Offshore Gold Storage
“If your gold is outside the US, it gives you another degree of insulation should the United States decide that you shouldn’t own it.” – Doug Casey
I’ve been a holder of gold since the 1970’s. At that time, I was purchasing gold and silver for business reasons and found that, as the price was steadily increasing, I’d be wise to buy more than I needed immediately, as I’d most certainly profit from it in the near future.
At that time, I was buying most of my precious metals in Hatton Garden, the centre for physical metals usage in London and, in talking with my more experienced associates there, I learned that gold doesn’t just make pretty jewellery, it has, for over 5000 years, served as man’s best economic insurance policy.
Since the creation of the first fiat currency in China, ca. 600 AD, governments have had the annoying habit of creating fiat currencies.
Over the centuries there have been countless fiat currencies. Most of them have been paper currencies and, with the exception of the present-day fiat currencies, all have eventually become worth exactly zero.
Not a very good track record and, in my estimation, those fiat currencies that still exist will also come to an end, possibly soon. But whenever a fiat currency has come to an end, gold has retained its lustre and saved the day, providing a solid means to store wealth. Although governments and bankers have done all they can to discredit gold and discourage its use, gold invariably outlives them all. Whenever history has seen periods of dramatic overreach by banks and/or governments, gold once again re-establishes the very definition of money.
Today, we’re passing through one of these eras of overreach and, not surprisingly, those who are farsighted, are quietly building up their store of gold, to protect them when the latest form of fiat currency joins the rest that have collapsed over the centuries.
But, having realized the need to own gold and then beginning to build up a portfolio, the holder asks himself, “Where should I keep it?” The obvious answer is at home, or somewhere very close, so that he ma
Article from LewRockwell
LewRockwell.com is a libertarian website that publishes articles, essays, and blog posts advocating for minimal government, free markets, and individual liberty. The site was founded by Lew Rockwell, an American libertarian political commentator, activist, and former congressional staffer. The website often features content that is critical of mainstream politics, state intervention, and foreign policy, among other topics. It is a platform frequently used to disseminate Austrian economics, a school of economic thought that is popular among some libertarians.
