D
DeletedUser394
Guest
I stumbled upon Euro Pacific Bank based in the Caribbean the other day. If the name 'Euro Pacific' sounds familiar that's because it's one of Peter Schiff's latest creations.
The account is denominated in either silver or gold and if you need cash you can sell off a portion of your position and use the gold (or silver) debit card to make purchases wherever in the world you happen to be at that time.
I think it's a pretty neat idea and I support Peter Schiff.
Some of the downfalls are the 4% buy/sell fees when moving into and out of a precious medals position. Mind you right now I pay 4% buy/ 2% sell on my physical gold bullion, so it's not much different. If you're moving in/out of positions over $5k then you start getting lower transaction fees. It's tiered lower the more money you move. The lowest fees offered are 1% buy/ 0.5% sell which to me is very fair for the liquidity you get.
The account itself is free.
You don't have to buy the debit card, but if you do it's a one time fee of $150.
The bullion backed accounts are available to everyone in the world... except Americans.
https://europacbank.com/products/metals-backed-account/
The account is denominated in either silver or gold and if you need cash you can sell off a portion of your position and use the gold (or silver) debit card to make purchases wherever in the world you happen to be at that time.
I think it's a pretty neat idea and I support Peter Schiff.
Some of the downfalls are the 4% buy/sell fees when moving into and out of a precious medals position. Mind you right now I pay 4% buy/ 2% sell on my physical gold bullion, so it's not much different. If you're moving in/out of positions over $5k then you start getting lower transaction fees. It's tiered lower the more money you move. The lowest fees offered are 1% buy/ 0.5% sell which to me is very fair for the liquidity you get.
The account itself is free.
You don't have to buy the debit card, but if you do it's a one time fee of $150.
The bullion backed accounts are available to everyone in the world... except Americans.
https://europacbank.com/products/metals-backed-account/
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