I always thought that the self-directed IRA scam was a trap and the gold will be confiscated at some point. These Gold IRAs are advertised everywhere now as a safe haven but I have my doubts. Moreover, you don't have control or own it and "your" agent has to do what the govt says not what you want just like any retirement account.
More generally, the US owes somewhere around $190T (and growing) in explicit and implicit debt which can never be paid off. When the SHTF and the world abandons the dollar the US will desperately need buyers of US debt to stave off the collapse of the system. At that point they will confiscate the gold and require all the retirement money (IRA/401K/SEP) to be patriotically "invested" in US treasures. It will start as an "emergency" 5% or whatever but will quickly rise to 10/20/30/40% and beyond. Since the govt won't have money they won't be able to bail out the banks so they will force bank "bail ins" where the money in your checking and savings accounts is confiscated to keep the banks afloat. This is one of the motives for pushing central bank digital currencies (CBDC). This isn't wild conspiracy but the economic/financial history of failed currencies and countries.
I would recommend buying physical gold and silver and placing it in a safe deposit box at your local credit union. They are very cheep and secure.
I always thought that the self-directed IRA scam was a trap and the gold will be confiscated at some point. These Gold IRAs are advertised everywhere now as a safe haven but I have my doubts. Moreover, you don't have control or own it and "your" agent has to do what the govt says not what you want just like any retirement account.
More generally, the US owes somewhere around $190T (and growing) in explicit and implicit debt which can never be paid off. When the SHTF and the world abandons the dollar the US will desperately need buyers of US debt to stave off the collapse of the system. At that point they will confiscate the gold and require all the retirement money (IRA/401K/SEP) to be patriotically "invested" in US treasures. It will start as an "emergency" 5% or whatever but will quickly rise to 10/20/30/40% and beyond. Since the govt won't have money they won't be able to bail out the banks so they will force bank "bail ins" where the money in your checking and savings accounts is confiscated to keep the banks afloat. This is one of the motives for pushing central bank digital currencies (CBDC). This isn't wild conspiracy but the economic/financial history of failed currencies and countries.
https://archive.ph/XHIWz
...an archived link...
...for those in the know...