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Eric King Interviews Whistleblower Andrew Maguire And Adrian Douglas Of GATA

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  • #61
    Re: Eric King Interviews Whistleblower Andrew Maguire And Adrian Douglas Of GATA

    Originally posted by jtabeb View Post
    BUT ONLY if you are forced to expatriate (it's in the fine print).

    So no, you can't just take your metal anytime you want. You have to be forced to flee your home domicile first.

    From BV's own FAQ.
    Can I get physical custody of my gold?

    Yes - BullionVault allows physical withdrawal of gold, but only in special circumstances. The most likely case is when your bank is no longer a practicable recipient of your funds - as might be the case after political or economic upheaval in your country of residence.
    It is to guard against those types of circumstance that some gold buyers seek immediate personal custody of their gold. The supposed security may be an illusion. Gold is commonly unusable when stored in the country where it is needed, because use of it exposes the owner to great risks; either through confiscation, personal safety or physical loss.
    To be useful as a store of value in uncertain times gold works best when held in a place which consistently recognises foreign ownership rights and is not itself in crisis. Then it can be sold for full value. Its owner will generally find the proceeds are welcome all over the world - even at home.
    Since nowhere can guarantee to remain permanently immune from crisis it is also sensible to retain a degree of flexibility, and this is why BullionVault offers a choice of storage locations. We also use a vault manager and technology which allow the choice of storage locations to be extended by us as geopolitical circumstances change.
    In addition to these strategic reasons for avoiding personal custody of gold there are tactical ones:-
    • Privately held gold is not fully trusted when sold back to bullion markets, and loses value proportionately.
    • Privately held gold is physically less safe than vaulted gold, and very much more expensive to insure.
    • Upon taking private custody bar buyers must still trust the gold content unless they are competent to assay.

    These are the reasons BullionVault offers private custody only as a last resort in cases of unavoidable emigration.
    Back to top of FAQs




    So for all intents and purposes YOU Ain't NEVER getting no actual gold out of bullion vault, unless you're running like a refugee.
    that's your interpretation of this? what, are you kidding?

    Can I get physical custody of my gold?

    Yes - BullionVault allows physical withdrawal of gold, but only in special circumstances. The most likely case is when your bank is no longer a practicable recipient of your funds - as might be the case after political or economic upheaval in your country of residence.
    It is to guard against those types of circumstance that some gold buyers seek immediate personal custody of their gold. The supposed security may be an illusion. Gold is commonly unusable when stored in the country where it is needed, because use of it exposes the owner to great risks; either through confiscation, personal safety or physical loss.
    To be useful as a store of value in uncertain times gold works best when held in a place which consistently recognises foreign ownership rights and is not itself in crisis. Then it can be sold for full value. Its owner will generally find the proceeds are welcome all over the world - even at home.
    Since nowhere can guarantee to remain permanently immune from crisis it is also sensible to retain a degree of flexibility, and this is why BullionVault offers a choice of storage locations. We also use a vault manager and technology which allow the choice of storage locations to be extended by us as geopolitical circumstances change.
    In addition to these strategic reasons for avoiding personal custody of gold there are tactical ones:-
    • Privately held gold is not fully trusted when sold back to bullion markets, and loses value proportionately.
    • Privately held gold is physically less safe than vaulted gold, and very much more expensive to insure.
    • Upon taking private custody bar buyers must still trust the gold content unless they are competent to assay.

    These are the reasons BullionVault offers private custody only as a last resort in cases of unavoidable emigration.
    bv is safer than bullion in your house if you live in a country that will tax the shit out of it if you try to sell it or take it out of the country. period.

    now... if you're willing to break the law.. not pay the tax on sales... smuggle the physical out of the country... you don't need bv.

    keep your 50 oz. buried in the yard... dig it up & sell it on the black market for 50% of market price. that doesn't work for folks with 1000 or 10,000 oz. & that's bv's customer.

    Comment


    • #62
      Re: Eric King Interviews Whistleblower Andrew Maguire And Adrian Douglas Of GATA

      Originally posted by metalman View Post
      that's your interpretation of this? what, are you kidding?



      bv is safer than bullion in your house if you live in a country that will tax the shit out of it if you try to sell it or take it out of the country. period.

      now... if you're willing to break the law.. not pay the tax on sales... smuggle the physical out of the country... you don't need bv.

      keep your 50 oz. buried in the yard... dig it up & sell it on the black market for 50% of market price. that doesn't work for folks with 1000 or 10,000 oz. & that's bv's customer.
      Dude, you are honestly smoking crack if that's the meaning you get out of that.

