Perth Bullion Liquidation

Getting a safe is a great idea but obtaining firearms for self defense is not legal in Australia, definitely don't do that.

Instead I'd be getting a decent security system with an audible alarm and cctv.

 

As i said above, im not advocating anything illegal. It is not illegal to own a firearm, but i find it is quite common amongst the stacking community. Firearms should be a component considered as part of other security measures, both because of their controlled nature and their potential security uses.

If you have a stack significant enough to require an SDB, I would suggest that you can afford other household measures such as alarms, cameras, window shutters, security doors and even a watchdog if youre so inclined. If you cant afford these measures then perhaps look at liquidating some of the stack to make the rest more secure.

The problem is that these are all deterrents and there is no wonder-product for secure storage of precious metals. Determined and informed thieves will find your stack. Consider consolidating your stack into smaller, more valuable items (i.e bulk silver vs fractional gold) that you can split and store in separate locations.

Like with most things in life, you need to weigh the potential risks against the benefits of ownership. For me, secure storage that doesn't involve counter-party risk is safer than protecting against potential burglary or natural disaster. There are too many variables not in my control if i store in an SDB.

Security needs to be pro-active and creative. A safe in the garage or closet at ones primary place of residence is probably just as bad as an SDB in terms of security. A strong room is not feasible for most. Everything is a balance.

 

Why even bother with a SDB when an option like the government guaranteed Perth Mint allocated program exists?
Now people are talking about guns, this is a just stupid.
Have a few coins at home to fondle if you want, but just put the rest of your metal into a guaranteed allocated program.

 

Some of us have moved into precious metals out of complete distrust of government policy. What use would it be for us to enter in to a government guaranteed program if we believe the government guarantee to be worth rat shit?

 

Fair enough. In that case welcome to the world of your making, good luck with your guns.

 

Agreed, but look at section IV of the banking act, you'd be classed a criminal if they want your gold and you don't hand it over

https://www.legislation.gov.au/Details/C2015C00201

 

Just to clarify I'm not a gun owner. Was a suggestion for those affected by the liquidation of Perth bullion and seizure of their personal belongings.

 

I don't think any government guaranteed program is guaranteed-full stop!

 

This is one of my concerns. In the context of a government gold buyback/seizure, how would anyone that refused to hand over their gold make any future use of it. Short of melting it down into jewellery, bullion could be rendered relatively useless.

 

Aquaregiain a drink bottle, or turn it to sand in a Japanese garden sculpture.

Like the Indian Governments gold scam they will even pay you interest, Just dont ask for it back.

 

All good ways to hide it but what about a practical use. No one will trade for it if they'll have to explain to the government how they got it.

 

Sorry thats to get it out of the country should we get the order to Give our gold to the reserve.
I also keep some nuggets for trade you can find them any time.

 

Hi all,
Gotten into the basics of why we are all here as we can't help ourselves!!!!

But back to Perth Bullion Liquidation:

Does anyone here have a copy of the insurance terms from PBC to SDB holders? This is a very important consideration for anyone undecided about signing the deed of release.

You might only be insured until you sign....

Thanks in advance!

 

apparently silver is not included in that legislation though. though i guess it wouldnt take them more than a month or two to change the law

 

By the way, I'm also curious as to how allocated storage is being treated right now. Has any allocated storage holders got their stuff back or is it the same situation like the box holders?

 

I think according to the release, allocated and unallocated storage holders are now creditors. This means they'll likely get pennies on the dollar.

 

It's much more guaranteed and safer than a private SDB company, as you are seeing here now with PB, and we have seen before with others.

 

I think I read it's only unallocated. (don't want to read it again to confirm)

 

Gold is (or was until R. Nixon did his thing in August 1971) the reserve metal so that's the first cab off the rank.

Plus silver would require 88 times the logistics!!