The Epic American Credit and Bond Bubble Laboratory Message Board

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

To: Tommaso who wrote (30569)	4/14/2005 1:20:27 PM
From: Claude Cormier	Read Replies (2) of 110194

"Banks all started much like Goldmoney, issuing receipts for gold in the safe of the goldsmith, or factor, or after a while, the money lender." No. Goldmoney does not issues receipts which are a liability. Goldmoney has no liabilities on his book. When you buy gold, it is held by the vault in the name of goldmoney users (me and others), not goldmoney themselves. So I do not own a liability but really have title in unallocated gold located in a LBMA vault. "I did go back and study the Goldmoney site again (right after I posted to you) and they certainly do try to reassure you that everything is exactly as claimed and is perfectly safe. And it may well be." And it really is. "But for my own gold holdings, I am going to stick with the Krugerrands, Maple Leafs, and some oddball collectible pieces that fell into my hands." It is a legitimate idea. I have some. But I prefer the flexibility (ability to make payments to anybody in the world at any time of the day), transportability (ability to sell it and cash it anywhere in the world) and safety (one of the best fully insured private vault in the world), ease of buying (automatic monthly) and low ffees (almost no premium to spot) of Goldmoney. "But I do think that it is essentially a revival of the older banking systems." Not so. For the reason I give you above. Also there is no fractional banking at Goldmoney. It is the equivalent of a digital gold coin with the gold sitting in the form of 400oz certified LBMA bars in a secured LBMA vault. " I sure do wish the Swiss had not dropped their 100% gold backing. Do you happen to know what percentage of gold they still have behind the Swiss Franc, if any?" This still have a big stash of gold...but not sure of coverage. Can I suggest that you start buying $50 per month just to get the feel of it. Then you decide in 2-3 years. If you open a holding, I will be happy to click you your first milligram.

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next