Tag Archives: Doug Casey

Casey Research Articles About Gold Coins For Storing Wealth Offshore

Continuing on the subject of gold and storing it offshore, I’d like to bring up two articles I recently read on the Casey Research website. Casey Research was founded by Doug Casey, an American author, publisher, and investor, who also serves as chairman of the Delray Beach, Florida-based investment research firm. Regular readers know I’ve mentioned Casey before on this blog.

Back on May 18, 2017, an article entitled “Doug Casey’s Two Top Ways to Store Wealth Abroad” appeared on CaseyResearch.com. In it, International Man Senior Editor Nick Giambruno (who I’ve also mentioned in the past) asked Casey, “What forms of savings are good candidates to take abroad?” He replied:

Everybody should own gold coins because they are money in its most basic form-something that a lot of people have forgotten. Gold is the only financial asset that’s not simultaneously somebody else’s liability. And if your gold is outside the US, it gives you another degree of insulation should the United States decide that you shouldn’t own it.

(Editor’s note: Bold added for emphasis)

“It gives you another degree of insulation should the United States decide that you shouldn’t own it.”

I would add “domestically” to the end of that statement.

More recently, a piece entitled “The Ultimate 4-Step ‘Freedom Insurance’ Plan” appeared on the Casey Research website. In the interview of Nick Giambruno by Chris Lowe, editor of Bonner & Partners’ Inner Circle, gold coins were mentioned again as “the easiest way to lessen the political risk to your savings.” From the October 3 exchange:

LOWE: What form of gold are we talking about- bullion, gold coins, ETFs?
GIAMBRUNO: Physical gold is your best option. Then you don’t have any counterparty risk. Having some gold in your possession in your home country is good. But having another stash in a foreign country is even better. You can either store it at a foreign property. Or you can store it in a non-bank safe deposit box.
LOWE: Why not a safe deposit box in a bank?
GIAMBRUNO: When President Roosevelt criminalized the possession of gold in 1933, federal agents went through bank safe deposit boxes searching for undeclared gold. Today, bank safe deposit boxes fall under the regulations and jurisdictions of banks. If there’s a bank holiday, like the one in Greece… or a bail-in like the one in Cyprus… or any event that shuts down or otherwise affects the banking industry, your bank safe deposit box is at risk. That’s not the case with non-bank vaulting and storage companies.

(Editor’s note: Bold added for emphasis)

The subject of transporting gold coins out of the United States came up in the interview. From the exchange:

LOWE: What about gold coins? Can you just hop on a plane to Colombia or Argentina with gold coins in your pocket?
GIAMBRUNO: Well, it’s a gray area. And because it’s a gray area, I wouldn’t recommend taking more than a couple of gold coins with you when traveling abroad. The average TSA agent has probably never seen a gold coin in his life. He probably wouldn’t know what it was if he found one. But, if he thought it was something suspicious, he would confiscate it and let the courts sort it out. And that’s no fun. You’d have to go to court to get your metal back, and that would involve costly legal fees. I’ve taken gold coins across numerous borders, and I haven’t had a problem. But I’ve heard horror stories. And from personal experience, I can tell you that gold coins set off the X-ray machine. So there’s a decent chance the TSA folks- or their foreign counterparts- will find them. And remember, if you take more than $10,000 of “cash” in or out of the US, you need to file a “Report of International Transportation of Currency and Monetary Instruments” with FinCEN, a branch of the Treasury Department that deals with financial “crimes.”

Giambruno ultimately concluded:

You’re better off buying coins when you’re already in your destination country. Taking gold coins with you is just too risky.

(Editor’s note: Bold added for emphasis)

Back on March 20, 2014, I blogged about transporting precious metals out of the United States to place in an overseas safe deposit box. In that post, I pointed out offshore expert Mark Nestmann discussed the process in-depth on the Financial Sense website in September 2012. His thoughts on the matter?

While it’s perfectly legal to move precious metals in or out of the United States, you must understand the reporting rules before you begin. Otherwise, your risk confiscation of your metals along with possible civil and criminal sanctions. You’re much better off paying an armored security service such as Brinks or ViaMat to transport the metals for you.

(Editor’s note: Bold added for emphasis)

You can read the two articles on the Casey Research site here and here, respectively.

By Christopher E. Hill
Offshore Safe Deposit Boxes (www.offshoresafedepositboxes.com)

(Editor’s note: The mention of a particular individual/business should not be construed as confirmation of services claimed to be provided or any sort of recommendation. A qualified professional should be consulted prior to making a financial decision based on material found in this weblog. If this recommended course of action is not pursued, then it must be understood that the decision is the reader’s and the reader’s alone. Christopher E. Hill, the creator/Editor of this blog, is not responsible for any personal liability, loss, or risk incurred as a consequence of the use and application, either directly or indirectly, of any information presented on the site.)

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Related Reading: ‘Are Governments Running Out Of Candy?’ By Jeff Thomas

Regular readers of Offshore Safe Deposit Boxes might recognize the name Jeff Thomas. I’ve mentioned him a number of times on this blog. Who is Thomas? From a short bio (hat tip Cayman Islands private vault Strategic Wealth Preservation):

Jeff Thomas is British and resides in the Caribbean. The son of an economist and historian, he learned early to be distrustful of governments as a general principle. Although he spent his career creating and developing businesses, for eight years, he penned a weekly newspaper column on the theme of limiting government. He began his study of economics around 1990, learning initially from Sir John Templeton, then Harry Schulz and Doug Casey and later others of an Austrian persuasion. He is now a regular feature writer for Casey Research’s International Man and Strategic Wealth Preservation in the Cayman Islands.

Good ol’ Harry Schulz. I used to follow him on a regular basis right before he retired while I was running Boom2Bust.com, “The Most Hated Blog On Wall Street,” from 2007 to 2010.

