This page has been archived and commenting is disabled.
Gold’s “Bigger Question” Is Where To Store It - Marc Faber
Gold’s “Bigger Question” Is Where To Store It – Marc Faber
Marc Faber has again encouraged individuals to own physical gold, to be wary of possible government confiscation and said that the big question is where to store your gold.
“ … But I would say an individual should definitely own some physical gold...The bigger question is where should he store it?"
“Because I think if we think it through, the failure of monetary policies will not be admitted by the professors that are at central banks.
They will then go and blame someone else for it and then an easy target would be to blame it on people that own physical gold because they can argue, well these are the ones that do take money out of circulation and then the velocity of money goes down … we have to take it away from them.”
That has happened in 1933 in the US...
With our brilliant governments in Europe that follow US policies and with the ECB talking every day to the Federal Reserve, they would do the same in Europe, take the gold away from people.”
Marc Faber is an eloquent advocate of owning physical gold which he describes as being a way to become “your own central bank.” He believes an allocation to physical gold will serve as vital financial insurance and that Singapore is the safest place to own gold in the world today.
Watch the complete interview with Marc Faber on the GoldCore.com blog
Watch Marc Faber Webinar on Storing Gold in Singapore
Download Essential Guide To Storing Gold In Singapore
DAILY PRICES
Today’s Gold Prices: USD 1154.40, EUR 1014.95 and GBP 757.16 per ounce.
Yesterday’s Gold Prices: USD 1164.20, EUR 1021.54 and GBP 758.14 per ounce.
(LBMA AM)

Gold in USD - 1 Year
Gold was marginally higher yesterday and finished $5.10 higher, closing at $1162.40. Silver closed at $15.85, up $0.1 for the day. Euro gold rose to €1023 per ounce, platinum gained $16 to $993 per ounce.
IMPORTANT NEWS
Gold logs highest close in 3 months – MarketWatch
Gold Rises to Seven-Week High on Weak Dollar, Likely Rate Delay – Bloomberg
Gold hits 3-month high as traders bet on U.S. rate hike delay – Reuters
Fed officials seem ready to deploy negative rates in next crisis – MarketWatch
House prices tumble as buyers caught in a rent/deposit ‘Catch 22? – Independent
IMPORTANT ANALYSIS
The world economic order is collapsing and this time there seems no way out – The Guardian
World cannot spend its way out of a slump, warns OECD chief – The Telegraph
Bron Suchecki: Bundesbank’s gold bar list would fail an audit – GATA
Why Gold Is Surging: BofA Says To Expect A “Massive Policy Shift In 2016? – ZeroHedge
Fed Quietly Revises Total US Debt From 330% To 350% Of GDP, After “Discovering” Another $2.7 Trillion In Debt – ZeroHedge
Download Essential Guide To Storing Gold In Singapore
Breaking News and Research Here
- GoldCore's blog
- 28351 reads
- Printer-friendly version
- Send to friend
- advertisements -




Gold lost in the boating accident is the safest place to store it. I traded all mine for the pet rocks in my garden so I have no risk of losing it in the boating accident. In hindsight I do admit the pet rocks were not a wise deal.
I gave it to some Call Girl for safe keeping... I just can't remember which Girl.
Gold should see 1200 briefly in the coming days/week but its a strong sell between here and that level if you are trading it short term. The actual probability of gold futures touching 1200 in the next two weeks is trading 40% right now vs 8% probability of touching 1100 in the same time. Clearly the risk reward favors a play for 1100
At this time I feel we will see that retest of 1100, maaaaybe a spike down to 1050 on forced liquidations and or capitulation marking the cyclical bottom for gold.
