Don’t Waste Your Money
Do you participate in or advocate making monthly investments in gold and silver ETFs?
A: No. There is too much potential for fraud. Forbes reported last year:
Regular shareholders have no rights of redemption and the gold is not required to be insured by the Trust, which is not liable for loss, damage, theft, nor fraud. Shares are bought in the open market, only after Authorized Participants decide to place or sell them. Therefore a retail investors (sic) doesn’t actually “own” gold, but an asset that is backed by gold and represents a certain quantity of the yellow metal. Skeptics have raised doubts over the trust’s management of its physical gold, with questions over how much is actually held. HSBC, the custodian, is very secretive regarding its vault.
Don’t waste your money. Buy physical gold and silver and hold it in your possession. Trust no one with it, and tell no one but immediate family you have it.
Bob Livingston is an ultra-conservative American who has been writing a newsletter since 1969. Bob has devoted much of his life to research and the quest for truth on a variety of subjects. Bob specializes in health issues such as nutritional supplements and alternatives to drugs, as well as issues of privacy (both personal and financial), asset protection and the preservation of freedom.
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