Anyway, I often find Jeff Thomas’ work to be insightful. Particularly a recent piece of his entitled “Are Governments Running Out of Candy?” Shared with me by the folks over at SWP, Thomas talked about a certain YouTube.com video on Doug Casey’s International Man website right after the holidays. In the three-minute production, media analyst Mark Dice “offers random people their choice of a Hershey chocolate bar or a 10 oz silver bar (Worth $150) in an experiment. You have to see what happened next!”

You can probably figure out what most of these individuals eventually choose:


“People Choose Free Candy Bar over Free 10 oz Silver Bar (Worth $150) in Experiment”
YouTube Video

Thomas observed:

Mister Dice doesn’t comment in the video as to what lesson might be learned from this, but an obvious one would be that Americans (or at least those who reside in his home town of San Diego, California) are prone to prefer instant gratification over something of substantially greater, but delayed value.

If this is his intent, he’s succeeded well in his light-hearted, but instructive video.

Since the 1950’s, much of the world has perceived Americans as being on “Easy Street,” and in recent decades, the U.S. government has fuelled American complacency through a consciousness of easy money and entitlement.

And so, Americans are often perceived by those outside the U.S. as being somewhat insulated, spoiled, naïve, and short-sighted. But, if this is true, Americans certainly aren’t alone. Much the same exists in Europe, Canada, and quite a few other countries that have, over recent decades, followed the American socio-economic model.

Trouble is, all that easy money and entitlement exists only as long as a source for the “freebies” exists…

The thing is, “freebies” don’t exist. As Thomas pointed out:

Freebies of any description must be paid for by someone

When governments hand out freebies, the cost is paid with tax revenues. And when taxes have been raised to the point that further increases would be difficult without inciting rebellion, governments generally rely on borrowing.

But, of course, borrowing, too, eventually reaches the point that it has become so great that it cannot be repaid. What then?

Invariably, economic collapse is the outcome…

Thomas noted that history repeatedly shows this to be true. He went on to declare:

Much of the world is now running out of candy. The latest version of Bread and Circuses is reaching its inevitable end…

Thought-provoking stuff. And this bit caught my attention:

Amongst the public who will be the victims, there will be three general groups…

Third will be the Preparers, those who envisioned the inevitability of the collapse of the system. They most certainly will have the skills and imagination to rebuild their lives, but, additionally, they’ll have the means with which to rebuild quickly. They will be the very few who chose the silver bar over the candy and had the wisdom to store the silver in a jurisdiction where it was not likely to be appropriated by a dying empire…

I’m guessing there are quite a few “Preparers” among this blog’s readers, who recognize the asset protection possibilities afforded by offshore safe deposit boxes.

Head on over to the International Man website here to read the entire piece- another Jeff Thomas gem. For more information about Strategic Wealth Preservation and the services they offer, you can visit their site here.

By Christopher E. Hill
Offshore Safe Deposit Boxes (www.offshoresafedepositboxes.com)

(Editor’s note: The mention of entities marketing themselves as private vaults outside the U.S. offering safe deposit boxes/lockers at a minimum should not be construed as confirmation of services claimed to be provided or any sort of recommendation. A qualified professional should be consulted prior to making a financial decision based on material found in this weblog. If this recommended course of action is not pursued, then it must be understood that the decision is the reader’s and the reader’s alone. Christopher E. Hill, the creator/Editor of this blog, is not responsible for any personal liability, loss, or risk incurred as a consequence of the use and application, either directly or indirectly, of any information presented on the site.)

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Doug Casey: ‘Get A Lot Of Your Assets Out Of The Control Of The Government That Thinks It Owns You’

Regular readers of Offshore Safe Deposit Boxes may remember me mentioning Doug Casey’s International Man before.

Who is Doug Casey?

Mr. Casey is an American author, publisher, investor, and founder/ chairman of Casey Research, an innovative investment research firm headquartered in Stowe, Vermont.

On June 30, a video featuring Casey appeared on the website of International Man (one of Casey Research’s services) which was relevant to the primary focus of this blog- asset protection outside the United States. From the interview with ReasonTV’s Nick Gillespie:

So what you’ve got to do is get a lot of your assets out of the control of the government that thinks it owns you. Because it’s treating you like a milk cow now. And as what happened in Zimbabwe and Yugoslavia shows- if they think they need to, they’ll treat you like a beef cow.


“‘America Has Ceased to Exist’: Investment Guru Doug Casey on the Coming Economic Meltdown”
YouTube Video

By Christopher E. Hill
Offshore Safe Deposit Boxes (www.offshoresafedepositboxes.com)

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Related Reading: Capital Controls Coming To The U.S.?

“This momentum is clearly not positive. It’s becoming more obvious that the US government is getting all its ducks in a row in case it ever wants to impose capital controls at some point in the future.”

-Nick Giambruno, Senior Editor of Doug Casey’s International Man, in a recent piece on capital controls coming to the U.S.

I’m back! Sorry for not posting any new material for a few weeks, but other projects and some personal matters required my attention.

On April 19, I blogged about two articles which I thought followers of Offshore Safe Deposit Boxes might be interested in reading. One was “Penning the Sheep for a Shearing- Capital Controls, Part 1,” by Nick Giambruno, Senior Editor of Doug Casey’s International Man.

Since I published that post, Giambruno has released part 2. It, too, is an insightful read where Casey’s “globetrotting protégé” argues it’s a “near inevitability” that the United States will turn to “official” capital controls down the road. Giambruno theorizes what could happen- and what readers can do about it.

Part 2 can be found on the International Man website here.

By Christopher E. Hill
Offshore Safe Deposit Boxes (www.offshoresafedepositboxes.com)

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