Physical gold might be the best hedge against global uncertainties

Gold's role as a 'safe haven' asset in times of uncertainty is widely acknowledged, but according to the chief executive of The Pure Gold Company, it's all about how you hold it.

Physical stores of the precious yellow metal could prove far superior to the other growing varieties of gold holdings, Josh Saul told CNBC Friday, highlighting its security and tax benefits.

"Physical gold is motivated by people who want long term protection. The benefit of having physical gold is that you have a physical store of wealth, plus there are also several tax advantages," Saul said.

However, this all depends on who you are and where you store it.

In the U.K., investment grade gold coins are not subject to capital gains tax, meaning that U.K. residents do not have to pay tax on any appreciation in the price of their stash. This applies to some of Britain's most popular coins such as Britannias and Sovereigns, which are produced by the U.K.'s Royal Mint.

But, in the U.S., gold is treated as a capital asset and a collectible, meaning it is subject to capital gains tax. This is also true of parts of Europe.

"Given what we've seen in Europe with regards to Brexit implications, a lot of our (British) customers are getting their money out of Germany, France and Italy, for example, and into gold, whether they're living in the U.K. or not," Saul said.

He also noted the metal's attributes as a hedge against unpredictable monetary policies, economic risks and cyber-attacks.

These benefits are also what have caused gold to evolve from the somewhat antiquated bullion vaults of old, however. It is now available in various forms, including electronically and via exchange-traded commodity funds (ETCs).

Townsend Lansing, head of ETCs at ETF Securities, noted that gold ETCs can mitigate some of the associated costs of storing physical gold. Storage costs can add around 3-5 percent onto the cost of buying physical gold.

"Gold Exchange Traded Commodities (ETCs) supersede the inefficiencies of holding physical gold by their low costs, transparency and liquidity. ETCs are easier to manage, and are a cost effective way for investors to gain exposure to a commodity that would usually be expensive and risky to store," Lansing told CNBC via email.

Saul acknowledged that such vehicles can sometimes be more cost efficient for short term investors looking to "buy today and perhaps sell in a few weeks' time."

Germany's central bank this week announced that it had successfully returned over 50,000 gold bars to its vaults in Frankfurt.

The $27.9 billion dollar stash had been being stored at the Federal Reserve in New York and France's central bank, Banque de France, in Paris as a hedge against political and currency risks. But improved domestic politics following the end of the Cold War prompted Germany to launch a "thorough and exhaustive" operation to return the bars to the country.

Germany's Bundesbank is one of the biggest gold holders in the world. Saul said this points to the significance of having the physical metal as a cash reserve.

"I believe there is a reliance on them (Germany) having some sort of physical, tangible store of wealth, rather than relying on paper money that can be manipulated, created and devalued over time," Saul noted.

>>See more articles on CNBC.com

How credit unions help raise credit scores

In the aftermath of the Great Recession, many consumers are still regaining their financial footing.

To help, credit unions are offering more tools aimed at rebuilding tarnished credit scores. These tools include low-cost secured loans, free credit counseling and online debt management courses. And since credit unions are member-owned, they’re usually eager to help their members improve their scores or establish credit.

To accomplish this, credit unions are taking a consultancy approach to debt rather than trying to generate high fees for these services, says Paul Gentile, an executive vice president of the Credit Union National Association.

This approach to rebuilding credit can be crucial, since a big chunk of our credit scores are linked to our payment histories. Getting back on track credit-wise raises FICO scores, which lenders use to calculate credit risk. Better FICO scores can translate into lower loan fees, says Randy Hopper, assistant vice president of credit card lending at Navy Federal Credit Union.

However, rebuilding your score is no slam dunk. It takes patience and discipline. But to take advantage of a credit union’s tools, you must be a member, he says.

Here are four ways that some credit unions nurture your credit back to health.

Polish damaged scores with credit builder loans
Credit builder loans, which are usually given out in small amounts, help members rebuild their credit over time, says Ben Rogers, research director at the nonprofit Filene Research Institute. The number of credit unions offering these loans has increased since 2009, and they number almost 1,200 as of September 2012, according to Callahan & Associates.

For example, Digital Federal Credit Union in Massachusetts offers credit builder loans in amounts from $500 to $3,000 at a 5 percent interest rate. The loan amount is deposited into a savings account as collateral, and it can’t be touched. When the loan is repaid, the member gets the balance in the account, including dividends. Monthly payments are reported to credit bureaus.

Other credit unions such as Texas-based Randolph Brooks Federal Credit Union and Virginia-based Langley Federal Credit Union also offer credit builder accounts. But loan rates can vary widely, so it pays to check the fine print.

Get free credit counseling
Many credit unions offer free credit counseling without advertising it, Rogers says. For example, North Carolina-based Charlotte Metro Credit Union started its free credit counseling program two years ago. “Some of our members need help managing their finances,” says Susan Coughlin, electronic delivery and member retention manager at Charlotte Metro Credit Union.

As part of the program, Charlotte Metro Credit Union members are usually offered at least three credit counseling sessions, focusing first on cash flow analysis.

“Most people don’t understand their full financial situation,” Coughlin says. “We provide a good overview. This is a safe space.”

Members that take the program do eventually see increases in their credit scores, she says. “The counseling helps create a more financially healthy member,” she says.

Some other credit unions like Santa Cruz Community Credit Union in California partner with nonprofit agencies to offer free one-on-one counseling via phone or in a face-to-face meeting.

Take advantage of online tools
Credit unions offer many credit-building tools, says Sue Knott, a branch manager at Nebraska-based SAC Federal Credit Union. Her credit union has free online resources, such as a blog on credit repair that anyone can use. There’s also a free, downloadable e-book called “The Building Blocks of Credit” on the SAC site that covers the basics of building or rebuilding credit.

