safe deposit boxes

Related Reading On Offshore Safe Deposit Boxes Blog

Survival And Prosperity readers may have noticed not only was this blog “rebooted” on November 1, but Offshore Safe Deposit Boxes and it’s sister site Offshore Private Vaults as well.

And right now I’m in the middle of a series of posts on OSDB about physical gold and storing it overseas.

Posts so far this week have included “Nomad Capitalist’s ‘10 Tips For Buying Gold In 2018’” and “Mark Nestmann: Offshore Your Physical Gold”.

For the remainder of the week I’ll be blogging about gold coins, carrying these out of the U.S., and a comparison of several offshore jurisdictions for storing precious metals and other valuables.

Feel free to stop on by my Offshore Safe Deposit Boxes blog should you be interested in any of this related material.

Christopher E. Hill
Editor

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Wednesday, December 6th, 2017 Commodities, Housekeeping, Investing, Precious Metals No Comments

Jewelry Investing Focus Of Town & Country Magazine Article

“Jewelry might never perform the way a real estate or an S&P fund will, but it is the best purchase you can make in the luxury sector. It’s an investment you can wear for 30 years and then sell. What else can you do that with? Do you have a suit from 1968?”

-Chris Del Gatto, jewelry expert interviewed by Town & Country

Yesterday I came across an article about jewelry investing on the website of Town & Country, the venerable monthly American lifestyle magazine. In “Is Jewelry the Last Brilliant Investment?” (published January 17), Stellene Volandes discussed “the role of stones and jewels as a new asset class” and the recent formation of Arcot Finance (“a fine gem investment firm”). She also interviewed a number of jewelry/gemstone experts.

At one point in the piece Volandes penned:

Legends of Russian and French aristocrats fleeing revolution with diamonds sewn into their hems still resonate. “I know people who want to buy some diamonds to put away. They know in uncertain times they can sell them quickly,” says jewelry expert Chris Del Gatto, whose eponymous firm specializes in buying and selling from private collections. He has bought and sold more pieces than almost anyone on the market. “They also know they can take the stones with them. You can’t do that with a building. It’s a bunker mentality.”

[Arcot Finance’s Henri] Barguirdjian certainly has experience with the idea of stones as a solid investment. Clients have asked him for lots worth $1 million for each of their grandchildren, to be stored in safe deposit boxes, knowing that they will appreciate in value. “They see it as a safe haven,” he says…

(Editor’s note: Bold added for emphasis)

An interesting article regarding this “alternative” investment, which you can read in its entirety on the Town & Country website here.

By Christopher E. Hill
Survival And Prosperity (www.survivalandprosperity.com)

(Editor’s note: 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. 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 contained herein.)

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Thursday, January 19th, 2017 Investing No Comments

Marc Faber Suggests Gold Should Make Up 25 Percent Of Portfolio

Earlier this month, I blogged about how Swiss-born investment advisor/money manager Marc Faber informed CNBC TV viewers he holds physical gold stored in safe deposit boxes.

Last Thursday, the publisher of the monthly investment newsletter The Gloom Boom & Doom Report talked more about the shiny yellow metal at a CFA Institute seminar in Chicago. Gail MarksJarvis reported on the Chicago Tribune website on July 22:

Faber told the investment professionals gathered in Chicago that they shouldn’t be prejudiced against gold. Although the typical investment pro keeps less than 1 percent of his or her portfolio in gold, Faber suggests 25 percent. He sees it as protection from a dangerous combination of tremendous government debt and massive bond-buying by central banks globally trying to fight off recession with near-zero interest rates…

(Editor’s note: Bold added for emphasis)

MarksJarvis also noted that “Doctor Doom,” as he’s often referred to by the financial news media, thinks there may be value in precious metals mining stocks.

This shouldn’t come as a surprise to regular Survival And Prosperity readers. I blogged back on May 24 about Faber’s statement the prior week to a CNBC TV audience that gold shares are one of “the most attractive assets in my view”- the others being oil and gas stocks.

By Christopher E. Hill
Survival And Prosperity (www.survivalandprosperity.com)

(Editor’s notes: Info added to “Crash Prophets” page; 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.)

Source:

MarksJarvis, Gail. “‘Gloom, Boom & Doom’ economist pushes for gold.” Chicago Tribune. 22 July 2016. (http://www.chicagotribune.com/business/columnists/ct-marksjarvis-column-marc-faber-money-doom-0724-biz-20160722-column.html). 26 July 2016.

