subject: Gold In Your Bank Account [print this page] Your funds in the bank profits you next to zero. Meanwhile, the us government has the ability to print all the cash it desires to.
In brief, your money in the bank is steadily eroding. Your money is losing purchasing authority year after year.
What can you perform to protect your savings? Frank Trotter of EverBank has an innovative resolution.
Through EverBank's "Metals Choose Gold" accounts, you may continue some of your savings at the bank in gold, rather than in money.
Think having a conversation Frank that goes somewhat similar to this :
"So, Frank. I can keep my every day money in my regular checking account. after which I can keep my longer-term savings split among a regular savings account and gold?"
"Yes."
"But what if I need to exchange my gold on the bank into money to purchase a huge expense?"
"No problem."
"How long will it take to get my cash? One day or two?"
"Yes."
"OK. Can you hold my gold?"
"But you want. You might have gold along with your name on it, hence to talk, which has a storage fee. Or we are able to hold it for you as unallocated gold, where there's no storage fee."
"Will you send me my gold if I need it?"
"Certainly. It's your gold."
I hadn't noticed of U.S. banks offering gold as an account choice. However EverBank does. And it's a pretty convenient way to carry gold.
Suppose your house needs a new roof, also you need to get the money out of savings. If your savings have gold coins in a safe-deposit box, you have a significant hassle.
You have to move for a bank and get your gold coins. Then you need to find someone to buy them from you at near full price. Either take them to a local seller or else mail them off to a reputable dealer. You are taking a bit of a risk, having them on you or putting them in the mail. Then you have to wait on a check. Then you deposit that check in your bank. Then let it clear. Then you can write a check for the latest roof. What a pain!
With your gold at EverBank, you tell them you need to convert your gold to cash plus shift that money to your checking account. It's going to have a day or 2 since when you say "sell my gold." After this you be able to write down that check for the roof.
Now, when you hold your account in gold, its price is not guaranteed from the FDIC. Your checking in addition to savings accounts are, of course. When the cost of gold goes down, the worth of your gold account
goes down - the FDIC is not going to help you out there.
But with the bank paying out next-to-no interest - and the us government printing money at will - it makes sense to carry some of your savings in gold. Holding gold within your checking account keeps your living easy. EverBank offers a trouble-free ways to do it.
EverBank really does offer one way to hold valuable metals with an FDIC-insured guarantee.
Frank Trotter as well as his crew are an innovative bunch. They at present offer what they call a MarketSafe Compact disc for precious metals. In short, if precious metals go down in cost over the life of the CD, you do not lose any money. If valuable metals go up, you get an excellent percentage of the gains.
by: Mark Nicholas
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