As I mentioned in my previous post, there are two ways. The other is holding precious metals in an offshore vault. Gold has historically been a consistent use of money and will continue to be used that way long after we are gone.
Paper money no longer has any value and is only guaranteed by the faith of the issuing government. Who has any faith in government these days? Gold has been used as money for thousands of years. But right now the US government doesn’t consider gold to be money. It is only a ‘trinket’, like your collection of stuffed deer heads or your GI Joe action figure collection.
That is good for us as there are no controls placed on gold. At least not yet. But now you can still get a safe deposit box in a bank outside of the US to hold your gold coins or bullion. You can also purchase gold certificates from the Perth Mint.
Considering the financial chaos we now seem to live in, you should all be hedging your investments with gold. This should be a key part of your asset protection strategy. I am not saying sell everything and buy gold coins, but you should allocate some amount of your assets to gold. There are many options like buying stock in gold miners or the ETF, GLD.
But if all hell breaks loose, it will be tough to buy bread and gasoline with Yamana Gold stock certificates. Now is the time to think about protecting your assets for you and your family’s future. Keep in mind in 1933 Roosevelt confiscated all citizen owned gold in the US and a few months later devalued the dollar by 60%. Using gold as a hedge and holding outside of the reach of the Fed is a smart strategy.