Warren Buffett’s Recent Explanation of How Money Now Works Is the Most Important in History

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[–][deleted] 2 insightful - 1 fun2 insightful - 0 fun3 insightful - 1 fun -  (4 children)

It's not really a "restriction" per se: retirement savings accounts ("RRSPs" in Canada, 401(k) and IRA I believe, in the USA) are special accounts you open at a securities firm (or bank). As such, they are for holding securities as retirement investment, not physical objects. I guess it would be theoretically possible for somebody to hold metals in such an account, but the bank would need special individual safety deposit boxes that can only be opened and closed conjointly with the investor and the bank, together. A complex and expensive process for the infinitesimal minority of investors who would look into this.

[–]hennaojichan 1 insightful - 1 fun1 insightful - 0 fun2 insightful - 1 fun -  (3 children)

I've had a couple of IRAs so we're on the same page. Never use Capital One for such things. They really tried to rip me after my IRA had matured. Long story deleted. This place will ship to you and are totally reliable . They also sell CDFs (?) that say you own this much gold or silver. In the current climate, stictly physical for me and maybe some of the new, cheaper cryptos that I do not really trust but I will try in a small potatoes way. (I have no idea of your expertise so I just put that in for anyone looking for a lead on a good company. I do not own it or work for it.)

[–][deleted] 2 insightful - 1 fun2 insightful - 0 fun3 insightful - 1 fun -  (2 children)

Yeah, Kitco is very solid. In the crypto space, I own Bitcoin and Ethereum. GRIN looks like a nice speculative play right now. My level of expertise is up there pretty much as high as it can go, at least for stocks and derivatives. Crypto is not my thing, but I know enough to know it's the future.

[–]hennaojichan 1 insightful - 1 fun1 insightful - 0 fun2 insightful - 1 fun -  (1 child)

All right, you're ahead of me then. I've bought so much gold and silver there is little money left to buy cryptos right now. I will check out GRIN and one that Jeff Berwick mentioned: LiteCoin. Do you follow Berwick? He seems quite legit but tell me if you have doubts about him.

[–][deleted] 2 insightful - 2 fun2 insightful - 1 fun3 insightful - 2 fun -  (0 children)

LiteCoin used to be the runner-up in cryptos after bitcoin, but my understanding is that the creators are scammers and pre-mined way too much of the coin before "launching" it, and other things too. I forget the details but LTC is to be avoided as per what I learned.