Offshore gold storage

Gold as an investment is a great tool for portfolio diversification. One might asked why is it good to store it abroad in offshore deposit box.

Gold confiscation

For this we have to look into history. In 1930s, president Franklyn D. Roosevelt by executive order 6102, signed on April 5, 1933, outlawed gold for American citizens in the U.S. No individual or organization could no longer poses gold. To do so it became a crime, punishable with 10 years in prison or fine up to 10.000$ or both. Government collected gold from American citizens and in exchange give them dollars (paper notes).

In addition, president Roosevelt ordered all safety deposit boxes in the country seized and searched for gold.

In Australia, in 1959, similar law allowed government to seize gold from its citizens in exchange for money (paper notes).

Hiding gold from prying eyes

If you store gold offshore, government can’t seize it for whatever reason, being it lawsuit or any kind of order. In case you get divorced and you stored your gold anonymously you get to keep it. Nobody can take it from you in stable jurisdictions like Hong Kong or Singapore.

Political and economical instability

Lets say that in your home country war takes place. Currency becomes worthless, no money, no food, no escape plan. With having gold stored abroad you have safety net and escape plan. Consider this and with owning a second passport you are safe unlike most of others.

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