worst gold fund for 2019

Discussion of the Gold portion of the Permanent Portfolio

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Xan
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Re: worst gold fund for 2019

Post by Xan » Fri Dec 06, 2019 2:10 pm

mathjak107 wrote:
Fri Dec 06, 2019 9:37 am
If they see you doing it they will turn it over to authorities to find out why you are breaking your agreement and trying to hide cash and gold knowing it is forbidden .
In addition to dualstow's question of how, I'm wondering what authority would care about this, and exactly what the remedy would be other than "make the guy clear out his box and not rent it to him anymore", which the bank could do without the authorities.
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Re: worst gold fund for 2019

Post by mathjak107 » Fri Dec 06, 2019 2:15 pm

Chase is very clear ...
They are forbidding anything that is popular with money hiding or laundering .
They have a right to video or send an escort with you when you go to your box .

It is in your agreement that you give them permission to turn anything not permitted over to the proper authorities to look in to why you are trying to store and possibly hiding items not permitted .


In your contract for a box this is spelled out and you agree to it
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Re: worst gold fund for 2019

Post by dualstow » Fri Dec 06, 2019 2:19 pm

Interesting. If my bank changes its policy to something like Chase's, I guess I'll have to pack it in.
Gold has passed 1645/oz
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Re: worst gold fund for 2019

Post by mathjak107 » Fri Dec 06, 2019 2:22 pm

From the agreement you sign

You agree not to use the box to store money, coin or currency unless it is of a collectable nature, and you assume all risks and hold the Bank harmless of any loss or alleged loss of said money, coin or currency.
You further agree not to use the box for any dangerous or unlawful purpose or for anything that can be considered a nuisance. You agree that we may turn over to any law enforcement or other governmental agency any object, of yours, which we believe, in our sole discretion, to be prohibited by the terms of this lease and we will bear no liability for doing so. You forfeit all rights to any contents stored in the box that are not permitted by the terms of this lease. You hold us harmless of any loss or alleged loss or other liability for any actions we take, at our discretion, with respect to such prohibited contents.
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Re: worst gold fund for 2019

Post by Xan » Fri Dec 06, 2019 2:26 pm

mathjak107 wrote:
Fri Dec 06, 2019 2:22 pm
From the agreement you sign

You agree not to use the box to store money, coin or currency unless it is of a collectable nature, and you assume all risks and hold the Bank harmless of any loss or alleged loss of said money, coin or currency.
You further agree not to use the box for any dangerous or unlawful purpose or for anything that can be considered a nuisance. You agree that we may turn over to any law enforcement or other governmental agency any object, of yours, which we believe, in our sole discretion, to be prohibited by the terms of this lease and we will bear no liability for doing so. You forfeit all rights to any contents stored in the box that are not permitted by the terms of this lease. You hold us harmless of any loss or alleged loss or other liability for any actions we take, at our discretion, with respect to such prohibited contents.
Sheesh! Maybe it's from the agreement you sign, not me. That's a license to steal.
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Re: worst gold fund for 2019

Post by mathjak107 » Fri Dec 06, 2019 2:30 pm

I keep nothing in the box that i shouldnt so it’s a moot point
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Re: worst gold fund for 2019

Post by dualstow » Fri Dec 06, 2019 2:59 pm

mathjak107 wrote:
Fri Dec 06, 2019 2:30 pm
I keep nothing in the box that i shouldnt so it’s a moot point
I'm grateful that you told us, though, so I can avoid Chase.

I only keep a local brick & mortar bank for two reasons -
(1) Local checks // pretty much obsolete nowadays
(2) free* gold storage


*Yes, there's a minimum balance for that, but it's paltry. I keep more in there to pay bills anyway.
Gold has passed 1645/oz
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Re: worst gold fund for 2019

Post by mathjak107 » Fri Dec 06, 2019 3:16 pm

the free boxes are way to small for all the stuff we have . so we have to pay quite a bit for a bigger box . there is such demand around here that there are long waits for bigger boxes .

keep in mind banks cover nothing in a box so make sure you have your own insurance . as many found out in sandy , even flood damage is not covered by the bank
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Re: worst gold fund for 2019

Post by Xan » Fri Dec 06, 2019 3:44 pm

mathjak107 wrote:
Fri Dec 06, 2019 2:30 pm
I keep nothing in the box that i shouldnt so it’s a moot point
Not sure it's entirely moot. They have a broad discretion to determine what's allowed and what isn't. What if they determine what you have in there isn't collectible enough?
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Re: worst gold fund for 2019

Post by mathjak107 » Fri Dec 06, 2019 3:49 pm

There really is nothing not approved . We have just like rings ,earrings and bracelets plus paper work we want off premise .

Our sister building next door had a five alarm fire that started on the roof a few years ago..the water damage and subsequent theft of jewelry from some of the apartments at some point while they were evacuated made us rethink some of the stuff we kept in the apartment
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Re: worst gold fund for 2019

Post by dualstow » Fri Dec 06, 2019 4:31 pm

mathjak107 wrote:
Fri Dec 06, 2019 3:16 pm
the free boxes are way to small for all the stuff we have . so we have to pay quite a bit for a bigger box . there is such demand around here that there are long waits for bigger boxes .

keep in mind banks cover nothing in a box so make sure you have your own insurance . as many found out in sandy , even flood damage is not covered by the bank
Here, too. Long wait for a big box. I started with the smallest. But, I’ve been with this branch since the 90s. Now I have the biggest. Plus, gold is compact. O0 I have a hard drive that I can always replace with a DVD 📀.

Insurance. Yes, technovelist mentioned a company that I’d probably go with. But, if gold is my insurance, I don’t want to have to insure my insurance. Maybe I’ll change my mind if I ever buy “too many” ounces.
Gold has passed 1645/oz
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Re: worst gold fund for 2019

Post by technovelist » Fri Dec 06, 2019 4:44 pm

dualstow wrote:
Fri Dec 06, 2019 2:59 pm
mathjak107 wrote:
Fri Dec 06, 2019 2:30 pm
I keep nothing in the box that i shouldnt so it’s a moot point
I'm grateful that you told us, though, so I can avoid Chase.

I only keep a local brick & mortar bank for two reasons -
(1) Local checks // pretty much obsolete nowadays
(2) free* gold storage


*Yes, there's a minimum balance for that, but it's paltry. I keep more in there to pay bills anyway.
Your bank offers free gold storage? Wow, that's a great deal!
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