Ottawa Royal Canadian Mint Vault

LeFinancisteLeFinanciste Posts: 42 Copper ✭✭
First, I have to say I am happy that Goldmoney is expanding it's relationships and I am happy that the Royal Canadian Mint is now part of the family. I wish it would bring more physical redemption options.

My question; (from a Brinks Vault Lover!)

I love that Brinks is an independent company with shareholders. It is private and, I wish, Unbiased.
I don't want to sound like the tin foil hat dude, but I am worry about the Royal Canadian Mint vault. I haven't decide if I would like to use that vault yet. It is in Ottawa and I would love to feel my gold closer to home, but the Royal Canadian Mint of Canada is a Corporation of the crown, (her majesty Queen Elisabeth II, for now). Am I the only one that is worried about the fact that it might be risky to give your gold to an entity so close to the government?
If a gold confiscation was to happen in Canada wouldn't the RCM be the first place to look for some...

I love the RCM for it is one of the most renown Mint in the world , but as a Vault? What do you think?

Thank you !


  • GoldStandardCanadianGoldStandardCanadian Posts: 148 Bronze ✭✭✭
    It's a valid concern, imho. There's nothing safer than physical - but only when it's in your own hands.

    Things are safe right now, so I'd be comfortable using that vault with a limited sum. But capital controls, which we are increasingly seeing in many countries, is no exception to Canada. I'm just waiting for the day we hear a new government announcement forcing modernised cashless transactions. I just know it's coming. And sometime after we'll be told not only is cash restricted or banned, but gold is likely to follow. Of course they'll cite crime and not give any attention to better security features, or serial number tracking methods. It is like people are being forced into digital financial slaughter pens before central banks get wiped out. Maybe we'll all be forced onto these systems before the big crash happens, and then either adjust to SDR currency, or a very rough transition period requiring a barter and socialist system to support ourselves. Or anarchy... who knows what will happen. Aside from the IMF with SDR's, it doesn't look like even the elites have a seamless backup plan for the masses.

    Goldmoney is a great service but it will be put to the test when the central banks fail and we have either hyperinflation or the death of the US dollar. And even anyone with a healthy dose of scepticism can do their own research and eventually realise a collapse is coming. ICE 9 is coming.

    You may be able to rely on certain private vault services, but gold in an RCM vault is technically RCM, or in other words, government property. The same government that requires income tax in FIAT currency only. When FIAT fails after the next big crash, the government may fail along with it, as they're both intertwined. The only clear path forward is adopting global money, SDR's... but even those are based on a basket of broken FIAT currencies, so I'm sceptical that it will be adopted like Jim Rickards theorises.
  • ShannaShanna Posts: 28 Tin ✭
    @GoldStandardCanadian ... Thank you for such a lucid post. That is precisely the situation that i see too. It's pretty clear since Modi's big move in India, and smaller rumblings and murmurs in a bunch of countries, that the big banks are pressuring governments to force people into the banking system as both a short and long-term way of re-liquifying the failing banks. Obviously they know that people won't stand for negative interest rates and bail-ins, so they want to eliminate our alternatives.

    I am already nervous enough about what will happen to my Goldmoney "deposits" when the banks get closer to the brink, or go over it. I've recently realized that since Goldmoney is very tied into and dependant upon the current system, i cannot expect that my investment here will necessarily survive the coming financial chaos, and so i have started thinking of it as a paper investment that is good, as paper investments go, but not good enough to survive the crash in a way that i can access it after such an event.

    So my main interest in Goldmoney has now shifted from seeing it as an investment, to seeing it as a way to transact with others if/when the banking system goes out for an extended period. I've now put it into the same category as Bitcoin.
  • LeFinancisteLeFinanciste Posts: 42 Copper ✭✭
    Well @Shanna , your post is good and you seem cautious as we always should. BUT I have to disagree with you (in a very friendly manner) on your last point! I just write a post on how much I hate Bitcoin. I think we should never put anything in the same category as bitcoin, there shouldn't be a category for bitcoin.
    I think this platform is great. We can take some profit on the value of gold, redeem precious metal to keep buried somewhere, I personally play with currency trading with my master card. I wish that in the futur this platform would be global and we could all trade during hard times, but if it doesn't get a critical mass of user everywhere this platform would be useless in time of real ICE 9.... (I am fairly sure that most of us have a good Idea of a ICE 9 crisis, but for those who don't: I leave the Great James Rickard to explain his concept.)
    The worst will be for the Bitcoins holders that won't be able to use it for anything useful since very few if any grocery stores take bitcoins... at least not where I am from.
    That is why I prefer my gold in a private vault where technically it is mine and I could take delivery in person. I know that everything is possible, and the Brinks may fail to secure the gold in time of crisis or war... but the odds are better With Goldmoney than with a bank or a cryptocurrency...
    But that is just my opinion :smiley:
  • GoldStandardCanadianGoldStandardCanadian Posts: 148 Bronze ✭✭✭
    edited January 2017
    Goldmoney is honest, "sound" money. Intellectual people who use it in place of FIAT are certainly among the most fiscally, socially and ethically responsible people in any demographic. But all those good traits won't matter when it's allocated in an environment with capital controls. The Goldmoney intellectual nerds could find themselves a victim when the system collapses. The legislation to lock down the banking system is already in place and ready to execute at a single command. Same as ever since 9/11 martial law has been only a phone call away.

