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If HSBC went bust then what would happen to my gold


Silvistone

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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

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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?

😎

Chards

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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

 


 

 

Not my circus, not my monkeys

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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!!!

It does not matter how slowly you go so long as you do not stop.

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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!

😎

Chards

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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.

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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.

😁

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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

untitled 84.JPG

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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.

Central bankers are politicians disguised as economists or bankers. They’re either incompetent or liars. So, either way, you’re never going to get a valid answer.” - Peter Schiff

Sound money is not a guarantee of a free society, but a free society is impossible without sound money. We are currently a society enslaved by debt.
 
If you are a new member and want to know why we stack PMs look at this link https://www.thesilverforum.com/topic/56131-videos-of-significance/#comment-381454
 
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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.

😎

Chards

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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? 

Central bankers are politicians disguised as economists or bankers. They’re either incompetent or liars. So, either way, you’re never going to get a valid answer.” - Peter Schiff

Sound money is not a guarantee of a free society, but a free society is impossible without sound money. We are currently a society enslaved by debt.
 
If you are a new member and want to know why we stack PMs look at this link https://www.thesilverforum.com/topic/56131-videos-of-significance/#comment-381454
 
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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?

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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"

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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 

Central bankers are politicians disguised as economists or bankers. They’re either incompetent or liars. So, either way, you’re never going to get a valid answer.” - Peter Schiff

Sound money is not a guarantee of a free society, but a free society is impossible without sound money. We are currently a society enslaved by debt.
 
If you are a new member and want to know why we stack PMs look at this link https://www.thesilverforum.com/topic/56131-videos-of-significance/#comment-381454
 
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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.

😎

Chards

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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

 

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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.

 

Not my circus, not my monkeys

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