      What do you not understand, you can only get it if you expatriate. That's it, no other exceptions. It SAYS so.

      "These are the reasons BullionVault offers private custody only as a last resort in cases of unavoidable emigration."


      I assume you CAN read, so Don't argue with me, go argue with bullion vault.

      Point is SHORT OF TOTAL CALAMITY, you can't get no physical gold from BV. It's RIGHT THERE on their own WEBSITE for GOD's SAKE!

      (It's the last line of where you quote me by the way, you know, the ONE YOU DIDN'T HIGHLIGHT IN RED)
      Last edited by jtabeb; 04-12-10, 08:51 PM.

      Comment


      • #63
        Re: Eric King Interviews Whistleblower Andrew Maguire And Adrian Douglas Of GATA

        Originally posted by jtabeb View Post
        Dude, you are honestly smoking crack if that's the meaning you get out of that.

        What do you not understand, you can only get it if you expatriate. That's it, no other exceptions. It SAYS so.

        "These are the reasons BullionVault offers private custody only as a last resort in cases of unavoidable emigration."


        I assume you CAN read, so Don't argue with me, go argue with bullion vault.

        Point is SHORT OF TOTAL CALAMITY, you can't get no physical gold from BV. It's RIGHT THERE on their own WEBSITE for GOD's SAKE!

        (It's the last line of where you quote me by the way, you know, the ONE YOU DIDN'T HIGHLIGHT IN RED)
        i'd encourage you to read it again...

        before you do, imagine for a minute that the service is not designed for usa gold bugs. imagine you're a wealthy dude in argentina, saudi arabia, indonesia, etc, etc.

        ok, now try again.

        it says that if tshtf in your home country, fetching your bv gold home is dumb... even if it's not taken away from at the border on the way in you won't be able to sell it for shit on the black market in your f'ed up country.

        when the shtf in your home country, you want your gold in london, zurick, or nyc, not the one where tshtf.

        as long as you can sell some out of your gold out of your bv account & xfer the proceeeds home to your bank at full market value, you're better off leaving it in bv custody.

        if you can't sell it & wire the proceeds home because your bank is blusted, better come & get your gold because you're as f&cked as any usa goldbug with his gold in the back yard when tshtf here in the usa & your bv account is in nyc... theives & the gov't after your ass, taxes, black market ripoffs, etc.

        that's what it says. that's all it says.

        Comment


        • #64
          Re: Eric King Interviews Whistleblower Andrew Maguire And Adrian Douglas Of GATA

          Originally posted by metalman View Post
          that's what it says. that's all it says.
          I think it says one more thing. Sure, as you say, it says you can get your gold when you're on the run from your native country.

          But it also says you cannot get your gold under any other circumstances!
          Most folks are good; a few aren't.

          Comment


          • #65
            Originally posted by ThePythonicCow View Post
            I think it says one more thing. Sure, as you say, it says you can get your gold when you're on the run from your native country.

            But it also says you cannot get your gold under any other circumstances!
            now, now cow. how are they going to enforce a rule like that? what... do you have to bring a 'just got thrown out of my country' card to take your gold out?

            maybe they don't want to take out a hack saw & cut your 50 oz off the end of a 1000 oz bar any time you feel like it.

            to clarify this question, i'll send a note to bv & tell ya what i get back.
            Last edited by metalman; 04-13-10, 01:15 AM.

            Comment


            • #66
              Re: Eric King Interviews Whistleblower Andrew Maguire And Adrian Douglas Of GATA

              Originally posted by metalman View Post
              to clarify this question, i'll send a note to bv & tell ya what i get back.
              Go for it. Let us know.
              Most folks are good; a few aren't.

              Comment


              • #67
                Re: Eric King Interviews Whistleblower Andrew Maguire And Adrian Douglas Of GATA

                Originally posted by metalman View Post
                now, now cow. how are they going to enforce a rule like that?
                Easy, it's in the CONTRACT that you signed (agreed to) when you opened an account with them. YOU DID READ the contract/account agreement, RIGHT?

                (Have fun trying to get your metal, Metal.)
                Last edited by jtabeb; 04-13-10, 01:39 AM.

