Banks often practice something called fractional reserve banking, where the bank only has to store some of your money, allowing it to invest and loan the rest. Customers may wish to withdraw their money, but if too many people have already taken back their investments, the bank cannot meet the demand, and you’ll have to wait for the bank to get more money. While this occurrence is rare, it’s not unheard of, and such “runs on the bank” have cause serious economic problems in the past.

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GoldMoney is a precious metals investment company that won’t mess around with your investments. Every gold bar you buy from them sits in a secure vault, and there’s no virtual ownership of the metal; it’s entirely yours. In fact, clients may have their metals delivered to them so that they can store it, sell it, or trade it themselves.

Relying on GoldMoney to manage the storage and movement of your investments may be the better option, since their infrastructure allows fast transfers and quick transactions, things that would be fairly difficult if dealing with the metals yourself. Additionally, their vaults are protected by VIA MAT and Q4S, depending on the location, which are companies that are well-known for their level of professionalism and competence.

How to Open a GoldMoney.com Account

Buying precious metals from GoldMoney.com starts with opening an account, called a Holding. Doing so is free, and can be relatively easy and quick, depending on where you live. GoldMoney operates in many countries, 44 of which allow “fast-track” registrations which can be completed quite swiftly. Residence and identity authentication is an important part of the process, ensuring that only legitimate clients can open Holdings. Residents of three nations (the US, the UK, and Canada) must have their identities confirmed by Equifax, a consumer report company. Potential clients must meet the requirements of the Customer Acceptance Policy before they can begin using Gold Money.

There are three levels of Holdings, based on the level of authentication the client has undergone. A Limited Holding is extremely restricted, and serves mostly as a placeholder. Basic Holdings are only available to clients from fast-track nations, and allow them to buy, sell, and trade metals. For complete functionality, a client will need to be entirely verified, which provides them with a Full Holding. This most advanced account lets the client use his or her money to make purchases or payments, using the stored gold and other metals.

GoldMoney Payment Options

After you’ve opened an account, you can start adding funds so that you can develop your Holding. GoldMoney accepts bank wire transfers, and provides a simple system to allow such transfers. A client enters the amount and type of currency he or she wants to transfer into the online form. The site will provide an appropriate wire request form to be printed out; a bank will complete the wire transfer when provided with the request form.

In order to provide an easy way to transfer your money back to your bank, you’ll want to add the details of your bank account to your GoldMoney account. Money is sent to your bank the same way it’s sent to your Holding: through a wire transfer. Again, there’s an online form that has to be filled out, outlining how much of what currency is to be sent. GoldMoney will send you a PIN by email or phone that you will need in order to send the funds; that number is entered into another online form. An email will confirm that the money is being sent.

Wire transfers are used due to the international nature of GoldMoney, the expediency of such a transfer, and the unparalleled security they provide. Since GoldMoney is extremely aware of the importance of the safety of clients’ funds, and there are few decent alternatives to wiring money, it’s the only way to add funds to a Holding.

GoldMoney Payments – Using Metals as Currency

As discussed in our in-depth GoldMoney review, Gold Money allows their clients the unusual but very convenient option to make online payments with their precious metals. While it may seem unreasonable to use such valuable materials to complete transactions, as little as one-thousandth of a gram can be used. Using your precious metals in this way reduces the amount of time you need to spend handling national currencies, and is a great way to maintain large amounts of wealth in gold, silver, platinum and palladium without worrying too much about the availability of that money.

For an easy-to-use, convenient, and stable way to invest your money, you may want to consider GoldMoney. By taking your money out of unpredictable national currencies and placing it in reliable precious metals, you can remain safe against economic crises that may otherwise sap your wealth. Through both the security of their vaults and their business methods, Gold Money provides a welcoming environment for anyone who wants to manage their investments and even send a GoldMoney payment online.

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Click Here to Create a GoldMoney Account

In this video about the outlook of gold and silver prices, Folker Hellmeyer (chief analyst at Bremer Landesbank) and James Turk of GoldMoney discuss the revaluation of gold as a way of solving the ongoing worldwide debt crisis.

Folker Hellmeyer points out that there’s been a strong accumulation of gold by central banks in emerging markets, and he thinks that the experiment of fiat currencies over the past 40 years is a failure. Hellmeyer brings up the point that we really need to get back to a monetary system that is backed by something real (gold), and he predicts that the prices of precious metals will be much higher in the coming years.

