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.

2 comments:

dgeorge12358 said...

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

fordmw said...

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