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Gold/Mining/Energy : Gold and Silver Juniors, Mid-tiers and Producers -- Ignore unavailable to you. Want to Upgrade?

To: Proud Deplorable who wrote (7972)	3/15/2006 5:46:24 AM
From: grusum	Read Replies (1) \| Respond to of 78420

Claude could probably explain better but, buying from silver from 'goldmoney' should have exactly the same effect as you taking possession of the physical silver. goldmoney as i understand it simply stores the money for you. i trust them to hold my silver or gold for me, but i don't trust that my account will not get broken into. i think that goldmoney is on the up and up, but i fear the possible security flaws. when or if that fear is eliminated, i'd use goldmoney. anyway, using goldmoney to buy silver is exactly like taking possession of it. they can't mingle one customer's metal with another's. it's just the same as you putting your silver in a safe deposit box.

To: Proud Deplorable who wrote (7972)	3/15/2006 7:19:44 AM
From: TheSlowLane	Read Replies (2) \| Respond to of 78420

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.

To: Proud Deplorable who wrote (7972)	3/15/2006 9:31:43 AM
From: Claude Cormier	Read Replies (3) \| Respond to of 78420

RE, First Goldmoney is not an Internet company. It uses Internet. But it can also use other ways of communications. Second, you say you hold your silver... well that is OK I can respect that. The stuff is shiny and nice to look at. But that is not really practical as the stuff is bulky. It greatly limits your mobility. Goldmoney' fine prints are just fine. Nothing wrong with them. Of course they are not for people who want to have the physical under their mattress. There is a solutin for everybody who want to owns metals. As long as your are comfortable with it.