Gold News: Gold Stolen From Brinks Security

Today’s gold news is something you don’t see every day.  Yesterday Brinks Company – aka Brinks Security – told the world that about $13 million in gold was stolen from them on Dec. 6th.

The customer involved has been reimbursed, “immediately,” as noted by the company. No few additional details have been released. No indication of where or how has been publicly acknowledged.  If the valuation is correct, this would be the 12th largest gold heist in recorded history – here’s an infographic with the biggest heists so far. Despite the loss, Brinks still expects to post positive results for 2017 Q4 and for 2017 overall, somewhere in the neighborhood of $280 million in profits.

Cryptocurrency advocates are already pointing out the advantages of using modern tech to avoid having to move precious metals; they may be on to something there. But possibly not the way they think. You don’t need a cryptocurrency intermediary if the gold itself is tracked with blockchain tech.  Here are all the details Brinks has released. What do you think – could this have been avoided with blockchain tech?  

Is it better to move heavy metal around, or should it all be kept in one big pile, tracked by binary bits of data?  Sound off in the Comments below!

 Related: Do Miners Trade Differently Than Gold? Here’s What You Should Know

About the author

Mike Hammer

Mike Hammer has had a wide-ranging career, with trading and investing as a continuing theme. Mike graduated from UC Berkeley with a business degree, then worked with Macy's in their operations arm. He left Macy's and spent a summer trading his own account, which taught him a lot about trading in general and markets in particular. Trading through the Black Monday and the Crash of 1987 showed him how most people are unprepared for upheavals in their trading. He then joined Waddell & Reed as a financial advisor, helping regular people understand their finances and meet their life goals.

Then came the usual story - Mike met and married the lady of his dreams. They moved to upstate New York, where Mike worked first for a small manufacturing consulting company, then Cornell University. While loving the work and the higher-education atmosphere, Mike missed the world of finance. Eventually, he signed up for stock trading coaching with the Adam Mesh Trading Group, to learn from people who understood modern markets. Within a year, Adam asked Mike to become a stock trading coach.

Since then, Mike has trained over 200 individuals, spoke at several national conventions, and is a frequent contributor to conference calls across the Adam Mesh community. Mike writes The Gold Enthusiast daily newsletter, runs the Golden Hammer trading service, and participates in the Mesh Private Portfolio. He also keeps a position in international education which keep him in touch with "the student mindset". Mike closely follows the gold, energy, and financial sectors. His motto is "Plan your trade, then trade your plan!"

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  • Will gold ownership increase daily, or crypto, or cards or what will we use to exist or trade for services? Will there be a gold dollar bill? or does anyone know for sure what the future of money is for US?