Gold Held in Your Name in a Foreign Country (Pooled or Allocated)
We’ll repeat here that in 1933, the US lead by FDR confiscated all Americans’ gold and then paid them what was then the stated rate, followed by a change in the stated rate which effectively dropped the value of the Dollars exchanged for the confiscated gold by almost half. None of us like to think of our country doing this and since very few of us were alive then, we believe that something like that has never happened here, but in fact, it has. When times are tough, people (especially political types) behave in ways that we wouldn’t ordinarily think they would behave.
Because of this, it might make sense for you to hold gold (& silver) outside of the United States. In 1933, the US government did not try to confiscate foreign held gold (or jewelry) and so if history were to repeat, this money would be safe. (We actually believe it’s much more likely the government would target IRA’s and 401k’s than gold due to the amount of private wealth held there, but we’re trying to point out all possible scenarios here).
Another important aside is that every financial decision should be made in prayer. The right answer for one is not necessarily the right answer for another. We firmly believe that the smartest financial move to make right now would be to move any and all assets to what we consider a “safe” country and whether the storm there. But the Lord is not leading us to do that, and so we plan to be here.
If you feel the Lord is leading you to move some assets out of the US’s jurisdiction (because if history is any guide the government will almost certainly come after certain liberties and assets that you currently enjoy), then you should do it. However, maybe you will be called to give up certain assets because its good for you to experience this suffering. (Or at least endure the testing involved in the possibility of such an outcome) In that case, hiding assets overseas would not be what’s best for you. Or maybe a time will come when you really need those assets in the US and tariffs have made it almost impossible to bring them home (another favorite ploy of scared politicians).
Pray for guidance and we’re here to talk you through these things, but this is the information if it’s needed.
Gold Vaults There are multiple firms which will hold gold for you outside the country in either or both of pooled (unallocated) or allocated accounts. Allocated accounts cost more but have the advantage of moving you from being a general creditor of the vault in the case of bankruptcy/default to being an owner of particular pieces of bullion. Obviously, you want to make sure that you are dealing with a trustworthy company.
Buy it or take it offshore yourself. Of course you could put your gold on your property or somewhere else you consider safe in a foreign country by physically doing it yourself. This would be the most tedious, but could possibly be the most secure. You could also use either of the two methods above to facilitate this transaction.
This post is Part 12 in the series A Few Ways to Prepare. To continue with this series, click on Pt 13. To use this as a growth tool to better understand your own calling, you might start by reading Pt 1, Pt 2, Pt 3, Pt 4, Pt 5, Pt 6, Pt 7, Pt 8, Pt 9, Pt 10 and Pt 11.
Photo credit: swimparallel