https://scontent-ord1-1.xx.fbcdn.net/hphotos-xta1/v/t1.0-9/12122521_475159219331269_3627190858808642644_n.jpg?oh=f3025ea50e6d73153b13e4f94523e73f&oe=56903494
feast your hearts and eyes
Scott I'm right there with you. I have been living and working on my small farm for about 7 years now. The thing is, there are property taxes. So, while I agree that land is wealth it also comes at a yearly expense. What happens to our property taxes when our government gets desperate? IDK. But I like gold and other forms of wealth as a hedge against skyrocketing property taxes.
This article brought up the possibility of Gold selling becoming illegal, the author as much as said that it was likely here in the US. So if thats a strong possibility, given all the reasons listed why gold is a problem for central banks, why should anyone buy it? It doesnt sound like a safe hedge against calamity at all. It sounds like just when gold can be of the most use, it also becomes most likely to be criminalized. After reading the article I am more negative toward gold than ever.
That may be possible or even likely in the west but not in Asia. You could get some gold stored in Singapore which is probably quite safe. Also if gold does become illegal in the west it won't last forever since the totalitarian regime will be unstable.
Mark, I'm of the "if you cant lay hands on it, you dont own it" school of thought regarding economic crisis. I definitely wouldn't trust my gold to Singapore. A communist country in the throws of financial collapse doesn't seem like a safe bet for my assets. IDK maybe Zurich where they have a history of protecting assets but if gold becomes illegal to sell our gold bars just became shiny doorstops.
If gold becomes illegal to sell it's value will soar. Nothing drives up the cost of an in demand commodity like the government getting involved…cocain anyone? Sure you'd be a criminal if you sold it, but most of us already are under the current structure of law if we realize it or not. They would prosecute a few of us as an example and confiscate from anyone dumb enough to sell to an undercover officer or a snitch, but man, if you could put together a safe sale under those circumstances the risk-premium would make for a nice profit.
Brushog,
Singapore is not a communist country. Their form of government is a parliamentary republic. Just saying…
Mark
You definitely have a point there. However, I'm a small farmer who lives pretty isolated. I don't know where I'd even begin to put together an illegal gold transaction. Plus I have my wife, baby son, and farm to think about so I'm not taking those kinds of risks. After some further thought on the subject, having SOME gold stored in an overseas vault might actually be a decent idea. I could conceive of selling said gold in another country, where it's legal in such an event.
I actually take back my criticism of holding gold in Singapore. I can definitely see the benefit. Looking at BullionVault as recommended on this site, I can see there's a potential to store gold overseas…like say in the Singapore vault. They sell your gold for you so assuming bullionvault is still in business after gold selling becomes illegal, one might still hold their gold in the vault and have it sold overseas. I dont know if that is all actually doable under such a scenario but it seems reasonable.
The challenge I see with doing that is if you want to buy 100 acres with your gold how are you going to be able to do a gold transaction like that to be able to come up with the cash and then walk into the "bank", or whatever is acting as the bank after the crash, and pay for it. Eyebrows will be raised and they may have rules in effect outlawing such large cash transactions, in the name of fighting terror and money laundering.
Get your land first! The biggest use for my gold is in paying my property taxes in the event of a hyperinflationary scenario. Large purchases may be tough if you are selling gold in a black market ( assuming you can find one ). That idea about holding gold offshore sounds good because it can be sold offshore where it is legal (? ) Although I'm not sure how that will all work legally. I've been looking into bullionvault for offshore holding.
Buenas tardes, muchas gracias por la informacion, ha sido muy util para mi. Asisti en marzo 2015 a su conferencia The Crash Course en Mexico DF.
Vivo en Mexico y tengo problemas para comprar Onzas de Oro puro. Solo encuentro "Centenarios" Esta pieza tiene un contenido de oro puro de 1.20565 Oz., y tiene una pureza de 0.900. Me recomiendan comprar estos?
En plata he comprado Onza Libertad que tienen Ley: .999 plata pura. Que recomendaciones me dan para invertir mas en oro y plata fisicos?
Gracias por su atención.