10 Things We Can Learn From Egypt About Preparing for Economic and Societal Collapse
by Mac Slavo
As riots spread across the world, having started first in Europe and now engulfing the Middle East, most people in the U.S. outright reject the possibility that the same could happen right here at home. But the fact of the matter is that we remain in economic crisis and there is a real possibility of a total collapse of the system we have come to know.
If the system does happen to collapse, be it because of a hyperinflationary currency meltdown, political uprising or anything in between, here are ten things you can expect to happen, just as they are happening in the Middle East today:
1. There will be a general breakdown in law and order. Law enforcement will not be policing your neighborhood. This will likely lead to a community response and vigilante groups setting up neighborhood security details. The law and justice will be determined by those walking your streets with sticks and guns, so be sure to mind your P's and Q's.
2. Food and water will become scarce. The average American has about three days worth of food in their home, and likely very little water, as most are dependent on their local city for this essential commodity. As with any major disaster, like hurricanes or earthquakes, panicked people will immediately make a run for the grocery store, either before or at the onset of crisis, looking to acquire any non-perishable goods. They'll buy everything they can in one trip, which leaves less food for the next guy. Our just-in-time inventory management systems ensure that there will be no reserves in the back of the grocery store, so once the store shelves are cleared, it will be a while before they are restocked.
3. Looting will be rampant. Until all of the food, water, diapers and HDTV's have been cleared from store shelves, looters will be breaking into retail businesses in search of goods. In Egypt, most of the population is not armed. In the U.S., however, it's a different story and the general rule on looters is: shoot them. Regardless of whether you are trying to acquire food for your baby or a free Xbox, you will be considered a looter if you enter a private business.
4. If the rioting and looting gets bad enough, expect full deployment by the military. As we are currently seeing in Egypt, and like we saw in New Orleans during the Hurricane Katrina saga, government is prepared to restore order by whatever means are available. There will be heavily armed soldiers, tanks and unmanned aerial vehicles patrolling your city.
5. When rocks start getting thrown, Molotov cocktails start exploding, and citizens take it upon themselves to shoot at military and law enforcement personnel, soldiers will fire back – and the firing will be indiscriminate, just like we've seen in Egypt and during the Iranian riots of 2009. One report out of Egypt indicates that President Mubarak of Egypt has issued shoot-to-kill orders giving the military authority to open fire on anyone it deems a threat.
6. Hospitals will run out of basic medical supplies. We saw this in Haiti and we're seeing it in Cairo. As the injured and wounded stack up, medical personnel will be overwhelmed. Basic medicines like hydrogen peroxide and antibiotics will disappear, and minor injuries may lead to amputation or death in a matter of days if supplies are not restocked. As more dead bodies stack up, this could potentially lead to widespread outbreaks of disease like it did in Haiti.
7. The internet will get shut down. Governments have realized that the internet is the communication medium of choice to organize protests and riots. When Iranians protested their Presidential elections in 2009, Twitter and other social networking sites were used to organize, as well as to broadcast pictures of the events in near real-time. This gives the government ample reason to shut down all digital means of communication, the most important being that government is unable to stop mass gatherings, nor are they able to control the news propaganda of the event itself. Egypt is the first country to have taken steps to completely shutdown everything from traditional internet connectivity via ISPs, as well as phone and text communications. Expect the same in your neck of the woods if and when it hits the fan.
8. Banks will be closed and ATM's will be out of money. With no law enforcement, banks will be unable to operate. There will be no one to refill the cash in ATM's, and it's possible that even if they do have money you will not be able to withdraw it because problems with electronic processing will prevent it. Those who don't have cash or barterable goods on them will be left with no way to transact.
9. The real value of gold and silver against most other assets will rise. Though only anecdotal reports exist at this time from the streets of Egypt, it's clear that anytime governmental, economic or social instability hits a particular region, the value of these precious metals rises. The 2010 riots in Greece prove this point, as the price of gold on the street rose to a reported $1700 per ounce, even while gold in global commodity exchanges was trading at $1100. When there are no open banks or working ATM's, precious metals will become the de facto reserve currency on the ground.
