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Money Laundering & Gold

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I have warned that if you are going to buy gold, make sure it is common date $20, $10, or $5 gold coins since bullion is going to become a dirty word. As of April 1, 2015, Chase Bank in the U.S. is advising its clients who rent safe deposit boxes that they may not use a safe deposit box to store cash or gold.

According to their new policy, “Contents of box: You agree not to store any cash or coins other than those found to have a collectible value.”

In other words, simply storing gold bullion or cash is now considered to be money laundering as you are hiding assets from the government. They will assume it is illegal gains, even if you can prove it is cash or gold you bought after paying taxes. Welcome to the new totalitarian world of government; you are merely a custodian of the government’s total wealth and are seen as their property. You should have gold coins that are collector’s items with common dates rather than modern produced bullion coins.