“$50,000-dollar gold and all these other numbers that other people have thrown out, wouldn’t be all that crazy…”
Maybe excess profit taxes come into play and since you don’t have paperwork for something you bought, the IRS might say “Oh, ok, your basis price is zero, and, therefore, everything you’re selling it for has to be reported as 100% capital gains. Therefore, we are going to tax you at 50, 60, 70%” or Whatever you do that is excess profit taxes for all of these social misfits and terrorists that dare to try to hedge and protect themselves from a financial system that is teetering on the edge. I have every expectation that we are going to have excess profit taxes (on precious metals). ~Eric Dubin
Diversification is very important, especially for those with $100,000 or more of savings. If your savings worth is valued at $100k or more, it would be foolish to not have several types of savings vehicles. Of course, we like gold and silver best, especially silver, but lead bullion (ammo) would make a great savings vehicle. Weapons of all types, in my opinion (not advice), would be another great savings vehicles. The one question a person needs to ask themselves when it comes to keeping your 401k or IRA account is: Will taxes be higher tomorrow than they are today? Taxes are going up all the time. How can I keep as much of MY MONEY, that I earned, that I worked for? What opportunities do I have to keep my money for my family instead of being taxed by a criminal, out of control government that is going to use it for the purposes they deem important? This has been a driving force of my life for the past six-seven years. This is why conducting interviews with people like Eric Dubin are at the top of my priorities list. If you want to keep your money and currency, please begin thinking for yourself and making decisions that your family may or may not agree with today, but in time, with continued education, they will begin to see that you are doing the best that you can with what you possess.
“We could see the scenario of weeks where the (financial) markets just don’t work. We had that in 2008, in fact, on the morning of the most dire crash. The credit market completely freezes up, the overnight lending market completely froze up and there was an inability to get even generic financing to make goods roll.” Bartering is a great form of transacting business for people that live in smaller communities. Unfortunately, most of us live in or very near large cities. Can you imagine having to leave your home that has been fortified, in order to procure some water or medication or something that is absolutely essential to sustaining life? What would that look like?
“There are other things you can do to get hedged against financial turmoil it’s not just gold and silver, you can also own a significant amount of ammunition stored away.” Ammo has been on my radar for a couple of years now. If you look at stocks for various firearm manufacturers around the country, you will find significant growth over the past ten or more years. This also applies to ammunition manufacturers as well. Lead, brass and copper make for a great addition to one’s portfolio (not advice, just information) if a person wanted to seek alternative savings and hold what they own. At The Daily Coin, we believe in physical metals. We believe in the value of information and like listening to what others have to say. If it is worth keeping, we store it away the same way we would store any other item of value. We keep it close, use it often and continue building on what we started. If the information, or situation, changes we are able to make the necessary adjustments without causing too many problems. Why? Because we have learned to be good stewards of our lives, exactly like every one of us has been taught. The fact of the matter is, as children, we were taught to be good stewards and somewhere along the way it was beat out of us.
Catherine Austin-Fitts has discussed, for many years, the “slow burn” theory of an economic meltdown. Eric and I both tend to agree with this line of thinking. The disruptions we have seen, like in 2008, have been anomalies–in my opinion, Eric may or may not agree with that analysis–and simply created scenarios for the uberwealthy to merely transfer more wealth to themselves. How does this effect the current ongoing financial crisis and is there a chain of events that could crash the global system “accidentally”? “The Chinese and the Russians have already gone through years of participating in this “slow burn” process the geopolitical and economic power of Russia and China have expanded, visa vie the West, and it’s been in their best interest to play along the sidelines benefiting from the transition of economic power moving Eastward…”
The Over The Counter (OTC) market, where derivatives are traded, seems to be broken or has some serious issue festering in the background. I believe the “powers that be” are attempting, on a daily basis, to “patch it together” or are attempting to come up with a solution and it has their undivided attention. The equities markets in particular have been acting curiously for most of 2014, gold and silver have been on the move to the upside. Eric states: “It’s happening right now. When you look at the treasury bond market in the US and Belgium is sitting in for the purchases that exceed what has been removed by QE. I mean this whole QE thing is kind of an illusion…” Why would the criminals that have been heavily manipulating the markets, for several years now, all the sudden back off and allow a rise to begin occurring in the gold and silver markets?
All of this and much, much more in the interview. We hope you take the time to listen in and we especially hope you learn something.