10. The ‘important' people will probably get the heck out of Dodge. If you've got money and power, you're going to be fast-tracked out of the region. President Mubarak's sons quickly fled Egypt when the riots broke out. In Tunisia, the President's wife made a beeline for the nearest international destination – with a ton of gold in tow. While the elite will have access to evacuate a disintegrating regional riot or collapse, everyday folks will likely be stranded. Expect that wherever you are when it hits the fan is where you'll stay, so be sure to be stocked up on the essentials.
Reprinted from SHTF Plan.
Wednesday, February 2, 2011
Monday, January 24, 2011
Will your car be ready??
When talking about emergency preparedness and survival, your vehicle is your ticket Out of Dodge if you decide that ‘Bugging In’ is not your first choice of options. There are a number of good tips that can help keep you and your family safe as you navigate your way out of an urban disaster area.
1. Keep your vehicle gassed up and ready to go. Try and maintain your vehicle at a minimum of ¾ of a tank. Whenever it drops below that it’s an easy and quick stop at the gas station to fill it back up. Consider that in a TEOTWAWKI or SHTF situation where everyone is trying to get away from the urban disaster, the lines at the gas station may be long if the gas stations are even open at all. It could be total chaos and if you are spending time trying to procure resources (such as fuel) that are in high demand instead of putting distance between yourself and the city (if that is the most desired course of action for you and your family), then you will have a much more difficult time escaping. (Check out this product that you can keep safely in your car – Spare Fuel)
2. Keep your doors locked. This is a good rule of thumb whether you are parked (to avoid unwanted visitors waiting inside when you are not in your vehicle) or whether you are driving. If you are stuck in any type of traffic or situation where you are moving slowly and the door flies open with someone wanting to help themselves to a ride or more, it adds whole new level of complication to your escape plan. There are also products out there to make your car less vulnerable to thieves and assaults, for example VehicleGard Glass Film Protection helps to fortify your car windows from attack.
3. Plan multiple routes. There are no guarantees that the most direct, main road out of town will be the open. This could be due to roadblocks or just congestion caused by everyone trying to go the same way to get away from danger. Having at least two or three alternative routes to get out of the area could pay huge dividends when time is critical. Also, make sure you have a good Road Atlas, do not just rely on your GPS, always have a backup. Remember – "Two is one, One is none". Also see "3 Maps That Should Be in Your Survival Gear"
4. Work as a team. If your wife, husband, children, parents, roommates or friends are part of your bug-out plan and you are planning to take them with you (no judgment here), figure out who is better skilled at driving and who is better at navigation. The more efficiently you can operate a vehicle in the direction you need to go, the better off everyone will be. Even those sitting in the back seats can help with keeping an eye out for danger, threats or other items of interest. Obviously having a bunch of people shouting at once is counterproductive to the driver and navigator doing their job. Some good guidance to brief your passengers is, if a threat is identified by them they call out:
A. Direction (threat in relation to the vehicle – front/ left side/right side/back or clock positions in relation to the vehicle with 12 o’clock being straight ahead)
B. Distance (distance of threat or object of interest from the vehicle)
C. Description (what does it appear to be)
Once this information is relayed to the driver and navigator in the front and they acknowledge, they can either choose to deal with it immediately or tell the passenger(s) who identified it to keep monitoring and report any changes. There are a number of options and procedures you can use to work efficiently as a team and make sure to get to you destination. It’s important to identify what will work best for you and the people you may be traveling with, to make sure you can help each other and communicate clearly without causing confusion to the driver and navigator.
5. Maintain your vehicle. This may seem obvious but in the rush of our daily lives sometimes things get pushed to the side, forgotten or procrastinated until the last minute. Make sure you keep your oil changed, tires properly inflated, brakes in good working order, lights (headlights, high-beams, fog lights if you have them, turn signals, brake lights, tail lights etc) inspected and maintained. If there are any mechanical issues that you suspect could be a problem, try to address them early and get them taken care of immediately. You never know when disaster could strike and trying to fix your vehicle when you should be driving it, could cost you valuable time when you can’t afford to be sitting in place. In addition to keeping a survival kit in your car, also keep an emergency car tool kit.
