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I was talking to an older gentleman about the price of gold and he said he had some but not in physical form. how would you access your gold or anything like that if the banks crash and close their doors?

I was talking to an older gentleman about the price of gold and he said he had some but not in physical form. how would you access your gold or anything like that if the banks crash and close their doors?

(post is archived)

[–] • 3 pts

As instability heightens and crashes occur, gold and silver real physical value will "decouple" from the toilet paper price.

"Spot price" will plummet as it is exposed for the fraud it is and the manipulators of the LBMA COMEX ETC lose credibility.

But as for gold and silver, it will be repriced by a free market of exchange as the only real money, God's money, ever.

Also of note is that God's silver to gold ratio is 10/1 (the rate at which it is mined) but toilet paper silver to gold is 83/1. Upside potential?

[–] • 2 pts

As usual, you wouldn't. Just a reminder, the state of Texas demanded their gold from Fort Knox. The federal government refused. Texas insisted. The government said they could come to inspect their gold but could not physically touch it. Texas sued. Texas won. The federal government said they required some 30-90 days to obtain the gold.

Gold has been pilfered and stolen from us and is obviously not in our own banks/reserve system as federally required.

Texas now runs their own metals depository for themselves and other states. I don't know if it's available to individuals. Regardless, they exist because anything on paper is not physically available, all the way up to the federal government itself.

[–] • 2 pts

Tx working on gold back currency.

[–] • 1 pt

I don't know if it's available to individuals.

I believe Texas's is, but not sure about other states'.

[–] • 2 pts

Commodities investing is pretty basic, at least to me. If you're not physically holding the commodities, then you "own" nothing but a piece of paper. Markets fail, all you have is paper. Always take physical delivery of precious metals investments. Always. Word to the wise, they're expensive. Do your homework if you plan to purchase any

[–] • 1 pt

Paper commodities are all futures contracts. Futures contracts have value in good times. But in bad times...unless you have a way to force collection, they arent worth the paper they're printed on.

[–] • 0 pt

Really hope we never see those bad times. I can't imagine a crash... Well, I can, but I don't want to have to live in that world.

[–] • 1 pt

Paper gold is worth zero unless you can get physical gold. In a crash, it becomes worth zero and the real gold price goes up a lot.

[–] • 1 pt

you don't

also

if it is some "digital" proof of ownership it may disappear entirely

[–] • 1 pt

If you can't touch it and put it in your pocket, you don't own shit. But silver and gold from a physical location and take it home so you can get to it when SHTF

[–] • 1 pt

Kek. Makes reasonable toilet paper in a pinch. -edit He ‘thinks’ he owns gold. He does not in that scenario. He does if he gets physical delivery before that.

[–] • 1 pt

The general public cannot take physical delivery from an ETF. He can settle his account in cash and go buy real money.