Paper Gold and Gold Passbook Scams
https://goldsilver.com/article/paper-gold-and-gold-passbook-scams/
What if you thought you were saving gold, only to learn too late in this gold bull market, that you were merely saving counter-party risks with a bank?
If you have a passbook gold account, also known as paper gold, it is highly likely a risk filled exposure to the spot gold price is all you own.
Over the last few years, we have had the opportunity to speak to a myriad of gold investors in Asia, particularly when establishing our segregated gold vault options in Hong Kong and our upcoming Singapore location.
When speaking about gold investments with Asian investors, one has to always clarify the specific type of gold investment vehicle in question.
Throughout Asia, although gold investing is seemingly prevalent and a culturally accepted phenomenon, one must always ask the direct question...
Do you own paper gold OR physical gold ?!
Read the rest at the link above. It listed a whole bunch of Asian companies in on the scam.
