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View Full Version : Opinion about GOLDMONEY.COM?



strongman shelford
26th July 2008, 20:49
This company offers a solution that may suits my needs.
opinions?

Trvlr45
26th July 2008, 23:18
I was thinking about Goldmoney also. They have a very good system that pretty much allows you to put money in gold or silver bullion where no one can steal it. Including the central banks.

Unfortunately, right now they are being looked at because our government is claiming that Goldmoney is being used by terrorists. Gee, what a surprise! They want to shut down one of the last safe havens for storing wealth.

Whether they succeed or not remains a mystery.

SilverHawk
27th July 2008, 01:52
If you can't put your G/S into your hands within a few hours, it's not 100% safe. And I don't mean safe deposit box either.

kingdombuilder
29th July 2008, 10:14
No one will ever convince me that its safer to store your stash with anyone except oneself. Hiding stuff in a safe spot is very easy....

argentos
29th July 2008, 12:27
Unfortunately, right now they are being looked at ...


It's still better than a safe deposit box.

Park Lane Safe Deposit, Mayfair, London.

Police got a warrant and opened EVERY deposit box.

http://www.thesun.co.uk/sol/homepage/news/justice/article1239179.ece

Honest depositors had to prove who they were to get their stuff back and were doubtless referred on to HMRC (tax peeps).

I suppose people who had booked their boxes in alternative names lost the lot.

nuslvrkwen
29th July 2008, 13:26
Wow, The US killed e-gold.com also. Technicality based on permits, and the terrorist funding paranoia. So in reality, there isn't really a way for an entity to really offer this kind of service, is there?

I went to WaMu and took out all my PM and gemstones that were in the safe deposit box over a week ago, following my own intuition...

I wish there was a way to use tax deference like with a 401K; so you could buy and store your metals where you want! As long as you buy in $1000 increments you won't pay tax, but we should be able to own our investment vehicles.

strongman shelford
29th July 2008, 17:29
WAIT A MINUTE.

GOLDMONEY.COM is not under US laws right?

argentos
29th July 2008, 18:13
WAIT A MINUTE.

GOLDMONEY.COM is not under US laws right?

Right.

Net Transaction Limited (GoldMoney) is regulated by the Jersey Financial Services Commission (http://goldmoney.com/en/images/about-images/jfsc-license.pdf)

When you purchase precious metals through GoldMoney, the gold and silver bullion is stored securely at the VIA MAT vaults in London, England and Zurich, Switzerland. VIA MAT International is part of Mat Securitas Express AG, of Switzerland, one of Europe's largest and oldest armoured transport and storage companies.
Your gold and silver are insured against theft from the vault through a policy underwritten at Lloyd's of London.The Bailiwick of Jersey is a very special place. It is a Dependency of the British Crown but in no way part of the UK or the EU. It has its own laws.

Looks like the physical gold is under English and/or Swiss Law. Goodness knows who the official beneficial owners of it are.

Try sorting that lot out at short notice!

But doesn't the US claim that US law applies to all US citizens wherever they are anyway, as well as to foreigners who have never been near the place before being kidnapped in Africa and flown to some enclave in Cuba that counts as part of the US?

Individuals like me have no chance of understanding these international companies and laws.

joshrain
29th July 2008, 22:51
I was thinking about Goldmoney also. They have a very good system that pretty much allows you to put money in gold or silver bullion where no one can steal it. Including the central banks.

Unfortunately, right now they are being looked at because our government is claiming that Goldmoney is being used by terrorists. Gee, what a surprise! They want to shut down one of the last safe havens for storing wealth.

Whether they succeed or not remains a mystery.

hi .. could you point to the source that goldmoney is being used by terrorists please?

argentos
30th July 2008, 03:40
hi .. could you point to the source that goldmoney is being used by terrorists please?

If it's anything like the UK they only have to suspect that terrorists might be using it. Anti-terrorist laws were rushed in without being thought through properly. Could be summat as simple that someone made a joke in a bar that was misoverheard.

