It’s now possible store money in real gold and silver. In the past, banks used to store gold and silver. That option has now returned. If you came here to support me, you can do that by opening a UPMA account with my referral link.
The United Precious Metals Association (UPMA) is an organization that makes it possible to cost-effectively store your money in gold and silver coins. You can also store your money in something called “Goldbacks”. More on that later. By opening a gold and silver account at the UPMA you protect your money from inflation, inappropriate taxation and from the control of the lawless banking system. You can even lease your money, but only if you specifically allow it. Here are some videos that explain more about how it works.
The UPMA is not just a another place to store your investments in gold. It’s a completely different concept. It’s organized as a non-profit organization. It’s an association of members that has the feel of a credit union that exists for its members. One of the unique member benefits is that it doesn’t buy low and sell high (no spread in investor’s terms). Members always get the posted rates. This video has more information about that:
The UPMA holds your money physically in gold or silver in its storage facility. It is insured and can even be linked to a debit card.
The UPMA holds your gold and silver in U.S. silver and gold coins with an option to store in Goldbacks as well. This means that you are buying and selling using money not barter. It also means that you shouldn’t have to pay taxes just for spending your gold or silver money to buy things. Unfortunately, the federal government’s enforcement doesn’t match the law. Much will have to be done by our states to hold both state and federal officials to the law and remove those who don’t. I still recommend that you keep track of your purchases and sales of U.S. gold and silver coins for tax purposes, unless you have a sheriff and a state that will defend you against federal agencies.
When you use U.S. gold and silver coins to make purchases, you should not be required to pay capital gains taxes. Switching your money to paper does cause the government to wrongfully attempt to make you pay a large (up to 28 percent) tax though. UPMA provides a tool to protect members from this by offering a pawn service in an attempt to avoid this. It has a cost, however.
You can even loan out your coins using a lease. Leasing your coins is very much like having a one year “certificate of deposit” at the bank. It allows you to lend your money for a fixed period of time. The great thing is that the interest is also in gold or silver coin. This means that your investment is naturally protected from inflation. Even the interest is. That’s something that is nearly impossible to find in our paper money economy.
What do leased amounts at the UPMA get used for? That brings me to the newest local money alternative: The Goldback.
Several states have decided to offer their citizens the ability to use precious metal-delimited instruments, also called specie, as legal tender in the state. This give the people of those states the ability to use gold and silver as money when they buy things there.
One of the difficulties with buying and selling with metal is that silver is heavy and gold is so valuable that you have to have very tiny coins in order to use it for every-day buying and selling.
The Goldback is a high-tech alternative to coined money. They are bills that use a modern process to put gold inside a plastic coating in very specific quantities. They are produced with technology that creates articulate designs and fraud protection making them very hard to fake. You can learn more about a third-party verification of the Goldback’s quality here.
If you would like some more education about what Goldbacks are and why they are helpful, check out this Tuttle Twins Episode:
The UPMA allows you to hold Goldbacks in your UPMA account without paying for vaulting fees at all. You can withdrawal Goldbacks from your account and have them sent to you at any time. You can learn more about Goldbacks here.
There are more articles on the UPMA website if you would like to learn even more.
If you want to join the UPMA you can use my link to sign up and it will help me. The sign up process is surprisingly easy! Just tap or click on UPMA below