> Homeland Security To Confiscate Bank Safe Deposit Box Contents
24 January 2006, 04:57
I am not sure I find this credible, but in principle it is very possible and likely.
In the event of a collapse of the US economy, I don’t see myself marching to the bank to take my gold out. I would assume, as in the 30’s or Argentina more recently, the banks would simply lock their doors and we would be told that no withdrawals are allowed or any kind.
If you believe such a scenario is possible, and you are worried about getting a little petrol or something to eat, heat, transportation, or protection, it would be much smarter to have store small denomination gold coins in a safe place outside of any bank. In this situation, gold could be $1000 or likely more an oz. How can you purchase food or petrol with a coin worth $1000? What will you take for change?
In this situation, people will be forced to use other media of exchange, such as medicines, batteries, cigarettes, drugs, ammunition, guns, radios, sex, or who knows, maybe even bottled water.
Large stores of gold aren’t going to be much good for daily needs. As protection against larger dimensions of economic collapse, it would be best to go offshore. Be sure there is a way to access your money that does not involve wiring it to a US bank, because this will not be permitted. Get a checkbook or debit card that can be used in Canada, Mexico, or Europe. Don’t forget, when the dollar collapses, it will drag half the world into the toilet with it. It’s not like the US is going to get a loan from the World bank for a bail out.
I am not sure I find this credible, but in principle it is very possible and likely.
In the event of a collapse of the US economy, I don’t see myself marching to the bank to take my gold out. I would assume, as in the 30’s or Argentina more recently, the banks would simply lock their doors and we would be told that no withdrawals are allowed or any kind.
If you believe such a scenario is possible, and you are worried about getting a little petrol or something to eat, heat, transportation, or protection, it would be much smarter to have store small denomination gold coins in a safe place outside of any bank. In this situation, gold could be $1000 or likely more an oz. How can you purchase food or petrol with a coin worth $1000? What will you take for change?
In this situation, people will be forced to use other media of exchange, such as medicines, batteries, cigarettes, drugs, ammunition, guns, radios, sex, or who knows, maybe even bottled water.
Large stores of gold aren’t going to be much good for daily needs. As protection against larger dimensions of economic collapse, it would be best to go offshore. Be sure there is a way to access your money that does not involve wiring it to a US bank, because this will not be permitted. Get a checkbook or debit card that can be used in Canada, Mexico, or Europe. Don’t forget, when the dollar collapses, it will drag half the world into the toilet with it. It’s not like the US is going to get a loan from the World bank for a bail out.