Just a question. Is the silver that you own and Silver Saver hold for you backed up by physical silver that they personally store? Or is it simply a paper contract from a third party to them on your behalf?
it is the former. Silver you own, and they store for you. It is stored at a 3rd party facility (non banking), and you can inspect your lot of good any time. But only concern with solutions like these, is when the sh*t hits the fan, is it even possible to get the silver out. It's not like there are serial numbers assigned to these coins. lol. The good part is I can take delivery of the physical stuff. But I'd rather not. 1. no space 2. security. 3. I like the fact that I can 'trade' with physical silver. Meaning, if we get a run to 20'ish and I want to sell some, and maybe buy more on a pull back, I can. It doesn't require sending, shipping, calling in the physical stuf. I like that. My only concern is if 'chaos' happens, and the banking system shuts down, then what?
We had a member here who used to go by the saying "If you can't bone it,you don't own it" I always thought that was a common sense statement of clarity,old fashioned as it may be. REDBACK
Used to? Makes complete sense to me too but I also like the previous post by Barsenault where he says "3. I like the fact that I can 'trade' with physical silver. Meaning, if we get a run to 20'ish and I want to sell some, and maybe buy more on a pull back, I can. It doesn't require sending, shipping, calling in the physical stuf.'
Agreed - Its time we stopped investing and trusting big corporations backed by government. They are not the solution but the very cause of the problems we currently have. I have no doubt that big banks like Lehman and corporations like Enron were only considering their customers, when it all went pear shaped. Nothing has changed and only the Fat Cats have swapped seats. Do yourself a favor and don't trust corporations and governments. Treat them with the same contempt that they treat us. Do you for 1 second believe that our leaders give one damn about us. Similarly, big corporations are tied at the hip to government as since the last GFC are becoming indistinguishable from them.
Thank you and I agree with this except for one small point. As for who is tied to who's hip I would say it is the other way around. It seems to me that big business well and truly has the government hog tied to its hip. Anyway, I would just like to learn as much as I can about the best investment options for silver. I know there is no magic right answer. Have had a go in the share market for a number of years up to and unfortunately through the GFC. Finally ready to try my hand in these precious metals.
A force majeure is a suspension of obligations while the event/situation mentioned under the force majeure clause is in existence. When that situation stops the force majeure is ended and the obligations continue. What you are talking about is an expropriation.
Only if the increased demand coincides with us being completely unable to get any raw gold to replace it and make new product I don't think the high grading is so bad that in the short term supply will be crimped. We are only using about 10% of our 300-400 tonnes as coins, so no risk we won't have enough gold to make coins. But in a huge price increase those mines low grade stuff will suddenly become profitable so they will be able to mine gold and keep producing. You second sentence is talking about expropriation, which I've covered here http://goldchat.blogspot.com/2008/11/australian-gold-confiscation.html - I don't think nationalisation will play out as simply as you say. Look what a stink WA does about a bit of GST, what do you think we will do when the Feds want to steal all our gold? Maybe Gina might refound her dad's Westralian Secession Movement https://en.wikipedia.org/wiki/Secessionism_in_Western_Australia worried that in such a situation the Feds will go after more assets than just gold.
I found this definition "force majeure' - unforeseeable circumstances that prevent someone from fulfilling a contract. 'Expropriation' The act of taking of privately owned property by a government to be used for the benefit of the public. yes you are correct two different things.
Only talking about where the value is in paying premium over spot. So buying physical or allocate or unallocated Gold/Silver has a "Premium" attached when you make the purchase. Premium you pay over spot when you buy is a one off payment you pay for owning The Insurance Policy. Premium on all Insurance Products only last 12 months and then the Insurance Policy expires, but with Gold/Silver assets you pay a "One-Off" premium and you own and know the Insurance Policy will pay out. whenever. When you buy allocated or unallocated do you still pay a premium? or is it cheaper.
Has anyone here has opened an account in BullionStar Vault Gram? I read in their web that Vault Gram is allocated unsegregated storage, which means that it is backed by physical metal in their vault but you can't take physical delivery out their vault. Is that safe if something like sudden financial collapse happens, considering that BullionStar is one of the most reputable PMs seller in Singapore? They said that you can buy from 1 gram of metal, and they cost you a storage fee for a fraction of a percent per year.
