Tag Archive | "Michael Checkan;"

International Gold Review


This international gold review is a followup to yesterday’s message about maintaining control over your wealth.

Jyske Global Asset Management just changed its gold position so we should take a new look at gold.

Most major governments have deficits in their budget.  This forces them to borrow or print money that is not backed by productivity.  When this happens long term, the purchasing power of  money created in this way, loses purchasing power.

Any form of exchange must possess five qualities to be considered real money that will store value and purchasing power.  These five values that money must be are durable, divisible, portable, desirable and rare.

When a government creates a currency with no production to back it, then that currency loses its rarity and its purchasing power falls.

Gold is one long term way to combat the risk of a falling currency.

Gold is real money because it has all five qualities of real money.

Make no mistake… when it is rare… paper money is better money than gold… because it is more divisible and portable.   Electronic money available in a credit card is even better… the most portable and divisible of all… IF THE CURRENCY MAINTAINS ITS RARITY.

Regretfully for the dollar, euro, yen and many other major currencies, this has not been the case…  so gold still has a place in our portfolios.  Gold as a commodity fits the five standards best of all and for thousands of years has been used as a form of money.

In a moment we’ll look at what might happen to the price of gold in the months ahead.

First, because many readers have asked about bringing gold into Ecuador, I checked with out attorney Andres Cordova in Quito.  Here is his reply: Dear Gary:  After reviewing applicable legislation, we’ve found that there is no restriction on the introduction of gold or coins to Ecuador.

The introduction of such, however, does carry a tariff that is to be charged in accordance to weight or monetary amount. Furthermore, there’d need to be a customs filing in which the gold presentation is to be declared, such as ingots, jewelry, dust, etc. Furthermore, an explanation of where does such gold / coins come from needs to be consigned in such form. If gold is brought with the traveler, then such must be specified in the customs form that each passenger gets before landing in Ecuador.

Gold and coins would pay a tariff of 0.5% and 12% VAT.  However, if we could know exactly what the person intends on bringing to Ecuador we can better review applicable taxes and tariffs. Best regards,  Andres

For those that want physical gold in Ecuador, there is gold mining in Ecuador and are gold dealers. I do not know any  personally. But there are many places with signs that they buy gold. I am researching this and will post a password protected message for our Ecuador Living subscribers.  You can subscribe to Ecuador Living so you’ll receive this report when it is published.

There are three other ways to hold gold than in bullion and coins. These alternatives are less expensive than bullion and avoid the hassle and dangers of carry heavy, valuable precious metals on your person and across borders.  Plus they avoid this Ecuador tax.  We’ll review these options after we examine what might happen to gold’s price in the days ahead.

This article is from the Asset Strategies Alert:

When gold breached the $1,000/oz mark in February of 2008, the mass media were full of reports of unprecedented coin demand and long wait times for bullion buyers. You couldn’t open the paper without seeing a piece about the gold rush.

Although the press has now set gold aside for hotter stories, I can tell you demand for gold coins continues at unprecedented levels worldwide, and production is still struggling to keep up. Take a look at these recent reports:

Sales of the Austrian Philharmonic gold coin soared 544% in the first two months of 2009 (vs. the same period the year before), with production at the country’s mint running quadruple its usual volume.

The demand for Krugerrands is at its highest level since 1986. The South African refinery recently doubled production of blank gold coins to 20,000 ounces per week.

China, now the fastest-growing market for gold, saw 2008 sales (measured in dollars) rise by 50% over the year before – and total sales in January 2009 were one billion yuan (US$146 million), 30% more than all of last year.

The U.S. Mint sold 193,500 one-ounce gold Eagles in the first seven weeks of 2009 – equaling the number shipped in all of 2007 and about matching the first half of 2008.
Russia’s Sberbank says it has “never seen such strong demand for investment coins.”

Swiss banks just reported they are running out of secure storage space for gold bullion held by investors and institutions in their vaults.