    I used to think doomsday preppers were crazy. I especially hate conspiracy theories, and I consider myself extremely down to earth in my philosophies. But now I've found a valid, fundamental reason for it. There won't be a zombie apocalypse but I can guarantee you the US Dollar is going to either go into hyperinflation or collapse completely. It's a great time to prepare while Gold and Silver are both selling at a discount if you consider many factors - silver in particular has the most room to grow in value if you buy right now.
  • LeFinancisteLeFinanciste Posts: 42 Copper ✭✭
    How would our currency react here in Canada to the melt down of USD, that is a question I keep asking myself while investing in my preparation. I would put NZD in a similar basket... Our currency will take a hit like every other but in what proportion could it go down. If you look back to 2011, the CAD was Higher than USD. Is that possible that we would be better off after the next crisis due to our High dependency on ressources like oil and mining... Can we say that the Canadian dollars is backed by its ressources?

    I don't think we would be able to hide from an ICE 9 event and I know that most of our trade are with the US (for now, until Trump gets its protectionist way) but we are still just billions in debt... not trillions. We have a big housing bubble, a bad budget and useless spending...
    but we have an awesome, baby faced, instagram champion, cool looking PM! (hum...)

    What do you think?
  • GoldStandardCanadianGoldStandardCanadian Posts: 148 Bronze ✭✭✭
    edited January 2017
    Personally I am "conservative" when it comes to my political preferences as it pertains to economic decisions. Ideally I'd say no debt should be accrued while spending from the public coffers. Politicians are there to represent the people, not the other way around. If Canada cannot afford a project, I think the project should be rejected and not borrowed/funded, except for national emergencies, in some circumstances, or war. Debt is not a form of wealth, imho.

    I think Trudeau is spending too much money and taking the wrong approach to tackling climate change, often contradicting himself such as with pipelines and big green donations to other nations like Africa. There are too many interest groups to have sunny ways all around and have consistent values. Aside from being fiscally conservative, my political views align best with the Green Party, so I am somewhat liberal on individual freedoms, and in favour of strong environmental protection, cleantech and eco-jobs. Unfortunately in our politics, politicians can't seem to find the right balance. The Greens and Liberals both would be spending too much on their programs, while conservatives would be, at times, fiscally conservative but often backwards on personal freedoms... but at least not to the extent that the Americans are backwards on personal freedoms, such as forcing funerals for fetuses, banning abortions, mass deportations of immigrants, stupid rhetoric about other nations paying for unnecessary walls, Ted Cruz style crap, and other brainless nonsense commonly covered as important headlines on Fox News. The fact America elected a mentally challenged individual, who is also accused as a child molestor, cheats taxes, whose appointments include mostly white male racists, has real life mafia friends, does say something about US culture's ideals, even though the popular majority didn't vote Trump. But the fact even so much as 5% did I find personally shocking and reprehensible, when hateful ideology should be not only rejected, but actively persecuted.

    Canada has enormous resources with lots of room to grow and as someone who follows the stock market, I'm impressed with the amount of innovation we bring to the world stage. I follow Canadian stocks on StockHouse, and as one example Goldmoney itself is a Canadian company that clearly to us is leading fintech.

    Personally I think we are perfectly capable of reducing dependency on America. We shouldn't be afraid of change when we are working on the right fundamentals. Thanks to global warming our Arctic shipping routes are better than ever and America is the only nation really enthusiastic about getting out of free trade. As they isolate themselves and their economy goes sour, they might realise how economically beneficial free trade is to their economy, and perhaps even flip flop down the line.

    As all trade is based on USD and our businesses are so intertwined, ICE 9 would affect the Canadian dollar deeply.

    Opinions are my own.
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