Since gold is the most commonly purchased of the four, the overarching term “gold IRA” is used most often as industry slang to mean a retirement account containing any combination of precious metals.Other terms such as, “precious metals IRA”, “silver IRA”, “platinum IRA”, or “palladium IRA” are also frequently used.A default on a scheduled federal debt payment, caused by the governments lack of funds necessary to service its debt obligations, could spark a fire sale on U. Treasury securities, prompt a sharp fall in the value of the dollar, and launch a rapid flight to quality as investors and dollar holders flee to the perceived safety of other nations bonds and currenciesall culminating in a U. Raising the necessary tax revenue would, for example, siphon off significant funds from businesses and households, thereby slowing the wheels of commerce and reducing household wealth.Printing moneyeither literally through the Treasurys issuance of more currency or figuratively through the Federal Reserves open market purchases of government securitieswould cause price inflation that distorts relative prices and makes them more volatile, reduces real incomes, undermines savings and capital accumulation, and creates political pressures for counterproductive remedies, such as wage and price controls.Selling Buried Treasure Any effort to assess the revenue potential of federal asset liquidation must start with an inventory of federal assets, including buildings, land, infrastructure, and mineral deposits.
Grounds for optimism come from an existing federal asset program. Fed Said to Have Emergency Plan to Intervene if U.  National Law Center on Homelessness & Poverty. So-called sin taxesthe taxing of certain products, like alcohol and tobacco, that are deemed to be politically incorrecthave long been a favorite way for politicians to fund programs benefiting special interest groups.
Non-profit organizations that purchase federal assets thereby gain the ability to manage those resources in a manner consistent with their missions, rather than relying on the indirect method of lobbying the government to treat those assets in ways they desire.
Conservation groups, for example, can gain the ability to maintain biodiversity in sensitive wildlife habitats and they can eventually choose to resell some of their holdings in order to finance the purchase of more environmentally significant natural resources.
Investors often use precious metals as a long-term hedge against inflation, to diversify their portfolio.
Internal Revenue Code requirements state that the approved precious metals must be stored in a specific manner.