Monday, January 23, 2012

Non Bank Vaults

"Fact is, all lies, all evil deeds, they stink. You can cover them up for a while, but they don't go away."
--Dalton Russell (Inside Man)

Interesting comment in this missive by James Turk on storing gold in vaults. Turk suggests using non-bank vaults. Banks are in the business of lending. Non-bank vaults (presumably places like Brinks) are in the business of storing. As such, safe-guarding assets is likely to be a more important part of non-bank vault operator business model.

Interesting thought.


dgeorge12358 said...

India is the first buyer of Iranian oil to agree to pay for its purchases in gold instead of the US dollar.

fordmw said...

Have you ever interacted w/ non-bank vault operators?