The Israel Deception

Is the return of Israel in the 20th century truly a work of God, or is it a result of a cosmic chess move to deceive the elect by the adversary?

Showing posts with label storage. Show all posts
Showing posts with label storage. Show all posts

Friday, September 30, 2016

If the rich aren't willing to store their gold in banks, then why should you trust them either?

Following the 2008 financial crisis the United States began a form a capital controls to try to keep individuals, businesses, and trusts from moving their wealth offshore.  And one of their primary controls is through a law known as FATCA, which gave the IRS a modicum of authority backed by SWIFT to find out all personal accounts and information held in foreign banks by American citizens.

But as we saw in the Panama Papers scandal earlier this year, what is meant as restrictions for 'little people' is barely a bump in the road for the elite and super wealthy who have access to alternatives that the 99% do not.  And one of these alternatives is the ability to offshore their wealth into special private vaults that are outside the touch of the U.S. government, and which may hold thousands of tons of gold outside the banking system.

For decades, Switzerland had a reputation for bank secrecy that made it the most sought after tax haven for billionaires from around the globe.  But, after more than 80 years of secrecy, a series of bilateral agreements with countries around the world, including America’s Foreign Account Tax Compliance Act (FATCA), have forced the private-banking industry in Switzerland to embrace an entirely new era of transparency that requires a full exchange of tax-relevant information with more than a hundred countries. 
Which, as Bloomberg points out, has been a huge boon for Swiss operators of private vaults which are not subject to the same transparency and reporting requirements as banks.  In fact, these super-secret, privately operated storage facilities buried around the Swiss Alps can basically store anything from anybody because they're not even required to report suspicious activity to Switzerland's Money Laundering Reporting Office.  
“There is growth in gold,” Wipfli says. “Since 2008 there has been a real interest in alternatives to bank deposits.” The company explicitly taps into that demand. Swiss Data Safe “is independent from the banking system and any other organization or interest group,” according to a PowerPoint presentation Wipfli shows clients. The company and its anonymous rival aren’t regulated by the Swiss financial-services regulator Finma. 
Nor do such companies have to report suspicious activity to Switzerland’s Money Laundering Reporting Office.In the past, submissions to the agency have led the Swiss attorney general to open investigations into corruption at FIFA, the global soccer body, and banking ties to Brazil’s Petrobras bribery scandal. 
Moreover, American citizens aren’t required under FATCA to declare gold stored outside of financial institutions either.  So perhaps it's no surprise that, according to the Swiss defense department, of the roughly 1,000 former military bunkers still in existence across Switzerland, several hundred of them have been sold to private individuals who are now operating them as private storage sites for the gold stash of the world's wealthiest of billionaires. - Zerohedge
The elites know that they cannot trust holding their wealth in a bank, and often go to extraordinary lengths to ensure it remains outside the hands of governments, regulators, and law enforcement.  So if the rich do not trust the banks to hold their money and assets, then why should you?

Wednesday, September 7, 2016

Be very careful in how you setup your gold IRA because the IRS is watching you

As the price of gold begins its newest leg of a long running Bull Market, an interesting investment plan has emerged which allows individuals to cash out their equity based 401K's and transfer the cash tax free (for the moment) into a gold IRA that is not only backed by physical metal, but can be located within reach.

Many companies that are offering these plans also state that you can setup the account in such a way that you can actually hold the metals in your possession as long as they are separate from any other income or wealth you control.

But this addendum to the gold IRA is not completely accurate, and the IRS is now on watch for anyone who does not follow the process to the letter, and attempts to keep their gold or silver 'at home' and not in a regulated storage location.
Image result for gold if you don't hold it you don't own it
The Internal Revenue Service isn’t too keen on the recent advertisements suggesting retirement savers store their tax-free individual retirement account funds in gold at their house or in safety-deposit boxes, the Wall Street Journal writes. 
Storing Gold at Home: Legal, But with Caveats 
The statement from the IRS comes in response to a number of ads online and on the radio, such as one from Hartford Gold Group, suggesting investors can avoid stock market turbulence by investing IRA accounts in gold coins and bullion they can store where they like, including their home, according to the Journal. 
But the law on such practices is cloudy, the publication writes. 
For example, IRA assets can’t be stored in collectibles such as antiques, gems, artworks or wine, according to the Journal. On the other hand, it’s legal to keep IRA investments in coins and bullion-quality bars in metals such as gold, silver and platinum, the publication writes. 
But few IRA investment providers offer the option — Vanguard and Charles Schwab don’t allows their clients to invest IRAs in physical metals, according to the Journal. 
The IRS may be taking issue with just how difficult and expensive investing in physical gold could end up for the investor. Fidelity, which allows IRA investing in some coins and bullion, charges up to 2.9% to buy and 2% to sell the assets, and a further 0.125% quarterly storage fee, the publication writes. 
And keeping the gold at home is not an option: out of tax compliance considerations, Fidelity requires physical metals to be stored at a qualified facility and doesn’t let IRA investors take the gold out or even view it without notification from the IRA custodian, the Journal writes. 
Proponents of store-at-home gold say that IRA owners can legally keep their gold in a safe-deposit box or at home if they are the owners and managers of a limited-liability company that uses the funds from the IRA to obtain the gold, according to the publication. 
Some attorney says this structure would allow investors to store coins owned by the LLC at home — but for bullion, they would still have to store it in an LLC-owned safety-deposit box, the Journal writes. 
Home storage can get pricy, too: one professional whose company provides paperwork for at-home storage of IRA gold charges $400 to $1,200 to set up such an LLC, according to the publication. 
And because the issue of LLC ownership by IRA has no legal precedent, companies advertising home storage of IRA gold are careful to note that they don’t provide legal advice, the Journal writes. - Wall Street Journal