Which of the Goldmoney storage vaults is safest from government confiscation/theft?

Midas65Midas65 Posts: 11 Tin ✭
Hi. I was just wondering...no use owning gold if it gets confiscated by the state during a crisis.
I want to know the opinion of the community the answer to the following question:
What is he safest vault location; in terms of being safest from confiscation by the state, or general theft.
I live in Canada, so my metals are stored at Brinks Toronto location.

Comments

  • paddy10tellyspaddy10tellys Posts: 236 Bronze ✭✭✭
    Also - no use owning gold that can't be redeemed in a crisis.

    As I understand it @Midas65 - all physical redemptions come from a US vault, via Schiff. If a crisis happens & Uncle Sam says gold just don't gonna move from the USofA then it doesn't matter which vault has it. Your choice is redeem to fiat, redeem to fiat, or ...don't redeem???
  • RandianZealotRandianZealot Posts: 20 Tin ✭
    I use the Singapore vault. The government there has a strong belief in financial privacy and security. And it's physically way off in East Asia, far away from the governments of Europe and the U.S. I think Switzerland is the most popular vault though, and I'd say it's the second-safest behind Singapore.

    As far as physical redemption is concerned, it used to be the case that you could physically redeem a 1 kilo bar if you owned at least that much gold with GoldMoney. You had to fill out a form online and then go to the vault in person to pick it up. If you're interested in doing this, you should call customer service and ask if it's still available.

    I would also suggest that if the U.S. government becomes totalitarian, don't have your gold sent into the country. Instead, get yourself out of the country and find a way to get your gold once you're out (or find a way to sell it and get cash once you're out). Keep a small amount of physical gold in your own home, enough to pay for a ship or plane to get you out. But don't take delivery of the rest. The last thing you want is to give them more gold to steal.
  • Lone_StarrLone_Starr Posts: 84 Bronze ✭✭✭
    I would imagine all the storage locations are reasonably protected from theft ie walls, doors, armed guards, insurance, etc... As far as confiscation, that all depends on the situation. Is it a legal issue or a survival issue? Bottom line, if a government wants what is in the safe bad enough they are going to get it. Goldmoney shouldn't be used for a SHTF situation. It only works when things are relatively smooth.
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