Darkman124 posted...Slaya4 posted...
Some sources say that paper metals (ETFs) arent really backed by actual metals. Some sure, but not all. If I were to go that route, I would personally rather get physical gold/silver not an ETF. At least, I can look at it sparkling.
which sources say that
ETFs are legally required to have disclosures that identify all holdings that back their equity assets so any source claiming that is basically levying multi-billion dollar level fraud
Sorry, that was such an ugly way to say that reading it the next day. A more specific way to what I was saying, the whole situation in Venezuela and Germany not getting their gold back leds me to believe that, at any one time, an ETF may or may not actually have the actual gold since it appears that the central banks dont have it.
ETFs kind of go against the purpose of buying gold because if the government blows up that gold is no longer yours. That and the futures market for precious metals leads me to have a distrust for paper metals. Its a fallacy, agreed, but I just have trust issues with my money. Though, I do see the benefit of them.
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Am I going too hard?