RE: Scary, read thisThis is why if you buy bullion you take physical possession
Don't buy ETF's or trust someone else to hold your gold
Buy from reputable sellers, like banks (Canadian banks) and take delivery
Hold the gold yourself in a safety deposit box or your own safe
Heck! bury it in your own backyard if you want, but don't let the neighbours see you do it
It's safer than having these holding companies keep it for you
This will happen again, a lot of these gold sellers will have resold the same gold over and over and not have enough in stock.
They figure no one will take possession and if they do, what are the chances of everyone wanting to at the same time
You have been warned
When they get audited and they find out the coffers are next to empty, watch what that will do to the pog
GLA holders