Guest_ringledman_* Posted October 23, 2010 Share Posted October 23, 2010 I own a few ETFs for gold, silver, plat and pallad. I dont trust the ownership of these over the longer term. Basically I think the yanks will take possession at some stage to pay for their government bust. Likewise I dont really want to own gold coins in the house. What is the alternative that is safe and free from possession by a bankrupt government? Perth mint certificates? Cheers. Quote Link to comment Share on other sites More sharing options...
fallingbuzzard Posted October 23, 2010 Share Posted October 23, 2010 (edited) There is only real one safe alternative in a market dominated by central banks, governments and speculators. Exit at the right moment... I own a few ETFs for gold, silver, plat and pallad. I dont trust the ownership of these over the longer term. Basically I think the yanks will take possession at some stage to pay for their government bust. Likewise I dont really want to own gold coins in the house. What is the alternative that is safe and free from possession by a bankrupt government? Perth mint certificates? Cheers. Edited October 23, 2010 by fallingbuzzard Quote Link to comment Share on other sites More sharing options...
Roost Posted October 23, 2010 Share Posted October 23, 2010 spread betting is the key my friend Quote Link to comment Share on other sites More sharing options...
Tiger Woods? Posted October 24, 2010 Share Posted October 24, 2010 I own a few ETFs for gold, silver, plat and pallad. I dont trust the ownership of these over the longer term. Basically I think the yanks will take possession at some stage to pay for their government bust. Likewise I dont really want to own gold coins in the house. What is the alternative that is safe and free from possession by a bankrupt government? Perth mint certificates? Cheers. I don't trust ETFs. Just look at what happened to the value of some of them when the insurers were in trouble in 2008 - fell way below what they were supposed to track. There were certainly some anguished posts on HPC about them at the time. Bullionvault holds your gold in bailment, rather than as an asset of theirs, so that is one option. Theoretically, your gold should be safe, provided they are not a scam and the Swiss don't just confiscate stuff. I use them for some of my gold holdings. Perth Mint certificates are backed by the Western Australian state government iirc, so hardly a hedge against goevrnments going t*ts up. There were also some rumours around of funny goings on at the Perth Mint (e.g. allocated gold not actually having been allocated) and when gold prices got low they refused to take orders for a couple of months (late 2008), again iirc. I'm an Australian living in Australia and I just don't completely trust the Perth Mint to properly honour their certificates in a crisis, or even their allocated gold accounts to be honest. I don't have any hard evidence of this, just that is how the business strikes me. Quote Link to comment Share on other sites More sharing options...
Beginner Posted October 24, 2010 Share Posted October 24, 2010 If I were you I'd keep it in the house, the wealth density is so high you can be very very creative in your hiding. Quote Link to comment Share on other sites More sharing options...
GinAndPlatonic Posted October 27, 2010 Share Posted October 27, 2010 If I were you I'd keep it in the house, the wealth density is so high you can be very very creative in your hiding. [/quo Have replied to your other post ... Quote Link to comment Share on other sites More sharing options...
Old Nis Posted October 28, 2010 Share Posted October 28, 2010 Perth Mint certificates are NOT the way to go. There are far too many rumours of them selling many times more certificates than they hold in silver. They are not allocated accounts as far as I am aware, so your paper certificate could end up being framed on the wall as a worthless souvenir. All holders of paper silver/gold should be aware that they (1) have very little guarantee of the metal existing (Bullionvault and Goldmoney being two exceptions) and (2) can only be redeemed in FRNs, not actual metal, unless your holdings are substantial enough to take delivery of a London Good Delivery bar (400oz gold, 1000oz silver). It is my belief that a LGD ingot can only be shifted to another LBMA-registered vault. If you take possession in your hands (or more likely, van) then it immediately loses the LGD status, so you are likely to be moving it from one place where it could be confiscated to another of the same ilk. Unless, of course, you don't care about that and have a ticket to Austria... http://www.dassafe.com/index.html Watch the video and think of Jason Bourne. Quote Link to comment Share on other sites More sharing options...
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