My assets are insured also
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They might need to be. You get a private company to store your gold and silver?
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This scenario should come as no surprise to those who lived in any one of the heydays of investor fraud in South Florida. A decade ago, nearly four dozen shops offered to buy and safely store precious metals for clients. The industry was lightly regulated, which attracted unscrupulous operators who generated $91 million in losses for customers. The most famous Ponzi scheme was Global Bullion Exchange, which accounted for a third of that amount.
Look back to the ’80s and you’ll find nearly the same scam with nearly the same name. International Gold Bullion Exchange, which became the largest retail gold dealer in America, stole $44 million from investors before it was shut down. To help perpetuate the fraud, organizers showed customers the glistening inside of a vault which appeared to hold their gold ingots. The fraud victims didn’t know they were looking at painted wood blocks.
