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S W
Member since May 2012
668 commentaries - 5 followers

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has posted a comment on the article :

Clients denied gold at major banks as shortage intensifies

- Egon von Greyerz - Matterhorn AM

Well i can tell everyone this.
It takes less than a minute to sell or buy your gold.
The buyer will accept immediately.
The seller will try to delay delivery on a contractual arrangement for 3 days.

That was my recent experience.

As a side note.
If I buy a house for $1m and 22kg of gold for $1m Aud, what is the better investment? Both are solid assets. Both go up and down etc in price.
The house needs maintenance, insurance, rate payments but can earn you rent and you have to pay tax on that. It takes 3 months to sell a house and get paid.
The gold is easily stored and costs next to zero maintenance. You can borrow against it and earn interest also. You can sell it in less than a minute.
You can Barter with gold. You can sell fractions of your gold. You cannot do either with a house.

Commented 3988 days ago

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Beginning of the headline :Clients denied gold at major banks as shortage intensifies Read this article on King World News – Courtesy KWN May 21, 2013 Second written part of the same audio interview we posted yesterday: Greyerz: “This week I want to talk about what we are seeing in the physical gold market, and why there is a disconnect in that market. We transfer a lot of gold from Swiss banks and other banks into private vaults for investors. More often now, than ever, we are encountering incidents when the banks are... Read More

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