A local council here used anti-terrorist law to spy on a couple to check that they really did live in the catchment area for the kids' school.

skijake
30th July 2008, 11:08
Aren't FRNs and Euros used by terrorists also? Ahh, the hyprocrisy of our officials.:rolleyes:

nuslvrkwen
30th July 2008, 11:54
Thanks Argentos for giving us some background on who owns/maintains what! I'd heard of goldmoney.com but didn't know this detail. If a person is planning on getting PMs together to eventually travel; and goldmoney.com is secure its' the perfect place to build a reserve so that if I leave the US for a time, I'd have PMs secured somewhere else.

Another way of securing funding if you move around.

argentos
30th July 2008, 13:08
secured



"The only certain things in life are taxes and death." - Traditional saying. :p

"Don't put all your eggs in one basket." - Traditional saying No.2. :p

JaySpizzy
30th July 2008, 17:34
Goldmoney is a great way to go. They are insured 100% by Lloyds of London (better than FDIC), audited quarterly (stock and procedures) by Deloite and Touche, and they keep their bullion in vaults in London and Switzerland. You don't have to use your SS# to open an account. James Turk set it up right, expecting the trouble that will come when SHTF. At the touch of a button, your gold/silver will be shipped anywhere in the world.

BTW, Its also a very good way to exchange into foreign currencies.

One minus is that there is a purchase fee that is a bit higher than outright buying bulliion. Best way around it is to buy goldgrams on kitco.

argentos
30th July 2008, 17:57
.....

Best way

.....



But please remember the eggs and the baskets! :p

strongman shelford
30th July 2008, 18:23
eggs and what? :p


sorry


Please remember, holding the dollar is a kick in your eggs :p

SilverHawk
31st July 2008, 01:36
I don't think some of you are getting it, here. Let me explain....

You exchange your money into gold/silver and the company "stores it in a vault" for you. Never mind that you must "take their word" that this is what they're doing for you.

Inflation hits, then turns to hyperinflation. SELL SELL . . I want my gold and silver. OK, you must turn in a sell order on, oh, let's say Monday morning. Tuesday they process the order, Wednesday they mail out a check to you. You get your check on Friday at the earliest, possibly Monday. You take it to the bank. They put a 3-4 day hold on it until it clears.... ZZZZzzzzzzzz

Meanwhile the price of a gallon of milk has gone from $24 to $150 a gallon. You just lost 75% of the value of your investment from the day you sold, to the day you got control of the money.

That's if the company doesn't turn out to be a fraud, and you do get paid.... A chance you have to take, cause you'll never know until the day you cash in.


No thanks. The only way I can sleep at night is knowing my silver is close by.

SilverHawk
31st July 2008, 01:38
And also, if you think they'll send you the G/S in the mail, think again. They'll be a new law that forbids citizens to hold PM's, by that time.

strongman shelford
31st July 2008, 06:01
Silverhawk is right.
If you need your silver for daily expenses, it`s not a proper solution in hyperinflation.
I already been in hyperinflation. So it is history reapeating itself form, but in the financial center of the world now.
BUT, goldmoney.com can send your silver or gold to you ;)

Anyway, Nothing more beatiful than a couple of silver bars in your bed :p






I don't think some of you are getting it, here. Let me explain....

You exchange your money into gold/silver and the company "stores it in a vault" for you. Never mind that you must "take their word" that this is what they're doing for you.

Inflation hits, then turns to hyperinflation. SELL SELL . . I want my gold and silver. OK, you must turn in a sell order on, oh, let's say Monday morning. Tuesday they process the order, Wednesday they mail out a check to you. You get your check on Friday at the earliest, possibly Monday. You take it to the bank. They put a 3-4 day hold on it until it clears.... ZZZZzzzzzzzz

Meanwhile the price of a gallon of milk has gone from $24 to $150 a gallon. You just lost 75% of the value of your investment from the day you sold, to the day you got control of the money.

That's if the company doesn't turn out to be a fraud, and you do get paid.... A chance you have to take, cause you'll never know until the day you cash in.


No thanks. The only way I can sleep at night is knowing my silver is close by.

strongman shelford
31st July 2008, 06:03
And also, if you think they'll send you the G/S in the mail, think again. They'll be a new law that forbids citizens to hold PM's, by that time.


Oops, maybe he is RIGHT AGAIN.
NEW IMPORT TARIFFS OR NEW TAXES CREATED for bringing your precious ones.


