Singapore is a Very Safe Place to Store Gold & Silver Bullion
There are many reasons that Singapore has the reputation for being 1 of the safest places to store Gold and Silver Bullion.
The small country has low taxes and a stable economy, having had budget surpluses in the last 25 years for all but 2 years. The country’s wealth was/is built on innovation and attracting foreign companies.
Similar to Switzerland, it’s a Neutral country with no enemies.
Citizens of Singapore have a mandatory military service of 2 years, where each man must train for 2 weeks per year until he reaches 40 anni, which gives them 950,000 troops they can call on at any given time.
They also have a large armaments industry, and bases around the world.
Silver Bullion SG is a P2P in Singapore and exists outside of the official financial system. The company allows people to lend money against Gold and Silver that the borrower owns, and is held at Silver Bullion’s storage facility in Singapore. It is a very a safe way to lend money as the borrowers are required to have Bullion stored that is at least 2X as much as they borrow.
Mr. Gregersen thinks Silver will do very well in the near future as the Silver Institute’s calculations of a 130-M oz deficit in Silver in Y 2015, and since Silver production is decreasing the deficit should be even greater this year.
Silver is money and is used in many industrial products and not easy to substitute. Even if the price of Silver goes way up, the industries still need to buy it. Because of this, the demand is largely inelastic.
Silver Bullion SG and Safe House Depository, a premium Bullion dealer and storage facility in Singapore.
Have a terrific week.