That depends on our trust.
One fine day, if the owner disappears with all the gold, the buyers will lose the gold. However it is unlikely to happen that way. Moreover the gold is insured.
Definitely the safest option is to keep the possession of gold bullion by the seller itself. The challenge here is to find a suita6le storage
That happened with a gold storage company here in New Zealand back in the 80s. Goldcorp I think it was called. The owner skipped country to the USA and when the vault was opened all the gold was gone. I had a friend who had lot of gold dust stored there. That was the result of many hard winters and hard work. Gone just like that.
If you have metal then hold it yourself. And don’t hold paper gold because the gold that backs it probably is non-existent or, if it does exist, it can easily be siphoned off in times of economic crisis.
Thanks for the information!
I prepare for the crisis with a portfolio of 80% crypto and 20% knowledge to see the new opportunities that the crisis presents.
Because the crisis is a change of mentality and therefore new opportunities, new business models.
A bit expensive for me man. But I do like the crypto payment option 
Gold and silver have the same rules as crypto: Not your keys, not your coins. These days the 3rd party risk is too high. So it’s best to store your metals yourself.
This will happen again. More than people realize!
Studying here too for the same reason, stacked soap bars as currency if all else fails (for actual trade in dire circumstances, the need for gold is much lower than necessary items that are in great demand) and it all really becomes apocalyptic; soap might become a very valuable commodity. Further I have increased by reserve food supplies with an extra buffer and some with longer expiration dates. Food supplies might be disrupted and lead to shortages (in the US it already is happening). The extra buffer will allow to be able to smooth out a period with disrupted food supplies. Just to be prepared, if nothing of the sort happens, then at some point I will just have a period of less grocery shopping.
Yeah I absolutely agree that keeping gold at third parties is taking on a huge third party risk. If things get really bad financially, one cannot count on institutions to not fall over, which means about the only way is to keep it in physical form. As a normal part of portfolio investing with a regulated broker it should be fine in normal times, but if it is for financial collapse protection/hedge it should be held physically without third parties involved.
I really didn’t. But, this ain’t my first recession rodeo. Current options I’m either contemplating, doing or have done:
I know what you mean about them roots. I saw this shit show coming in early February so stocked up on hair colour. But really, I should just let it go grey and embrace my older and wiser self. And the dye I bought is now probably more highly valued than gold or bitcoin. I could make a killing. 
I have been preparing for a recession for the last two years by acquiring knowledge and eliminating debt. Currently, my preparation consist in maintaining a holistic health, storing food and learning how to grow it, learning more about finance and blockchain, and moving away from the fiat system.
Hahaha word sister! If you have the time to go more wise, wizardly grey, do it! If you don’t, join me in whatever we end up with 
This is my spreadsheet for a full overview as of today:
FAR too heavy on fiat right now, a lot of that is cash too - will convert more to gold the next days, super-easy here in Thailand 
Got started with crypto and using fintech like Revolut a couple of years ago, the way I see it having “channels” and ways of moving money around can become VERY important very soon!
Will normally also be around 10% in crypto, now doing the DeFi-course & will look into spreading a little around on different platforms for lending ++
Setting up a full spreadsheet on all resources is a good thing in my mind, this is something I spend time doing at intervals - next step with this one is a pie chart that shows me how many percents of my assets are liberated money and what is still caught in the fiat insanity
Costs here can be super low, today I had lunch for less than a dollar, spent around 10 on some stuff at 7-11 and other than that maybe 50 cents on gas for the motorbike. Could even pull it down even lower!
The one big thing here is visa an work permit, so far so good - and getting the certifications in the academy will help my status as an IT expert here
Yes, by taking this class. buying some physical security, precious metals, learning coding on another class that I am taking. Starting some new businesses. Thinking about becoming a content creator, trying to figure it out.(some sort of educational daily report on a variety of topics that I am familiar with (juicing/health, technology, real estate, how to be a risk taker and start a business), dealing with people when it comes to business/the psychology of business, the power of learning from others… Any suggestions?
Hi people, I’ve spread my investments with a few choice exchange tokents,some ETH and BTC.
I did well and bought most of my bag when I saw prices crash after the virus hit,but I can clearley see Ivan’s message is the best preparation. Learn the skills needed and supplied here to position yourself to catch all the low hanging fruit when the inevitability for this industries success is realised by the masses.
Spot on Ivan!
I buy leveraged instruments issued by https://www.vontobel.com/en-int/
At the moment I own 
and 
.
Silver is my favourite at the moment, next to crypto.
My crypto bag is still under development.
The last time I bought physical gold I went to Antwerp (http://argentorshop.be) they offered a fairly good service.
Hi @Dasboot, what is PCM with 43%? and why do you separate gold oz and gold baht? Is it gold or isn’t it?
