Wednesday, May 20, 2015

In India, Gold Is Not Only Money But Now Pays Interest

"Don't worry:  when the crap hits the fan, we'll return your gold.  We promise." - Indian banks

Folks, possessing physical gold is equivalent to having insurance against financial catastrophe.  Hence, why would one store it inside financial institutions?  The whole concept of owning physical precious metals bullion is to get it OUT of the financial system.

Custodial accounts are fine, depending on the jurisdiction.  Switzerland and Singapore come to mind.  Banks...not so much.

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