Your Money is Naked: Five Reasons To Store Some Gold Outside Your Home Country—and Where to Do So
-Jeff Clark, TheGoldAdvisor.com
How safe is your money?
I’m not talking about your portfolio’s performance. I’m referring to its accessibility, its privacy, but most importantly, how vulnerable it is to other entities getting access to it, restricting it, or even confiscating it.
Did you know that more bank branches closed during Covid than in the previous recession? Many banks around the world closed during the Great Financial Crisis, too. Cyprus was the most notorious example: withdrawals were banned, closures lasted weeks, withdraws were severely limited when they did reopen, and transferring money out of country was forbidden. And they were considered a world class banking country!
- Whenever there’s a crisis, banks are not on your side. Neither are governments—they may say they are, but your money could be part of their “solution.”
You need a plan to get through crises, when your money is at its most vulnerable.
But it’s about more than the banking system…
Political Insurance
The whole idea behind international diversification with gold is that no one government has total control over your financial options. It allows you to escape the whims of a single governing electorate. It frees you from
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