I noticed that Casey has recently begun to suggest keeping your gold coins abroad. Thoughts?
oreville
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He has begun to suggest that keeping them in safe deposit boxes in foreign may be safer than in the US.
Is is safe to store coins in a foreign country? Don't you have to be a resident of that foreign country?
Is Canada safe?
Your thoughts?
Is is safe to store coins in a foreign country? Don't you have to be a resident of that foreign country?
Is Canada safe?
Your thoughts?
A Collectors Universe poster since 1997!
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Comments
<< <i>He has begun to suggest that keeping them in safe deposit boxes in foreign may be safer than in the US.
Is is safe to store coins in a foreign country? Don't you have to be a resident of that foreign country?
Is Canada safe?
Your thoughts? >>
What is the reason for keeping them in a foreign box? I do not collect gold, but I have never heard of anyone being scared of storing anything in safe boxes in the US.
--Severian the Lame
keeping a Crib outside the U.S. as well as some financial assets.
As many of you already know U.S government policy is rapidly shifting to set up controls
to ensure that they get their hands on taxable assets of Americans outside of the U.S.
In one of his most recent newsletters he claims that two ways of protecting outside assets
is owning foreign real estate and to have some (not all) gold bullion outside of the country.
Both of these methods fall under the radar.
I would think that if you have family/friends in another country that could recommend
a safe haven would be prudent.
I would seal them in an air tight container and bury them in the yard before I would
trust a foreign country with my gold... That's if I had any gold to bury....
It's a stupid idea. Most Americans don't even have a passport. Who is to say, in a gloom and doom I need gold scenario, it will even be possible to travel overseas? Do you really want to have some or all of your gold sitting safe overseas where you can't reach it?
I don't spend much time worrying about the Feds. I do think SDB's have their limitations. You don't really need a local SDB to have easy access to financial assets. It's not as if PM's or a decent size currency stash are all that difficult to hide. If you want to do the foreign thing you should move there now and take your gold with you. It's easy to extrapolate many parts of the world will be much safer than the USA in any future worst case situation.
roadrunner
If the current (or future) administration can't honor it's financial obligations and decides to default on the currency by issuing a new currency and imposing strict controls on all financial assets, it only makes sense that your exposure to US Dollars be limited and that you maintain access to your under-the-radar assets, however that is done.
Casey is advocating a strategy of keeping some assets in one country, your citizenship in another, and your body in a third country. In my opinion, that seriously dilutes your ability to respond to a changing situation. As roadrunner notes, for a world traveller like Doug Casey it might make sense because he travels all the time.
It can't be discounted that Casey probably does have a better overall view of what's happening in the world than most Americans, so it's worth noting what he says, even if you can't duplicate his approach.
I knew it would happen.
Another alternative might be to drive for hours in Western North Dakota, to a spot near an identifiable landmark and start digging.
I knew it would happen.
(x2,Meltdown),cajun,Swampboy,SeaEagleCoins,InYHWHWeTrust, bstat1020,Spooly,timrutnat,oilstates200, vpr, guitarwes,
mariner67, and Mikes coins
Of all the alternatives available, something like this appeals to my distrusting of institutions side the most.
I imagine that the power elite/rule makers are looking to close this window. Maybe it's a matter of coming up with the proper spin.
On one hand they want to promote the illusion that gold is not money. On the other, how do they call it money for custom purposes?
<< <i>Would you be flying to your SDB often? This doesn't make much sense...
I would seal them in an air tight container and bury them in the yard before I would
trust a foreign country with my gold... That's if I had any gold to bury....
Worry is the interest you pay on a debt you may not owe.
"Paper money eventually returns to its intrinsic value---zero."----Voltaire
"Everything you say should be true, but not everything true should be said."----Voltaire
Worry is the interest you pay on a debt you may not owe.
"Paper money eventually returns to its intrinsic value---zero."----Voltaire
"Everything you say should be true, but not everything true should be said."----Voltaire
A government can legislate for banking insurance, but cannot even insure itself without the help of the IMF and the EU.
