buying gold online in your smsf, page-24

Hi John Risk and all,

You wrote:


“In 2012 Australia was the second largest producer of gold after china, what do you think gold confiscation would do to gold mining and foreign investment in Australia?”


I fear you may be crediting the powers that be in Australia with more active brain cells than is actually the case. Back in 1997 Gold was a major industry for Australia but that did not stop them from shooting the industry well and truly in the foot with the sale of our gold reserves.

http://www.rba.gov.au/media-releases/1997/mr-97-13.html

By the way I have asked this several times without an answer, if they needed the cash at the time why not just keep the Gold and print up the money they required as they and all the other central banks do these days?

However; I do agree with your thoughts on Gold in a SMSF fortunately for myself I am only months away from access to my super and not thirty years away.

I don’t pin my hopes on super on the brains in power but feel fairly confident I can trust in their greed for their own interest in such matters.

Cheers and very best regards: Andy