6. Keep an emergency survival kit in your vehicle. How robust this kit will be for your particular vehicle may depend on several factors. We have included a more robust kit below for you to check out. You may want some or all of these items or none at all depending on the vehicle you drive, geographic location, bug out location that you will be traveling to, and whether you will have the option to travel on unimproved surfaces to get there.
Ideas for your Emergency Survival Car Kit
(Modify as needed)
* Air pump/compressor
* Axe
* Blanket
* Bow saw
* Bucket
* Bungee cords
* Can opener
* Candles
* Cell phone and/or CB (Note: steel whip CB antennas can be dangerous out on the trail)
* Cigarette lighter
* Coat hanger – don’t underestimate the number of uses for the common household coat hanger!
* Compass/GPS unit (remove GPS below)
* Duct tape
* Emergency Bivvy
* Extra motor oil (1-2 quarts)
* Fire extinguisher
* First aid kit (packed in a tight weatherproof container)
* Flares
* Flashlight/lantern
* Flashlight/lantern/spotlight – with extra batteries
* Food (dehydrated foods take little space and last a long time)
* Hydraulic/hi-lift jack
* ID card, with emergency phone number contact info & medication/allergy information
* Jumper cables
* Leather gloves
* Maps
* Mirror (in addition to what is mounted on your vehicle)
* Multi-fit hose and a roll of rubber-weld tape – to repair a blown radiator hose
* Paper towels
* Pen & paper (a china marker writes on anything!)
* Radiator Stop Leak / Tank sealant putty
* Rags
* Repair manual for your particular vehicle
* Rope
* Rubber gloves
* Shovel
* Spare clothes
* Spare Fuel
* Spare key kept on your person
* Survival Knife
* T-style lug wrench
* Tarp (6'x6') – to keep yourself out of the mud and to catch small parts
* Tire pressure gauge & tire pump; fix a flat
* Trash bags – heavy duty
* Water – enough for you (to drink, clean up) and your vehicle (battery, radiator, washer fluid)
* Waterless hand cleaner
* Waterproof matches
* WD-40/lubricant
* Whistle
* Winch kit – including straps, snatch block (pulley), shackle
* Zip ties/cable ties
* Wood or similar to provide a foundation for jack on soft surfaces
The most important factor in any disaster situation is to have a plan and include others that will be involved in helping to develop and accomplish the goals of that plan. If you have other tips that you’d like to offer readers, please comment below. Remember that the more people who are ready for survival when and if the time comes, the better off everyone will be.
From SurvivalCache
1. Keep your vehicle gassed up and ready to go. Try and maintain your vehicle at a minimum of ¾ of a tank. Whenever it drops below that it’s an easy and quick stop at the gas station to fill it back up. Consider that in a TEOTWAWKI or SHTF situation where everyone is trying to get away from the urban disaster, the lines at the gas station may be long if the gas stations are even open at all. It could be total chaos and if you are spending time trying to procure resources (such as fuel) that are in high demand instead of putting distance between yourself and the city (if that is the most desired course of action for you and your family), then you will have a much more difficult time escaping. (Check out this product that you can keep safely in your car – Spare Fuel)
2. Keep your doors locked. This is a good rule of thumb whether you are parked (to avoid unwanted visitors waiting inside when you are not in your vehicle) or whether you are driving. If you are stuck in any type of traffic or situation where you are moving slowly and the door flies open with someone wanting to help themselves to a ride or more, it adds whole new level of complication to your escape plan. There are also products out there to make your car less vulnerable to thieves and assaults, for example VehicleGard Glass Film Protection helps to fortify your car windows from attack.
