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1 people online in the last 1 minutes - 0 members, 0 anon and 1 guests. (Most ever was 29 at 13:36:32 Sat Aug 3 2002)

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eightymesh
13:18:22 Wed
Apr 20 2011

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waddya mean you dont have it .......?


Be forewarned and forearmed.


Don’t trust paper promises. When the s--- hits the fan, the fiduciaries will not deliver. They can’t deliver now. They won’t deliver then.

Precious Metals Storage Scam: ‘Sorry, Delivery Is Not Possible’





http://www.pacificrimcoins.com/pacrim/content/precious-metals-storage-scam-%E2%80%98sorry-delivery-not-possible

  
kaveman
15:17:22 Wed
Apr 20 2011

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Re: waddya mean you dont have it .......?

I'm frightened that anyone would be surprised at this.

  
baub
16:54:05 Wed
Apr 20 2011

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Re: waddya mean you dont have it .......?

Thanks 80,

b

  
Muley
04:22:45 Thu
Apr 21 2011

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Re: waddya mean you dont have it .......?

I have a question, I self direct my own SEP-IRA, How do I protect or take delivery of my precious matal holding's? Without having to cash out and have to pay the taxes and penalties.

Even in the article (under the IRA tab) if you follow thier recommended company all you get is a piece of paper showing your holdings and a piece of paper saying that you are insured, bottomline you all you have is paper and a bill for thier services, more paper.

  
Traveller11
17:00:54 Thu
Apr 21 2011

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Re: waddya mean you dont have it .......?

The ETF funds do not have to produce the physical metals (rumor has it each oz. of silver and gold they have is sold on paper 1000x over) on the delivery date. They have the option of paying cash.
That being said, the rising price of PM's will have the same devastating effect on Wall St. when delivery date arrives.
Oh well, no problem; here comes Ben Bernahnke with QE3, QE4, QE5, ad nauseum.....print that dollar 'til we all have to go grocery shopping with a wheelbarrow full of $1000 bills.
Regards
Bob

  
Agent_34
17:21:53 Thu
Apr 21 2011

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Re: waddya mean you dont have it .......?

Muley, if I were in your position, I would probably cash out NOW. Take the ~10% tax penalty hit and pay the taxes, but get your savings in physical, hold in your hand, precious metals (and useful tangable items/food). You probably will pay taxes at a higher rate since it will boost your income for the year. But, it is probably a pretty sure bet that the powers-that-be will try to raise taxes rates in the future anyway. By keeping your "wealth" in paper you run the risk of never seeing it or at least not much of it. As it is, right now, you may have more trouble than you anticipate getting your hands on the metal you supposedly own. From what I understand, physical supplies are tight-at least in silver. For what it's worth...

  

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