Home » Investing » What If Your Broker Goes Bust?
  • Frank

    Well, my broker is E.F. Hutton, and E.F. Hutton says: “BUY GOLD”! (the metal, not the paper). SILVER is even better.

  • bob

    I always stop reading when I see, “What if I were to tell you that for the cost of …….you could purchase…..”

  • Rachael

    I’m happy to finally see the ‘investor’ class getting screwed like the rest of the poor, almost poor, and working classes of this country have been for the last 40 years. With the exception of public union terrorists, unbridled debt-based fiat has not been the average person’s friend. Hopefully now with the folks at the top of the pyramid dazed and confused as to why their efforts to secure the Federal Reserve’s Notes are starting to fail, they will quit buying elections, step out of the way, and let the people organically (no tea or other manufactured parties need apply) demand real change and revision to the mean.

  • http://billhopen.com billhopen

    insurance is only as good as the counterparty risk, When TSHTF your insurer may go down, and you will hold a paper promise of a dead ins corp, Listen, soverign nations are going down…. the USA, the FED,are insolvent, can only print more paper to “pay” debts. hold a bag of coin in a vault as your core savings, play the market with say 25% of your capitol, understand its a gamble and may vaporize… try the insurance too but don’t DEPEND on it. As you trade, take profits out and solidify them in to tangebles and PMs and gamble on holding a few USD’s too, they may rise and allow you to buy up assets on fire sale. don’t trust digital entry accounts with all your wealth holdings— “hold” your holdings physically.

  • Chasman

    If one considers that the above scenario were too occur, it is likely there would be a complete collapse in the global financial system. With the level of derivatives built into the system, I can not imagine that if two major brokerages go under that they all wouldn’t go under. To claim that any identity could somehow insure your investments in this scenario is extremely unlikely.

    I believe we were extremely close to this point with the peak of the financial crisis of 2008. It was only when the US government came in to back all money market, back deposits, etc that this collapse was averted. Governments and the central backs will do everything in their power to not let this happen. If government were to lose control of this situation, it will go into a chain reaction, and things will get real ugly real fast. Priorities in this case will likely be food, shelter, and protection. I would also expect a visit by the gov. to demand any physical gold!

    • http://realestaterecord.blogspot.com/ Tyrone

      I would also expect a visit by the gov. to demand any physical gold!

      Demand it for what purpose? Are you anticipating a massive revaluation?
      The percent held by the masses is small compared to the 8000+ tons already in their stockpile, assuming they didn’t loan it out or sell it.

[Most Recent Quotes from www.kitco.com] [Most Recent USD from www.kitco.com] [Most Recent Quotes from www.kitco.com]