I receive many messages from readers, which each day I dutifully present in the Mailbox at the bottom of my RANTS. For those of you that don’t read to the end, or realize the Mailbox exists, I suggest taking a look at it every so often. Many of the messages pose thoughtful questions, or are simply uplifting, a medium to bond in our alliance against the fiat currency cancer destroying the global economy. Perhaps my message is getting out to just 2% of the population, but many of those 2% are here, allying with Miles Franklin in its quest to convert as many as possible to the wisdom of REAL MONEY.
Of the questions I receive, by far the most common specific topic regards the potential for confiscation of government-sponsored retirement plans such as 401k, IRA, Roth, 403b, and pension programs. I have discussed at length the myths and cognitive bias that make it difficult for most to comprehend cashing out such plans early, the largest being the popular delusion that IRAs are after-tax funds when in fact they are pre-tax funds. Irrespective, many people are uncomfortable with early withdrawals, which is why Miles Franklin has always offered IRA plans capable of holding PHYSICAL Precious Metals under the custodianship of our IRA Administrator partners and our storage Depository partners.
As most readers are aware, last year Miles Franklin created an International Precious Metals Storage program located in Montreal, Quebec. Our goal was to provide secure storage of clients’ Precious Metal holdings outside the United States, and Canada was our top choice given its geographic proximity and relatively low political risk. Since our first client shipments were received at the vault in Montreal last Summer, we have experienced an extremely high level of interest, as I expected we would given the obvious benefits it provides. We even changed our pricing structure last month to a per ounce basis – as opposed to the percentage of value basis offered by much of the industry – to further differentiate from competitors, as discussed in my January 11th Canadian Bullion Storage Update.
Since commencement of the Storage Program in Canada last year, Miles Franklin’s Joel Kravitz has diligently sought an opportunity to utilize the Montreal facility for storage of Precious Metals held in IRA accounts, in addition to the U.S Depository options. Finally, he has found such a solution, although for the moment it pertains only to U.S. Silver Eagle coins. Thus, for U.S. investors interested in owning PHYSICAL silver in their IRAs housed Offshore in Canada, we are proud to announce Miles Franklin now offers that option. We will continue seeking options for holding PHYSICAL gold in Canadian-stored IRA accounts, but for now are limited to U.S. Silver Eagle coins.
If you have any questions about our Offshore Canadian international storage program, please see the Offshore Storage page of our website or contact us at 877-375-1365.