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Buying Gold Bullion Offshore: Your Safe Haven for Asset Protection
By admin | April 30, 2009
I’ve been kept very busy in recent weeks by a flood of new clients looking for real offshore asset protection.
By that I mean people are finally catching on to the fact that it’s all very well to protect your assets against the tax man or ex-spouse, but a real clear and present danger is that your assets are swept away from you through the back door through inflation and devaluation. If you’re not careful, you’ll be so distracted by things like pig flu that you won’t even notice the government has stolen your money!
And no offshore bank account can protect against this, because offshore bank accounts are denominated in fiat money too.
What I mean is this. You might well start with $1,000,000 in your account and finish the year with $1,000,000 in your account. Since everybody else has been suffering huge losses, you might think you have done well to “protect” your assets. Yet, if that $1,000,000 buys you less than it did a year ago, you have lost out.
In my personal opinion, all major currencies are all set to crash, and it is just a matter of how far and how fast. In the UK, the government literally gave the Bank of England a licence to print money in secret, removing the oversight that has been in place since 1844. As for the Euro, a recent article in The Daily Telegraph points out that, according to Merrill Lynch, the rich “are so alarmed by the state of the financial system and signs of political instability around the world that they are now insisting on the purchase of gold bars, shunning derivatives or ‘paper’ proxies.” One of the reasons quoted for this is the insecurity in Greece and the impending collapse of the euro.
And of course, it’s worth pointing out again the reason for buying physical gold bullion, as in gold bars, gold coins and gold nuggets. Although convenient, in times of crisis holding an exchange traded fund is not the same as holding real gold. What happens, for example, if your broker or the fund manager goes under? Title to the actual gold is not in your name. You cannot lay your hands on it. With physical gold bullion, you can.
Yes it is scaremongering indeed – something I’ve been doing proudly for years, and it does vindicate my position somewhat that my advice, ideas that might have seen way out even when I started blogging here in last year, is now being rehashed by The Daily Telegraph. (Refer, for example, to my article How and Why You Should Buy Physical Gold Offshore posted at lowtax.net before the recession hit really hard…)
Following up on that advice on how to invest in gold bullion offshore as part of a diversified portfolio, buying gold bullion has become quite difficult lately. Demand has shot up, as have premiums. I’ve been looking in to offshore safe deposit box options, and have also found an unusual way to buy physical gold bullion direct from an offshore company that owns the hard mining assets, bypassing the usual cartel.
All is revealed in The Gold Report: How to Buy and Store Physical Gold Offshore, available free of charge to readers of The Q Wealth Report. If you haven’t yet got your copy, sign up today!
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