Have you done anything yet to protect yourself? Have you purchased any physical metal? Do you have any of it stored outside of the U.S.? Have you moved any paper assets outside of the U.S.? If (when) the financial border gets closed will you have access to funds if you physically were somewhere else in the world?
I wrote to you back in December that Miles Franklin has re-partnered with BFI in Switzerland. This is your opportunity to “internationalize” your investments. BFI has the relationships with foreign custodians that allow your holdings to be held outside of the U.S. This is different from having Merrill Lynch or Schwab invest in international securities for you. I am not talking about which investments you have, I am talking about where your investments are held. I believe it is imperative to have total diversification of where your investments are held because capital controls, which nearly always follow a currency crisis, will become a reality. It is just as important where you hold your investments as it is which investments that you hold.
That said, I believe it is wise to ask for your stock and bond certificates for holdings here in the U.S. This way you have no counterparty risk and if your broker goes belly up… you hold the certificates. It is the same of course with your precious metals. Do you hold ETF’s and “hope” that the metal is really there? Or are you at the opposite side of the spectrum? Do you hold all of your metal in hand? I believe it is a good idea to have a good portion of your metal vaulted overseas in a non-bank vault and just enough on hand to live on if you had to. Jim Sinclair suggests having an amount on hand that would not ruin you were it to be stolen. I agree.
Please think all of this through. Call us at 800-822-8080 and find out if we can help you with storing metal outside of the United States. We can also refer you to BFI to discuss legally moving some of your paper assets outside of the U.S. These options still currently exist. If history is any guide they will not exist as capital controls are implemented. As I’ve said many times before, prepare for the worst and hope for the best. Let us help you do this!