elder assets and healthcare

[Freed Gerdes]

I concur completely with shikamaru, you need to convert some assets into unregistered wealth, such as precious metals. Large purchases of gold or silver will involve large money transfers, and I am sure those are of interest to the IRS, who snoop continually through bank records. But so the metals are registered, or at least traceable, so what? That only proves you bought them, not that you still have them. Maybe you gave them away, lost them playing poker, had a boating accident, whatever. Just don't put them into a bank safety deposit box, as these are routinely robbed, both by the bank and the IRS. The best defense against "they take all your money" is to give the money away first, as in some years before the need arises to divest assets. Current law allows gifts of $11,000 annually per person. So your mother and father can each give $11,000 to you and $11,000 to your wife. Substantial estates can be vaporized pretty fast at $44,000 per year, but you need to start soon enough, and maybe have some kind of 'plan' so it does not look like you are shifting assets to avoid financial responsibility. I have made the decision to take full responsibility for my own needs, thus I don't have Medicare, and won't have Obamacare either. If I need medical care, I pay for it; socialism is fraud and theft on a grand scale, and it encourages all kinds of less desirable behavior. Insurance is an honorable contract, available by choice; I choose to be self-insured.

Supposing your parents choose to gift you some assets, you are now trustee of their 'final health care trust,' and you need to find some way to protect the value of the assets from the ravages of the Fed and Bernanke, who are counterfeiting FRN's at alarming speed. Here is a good article from ZeroHedge listing some twenty currency devaluations that have occurred since 1930, worldwide; average devaluation about 50%, which occurs overnight.

link: http://www.zerohedge.com/news/2013-0...-gold-standard

The US has not had a default since 1933, but FRN's have lost over 90% of their purchasing power since 1975; inflation, which is the inverse of devaluation, is running at 11% per year, and has been since 2000*. Since all the central bankers worldwide collude in this transfer of wealth, no paper currency has any future value. Thus precious metals are the preferred store of value, but the bankers will fight to prevent this from becoming widespread, so metals are not risk-free, but over long times are the only money that has survived.

*From ZeroHedge: This is a really interesting way to put the current Dow in perspective. The Dow Industrials Index (stock market) bought 10,718 gallons of gasoline in March of 1999; today the Dow will buy 3,812 gallons of gasoline. Thus 35% of the original buying power remains...

Freed G