Posted on 03/19/2013 4:13:06 PM PDT by freedumb2003
I really want advice from FReepers who have invested in Gold and other precious metals.
The Cyprus thing got me nervous. The idea that a country could say "we will immediately do a Wealth Tax" was out of my realm of thinking.
But the fact this happened with the OK of the IMF (of which the USA is the largest influence) is what scares me.
Now Brussels in on that same road of pure State theft.
And let's face it, any country stupid enough to tax people for existing (aka obamacare) will be arrogant enough to levy an overnight "wealth tax."
Kartographer, I owe you an apology. I don't see an apocalyptic "Mad Max" SHTF future. But for the first time I see that the institutions and so-called "rules of law" are of little meaning.
I think my qualifications as an honest and thoughtful FReeper are here.
I need to secure about $250K (please, no post office boxes nor Nigerian Lawyer addresses).
How best to buy real gold? And ensure its real delivery?
(Excerpt) Read more at telegraph.co.uk ...
Coin shop.
You have been more right than wrong.
Until now I have appreciated your Prepper threads as good Disaster planning only (and did some teasing).
But now they will be coming after our bank accounts.
I don’t see Mad Max, but I do see the Government coming after our property.
I was wrong, K. I was wrong.
has anyone here ever out an ad in the paper for buying old gold or jewelry? I mean you are on your own as far as determining value, but I think it would be a way to get things at less than market value
I buy gold from california numismatic
Coins from around ,the world at todays gold price.
I buy american gold eagles
Works just fine
don’t put all your eggs in one basket. put maybe 15-20% of your eggs in this basket. Krugerands are better than sovereigns. Gold eagles are slightly better than sovereigns to some people. 10 silver eagles are probably better than a single 10 ounce bullion bars. Be aware of the tax policy of your state before you buy. Here in Ohio, we pay state sales taxes on metal purchases. If I drive over to Michigan, I don’t. That can really affect the value of your investment. Prices seem pretty low right now because the market is looking good. They could go lower. Then again, something crazy could happen and metals could skyrocket. Bottom line, don’t get into metals thinking you can get out in 6 months having made a huge profit. That could happen but chances are it won’t. get into metals for the long term and think of it as an insurance policy against disaster and inflation. anticipate fluctuations. The government’federal reserve is very much anti-metals btw.
>>I buy gold from california numismatic<<
You hold it personally?
I am thinking bullion, but that is interesting...
You don’t know how much I wished I was wrong. I have tears in my eyes and heart for my grandchildren who have a good chance of never knowing the America we grew up in.
Someone on another thread admonished me telling me that such raiding of bank accounts would never happen here. My reply was that it was said that mandatory health insurance would never happen here.
Your gold bought from them is placed in your hands (if you want to leave with it) - and or they will insure it and place it in their own vaults with your name on it.
Best to buy highly collectable US gold coins only, with an additional high numismatical value. Don't buy bullion, don't by any foreign gold coins of any type (confiscatable by US fed gov... they can't confiscate US mint gold coins.)
>>Be aware of the tax policy of your state before you buy. <<
Yikes! It never occurred to me I could be taxed on this! Thanks, I think I might owe you 8.5% (of course that is a Karma debt)
>> Bottom line, don’t get into metals thinking you can get out in 6 months having made a huge profit. <<
I always invest in the long-term. I am planning on a 20 year horizon and mostly to keep my wealth away from a Cyprus/Brussels/coming soon to the entire EU then the US flat-out confiscation/redistribution.
See Chumlee
Thanks, Ron.
That is the kind of advice I was looking for!
Would not bullion in my hands work as well? Coins make me nervous (for no more reason than why I started this thread)...
AJPM.com “Good people” for sure.
Well not yet
Gold and silver are not investments. They are hedges and stores of value. Nothing more.
Who the heck wants to buy a loaf of bread with a gold coin of high numismatic value? Shouldn’t ‘SHTF times’ trump ‘value of the dollar’ mentality?
Historically this returns more to you then gold bullion.
And last - buy some silver as well, to put into the account. Many believe (and prices / availability prove) that silver will likely come close to doubling in price in the not distant future.
What makes you think that they could confiscate one but not the other? King Franklin confiscated U.S. currency along with the rest of the gold people were holding as a source of value. The fact that he stole 43% of the value of people's gold holdings probably contributed to the lack of capital in places that could contribute to economic growth.
Make sure you have a well thought out secure stash hideout for your metal before you make the leap!
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