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When I
started at Miles Franklin last year, I knew more about PMs than 99.9% of the
world’s population. However, I still had a lot to learn; and do so more
each day.
For
example, last year I had not even heard of “junk silver”;
but now that I do, it has become my NUMBER ONE RECOMMENDATION – per my
recent RANT, “MUST OWN JUNK
SILVER.”
Additionally,
I had not even heard of the concept of PRIVATE, INTERNATIONAL bullion
storage. That is, I was well aware that banks offered storage
programs; as well as U.S. institutions such as the Delaware Depository and
– of course – James Turk’s Goldmoney.
However, I’d rather be SLOWLY TORTURED than put my life’s
savings in a U.S. institutions of ANY kind; much less an insolvent,
thieving bank or a storage facility with a “GIANT X” on
its back.
Finally,
as much as I trust James Turk personally, the concept of owning fractional
ownership of “digital gold” stored overseas –
much of it in the financial world’s CRIMINAL capital of London –
did not appeal to me either. Frankly, I also view Goldmoney’s
aim of becoming an “alternative currency” as putting an even
larger “X” on its back. Already Goldmoney
has seen official pushback in the Netherlands, and the LAST thing
I’d want is the custodian of my PMs under the shining spotlight of
CRIMINAL governments…
Goldmoney.com
is closing Dutch accounts – September 27, 2011
That is
why I was excited to learn about Miles Franklin’s Canadian storage
program (www.preciousmetalstorage.net),
which launched coincident with my joining the firm last Fall…
Miles Franklin Precious Metal
Storage
However,
it wasn’t until I actually visited our Montreal facility last December, that I realized what a unique service we were
offering…
CANADIAN
BULLION STORAGE – THE SOUND OF SMART
Our
Canadian program is operated by perhaps the oldest, most well-known
security company on Earth – NOT A FINANCIAL INSTITUTION – to the
point that its brand name has become as synonymous with security as Band-AidTM with adhesive bandages…
Fun with Words –
Proprietary Eponyms
Since
launching nearly a year ago, our Canadian storage program has amassed more
than $40 million of bullion, from clients requiring safety and privacy
OUTSIDE THE BANKING SYSTEM.
Moreover,
our Montreal location provides easy access to one’s bullion –
either via shipment to Canada or back to the U.S. – and an
industry-leading cost structure. That is, unlike essentially all competitors
– which charge roughly 0.75% of bullion VALUE annually –
we charge a FIXED RATE per ounce; at a relatively low rate.
Better
yet, your segregated, insured –
by Lloyd’s of London – bullion is AUDITED PERSONALLY BY MILES
FRANKLIN OFFICERS EACH QUARTER. Remember, there is no asset more important in
the unregulated bullion industry than reputation; and thus, we take
our responsibility as administrator of this program SERIOUSLY. Not only that,
but the firm’s founders and chief executives –
David and Andy Schectman –hold significant
amounts of their personal net worths
there…
A
Straight Forward Discussion About Gold Confiscation – David Schectman, Miles Franklin
As for
third-party storage in general, I have made it quite clear that the most
desirable situation is holding one’s bullion at home; or if not, in a
safe, anonymous place only YOU and close loved ones are aware of – so
long as you can properly safeguard it from burglary.
In fact,
I’d venture that 98% of the world’s PM holders do so in
this manner; although most own very small amounts. In terms of PM value,
however, that percentage is much smaller; perhaps as
low as 30%. That is, for those with large bullion holdings
(particularly silver, which utilizes significant space); or those with
mobility issues, or an inability to PROTECT their holdings; renters;
expatriates; and high profile persons – third-party storage not only
“makes sense,” but may be the only viable option.
Since
learning of our Canadian storage program last Fall, I have continuously
pondered the pros and cons of moving my bullion to Montreal. As you may have
guessed, I am particularly paranoid about my surroundings, and more bearish
about the near-future than most. Moreover, as a “high-profile person”
in the PM industry, I must be particularly cautious, especially given my
expectation of an imminent outbreak of political, economic,
and social CHAOS– possibly as soon as 2013.
Following
these deliberations, I made a MAJOR personal decision; i.e., the subject of
the “IMPORTANT ANNOUNCEMENT” I am about to share. That is, last
week I shipped my entire PM holdings to our Canadian storage program. At
“MILES
FRANKLIN, PROTECTION PROVIDER,” we not only seek the best ways to
safeguard your family’s future – but “walk the walk”
as well.
PROTECT
YOURSELF, and do it NOW!
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