which bank is better for gold ?
publicbank or?

http://www.fdic.gov/bank/individual/failed/banklist.html

Some may say thats US.
Well, it may never happen in Msia. BUT there will be bailouts if
there is a CURRENCY crisis.....GloBALLY. To this, never say never.
Bailout would mean CEntral Bank printing money to gear up the
balance sheets like what the ECB is doing..........printing out of thin air.

Hyperinflasi, anyone?

inflasi is legalised robbery by Central banks of the general population...........thats being
done right under yer noses.

Value preserved indeed........2001 to 2012 GOLD PRICES

2000 -- $273.60

2001 -- $279.00

2002 -- $348.20 ----- MYR1150

2003 -- $416.10

2004 -- $438.40

2005 -- $518.90

2006 -- $638.00

2007 -- $838.00

2008 -- $889.00

2009 -- $1096.50

2010 -- $1421.40

2011 -- $1566.80

2012(latest)$1700 ---- MYR5200

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Added on March 9, 2012, 10:24 amEarlier today, we reported that Germans are increasingly concerned that their gold, at over 3,400 tons a majority of which is likely stored in the vault 80 feet below street level of 33 Liberty (recently purchased by the Fed with freshly printed money at far higher than prevailing commercial real estate rates for the Downtown NY area), may be in jeopardy,and will likely soon formally inquire just how much of said gold is really held by the Fed. As it turns out, Germany is not alone: as part of the "Rettet Unser Schweizer Gold", or the “Gold Initiative”: A Swiss Initiative to Secure the Swiss National Bank’s Gold Reserves initiative, launched recently by four members of the Swiss parliament, the Swiss people should have a right to vote on 3 simple things: i) keeping the Swiss gold physically in Switzerland; ii) forbidding the SNB from selling any more of its gold reserves, and iii) the SNB has to hold at least 20% of its assets in gold. Needless the say the implications of this vote actually succeeding are comparable to the Greeks holding a referendum on whether or not to be in the Eurozone. And everyone saw how quickly G-Pap was "eliminated" within hours of making that particular threat. Yet it begs the question: how many more international grassroots outcries for if not repatriation, then at least an audit of foreign gold held by the New York Fed have to take place, before Goldman's (and New York Fed's) Bill Dudley relents? And why are the international central banks not disclosing what their people demand, if only to confirm that the gold is present and accounted for, even if it is at the Federal Reserve?

http://www.zerohedge.com/news/switzerland-...ck-new-york-fed

This post has been edited by prophetjul: Mar 9 2012, 10:42 AM

Bingo, central banks and gov would rather print money for bail out the banks and financial system instead let the banks failed that could have catastrophic consequence to the economy.
So the risk of banks unfolding or so called "close shop at anytime" is minimal, (I never say never or won't )

I would worry about inflation instead of worry "banks can close shop anytime"

Technically the banks have ALREADY FAILED............. thats why they need intervention.
How come they always save the TOO BIG TOO FAIL and not the small ones?

Printing the money basically is a legalised thievery used by the Central Banks.
It means your 1USD in your savings account is slowly/hastily diluted to maybe 30 to 50% of its value or more
depending on the issue of M2.
AND this is through NO FAULT off the depositor!

SO INflation is Thievery........ the institution may not close shop, but your
savings is diminishing slowly......

So back to your contention that theres more likely theft of physical gold........
well theres your legalised theft of paper in your savings account

Bro, we are talking banks fail or not in the previous statement.
Whether technically the bank has failed or not, doesn't matter for ordinary folks that invested in paper gold with the bank.
The ultimate question is the bank still open?
Yes.
The bank fulfill the the gold price according the Comex futures gold pricing/movement?
Yes.

End of story.

Simple minds fed by simply manipulated media create simply foolish public........

You talked about theft as well...

The banks have failed......one fine day the failure will be so big that in one day
they might find that their Rm1 becoming 30 sen IN ONE DAY like the Argie peso in the 90s.

im selling gold with lower price....jewellery or public gold product...contact me... for best price...u will never regret it....cod kota bharu

This post has been edited by eligator_89: Mar 9 2012, 11:14 AM

I am simple person, I am not sophisticated as you.
I only know everyday I go to bank for the last 40 years, all banks open, never fail.
I only banks fulfill their promise every cent and my paper gold is according to gold market price.

One day? Which day?
I cannot even know next month or next week event.
One day? Never mind, as I may no longer exist already.

Rm1 become 30 cent?
I experienced before RM2.50 USD within months become RM4.30.
I experienced how a bowl of mee come from RM0.20 to now RM4.00.

I taught previously said print money can bail out already, why now said banks failed again?
I am really confused now.