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Marc Faber Holds Physical Gold In Safe Deposit Boxes

From Survival And Prosperity’s sister blog Offshore Safe Deposit Boxes last night:

On June 29, Swiss-born investment advisor/money manager Marc Faber appeared on the CNBC TV show Squawk Box and discussed his gold holdings. Leslie Shaffer reported:

The global economy has been weakening and could worsen ahead, but there are still a lot of market opportunities for investors, said Marc Faber, editor of the Gloom, Boom & Doom Report.

“We’re all on the Titanic, but the Titanic still has maybe a few days to travel before it collapses so we might as well enjoy the journey,” Faber, also known as Dr. Doom, told CNBC’s “Squawk Box.”

Anticipating a downtrend, Faber said he’s holding physical gold in safe-deposit boxes

(Editor’s note: Bold added for emphasis)

Regular readers of Offshore Safe Deposit Boxes know that the publisher of the monthly investment newsletter The Gloom Boom & Doom Report is a big believer in storing gold in safe deposit boxes outside the United States. Back on August 16, 2013, Dr. Faber told CNBC TV viewers:

I have a preference for physical gold held in a safe deposit box outside the United States and preferably in Asia, for a variety of reasons.

(Editor’s note: Bold added for emphasis)

By Christopher E. Hill
Survival And Prosperity (www.survivalandprosperity.com)

(Editor’s note: 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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SP Intel Report- November 9, 2015

Chicagoland

Nearly 1 Out Of 3 City Of Chicago Workers Made $100K Or More Last Year

Having lived in a northwest side neighborhood chock-full of City of Chicago employees prior to moving out to the ‘burbs, I wasn’t really surprised to learn of the following. Chris Fusco and Tim Novak reported on the Chicago Sun-Times website yesterday:

Nearly one out of every three workers on the city of Chicago payroll made $100,000 or more last year — a far higher percentage of six-figure employees than in state or Cook County government.

That’s according to a Chicago Sun-Times analysis that for the first time combines city workers’ salaries, overtime and other extra pay.

Twenty-six city workers drew paychecks that eclipsed Mayor Rahm Emanuel’s pay of $216,210, the analysis found. They included a police detective, two fire department ambulance commanders and two water department operating engineers…

(Editor’s note: Bold added for emphasis)

Fusco and Novak noted that there were 35,761 City of Chicago employees last year. And nearly 1 out of 3 made $100K or more? Nice gig if you can get it, right? Regrettably, I predict that when tough financial times finally arrive at the Windy City’s doorstep, even “clout” won’t be able to protect certain positions and salaries from getting slashed.

Cook County President Toni Preckwinkle To Tax Ammunition Sales?

Gun “control” (or gun “safety” as certain word wankers are now trying to call it) is on the march again in Cook County. From a County blog post Friday:

In an effort to reduce gun violence and improve public safety by creating new revenue for preventative actions, President Preckwinkle is also proposing a tax on rounds of ammunition sold in Cook County. The ammunition tax, either a penny or nickel per round depending on the category of ammunition, is aimed at addressing the costs of future gun crimes and the revenue generated will be dedicated to public safety initiatives.

President Preckwinkle, long an advocate of common sense gun laws, previously supported and passed a $25 tax on gun sales in Cook County. She has advocated for legislation that would ban assault weapons and high-capacity magazines, require registration of existing firearms and require background checks on all firearms sales at gun shows — commonly referred to as the “gun show loophole.”

(Editor’s note: Bold added for emphasis)

Tax law-abiding firearm owners in Cook County for the actions of criminals? Yeah, that makes a lot of “common sense.” You see, felons and other convicted criminals can’t purchase ammunition legally in Cook County, because they shouldn’t be able to get an Illinois State Police-issued Firearm Owner’s Identification Card. From the Illinois State Police, Firearm Services Bureau website:

Unless specifically exempted by statute, any Illinois resident who acquires or possesses firearms, firearm ammunition, tasers or stun guns within the State must have in their possession a valid FOID card issued in his or her name…

To be eligible for a FOID card, a person must be 21 years of age or have a parent or guardian sponsor that is eligible for a FOID card. An applicant must not be prohibited from possessing firearms in accordance with state or federal law. This requires the applicant is/has:

• Not been convicted of a felony…
• Not subject to an existing order of protection.
• Not been convicted within the past 5 years of battery, assault, aggravated assault, violation of an order of protection, or a substantially similar offense in another jurisdiction, in which a firearm was used or possessed.
• Not been convicted of domestic battery, aggravated domestic battery, or a substantially similar offense in another jurisdiction…
• Not convicted of a misdemeanor crime of domestic violence…

So what’s President Preckwinkle’s goal from a Cook County ammo tax then? My guess is gun “safety.” Something tells me we’ll be seeing the county in court if they decide to pursue this matter.

