INTERNATIONAL MANS

GUIDE TO OFFSHORE
GOLD STORAGE

INTERNATIONAL MANS
GUIDE TO OFFSHORE GOLD STORAGE

Table of Contents
Get One Foot Outta Dodge .....................................................................................................

The Time to Diversify Internationally Is Now ...................................................................

What the Next Gold Confiscation Will Look Like .....................................................................

More Likely Than Outright Confiscation ..........................................................................

Keep Your Hands Off of My Gold! ....................................................................................

Why Singapore Has Become a Top Destination for Offshore Gold Storage ............................

Top Storage Facility in Lion City .......................................................................................

How to Own Physical Gold in SingaporeA Low-Cost Strategy ..............................................

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Step #1: Get Set Up .........................................................................................................

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Step #2: Accumulate .......................................................................................................

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Step #3: Take Delivery .....................................................................................................

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Step #4: Move to a Private Vaulting Facility ....................................................................

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Be Proactive, Not Reactive ..............................................................................................

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Get One Foot Outta Dodge

By Jeff Clark

One of the most popular questions we are asked is why, how, or where to store bullion
internationally.
The volume and sophistication of the questions we receive highlights the concern many of us
have about aggressive governments, whether its capital controls or outright confiscation.
For years, government efforts (especially in the US) have discouraged the use of offshore
accounts by expanding reporting requirements, accompanied by stiff fail-to-file penalties.
Despite the disinformation and scare tactics, we found cost-effective, reputable, and secure
facilities to store gold beyond the easy grab of Uncle Sam. Theyre 100% legal, and compliance
is easier than advertised.
These non-bank offshore gold storage services check all our due diligence boxes and yield a
layer of asset protection and peace of mind that only international diversification can provide.
As I investigated these options, one thought crystallized in my mind...

The Time to Diversify Internationally Is Now

Thats not an empty slogan.
Given that weve not yet experienced any fallout from historic levels of currency dilution,
were certain bullion prices will be much higher in the near future once the crisis picks up
steam.
Second, the window to purchase or deliver bullion outside your political jurisdiction wont be
open forever. As Doug Casey insists:
Your biggest risk is not that gold or silver may fall in price. Nor that gold stocks
could take longer to catch fire than we think. Not even the prospect of the Greater
Depression. No, your biggest risk is political. As bankrupt governments get
increasingly desperate for revenue, any monetary asset held domestically could be a
target. It is absolutely essential that every investor diversify themselves politically. In
fact, at this point, it is the one action that should be taken before anything else.
Dougs views arent based on paranoia or whimsy. The International Monetary Fund (IMF)
endorsed the use of capital controls in late 2012, stating capital flows can have important
benefits for individual countries across the fund membership and the global economy. In
2013 they proposed a global wealth tax. And in early 2014, Germanys Bundesbank said
countries about to go bankrupt should draw on the private wealth of their citizens through a
one-off capital levy.

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Meanwhile, Harvard economists Carmen Reinhart and Ken Rogoff told the American
Economic Association that debt write-downs and financial repressioni.e., inflation and
restrictions on the flow of capitalmay need to be used by rich economies to reduce debt
burdens.
The intent of capital controls is straightforward: Restrict the flow of capital into and out of
your country to prevent a run on the currency and banks that would trigger a financial crisis.
The trouble begins once our money is trapped inside the border: Its vulnerable to the
taxation, inflation, or confiscation whims of Washington. Basic prudence demands that we
place sufficient assets out of harms way.
Even if you dont share our view on internationalization, consider this: What if Doug is right?
Or what if its not as bad as he thinks, but worse than you expected? What if a business or
career opportunity surfaces down the road, but your funds are caught in a hostage situation?
Look at it this way: Capital controls or not, you will be no worse off with some gold and
silver stored outside the US. International bullion storage is a fast-growing niche business.
And if nothing happens and you have some gold in a different country? Hello, vacation. Or if
youve accumulated enough, hello, vacation home.
Storing gold and silver internationally is no longer difficultits not terribly complicated to
set up, can be done at very reasonable cost, and doesnt require you to be part of the top 1%.
And it could be a lifesaver if things get nasty somedayif nothing worse, well, maybe well
plan a Casey wine-tasting vacation in that country someday.

