Ed Koch wrote, “In action be primitive; in foresight, a strategist.”
I’m a practical person. When it became obvious that we were in for a long, hot summer, I bought a a few big fans. We’re already using them. If you’re going on a hike through a desert, you take water. Today, Americans have 41% of their financial assets in stocks, matching the high in 2007 and trailing only the Internet bubble. And try to wean themselves off stocks, the habit is proving impossible to kick. And now Bloomberg Business announces: “Americans Can’t Sell Stocks Fast Enough as Rally Tops Flows” and “Greek ETFs plunge as investors fly blind in New York, Frankfurt.”
Is it time to pull your money out of your bank? Last November in Brisbane, Australia, “President” Obama agreed with G-20 global economic leaders that you no longer own your bank accounts. The United States (as well as NZ and Australia, to name a few) now regards your bank account as an asset that, in effect, belongs to your bank and can be seized by the government to pay bank debts and obligations.
In other words, in times of a financial collapse, the banks will seize our bank accounts never to be seen again. Another move that was attempted to sneak past us as depositors, I mean try asking your bank how safe your money is and see if they are prepared to inform you of this fact.
The bank we used to trust to safeguard our money has become one of the riskiest places to put it. And that financial collapse is nearly upon us! The danger signs are looming as we watch the Greeks queuing up at ATM’s and banks trying to withdraw their funds.
One day, entirely unexpectedly, perhaps very soon, you will be informed that your paper money is no longer worth anything unless it is exchanged for the new money at a bank – with one third the value (if you’re lucky) of your existing paper money. It’s the only way left for America to escape complete financial, economic, and social collapse. The only way around this is to turn your paper money into gold now – before it is too late.
If this kind of headline from June 28 of this year doesn’t freeze the blood in your veins, you’ve been moving your paper money into gold:
JUNE 28, 2015
Photo: People waited outside an A.T.M. in Athens on Sunday to withdraw money. Credit Alkis Konstantinidis/Reuters
ATHENS — Greece will keep its banks closed on Monday and place restrictions on the withdrawal and transfer of money, Prime Minister Alexis Tsipras said in a televised address on Sunday night, as Athens tries to avert a financial collapse.
Ask immigrants who escaped with their lives and some of their money from the Belgian Congo, now the Democratic Republic of Congo. The bloodshed and massacres were repeated after that in Northern Rhodesia, now Zambia, then Rhodesia, now Zimbabwe, and finally in South Africa. There is a pattern to these things. Jews started leaving South Africa in 1976, creating new lives in first world countries. I only left in 1997, and now it has become too late for many. Forward thinking people learn from the past. Adapt, or die.
Look at the history of failed paper currencies (fiat currencies) – every one in history has failed – there are no exceptions. When the dominoes start falling, it’s almost too late. And they have started to fall. Greece is the canary in the coalmine, and it’s dying, folks. Gold is the only real money. Everything else is a weak substitute.
These heartbreaking pictures of elderly people lining up outside Greek banks sum up the chaos in Greece right now.
You’ve been warned.
Robin Elliott LeverageAdvantage.com