Silver Storage: Get it right or risk losing all Silver Bullion, 26 December 2011 It is of outmost importance to get it right when it comes to silver storage, because one slip-up could cost you your entire or substantial portions of your silver holdings. In fact, if your silver is held by another party, the reality is that your silver holdings are 100% at risk, so make the required changes now before it’s too late. Invest in precious metals today! Contact us for details.
Invest in precious metals today! Contact us for details. If the MF Global debacle, where silver holders for one have been defrauded out of a massive portion of their physical silver holdings, is not a wakeup call, especially to those who still hold paper silver (electronic silver) or paper that is perceived to be backed by physical silver, then what will serve as a wakeup call? In the case of MF Global, the “…trustee overseeing the liquidation of the failed brokerage has proposed dumping all remaining customer assets—gold, silver, cash, options, futures and commodities—into a single pool that would pay customers only 72% of the value of their holdings. In other words, while traders already may have paid the full price for delivery of specific bars of gold or silver—and hold "warehouse receipts" to prove it—they'll have to forfeit 28% of the value” (The Silver Rush at MF Global, Yahoo Finance, Erin Arvedlund, 20 December 2011). Furthermore: “Of the 28% haircut, attorney and liquidation trustee James Giddens has frozen all asset classes, meaning that traders have sat helplessly as silver prices have dropped 31% since late August, and gold has fallen 16%. To boot, the traders are still being assessed fees for storage of the commodities” (The Silver Rush at MF Global, Yahoo Finance, Erin Arvedlund, 20 December 2011). Invest in precious metals today! Contact us for details.
Invest in precious metals today! Contact us for details. Thus, given the above, it is best to avoid both paper silver and storing one’s silver with another party like the plague itself. In fact, Bix Weir of the Road to Roota Letters is of the opinion that the “…ramifications of the MF Global collapse are intensifying around the world and investors are waking up to the reality that their assets are 100% at risk if held by another party. The entire electronic financial system is imploding as we speak and this includes savings, checking, CD's, 401k's, stock portfolios, bond portfolios...you name it. All of them are going up in smoke and if you are still "in the game" you are likely S.O.L. this late in the game. Even if you do get your money out before your bank or broker goes bankrupt the bankruptcy courts can exercise "claw-back provisions" to go after the $ you received 90 days prior” (Missing Silver Bars as MF Global, The Road to Roota Letters, Email Update). |
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