Jim’s Mailbox

Posted at 11:22 AM (CST) by & filed under Jim's Mailbox.

Dear RC,

Jim advises that whilst he thinks the depletion of the Comex warehouse inventory will see the settlement move from physical gold to cash, there will be no default.

In regards to physical gold storage, Jim advocates only fully allocated storage as pooled accounts are problematic. We are in the midst of what Jim calls the ‘Great Levelling’ where banks will be bailed in with government approval and a systemic crisis the likes of which we have never seen before will see the average person robbed of their wealth. This is why Jim is telling us to GOTS which includes utilising allocated storage instead of pooled accounts and eliminating all third parties between you and your investments.

Regards,

Peter Mickelberg

Communications Consultant
www.jsmineset.com

 

Dear Jim,

The bill just passed by the House and Senate to extend and in the extension eliminate the DEBT LIMIT CEILING is a spenders dream. In all their brilliance and magnificence they also withdrew all limits on the amount of the Treasury Department’s borrowing. They can spend with impunity to the outer limits of the universe. Stick a fork in us, we are done.

CIGAs Larry & Mike

 

David,

When selecting an organization to store your bullion you are best served by carrying out your own due diligence. It is important to ensure that they provide a truly allocated storage system whereby you own a particular bar/bars with specific serial numbers. The company should also provide independent audits and have an insurance policy that  insures you against the storage company, any employee, any consultant or associate stealing the gold via any method including accounting fraud. The next question is what member of the big four auditing firms reviews the accountant’s statement and signs off on it as accurate and audited as compliant with International GAPP (International General Accepted Accounting as compared to US or Canadian GAPP Procedures).

Three of the companies you listed (Das Safe, Hard Assets Alliance and Certis Cisco) do not provide storage in Canada.

Regards,

Peter Mickelberg
Communications Consultant
www.jsmineset.com

 

Dear Anne,

There is simply no doubt that ‘bail ins’ of banks will occur. It is now a matter of when, not if it will happen. Accordingly, leaving liquidity with banks, particularly those that may have been exposed the ‘bail outs’ is not advisable. If you think your funds may be at risk then perhaps you should simply limit your bank accounts to a level that services your scheduled bills and top them up from your reserves as needed. Congratulations on your GOTS efforts to date.

Regards,

Peter Mickelberg
Communications Consultant
www.jsmineset.com