Last week we commented on the next possible direction of the expanding war on cash down under. We highlighted a couple of possible steps to follow with a view to protecting yourself from an expected continuation of the war on cash.
Over the weekend, Simon Black of Sovereign Man wrote from a similar perspective but added a third step that we overlooked. Read on to see what that step is and at the end of this article we outline a local option available in New Zealand…
By Simon Black
First published at sovereignman.com
I’m in Rome today, on my way to spend time with my Total Access extended family at our villa outside the city.
It’s one of my favorite events of the year… I spend two weeks in central Italy surrounded by dozens of friends and colleagues. There’s no agenda. We just relax and enjoy each other’s company.
Total Access is the most exclusive membership Sovereign Man offers. As a Total Access member, you get access to private opportunities and other information that is too sensitive to put into print. And you have direct access to me and my network.
We keep this group small. In fact, we’re not accepting any new Total Access members right now (you can join a wait list to apply here).
Our Total Access members are an impressive group.
They come from all over the world. They’ve all achieved financial freedom. They understand the principles of freedom. And most of them have already created their personal Plan B – with second passports and citizenships, foreign bank accounts and international investments.
They’ve taken action to make sure they will be in a position of strength no matter what happens in the world.
But you don’t need millions of dollars to get started with a Plan B. You just need to take action.
There are steps you can take right now that will immediately create more freedom in your life. And many of them don’t cost anything.
Here are three steps you can take today to gain more freedom in your life…
1) Go online and buy a safe
This is easy.
Set a date — use your Google calendar, a string on your finger, whatever — to purchase an in-home safe before July 31, 2017. You know it makes sense (as we’ll discuss below).
Buy a used one if you need to. It might even increase in value as more and more people start buying safes. Whether it holds guns, gold or coins, it’s a real asset, and others may someday want one too.
2) Set a date to get some physical cash
While you’re setting that date to go buy a safe, go ahead and set a date for the following day to go to the bank.
You’re going to withdraw physical cash.
Don’t go crazy. Whether it’s $1,000 or $5,000, make sure you have enough cash to be able to make it through at least a month’s worth of the most critical expenses.
If you can’t take out a lump sum, then withdraw $100/ month for the next ten months. Just set a monthly date to go to the bank and make the withdrawal… and keep that date with your beloved banker
3) Buy gold and silver coins
We’ve discussed gold and silver so many times by now, I don’t need to explain to you again why you should consider having some on hand in that safe of yours. I’ll make the next step easy for you:
My friend, the world-renowned coin expert Van Simmons (firstname.lastname@example.org), is one of the biggest gold dealers on the planet. He always takes care of Sovereign Man readers… And his margins are some of the lowest.
Coins — both rare coins and bullion — are great hedges against whatever mischief might be going on in the economy. (If you are a new subscriber and did not see December’s letter, which includes more detailed explanations about coins, read more about them here.)
If you’re just starting out with collecting for your safe, we recommend starting with bullion coins. Among the most popular are the following:
US Gold Eagles
US Silver Eagles
Canadian Gold Maples
Canadian Silver Maples
South African Krugerrands
[Important Note from GoldSurvivalGuide Editor: US Gold Eagles and South African Krugerrands (plus also British Gold Sovereigns) are generally not advised for New Zealand buyers of gold and silver as these coins are only 22 carat or 91.6% pure gold and therefore they attract GST in New Zealand unlike Canadian Gold Maples. See this article for the specifics on the purity of gold and silver required for bullion to be GST exempt.]
If you haven’t already started on your Plan B, this is your chance. Don’t just read today’s Notes and say you’ll take these steps later. Commit to these steps and set hard deadlines for yourself.
Simon Black is an international investor, entrepreneur, and founder of Sovereign Man. His free daily e-letter Notes from the Field is about using the experiences from his life and travels to help you achieve more freedom, make more money, keep more of it, and protect it all from bankrupt governments.
We overlooked where to store any cash you hold personally and so Simon’s point about a home safe is a good one. Check out this article for more details on what to look for in a home safe and also to learn about our preferred supplier of safes here in New Zealand.