3. Plan multiple routes. There are no guarantees that the most direct, main road out of town will be the open. This could be due to roadblocks or just congestion caused by everyone trying to go the same way to get away from danger. Having at least two or three alternative routes to get out of the area could pay huge dividends when time is critical. Also, make sure you have a good Road Atlas, do not just rely on your GPS, always have a backup. Remember – "Two is one, One is none". Also see "3 Maps That Should Be in Your Survival Gear"
4. Work as a team. If your wife, husband, children, parents, roommates or friends are part of your bug-out plan and you are planning to take them with you (no judgment here), figure out who is better skilled at driving and who is better at navigation. The more efficiently you can operate a vehicle in the direction you need to go, the better off everyone will be. Even those sitting in the back seats can help with keeping an eye out for danger, threats or other items of interest. Obviously having a bunch of people shouting at once is counterproductive to the driver and navigator doing their job. Some good guidance to brief your passengers is, if a threat is identified by them they call out:
A. Direction (threat in relation to the vehicle – front/ left side/right side/back or clock positions in relation to the vehicle with 12 o’clock being straight ahead)
B. Distance (distance of threat or object of interest from the vehicle)
C. Description (what does it appear to be)
Once this information is relayed to the driver and navigator in the front and they acknowledge, they can either choose to deal with it immediately or tell the passenger(s) who identified it to keep monitoring and report any changes. There are a number of options and procedures you can use to work efficiently as a team and make sure to get to you destination. It’s important to identify what will work best for you and the people you may be traveling with, to make sure you can help each other and communicate clearly without causing confusion to the driver and navigator.
5. Maintain your vehicle. This may seem obvious but in the rush of our daily lives sometimes things get pushed to the side, forgotten or procrastinated until the last minute. Make sure you keep your oil changed, tires properly inflated, brakes in good working order, lights (headlights, high-beams, fog lights if you have them, turn signals, brake lights, tail lights etc) inspected and maintained. If there are any mechanical issues that you suspect could be a problem, try to address them early and get them taken care of immediately. You never know when disaster could strike and trying to fix your vehicle when you should be driving it, could cost you valuable time when you can’t afford to be sitting in place. In addition to keeping a survival kit in your car, also keep an emergency car tool kit.
6. Keep an emergency survival kit in your vehicle. How robust this kit will be for your particular vehicle may depend on several factors. We have included a more robust kit below for you to check out. You may want some or all of these items or none at all depending on the vehicle you drive, geographic location, bug out location that you will be traveling to, and whether you will have the option to travel on unimproved surfaces to get there.
Ideas for your Emergency Survival Car Kit
(Modify as needed)
* Air pump/compressor
* Axe
* Blanket
* Bow saw
* Bucket
* Bungee cords
* Can opener
* Candles
* Cell phone and/or CB (Note: steel whip CB antennas can be dangerous out on the trail)
* Cigarette lighter
* Coat hanger – don’t underestimate the number of uses for the common household coat hanger!
* Compass/GPS unit (remove GPS below)
* Duct tape
* Emergency Bivvy
* Extra motor oil (1-2 quarts)
* Fire extinguisher
* First aid kit (packed in a tight weatherproof container)
* Flares
* Flashlight/lantern
* Flashlight/lantern/spotlight – with extra batteries
* Food (dehydrated foods take little space and last a long time)
* Hydraulic/hi-lift jack
* ID card, with emergency phone number contact info & medication/allergy information
* Jumper cables
* Leather gloves
* Maps
* Mirror (in addition to what is mounted on your vehicle)
* Multi-fit hose and a roll of rubber-weld tape – to repair a blown radiator hose
* Paper towels
* Pen & paper (a china marker writes on anything!)
* Radiator Stop Leak / Tank sealant putty
* Rags
* Repair manual for your particular vehicle
* Rope
* Rubber gloves
* Shovel
* Spare clothes
* Spare Fuel
* Spare key kept on your person
* Survival Knife
* T-style lug wrench
* Tarp (6'x6') – to keep yourself out of the mud and to catch small parts
* Tire pressure gauge & tire pump; fix a flat
* Trash bags – heavy duty
* Water – enough for you (to drink, clean up) and your vehicle (battery, radiator, washer fluid)
* Waterless hand cleaner
* Waterproof matches
* WD-40/lubricant
* Whistle
* Winch kit – including straps, snatch block (pulley), shackle
* Zip ties/cable ties
* Wood or similar to provide a foundation for jack on soft surfaces
The most important factor in any disaster situation is to have a plan and include others that will be involved in helping to develop and accomplish the goals of that plan. If you have other tips that you’d like to offer readers, please comment below. Remember that the more people who are ready for survival when and if the time comes, the better off everyone will be.
