If HSBC went bust then what would happen to my gold

[Silvistone]

I have attached a premium artical from UK independent wealth. On page 16 it quotes

Gold Bullion

bars, that are your direct property. That’s even though they are stored on your behalf by someone else. The bars are identified using serial numbers, so they can be

This is distinct from “unallocated” gold, where you have a claim over pooled gold bars that are actually the property of an intermediary. Unallocated gold should be avoided, as there’s a risk that you won’t get anything back if the storage provider goes bust (such as a bank).

So he is saying avoid ETFs and ETCs because if the holder of the gold goes bust then you loose you stock. I guess they get around this because if you dont actually own the gold you only own a share and they can say that the shares went broke, am I right hear?

So the holder or Wisdomtree is HSBC and HSBC went bust then would I loose my shares in the gold?

 

Hard-money-the-best-way-to-own-gold P14.pdf

[James32]

As the wise man once said.. if you don't hold it "you don't own it"

[LawrenceChard]

35 minutes ago, Silvistone said:

I have attached a premium artical from UK independent wealth. On page 16 it quotes

Gold Bullion

bars, that are your direct property. That’s even though they are stored on your behalf by someone else. The bars are identified using serial numbers, so they can be

This is distinct from “unallocated” gold, where you have a claim over pooled gold bars that are actually the property of an intermediary. Unallocated gold should be avoided, as there’s a risk that you won’t get anything back if the storage provider goes bust (such as a bank).

So he is saying avoid ETFs and ETCs because if the holder of the gold goes bust then you loose you stock. I guess they get around this because if you dont actually own the gold you only own a share and they can say that the shares went broke, am I right hear?

So the holder or Wisdomtree is HSBC and HSBC went bust then would I loose my shares in the gold?

 

Hard-money-the-best-way-to-own-gold P14.pdf 551.1 kB · 2 downloads

I suspect, or at least hope, that you already know the answer.

Next time you see him, could you please ask Nigel Farage why he didn't vote for me, or at least turn up to put in a good word?

😎

[LawrenceChard]

3 minutes ago, James32 said:

As the wise man once said.. if you don't hold it "you don't own it"

Was that to his girlfriend?

😎

[dicker]

I have worked in banking my entire career and have not heard of this outfit or any of their management team.  Odd website to boot.  

“Safe custody” of assets is a very complex field…. Whilst there are contracts and conventions, I don’t think you would know unless:

A. You obtain and understand the whole chain of custody and the contracts between entities.  Good luck with that!

B. This is tested in a default situation

 

 

 

[Gordy]

1 hour ago, LawrenceChard said:

Next time you see him, could you please ask Nigel Farage why he didn't vote for me, or at least turn up to put in a good word?

cos he didnt get free postage!!!

[SidS]

I suspect even physical gold you own, stored in a bank vault, would be subject to bail ins if required.

[LawrenceChard]

34 minutes ago, SidS said:

I suspect even physical gold you own, stored in a bank vault, would be subject to bail ins if required.

Why do people mistrust governments so much?

Whay reasons are there?

Apart from Boris Johnson, Liz Truss, amd Kwasi Kwarteng?

Having just written that, I realise that mistrust and Liz Truss sound very similar!

😎

[SidS]

8 minutes ago, LawrenceChard said:

Why do people mistrust governments so much?

Whay reasons are there?

Apart from Boris Johnson, Liz Truss, amd Kwasi Kwarteng?

Having just written that, I realise that mistrust and Liz Truss sound very similar!

😎

Some examples:

George Bush, "Read my lips, no new taxes." - Soon followed by taxes.

Bill Clinton, "I did not have sexual relations with that woman, Ms Lewinski." - Her recollection was different.

That's before we start on UK Prime Ministers.

[ant1882]

25 minutes ago, LawrenceChard said:

Why do people mistrust governments so much?

Whay reasons are there?

Apart from Boris Johnson, Liz Truss, amd Kwasi Kwarteng?

Having just written that, I realise that mistrust and Liz Truss sound very similar!

😎

I know right? Governments always have our best interests at heart and would never do anything untoward.

