GMONEY1 Silver ✭✭✭✭
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@Optiman you can buy vaulted silver in the new Holding. Or if you wanted physical in-possession, then you can do that through SchiffGold/Goldmoney Physical.
As for the bitcoin/litecoin/crypto question.... that is for @Roy Sebag and upper management to decide. It seems that many customers want this functionality (i.e. buying crypto, selling for metal, and also storage), so I'm sure they are having strategic discussions about this. I'm staying tuned.
Just want to clarify @Optiman when you say "converted" . If you previously had a "personal" or "business" account, and then you set up a "Goldmoney Holding" account, you are actually setting up a new account. That account should come with a holding number.
To confirm that your holding is set-up, you should be able to login via the "Client Access" button by entering your holding number and password.
After you are into the holding and see the dashboard, check in the header to see if you have a "Basic" or a "Full". If you want a "Full", message your relationship manager to request it (there might be additional verification necessary for this now).
@Goldmatters or someone on the inside could add more details or point you to documentation with a step by step process, but this should work for the time being.
We also have some active community members like @TauntFourstar and @mr1 who might be able to throw together a tutorial video for this new process.
@Marco_1983 and @helferlein Until there is a statement from the company on this, I would send a message to your relationship manager through your holding telling them that you want a "Full Holding". A while back, that is what I did.
Full disclosure though, I don't understand why they don't just default it to "Full" for everyone. The limits are different, so maybe it is for their internal insurance agreements for AUM (or potential AUM) or just general risk management. Not sure...but more details directly from @KatyMillington (legal) or @Roy Sebag would be welcome.
@ilya , I did not say that. All customers are important; and all customers who are genuinely here to use the platform should be treated with the highest level of customer service.
So, if somebody is not an advocate for the company, their issues don't need to be resolved.
That said, it would not be good for the momentum of the company or the morale in the community to lose one of it's most active, engaged, and supportive customers. For example, @Goldmatters path from enthusiastic customer to a consultant/liaison at the company sends a very positive message (to me at least); but if he (or @RocketDog) were to start sharing cautionary anecdotes... and distanced themselves from the company/platform... that wouldn't be a very comforting sign.
Most people don't realize that insurance companies are like options/derivative houses. They collect marginal premiums upfront and on a rolling basis... essentially giving customers the option to execute their call if things go bad at very little additional cost (I.e. Deductible ~ strike price) to the customer . The major difference is that the strike for the customer is fixed, but for the insurance company variable based on the extent of the damage. Then the other problem is the insurance companies need to invest the premium they collect upfront in order to cover payouts (works great in a bull market backed by CB buying); a mass of payouts is essentially a margin call because the expected short term liabilities spike far above the cash on hand.... so they are forced to sell some of their positions**. I don't think they own much gold or silver or miners. FANG-like, index based ETFs, certain bonds... I'm worried for my family members who are confidently holding these with fat unrealized gains from the past 8 years of absurd fiat injection.
**insurance companies can reduce risk by entering agreements with reinsurance companies... but now we're just displacing the original risk onto someone else ... someone gets called... because the risk is still in the systm.
Question is going to be, can certain companies --A Mega Zeitgeist Network-- operate (I.e. Literally avoid bankruptcy) if their stock loses 90% due to reversion to fair value on a PE/maturity/diseconomies-of-scale basis. AAPLs PE of 18 is understandable imo, but other companies should be within arms reach + or - . Imo those that are not will be the names that insurance/reinsurance companies liquidate first.
Or I could be wrong and printed money keeps the whole thing afloat for a while....until the confidence and value of the dollar has been diluted away.