I am in the process of converting part of my retirement account into a Precious Metals IRA and this makes me worry that the gold inside of it may be confiscated by the US Gov.
1. Are my concerns justified?
2. Should I just fill it with silver and platinum to avoid this?
3. Can you please comment on these [loaded] questions?
If I may add, a friend of mine who knows of my goldbug interests (only phys, mostly coins, 50% yellow and 50%grey), once told me that I have financially positioned myself to be only profitable in a situation of crysis: from 80% to 95% messy.
The nearer to that 95%, the better for my investments. From 95% on... well, who cares, we are in lead zone.
What is the advantage of having a ‘custodian’ of your shinny? All reasons have the same answer- if you don’t hold it you don’t own it. Good and silver are money everything else is debt
How do we spell mid management at a cultural level- the only serious pushback was Ron Paul. It’s like being on a bus that’s driven buy a cokehead-MOAR when they catch on.
Seizing Russian assets will be judged by history as THE geopolitical mistake of the last 50+ years. That one action jump-started the BRICS+ to start taking real actions to protect themselves. The $USD is not going away anytime soon, but its use in trade will continue to shrink as more cross currency trade is done away from the $USD AND the weaponized SWIFT system.
FWIW, I recall a few years ago Jim Rickards asserting more than once that Ft. Knox really has the gold, and more importantly reminding that the US gov can opt to dishonor paper deeds on the gold there.
The US gov truly understands that paper gold is not gold
Damn scary.. As far as You read it in novels is something maybe even amusing, but reading it here is something very different... all different level.
So.. we (westerners) are all in other guys hands... extend and pretend... till is possible.
A silly question to older guys like myself: how and why have we allowed to bury ourself so deep in the last 40 years? Complacency? Hubris? Only neocons/ziocons/the ones who cannot be named at evil work or what???
If I remember correctly, Bill's time, for all the bad he have (not a typo!, he and his despicable wife) done, were times of fiscal balance, so, why causing this? No insights? Why have all of us allowed the globalists to rise, ride and cause this???
Hope Don's new team can disrupt them at their roots, a few Leavenworth fire squads would do magic for the good ones moral...
I am in the process of converting part of my retirement account into a Precious Metals IRA and this makes me worry that the gold inside of it may be confiscated by the US Gov.
1. Are my concerns justified?
2. Should I just fill it with silver and platinum to avoid this?
3. Can you please comment on these [loaded] questions?
1- yes. But the confiscation risk is minuscule.
The problem is if they do it.. it is also because you need it most.
More likely. They have ways of throttling access and changing tax rates upon exit. The alternative is to do something illegal but not unethical.
2- if it were me? NO. The key to putting metals in an Ira is always EXIT liquidity. Even removing all other risks…
You will not find a buyer for platinum in a jam. Silver you can but it’s gotta be well respected form… and it takes up too much space
3- yes..
;)
If I may add, a friend of mine who knows of my goldbug interests (only phys, mostly coins, 50% yellow and 50%grey), once told me that I have financially positioned myself to be only profitable in a situation of crysis: from 80% to 95% messy.
The nearer to that 95%, the better for my investments. From 95% on... well, who cares, we are in lead zone.
Very helpful. Thank you!
Derrek
What is the advantage of having a ‘custodian’ of your shinny? All reasons have the same answer- if you don’t hold it you don’t own it. Good and silver are money everything else is debt
The SCOTUS ruled that metal in a tax deferred retirement account must be held by an IRS-approved custodian.
Right. And that is the problem.
They have the option .
And even if they do not ever confiscate.
Assume they won’t confiscate if you must.
The more likely risk is.. the custodian goes under and perhaps you don’t get the gold.. you get some money.. and it won’t be enough.
If you throw in the fountain of youth we can make a deal
Wish I could... :)
Full faith and trust in the government-
I have a couple bridges and Trevi's fountain to sell You Sir... :)
I hear you on that act. It’s all good
How do we spell mid management at a cultural level- the only serious pushback was Ron Paul. It’s like being on a bus that’s driven buy a cokehead-MOAR when they catch on.
Seizing Russian assets will be judged by history as THE geopolitical mistake of the last 50+ years. That one action jump-started the BRICS+ to start taking real actions to protect themselves. The $USD is not going away anytime soon, but its use in trade will continue to shrink as more cross currency trade is done away from the $USD AND the weaponized SWIFT system.
FWIW, I recall a few years ago Jim Rickards asserting more than once that Ft. Knox really has the gold, and more importantly reminding that the US gov can opt to dishonor paper deeds on the gold there.
The US gov truly understands that paper gold is not gold
Damn scary.. As far as You read it in novels is something maybe even amusing, but reading it here is something very different... all different level.
So.. we (westerners) are all in other guys hands... extend and pretend... till is possible.
A silly question to older guys like myself: how and why have we allowed to bury ourself so deep in the last 40 years? Complacency? Hubris? Only neocons/ziocons/the ones who cannot be named at evil work or what???
If I remember correctly, Bill's time, for all the bad he have (not a typo!, he and his despicable wife) done, were times of fiscal balance, so, why causing this? No insights? Why have all of us allowed the globalists to rise, ride and cause this???
Hope Don's new team can disrupt them at their roots, a few Leavenworth fire squads would do magic for the good ones moral...
IMO the problem is that the US won the Cold War and so had no rivals to keep it in check.
So we have now.
Mismanagement started under Reagan, every subsequent leader was worse
It's only me connecting Reagan's CIA=Wall Street VP, Bill and the Mena/cocaine airport?
Assuming that's true... what that mountain of money had to be needed to achieve?
Beautifully written. I can not tell you how much i am greatful that I resubscribed to goldfix. Thank you Vince!
Fyi, maneco64 commented on your article, "Nothing but moths..."
https://www.youtube.com/live/_jWztd1OAMw?t=915