How Safe is your Gold?” – BullionStar CEO’s speech at FreedomFest
The first full day of the FreedomFest conference took place 14 July in Las Vegas, USA, an event at which BullionStar is attending and exhibiting. Conference proceedings took the form of general speaker and panel sessions in a large auditorium in the morning, and multiple breakout sessions of speakers and panel discussions in the afternoon. Morning events included the well-attended “The Big Bull vs Bear Debate”, a panel session of well-known investment commentators such as Alexander Green and Peter Schiff. Lunchtime speeches included a keynote speech by former supreme court judge and constitutional expert Andrew Napolitano who discussed the topic ‘Do We still have a Constitution?”.
How Safe is Your Gold?
In an afternoon speakers session, BullionStar CEO Torgny Persson presented on and discussed the topic ‘How Safe is Your Gold?”.
In his presentation, the BullionStar CEO gave the audience an insightful introduction into how the current global monetary system is based on the fraudulent concept of central banks monetizing debt and debasing currencies, and how commercial banks dilute money supply even more than central banks by creating money out of thin air via their lending practices. Mr Persson highlighted how a fully gold backed US Dollar would require a gold price multiple times higher than the current trading price, and the exorbitant privilege that the US Dollar, for now, retains as global reserve currency. He then illustrated and discussed the purposes and characteristics of money, and the degree to which fiat paper currency and gold fulfill these characteristics.
The discussion then focused on how Singapore is the world’s safest place in which to store bullion, due to a number of factors such as the Singaporean government’s support for the bullion industry, the economic and political stability of the city-state, and the near zero crime rate. Further advantages of storing precious metals in Singapore include the lack of sales and other taxes, the fact that there are no reporting requirements to report bullion transactions or holdings to any authorities either in Singapore or worldwide.
The discussion wrapped up with a Q & A from the audience covering topics such as how to transfer in existing bullion holdings from the US to Singapore, generational wealth transfers of bullion holdings, how Singapore would fare off if the US Dollar collapsed, and storage costs of gold and silver using BullionStar’s vault storage services.
BullionStar’s stand in the exhibition area of FreedomFest near the entrance to the conference auditoriums proved popular with attendees throughout the day, especially in the breaks between speaker and panel debate sessions. BullionStar staff manned the booth, fielding questions on a wide spectrum of bullion and bullion storage related topics from a diverse selection of attendees. BullionStar’s decision that all staff members would wear tailored gold suits (see below) proved a popular talking point among attendees. During some downtime we got to chat with fellow exhibitors and media exhibitors in the hall such as Kitco’s Daniela Cambone and GoldMoney’s Josh Crumb.
The FreedomFest conference continues on 15 July with its 2nd full day or speakers and presentations. Check back at the Inside BullionStar blog for further updates.