Lots of interesting info and links from Bron Suchecki.
http://goldchat.blogspot.com/2015/01/be ... re-of.html
The 411 on Unallocated Acounts ETFs etc.
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The 411 on Unallocated Acounts ETFs etc.
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Re: The 411 on Unallocated Acounts ETFs etc.
Thanks. This is an important issue that people need to be aware of. I don't want to name names, but there are some really weak legal agreements out there which sound like allocated but given the complete lack of specificity are probably unallocated.
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Re: The 411 on Unallocated Acounts ETFs etc.
I tried searching your blog, but came up with nothing. How does The Hard Assets Alliance rank on the scale of this kind of thing? Are they off balance sheet?bronsuchecki wrote: Thanks. This is an important issue that people need to be aware of. I don't want to name names, but there are some really weak legal agreements out there which sound like allocated but given the complete lack of specificity are probably unallocated.
"All generous minds have a horror of what are commonly called 'Facts'. They are the brute beasts of the intellectual domain." -- Thomas Hobbes
Disclaimer: I am not a broker, dealer, investment advisor, physician, theologian or prophet. I should not be considered as legally permitted to render such advice!
Disclaimer: I am not a broker, dealer, investment advisor, physician, theologian or prophet. I should not be considered as legally permitted to render such advice!
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Re: The 411 on Unallocated Acounts ETFs etc.
There won't be anything on my blog, I don't comment specifically on the pros or cons of other storage programs.
Disclosure: I work for the Perth Mint. What I say is done in a personal capacity and is not endorsed by the Mint.
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Re: The 411 on Unallocated Acounts ETFs etc.
I don't care about the pros and cons, just wondered where you place it along the various forms of segregated and unsegregated account types that you did for GoldMoney, BullionVault, etc..bronsuchecki wrote: There won't be anything on my blog, I don't comment specifically on the pros or cons of other storage programs.
"All generous minds have a horror of what are commonly called 'Facts'. They are the brute beasts of the intellectual domain." -- Thomas Hobbes
Disclaimer: I am not a broker, dealer, investment advisor, physician, theologian or prophet. I should not be considered as legally permitted to render such advice!
Disclaimer: I am not a broker, dealer, investment advisor, physician, theologian or prophet. I should not be considered as legally permitted to render such advice!
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Re: The 411 on Unallocated Acounts ETFs etc.
I don't see any discussion of the default type of storage offered by Global Gold, namely allocated but unsegregated bars/coins. They also have a segregated option but it is .2% more per year, which can add up.
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Re: The 411 on Unallocated Acounts ETFs etc.
Hard Assets is an unusual case as HAA is just relabelling a service performed by Gold Bullion International. If after the end of your transaction you have a statement directly from the vault operator in your name that they are holding gold for you, and you could come and pick it up or view it directly from the vault, then it is allocated. Otherwise you have HAA and GBI legal entities between you and the gold and so it would be similar to a pooled allocated type service like GoldMoney and BullionVault. I believe it is the latter.
Disclosure: I work for the Perth Mint. What I say is done in a personal capacity and is not endorsed by the Mint.