The only scenario I see that takes gold appreciably below this current level and potentially much lower than here is if the FED raises rates into year end or early next year and that really gets GFC 2.0 into full swing during which time people sell everything because they have to. Even in that scenario I think gold outperforms on moar QE unless the FED really sticks to its guns and keeps raising rates in the face of a bear market. This would bring gold 50-75% lower than current levels I think. This would also usher in the paper gold price decoupling many have been speculating about and the ensuing derivative meltdown would cause real gold price to rise so fast stores for actual physical deliver would be gone in under a week. I feel that scenario is rather unlikely.
If you wanna take the other side I've got a truck-load of NOV15 16 calls in GDX I have been holding on to. I am looking to get rid of @1.00; nothing wrong with em I.. I just, got some new ones for my birthday is all so I don't need em anymore... Yea that's it.
On a related note; I don't think they will let the dollar index fall off a cliff here but god damn it looks ugly, looks like pure death, that's kinda how you know its a buy...
"Gold should see 1200 briefly in the coming days/week but its a strong sell between here and that level if you are trading it short term. The actual probability of gold futures touching 1200 in the next two weeks is trading 40% right now vs 8% probability of touching 1100 in the same time. Clearly the risk reward favors a play for 1100" Blah, blah, blah yappity yap.
Umm, OK. Now how does all of that gibberish affect the bullion purchased by stackers again? Is it something like tracking the daily price for .223 in 1K round lots to see if you are ahead or behind on some trade?
If you buy PMs as an investment, then you are gambling with your money the same as if you are playing any other commodity or in the stock market. In that case all of your words make some sense.
For some reason I think that most readers on ZH fall on the stacker side of PM purchasing, not the "investor" (gambler) side of the equation. Same goes for pallets of ammo.
All hail the self proclaimed paper pushing expert.
Is A Scandal In Paper Gold/Silver Brewing? - Dave Kranzler
http://thenewsdoctors.com/?p=520847
Shoot any burglars or robbers. If Plan A fails:
Buy some fake (but convincing) gold coins from China, put them in a cheap safe, and when the crooks have a gun to your head, hand it over.
Don't forget to be upset about it while they're leaving.
Put the real gold in a rusted coffee can on the shelf in the garage where all that other dust covered, spiderwebbed crap is stored. Top it off with nails for cover.
Put it in tinfoil and store it in the freezer.
Buy some 3" PVC pipe, clip it along the basement wall with a loose cap on one end.
There's all sorts of ways to store a little bit of gold.
If you have a lot, well, more power to you. Have a boat accident.
Ok so you store your money with bullionvault or goldmoney in singepore...then gold becomes illegal and the us eu start confiscation...what does goldmoney or bullionvault do? They are us/eu based comp;anies. They might cooperate by having your gold repatriated and confiscated.
I've used BV but have since drained my account. You can only withdraw 400 oz good delivery bars, which means that there's no way someone like me will ever hold the shiny metal. Also, they only pay out to the same bank account that payed in, so when you sell and cash out it could be an issue. BV is useful for trading, prices and commissions were reasonable, but for buy & hold I want to be able to hold it in my sweaty palm.
Have you guys ever considered the Karatbars model for bullion ownership? Essentially they produce 1g 2.5g and 5g LBMA certified bullion sealed in card. It has DNA and Hologram security etc. the product/concept is aimed at the masses to enable ordinary people acquire bullion. There are some arguments that the 1g bar is too expensive, but its not! and the 5g bar is as good value as anything in the same class (kinebar). They use an affiliate network system to bring the product to market and for anyone with a true understanding of PM the income an affiliate can earn is incredible. More importantly, you can take possession of your bullion and because its small weight its tradable for everyday goods and services. Will it catch on? perhaps, who knows, but its free to join so there is nothing to lose.
www.teamramgold.com/about-us for more info if you are interested in what we have to offer.
current events today read like Neal Stephenson's "Cryptonimicon."
The only safe place for my gold and silver is in an undisclosed location.