“It’s an online teaching tool,” Knott says.

Other credit unions like North Carolina-based Self-Help Credit Union have partnered with Balance Financial Fitness to offer free educational tools, such as online financial management, along with help from a toll-free information hotline staffed by certified counselors. And Madison, Wis.-based Summit Credit Union, along with others, links to a free online tool for paying off debt called SavvyMoney Checkup. By plugging in your financial data, you can set payment goals and get out of debt faster, says Rogers.

“You get a score and a road map,” he says.

Establish credit with secured cards
A secured credit card can be a creditworthy tool for people with little or no credit histories. Typically, a savings account is used as collateral against a credit card loan. Your borrowing power builds over time, as you make more deposits into your account. Many credit unions offer secured credit cards, so there are lots of choices. Some even waive annual fees and give you free credit scores.

“Secured cards are the first step for people who wouldn’t qualify for a regular credit card,” Rogers says. “However, credit unions usually don’t promote them. So you’ll have to check your credit union’s website.”

For example, Navy Federal Credit Union has its nRewards card. The minimum deposit to get the card is $500. After that, the card works like a normal credit card. Members earn rewards, and there’s no annual fee. The credit union also reports to all three credit reporting agencies.

“Lots of other secured cards can be expensive,” since people with low credit scores are typically charged higher interest rates and fees than people with good credit, says Navy Federal Credit Union’s Hopper.

Some credit unions like Utah-based America First Credit Union even offer secured credit cards with high limits. Its Visa card has credit limits of $200 to $15,000 and no annual fee. Still, there are some downsides to any secured card. Funds usually can’t be touched, and interest rates can vary widely.

Read more stories at Bankrate.com

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6 Student Loan Forgiveness Options You May Not Know About

Struggling to pay back your student loans? You’re not alone. Nearly 25% of the more than 41 million people with student loans are having trouble paying back their college debt, according to the Consumer Financial Protection Bureau (CFPB). For some, student loan forgiveness might be the answer.

Currently, student loans are the largest form of consumer debt in the United States after mortgages. The total amount of outstanding educational loans has exploded in the past decade, going from under $600 billion in 2006 to $1.2 trillion today. In 2016, the average graduate left school with $37,172 in student loan debt, according to Student Loan Hero. Although those loans might not be the drag on the economy and the housing market that some thought, at least some borrowers say they’re putting off major financial milestones in order to pay down their debt. About 30% of people under 30 with student loan debt said they’d put off buying a house or car, 19% had delayed getting married, and 14% had chosen to wait to have kids, a 2015 Bankrate survey found.

People have proposed various solutions to the student debt crisis, such as making it easier to take advantage of income-based repayment programs, lowering interest rates on existing federal student loans, and making it easier to discharge college debt in bankruptcy. But for some borrowers, a solution to the problem already exists. It’s called student loan forgiveness – free money to pay off your student loans. (Well, almost free; depending on the type of student loan forgiveness you receive, you may have to pay income tax on the balance paid on your behalf, though some people in Congress are working to change that.)

Full Story >>Here

Multi-state lottery jackpots grow to combined $738 million

Multi-state lottery tickets are pumping out of state lottery ticket machines throughout the United States this week, as both Powerball and Mega Millions have simultaneously reached astronomic heights.

After nobody won Mega Millions on Tuesday and Powerball on Wednesday, the Mega Millions jackpot increased to $382 million, while Powerball leaped to $356 million. The lump-sum cash options are $238.3 million and $224 million, respectively.

UPDATE: On Thursday afternoon the Mega Millions consortium raised the estimated Friday jackpot to $393 million, with a cash value of $246.5 million. That makes the combined value of Mega Millions and Powerball this week $749 million, and raises the Friday Mega Millions jackpot to the 17th-largest of all time. The jackpot amounts in the remainder of this article will reflect the new jackpot amounts.

Lottery players are witnessing an event that has never happened before. It is the first time in history that these two mega jackpot games have synchronized their jackpot rollovers such that they both are above the $300 million mark.

Full story >>HERE

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Local Credit Union Gives Back to Oregon Schools

Originally founded as Portland Teachers Credit Union in 1932, OnPoint Community Credit Union remains committed to helping Oregonians save money and providing low-cost loans to those of us who just need a little hand up.

OnPoint Community Credit Union has been serving the Portland, Eugene, and Vancouver communities for over 80 years. And as of 2011, they have expanded to cover 13 Oregon Counties and two more counties in Washington.

OnPoint Community Credit Union cares for their communities and proudly does their part to help important causes and events such as KGW’s 2017 School Supply Drive and AIDS Walk Portland. For this year’s AIDS Walk, they have already raised over $5,000!

You can rest easy that your money is safe, as every OnPoint Community Credit Union account is insured up to $250,000. OnPoint is member-owned and constantly reviews and revises their products and processes so that they can always provide the best services with the highest integrity.There is a host of OnPoint Community Credit Union locations around Portland, Eugene, Redmond, and more – all of which can be found here.

To learn more about their member-focused services and how you can sign up, visit their website here.

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Bitcoin splits, but clone off to slow start

Bitcoin's underlying software code was split on Tuesday, generating a new clone called "Bitcoin Cash," but the new virtual currency got off to a slow start due to lackluster support for its network. The initiative was headed by a small group of mostly China-based bitcoin miners - programmers who essentially operate the bitcoin network - who were not happy with scheduled improvements to the currency's technology meant to increase its capacity to process transactions.

These miners, who get paid in the currency for contributing computing power to the bitcoin network, initiated what is known as a "fork" on Tuesday, where the underlying blockchain splits into two potential paths, creating a new digital currency.

The blockchain is a shared online ledger of all bitcoin transactions and has spawned a range of financial and business applications. >>Full Story Here

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