From SurvivalCache
Friday, January 7, 2011
How to Fill a Bug Out Bag
A bug out bag is a bag, or backpack, that you can grab in an emergency. If you have to unexpectedly leave your home, for several days, one of these bags, loaded with essential supplies, is a great item to take with you. Although you can personalize the items in your bug out bag, there are some basics that everyone should include in theirs.
Start with a sturdy backpack. A backpack is the easiest way to store a large amount of supplies in a way that is convenient to grab quickly and carry easily during an emergency. A high quality pack will ensure that your gear stays protected.
Roll up a hooded sweater or fleece jacket and tuck in the bottom of your bag. A sweater or jacket will keep you warm, and a hood is essential for retaining your body heat, or to use as a pillow if you end up sleeping on the ground. A space blanket is also a good addition for keeping warm on cold days or nights.
Tuck in a small tent. If a situation calls for you to use your bug out bag, you may need to sleep outside for several nights. Even a small pup tent will provide adequate shelter during inclement weather.
Include matches and a lighter. Store your matches in a waterproof container and add a lighter to your bag. Soak cotton balls in lighter fluid and pack them in a zip close plastic bag, these will help you start a fire, even in wet weather.
Food Supplies
Feed yourself. Whether you choose freeze-dried camping food or military MREs, you need to include food in your bug out bag. If you use military MREs, you can manage on one MRE per day. Pack three day's worth of food in your bag.
Include plenty of water. You will need to bring a minimum of one quart of water per person per day; plan for at least three days. Include a portable water filter and water purification tablets in your pack so you can replenish your supply when necessary.
Pack a fish hook or two and some fishing line in a small tin container or empty film canister. You can usually find a worm or an insect to use as bait, allowing you the option of adding some fresh fish to your diet.
Add a knife, a small camp stove and a metal mug or pot. These will help in all of your meal preparations.
Supplies to Keep You Comfortable
Add a set of clean underwear. If you have to rough it for several days, nothing feels better than changing your underwear. This will take up very little space in your bug out bag and be good for your morale.
Include personal hygiene items. You will need to bring a travel-sized toothbrush and toothpaste, soap in a water-tight container, toilet paper and hand sanitizer.
Add some cold hard cash to your bug out bag supplies. Generally, cash is advised to have because, during many emergency situations, ATMs and banks are not working/or open.
Stock a well-supplied first aid kit and keep in your bug out bag. Your kit should include latex gloves, sterile dressings, antibiotic ointment, burn ointment, adhesive bandages, a thermometer, your prescription medications and any medical supplies you use on a regular basis.
Add a flashlight, a small radio and extra batteries to your bug out bag and you are now ready for any emergency.
Start with a sturdy backpack. A backpack is the easiest way to store a large amount of supplies in a way that is convenient to grab quickly and carry easily during an emergency. A high quality pack will ensure that your gear stays protected.
Roll up a hooded sweater or fleece jacket and tuck in the bottom of your bag. A sweater or jacket will keep you warm, and a hood is essential for retaining your body heat, or to use as a pillow if you end up sleeping on the ground. A space blanket is also a good addition for keeping warm on cold days or nights.
Tuck in a small tent. If a situation calls for you to use your bug out bag, you may need to sleep outside for several nights. Even a small pup tent will provide adequate shelter during inclement weather.
Include matches and a lighter. Store your matches in a waterproof container and add a lighter to your bag. Soak cotton balls in lighter fluid and pack them in a zip close plastic bag, these will help you start a fire, even in wet weather.
Food Supplies
Feed yourself. Whether you choose freeze-dried camping food or military MREs, you need to include food in your bug out bag. If you use military MREs, you can manage on one MRE per day. Pack three day's worth of food in your bag.
Include plenty of water. You will need to bring a minimum of one quart of water per person per day; plan for at least three days. Include a portable water filter and water purification tablets in your pack so you can replenish your supply when necessary.
Pack a fish hook or two and some fishing line in a small tin container or empty film canister. You can usually find a worm or an insect to use as bait, allowing you the option of adding some fresh fish to your diet.
Add a knife, a small camp stove and a metal mug or pot. These will help in all of your meal preparations.
Supplies to Keep You Comfortable
Add a set of clean underwear. If you have to rough it for several days, nothing feels better than changing your underwear. This will take up very little space in your bug out bag and be good for your morale.
