Gold and Silver Juniors, Mid-tiers and Producers Message Board

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Gold/Mining/Energy : Gold and Silver Juniors, Mid-tiers and Producers

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To: Proud Deplorable who wrote (7972)	3/15/2006 7:19:44 AM
From: TheSlowLane	Read Replies (2) of 78419

r-e - I do both. The difference is that my bullion that is under GM's care and maintenance is insured by Lloyd's of London. Suppose one is very suspicious and accumulates physical silver, buying it with cash. You don't want to get a rider on your homeowner's policy because that is the same as declaring it. You don't want to store it in a safe deposit box because the banks can't be trusted. So you keep it at home. If you get robbed, you are SOL. Face it, there's risk in everything. I can buy and sell bullion at GM 24x7, and have the cash zapped into my (untrustworthy) bank account in seconds. If things look like they are starting to get really dicey, you can always liquidate your GM account or trade it for physical (by buying bullion at Kitco with GM, for example). I don't think that we will just go over the waterfall into global economic oblivion without hearing even a warning shot. The challenge will be to recognize it and respond in a timely fashion.

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