Comment: How Would It Work?

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How Would It Work?

Clearly, if they ordered all the Trustees to turn over their clients' possessions, which the Trustees are keeping in vaults, storage units, and in file cabinets, and electronically, all over the place (assets such as physical metals, trading cards, artwork, boats, real estate, stocks, bonds, postage stamps, jewelry, mortgage notes, etc.), the trustees will file suit immediately to stop it.

Complying with such an order would clearly put them out of business, and violate their duties to their clients, as well as be a huge expense to deal with--will they be required to assess the values or sell the physical assets?--can they? Real estate and mortgage loans recorded with local counties would be especially interesting to turn over: how would the transfer work?

Even if your IRA is in electronically traded stocks, the conversion to Treasuries would probably bring objections from all the firms traded in the stock market: they don't want their shares forcefully sold!

The moment I see that new income taxes will be imposed on the sale of gold in my IRA, I'm not going to sell mine, I'm going to instruct my trustee to send it to me, because the tax advantage is the only reason to have it in the IRA. If they impose a federal sales tax on gold, then I imagine gold will be sold in other countries, rather than in the U.S. Any such desperate move (sales or income tax) might reduce the value, as an investment, in the U.S., but I imagine would only raise its value in the rest of the world, because it's a red flag indicating desperation.

What do you think?