Yes

Thats central bank manipulation at work.........i remembered that well.
i had to spend Rm4.3 to the USD in 1998 in NY!

They have failed but you cannot 'see' because of the indoctrination
by the gov that fiat is best.........

If you have an ounce of gold 2000 years ago.. today it will still be gold...

If you go to the bank 40 years ago it may still be a bank... what about 2000 years later?(I guess no point talking about future.. who knows)

Why we are called the gold bugs because, we don't like ppl to say how much should a paper worth by selected ppl. Money is only as good as it gets if is only limited.

We just want a standard. We don't want to make a profit. We just want to keep that buying power.

Maybe what i said is not what u think is correct. It is fine with me.. you can believe in the institution of money.. that is your choice and i respect that.

This post has been edited by dc28yk: Mar 9 2012, 12:26 PM

Those people who keep saying bank will fail thus the reason to buy previous metal, are you all buying and then selling later? or you all will keep it forever until the time comes when barter is accepted?

Cuz if using the said example above, people buy and wait for gold price to raise and sell to earn the "profit" isnt it being hypocrite?

May be they hope after banks fail and send fear to the market, by then gold price can become USD10,000.

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Added on March 9, 2012, 2:05 pmWho care 2000 years?
I only care the most 50-60 years, now about 30 years has passed, left half only.
The rest time frame, I am dead body, why care?
I don't care bank fail after 100 years, I don't care gold price is how much after 80 years as well.

I waited 30 years, yet purchasing power by owning gold is not restored.
Standard, what standard?
I cannot buy goods and foods out there using gold, I need to convert to fiat money first before I can buy.
People keep on saying own gold can maintain the buying power, but I cannot even after 30 years.
Another 30 years cannot restore the purchasing power, I am a dead man. Money, gold is useless to me by then.

This post has been edited by cherroy: Mar 9 2012, 02:05 PM

Failure of banks, if you read my previous posts does not mean closure.
It means it morph into another form costing the custimer lots of pain.

i am already trading gold and the failure has ALREADy happen
AND is still

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Added on March 9, 2012, 2:22 pmi waited only 2 to 3 years from 2002 and i saw the value maintained in gold.

If you think gold is useless relic sell it to me at USD1 per gram ler.....
i give your fiat which maybe maintain your value......

This post has been edited by prophetjul: Mar 9 2012, 02:22 PM

I am sure cherroy thinks gold as a way to capitalize the gain as for him, if within his years where he still can enjoy "get rich scheme" why not? when a person is old, his/her gold will be inherited by their kids, he can't eat the gold if the said financial "crisis" does not happen.

Don't get me wrong, I do not say gold is useless, but all the reason people give that fiat system will go to buy gold is abit uncalled. If fiat system goes, I can say a water well would be much more worth it than gold.

Who said I view gold is useless.
It is another investment that can make you money.

OK, sell my gold to you at Rm200/g. Want ar? valid until this month.
Then I use the money to buy McD share.

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Added on March 9, 2012, 2:37 pmFrankly speaking by that stage, life is more important.

This post has been edited by cherroy: Mar 9 2012, 02:37 PM

UOB offer better price for gold.

Below are today rate:-
UOB
Selling-RM166.80
Buying-RM164.80

Public Bank
Selling-RM168.50
Buying-RM161.89

CIMB
Selling-RM167.70
Buying-RM162.10

Maybank
Selling-RM167.80
Buying-RM160.84

Indeed. For cherroy, it appears he bought on recommendation without doin DD.
A bitter experience from the 80s.
Although you cant eat gold, neither can he eat fiat.
The crsis is already here! Gold is NO LONGER $250 in case you missed it.
The crsis has been here since 2008.......USD has been devaluating since 2002





And what reasons people give to buy gold?

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Added on March 9, 2012, 3:17 pmi have too much from 2002 already.......since you dont know
whats gonna happen tmoro, sell it to me T RM150 ller this uselss relic....

This post has been edited by prophetjul: Mar 9 2012, 03:17 PM

I listened to gurus-gurus said, gold can protect my wealth, gold can hedge you inflation, gold can let your buying power remain the same, gold is better the money etc., just like many posts here.

As said, I am a simple person, people said especially from gurus-gurus one, I listened loh. Then, 25 years pay the price for it.

Rm200/g non-negotiable.

This post has been edited by cherroy: Mar 9 2012, 03:23 PM

In the 80s, how you meet these grus?

Did you ask Why, How, Where, When?

Do you still have your gold?

Does it still weigh the same?

Has it increased in fiat value?

This post has been edited by prophetjul: Mar 9 2012, 03:25 PM

I will pay the price u paid in 80's all of them.

20 years ago is 20 usd a gram.

I pay back what u pay 20 years ago.

I pay u cash for all the gold u have. Please PM me.