SnowDog wrote:
>
> > However, there is a risk (political) associated with each storage
> > facility depending on where it is. In that sense, those grams are no
> > longer fungible. In theory, a gram in Dubai is not necessarily as
> > safe as a gram in London... or vice versa.
>
> I've noticed that too. If we lose the gold in storage, in the Middle East,
> then our e-gold accounts will shrink.
>
> Craig
I don't see that there is anything particularly safer about storing
gold in Canada or the UK vs the UAE. If there are a good number of
arab heads of state, etc with gold stored in Dubai, UAE, they should
look out for the UAE the best they can. Switzlerland made out fine
during, and surrounded by, World War II.
And storing gold in the US?
"The possibility of a discriminatory capital-gains tax on gold
'profits,' or even of outright confiscation, cannot be wholly
dismissed. We must remember that in 1933, when private
citizens began to exercise their clear legal right to convert their
Federal Reserve notes and gold certificates into gold, President
Franklin D. Roosevelt suspended the conversion, ordered the
citizens to exchange their gold for paper money, and made it
illegal for private citizens to hold or own gold. In other words,
the government not only broke its solemn and explicit pledge to
convert its notes into gold on demand, but treated the holder
(and dupe) who had taken the pledge seriously as the real
culprit." - Henry Hazlitt
"It can probably be shown by facts and figures that there is no
distinctly native American criminal class except Congress."
- Mark Twain
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