I wonder how many other major bullion dealers will be declaring bankruptcy in the future?
Worry is the interest you pay on a debt you may not owe.
"Paper money eventually returns to its intrinsic value---zero."----Voltaire
"Everything you say should be true, but not everything true should be said."----Voltaire
Don't worry, at least your dollars are safe with the bank holding them.
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
But it's OK for the COMEX to sell gold it knows that it can't deliver.
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
One thing I'll never understand, if these investors bought Gold and silver because they basically don't trust banks and governments, why on earth would they trust a company to hold their life savings in bullion?
"Gold is money, and nothing else" (JP Morgan, 1912)
"“Those who sacrifice liberty for security/safety deserve neither.“(Benjamin Franklin)
<< <i>One thing I'll never understand, if these investors bought Gold and silver because they basically don't trust banks and governments, why on earth would they trust a company to hold their life savings in bullion? >>
Agreed, they avoided the "too big to fail" banks and went with the "so small nobody cares if it fails" company. Ouch!
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
<< <i>A very comprehensive article on the challenges and possible rewards of bullion purchasing, absent the trust of a storage facility.
I feel immensely fortunate that I have yet to be taken to the cleaners by my purchases or sales in this area. >>
Same here. It's always a "balancing" act. (I have been very hurt a few times buying "fake" gold and silver coins/ jewelry/watches)…. and the buck always stops there.
Comments
<< <i>Our local bullion dealer went under. But the big deal is that the bullion they had stored for people--surprise--wasn't there after all.
Undoubtedly I'm preaching to the choir among this crowd, but the moral is: get your bullion in hand:
Link >>
I wonder how many other major bullion dealers will be declaring bankruptcy in the future?
Worry is the interest you pay on a debt you may not owe.
"Paper money eventually returns to its intrinsic value---zero."----Voltaire
"Everything you say should be true, but not everything true should be said."----Voltaire
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
<< <i>Don't worry, at least your dollars are safe with the bank holding them. >>
Just as safe as your stock "certificates" that are not registered in your name, or your broker's name. First come, first served.
This same story will continue to occur with bullion and coin dealers, and others who hold or manage your "stuff" for you.
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
Liberty: Parent of Science & Industry
In God We Trust.... all others pay in Gold and Silver!
"“Those who sacrifice liberty for security/safety deserve neither.“(Benjamin Franklin)
"I only golf on days that end in 'Y'" (DE59)
<< <i>One thing I'll never understand, if these investors bought Gold and silver because they basically don't trust banks and governments, why on earth would they trust a company to hold their life savings in bullion? >>
Agreed, they avoided the "too big to fail" banks and went with the "so small nobody cares if it fails" company. Ouch!
My YouTube Channel
I feel immensely fortunate that I have yet to be taken to the cleaners by my purchases or sales in this area.
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
<< <i>A very comprehensive article on the challenges and possible rewards of bullion purchasing, absent the trust of a storage facility.
I feel immensely fortunate that I have yet to be taken to the cleaners by my purchases or sales in this area. >>
Same here. It's always a "balancing" act. (I have been very hurt a few times buying "fake" gold and silver coins/ jewelry/watches)…. and the buck always stops there.