off its watch series at a press event on Monday, reports FT.
According to the details released so far, the premium device will offer no additional features or functions above those in the aluminium Apple Watch Sport, which starts at just $350, except that it will have an 18k gold case and buckle. Estimates are that as much as 2 ounces of gold will be used in each watch.
Think of it as the ultimate in fine craftsmanship and luxury protection against hyperinflation!
You can't wear 2 ounces of Bitcoin and nobody would buy a watch made with 2 ounces of government printed paper money.
-RW
$10k for a watch that needs to be charged every day other wise it stops beeping at you.....hey wait minute.
ReplyDeleteFor $10k you could get a gold medallion Mr. T would envy, and you wouldn't have to take it off when you got in the jacuzzi.
ReplyDeleteWe've had bad deflation this year. We measure inflation/deflation by the price of gold. Remember? Gold was 1290 a few months ago. Now it's 1163. That's an annual rate of deflation of 47%/year. Ooops.
ReplyDelete
DeleteHow The World Is Being Fooled About Chinese Gold Demand
Kindly note the pattern
There is a story being told to the masses about Chinese gold demand that is grossly incorrect. The huge discrepancy between numbers from the World Gold Council (WGC) and actual gold demand is so wide yet cunningly hidden I must conclude there is essential information about physical gold demand deliberately kept privy.
Let’s go back to April 2013; the price of gold made a nosedive, which spawned an unprecedented physical buying spree across the globe, most notably in China. Withdrawals from the vaults of the Shanghai Gold Exchange (SGE), that equal Chinese wholesale demand, closed at 2,197 metric tonnes December 31, 2013, up 93 % y/y.
However, the WGC (the global authority on gold) initially stated Chinese consumer gold demand had reached 1,066 tonnes in 2013, an astonishing 1,131 tonnes less than wholesale demand. In the China Gold Association (CGA) Gold Yearbook 2013 it was disclosed China had net imported 1,524 tonnes and domestically mined 428 tonnes. Without counting scrap supply this adds up to 1,952 tonnes; adding scrap total supply has been well over 2,000 tonnes. It’s impossible consumer demand was only 1,066 tonnes.
https://www.bullionstar.com/blogs/koos-jansen/how-the-world-is-being-fooled-about-chinese-gold-demand/
amazing how they keep it down.
I love Apple products and my buy an Apple Watch, the entry level model, when the line is released, but for $10k, I'd definitely buy a solid-gold Rolex first. 1. More than the piddly two ounces in one of those and 2. I can give it to my son or grandson, who'll find that it increased in value, which you can't say for the top-of-the-line Apple Watch
ReplyDeletePeople with throw away money will be the ones primarily buying these, i.e., those right at the trough.