Include personal hygiene items. You will need to bring a travel-sized toothbrush and toothpaste, soap in a water-tight container, toilet paper and hand sanitizer.
Add some cold hard cash to your bug out bag supplies. Generally, cash is advised to have because, during many emergency situations, ATMs and banks are not working/or open.
Stock a well-supplied first aid kit and keep in your bug out bag. Your kit should include latex gloves, sterile dressings, antibiotic ointment, burn ointment, adhesive bandages, a thermometer, your prescription medications and any medical supplies you use on a regular basis.
Add a flashlight, a small radio and extra batteries to your bug out bag and you are now ready for any emergency.
Saturday, January 1, 2011
Buy Gold and Silver
During tough economic times, many people turn to gold and silver bullion as an investment. Gold tends to increase in price when the economy is doing poorly. Gold bullion is often a long-term investment. Families hand it down from generation to generation.
Decide what kind of bullion you want. The most popular form of bullion is one-ounce coins. They are the easiest to buy and sell because every coin and bullion dealer uses them. One-ounce bullion coins are issued by government mints around the world. The best ones to own are the most popular. They include the American Eagle, the South African Krugerrand and the Austrian Philharmonic.
Be wary of certified coins. There are many coin-grading services that assign a grade to gold bullion coins, then encapsulate them in plastic. This supposedly guarantees the quality and authenticity of the coin. It is also an excuse for dealers to charge you more for the coin. Gold is gold. A little piece of paper saying one coin is better than another isn't always worth paying significantly more. As long as a coin is genuine and flawless to the naked eye, it will retain its value as a gem-uncirculated coin.
www.kitco.com is a good source for the current price of gold. Gold and silver prices change daily, and gold dealers base their prices on the daily rate. You need to know the current price of gold so you wont get cheated. Prices are stated as dollars per ounce.
Find a reputable bullion dealer. The best place to buy gold bullion is at a shop that specializes in precious metals. Look for someone with a long history in your community who lists their buy and sell prices for everyone to see. A reputable coin dealer will also sell you gold bullion, but may not have the selection and quantity that a bullion specialist does. Another option is to buy from internet dealers. Prices are usually lower than local dealers, but you will have to pay a nominal shipping fee. Some of the reputable dealers can be found on this page.
Ask the gold bullion dealer for discounts and deals. In some states, there is no sales tax on gold transactions more than $1,000. Many dealers will give you a price break if you buy large quantities. Some offer free shipping and insurance if you buy a certain amount. Always inquire about their buy back policies.
Decide what kind of bullion you want. The most popular form of bullion is one-ounce coins. They are the easiest to buy and sell because every coin and bullion dealer uses them. One-ounce bullion coins are issued by government mints around the world. The best ones to own are the most popular. They include the American Eagle, the South African Krugerrand and the Austrian Philharmonic.
Be wary of certified coins. There are many coin-grading services that assign a grade to gold bullion coins, then encapsulate them in plastic. This supposedly guarantees the quality and authenticity of the coin. It is also an excuse for dealers to charge you more for the coin. Gold is gold. A little piece of paper saying one coin is better than another isn't always worth paying significantly more. As long as a coin is genuine and flawless to the naked eye, it will retain its value as a gem-uncirculated coin.
www.kitco.com is a good source for the current price of gold. Gold and silver prices change daily, and gold dealers base their prices on the daily rate. You need to know the current price of gold so you wont get cheated. Prices are stated as dollars per ounce.
Find a reputable bullion dealer. The best place to buy gold bullion is at a shop that specializes in precious metals. Look for someone with a long history in your community who lists their buy and sell prices for everyone to see. A reputable coin dealer will also sell you gold bullion, but may not have the selection and quantity that a bullion specialist does. Another option is to buy from internet dealers. Prices are usually lower than local dealers, but you will have to pay a nominal shipping fee. Some of the reputable dealers can be found on this page.
Ask the gold bullion dealer for discounts and deals. In some states, there is no sales tax on gold transactions more than $1,000. Many dealers will give you a price break if you buy large quantities. Some offer free shipping and insurance if you buy a certain amount. Always inquire about their buy back policies.
