No word on the BRICS going gold backed at this point? The summit has been going on for 2 days now. I have not heard much from those that talk a lot about this.
Custody is essential. A paper “investment”, in an era of dematerialised stock certificates, pooled shares, multiple custodians and, of course, changes to the uniform commercial code, affecting the legal meaning of ownership (now beneficial ownership) per David Rogers Webb, isn’t an investment at all. Instead, it’s like leaving your valuables outside on the porch.
Since you can’t take possession of your shares in a company or an investment fund, there’s an argument against these forms of investment at all.
If I had room to take delivery of a stable commodity, I’d seriously consider that, too.
Mike; A lot depends on the purpose of investments. If "Investments" are for speculation in terms of "Fiat Currency" then storage becomes an issue. But, for those of us who are just looking for a bit of security, a storage container or locker will do just fine? The scale of my "Investments" is very limited. In lieu of Financial investments, I focus on what I call the "Availability Model". Most of us saw the effects of the recent (and very limited) Supply Chain Crisis. Therefore, I value assets on the basis of Utility and distance to the manufacturer. (1000 miles is a long way) Combine that with what may soon happen to the currency markets with the advent of the BRICS System??? Western currencies might soon have little value to the majority of the World's population...... Imagine if every item you own stamped "Made in China" suddenly costs 5-10X more????
In my opinion, ' Cash purchase of any item or material, a person will need in the future' is a very good investment! Purchasing what other people 'Will' need is a reasonable investment, Anything else is varying degrees of speculation....
How much wealth do you need and how long will you live???????????
Thanks Mike & Pandelis - Pandelis, yes in US/Canada you can take delivery of your share certificate as long as your shares aren't in a retirement account. I have done this in the past but I am getting to the point of seeing the banks hopelessly destabilized that my view is that evening holding gold & silver equities may be risky (not investment advice).
Mike, you are exactly right with respect to David Rogers Webb warning that Cede and Co. and the Depository Trust Corp control title to your shares and even Wikipedia notes: " Cede and Company (also known as Cede and Co. or Cede & Co.) is a specialist United States financial institution that processes transfers of stock certificates on behalf of Depository Trust Company, the central securities depository used by the United States National Market System, which includes the New York Stock Exchange, and Nasdaq.[1] Cede and Company is a shorthand for the phrase 'certificate depository.'[2] Appropriately, the word 'cede' means to 'give up (power or territory)'[3] because investors give up their stock and companies give up their shareholders to an intermediary.[4] " https://en.wikipedia.org/wiki/Cede_and_Company " If you don't hold it you don't own it." resonates. One could even say "If you don't hold it, you ain't getting it." A very dangerous situation when you are talking about lifeboats.
Here's the problem with that theory - the London silver market is party-to-party Over the Counter (OTC) trading. Each contract is different and there is no exchange to intervene to let the bullion bankers off the hook. Every purchaser of a London spot silver contract has the ability to directly sue for specific contract performance. So unless the UK suspends contract and common law, there is no free release. And liability would also exist in US courts against US banks.
This great chart tells no lies.....thanks for sharing David.
Bob
My pleasure Bob. Cheers.
Keep stacking!
No word on the BRICS going gold backed at this point? The summit has been going on for 2 days now. I have not heard much from those that talk a lot about this.
David; Is Andy Schectman's report of "Banks shorting another 6 Billion oz of silver", verified?
I am not sure what that means, Paul.
https://www.youtube.com/watch?v=hkvKADPwv8I
David, some say they (BRICS) will have to revalue the price of gold in order to make the "unit" work. Do you agree?
Gold will revalue itself as BRICS and other countries acquire gold for their treasuries.
In 2022, Russia said 1 gram of gold = 5,000 rubles.
https://aier.org/article/a-note-on-the-new-russian-gold-standard/
They didn't peg the ruble to gold. They pegged gold to the ruble...
Good luck with betting bankers can deliver paper when physical silver is demanded of them.
Custody is essential. A paper “investment”, in an era of dematerialised stock certificates, pooled shares, multiple custodians and, of course, changes to the uniform commercial code, affecting the legal meaning of ownership (now beneficial ownership) per David Rogers Webb, isn’t an investment at all. Instead, it’s like leaving your valuables outside on the porch.
Since you can’t take possession of your shares in a company or an investment fund, there’s an argument against these forms of investment at all.
If I had room to take delivery of a stable commodity, I’d seriously consider that, too.
Mike; A lot depends on the purpose of investments. If "Investments" are for speculation in terms of "Fiat Currency" then storage becomes an issue. But, for those of us who are just looking for a bit of security, a storage container or locker will do just fine? The scale of my "Investments" is very limited. In lieu of Financial investments, I focus on what I call the "Availability Model". Most of us saw the effects of the recent (and very limited) Supply Chain Crisis. Therefore, I value assets on the basis of Utility and distance to the manufacturer. (1000 miles is a long way) Combine that with what may soon happen to the currency markets with the advent of the BRICS System??? Western currencies might soon have little value to the majority of the World's population...... Imagine if every item you own stamped "Made in China" suddenly costs 5-10X more????
In my opinion, ' Cash purchase of any item or material, a person will need in the future' is a very good investment! Purchasing what other people 'Will' need is a reasonable investment, Anything else is varying degrees of speculation....
How much wealth do you need and how long will you live???????????
Thanks Mike & Pandelis - Pandelis, yes in US/Canada you can take delivery of your share certificate as long as your shares aren't in a retirement account. I have done this in the past but I am getting to the point of seeing the banks hopelessly destabilized that my view is that evening holding gold & silver equities may be risky (not investment advice).
Mike, you are exactly right with respect to David Rogers Webb warning that Cede and Co. and the Depository Trust Corp control title to your shares and even Wikipedia notes: " Cede and Company (also known as Cede and Co. or Cede & Co.) is a specialist United States financial institution that processes transfers of stock certificates on behalf of Depository Trust Company, the central securities depository used by the United States National Market System, which includes the New York Stock Exchange, and Nasdaq.[1] Cede and Company is a shorthand for the phrase 'certificate depository.'[2] Appropriately, the word 'cede' means to 'give up (power or territory)'[3] because investors give up their stock and companies give up their shareholders to an intermediary.[4] " https://en.wikipedia.org/wiki/Cede_and_Company " If you don't hold it you don't own it." resonates. One could even say "If you don't hold it, you ain't getting it." A very dangerous situation when you are talking about lifeboats.
Here's the problem with that theory - the London silver market is party-to-party Over the Counter (OTC) trading. Each contract is different and there is no exchange to intervene to let the bullion bankers off the hook. Every purchaser of a London spot silver contract has the ability to directly sue for specific contract performance. So unless the UK suspends contract and common law, there is no free release. And liability would also exist in US courts against US banks.
That was on the COMEX exchange. London spot/cash silver contracts are traded party-to-party directly.
If you don't HOLD it, you don't OWN it.
And if they WANT it, they will have to come and try to TAKE it.
Key element of the word "confidence" is CON... Paper gold and paper silver are just that. Paper.
The financial / banking confidence scam is falling apart and it seems wise to reduce exposure to the scam if at all possible.