Banks have two major drawbacks: they use national currencies and they often employ fractional reserve banking. National currencies have a habit of fluctuating with the economy, meaning that your investments can lose significant value if the markets dive. In extreme situations, massive inflation can reduce your wealth to a fraction of what it was. In these cases, people may panic and try to withdraw their funds from the bank to get what little use they can from it. This may cause a run on the bank, which is a result of fractional reserve banking. The bank lends out much of the money you invest, meaning it only keeps some of your money available. If lots of people withdraw their funds, there may not be enough to reimburse every client.

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An investment option that can survive in some of the worst economic conditions is gold and other precious metals. These metals may retain their values even when currencies are falling, and can actually increase in worth by a fair amount in these conditions. It makes sense to buy gold, silver, platinum and palladium if you want to protect your wealth against a recession or depression.

Four of these precious metals that people invest in are gold, silver, platinum and palladium. Gold and silver are self-explanatory, and have been used as investments since ancient times. Platinum and its sister element, palladium, are extremely rare, and are very useful in the construction of high technology. Due to the scarcity of these metals, their values are largely guaranteed, particularly when they have so many industrial uses as well.

The trouble with metals are that they’re physical investments. If you buy a bar of silver, it’s a physical chunk of silver that you now have to store somewhere, provide security for, and get insurance on. There’s always the chance that your metals could be stolen, or destroyed by a fire or other catastrophe. If you want to sell it, you’ve got to find some way to get it to your buyer. Basically, the best thing to invest in is also one of the most awkward things to have to have around, and one of the most important to protect.

What is GoldMoney?

GoldMoney will sell you those metals, and they’ll handle the storage, insurance, and security for you. You will still own the metals in a very real sense, and you can even have them delivered to you physically.

However, as discussed in our full GoldMoney review, it’s access to the Gold Money infrastructure that makes investing with them so convenient. If you want to sell some platinum, you can do so online, and GoldMoney will arrange the sale. Moving gold from one vault to another is a fairly simple process as well; again, just use the online application, and your metal will be on its way to another vault in no time at all.

There is even a system in place that allows clients to make online purchases with their precious metals. In this way, they can avoid handling national currencies altogether when making purchases, and they don’t need to withdraw funds from their GoldMoney account, called a Holding, to make use of their investment. This is the realization of the founder James Turk‘s dream, which was to provide a way for clients to secure their wealth in a stable form without losing the ability to use it.

GoldMoney Storage Fees

GoldMoney stores the metals it sells you in the four vaults it operates; which vault or vaults is up to you. These are protected by security companies that provide some of the best services in the world, whether it’s VIA MAT or Q4S. Neither of these companies are cheap, and as such, GoldMoney charges annual storage fees. These fees are based on what kind of metals you have stored, and in what quantity. They can range from 0.15% to 0.99% annually, charged in grams of gold. Storing these metals in a smaller vault on your own is much less likely to provide the level of security that VIA MAT or Q4S provides for GoldMoney.

GoldMoney also needs to provide the appropriate amount of insurance to protect your investments, but since they’re a large company with massive stocks of clients’ precious metals, they can arrange great rates that individual customers very likely couldn’t match. It’s still costly, however, and the storage fees go towards covering those premiums. Similarly, GoldMoney needs to regularly audit its stocks, to ensure that it is providing its customers with metals on a one-to-one basis, where every customer is allotted the amount that he or she has purchased. While it could be less expensive for the company to monitor its own stocks in this way, a higher level of accountability is managed through hiring third-party auditors. These auditing services can also be quite expensive, and contribute to the storage fees.

GoldMoney isn’t just about convenience and providing good prices on precious metals, it’s about protecting its clients’ investments, and the level of security necessary to ensure that their supplies of gold, silver, platinum and palladium are kept safe can be pricey. As a large international company, they can manage favorable GoldMoney storage fees while at the same time dealing with top-tier contractors, and as such have managed to get VIA MAT and Q4S to watch over their, and their clients’, precious metals.

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Click Here to Sign Up for GoldMoney

In this short video, John Embry, Chief Investment Strategist at Sprott Asset Management, discusses silver vs. gold chart analysis with James Turk of GoldMoney.

Embry points out the bearishness of the mainstream media on silver, and predicts that the gold-silver price ratio is likely to move back in favor of silver. James and John also talk about the fact that the purchasing power of precious metals remains fairly constant, a stark contrast to the ever-diminishing purchasing power of fiat currencies.

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In this video, economist and Madrid university professor Juan Ramón Rallo discusses the role of gold as money with Alasdair Macleod of the GoldMoney Foundation.