But If you don`t trust your government, then it`s better to keep your bars in Switzerland ...right?

pkrebaum
31st July 2008, 06:58
then it`s better to keep your bars in Switzerland ...right? - S. Shelford

The Swiss are becoming ever more compliant with US requests for access to Swiss bank accounts, etc. If the U.S. declares something illegal they'll turn it over.
I suppose some day holding PM will be considered a "subversive act", because it subverts their power of being the supreme issuer of debt. And they can get anything they want simply by adding "terrorism" to the crime..... so holding PMs will become "currency terrorism" or "economic terrorism".

If you don't hold it you don't own it. :)

JaySpizzy
31st July 2008, 15:17
I don't think some of you are getting it, here. Let me explain....

You exchange your money into gold/silver and the company "stores it in a vault" for you. Never mind that you must "take their word" that this is what they're doing for you.

Inflation hits, then turns to hyperinflation. SELL SELL . . I want my gold and silver. OK, you must turn in a sell order on, oh, let's say Monday morning. Tuesday they process the order, Wednesday they mail out a check to you. You get your check on Friday at the earliest, possibly Monday. You take it to the bank. They put a 3-4 day hold on it until it clears.... ZZZZzzzzzzzz

Meanwhile the price of a gallon of milk has gone from $24 to $150 a gallon. You just lost 75% of the value of your investment from the day you sold, to the day you got control of the money.

That's if the company doesn't turn out to be a fraud, and you do get paid.... A chance you have to take, cause you'll never know until the day you cash in.


No thanks. The only way I can sleep at night is knowing my silver is close by.
Good points.
Okay, well here's another scenario:
**** has hit the fan- hyperinflation and all. Chaos everywhere, people in the streets, and Congress is debating a slew of new legislation to restore order in the cities, and in the economy- one of which has to do with gold/silver confiscation, and another with detaining rioters and terrorist suspects. You figure maybe its time to go, while you still can, but how are you going to get your silver stash out with you?
Fortunately for you, you put one quarter of your wealth in an offshore acct. You leave most your stash in a "safe" place for now, use some Eagles to get your family to Germany, and have the metals in your offshore vault holdings transferred to Swiss francs, Euros, or Yen online and wired to a bank there.

Point is, we don't know where the pressure will hit first. So the diversification thing is a good bet.

JesterJay
31st July 2008, 16:07
I don't have my new glow in the dark, i-pod capable, decoder ring yet.
Hold off the SHingTF,
JesterJay



Good points.
Okay, well here's another scenario:
**** has hit the fan- hyperinflation and all. Chaos everywhere, people in the streets, and Congress is debating a slew of new legislation to restore order in the cities, and in the economy- one of which has to do with gold/silver confiscation, and another with detaining rioters and terrorist suspects. You figure maybe its time to go, while you still can, but how are you going to get your silver stash out with you?
Fortunately for you, you put one quarter of your wealth in an offshore acct. You leave most your stash in a "safe" place for now, use some Eagles to get your family to Germany, and have the metals in your offshore vault holdings transferred to Swiss francs, Euros, or Yen online and wired to a bank there.

Point is, we don't know where the pressure will hit first. So the diversification thing is a good bet.

pkrebaum
31st July 2008, 16:09
If they start coming after PMs it would probably be very easy to swap PM for diamonds...... nothing packs more value into such a small space. Plus, almost every woman owns one, so I doubt they'd ever be made illegal. Bad news is you don't get back nearly what you paid when you have to sell.

strongman shelford
31st July 2008, 19:40
FLASHING NEWS!!


****SILVER SMUGGLER WAS FOUND AT HIS HOME BY LOCAL POLICE YESTERDAY.
THE SUSPECTED TERRORIST WAS NAKED and TALKING TO HIS BELOVED SILVER BARS. POLICE CONFISCATED HIS SILVER BARS, DELIVERED THEM TO THE FEDERAL RESERVE.
TERRORIST IS NOW BEING INTERROGATED AND TRANSFER TO A MAXIMUM SECURITY UNIT...
**********
***GOLD AND SILVER "SMUGGLERS" WERE ARRESTED NEAR THE borders of Canada. There are 200 similar cases this month . Most of these suspects are linked to terrorist groups, drug cartels, "Shadow organizations" , most of them , with anti-american operations ...******

**** "The republic must be restored".
" I will build a Grand Army of the Republic". ( Chancelor Palpatine: StarWars)

:rolleyes: