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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?

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[–] • 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.