Among one of the better points stated in the video, Rallo points out that fiat currencies do not lead to equilibrium because they don’t fulfill the basic functions of money. Due to this fact, the free market is always searching for assets that can be used to satisfy this needed function of money. This scenario is exactly what caused both the real estate and stock market bubbles that we’ve seen in recent years, however gold is a different animal altogether due to its scarcity and unique monetary properties.

If you’re interested in a secure, affordable, and convenient way to diversify your holdings and preserve your purchasing power with precious metals, be sure to read our GoldMoney review.

Investment scams and schemes are among the worst of scams imaginable, since they steal away the hopes and dreams that people have worked so hard for. Investment fraud is an awful thing to fall victim to, and avoiding scams should be one of your top priorities when seeking security and financial solidity. It’s well worth checking and double-checking that the businesses you deal with are trustworthy, and haven’t committed any questionable acts in the past. Some companies are just out to take your money, while others are actually dedicated to helping your investments grow, since a healthy relationship between client and business leads to long-term success.

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Reasons to Buy Precious Metals

Depositing money into a bank may leave a client at the mercy of fractional reserve banking, where part of the money invested is used by the bank to give loans and make investments of their own. For clients who are interested in protecting the purchasing power of their wealth, purchasing precious metals may be a better option. Storing such metals can be troublesome, and having physical wealth leaves it vulnerable to theft or loss, but such things are extremely rare when clients rely on good security companies, and insurance against loss can offset any unfortunate events.

The best thing about precious metals is that they may retain their purchasing power despite poor local or international markets. When currencies begin to lose value, metals often become a more reliable way to maintain wealth without being at the mercy of recessions and economic lapses.

There are many companies that offer their customers the ability to purchase precious metals, though sometimes they actually sell certificates which are guaranteed against a certain amount of metal. The best businesses actually transfer ownership of their gold, silver and other metals, meaning that such companies aren’t free to sell them again to somebody else, or lend them out. One company offers its clients the chance to buy actual, physical metals, with records that are real proof of such ownership. That company, GoldMoney, will hold the metals in its vaults, but it won’t use them for its own purposes, since it’s not theirs; it’s their clients’.

About GoldMoney.com

Founded by James Turk, GoldMoney is a precious metal investment business that opened for public use in 2001. Since 2011, it holds more than US$2 billion in precious metals for its customers. It allows customers to buy, store, sell, and trade metals through an easy-to-use online interface, and in some countries, clients can use their stocks of gold, silver, platinum and palladium to make payments.

GoldMoney is headquartered in the British Channel Islands, and has offices around the world. Their major vaults are located in London, Zurich, and Hong Kong. Clients can efficiently transfer their investments between these vaults, and such transfers are protected by excellent security and insurance. The metals stored in vaults are also subject to extensive security, and are insured against loss.

Opening a Gold Money account is free, and can be done very quickly if the registrant is in one of 44 “fast-track” countries. Other places, such as the United States and the United Kingdom, require extensive identity verification through such companies as Equifax. Other nations, including the Netherlands, have restrictive laws concerning precious metals that hinder GoldMoney’s operations and as such, residents of those countries cannot open accounts.

Is GoldMoney a Scam or Fraud?

This company has been running successfully since 2001, and has developed from its simple roots into one of the most trustworthy precious metal holding companies in the world. Its Customer Acceptance Policy helps it prevent criminals from taking advantage of the system, while its partnership with various security and insurance firms keeps its customers’ investments safe.

As discussed in our in-depth GoldMoney review, three of the Gold Money vaults are operated by VIA MAT which is an experienced valuables logistics company that has been around for over 60 years. Their security measures are first-class, and they handle all sorts of precious materials, from gold and platinum to artwork and film. VIA MAT has locations in nine countries, including London, Hong Kong, and Zurich ñ most of the vaults that store metals for GoldMoney’s clients.

The fourth vault is a recent addition to Gold Money’s system, and is run by G4S. They’re an older company than even VIA MAT, and their location in Hong Kong is extremely secure. By using two different firms to protect its clients’ investments, GoldMoney can avoid any serious issues that may result from the disruption of one of these firms, as unlikely as it would be.

Clients actually own the physical metals that they buy, even though GoldMoney stores them in their vaults. If a customer feels that they are better able to store their investments, they may take personal possession of them. While this isn’t the ideal way to make use of GoldMoney’s system, due to the convenience and security they provide, it does show their willingness to accommodate their clients, and proves that the metals clients purchase actually exist.