Illinois

Illinois Open Range Program To Be Held On November 14

Speaking of guns and the Illinois State Police, it’s that time of year again in the “Land of Lincoln.” From the website of central Illinois NBC affiliate WAND 17 on Friday:

The Illinois Department of Natural Resources is teaming up with Illinois State Police to promote hunting safety through the annual Open Range Program on November 14.

Officials say hunters and observers will be invited to ISP ranges in order to check the sighting in their shotguns…

Ranges in Effingham, Pawnee, Pittsfield, Macomb, Joliet, and LaSalle will be open for the program from 8 AM until 4 PM this coming Saturday. For more information, head on over to WAND 17’s website here.

International

Greece’s Government Confiscating Contents Of Bank Safe Deposit Boxes?

Last week, I was working on my offshore asset protection-related projects quite a bit. And here’s something disturbing I noted Friday in a post on Offshore Safe Deposit Boxes that may interest you:

Just when the reputation of bank safe deposit boxes couldn’t get any worse comes this out of Greece. Anthee Carasavva reported on The Times (UK) website back on October 12:

Greece’s government is raiding savers’ safe deposit boxes to raise revenue and stamp out tax evasion.

Tryfon Alexiadis, the deputy finance minister, said yesterday that Greeks owing more than €150,000 in back taxes would be targeted. Those suspected of tax evasion would also come under scrutiny and their bank deposit boxes prised open without notice

“Safe deposit boxes across the country will be subject to these inspections immediately,” Mr Alexiadis told an Athens-based TV network…

(Editor’s note: Bold added for emphasis)

It’s being reported that the tax inspectors could seize half of the cash found, and stocks, bonds, jewelry, and works of art. You can read the entire post in its entirety here on my other blog.

Christopher E. Hill
Survival And Prosperity (www.survivalandprosperity.com)

Source:

Fusco, Chris and Novak, Tim. “THE WATCHDOGS: A third of Chicago city workers make $100k or more.” Chicago Sun-Times. 7 Nov. 2015. (http://chicago.suntimes.com/news/7/71/1072015/city-haul-3-of-10-chicago-city-workers-make-100000-a-year). 8 Nov. 2015.

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Gone Blogging (About Greek Bank Safe Deposit Boxes)

Sorry about the lack of material on Survival And Prosperity this week. With the most recent flare-up of Greece’s sovereign debt crisis, I’ve been busy blogging about reports that access to cash in Greek bank safe deposit boxes has been prohibited. You can read all about it over on Offshore Safe Deposit Boxes.

New material is scheduled to be published on Survival And Prosperity tomorrow.

Thank you for your patience.

Christopher E. Hill
Editor

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Marc Faber Declares ‘I Want To Own Some Gold Because I Don’t Trust The Financial System Anymore’

Swiss-born investment advisor/money manager Marc Faber was on the Bloomberg Television show Street Smart last week. The publisher of the monthly investment newsletter The Gloom Boom & Doom Report talked with host Trish Regan about a number of financial topics, including gold. From their exchange:

REGAN: I know you have been bullish on gold for pretty much forever, Marc. But now we’re in a situation where gold is at a 4-year low. Goldman now predicting $1,050 an ounce. SocGen saying 1,000 bucks. Where do you see gold finishing the year?
FABER: I would say Goldman Sachs is very good at predicting lower prices when they want to buy something. But that aside, I would say, yes- we are down from $1,900 to $1,160 or something like this, and it’s been a miserable performance since 2011. However, from the ’99 lows we’re still up more than four times. So, I just looked at performance tables over 10 years and 15 years- gold hasn’t done that badly. Has done actually better than stocks. Now I personally, I think that we may still go lower- it’s possible, I’m not a prophet. But I’m telling you- I want to own some gold because I don’t trust the financial system anymore. I think the whole thing is going to collapse one day. And then I’ll be happy to have some assets. But of course the custody is important. I wouldn’t hold my gold at the Federal Reserve because they will lend it out. I wouldn’t hold my gold in the U.S. at all.


“More Americans ‘Can’t Afford’ to Buy Homes, Faber Says”
(Gold discussion begins at 7:30)
Bloomberg Television Video

This isn’t the first time Dr. Faber has warned about storing gold in the United States. He told CNBC’s Amanda Drury on August 16, 2013:

I have a preference for physical gold held in a safe deposit box outside the United States and preferably in Asia, for a variety of reasons.

By Christopher E. Hill
Survival And Prosperity (www.survivalandprosperity.com)

(Editor’s notes: Info added to “Crash Prophets” page; I am 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 herein.)

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