Friday, December 31, 2010
Storing bullion
So now you have purchased a hoard of gold and silver coins and bullion, it has arrived at your home. What do you do? This article will explore the most used options for safe storage of your precious metals and the various risks involved with each one.
The first rule of precious metal storage is not to tell anyone, even family, that you own or where you store precious metals. If word slips out, make it widely known that you do not have it at home but in storage in Switzerland.
Numerous options are available for you to store your precious metals. Defining your level of risk and trust is important.
The simplest method is to purchase through a dealer that also offers storage at a "secure" facility. Your metals are registered, numbered and stored for a fee at such facilities. Fees are generally defined by the amount you have in storage. I have included the following web site for more exact costs and locations associated with this type of ownership.
http://www.bullionvault.com/
Of course the downside to this type of ownership is that you never see the physical metal. It is entrusted into anothers care. While I am not aware of anyone losing their investment with this option, there are those who entertain worse case financial meltdown scenarios that would much prefer access to their assets if they are needed. Also any possible government confiscation issues virtually assures a paper trail with your name on it.
Safe deposit box option. Cost is dependent on the size of the box, but you can expect costs to be in the neighborhood of $100.00 per year. Safe deposit boxes are generally located inside a bank. It is a good idea if you are considering this option to walk into the bank you are considering and ask the bank manager what the bank policy regarding your access to your safe deposit box in the event of a bank closure or a run on the bank. Will safe deposit customers be given access to the inside of the bank? I did this little excercise and was quite amazed to find out that the bank manager did not know what the bank policy was or if there even was a policy. What is in your safe deposit box is not insured so no guarantee exists in the event of robbery.
Storage at home. While I am sure the last place anyone might look is under your mattress, you might feel more vulnerable with this option unless you create something that gives you a strong sense of security. If you intend to purchase over $10K in precious metals and you want to store it at home, a good idea is to purchase a large safe and have it bolted to the floor (concrete is best) in an out sight location. A house alarm security system gives any intruders a short window of opportunity to excavate a securely attached safe weighing several hundred pounds or more.
Advantages: you are in possession of your savings if they are needed, With a safe you can store other important artifact or documents.
Disadvantages: you may feel it is more vulnerable than the other options of storage.
The first rule of precious metal storage is not to tell anyone, even family, that you own or where you store precious metals. If word slips out, make it widely known that you do not have it at home but in storage in Switzerland.
Numerous options are available for you to store your precious metals. Defining your level of risk and trust is important.
The simplest method is to purchase through a dealer that also offers storage at a "secure" facility. Your metals are registered, numbered and stored for a fee at such facilities. Fees are generally defined by the amount you have in storage. I have included the following web site for more exact costs and locations associated with this type of ownership.
http://www.bullionvault.com/
Of course the downside to this type of ownership is that you never see the physical metal. It is entrusted into anothers care. While I am not aware of anyone losing their investment with this option, there are those who entertain worse case financial meltdown scenarios that would much prefer access to their assets if they are needed. Also any possible government confiscation issues virtually assures a paper trail with your name on it.
Safe deposit box option. Cost is dependent on the size of the box, but you can expect costs to be in the neighborhood of $100.00 per year. Safe deposit boxes are generally located inside a bank. It is a good idea if you are considering this option to walk into the bank you are considering and ask the bank manager what the bank policy regarding your access to your safe deposit box in the event of a bank closure or a run on the bank. Will safe deposit customers be given access to the inside of the bank? I did this little excercise and was quite amazed to find out that the bank manager did not know what the bank policy was or if there even was a policy. What is in your safe deposit box is not insured so no guarantee exists in the event of robbery.
Storage at home. While I am sure the last place anyone might look is under your mattress, you might feel more vulnerable with this option unless you create something that gives you a strong sense of security. If you intend to purchase over $10K in precious metals and you want to store it at home, a good idea is to purchase a large safe and have it bolted to the floor (concrete is best) in an out sight location. A house alarm security system gives any intruders a short window of opportunity to excavate a securely attached safe weighing several hundred pounds or more.
Advantages: you are in possession of your savings if they are needed, With a safe you can store other important artifact or documents.
Disadvantages: you may feel it is more vulnerable than the other options of storage.
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