<< <i>Having assets abroad may be a good way of "diversifying" against the U.S. dollar. But I don't think having a SDB abroad is all that smart unless you're talking Switzerland. Many other countries have much weaker banking systems and less sense of private property than we do. >>
Oh really? Have a look here:
Switzerland Agrees to USA Tax Deal
They have been pressured for years by the US government, now they cave finally.
<< <i> Oh really? Have a look here:
Switzerland Agrees to USA Tax Deal >>
The point of the tax agreement is to find assets on deposit or being managed by the banks for US investors... that's very different from a SDB. I doubt there is anything in there requiring the Swiss to tell the US gov't what's in the SDB. (Nor does US law requires banks to tell the gov't what's in your SDB).
<< <i>
<< <i> Oh really? Have a look here:
Switzerland Agrees to USA Tax Deal >>
The point of the tax agreement is to find assets on deposit or being managed by the banks for US investors... that's very different from a SDB. I doubt there is anything in there requiring the Swiss to tell the US gov't what's in the SDB. (Nor does US law requires banks to tell the gov't what's in your SDB). >>
But you can hide from the trend that is going there, that will be next.
<< <i> But you can hide from the trend that is going there, that will be next. >>
I'm nervous about the same thing... both here AND abroad.
1. As a commodity investment play to be traded.
2. To be held as a store of wealth and a bridge to the "other side".
If #1 is what you have in mind, big mistake. As a store of wealth? It's better to keep it near with a watchful eye.
<< <i>There are two reasons to own gold.
1. As a commodity investment play to be traded.
2. To be held as a store of wealth and a bridge to the "other side".
If #1 is what you have in mind, big mistake. As a store of wealth? It's better to keep it near with a watchful eye. >>
Worry is the interest you pay on a debt you may not owe.
"Paper money eventually returns to its intrinsic value---zero."----Voltaire
"Everything you say should be true, but not everything true should be said."----Voltaire
> (Nor does US law requires banks to tell the gov't what's in your SDB)
As I understand it, if you're known to have died then your SDB access is restricted and your family can only get into it in the presence of bank officials. Anything of value is reported to the state and feds for purposes of estate taxation. This has always seemed to me a major argument against the SBD. Please correct me if I'm wrong.
Miles
> yet if your family or friends that you have entrusted with a spare key with know of your demise then they can move QUICKLY to empty the box
Thanks. Been there. Done that. We didn't have anything of much value but I still didn't want the hassle. I was lucky my access had been set up years previous. Maybe different states have differing regs on this? I still see it as a major drawback to the supposed SBD safety factor.
<< <i>I can get a SDB here in banks in Ukraine, problem is, bank goes under, and some have recently with the financial crisis, you lose everything, including the contents of your SDB. >>
I find it a little hard to believe that when a bank goes under, they can loot the SDB's and keep the contents. Who in their right mind would ever rent a SDB under those circumstances?
Worry is the interest you pay on a debt you may not owe.
"Paper money eventually returns to its intrinsic value---zero."----Voltaire
"Everything you say should be true, but not everything true should be said."----Voltaire
<< <i>> (Nor does US law requires banks to tell the gov't what's in your SDB)
As I understand it, if you're known to have died then your SDB access is restricted and your family can only get into it in the presence of bank officials. Anything of value is reported to the state and feds for purposes of estate taxation. This has always seemed to me a major argument against the SBD. Please correct me if I'm wrong. >>
Not if another person's name is on the box. I know that for a fact, I have had my grandparents pass away years ago and because my name was on the SDB account, I could access it without the Feds etc. It is a different story if your name is NOT on the box, or if you have a will only and no box access.
gold, my silver, my coins.....
But they will never take my shorts.
Camelot
as the original owner would heve preferred; so yes, having two trusted names on the account is vital.
Otherwise, all bets (and hopes) for security are tenous. Regardless of "regs".....
Miles
<< <i>The Government can take my
gold, my silver, my coins.....
But they will never take my shorts.
If they did, you'd be a bare bear.
Worry is the interest you pay on a debt you may not owe.
"Paper money eventually returns to its intrinsic value---zero."----Voltaire
"Everything you say should be true, but not everything true should be said."----Voltaire