Protecting your family’s wealth by trading dollars for physical silver/gold is one of the wisest decisions you’ll make. We can debate silver vs. gold but at day’s end both metals are shaping themselves into the last safe-haven currency while all other currencies race toward debasement. This not only means the value of your physical metal will rise but so will the temptation for others to take what you’ve worked diligently to own.
Below are few paragraphs promoting my newest book Storing Silver & Gold. Each chapter is an extended answer to the many storing questions readers like you are asking. Questions like how to insure the PM you have stored at home, what is the best way to discretely buy silver or gold, or the only time you should store SOME metal within a bank box, and when it’s time to consider storing metal abroad (internationally). I hope you enjoy this tiny taste of my newest book release.
Storing Silver & Gold: How to Safeguard your Precious Metal. I believe at least fifty percent of those practicing home storage do so with sub-par safes improperly mounted to the structure’s sub floor or foundation.
Wow, this means half of you should be reading very closely. Now, I’ll be the first to admit I am not a safe or vault expert. (We’ll hear from those who are in the next chapter.)
My goal is to not discourage home storage, but encourage proper protection for the assets you’ve worked so hard for. Storage must be part of our overall PM plan, but you’d be surprised how often it isn’t. If you’re not ninety-nine percent comfortable with your form of home storage, I encourage you to take the money and time to correct this before buying more silver or gold!
Again, in-home theft will most likely never be an issue, but why not provide one last level of security, just in case I’m wrong? Would you be surprised to hear that the number one source of your PM’s security is the one least considered—you!
Let me explain. The best way to defend against bad guys is to beat them at their own game. This starts with a refusal to let anyone take what’s yours. Most robbers try to take something of value from someone unsuspecting and weaker. Their plan is to enter a home full of valuables, and quickly transfer ownership from you to them, unnoticed and un-caught.
Think of it like an offense-defense conflict. The criminal is on the offense and you’re on the defense, trying to keep what’s yours. This usually works out okay, but I propose we change ends of the field.
What if we are the proactive ones? What if we turn this storage plan into an offense success story, leaving bad guys scratching their heads while looking for easier prey? We are about to throw out several proactive ideas; then it’s up to you to determine the best fit for your needs.
I have readers who are so supportive of our Second Amendment rights, they’ll slap NRA stickers on everything in their front yard. I also have isolationist readers who believe the world will soon turn into anarchy. They trust hardly anyone. I also have readers that know nothing about guns, NRA, or personal defense, but see PM as a necessity (and some live under strict gun control laws). Each must find the most appropriate means to store PM, within their beliefs.
I’m hesitant to include the real life story below, because it’s so shocking some readers might elect not to own PM. I want to make this perfectly clear: This is the worst-case scenario and, in all likelihood, will never happen to you or someone you know. It is quite disturbing, I warn you now. Read more here.
QUESTION: DC, I read your blog religiously and have been buying silver from Colorado Gold as you recommended. I plan to work another 7 or 8 years and I own my house and land, vehicles, etc. outright. My husband died last year, so I have only my income but I do have a 401k and stocks. Should I plan to get out of the stock market and buy PM? Would you draw the money out of the 401k? I think I’d feel safer putting that money into PM and I could live comfortably on my income. I have a farm and grow a lot of what I eat. Thank you for what you do…you have opened my eyes.
TPS Reply: Thanks for the email and nice words. It sounds like you’re making wise choices since losing your husband…… I can only imagine how difficult this last year has been. What impresses me most is how you’re utilizing PMs as a foundation for an independent lifestyle, very cool.
As you may know, I’m not a fan of retirement accounts or the stock market. I’m not saying that all stocks are risky or all retirement accounts are in jeopardy but we have certainly entered an age when politicians salivate over exposed pools of cash. My bet is most pensions and retirement accounts will fall under some form of capital controls.
Let me ask you; does this risk, of a bureaucracy controlling your capital, fit into a life built around self reliance? Your situation is unique in that you have personal wealth stored in both PM and “typical” investments too. I would favor PMs over traditional investments (given the times we live) and here is why.
I don’t have a crystal ball but here is how I see things playing out. Wall Street, the Federal Reserve, US Treasury, and this Administration are too wise to outright steal the wealth from those invested in stocks or bank deposits. Oh, don’t get me wrong, they will take some of it somehow but not as directly as what we’re seeing in Europe.
A more likely scenario is one that presents itself as a “takeover” that protects your wealth compared to flat-out stealing it. Those who understand currency debasement and capital controls realize confiscating wealth (like the retirement account you mentioned) allows a government to pay it back over time and with debased dollars. This also empowers a growing government as millions more rely on trusted politicians for groceries, shelter, healthcare, you name it.
Millions of other folks are asking themselves the same “do I or don’t I” type monetary questions. I wish I could offer more but…… honestly, no one knows how far an overreaching government will go in such a time.
Regardless, you’re miles ahead of most Americans….. good job!! Oh, be sure to read the next question because I’ve purposely combined it with yours. Thanks again.
QUESTION: Why is it that my financial planner has nothing favorable to say when I bring up relocating some wealth into physical metal? It’s getting a little old.
TPS Reply: I hear you loud and clear…… and couldn’t agree more. You can’t believe how often I hear this question from readers who are, like you, growing uneasy with the same nonsense. It’s not only monetarily foolish to not consider physical PM; it’s also playing out to be financially catastrophic in some cases.
Equities have benefited from the creation of a currency that can no longer sustain itself. The U.S. can continue to solely print US dollars (causing worldwide tension) but we can’t print jobs. Nor can we fool ourselves into using printed currency to create temporary jobs while simultaneously believing this is our path to a true long-lasting recovery. IT IS NOT.
Financial advisers have little to gain when your cash leaves the status quo and then reinvests into physical silver or gold. Why would an adviser recommend an asset that profits them nothing? The answer is pure and simple, at least from my viewpoint.
QUESTION: A relative sent over a site that sells junk silver for as low as $24 per ounce. Why should I pay the premium for American Eagles?
TPS Reply: Thanks for the question. Why would anyone sell physical metal when today’s premiums are around 30 to 40% over silver’s spot price? I would be very skeptical since it’s way too good to be true. If true, please send over the info because TPS has several thousand readers who will buy a boatload ASAP. Thanks again.
FED chief Ben Bernanke will be the first chairman to miss Jackson Hole in 25 years. This event is the Super Bowl for central bankers and I’m not buying the conflict in schedule excuse (this would be like Tom Brady too busy for America’s biggest NFL game). It leads me to ask if Bernanke is on his way out as the most abusive banker in world history. Trust me, we will keep a close eye on Bernanke’s exit and whoever fills the position of the next most powerful person on earth.
DC Carlton is founder of The Prospector Site and author of the Amazon Kindle #1 Bestseller Why Silver and Gold Will Go Higher and Storing Silver & Gold. If you’re looking for trustworthy PM assistance feel free to contact DC regarding his personalized consulting service. TPS doesn’t sell silver or gold; we represent you, the buyer, looking for affordable precious metal from honest trustworthy sources. Feel free to register here for his free online newsletter that provides precious metal insight rarely mentioned from mainstream media sources.