Go and Google “health care reform act – reporting gold sales to IRS” or something similar – search it however you want to. You will discover that, in the HEALTH CARE reform act, is a hidden little item that requires people to report any purchase of gold above a certain dollar amount to the IRS. No… it won’t be taxed… at least not YET. This part of the law is supposed to go into effect in 2014. Nobody will ever be able to buy gold again without reporting the sale to the government. Here’s what I think will happen: in another 12 to 18 months, this small fact will become more popular and be reported in the press. There will be even MORE of a rush to buy gold before the law goes into effect, driving prices through the roof. Buy now. Prices will go up ahead of this law.
It will also shift many investors over to palladium or silver (yes you can buy palladium coins) because those won’t yet be among the precious metals required for IRS reporting.
What I want to know is… what the heck does gold sale reporting to the IRS have to do with a health care reform bill? There is your government at work, sneaking legislation under the radar to take what you’ve earned.
As far as 401(k), I invest a small amount into it. Don’t put too much in your 401(k)! It’s fine now, but in 20 years, the government will start cutting costs by targeting the “rich” people who have large 401(k) accounts. The government can’t tax that money, but they sure can deny you social security benefits and medicaid. If you have “too much” according to the government, they will adjust your benefits accordingly. It’s called “spreading the wealth.” I truly believe that anyone with more than about $250,000 in their 401(k) will forfeit some part of their social security to offset what the government will label as “excess.” Too many people aren’t saving for retirement, and they will elect people into office who will take that money from YOU one way or another.
This is another reason to have hard bullion in your safe (or in the bank, or buried somewhere, etc). It’s the one thing the government can’t track… for now.

Grandpa would tell me stories about saving gold and silver. About how no one outside the family should ever know how much you have, or where you hide it. He told me the government can’t take it away if they don’t know you have it. He told me the government can’t tax it either. The bank can’t seize it, or put a hold on it, neither can the government.
He also told me that once your start your “treasure” you will want to grow it. He told me to make sure to never short myself cash..only put what I can afford into bullion. I still use his contact today to buy my bullion…at only 4% over spot.

THANKS GRANDPA!!

There’s something odd that happens once you started collecting bullion…you become much more diligent in saving. You just want to add to it, make it grow.

Over the last 25 years, I have put a little into bullion every paycheck, only $10 to $30. Never too much..just mad money.

My focus has always been on our INVESTMENTS with companies like investors group, manlife and several others.
When Manlife collapsed, I lost all 12 years of my investments, $350 per month invested…gone. I was supposed to retire on that. This was the first investment plan I got into at 17 years old.
I got ripped off twice by “financial advisers” a decade apart…the advice they gave was horrendous. One guy actually ripped us off, forging a stolen check and draining our chequing account. In all fairness…investors group made good on that one. They were very apologetic and cooperative in returning my money stolen by theft. The fact that the investments they suggested NEVER CAME CLOSE TO WHAT I WAS TOLD THEY WOULD RETURN…not so much. Isn’t that a kind of theft?

1985 to 2011 results to date:
Investments: 25 years of diligence = 22.4% growth – in total.
Bullion: 25 years of “playing” at investment = approx. 900% growth at today’s spot prices. (of course that is unrealized…I hold bullion still…I only cash in occasionally. I just dumped a 100 oz bar of silver that cost me $528 to buy. I sold it for $3210.00 last friday)

Conclusion:
I would imagine that if I was smarter at investing, I wouldn’t have been taken to the cleaners by the “experts”. I probably would have seen the signs…mutual funds that were swallowed by fees, actually paying less than 1% (but posting 9% gains in the papers). GICs that paid less than the service fee to set them up, savings bonds that ended up paying zero after inflation.

So my story proves nothing other than perhaps some diversification into the actual bullion might save your butt.
I know it saved mine. Seriously.

Look at the web link I provided, especially the 10 yr chart. It speaks for itself concerning why gold is NOT only a good investment BUT also a hedge against inflation as some of the smarter commenters above noted.