It's 10 O'clock - do you know where your gold is?

[HenryBHough]

So there are those people who buy gold as an investment just as governments buy gold to back up their fiscal systems.

Some don't buy physical gold - they buy pieces of paper saying they own some gold. Governments don't usually do that - they buy the real stuff.

But then what do you to with your gold? What do governments do with theirs? They put it in a safe place. Like in a super vault somewhere other than in their own country and they get pieces of paper saying they have gold on deposit.

When they turn in those bits of paper they must immediately get their gold back, right?

Wrong!

There?s something fishy going on in the gold market - MoneyWeek

It's looking like OGG (Other People's Gold) is being rented out or worse.

"In fact, it’s estimated that the paper gold market – which should be a derivative of the physical market – is actually some 100 times larger than the physical market – ie, if everyone holding paper gold ‘stood for delivery’ at the same time, it would be impossible for every party to fulfil their obligations."

And that means there might, indeed be something fishy in the world of goldl. So, it's 10 O'clock and in addition to questioning where your kids might be - it's also time to question where your gold is!

 

[SteadyMercury]

I own no paper gold.

I prefer tangible assets I can see/feel to know they are physical and have value, like mutual funds.