Lastly, there are safeguards in place to prevent loss of investment should GoldMoney cease to operate. Clients would be able to receive their metals either in their bar forms or as an appropriate value in a number of currencies.

Overall, GoldMoney’s credentials, partners, and level of business prove that it’s not a scam or fraud, but a trustworthy business that consumers can feel confident working with. Indeed, GoldMoney may be even more trustworthy than some mainstream banks, whose business practices oftentimes risk the investments that their clients entrust to them. When it comes to stability, security, and ease of access to investments, there is no GoldMoney scam and it’s a useful way to diversify one’s assets to protect against currency collapse, devaluation, or inflationary periods.

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One of the best ways to invest your money and avoid the pitfalls of currencies is to buy precious metals. First of all, they’re actual physical investments that aren’t simply a record in a computer of money that may or may not exist (as is the case with banks). Owning real physical metals is comforting and provides peace of mind, since it’s very unlikely that they’ll just disappear overnight as may happen if a bank or currency fails. Secondly, metals tend to hold their value and are used often as a store of wealth and a protector of purchasing power. Gold, silver, palladium, and platinum continue to grow in demand due to their rarity, stability, and even their uses in manufacturing jewelry and technology.

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Who is James Turk?

A graduate of George Washington University with a degree in International Economics, James Turk has decades of experience with banking, and even served for years in the United Arab Emirates Commodity Department. He has grown to understand the importance of investing in precious metals through his work, and established his own precious metal trading company, GoldMoney, in 2001.

He has written many essays on the problems with relying on currencies, and has urged investors to consider gold and silver as superior alternatives. His book, The Collapse of the Dollar and How to Profit From It, points out the flaws in the current economic system and how people should defend themselves from economic hardship by investing in hard assets.

By establishing GoldMoney.com, James Turk has offered people one of the best ways to invest in gold and silver, as well as platinum and palladium. By allowing them to own metals in a form that is easy to transfer and sell, he has given them a way to sidestep currency and maintain stable wealth through physical investments.

GoldMoney Review – What Makes Gold Money Better?

As mentioned in our complete GoldMoney review, this company stands out from other investment businesses in that it offers its clients the opportunity to directly own gold, silver, platinum and palladium that it stores for them. By maintaining a secure and efficient infrastructure, it can offer its clients an easy way to transfer metals to other vaults, trade them for other metals, sell them when needed, or even use them as currency to make payments. This level of flexibility and safety is difficult for other banks and investment firms to match, and people who buy gold on their own have to fumble with transportation, insurance, and private sales. In essence, GoldMoney makes precious metal investment easy.

Signing up for a free GoldMoney account is fairly straightforward, and can often be done entirely online. It’s easiest to do if you’re a resident of one of 44 “fast-track” countries, where identity confirmation can take less time. Equifax, a consumer report company, is used in the United States, the United Kingdom, and Canada to check on registrant’s credentials.

Once signed up, clients will receive a “Holding”, which is a record of which metals that client owns, in which vaults, and what value they have. The value updates based on market prices, so you’re always aware of your current investment. Depending on the level of registration you’ve gone through, you may have one of three kinds of Holdings. Those who have not yet had their identities confirmed have Limited Holdings, which have very restricted functionality. Going through the fast-track registration results in a Basic Holding, which allows the client to buy, sell, trade and transfer precious metals. The Full Holding allows all of the functions of GoldMoney to be used, including the use of your metals as currency.

While other banks make their money through both service fees and loaning clients’ money to people, GoldMoney relies on fees. Since they don’t own the metals, but rather hold them for their clients, they have to make profits by charging a percentage-based fee for common activities, such as buying and trading. An annual storage fee is also charged, which goes towards the exemplary security and necessary insurance that GoldMoney uses to protect its clients’ investments.

How GoldMoney Can Protect Your Purchasing Power

James Turk warns that investing in currencies is a dangerous game, and through Gold Money, offers people a safer way to protect their wealth. Not only are the vaults secure and the metals guaranteed against theft, GoldMoney.com makes it easier than ever to manage your precious metal holdings. While other investments may fail due to weak industry or poor commercial performance, gold, silver, platinum and palladium tend to maintain their relative values.

GoldMoney isn’t just for purchasing and storing metals. It’s notable in the access it gives its clients to their investments by making it effortless to buy, sell, trade and transfer their metals, and even provides a way for them to use their investments as money. GoldMoney is one of the best ways to buy and sell gold and silver since it’s so easy to use and has such a flexible, well thought out system. There’s no fumbling about with self-storage, while sales and purchases aren’t struggles as they would be with personally managing your metals alone. For a great way to invest in a stable and safe future, check out precious metals, and one of the best ways to manage those metals is through Jim Turk and GoldMoney.