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What the Next Gold Confiscation Will Look Like

By Nick Giambruno, Senior Editor

You may be familiar with the story of how the US government confiscated gold bullion and
then made owning it illegal back in 1933.
Actually this event is more accurately termed a nationalization. Americans were forced under
harsh penalties to sell their gold at an artificially low official price. If it were an outright
confiscation, the government would have just taken the gold without giving anything in
return. But no matter how you label it, the end result was the same: the theft of purchasing
power.
Many have speculated that the US government could once again turn to gold confiscation/
nationalization if it became desperate enough. These fears are not unfounded given the
abysmal financial situation of the US government that only continues to get worse, coupled
with a total lack of political will to cut spending.
But would the US government really turn to a 1933-style grab again?
I would argue that they wouldnt, but that doesnt mean the threat to your gold has
diminished. Quite the opposite.

More Likely Than Outright Confiscation

Today only a tiny fraction of the overall US population owns gold. That wasnt the case back
in 1933 when the US was still on a variation of the gold standard.
Heck, Id bet most Americans today have never even seen a gold coin, much less appreciate its
value.
This is why I think its unlikely well see a repeat of the 1933 ripoff. Its simply not worth the
effort. If the government is looking to confiscate wealth, theyll likely go for the low-hanging
fruit like financial accounts, which can be plundered with a few mouse clicks. Or theyll
continue to ramp up the inflationary money printing, which is a way to confiscate from savers.
But that doesnt mean gold owners are in the clear.
Instead there will be a new scam. And that scam is likely to be a windfall profits tax on gold.
A windfall profits tax on gold would be much easier for the government to administer than
what they did in 1933. And thanks to the system of citizenship-based taxation, a windfall
profits tax on gold could be levied on Americans no matter where in the world they live.
Theres precedence for this, too. In 1980, Congress passed the Crude Oil Windfall Profit
Tax Act, which taxed up to 70% of what they deemed to be windfall profits of domestic oil
producers.

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If gold were to explode to the upside (another way of saying the dollar crashes), we shouldnt
be surprised to see a bill like the Fair Share Gold Windfall Profit Tax Act get passed, which
would levy an 80%, 90%, or higher tax on gold.
Fortunately, there are some practical steps you can take to protect yourself from a windfall
profits tax on gold, which I believe is the most likely form of future confiscation.

Keep Your Hands Off My Gold!

One way you can avoid a windfall profits tax on gold is to become a resident of Puerto Rico.
You could also preemptively divorce the US government by renouncing your citizenship.
But these are drastic measures and out of reach of most people.
Theres a far easier solution that can be done from your living room and without having to
turn in your US passport. Its to own gold in a Roth IRA, preferably offshore gold.
A Roth IRA is like a tax-free zone. Its funded with after-tax savings, and any future capital
gains or income derived from investments in a Roth IRA are not taxableif you wait until
the age of retirement to withdraw.
While we can never know 100% for sure what the US government will do, it would be
unlikely that gold placed in the tax-free zone of a Roth IRA would be affected by a future tax
increase. That is, of course, unless the politicians start monkeying with the IRA rules. But that
would produce a lot of screaming from tens of millions of people, most of whom are voters. If
I were a politician, I would stay away from IRAs.
This is not to say that the US government doesnt have its eyes on the juicy target of
retirement accounts. As weve seen with the myRA scam, they most certainly do.
However, if and when an executive order is issued to convert a portion of your retirement
savings into unwanted Treasury securities, it will likely apply only to the most susceptible
retirement assetsthose being accounts with the large, traditional IRA custodians. These
assets are soft targets for the government. They could be frozen, confiscated, or nationalized at
the flip of a switch.
Physical gold held offshore in a Roth IRA would represent a significantly more complex
challenge for them to confiscate. It probably wouldnt be worth their effort either, as only a
very tiny percentage of Americans hold their retirement assets in physical gold overseas. It
makes much more sense that theyd go for the sitting ducks at the large custodians.
In short, a Roth IRA with gold held offshore is the most practical way to protect yourself
from the most likely forms of future confiscationa windfall profits tax on gold and a forced
conversion of retirement savings to Treasuries. Its the ultimate retirement insurance policy
and makes you a hard target.

