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overtheedge
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The success of Singapore gold storage - Jan Skoyles Real Asset Co - The Real Asset Co

I want to make sure I understand the virtue of physical gold.
Folks buy it as an enduring storage of value.

Now here is where I start to get confused.
For reasons, real and imagined, folks don't trust their government when it comes to personal ownership of gold.
Therefore many store their gold (and other as yet unnamed valuables) in overseas vaults.
Many choose vaults located in "free-trade zones".
The main arguments in favor of this is: no paperwork, no customs and no taxes.

Am I "The Man From La Mancha" or doesn't anyone realize that "Free Trade Zone" status is just a legislative act?
The legislature can eliminate it overnight.
Now imagine all those vaults holding vast wealth with NO paperwork, NO customs declarations and NO tax paid.
Yes Dorthy, this ain't Kansas, Toto just got run over by an armored car and in our safe world, the only undeclared wealth is obviously ill-gotten wealth.
Perhaps someone might be so kind as to point me towards a nearby windmill.

Commented 3682 days ago

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Beginning of the headline :The flow of gold from West to East has been well documented in the last year as ETF outflows left holdings at levels not seen since 2008, whilst physical demand in the East continued to break records. However, one area in which it has not been well-documented is the flow of gold from Western gold investors to storage in East Asia, or specifically, Singapore. In 2012 we ran a poll asking you where you would like to store your gold. An overwhelming number of you told us that you wanted to store yo... Read More

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