Egon, your insights into the impending surge in gold prices are both compelling and timely. As global debt reaches unprecedented levels and fiat currencies face devaluation, it's becoming increasingly clear that gold remains a steadfast store of value. Your analysis underscores the importance of diversifying one's portfolio to include precious metals. Thank you for shedding light on these critical economic shifts
“Widows & Orphan's” a good old City expression. If Tump told me every day of the week ended in”day” I would not believe him. To properly audit USA gold reserves would take months. If it’s not all accounted for, you can bet they would NEVER REVEAL THAT, so if I want to watch a Soap, I’ll watch Baywatch….at least it got real tits in it.
Yes! If you read the prospectus for for GLD after reading the linked article, you will see the gold in GLD is neither allocated or segregated, it is not yours, and if you ask for it, they have the right to settle in cash, not metal.
Thanks for all the replies! But the central question remains whether GLD actually owns physical gold that supports its market cap. I don’t want to cash in GLD for physical gold, I want it to rise and fall with actual gold prices without a risk of an opps moment that crashes the price of GLD because it is revealed that the quantity of physical gold doesn’t match its market cap.
Given that more detailed need statement, you should ask a financial advisor if the GLD shares meet your investment need. For what little it’s worth, based on my reading of the prospectus, an investor has little hope that the trust holds enough gold to back up their share value when markets get extreme.
Been following your advice since 10/2015 when started buying Gold 🪙 and Silver 🥈. Still buying both. Have amassed a good amount, have become a my own central bank. Leaving CDN $ paper assets and am storing physical assets outside banking system. My family will be protected. God bless you.
Strategic Wealth Preservation and Kinesis in the Cayman Islands. Degussa in Switzerland and Singapore. Singapore has a few others that are well known, such as Bullion Star and Singapore Precious Metals Exchange (SGPMX).
Stun/panic would be a better description. For those of us who are avid followers of yourself and Matt, yes I agree we will be surprised by how high it may go. Surprised but not shocked. However, for the majority, they will be utterly stunned and driven to panic by what happens. That said, I wonder how many nae sayers are there today after seeing the gold price take a size 12 boot in the gentleman's area. Painful it may be, but safe in the knowledge that it is just taking a breather before it's climb towards the summit. Thanks for your passion. Never surrender!
For specific questions about our gold products, please contact us directly: https://vongreyerz.gold/contact?utm_source=substack-comments
Egon, your insights into the impending surge in gold prices are both compelling and timely. As global debt reaches unprecedented levels and fiat currencies face devaluation, it's becoming increasingly clear that gold remains a steadfast store of value. Your analysis underscores the importance of diversifying one's portfolio to include precious metals. Thank you for shedding light on these critical economic shifts
“Widows & Orphan's” a good old City expression. If Tump told me every day of the week ended in”day” I would not believe him. To properly audit USA gold reserves would take months. If it’s not all accounted for, you can bet they would NEVER REVEAL THAT, so if I want to watch a Soap, I’ll watch Baywatch….at least it got real tits in it.
Always love to read your posts and this is certainly newsworthy, auditing Fort Knox. Never thought I'd see the day!
Do you consider GLD and IAU - physical gold backed ETFs “paper gold”? Be specific. Are you only referring to futures contracts?
https://vongreyerz.substack.com/p/gold-storage-in-banks-think-again
Yes! If you read the prospectus for for GLD after reading the linked article, you will see the gold in GLD is neither allocated or segregated, it is not yours, and if you ask for it, they have the right to settle in cash, not metal.
Exactly: "Own physical gold outside the banking system—safe, accessible, and in your control"
Any Link to prospectus, to quote?
https://www.spdrgoldshares.com/media/GLD/file/SPDR-Gold-Trust-Prospectus-20200818.pdf
Reasons from Prospectus You Can’t Physically Redeem Gold from GLD:
- Only Authorized Participants (APs) Can Redeem – Retail investors cannot redeem gold, only APs like banks and broker-dealers.
- Redemption Requires 100,000 Shares – Only large "Baskets" (100,000 shares) can be redeemed, making it impractical for most investors.
- Shares Represent Gold Value, Not Ownership – GLD shares track gold prices but do not provide direct ownership of gold.
- Gold is Sold to Cover Expenses – The trust regularly sells gold, reducing the amount backing each share over time.
- GLD Pays Out Cash, Not Gold – When selling shares, investors receive cash based on market value, not physical gold.
- Gold is Held by HSBC, Not Investors – Stored in HSBC’s vault, with reliance on subcustodians, adding third-party risk.
- Trust Can Be Liquidated – If NAV drops below $50M for 50 days, the Trust may be terminated, and gold would be sold for cash.
Thanks for all the replies! But the central question remains whether GLD actually owns physical gold that supports its market cap. I don’t want to cash in GLD for physical gold, I want it to rise and fall with actual gold prices without a risk of an opps moment that crashes the price of GLD because it is revealed that the quantity of physical gold doesn’t match its market cap.
Given that more detailed need statement, you should ask a financial advisor if the GLD shares meet your investment need. For what little it’s worth, based on my reading of the prospectus, an investor has little hope that the trust holds enough gold to back up their share value when markets get extreme.
https://www.spdrgoldshares.com/media/GLD/file/SPDR-Gold-Trust-Prospectus-20200818.pdf For those who want to see it for themselves, The first paragraph of the prospectus lists all the business entities between you and the “gold” in GLD
Been following your advice since 10/2015 when started buying Gold 🪙 and Silver 🥈. Still buying both. Have amassed a good amount, have become a my own central bank. Leaving CDN $ paper assets and am storing physical assets outside banking system. My family will be protected. God bless you.
Bull market taking a break to shake weak hands out. Also, it’s a time with increasing volatility.
What are the options to store gold outside of your country of residence in a jurisdiction with low theft or confiscation risk ?
https://vongreyerz.substack.com/p/gold-storage-in-banks-think-again
Really find tons of value in your podcasts and also Egon’s publications.
I am currently using Perth Mint. Works for me and also recommended by Doug Casey. It’s the most remote major city in the world. All in allocated.
Strategic Wealth Preservation and Kinesis in the Cayman Islands. Degussa in Switzerland and Singapore. Singapore has a few others that are well known, such as Bullion Star and Singapore Precious Metals Exchange (SGPMX).
Stun/panic would be a better description. For those of us who are avid followers of yourself and Matt, yes I agree we will be surprised by how high it may go. Surprised but not shocked. However, for the majority, they will be utterly stunned and driven to panic by what happens. That said, I wonder how many nae sayers are there today after seeing the gold price take a size 12 boot in the gentleman's area. Painful it may be, but safe in the knowledge that it is just taking a breather before it's climb towards the summit. Thanks for your passion. Never surrender!
Would one need an exit strategy from gold bullion? I would think that would only apply to gold and silver stocks.