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It used to be very time consuming and difficult to own gold offshore in an IRA. For a lot of
people, it simply wasnt worth the effort.
Fortunately, thats no longer the casethis solution is within reach of almost anyone.
All it takes is about 10 minutes to get set up, and it can all be done online without having
to leave your living room. Find out how you can diversify physical gold in your IRA with
offshore storage by downloading this guide.

Why Singapore Has Become a Top Destination

for Offshore Gold Storage
By Jeff Clark

Think about it: If you choose to store some gold and silver outside your home country, youre
entrusting not just a facility for safekeeping, but a foreign government for respecting your
private property.
Thats why its important we pick not just a strong storage facility but also a jurisdiction with
strong property rights and the laws to enforce those rights.
Its no secret in the gold world that Singapore has become the hottest destination for bullion
storage for many precious metals investors.
Why?
See if these attributes appeal to you as a potential bullion storage customer.
Singapore is
Fiercely Independent. Singapore is not reliant on nor beholden to the US government
certainly far less than most other nations. This could be a vital advantage as US dominance
fades and the government increasingly thrashes about.
Decidedly Pro-Business. The government has taken measures to support capitalism. And its
worked
Singapore is ranked as the worlds most competitive country by the Swiss-based
Institution for Management Developments Competitiveness Yearbook.
The World Bank reports, It takes an entrepreneur just over six working days to get a
new business going in Singapore, with low start-up costs. Overall, taking into account
other factorsbusiness licensing, taxes, credit legal rights and investor protection
Singapore has about the most business-friendly regulation in the world.

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It has been consistently rated the #1 or #2 most competitive country in the world,
based on the Global Competitiveness Report.

Safe, Clean, and Wealthy.

Singapore has one of the lowest crime rates in the world. Penalties for crime are often
severe. Many drug charges bring the death penalty.
Fines for littering are in the low four figures. At one point, the Restroom Association
of Singapore wanted its public toilets so clean you can eat off the lids!
Tax rates are among the lowest in the world. Welfare and unemployment benefits are
difficult to qualify for. Capital gains are tax-free. Singapores average wealth per adult
is ranked fifth in the world at $282,000.
These attributes naturally attract investors and entrepreneurial emigrants.
Politically Stable. Singapore has a parliamentary democracy, a well-established judicial
system, and strong domestic institutions, all on par with the most advanced economies
in the world. The country was recently ranked #1 for having the most open economy for
international trade and investment. Regulations, by comparison, are not burdensome.
This kind of political and financial climate has earned the confidence of the bullion storage
community and made Singapore storage facilities among the most respected and sought after
in the world. This backdrop provides a very firm footing for us.
For most investors, though, Singapore isnt a weekend getaway location, where bullion storage
can be organized swiftly and cheaply. Enter the Hard Assets Alliance

Top Storage Facility in Lion City

The Hard Assets Alliance (HAA) has experienced strong growthservices and storage
locations have expanded, and just last month, fees were lowered (again). It really is getting
hard to find a more comprehensive, inexpensive, and reputable program for international
bullion storage.
HAA offers storage in six locationsSalt Lake City, New York, London, Zurich, Sydney, and
Singapore. And given its global reach, its able to offer some of the most competitive purchase
and storage rates in the industry.
Singapore storage is with Malca Amit, one of the top private vaulting services in the world
(the top three are widely considered to be Brinks, ViaMat, and Malca Amit).
This is truly a world-class vault.

