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Strategies & Market Trends : Heinz Blasnik- Views You Can Use -- Ignore unavailable to you. Want to Upgrade?

To: Wyätt Gwyön who wrote (3980)	12/29/2003 11:12:32 AM
From: Robin Plunder	Read Replies (1) \| Respond to of 4905

Darfot, it sounds like there is no strong motivation to shift assets out of ones country of citizenship in order to protect assets, although buying protection against a currency decline is of value. I have done this by putting a significant percentage of my assets in gold and gold shares. Jim Sinclair has commented on the recent suspension of excess SIPC insurance coverage for brokerage accounts, and has counseled that assets in excess of 500k be removed from these accounts, and presumably stored in a personal safe deposit box. Do you have some thoughts on this? I had always assumed that the SIPC was pretty much worthless anyway, since it does not protect one against fraud at a company that may drive down the value of ones shares. Does SIPC provide protection against fraud or theft from your account by your broker? Do you see the lack of SIPC as something that would drive a change in the amount of assets one should keep with a broker? Jim was speculating that the SPIC change was caused by fear of the mountain of derivatives that hangs over our economy, but I don't see how these actions would be linked to derivative fears. Thank you Robin