Thanks for sharing. I second the TrueCrypt/Dropbox idea - that's precisely what I do. I also created a separate Dropbox folder which I shared with my wife's Dropbox account. Keeping a copy in Google Drive can serve as an extra degree of diversification.Pointedstick wrote:http://theplacewithnoname.com/blogs/kle ... /0006.htmlsmurff wrote: For starters I'd make copies (paper and electronic) of important documents, exemplars of financial statements, a selection of family photos, heirloom paperwork (grampa's army discharge papers, for example)--just take it all to your local drugstore and duplicate it, then scan it all on files. Spread the copies around to other family members. Keep some in disaster-resistant safe deposit boxes.
For the more tech-savvy, I recommend scanning everything important, storing it on an encrypted truecrypt volume, and keeping copies of the truecrypt archive on your computer, in Dropbox, and on a flash drive you carry around with you.
Storing physical gold
Moderator: Global Moderator
Re: Storing physical gold
"Let every man divide his money into three parts, and invest a third in land, a third in business, and a third let him keep in reserve."
- Talmud
- Talmud
Re: Storing physical gold
Since Superstorm Sandy, I have discovered that my safe deposit box was moved to a safer location. I have been contacted by the bank and must make an appointment to pick up the contents. I would second the thought that one's physical assets be held in disaster-free locations, as much as that is possible.
Re: Storing physical gold
That's interesting. I wonder if they removed them one box at a time, or if they removed entire panels (or even the entire vault).
Re: Storing physical gold
I'll try to find out when I go there.
Re: Storing physical gold
I honestly do not understand the reservations against hiding some portion of the PP-Gold as physical coins at home. If packaged the right way, damage by nature can be minimized as can be probability of theft. They take gold coins from the bottom of the sea, so flooding should be no problem and fire should not be either - if packaged the right way, because gold melts already at quite low temperatures. Of course no one close should know that/where you have gold at home, not even relatives!
I see the physical @home gold as an insurance against SHTF and the government running mad. There will be a day when they will force you to give up some of your gold again! If that is because of forced selling/ban (1933 anyone?), straight-out confiscations, high taxes on gold, high taxes on property or whatever, does not really matter. Hidden, unaccounted gold can even be a safety buffer in case of personal bankruptcy.
In today's hyper-accounted world, a bank safe deposit box will not really be safe against these types of events. And the offshore one may be out of reach without the resources to get there in times of crises! Of course in case of larger sums of gold in a large PP, only a small portion should be physical @home hidden gold and silver. Probably 1-2 months in your current living expenses in silver (for buying your food on the black market when your local army is patrolling the streets) and 1-2 years in gold is a good portion. That should be enough to cover times of trouble or fleeing to another country. Human traffickers will surely also accept gold. Optionally, the gold&silver can be supplemented by a few diamonds for these types of events.
The rest can be split onto off-shore bank deposits holding physical gold as another line of defense and physical ETFs (ETCS) for easy rebalancing in the PP.
If your PP holds more than 20 years of your living expenses, the off-shore bank deposit becomes really interesting, also holding several years worth of living expenses in physical gold. Enough, to start a new life anywhere in times of crises. Remember how the gold they brought, helped some Vietnamese boat people to really take off in their new lives (together with some hard work, of course)?
So my suggestion for the gold part in the PP:
1-2 yearly expenses as physical bullion @home (with ~8% as silver bullion, preferably many small coins; also diamonds if you are really wealthy)
The rest should be split 50/50 as physical bullion @offshore deposits (e.g. Switzerland, Norway or Singapore) and physical ETFs.
It is this secondary function of gold, I like to much in the PP. To really exploit it fully, you have to distribute it strategically, too.
I see the physical @home gold as an insurance against SHTF and the government running mad. There will be a day when they will force you to give up some of your gold again! If that is because of forced selling/ban (1933 anyone?), straight-out confiscations, high taxes on gold, high taxes on property or whatever, does not really matter. Hidden, unaccounted gold can even be a safety buffer in case of personal bankruptcy.
In today's hyper-accounted world, a bank safe deposit box will not really be safe against these types of events. And the offshore one may be out of reach without the resources to get there in times of crises! Of course in case of larger sums of gold in a large PP, only a small portion should be physical @home hidden gold and silver. Probably 1-2 months in your current living expenses in silver (for buying your food on the black market when your local army is patrolling the streets) and 1-2 years in gold is a good portion. That should be enough to cover times of trouble or fleeing to another country. Human traffickers will surely also accept gold. Optionally, the gold&silver can be supplemented by a few diamonds for these types of events.
The rest can be split onto off-shore bank deposits holding physical gold as another line of defense and physical ETFs (ETCS) for easy rebalancing in the PP.
If your PP holds more than 20 years of your living expenses, the off-shore bank deposit becomes really interesting, also holding several years worth of living expenses in physical gold. Enough, to start a new life anywhere in times of crises. Remember how the gold they brought, helped some Vietnamese boat people to really take off in their new lives (together with some hard work, of course)?
So my suggestion for the gold part in the PP:
1-2 yearly expenses as physical bullion @home (with ~8% as silver bullion, preferably many small coins; also diamonds if you are really wealthy)
The rest should be split 50/50 as physical bullion @offshore deposits (e.g. Switzerland, Norway or Singapore) and physical ETFs.
It is this secondary function of gold, I like to much in the PP. To really exploit it fully, you have to distribute it strategically, too.
Re: Storing physical gold
I could not agree more with dkalder.