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There are definite advantages to using HAA storage in Singapore:

Outside the US financial system
No travel required
No reporting requirements
The prime disadvantage to Singapore storage is that it would be costlier to have metal
shipped to North America. Storage in Singapore (and any foreign location) is thus best suited
for investors who plan to hold the metal in storage for an extended period.
However, since we think the fallout from decades of fiscal and monetary mismanagement will
be a major event and take years to play out, this caveat is fine with us. Remember, you can sell
through HAA at any time.
What if the US declares forced gold repatriation or confiscation? We think an attempt by
the US government to grab or confiscate privately held gold by Americans is unlikely. As a
US company, HAA would be obligated to comply with any actions against gold ownership
announced by the US. However, if government intent looked to be headed in that direction,
there are options. Taking delivery of your Singapore-stored bullion from HAA outside the
US and using a different holding structure is one possible alternative.
HAA has some of the most competitive premiums and fees in the storage industry. HAA
employs a competitive bidding process for your order, which ensures you get the best buy and
sell prices.
How much bullion should you store in Singapore?
Enough to make a difference if things go south in your home country, but not so much that
you lack sufficient bullion stored locally if you need it right away.

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Buying for storage is not a bet that precious metals will rise next month or that theyve
bottomed. Gold and silver hold their purchasing power long termthats why we buy them.
Remember, the risks for a crisis are high, and we own gold to hedge against that distinct and
growing possibility.
It will soon be too late to diversify internationally.
In our view, this is one of the most critical steps investors should take right now. Combined
with the ease of offshore gold storage through HAA and the opportunity to store in one of
the top jurisdictions in the world, this should be viewed as a strong recommendation.
If you dont have an HAA account, start here.

How to Own Physical Gold in SingaporeA

Low-Cost Strategy
By Nick Giambruno, Senior Editor

The ultimate way to diversify your savings internationally is to transfer your stored purchasing
power out of the immediate reach of your home government and into something tangible.
Something that cannot be easily confiscated, nationalized, frozen, or devalued at the drop of
a hat or with a couple of taps on the keyboardwhile retaining as much privacy as legally
possible.
The two assets that fit the bill here are physical gold stored abroad in a private vault (or
safe deposit box) and foreign real estateneither of which are currently reportable to the
US government so long as they are held in your name and not with an LLC, trust, or other
structure.
Although I believe owning foreign real estate offers excellent internationalization benefits, it
can be an expensive option.
Fortunately owning physical gold stored in a private vault that is outside of the banking
system and located in a safe jurisdiction (such as Singapore) is a low-cost solution that is
within reach for people of modest means.
Taking this critical step to owning something tangible outside of your home country will
go a long way in diversifying the political risk to your savings. You will have preempted
capital controls, confiscation, nationalization, or any other dirty tricks your desperate home
government may have up its sleeve.
When youre dealing with a desperate government, it is always better to be proactive than
reactive.
Its like the saying from an old Quentin Tarantino movie, Its better to have a gun and not
need it than to need a gun and not have it.

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There are a couple of steps to convert your savings stored in a domestic financial account
denominated in an intangible fiat currency abstraction that exists only as digits inside a banks
computerinto physical gold bullion held in a private vault in Singapore that you can go visit
and hold in your own hand.

Step #1: Get Set Up

The first step in the process is to open an account with the Hard Assets Alliance (HAA),
which is a very convenient platform for buying, selling, and storing precious metals at various
locations around the world.
Casey Research is one of the founding members of HAA and counts it as one of our highly
coveted top picks for precious metals.
It is true that HAA is a US institution and thus susceptible to the edicts of the US
government. This should not cause significant concern since HAA is not the final destination
of your savings. Rather, HAA acts as a bridge to Singapore, an intermediate step in
transforming your domestic savings into physical gold held in a private vault in Singapore.
As you will see below, the ultimate destination of your savings is, however, completely
disconnected from the US.
Also, since your HAA account is a US account, you dont have to worry about reporting it to
the US government as you would if it were a foreign institutioneven if your HAA account
itself holds gold offshore.

