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To: Perspective who wrote (228253)	3/14/2003 6:21:18 PM
From: patron_anejo_por_favor	Read Replies (2) \| Respond to of 436259

What's the dollar value of a single gold futures contract? 100 x POG = $33,000? Correct. I know everybody seems to be actually getting physical and putting it in lock boxes - is it due to some trouble with the nature of futures trading, or is it concern over counterparty risk? That and the fact that you can more quickly get your hands on it and move it to safety if it appears the government is getting ready to pull a seizure of privately owned gold again. In that setting, you'd really be farked if you were in the futures, they'd probably simply shut down the market! There is a place for futures, but I wouldn't concentrate all (or even the bulk) of my physical holdings there. It's also why I'm not crazy about "gold custodial accounts" and the like as pitched by Kitco. I know this sounds like paranoid rantings, but if gold REALLY takes off (ie, price > $800/oz), I'll probably sell a little and expatriate the rest (Switzerland or the Bahamas) to avoid confiscation. Just because gold would be criminalized here doesn't mean the rest of the world would go along (and in fact it probably means it would be MORE readily accepted elsewhere). Silver's a different story, and I think buying silver futures (and accepting delivery on contracts) is a viable way to accumulate it.