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Thread: Which is more likely to be seized, gold in safety deposit or money in 401K?

  1. #31
    Quote Originally Posted by Tod View Post
    If I had physical gold, I would not keep it in a safe deposit box because a safe deposit box pretty much defeats the purpose of having physical gold.
    Yes, one might just as well buy paper gold and let the seller charge a fee to "store it for you."



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  3. #32
    I think if you buy bullion with IRA money, you have to keep it in a bank box until you take the disbursement & that's why the OP asked...



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  5. #33
    Should I trust banks or should I trust banks?


    NO NO

    'We endorse the idea of voluntarism; self-responsibility: Family, friends, and churches to solve problems, rather than saying that some monolithic government is going to make you take care of yourself and be a better person. It's a preposterous notion: It never worked, it never will. The government can't make you a better person; it can't make you follow good habits.' - Ron Paul 1988

    Awareness is the Root of Liberation Revolution is Action upon Revelation

    'Resistance and Disobedience in Economic Activity is the Most Moral Human Action Possible' - SEK3

    Flectere si nequeo superos, Acheronta movebo.

    ...the familiar ritual of institutional self-absolution...
    ...for protecting them, by mock trial, from punishment...


  6. #34
    Quote Originally Posted by cubical View Post
    There is no need to steal anything. Much easier to just print money/devalue. Literally stealing in the form of taking 401ks and replacing them with government debt(which I don't even see how this would work) or going into everyone's safety deposit box(is this even feasible?), would be political suicide.
    +Rep

    Very true, but not all have the power to print money. I think it is much easier to go after what they know about, so they will go after 401ks first. It is true that the real target is Gold, however to maintain the Illusion that Fiat Currency has value, they go after that first until you have no choice but to spend your gold, and will probably never get it back. By acting like they dont want your Gold, its value goes down, which makes it easier for them to acquire. Its kind of like haggling over the price of a car. The less you act like you want the car, the more they will lower the price on it. Its the same reason they act like they want your Fiat Currency. We really really really want it a lot a lot a lot so people think it has the same intrinsic value as gold, and it does not.
    1776 > 1984

    The FAILURE of the United States Government to operate and maintain an
    Honest Money System , which frees the ordinary man from the clutches of the money manipulators, is the single largest contributing factor to the World's current Economic Crisis.

    The Elimination of Privacy is the Architecture of Genocide

    Belief, Money, and Violence are the three ways all people are controlled

    Quote Originally Posted by Zippyjuan View Post
    Our central bank is not privately owned.

  7. #35
    Quote Originally Posted by cubical View Post
    There is no need to steal anything. Much easier to just print money/devalue. Literally stealing in the form of taking 401ks and replacing them with government debt(which I don't even see how this would work) or going into everyone's safety deposit box(is this even feasible?), would be political suicide.
    I agree to a point, but printing money only works until your currency collapses. I was assuming this would happen (confiscation) AFTER a currency crisis.

  8. #36
    I think it is very possible it would all happen at some point , if it does , they will not be getting much from me . Since I do not know when it may , I just plan as if it is next month , or 10 yrs all at the same time .

  9. #37
    Quote Originally Posted by Madison320 View Post
    Just wondering what you guys think. I think it would be harder to seize gold from your safety deposit box compared to money in your 401K, but the 401K has safety in numbers. So I'm not really sure.
    The nice thing about a safety deposit box? No one knows what's inside it. It could be a fortune in gold. More likely it's important dog license papers. Awful lot of boxes out there... if you just need a quick fix of money, there's easier ways of getting it, better targets.

    Ideally the gold should be out of the reach of your own government and far, far across the sea.

  10. #38
    For a small quantity of gold, I suppose a safety deposit box, as well as keeping some around the house, is ok.

    But for larger amounts, I would use a private vault service where my gold was insured.


  11. #39
    Quote Originally Posted by DFF View Post
    I would use a private vault service where my gold was insured.

    http://www.usprivatevaults.com
    This would be a prime example of one of those better, easier targets I was talking about. "USPV is located on Olympic Boulevard in Beverly Hills",... smack dab in the United States of America. This is a bad plan (relatively speaking). US citizens or residents should store their gold somewhere outside the jurisdiction of the US government if at all possible for them. And it is very possible. Some of the best options are, in my opinion, Switzerland, Austria, New Zealand, and Australia, and Singapore.

