MONEY: Polish Ponzi hurts; a lesson for the USA and the Federal Reserve System “dollar”

http://www.zerohedge.com/news/and-why-you-always-demand-physical

Aaaand It’s Gone: This Is Why You Always Demand Physical
Tyler Durden’s picture
Submitted by Tyler Durden on 08/14/2012 21:09 -0400

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We have said it over and over, we’ll say it again. For all those who for one reason or another would like to boycott the broken markets, yet trade gold in paper form, please understand that all the invested capital is at risk of total loss and can and will be lost, commingled and rehypothecated, not necessarily in that order, with little to zero recourse and the residual claim on liquidating assets pushed to the very end of the queue. Because if Lehman, MF Global, Peregrine, and countless other examples were not enough, here comes Amber Gold: a gold-based investment ponzi scheme out of Poland, in which it is likely needless to say that the gullible investors never had actual possession of the gold. And when they tried, it was gone. All gone.

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Why do you trust that someone else is watching your assets?

Argh!

Ponzi is the meme.

Social Security Insurance, fiat paper money that channels John Law, and any promise made by politicians and bureaucrats!

Cynical?

Nah, realist.

Save your nickels!

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