I have worked with Michael Checkan at Asset Strategies International, Inc. for many decades and any time I think of gold, I think of him.

Michael’s firm offers one of the the three gold alternatives… Precious Metals Certificate Programs.

Precious metals can be purchased and stored on your behalf through the Perth Mint Certificate Program.  This program offers storage for gold, silver, and platinum at the Perth Mint in Western Australia. This is the only government guaranteed precious metals program in the world… fully backed by the government of Western Australia, and has operated continuously from the same location for over 100 years.

This is an easy and low cost way to hold metals overseas.  You can learn more about these certificates from Asset Strategies with a toll-free call 1-800-831-0007 or 301-881-8600 or visit their website www.assetstrategies.com.

See an interview with Thomas Fischer of Jyske Global Asset Management and Rich Checkan of Asset Strategies here.

Jyske Global Asset Management (JGAM) agrees that gold is a good asset now.  All of JGAM’s portfolios  were overweight in gold last time I reviewed them. . The low risk portfolio had about 5% in gold…. medium risk about 9% and the high risk portfolios were holding about 15% gold.

However JGAM does not invest in physical gold or even undivided bullion. They invest in the ETFS Physical Gold shares.  This is a share traded mainly on the London Stock Exchange  (code PHAU) but also trades on Deutsche Borse (Xetra), NYSE-Euronext, and Borsa Italiana.

The ETFS Physical Gold provides an easy, simple, cost-efficient and secure way to access the
precious metals market.  This share provides a return equivalent to movements in the
gold spot price less fees because the shares are backed by physical allocated metal held by the
Custodian (HSBC Bank USA N.A.).  All the gold held are good delivery bars.

This is a very practical way to own gold, because you can buy the shares direct from any stock broker.   The shares are transferable or sold in the market.  These shares trade on the stock markets just like an equity and their pricing and tracking operate similar to an Exchange Traded Fund except the share tracks the price of physical gold, not a portfolio of equities.

Here is the five year simulated price of these shares from the fund’s fact sheet.

gold-chart

Other ETfs that invest in physical gold are SPDR Gold Shares (GLD) listed on the New York Stock Exchange  in November of 2004, and traded on NYSE Arca since December 13, 2007, as well as  Singapore Stock Exchange, Tokyo Stock Exchange and the Stock Exchange of Hong Kong.

Here is a chart of the SPDR five year performance.

gold-shares

Another ETF that invests in gold is iShares Comex Trust (IAU).

I have just competed a full gold report for our multi currency subscribers that provides a  third alternative to gold bullion and coins.

In the multi currency gold report, I describe the recent change in JGAMs gold position, the profit they made and how Jyske Bank Private Bank and Jyske Global Asset Management can buy gold alternatives.

You can subscribe to our multi currency service and get this report here.

Deficit spending by the major governments around the world has reduced the integrity of the world’s currency system. All currencies risk losing purchasing power.  Gold long term is one way to combat this risk.

Gary

The greatest asset of all is the ability to earn wherever you live, which brings everlasting wealth.

This is why we offer our course Tangled Web… How to Have an Internet Business.

A clear mind and healthy body are also a vital assets… plus a second language is a powerful diversification tool.

This is why I am giving everyone who enrolls in our North Carolina or Ecuador International Business & Investing seminar in October or November our “Tangled Web… How to Have an Internet Business Course” (offered at $299) free.

Here are comments from a reader about the way we help:  Thank you for your inspiration and information outlining foreign banking and retirement.  Your comments and suggestions are welcome for planning the steps to evaluate the early stages of living abroad.

Sept. 17-21 Ecuador Super Thinking + Spanish Course

Sept. 23-24 Imbabura Real Estate Tour

Sept. 25-28 Ecuador Coastal Real Estate Tour

Join us with Jyske. Learn more about global investing, how to have an international business and diversification in Ecuador at the seminar.

Oct. 9-11 IBEZ North Carolina with our webmaster  David Cross & Thomas Fischer of JGAM

October 16-18 Ecuador Southern coastal tour (early sign up before Sept. 1, $499 per person).

