Thanks for a useful article. My gold is stored with Loomis in Switzerland and although it is Swedish company, I understand that the Loomis gold holdings in Switzerland are primarily governed by Swiss law, not Swedish law
Now I’m very concerned about my IRA gold and silver physical holdings held supposedly at the Canadian Mint through my custodian “I Trust Capital”. Should I really trust them ? Maybe not!
I would add Hong Kong. Could China confiscate it? Yes. But that would destroy their project to internationalize the yuan. That’s a high price to pay to rip-off some mass-affluent gammons.
Doesn't matter because government can declare it is illegal to own gold or silver. The same for crypto. Eventually it appears that every asset will be tokenized and then you no longer directly own the asset.
No. You hold a contract with SPROTT. It can be broken. You are probably not the first in line for any physical metal under that contract. Instead, buy bullion in coins or bars and accept the costs of storage and insurance as part of your wealth preservation plan. Precious metals are a store of value not a way of getting rich. Getting rich requires work.
Sprott is storing physical in Canada. IMO the Most serious ETF. Still, you are not Holding physical. The logistics of Holding physical can cause a headache. Physical is not a promise, no counterparty Risk.
If you don’t hold it, you don’t own it. Good luck trusting someone else with your metals when the SHTF.
Excellent, straightforward information. Thank you!
Thanks for a useful article. My gold is stored with Loomis in Switzerland and although it is Swedish company, I understand that the Loomis gold holdings in Switzerland are primarily governed by Swiss law, not Swedish law
Now I’m very concerned about my IRA gold and silver physical holdings held supposedly at the Canadian Mint through my custodian “I Trust Capital”. Should I really trust them ? Maybe not!
I would add Hong Kong. Could China confiscate it? Yes. But that would destroy their project to internationalize the yuan. That’s a high price to pay to rip-off some mass-affluent gammons.
Bottom Line: Don't buy gold because it won't do you any good.
Doesn't matter because government can declare it is illegal to own gold or silver. The same for crypto. Eventually it appears that every asset will be tokenized and then you no longer directly own the asset.
Is gold held in PHYS Sprott physical trust safe?
No. You hold a contract with SPROTT. It can be broken. You are probably not the first in line for any physical metal under that contract. Instead, buy bullion in coins or bars and accept the costs of storage and insurance as part of your wealth preservation plan. Precious metals are a store of value not a way of getting rich. Getting rich requires work.
Sprott is storing physical in Canada. IMO the Most serious ETF. Still, you are not Holding physical. The logistics of Holding physical can cause a headache. Physical is not a promise, no counterparty Risk.