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Like that CME trader quipped when Mr. Corzine’s MF Global went bust in 2011: You know that you own it when you can stand in front of it with a rifle. GLD is convenient until the SHTF, then it ceases to be much of a hedge against uncertainty.
So far it has been just fine ,even through an almost complete global financial collapse in 2008 .....odds are it is safer with them then your hands.
So far it has been just fine ,even through an almost complete global financial collapse in 2008 .....odds are it is safer with them then your hands.
Did you read the Forbes article you linked above? HSBC makes Wells Fargo look like a Baptist picnic, and they are fronting GLD. HSBC is the Lady from Shanghai.
Did you read the Forbes article you linked above? HSBC makes Wells Fargo look like a Baptist picnic, and they are fronting GLD. HSBC is the Lady from Shanghai.
Yes I read it ....but the reality is there really has been no issues ...like everything else , you can take anything and blow it up bigger than life and it looks like things will implode ...in the end much ado about nuttin....one can use multiple etfs if they are nervous
I agree with you.I know a lot of goldbug friends and some dont even dont believe in the stock market.I agree with you.I dont get the appeal of gold either because no store or gas station is going to accept a gold coin.Also, if i really was preparing for the end of the world as we knew it.I would buy lots of guns,MREs, non-perishable food,water,land and ammo, fuel etc.
everyone in my church frind group thinks im a idiot for trusting index funds,stocks over gold.
Diversification I believe is the correct way to go. Some gold is ok. Perhaps 10% of your investments. If things really hit the fan gold will likely skyrocket and cover all your other losses. And since that scenario is very unlikely you will most likely make a little money on gold over time.
Diversification I believe is the correct way to go. Some gold is ok. Perhaps 10% of your investments. If things really hit the fan gold will likely skyrocket and cover all your other losses. And since that scenario is very unlikely you will most likely make a little money on gold over time.
There are actually optimum levels of gold based on studies on allocation ,for best results , not pulling percentages out of our butts
Did you read the Forbes article you linked above? HSBC makes Wells Fargo look like a Baptist picnic, and they are fronting GLD. HSBC is the Lady from Shanghai.
GLD has had no problems to date which stands to reason it probably never will. It has been our personal ATM machine for years now.
Nothing is ever a problem —- until it’s a problem
Problems are only problems when one elects not to rebalance accordingly. The key here is an iron tight portfolio. If problems arise then it is time to rebalance.
Problems are only problems when one elects not to rebalance accordingly. The key here is an iron tight portfolio. If problems arise then it is time to rebalance.
If the custodian messes up or does not carry enough insurance and the gold is stolen or missing they are the ones who have to make good ...so rebalancing has nothing to do with the custodian or the sub custodians they can farm out to , if the custodian or sub custodians fail to be able to make good on issues that arise you lose your money.
I suggest you watch the video I posted above because apparently you have no clue how important a role the custodian plays
Like that CME trader quipped when Mr. Corzine’s MF Global went bust in 2011: You know that you own it when you can stand in front of it with a rifle. GLD is convenient until the SHTF, then it ceases to be much of a hedge against uncertainty.
CME was on top of that like white on rice. I forget now, but they only got to trade naked for a day before they were shut down. CME plunged on the event, and it was such a stupid fall that I moved over half of my investments in CME on that move. Sadly, before they were cleared I had an anxious home buy that needed funding, but it still made money.
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