Oct. 21-24 Ecuador Import Export Tour

Oct. 25-26 Imbabura Real Estate Tour

Nov. 6-8 IBEZ Ecuador Seminar

Nov. 9-10 Imbabura Real Estate Tour

Nov. 11-14 Ecuador Coastal Real Estate Tour

Attend any two Ecuador seminar or tours in a calendar month…$949 for one.  $1,349 for two.

Attend any three Ecuador courses or tours in a calendar month…$1,199 for one.  $1,799

Multi Currency Investment Seminar


The Multi Currency Investment Seminar conducted by Jyske Global Asset Management will be conducted  May 29 through 31. Details on this multi currency seminar are below.

Learn how to gain free attendance at this multi currency seminar and save $499 or $750.

Thomas Fischer wrote: Hi Gary,  I have spoken with the hotel you recommended  (Naples Beach Hotel) and they have offered me a rate of $159 excluding taxes so this is where we will have the seminar.

At the moment I have the following confirmed speakers:

Yourself
Michael Checkan
Joe Cox
John Mauldin

We will have four of our own people and perhaps a couple more.

Also as of today we can accept IRA and 401K’s at JGAM. We will create 3 new portfolios (low-medium-high risk) taking into account that tax is not an issue.

Here are the details:

Jyske Global Asset Management & Gary Scott  Invites you to participate in our Florida spring multi currency investment seminar .

When: 29-31 of May 2009

Where: The Naples Beach Hotel & Golf Resort
851 Gulf Shore Blvd North
Naples, FL 34102
239-659-430
http://www.naplesbeachhotel.com/

Multi Currency Investment Seminar Details:

DAY 1 MAY 29th
•    Evening Cocktail party

DAY 2 MAY 30th
•    All day presentations with scheduled breaks
•    Dinner

DAY 3 MAY 31st
•    Half day presentations
•    Lunch and Farewell until next time.

Multi Currency Seminar Fee: $499. ($750 for a couple)

Learn how to gain free attendance at this multi currency seminar and save $499 or $750.

Accommodation is to be settled directly with the seminar hotel.  Corporate rate for guests staying at the seminar hotel The Naples Beach Hotel & Golf Resort is $159.00 plus taxes. Please book directly with the hotel using the group name “Jyske Global Asset Management”  Reservations: 1-800-237-7600

Registration:    Please contact your Portfolio Manager or Thomas Fischer via email fischer@jgam.com tel. +1 866-602 –5426 (free-call).

Learn how to gain free attendance at this multi currency seminar and save $499 or $750.

Merri and I feel privileged to participate in this multi currency seminar and I want to mention the quality of the other speakers. I am really tickled to know each of these speakers so well.   This allows me to state with confidence that the data shared at this multi currency seminar will be really powerful.

John Mauldin: John is President of Millennium Wave Securities, LLC, an FINRA registered broker-dealer.  I have known and worked with John Mauldin for more than 20 years.  John came from a publishing background and specialized in finding money managers for his clients, with an emphasis upon hedge funds and alternative managers.  As an afterthought, in late 2000, he put his newsletter on the internet, starting with a thousand or so readers. It has grown to the point where today, his publisher sends the letter to over one and a half million readers each week. Compare this to my readership of 15,000 readers!

Michael Checken: Michael Checkan is President of Asset Strategies International, Inc. and I have known him even longer than John as he specializes in precious metals, foreign currencies, and overseas wealth protection.

I forst knew Michael when he was a Vice President at the Deak-Perera Group whihc in the 1970s was the nation’s oldest and largest foreign currency and precious metal investment firm.  Earlier, Michael was one of the first foreign exchange traders in the international department of one of Washington, D.C.’s largest bank.

Michael and his partners are editors of a newsletter that reaches 16,500 readers globally.  Michael is frequently quoted on TV.

