If I owned gold, I wouldn’t store it at a bank. The point would be to have something in a crisis, and the last place I want to go in a crisis is to a bank where the bad guys know the money is.
Some folks have forgotten that the U.S. once confiscated all gold... and could easily do it again with someone like Obama in the White House.
Lead is much cheaper......
I would pose the question to Mr. Faber, though; how is someone supposed to retrieve their gold from a safe deposit box at a bank in Singapore during an economic emergency? Does he suppose one would just hop on a plane half way around the world, retreive their asset, and then jet back to the US and carry their gold back through Customs?
And what good would it do if it were sitting in a Swiss safe deposit box? How would one exchange it for anything?