Click Here to Sign Up for GoldMoney Today

Precious metals are a popular investment since they are backed by something of real value. No matter how worthless fiat currencies become, gold, silver, and other rare metals can preserve one’s wealth and purchasing power. For those looking to protect their money, there are few options quite as appealing as precious metals.

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GoldMoney Review – What is Gold Money?

GoldMoney, a company started by James Turk, is based out of the British Channel Islands that provides an easy, secure, and efficient way to buy, store, and manage precious metals. They sell their clients gold, silver, platinum, and palladium, and store these metals in secure and insured vaults around the world. Customers actually own the physical metals that they buy through GoldMoney.com, and can take possession of their investments at any time.

There’s a difference between buying gold yourself and through Gold Money. While it can be less expensive to buy the metal outright and store it yourself, this can create issues when it comes to security, transport, insurance, and sometimes, legality. GoldMoney will handle your metals professionally, and they offer a high level of protection for your investment by hiring excellent security companies and and only work with trusted insurance firms. Furthermore, you can store your metals in any of the four vaults they operate, meaning that you can spread your wealth around to prevent loss from a single catastrophe. GoldMoney vaults are located in the UK, Switzerland, and Hong Kong, and the frequency with which Gold Money transfers metals between them means that it’s effortless to switch your investments from one to the other.

There’s even a way to make payments through this system, using your reserves of metals as funds. It’s an effective way to complete international transactions, especially since metals usually trade favorably to currencies.

So, why not use a bank like so many other people? The common practice for banks is fractional reserve banking, where parts of your investments are loaned out by the bank. The bank makes money from the interest on these loans, and may give you a tiny percentage of that profit. The danger lies in the loans, since your money is not represented dollar-for-dollar in the bank. If many customers were to withdraw their entire investments at once, the bank may not be able to return all of their money.

GoldMoney avoids this problem by storing all of your metals and not using them itself. It makes its money from fees placed on common activities, such as buying metals, and on annual storage. Given that many other banks and businesses also charge service fees, this shouldn’t be an issue for most customers.

A Review of the Gold Money Registration Process

Signing up with GoldMoney is free, and can take a surprisingly short time. Depending on the location of the new registrant, the process can be done entirely online. Residents of many nations, including the UK, the US, much of Europe and Asia, can open GoldMoney accounts, though some countries, such as the Netherlands, prevent Gold Money from operating due to their restrictions on precious metal trading and storage. Forty-four nations allow “fast-track” registrations, which are quick and easy, made possible through the laws and regulations of those countries.

By opening an account, you’ll get a “Holding”, or record of investment, that will represent the actual, physical metals that you have stored in GoldMoney’s vaults. It is easily accessible online, and tells you the current value of your investments. Through the Holding page, you may trade, sell, buy, and transfer your metals.

GoldMoney.com Customer Acceptance Policy

There’s a system that GoldMoney uses to ensure that its clients are involved in legal business and aren’t fraudulent or otherwise undesirable as customers. This is the most important part of registration, since it ensures that you are who you claim to be, and that you aren’t going to threaten GoldMoney’s respectability or the legitimacy of its operations. For the average client, this should be comforting, since it prevents criminals, thieves, and terrorists from storing large quantities of metals next to yours.

While your confirmation is pending, you will have a “Limited Holding” that doesn’t allow the customer to do much at all. Only people living in the fast-track countries can get a Basic Holding, which allows the customer to purchase and sell metals. A Full Holding allows a client to make full use of GoldMoney’s system, including the ability to make payments, but it requires complete and thorough proof of residence and identification.

In the United States, the United Kingdom, and Canada, clients can go through the verification process using Equifax, which is a highly respected and very old business that provides reports on the credit ratings of consumers.

Even in the nations that don’t allow fast-track registrations, opening a Holding isn’t terribly difficult or time-consuming. The system is designed to be both secure and easy to use, making it easy for legitimate clients to start making investments in the four metals GoldMoney offers across the four vaults they operate.

Transferring one’s wealth from fiat currency into stable metals is a great move for those who want security and the comfort of knowing that their money is physically represented and not being used by a bank for its own purposes. For those who are considering this path, we sincerely hope that our GoldMoney review has given you an option for doing just that.

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