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Step #2: Accumulate

The next step is to start accumulating gold (or silver) in a foreign country through your HAA
account, which allows you to own gold in Singapore, Switzerland, Australia, the UK, and the
US.
Lets continue with Singapore as our example. HAA uses Malca Amit as its vaulting partner
in Singapore.
Another benefit of HAA that is worth mentioning is its competitive premiums. A colleague
of mine was recently in Singapore and reports spot premiums there for one-ounce gold coins
to be roughly 5.5% to 7.6%, depending on the coin or bar. Compared to the premium that
HAA offers for bullion in Singapore (you can check the latest figures here), its clear that
HAA is a good deal.
The reason for this discrepancy is that HAA has direct access to refiners, bullion banks, and
institutional-level dealers, which helps drive its relatively lower global premiums. Your order
is bid out to this pool of institutions that then compete for the business, ensuring the best
available price.

Step #3: Take Delivery

The next step in the process is to take delivery abroad of the bullion that you have
accumulated with your HAA account.
A key benefit of using HAA to accumulate and store gold abroadbefore you totally
disconnect it from the USis that you are relieved of the major burden of having to transport
it yourself.
Personally transporting more than a couple ounces of gold bullion across international
borders can be very risky, and I strongly advise against it. It is simply a very bad idea, and you
are asking for trouble if you attempt it.
In addition to the risks of uninsured losses from theft and misplacement, the biggest risk that
you will face comes from the armed fellows wearing the government-issued costumes. Each
country has different, often complex, and ill-defined regulations on importing/exporting gold
bullion. It is very possible that customs agents in whatever country you are traveling through
will not fully understand the regulations and may decide to confiscate your metals and let the
courts sort it out if you are lucky.
In extreme cases, they might even detain yousimply for carrying gold.
If you have built up a position in Singapore through HAA, you dont have to worry about
transportation, insurance, import duties, declarations, confusing regulations, the TSA, or a
customs officer who has probably never seen a gold coin in his life, much less understands the
regulations surrounding it.

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However in order to take delivery of your gold that has been built up in storage in Singapore,
you actually have to go to Singapore, sign for it, and make arrangements in advance with
HAA to verify your identity.
As a side note, for those interested in purchasing a significant amount of bullion (over
$200,000), HAA can make special arrangements on an individual basis to facilitate delivery
to a private vault in Singapore without you having to actually be there.

Step #4: Move to a Private Vaulting Facility

The final step is to take the physical gold bullion that you have taken delivery from your
HAA account and store it in a private non-bank vault abroad.
Once you have completed this step you will have completely disconnected your physical
gold from any connections to the US. And as long as you are not using an LLC, trust, or
other structure, the gold you directly hold in a private vault abroad is not reportable to the US
government.
We have done due diligence and on-the-ground research on a number of private nonbank vaults and storage facilities around the world. We outline our preferred jurisdictions
(Singapore is one of them, of course) and facilities in our Going Global publication.
Speaking of our preferred solution in Singapore, their smallest safe deposit box (which will
hold about 128 one-ounce gold coins) will set you back only around $80/year at the time of
writing. Plus you have the option to prepay in cash for multiple years in advance.

Be Proactive, Not Reactive

I believe physical gold stored abroad is a superior form of savings.
It sure beats the alternative of keeping it within the grasp of a desperate government, inside
an unsound banking system, and denominated in a fiat currency whose value is ultimately a
floating abstraction tied to a bankrupt governments promise.
Following these four stepsand using the Hard Assets Alliance as a bridge to the final
offshore destinationis a low-cost strategy to internationalize your savings that most
people should be able to implement if they really want to.
Achieving the diversification benefits of this strategy goes a long way to protecting yourself
from capital controls, confiscation, nationalization, seizures, currency devaluations, and any
type of shenanigan a desperate government might try to pull.

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