Joe Cox: Joe has been my freind and attorney for more years than I care to remember.  He specializes in estate planning, insurance, trusts and taxation. He received a Juris Doctorate from the University of Tulsa School of Law, and a Master of Laws in Estate Planning from the University of Miami, School of Law. Joe is Board Certified in Estate Planning and Administration and in Taxation by the Florida Bar.

In addition to the Board Certifications, Joe is a Fellow in the American College of Trust and Estate Counsel. He is a member of the American and Florida Bar Associations, and is admitted to the Federal Appellate Courts and the United States Tax Court. Joe is a frequent speaker on tax planning topics such as income taxes, insurance trusts, irrevocable trusts and offshore asset protection trusts. He has also written articles and books concerning income tax and irrevocable trusts.

Joe is listed in Who’s Who in America and Who ‘s Who in American Law. Chosen by Florida Trend Magazine as one of the top 1.6% of lawyers in Florida and one of the top 34 Wills, Trusts, & Estate Planning lawyers. Chosen by Worth Magazine to be one of the top 100 attorneys in the Nation.

Among his community commitments, Joe has served many organizations in a leadership position. These include: Naples Community Hospital, Community Foundation of Collier County, YMCA of Collier County, Community School of Naples, Alzheimer’s Association, Forum Club, Senior Friendship Centers, Inc. He was named the Child Advocate of the Year.

To attend, please contact your Jyske Portfolio Manager or Thomas Fischer via email fischer@jgam.com tel. +1 866-602 –5426 (free-call).

Learn how to gain free attendance at this multi currency seminar and save $499 or $750.

About Jyske Global Asset Management Company (JGAM)

JGAM is an independent, but wholly owned subsidiary of  Jyske Bank… a well established bank with a history of over 100 years.

Jyske is Denmark ’s second largest bank, with 450,000 clients in Denmark and over 30,000 abroad.

Jyske Bank has over 23 billion euros in assets and also happens to be one of the leading multi currency traders in the world. The Danes have always been big multi currency traders because as a small naval country surrounded by England, Sweden, Finland, Russia, Germany, Norway and other countries…they have always had to deal in many currencies.

This historically gained multi currency expertise means that unlike most banks (that trade only eight hours a day) Jyske maintains a 24 hour global currency and commodity dealer service. Many other large banks use Jyske to handle their off hour currency positions. This means that Jyske is huge when it comes to multi currency activity. In fact their turnover reaches $50 billion dollars a day.

Let’s address this issue of safety in more detail. Normally this is a pretty moot point. Right now everyone is concerned. Is a bank safe or not? I like Jyske from a bank safety point of view because there are three bank safety points, from the top down.

Bank Safety Point #1: A recent Yahoo Canada article shows a survey by the World Economic Forum listed five safest countries in which to bank.

Canada
Sweden
Luxembourg
Australia
Denmark

So Denmark is a safe place to bank. Now let’s look at Jyske Bank’s safety rating.

Bank Safety Point #2: Jyske Bank is Denmark’s second largest bank.
On October 10 2008, Moody’s affirmed Jyske Bank’s long-term Aa2 rating stable rating. This decision came despite the deteriorated economic prospects in Denmark, particularly in respect of the property market.

Bank Safety Point #3: Also on Friday 10 October 2008, the Danish Parliament passed a bill that secured all deposits and unsecured claims against losses in Danish financial institutions. The rating of the Kingdom of Denmark is Aaa/AAA with Moody’s and Standard & Poor’s respectively.

That’s safe!

I happen to know Jyske Bank because I began using them (as my bank) over 20 years ago. They are one of the few banks that offers a special multi currency portfolio service for investors from almost anywhere in the world.

I was one of the first writers and publishers to begin writing about multi currency investing. Jyske bank was one of the first banks to offer a multi currency portfolio service…and they were my bank.

Not surprising we got together and have created a symbiotic relationship that can help you learn how to create multi currency portfolios that suit you.

Learn how to gain free attendance at this multi currency seminar and save $499 or $750.

Gary