26 September 2012

Can US Govt seize Perth Mint client gold?

You may be interested in my response to this comment left in the Permanent Portfolio Discussion Forum:

"Perth is good, but I trust Australia less than Uncle Sam. ... If I put my assets in Australia, I not only need to worry about Australia's government seizing my assets in times of their need... but I also have to worry about the US State Departments ability to basically extradite the assets back (and me personally) to the United States under the guise of fraudulent transfer or tax evasion when Uncle Sam is in need."
 
It in I discuss the one occurance we have had of a request by US authorities for a client's gold to be handed over to a US court.
 
Unrelated - this is my new favourite blog Paper Money Shield who's mission is "Defending paper money from the rigorous attacks of precious metal advocates."

3 comments:

Anonymous said...

Although I am not in a position to do so, I never can understand people who buy gold on paper you buy with CASH Then TAKE POSSESSION at the time of payment, and put in a place of safety (hole in the ground, wont rust!) no one knows you have it, simple. If it is in paper form when you need it all the paper will be worth is toilet paper or to light fires to cook! There is no seven day warning for disaster war or atomic bomb or whatever to collect it, whoever has it will take and run! No police or courts.

Anonymous said...

Good one Bron, re. the Paper Money Shield. Always nice to see a contrary opinion, with a touch of Monty Python.

S Roche said...

An important and very amusing voice is added to the debate.