THIRTY-FIVE FREQUENTLY ASKED QUESTIONS ANSWERED 249I think people spend too much time watching the ticker
tape. Dollar by dollar, they get all excited when gold goes up a
little bit and they get depressed when it goes down a little bit.
I don’t do that. I watch it. I analyze it. I have a view on where it’s
going and I explain it in my books and in Strategic Intelligence.
What do you mean when you say store your pre-
cious metals in a “reputable non-bank vault?” Where can
investors find one?
Most banks will give you a safe deposit box and bigger
banks have vaults for large amounts of gold. Of course, the
government tightly controls the banking system. At the time
you want your gold, or, if you really need your gold, there’s a
strong possibility that the banks would be closed, at least tem-
porarily, and you wouldn’t be able to get it. That means you
need to find a non-bank vault.
When I say reputable, I mean one that’s been in business a
long time, which can give you good references and has insur-
ance. You can find them online. They’re all over the country.
Just find one that suits your needs and has been around a long
time. Make sure they have insurance.
Do you see the U.S. using bank bail-ins to recapi-
talize the banking system during the next crisis?
It’s more than talk and more than a possibility. It’s actually
in one of the G20’s working documents. You can find the G20
Final Communiqué, which says as much. It’s just about five
pages long, but there was one page of annexes and additional
working papers. There were dozens of those. If you click on
each one, you’ll find thousands and thousands of pages. It’s a
bit of a geek fest, but I did go through that, quite a bit of it, and
the bail-in language is there.
In an extreme crisis everybody wants his or her money
back. Last time, they printed the money to give you your money
back. Next time, they’re going to say you can’t have it. Instead,