This is a special edition of Macrovoises with hedge fund manager Eric Townsend.

The premier financial podcast targeting professional finance, high net worth individuals, family

offices, and other sophisticated investors.

Now for this special edition of Macrovoises, here's hedge fund manager Eric Townsend.

Macrovoises Spotlight Episode number two was pre-recorded to air on September 13th, 2019.

I'm Eric Townsend. Our topic in this episode is private vaulting of precious metals.

My guest is Bob Coleman, founder of Profits Plus precious metals and Idaho Armored Vaults.

Bob has a fascinating personal backstory. He was a high net worth individual investor,

who became convinced by the very popular argument,

favoring physical ownership of precious metals for the sake of having assets completely outside the financial system.

When Bob set out on his own due diligence mission to find a private facility to store his own golden silver holdings,

he discovered that virtually all such services are owned and operated by precious metals dealers or banks.

Bob concluded that this posed a serious conflict of interest, because after all,

if the whole idea is to hold safe haven assets outside the mainstream financial system,

then keeping them vaulted with a company that is part of that system and is likely to fail in the event of a systemic crisis

hardly makes any sense at all.

After being unable to find any secure storage facility that met his own standards of independence

from the commercial banking system, Bob set out several years ago to create one.

Today, Bob believes that his facility, with just over $220 million of privately owned assets and storage,

is the biggest, completely independent private vaulting service in operation anywhere.

There are certainly plenty of larger competitors, but they're all owned by banks,

precious metals dealers, mints, and other parties Bob perceived as having a conflict of interest

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