Marc Faber : “I prefer if investors hold physical gold in a safe deposit box, ideally outside the US, in various locations… Switzerland, Singapore, Hong Kong, Australia, Canada… I think it’s important in today’s very uncertain world to diversify, not only the various asset classes… but also the custody of your assets should be in different jurisdictions.”
I'm not sure why he is suddenly concerned about physical possession in America. I do know he is hyperbolic often, but also often proved to be generally correct. Either way - we do have a history in America of Bad People outlawing Gold from we serfs.
Here's the link.
Kerodin
III
I recommend converting all assets from the 1's and 0's to physical metal and supplies. There will be a cost to do this: about 50% in taxes for retirement accounts. I would not recommend putting gold in an account outside of your physical country. As Swiss depositors have found out, their gold was sold without their consent. As was Germany's gold held by our "federal reserve".
ReplyDeleteOnce again, if you can't hold it, you don't own it.
ReplyDeleteChuckM.
It's hard to wrap your mind around the outlaw of an earth mineral. How can these folks outlaw a piece of their Holy Mother Gaia?
ReplyDeleteFor me but not for thee,
Now get back in the bread line serf!