Four Reasons To Store Pm Overseas

to purchase gold, for security in uncertain times, makes some sense.
But, it seems silly to me, to store that gold where you can't see it every day, or where it's not within an easy walk from home.

So I just re-read this article, showing the wife how foolish it is. Couple more things jumped out at me. The biggest is that the #1 thing is that you can trade gold directly for goods and services in China and India. Well that's great, if you're in China or India... but you're not. This article is not aimed at those in China or India it is aimed at people "overseas" from there. Presumably USA. And I can't see easily trading for goods or services when I'm here and the gold is there. What good would goods or services in China do me, anyway? Unless of course things go that far south here, and in some post-apocolyptic scenario I am forced to flee to Hong Kong to reunite with my gold, but then-- assuming that the borders aren't closed, with all the flood of refugees, I don't speak the language, do I? And then I get there, and they didn't rent to me, they rented it to a corporation. But even if I got my gold out, now I am in a foreign country and have a suitcase full of gold. Do you think I might get mugged?

One might argue this is aimed at the super-wealthy, jet-set elite who think nothing of hopping on a plane to Hong Kong and maybe have an office or other resources there. Laying aside the fact that if this is true those super-wealthy would likely already know this secret, those folks would likely take their advice from a financial planner or expert in some field, not over the internet who can't be bothered to edit their article well. This sounds like it is written by someone in China or at the very least someone in a hurry.

Not to be the grammar police, but...


Their smallest safe deposit box is large enough to store several million dollars worth of gold coins for only around $80 a year and 8,000 square feet of storage are. (typo, should be area, and the sentence is talking about two different things)

But their downsides are this: they do not rent boxes anonymously but offer to rent through a corporation. (downsides plural are this singular thing)

And they are running out of room fast! (sentence fragment)

The most popular, small boxes, are still available but say that the demand is extremely high. (who say?)

Everything about this article makes me laugh.

Read more like a advertisement for the security corp, perhaps is the security corp or bankers in Hong Kong soliciting.

I'm with you on that, Junior. I just read an article on-line the other day about SDBs being opened and the contents being stolen in California. Apparently, the banks and the state are working in collusion on this. Virtually NO effort was made to contact the box renters before grabbing their stuff. Supposedly, Calif has a law that allows this for "abandoned property". A number of the people who have been ripped off said that their boxes contained paperwork of various kinds that included their name, address, and phone number... had anyone bothered to look. Scary stuff for sure.

My wife and I have a SDB at our local credit union. Unlike a bank, these folks are very nice and also quite competent. Not that the government couldn't still mess with them but so far so good in that department.

One thing I need to do is change the registry on the SDB from my personal name to the name of my trust. Once that is done, I won't technically own any of the SDB contents. The trust will own it and my wife and I will be trustees. Yes, it is a legal fiction but it can be a darned handy one at times.

Airline tickets to Hong Kong are expensive too..

Thanks JBuck. We've done business for over 30 years with these folks and they really are good. Prior to that time, we had an account with a local bank. Somehow, our checking account was ALWAYS $1-2 out of balance and ALWAYS in their favor. Not saying that they were robbing us by any means but it is interesting that we have not had any similar problems with the CU after 30+ years!



Yes, there is that too. I have tried to get my folks to give up their banks and go with a local CU as well but no luck with that so far and probably never. My step-Dad used to be a bank VP in Calif. before he retired, so he is friendly with banks. :-/

I don't know, Fredd, but I DO know that corrupt and incompetent governments always resort to idiotic stuff like this when they are in their death throes. This would be their final stage of still pretending to be "democratic" and their last acts prior to becoming complete tyrants.



Absolutely! I've known many people throughout my life and I am still waiting to meet someone who laments that they have prepared too much.