Marc Faber says hold PHYSICAL Gold OUTSIDE of the U.S.

[clb09]

He also expects a total global fiscal meltdown in 1Q 2009:

http://www.youtube.com/watch?v=9HKN-...eature=related

[DFF]

I wonder if he considers GoldMoney to be "physical gold."

On a side note; I soooo wish I was in Zurich right now on my way to a Swiss bank to deposit about 80 million federal reserve notes (which would quickly be converted to Yen, Euros, Sterling and Swiss Francs).

[danberkeley]

I wonder if he considers GoldMoney to be "physical gold."

On a side note; I soooo wish I was in Zurich right now on my way to a Swiss bank to deposit about 80 million federal reserve notes (which would quickly be converted to Yen, Euros, Sterling and Swiss Francs).

No. He means having it in your immdiate control.

[jonahtrainer]

I wonder if he considers GoldMoney to be "physical gold."

Probably. GoldMoney is not like 'paper gold' ETFs, etc. Immediate control of bullion in another country ... good one

[LibertyEagle]

No. He means having it in your immdiate control.

How would one do that and at the same time have it out of the country? What am I missing here?

[danberkeley]

How would one do that and at the same time have it out of the country? What am I missing here?

Well, can you go to the GoldMoney vault and demand physical gold?

[jonahtrainer]

Well, can you go to the GoldMoney vault and demand physical gold?

Yes, with no restrictions so long as you have enough ounces for one of the 400oz bars.

Ability to Demand Delivery of Gold. According to the User Agreement under VIII. Storage “E. A User may, by providing GoldMoney with delivery instructions, which instructions must be in the form prescribed from time to time by GoldMoney and the Vault, at any time request GoldMoney to change the goldgrams and silver ounces in his Holding into grams of gold or ounces of silver that are available for physical delivery to the User, provided that there are sufficient goldgrams and silver ounces to take delivery of a London Good Delivery bar of gold, which bar weighs approximately twelve thousand five hundred (12,500) grams, or bar of silver, which bar weighs approximately one thousand (1,000) ounces. GoldMoney will not charge a fee for its service, but fees may be charged by the Vault for acting on the delivery instructions.”

[LibertyEagle]

Well, can you go to the GoldMoney vault and demand physical gold?

Huh? I didn't say you could. What I'm asking is HOW one can do what Faber is saying and still have it in your immediate control. I am asking you a question.

[DFF]

NM.

[LibertyEagle]

Yes, with no restrictions so long as you have enough ounces for one of the 400oz bars.

How do you know they actually have the gold?

[nate895]

How do you know they actually have the gold?

If they didn't, they'd be up for a lawsuit, and probable jail time for fraud.

[danberkeley]

Yes, with no restrictions so long as you have enough ounces for one of the 400oz bars.

I stand corrected.

Huh? I didn't say you could. What I'm asking is HOW one can do what Faber is saying and still have it in your immediate control. I am asking you a question.

Huh? I was asking you a question as well.

[LibertyEagle]

If they didn't, they'd be up for a lawsuit, and probable jail time for fraud.

You mean like Comex?

[LibertyEagle]

Huh? I was asking you a question as well.

lol.

I don't have any money with GoldMoney. Even before this thing from Faber, I have been wondering how one could get gold housed safely and securely in another country. I was hoping you knew. Guess not.

[danberkeley]

lol.

I don't have any money with GoldMoney. Even before this thing from Faber, I have been wondering how one could get gold housed safely and securely in another country. I was hoping you knew. Guess not.

You could hire someone in another country with guns to guard your stash.

[gonegolfin]

No. He means having it in your immdiate control.

This is in contradiction with his recommendation of holding Gold outside the US.

GoldMoney is an excellent option as it is allocated storage outside of the country.

Brian

[gonegolfin]

Well, can you go to the GoldMoney vault and demand physical gold?

You can either take delivery at the vault or have them ship it to you. You pick the bar(s) from their listed inventory. Sizes range from about 360 oz. to 420 oz. You can do the same with Silver. Silver bars hover around 1000 oz.

Brian

[danberkeley]

You can either take delivery at the vault or have them ship it to you. You pick the bar(s) from their listed inventory. Sizes range from about 360 oz. to 420 oz. You can do the same with Silver. Silver bars hover around 1000 oz.

Brian

WHere is their vault(s) located?

[muh_roads]

How do you know they actually have the gold?

People who are a lot more wealthy with a lot more on the line than you trust in these institutions. They are called Private Bullion Custodians. You can't expect generational wealthy families to have all that metal sitting in one location under their bed.

[LibertyEagle]

People who are a lot more wealthy with a lot more on the line than you trust in these institutions. They are called Private Bullion Custodians. You can't expect generational wealthy families to have all that metal sitting in one location under their bed.

You know for a fact that they trust GoldMoney? Proof? And how do you know how much money I have? You don't.

I guess one question I have about GoldMoney is whether an account there is a true custodial account. Another is, if you're buying the gold from an American company, and thus are on the books here, what are you gaining from storing the gold in another country? If gold is confiscated here, the records will still show that you hold it. So, what's the benefit?

[gonegolfin]

I guess one question I have about GoldMoney is whether an account there is a true custodial account.

All of this information and much more is available on their website.

Brian

[gonegolfin]

WHere is their vault(s) located?

London and Zurich.

Brian

[danberkeley]

London and Zurich.

Brian

I stand totally corrected on this issue. Yup...

[Josh_LA]

No. He means having it in your immdiate control.

immediate control, and outside of the country....am I missing something? should I move out with it too?

[danberkeley]

immediate control, and outside of the country....am I missing something? should I move out with it too?

re-read the entire thread.

[Josh_LA]

You could hire someone in another country with guns to guard your stash.

if I had money to hire somebody overseas to gun guard my gold, I'd really wanna know why live here in America.

[the count]

You could hire someone in another country with guns to guard your stash.

Doesn't Peter Schiff''s company have a service like that?
http://www.europac.net/

[Dr.3D]

Doesn't Peter Schiff''s company have a service like that?
http://www.europac.net/

Might want to watch out for the Perth mint.
http://silverstockreport.com/2008/perth7.html