Oceans Twelve is not that far off
SELL ALL RALLIES
It's not often one reads about how important gold-storage is, so good for Marc Faber to remind us. Never mind the price of gold, mind where you keep it! I wrote about that three years ago in a piece called "How to buy gold" - and the advice still holds true today.
http://barlowscayman.blogspot.com/2012/12/how-to-buy-gold.html
So I am supposed to store my physical gold in Singapore in return for a piece of paper that says that my gold is safely stored in Singapore. And the difference between that (piece of paper) and paper gold is?....
The only problem in Singapore is they only maintain a full time military of about 50,000. It seems Singapore could be classified by some larger nations as "supporting terrorism" and launch an attack to steal the gold. Of course that would never happen in today's modern world of civilized behavior. Noooo, not in today's climate of peace and prosperity for all.
Uh oh! Marc Faber says the US has a militar base in Singapore!
Do you foresee any problems using gold in the US? Or are you planning on giving it out to your heirs?
#1 - Yes.
#2 - No. To hot women for wild sex until it kills me. Preferably I run out during my last romp.
Seriously. Ownership is nice, but without possession it's only as good as someone else's promise.
The ocean is a big place. You are welcome to try and find it there.
hey you could store your gold at my place
I you store it at my place I won't charge to invest it for you in unique pet rocks.
Do you give out pieces of paper saying "don't worry... this piece of paper tells you that you own gold?" If so, OK then.
I own 22 acres of land and several shovels. It came out of the ground, I can put it back.
Your 22 acres if you or associates choose to raise foodstuffs, is going to be worth more than gold. When TSHTF, the convertability of gold is going to be in question. Remember the old movies where everybody would bite into the coin to determine authenticity.
Two days straight, I had retailers run their fucking pen over my twenties to determine if they were counterfeit or not. I LIVE IN FLYOVER COUNTRY where we don't have sophisticated counterfeiters.
The same is going to be true when TSHTF concerning the authenticity of "gold" in its various forms. Its guaranteed.
There is then a premium on vault gold from a reputable source, so to weigh up against the risks of the gold being confiscated we have to keep in mind that we need to pay more for someone to buy our gold privately. And also we need to weigh up the risks of someone breaking in and stealing our gold, it is only a matter of time that the consequence of the banks discouraging people from storing their money in them will turn into a increase in burglaries, and very violent ones if the homeowner is still there.
Yet another consequence of our feckless political leaders and their financial meddling.
Reads like the, “Bury your guns before Clinton grabs them" crowd.
If you aren’t brave enough to use them now, you’ll never dig them up to use later.
I think it depends very much on the country. Switzerland and Singapore should be pretty safe, Germany should also be relatively safe because the last time gold was confiscated it was by Hitler. So the parallel would be a bit nasty. The US has already confiscated gold once, which makes it a zero rules country. The rest of Europe I don't really know. France and many northern countries like Sweden are prone to leftism and socialism so it could be a bad idea to store gold there. Eastern Europe, no idea. In general I would say that any country outside the Euro or the USD system would be much safer.
Since Faber lives in Asia, it would obviously makes sense for him to keep it in Singapore.
Germany should also be relatively safe because the last time gold was confiscated ...
The US has already confiscated gold once, which makes it a zero rules country.
You're saying there's a major difference because of WHO did the confiscating. Germany's all good because it was Hitler? That makes no sense.
I can see the logic here though, Hitler and the regime he ran is gone. But the US has roughly the same regime in place that was in place back in the 1930's, for that reason I think gold confiscation is still more likely in America, where it has precedence, to Germany, where the precedence are the actions of a thoroughly discredited regime.
As for me, I think I will trust Switzerland myself, I think London/US/Germany/Austria are still okay and preferable to use to spread holdings though. Singapore sounds good, but if things heat up out there then it will be seized by any major power, whereas Switzerland has geography and centuries of tradition giving it its independence.
If you see the German government start to levy a tax against gold sales (it's probably the ONLY thing you can buy without sales tax over here), then you know the winds of change are blowing. Refugee crisis, Deutsche Bank derivatives, Greece again, approaching Great Reset...things can change on a dime...especially if gold explodes as the € $ £ and ¥ tank.
