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Don't Waste Your Money

August 27, 2012 by  

Dear Bob,

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.

Best wishes,

Bob Livingston

is an ultra-conservative American and author of The Bob Livingston Letter™, founded in 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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  • Kevin Beck

    I agree. The ETF’s only work to act as short-term trading vehicles, not permanent investments.

    If you store the gold on your own premises, then your storage costs are almost zero. You don’t have to pay the fund’s share of expenses for the “investment.” And your “investment” is a certificate that says that you are only entitled to the dollar value of your shares upon sale/redemption. Why buy a substitute when you can buy the real thing?

    • ben tjoa

      The ETF is for speculative objectives/short term only, for swing trading and cash flow purposes,use it much like covered calls in the equities market.

      The drawback for owning physical gold is theft/burglary in the house.I had that happen
      with my collection of dozens of cameras and accessories/ lenses and my knives collection on many occasions!

  • Graystroke

    also Invest in a good safe. I bought one at a Houston gun show that has a thermal locking system. Should anyone try to use a torch to burn through it will release the tumblers and lock the entire mechanism. Only the dealer has the knowledge to open the safe. Then you’re in need of another one!

    Buy gold & silver in 1/4 & 1/2 ounce also they are more affordable and may be easier to barter with since the value will be less and the chance of losing out may be diminished.

  • Mable 8

    I wish you would write an article on (1) how george soros obtained his ill-gotten gains, and (2) why george soros is now buying up gold ingots all over the globe….he is certainly dumping his dollars, US or other currency, to ensure his ilicit wealth. He wants to not only own the world’s wealth, but he wants to control every aspect of it as well.


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