[Plantagenet]

$this->bbcode_second_pass_quote('theluckycountry', '
')Buying and holding gold is not like having money in a bank

[theluckycountry]

$this->bbcode_second_pass_quote('Plantagenet', '')$this->bbcode_second_pass_quote('theluckycountry', '
')Buying and holding gold is not like having money in a bank

[Plantagenet]

$this->bbcode_second_pass_quote('theluckycountry', ' ')If a bank gets into trouble and closes it doors, they don't have special opening hours for deposit box hodlers.[sic]

[theluckycountry]

Nothing Is Safe From the IRS

When it comes to collecting taxes, the law tends to favor the IRS, and provide them with mechanisms to force tax delinquents to pay. Not much is safe from the taxman.

However, when a court order is issued to open or seize the contents of a safe deposit box, the order must specify exactly what is to be seized. If cash is stored in the safe deposit box, this can be seized directly. If valuable items are being stored, their value may be assessed, and strategically sold off to satisfy the debt.
How Safe Is Your Safe Deposit Box?
Unlike normal deposit, checking or savings accounts at a bank, safe deposit boxes are not FDIC insured
https://www.findlaw.com/legalblogs/law- ... posit-box/

"All safe deposit boxes in banks or financial institutions have been sealed... and may only be opened in the presence of an agent of the I.R.S."
- President F.D. Roosevelt, 1933

Would they do that again? If Biden thought he needed to bolster the Federal gold reserves he might.
Bottom line, if you don't hold it, you don't own it.

[AdamB]

$this->bbcode_second_pass_quote('theluckycountry', '
')"All safe deposit boxes in banks or financial institutions have been sealed... and may only be opened in the presence of an agent of the I.R.S."
- President F.D. Roosevelt, 1933

Bottom line, if you don't hold it, you don't own it.

[theluckycountry]

Russia and China have been in cahoots for quite some time now. Not only have both countries developed a payment network to rival SWIFT, they are also looking to be rid of the US Dollar. A new alliance between both nations will focus on a gold-backed trading standard. Bypassing the US Dollar is quite an ambitious goal, but it is not entirely impossible either.

A few weeks ago, the Russian Central Bank opened an overseas office in Beijing. That is quite a significant development, to say the least. A stronger Beijing-Moscow alliance can create a major break-up in the financial sector, that much is certain. Strengthening economic ties between both nations is nothing new, yet it goes to show bigger things are at play behind the scenes. There is even a rumor of how both countries want to introduce a new gold-backed trading standard.

Anyone who has followed the history of the US Dollar will know the currency was decoupled from the gold standard. Although financial experts have claimed these “mistakes” should be undone, protests have fallen on deaf ears so far. This new alliance between China and Russia aims to take advantage of the weakened state of the US Dollar. In fact, it becomes possible to bypass the world’s leading currency altogether. Doing so will have catastrophic consequences for the global financial ecosystem.

https://www.newsbtc.com/news/china-russ ... -standard/

"catastrophic consequences for the global financial ecosystem" That is basically the main reason for owning bullion grade Gold in today's world. But let's not call it bullion grade, that's taxable. A private "coin" collection isn't, and coins are the choice of the wise investor.

[Plantagenet]

$this->bbcode_second_pass_quote('theluckycountry', '[')i]Russia and China have been in cahoots for quite some time now. Not only have both countries developed a payment network to rival SWIFT, they are also looking to be rid of the US Dollar. A new alliance between both nations will focus on a gold-backed trading standard.
https://www.newsbtc.com/news/china-russ ... -standard/

[theluckycountry]

A good video on the key investments "The Rich Are Hoarding Farmland, Water & Gold"

https://www.youtube.com/watch?v=9bIqf8uUotE
the discourse on Gold begins at 8:50

[Tanada]

I recall an article I read a few years back about how India is a giant gold vacuum because in traditional marriages they dress the bride up with as much gold jewelry as they can afford as her dowry. If something happens to her spouse she is to use the gold for self support while her husbands children inherit all other wealth the couple had. Sons get the property and daughters get dowry shares for their own future weddings.

