GOLDBUG: In your back yard; not your IRA or 401k

http://dumpdc.wordpress.com/2010/05/30/put-gold-and-silver-in-your-ira-or-401k/

Put Gold and Silver In Your IRA or 401k

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“It’s called the American Dream because you have to be asleep to believe it.” George Carlin

In my opinion, any consideration about investment income right now is a big mistake. Your NUMBER ONE CONCERN should be protecting the purchasing power of your money.

Buy gold and silver coins and keep them in a safe at your home. Then, with your retirement accounts, transfer your positions in money markets, bonds, mutual funds and stocks into gold and silver.

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I’m not sure how viable IRAs and 401ks are in the scenario where gold and silver makes sense. The politicians can “seize” the accounts via the “custodians” and you are screwed. You know that in a hyperinflation scenario that the gooferment will be desperate for funding. In even a moderate inflation, a la Carter of the 80’s, the metal in your IRA won’t help you. And, you must always remember the FDR seizure of gold.

I think 5-15% metal holding is appropriate in today’s economic climate.

BUT, BUTT (there’s always a big but), that metal is in one ounce rounds in your physical possession.

Despite Milton Freedman’s “People must work hard to dig gold out of the ground in South Africa – in order to rebury it in Fort Knox or some similar place.”, better buried in your back yard than in OHB44’s spending plan.

imho!

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