Do storage facilities introduce problems for US citizens abroad like financial institutions? Or are storage facilities viewed differently than financial institutions and the corresponding hassles of signing up?
Foreign Account Tax Complaince Act
The one word answer is NO, however, there is a very important caveat that no one writes about.
If you have a safe deposit box with a financial institution that reports financial account to the IRS, the way customer data is aggregated and reports are automated at banks, the fact that you have a safe deposit box is relatively likely to be reported to the IRS even though it is not currently required.
If it is allocated storage in a vault, your PMs produce no income and no interest. There is no IRS requirement to report those holdings. If you store it in a Financial Institution that may a different. I've had two accountants verify this for current tax year. Of course if you wire transfer funds to the storage facility to purchase gold through them for storage in their vaults there is electronic trails where you send it. I don't think too many people would risk trying to get 100K in cash out of the US without declaring it at the airport. Carrying PMs out of the US as long as it is classified as bullion is a commodity and as of a few years ago there were no restrictions on taking it out of the country but you may have to report it. The country you are going to may have its own regs. and may avoid import tax if the bullion is above a certain purity. .9995 or above was the threshold for New Zealand a few years ago, so don't go there with only .999 cause you'll have to pay tax.
IMHO "only .999" is overkill. Most countries seem to use .995, or even .95, as a cut-off for when tax/duty is applied. You need to check, in advance.
I don't see how. As storage facility is just a storage facility. They give you access to a box for a fixed fee ( long term payment for cash accepted), no guns, no drugs, you can put in there whatever else you want. It does not have to be gold, and nobody knows what you have in there at least officially. But, since most of these places also sell trade gold a corridor away from the vault, you may want to get the storage there and buy your gold elsewhere. That way everyone involved can deny everything.
>>>I don't see how. As storage facility is just a storage facility.
This is why, when you store assets at any vault or similar operation, you want a KEY, and not a RECEIPT (unless the receipt says "received is one sealed box, numbered XYZ1234567", or similar).
You do NOT want a receipt for "100 troy ounces of gold bars", which some (e.g. Mark Nestmann) maintain will be interpreted by tax authorities as a financial account (if they ever find out about it).
...
http://www.dailymail.co.uk/home/moslive/article-1222777/The-raid-rocked-...
If they're somehow classified as a "foreign financial institution" I suppose they'd have to be reported "yes" on your tax form.
Better buy a mask and snorkel then because many on this board lost their Gold when they took it boating and it fell out of said boat.
There's nowhere to hide.
Faber looks like he is hiding at a bowling alley.
storing mine with Goldmoney in Sweden
silver is cheaper and more affordable tho! Silver FTW!
It's the ratio, not the price.
PS How much f'n gold do you need to have before storage is actually a problem? JFC!!
security is a big issue. with a gun to your head, how will you re-act?
"security is a big issue. with a gun to your head, how will you re-act?"
Hence the need to keep your mouth shut.
>>>Hence the need to keep your mouth shut.
Even on the web?
IMHO, NO ONE should any specific information regarding any PMs you own. Since most ZHers are mortal, your heir/executor should have some information, but even then no specifics beyond the fact that instructions/information will be released to him (e.g. by your vault, your attorney, or whoever) when they show up with your death certificate, POA or other appropriate legal documents.
FWIW, it MAY be a good idea to cut your estate's executor out of the loop completely (or it may not be, depending on your situation). If possible, you really should try to avoid running record of your hard assets through probate. If, for instance, your heir is a signatory to a deposit box, either in a jurisdiction with no inheritance or estate tax, or in a jurisdiction where neither you nor your heir are taxed, there will be no record of any transfer having taken place. Which is good, particularly for your heir.
REPOST: Passport revocations anyone. Hide it in several places.