Karatbars International's Vaults for Gold Storage
From the Desk of Cherylanne Gober:
“We use a 4 eyed principle with our gold ... Every Time one person touches it , there has to be 4 sets of eyes signing off on it. One of those sets of eyes is video surveillance.
We have our own vault within the Karatbar’s home office. It meets and exceeds all government requirements for vaulting gold and security. The vaults are insured for over 4 million euro. This is where we store the small gold bars... (1 - 2.5 and 5 gram)
Harald at one time was (and still does) using several private and recognized vaulting facilities to store large bars. These large bars are the companies and are allocated to Harald. When we need to provide more small gram weights they remove a large bar and smelt it down to the smaller weights and place it in Karatbar’s vault. Karatbars will not provide the information publicly where the large gold bars are stored and in what vault. Due to security we only supply this information to the German government.
The German government can audit the gold reserves in the company at will and designate a 3rd party auditing company to come in and audit all gold storage. We have had this done as often as twice in one year. We always pass our audit with a clear record due to the fact we always keep excess gold in our storage vault than what our customer storage holdings are.
If we ever fail an audit, you can bet it will be on the news... The government of Germany would see to it.”
TAGS: gold vault, German government, Karatbars, 4 eye principle, large gold bars
“The postings on this site are my personal opinions and do not represent the positions, strategies and opinions of Karatbars International GmbH.”