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From Silver Investor

Many precious metals investors like the idea of using an Individual Retirement Account as means to save in precious metals. However, many are reluctant to do so because their metal is being held by someone else.

What if I told you that you could fund an IRA with precious metals and keep them at home?

The IRA LLC is a treasure to the precious metals community and few even know it exists. The structure allows the individual to take physical, at-home, possession of Gold and Silver Eagle Coins with IRA funds and it is not a taxable distribution. The metal does not have to be held at a depository and can be purchased from the dealer of your choice.

For those that have considered cashing out their IRAs or 401ks thus paying taxes and penalties, this can be a much cheaper alternative to physically holding precious metals.

It is also important to know the structure has been challenged and upheld in court numerous times, and the IRS ultimately released a field advisory statement in April 2001 stating it would no longer challenge the legitimacy of the IRA LLC structure.

Perhaps the little known nature of this concept is a good thing. Even most experts in the field of precious metals don’t know about it. Most hard money advocates hear the words IRA and metals and immediately assume involvement of a third party storage trustee. We have been conditioned to believe that we cannot hold our IRA assets, that we are not in control and that we must rely on brokers, bankers, and storage depositories. This is not true.
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From Economic Collapse Blog, by Michael Snyder

Do you have a bank account that you don’t actively use or a safe deposit box that you have not checked on for a while? If so, you might want to see if the government has grabbed your money. This sounds absolutely crazy, but it is true. All over the world, governments are shortening the time periods required before they can seize “dormant bank accounts” and “unclaimed property”. For example, as you will read about below, just last year the government of Australia seized a whopping 360 million dollars from dormant bank accounts. And this kind of thing is going on all over America as well. In fact, all 50 states actually pay private contractors to locate bank accounts and unclaimed property that can be seized. In some states, no effort will be made to contact you when your property is confiscated. And in most states, the seized property permanently become the property of the state government after a certain waiting period has elapsed. So please don’t put money or property into a bank somewhere and just let it sit there. If you do, the government may come along and grab it right out from under your nose.

In this day and age, broke governments all over the globe are searching for “creative ways” to raise revenues. In Australia for example, the time period required before the federal government could seize a dormant bank account was reduced from seven to three years, and this resulted in an unprecedented windfall for the Australian government over the past 12 months…

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From Silver Coin Investor, By Dr. Jeff Lewis

“…Even though the property was originally stolen, that if the victim or his heirs cannot be found, and if the current possessor was not the actual criminal who stole the property, then title to that property belongs properly, justly, and ethically to its current possessor.” – Murray Rothbard

If you don’t hold it, you don’t own it. This should be the soothing mantra for all long term precious metals holders.

With all the options available these days, from traditional physical investing to the self directed IRA LLC, there is no excuse.

Traders and speculators are dealing in derivatives.

Perhaps all well and good for the moment, until it comes time to cash in the insurance policy.
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