National Gold Bankruptcy

[mrearlygold]

Anyone get a surprise letter via certified mail from a lawfirm in Miami ?

 

I have not said a word about this since this fiasco started. I'm about to change that position

[PerryHall]

What's in the letter? Any new information?

[michael]

 

hmmmmmmmmmmmmmmm

 

let me guess

 

0% on the dollar to non-secured creditors

 

 

[johnny9434]

hmmmmmmmmmmmmmmm

 

let me guess

 

0% on the dollar to non-secured creditors

 

 

its a pisser but thats the way it goes

[James_OldeTowne]

edited to say: nevermind

[michael]

or even worse they make people pay money back that they got paid for because it is some sort of window that the law says the trustee can do

 

not fair but the law is usually never fair to the honest party

[World Colonial]

I presume this was one of those arrangements where the buyer had a paper claim to the metal and never took physical posession. Then the firm went bankrupt and never had the metal to deliver and possibly it was also a fraud.

 

When buying metals, always take psysical delivery and store it yourself or at a reputable third party secure facility..