Accessing Private Vault

Discussion in 'Markets & Economies' started by GreatSouthernTime, Mar 23, 2020.

  1. 66rounds

    66rounds Well-Known Member Silver Stacker

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    One must be creative in terms of storing their stack. A vault in the city or a safe at home just won't do. It's definitely easier to store gold than silver on a weight basis.

    There is no safe way to insure your metals without people unnecessarily knowing about them.

    Everything is a compromise from:
    -Safest: Bury it deep (no insurance, highly inconvenient)
    -Middle Ground: Safe at Home (barely insurable, loss to theft or fire)
    -Most Insured: vault at alternative location (TPTB raid and seize all vault contents)
     
    Last edited: Mar 23, 2020
  2. SilverDJ

    SilverDJ Well-Known Member

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    The Perth Mint is the only vault that is government guaranteed.
    Unless you have specific metal you want to store, you could sell it all and convert to fully allocated bars in the Perth Mint.
    Cue the "but the government can take our metal" crowd.
     
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  3. SilverDJ

    SilverDJ Well-Known Member

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    If that's the case then having access to your metal is absolutely useless to you anyway.
     
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  4. madaw1

    madaw1 Well-Known Member

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    It is!
    The Government can change the rules in split of second,like in Virus case....
     
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  5. jnkmbx

    jnkmbx Well-Known Member

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    The government can take our metal, confiscation is not unprecedented. :p
    Perhaps diversifying holdings between paper, vaults, holes and mattresses is the answer for those who can't trust any one custodian. ;)
     
  6. GreatSouthernTime

    GreatSouthernTime Active Member

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    So many risks to each, not even bank deposits are safe right now so really it’s probably a combination of all.
     
  7. sammysilver

    sammysilver Well-Known Member Silver Stacker

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    I'd suggest we put together a Silver Stackers funded vault located in Broken Hill. One days drive from Melbourne, Adelaide, Canberra, Sydney and Brisbane. The downside is that there are so many alpha males on the site, that we'd all kill each other over the setting up!
     
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  8. fishduck

    fishduck Active Member Silver Stacker

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    I personally find that there we would be notified of the signs of this provided that you diligently look at the information before this would happen.

    I'll use a few examples

    1) Once we heard there was a shortage of toilet paper, we could have easily speculated that this will spillover to foods and essential items. Some people might have seen this when hand sanitisers were running now but I do see the shortage of toilet paper being a very good sign of the development.
    On the positive, it did take some time to fully develop where you absolutely cannot find toilet paper (during the development in the few weeks, it was still possible to find toilet paper)

    2) Before the falling of the stock market (I'll use the ASX 200 as this example), stocks were trading normally at 6-7000 even when there was news on the coronavirus in Australia, I think there was about a few weeks before you could get out before the stock market tanked

    So I think there will be some time to prepare should anything happen
     
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  9. sgbuyer

    sgbuyer Well-Known Member Silver Stacker

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    Diversification across different classes is the key. I personally think paper is more risky than stocks - at today’s depressed prices. The elites own stocks, they won’t confiscate themselves.
     
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  10. SilverDJ

    SilverDJ Well-Known Member

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    LOL
    The amount of physical gold in people's possession in Australia is almost nothing in Australia compared to other assets (super+cash for example) the government could confiscate. It would barely make a blip on the balance sheet if they "confiscated" it. Even even if they confiscated it, they don't just take it, you get paid for it. And if they did that then it would be illegal to own gold, so yeah, good luck with trading your private stack.
     
  11. jnkmbx

    jnkmbx Well-Known Member

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    Governments have a bad habit of not paying market price and contributing to the creation of black markets @[email protected]

    I reckon property and hard assets would be on their radar if the currency collapsed.
    There's no point in them taking super and cash in that situation.
     
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