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IRA brokerage a...

IRA brokerage accounts

pianoman

1 posts

Joined
7/13/2008

IRA brokerage accounts
Posted: 13 Jul 08 3:46 PM Modified By pianoman on 7/13/2008 3:50:48 PM)

Hi, I'm new to this site. Considering the financial meltdown that is happening and the fact that the markets are manipulated my question is ... Would anyone advise pulling money out of their IRA early and taking the penalty hit in '09 tax return filing an extention for October 15?.....I am in the 15% tax bracket plus the 10% early withdrawal fee.makes it a 25% hit. My thinking is it would be worth taking the hit in taxes when one considers the dollar going to hell and silver going to $100-$500 ...which may seem unrealistic until one realizes the ratio of gold to silver is about 51 to 1 with gold $960 and silver $18.80.....I believe if history repeats the ratio will be 15:1 or the utopia ratio of 10:1 ...so if silver has a huge naked short postion that goes back years and the shorts are forced to cover because of the industrial demand an explosion will happen to silver ... when gold goes to $2,000. - $8,000 ...the ratio of 10:1 would be $2,000. gold $200 silver and possibly $8,000 gold $800 silver....Wow that one hell of a 10 to 40 bagger. So with this in mind I am wondering what you all think if I take my money out early and ... 1.Invest it in Physical silver 15% in personal possesion.... silver eagles and 1964 and before 90% junk silver 2. 50% in a allocated account in silver grams in their vault in London or Zurich... 3. leave some in my IRA and Roth IRA T.Rowe Price Brokerage accounts and purchase Silver wheaton (slw) ,which is not a miner but a holding company that gives money to miners in exchange for their silver at $4. oz . SLW has gone from $4 stock price in 2005 to $19 in March this year with a pullback to it's current price of $15 and is ready for a breakout . I would also take a junior miner (EXK) which is more of a speculation stock but has a good management and has started production in silver ... 4. I could leave some play money in my Scottrade account and invest in the above stocks... I would appreciate some input from this very informative Bog One other thought .. IRA are supposed to be insured up to $500,000 by the ?SPIC? but what if economy tanks big time and the FDIC and The SPIC don't have the money to cover the losses? You can see my concern....and I believe the fiat currency will be exchanged for a gold and silver backed money.... Pianoman

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General Discussion

Current Events/Off Topic Commentary

IRA brokerage a...