😁

[Silvistone]

36 minutes ago, SidS said:

Some examples:

1. George Bush, "Read my lips, no new taxes." - Soon followed by taxes.

2. Bill Clinton, "I did not have sexual relations with that woman, Ms Lewinski." - Her recollection was different.

3. That's before we start on UK Prime Ministers.

1. Weapons of mass distruction

2. see photo attached

3. Ted Heath

[LawrenceChard]

44 minutes ago, SidS said:

Some examples:

Bill Clinton, "I did not have sexual relations with that woman, Ms Lewinski." - Her recollection was different.

Yes, that ended up as a real stain on his character!

😎

[LawrenceChard]

11 minutes ago, Silvistone said:

1. Weapons of mass distruction

2. see photo attached

3. Ted Heath

Who was it that said "Thanks for coming"?

😎

[HerefordBullyun]

1 hour ago, SidS said:

I suspect even physical gold you own, stored in a bank vault, would be subject to bail ins if required.

Ask Venezuela, how they are getting on repatriating their gold from the UK.

Ask people when they tried withdrawing money from Northern Rock during the financial crisis of 2008.

I trust banks like I trust the government. Zero percent.

[SidS]

Just now, HerefordBullyun said:

I trust banks like I trust the government. Zero percent.

To be honest I trust the Government more, about 0.5% more.

[LawrenceChard]

11 minutes ago, HerefordBullyun said:

Ask Venezuela, how they are getting on repatriating their gold from the UK.

Ask people when they tried withdrawing money from Northern Rock during the financial crisis of 2008.

I trust banks like I trust the government. Zero percent.

Northern Rock was always a disaster waiting to happen.

There were many reasons why, one of which was:

"In 2006 the bank had moved into sub-prime lending via a deal with Lehman Brothers."

But also very lax mortgage lending rules.

The regulatory authorities should also have been held to account, as they failed in their bank supervision, and were negligent IMO.

😎

[HerefordBullyun]

18 minutes ago, LawrenceChard said:

 

The regulatory authorities should also have been held to account, as they failed in their bank supervision, and were negligent IMO.

😎

Sadly the regulatory authorities are run by ex bankers for bankers.. Its like asking dracula - can you look after my bloodbank? 

[Silvistone]

1 hour ago, LawrenceChard said:

Northern Rock was always a disaster waiting to happen.

There were many reasons why, one of which was:

"In 2006 the bank had moved into sub-prime lending via a deal with Lehman Brothers."

But also very lax mortgage lending rules.

The regulatory authorities should also have been held to account, as they failed in their bank supervision, and were negligent IMO.

😎

What do you think the chance of HSBC going bust are?

[Silvistone]

1 hour ago, HerefordBullyun said:

Sadly the regulatory authorities are run by ex bankers for bankers.. Its like asking dracula - can you look after my bloodbank? 

There was an American comedian (cant remember his name) died not long ago said "its a big club and you ant in it"

[HerefordBullyun]

2 minutes ago, Silvistone said:

There was an American comedian (cant remember his name) died not long ago said "its a big club and you ant in it"

George Carlin 

[Lyrinn]

17 hours ago, LawrenceChard said:

Next time you see him, could you please ask Nigel Farage why he didn't vote for me, or at least turn up to put in a good word?

😎

If we vote Nigel in as PM and demand that he appoint you as Chancellor, would this be okay?

[LawrenceChard]

26 minutes ago, Silvistone said:

What do you think the chance of HSBC going bust are?

Lower than Liz Truss getting re-elected as Prime Minister.

As with RBS, it would be almost unthinkable for the UK government to allow a major British bank fail.

If it happened, we would all be in big trouble, probably equivalent to Ukraine currently.

😎

[Silvistone]

3 hours ago, LawrenceChard said:

Lower than Liz Truss getting re-elected as Prime Minister.

As with RBS, it would be almost unthinkable for the UK government to allow a major British bank fail.

If it happened, we would all be in big trouble, probably equivalent to Ukraine currently.

😎

But I though all this was the plan for the great reset, goverment and banks to go bankrupt all to be sweaped up by the central one world bank the Rothchild dinasty

 

[LawrenceChard]

30 minutes ago, Silvistone said:

But I though all this was the plan for the great reset, goverment and banks to go bankrupt all to be sweaped up by the central one world bank the Rothchild dinasty

 

Rothschild dynasty!

😎

[dicker]

High on any conspiracy theorist’s hit list is the “Rothschild’s”.  

- They control our lives

- Control the Fed

- Control governments

- etc

None of which is true and as far as I have ever been able to determine has its roots in anti-semitism.