There are only a small number of companies that offer this service. They could have owned the gold through futures contracts at a lower cost than holding physical gold but the cost of bringing the gold in before AISC arrived would have cost a lot and disrupted their business model. These companies work on low margins. I'd be pulling all my money out of any company that offers these schemes immediately. There is a good chance one or more could go under. And if there is a ''bank run" you would want to be the first to get your money out.
I don’t know the company name but there is no risk to yourself or the forum if you name them.The name should be out there so people can act accordingly. To explain - there is no offence in telling the truth or repeating a fact. Truth is a defence in defamation. There is no court order that the company name is not disclosed so it’s not contempt. Plus you can’t defame a company that has more than 25 employees which is not relevant when the statement is true anyway. Plus, the big players already know the name. People were supposedly having trouble getting their money out earlier.
Also worth remembering that you can also “believe” something! Edit to add If any member believes they know any more details please feel free to PM cheers $
Is this the case that John Adams has been pursuing? The timing is right and I know that he has been wrestling with ASIC trying to get some action taken.