                Comment


                • #68
                  Re: Eric King Interviews Whistleblower Andrew Maguire And Adrian Douglas Of GATA

                  Originally posted by jtabeb View Post
                  Easy, it's in the CONTRACT that you signed (agreed to) when you opened an account with them. YOU DID READ the contract/account agreement, RIGHT?
                  You can bet that BV has read their contract, whether or not you have. At least that was my experience when doing some shuffling of accounts with them last year; they were well versed on the rules I had agreed to and went by the letter of them.
                  Most folks are good; a few aren't.

                  Comment


                  • #69
                    Re: Eric King Interviews Whistleblower Andrew Maguire And Adrian Douglas Of GATA

                    Originally posted by metalman View Post
                    now, now cow. how are they going to enforce a rule like that? what... do you have to bring a 'just got thrown out of my country' card to take your gold out?

                    maybe they don't want to take out a hack saw & cut your 50 oz off the end of a 1000 oz bar any time you feel like it.

                    to clarify this question, i'll send a note to bv & tell ya what i get back.
                    Hey Metal, what did you find out? DO Tell!
                    Last edited by jtabeb; 04-15-10, 10:12 AM.

                    Comment


                    • #70
                      Re: Eric King Interviews Whistleblower Andrew Maguire And Adrian Douglas Of GATA

                      Originally posted by LargoWinch View Post
                      to my knowledge leegs, the premium varies between 1.5% to 2.5% and remain unchanged since last year.
                      Largo -
                      Where do you buy 1 oz coins at spot-plus-2% ?
                      At Kitco right now a 1 oz Krugerand is $1,236.92 while spot price is $1,156. That works out to spot-plus-7%

                      I've been happy to buy coins at spot plus 5% and would love to get it cheaper.

                      Comment


                      • #71
                        Re: Eric King Interviews Whistleblower Andrew Maguire And Adrian Douglas Of GATA

                        Originally posted by thriftyandboringinohio View Post
                        Largo -
                        Where do you buy 1 oz coins at spot-plus-2% ?
                        At Kitco right now a 1 oz Krugerand is $1,236.92 while spot price is $1,156. That works out to spot-plus-7%

                        I've been happy to buy coins at spot plus 5% and would love to get it cheaper.

                        Thrifty, there is a concept I would like to introduce you to.

                        "Price Insensitive Buying".

                        This is a good rule of thumb to follow when buying physical PMs.

                        Here it is.

                        1. IF (have FIAT CASH=1)
                        2. THEN (Buy Gold + Silver until have FIAT CASH=0)
                        3. WHEN have FIAT CASH =1, GOTO line 1

                        Comment


                        • #72
                          Re: Eric King Interviews Whistleblower Andrew Maguire And Adrian Douglas Of GATA

                          Originally posted by metalman View Post
                          that's your interpretation of this? what, are you kidding?



                          bv is safer than bullion in your house if you live in a country that will tax the shit out of it if you try to sell it or take it out of the country. period.

                          now... if you're willing to break the law.. not pay the tax on sales... smuggle the physical out of the country... you don't need bv.

                          keep your 50 oz. buried in the yard... dig it up & sell it on the black market for 50% of market price. that doesn't work for folks with 1000 or 10,000 oz. & that's bv's customer.
                          Metalman,
                          where did you get the 50% of market price. Also I don't think it is illegal
                          to take Gold out of USA. Gold can be taken to India - pay Rs. 300 per 10 gm excise duty($1=Rs. 45) and then sell it to Gold Jeweller for 100%+duty rate. No loss. I was just wondering, where you got the 50% off. of course you cannot do the 1000 oz because there are limitations on import size.

                          Comment


                          • #73
                            Re: Eric King Interviews Whistleblower Andrew Maguire And Adrian Douglas Of GATA

                            Originally posted by jtabeb View Post
                            Thrifty, there is a concept I would like to introduce you to.

                            "Price Insensitive Buying".

                            This is a good rule of thumb to follow when buying physical PMs.

                            Here it is.

                            1. IF (have FIAT CASH=1)
                            2. THEN (Buy Gold + Silver until have FIAT CASH=0)
                            3. WHEN have FIAT CASH =1, GOTO line 1
                            Thank you, sir.
                            I agree in spirit and inclination, but have yet to go all-in like you.
                            Regardless, at step two I'd like to get the most gold for my fiat.

                            Comment

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