    So, sorry DFF but I would strongly encourage everyone to not take your advice, and yourself also to reconsider whether you might be better served by an overseas vault.

  12. #40
    Quote Originally Posted by helmuth_hubener View Post
    The nice thing about a safety deposit box? No one knows what's inside it. It could be a fortune in gold. More likely it's important dog license papers. Awful lot of boxes out there... if you just need a quick fix of money, there's easier ways of getting it, better targets.
    That's a good point, they'd have to drill open a lot of boxes. Things would have to get really bad for that to happen. If we had a complete fiat currency collapse, it might be worth it for them because gold would be incredibly valuable. If fiat currency had no value where would governments get money? What would they take? Real estate? Shares of stock? I'm not sure how that would work.



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  14. #41
    Quote Originally Posted by Madison320 View Post
    I agree to a point, but printing money only works until your currency collapses. I was assuming this would happen (confiscation) AFTER a currency crisis.
    The government has over 8000 tons of gold already. They don't need your 3 ounces. It wouldn't be worth their time and the political damage going after private gold.
    What I say is for entertainment purposes only!

    Mark 10:45 The Son of Man did not come to be served, but to serve, and to give His life as a ransom for many.

    "If you want to make a lot of money, resist diversification." - Jim Rogers

  15. #42
    Quote Originally Posted by cubical View Post
    The government has over 8000 tons of gold already. They don't need your 3 ounces. It wouldn't be worth their time and the political damage going after private gold.
    I agree that it wouldn't make sense for them to do it. But you just never know what gov't might do. Best to be prepared: even for the unthinkable.

  16. #43
    The hardest to seize would be your seeds and food supplies.

    You can't eat gold.
    Few men have virtue enough to withstand the highest bidder. ~GEORGE WASHINGTON, letter, Aug. 17, 1779

    Quit yer b*tching and whining and GET INVOLVED!!

  17. #44
    Quote Originally Posted by mosquitobite View Post
    The hardest to seize would be your seeds and food supplies.

    You can't eat gold.
    But you can use it to trade for food.

  18. #45
    Quote Originally Posted by mosquitobite View Post
    You can't eat gold.
    The majority of useful things in this universe either cannot or should not be eaten.

    And actually, you can eat gold.

  19. #46
    Quote Originally Posted by cubical View Post
    The government has over 8000 tons of gold already. They don't need your 3 ounces. It wouldn't be worth their time and the political damage going after private gold.
    That's a good point. Plus the fact that the vast majority of people don't own gold. So fishing for it in safety deposit boxes probably wouldn't be worth it.

    What about commodity ETFs like gold and oil? Maybe if the govt only targets "speculators" they can avoid political fallout and crashing the market. I would think a much higher percentage of people own bonds compared to commodities. The govt could blame the speculators for crashing the bond market and they might have political support to transfer wealth from the "greedy speculators" to the "patriotic bond holders".

  20. #47
    Quote Originally Posted by Madison320 View Post
    What about commodity ETFs like gold and oil? Maybe if the govt only targets "speculators" they can avoid political fallout and crashing the market. I would think a much higher percentage of people own bonds compared to commodities. The govt could blame the speculators for crashing the bond market and they might have political support to transfer wealth from the "greedy speculators" to the "patriotic bond holders".
    It's good to ask questions like this. It's useful to then try to really think through what would be going on were crazy things like this to happen. If this kind of craziness were happening, it would mean there's a big crisis, I mean a serious no-joke crisis going on and in full swing in the US federal government. That would be a scary and unpredictable time. A time like that is precisely when you want some of your wealth safely overseas out of the reach of the US government. That will be the biggest thing that will protect you in that scenario. It will help you keep your nerves and make better decisions. It will give you decisions to make in the first place, rather than being trapped. When there is a crisis, you may not be able to get your money out of the country. Better to get it out now, while it's relatively easy to do so.

    Rule #13: Keep some assets outside the country in which you live.

    Don't allow everything you own to be where your government can touch it. By having something outside the reach of your government, you'll be less vulnerable and you'll feel less vulnerable. You'll no longer have to worry so much about what the government will do next.

    For example, maintaining a foreign bank account is quite simple; it's little different from having a mail or Internet account with an American bank or broker.

    -- http://www.harrybrowne.org/articles/InvestmentRules.htm

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