[Newfie]

The one analyst I follow seems to think Russia has a large amount of gold production and that is one way they are getting around sanctions. They pay in physical gold.

I have also heard it said Wagners claim to fame is taking over African gold mines and seeking their production.

[theluckycountry]

They are getting around the sanctions the same way the west Europeans are, the trade through China.

$this->bbcode_second_pass_quote('', '&')quot;Gazprom keeps increasing gas exports to China via the Power of Siberia gas pipeline. In 2022, gas supplies regularly exceeded daily contracted amounts based on China’s request. As a result, we exceeded our yearly obligations,” Gazprom’s chief executive Alexei Miller said in a company statement at the end of 2022.

[AdamB]

$this->bbcode_second_pass_quote('theluckycountry', '
') But more alarmingly for the West...

April 3, 2023
Russia Nears Pipeline Deal as Gas Exports to China Hit New Records
Russia’s proposed Power of Siberia 2 gas pipeline would enable gas historically exported to Europe to be redirected to China along a single pipeline system that joins the country’s West and East Siberian resource centers. https://jpt.spe.org/russia-nears-pipeli ... ew-records

[ralfy]

About not being able to eat gold, gold and silver have limited practical use outside money, jewelry, and some applications.

[theluckycountry]

AMZN, Amazon. A modern method of saving for the future is shares in this company, one of the largest out there. Like Gold, It has never paid a dividend, so if you bought it your only hope of gain is to sell it at a higher price. It's all time high was somewhat over $3000 a share back in late 2020, the covid effect. Since then there has been some changes, most notably the stock began a big fall in 2022, but as long as you bought in before the middle of 2018 your still breaking even. So five years and no appreciable gains and all the gains before that were just a bubble run-up anyway.

Another big change was the stock-split of 20:1. Amazon sold this to punters as making it easier for small investors to buy in, and in a sense that's true! Because if you look at a chart today you see an all time high (adj) of around $175 and today's price of $106. That's a lot more palatable than seeing that the share price lost $1000+ over the past year. All the other big corporations pulled the same stunt, hiding their losses by making the share prices look they never entered bubble territory to begin with.

Over the same time-frame Gold has appreciated 80%, and that's in $US. It's gone up more in other currencies. Amazon's history as an investment vehicle is about 20 years. What will it be in another 20 when a large proportion of investors want to retire and spend their savings? Tesla is getting pushed out the backdoor now with the competition it faces and there is nothing to say a big shift in consumer behavior wont send Amazon out the back door either. 20 years is a long time for any corporation. I could imagine China setting up it's own distribution network to rival Amazon. Why not, most of the stuff on there comes from china anyway.

But most people don't actively manage their retirement accounts, they leave their life savings in the hands of men, women and transgenders they have never seen, nor will ever see. People dedicated to one purpose, ensuring that THEY retire with lots of money. This is why we buy gold. Because we don't trust corporations, we don't trust government and it's ever changing tax laws, and we certainly don't trust smiling retirement account hawkers.






https://finance.yahoo.com/quote/AMZN?p= ... m0o32z3jzm

[AdamB]

$this->bbcode_second_pass_quote('ralfy', 'A')bout not being able to eat gold, gold and silver have limited practical use outside money, jewelry, and some applications.

[AdamB]

$this->bbcode_second_pass_quote('theluckycountry', ' ')People dedicated to one purpose, ensuring that THEY retire with lots of money. This is why we buy gold.

[jato0072]

Eventually, all fiat currencies will join the ash heap, it is only a matter of time.

[ralfy]

If you take the amount of gold and silver worldwide and divided it by the world population, you end up with only a few ounces per person.

And the value of both drop as things that need to be purchased also decrease in supply.

[AdamB]

$this->bbcode_second_pass_quote('jato0072', '
')Eventually, all fiat currencies will join the ash heap, it is only a matter of time.

[AdamB]

$this->bbcode_second_pass_quote('ralfy', 'I')f you take the amount of gold and silver worldwide and divided it by the world population, you end up with only a few ounces per person. And the value of both drop as things that need to be purchased also decrease in supply.