goldmoney - cash holding - any thoughts?

Discussion of the Cash portion of the Permanent Portfolio

Moderator: Global Moderator

Post Reply
murphy_p_t
Executive Member
Executive Member
Posts: 1675
Joined: Fri Jul 02, 2010 3:44 pm

goldmoney - cash holding - any thoughts?

Post by murphy_p_t » Thu Dec 02, 2010 6:24 am

for purposes of geographic diversification, i am looking for your thoughts on holding a portion of the cash position in goldmoney.com cash. from speaking goldmoney, this cash is NOT in a segregated account, so there is no effective backstop similar to FDIC insurance. the funds are held in a common account at RBS - Jersey branch.

your thoughts?
thanks.
User avatar
AdamA
Executive Member
Executive Member
Posts: 2336
Joined: Sun Jan 23, 2011 8:49 pm

Re: goldmoney - cash holding - any thoughts?

Post by AdamA » Wed Jan 26, 2011 2:46 pm

I think it's a bad idea.  When your money is in their bank, it is subject to credit risk.  If you have your money with Gold Money, keep it in gold.  If you have it in cash, US Treasuries are really the only way to go.

Adam
"All men's miseries derive from not being able to sit in a quiet room alone."

Pascal
User avatar
MediumTex
Administrator
Administrator
Posts: 9096
Joined: Sun Apr 25, 2010 11:47 pm
Contact:

Re: goldmoney - cash holding - any thoughts?

Post by MediumTex » Wed Jan 26, 2011 3:24 pm

I don't see the benefit that would accompany the risk.
Q: “Do you have funny shaped balloons?”
A: “Not unless round is funny.”
Post Reply