What stops BullionVault itself removing my gold?
Someone has to have authority to instruct Via Mat on what to do with your gold, and BullionVault’s management has that authority. So you should be rightfully concerned that controls exist to prevent a dishonest BullionVault manager from authorising a removal of gold from the vault. There are careful controls on this which you will quickly see eliminate the possibility. There are two set of controls – Public and Private. Public controls exist to make the process of bullion withdrawal extremely transparent. This is how it works. • BullionVault must give 2 days notice of a bullion withdrawal to Via Mat and publish conspicuously on the BullionVault website’s front page that a withdrawal is occurring. This publication will state the withdrawing user’s alias. Now every BullionVault user can see that the gold being withdrawn is not theirs, and anyone who wants to check can also see – via the Daily Audit – that the withdrawer owns sufficient gold to make the withdrawal. • Via Mat checks these
