Publié par : crise2007 | novembre 5, 2007

What to do BEFORE the financial melt-down and Depression occur…

What to do BEFORE the financial melt-down and Depression occur…

Before it takes a suitcase full of Dollars just to buy a sandwich – as happened during the German Weimar Republic in 1920 – as a result of debasing the currency by creating excessive credit (liquidity) out of thin air and running the Dollar printing presses night and day, ONLY the hoarding of GOLD and certain precious metals will save your hide…

Once the US Dollar collapses, the Euro will become the International Reserve currency of choice, for a while, that is… However, the certain collapse of the illiquid OTC Derivatives (just like the defunct mortgage backed securities) worth some $450 TRILLION – the yearly GDP of the US is ONLY $13.5 Trillion in comparison – will eventually cause a worldwide financial melt-down at any time between now and the next 18 to 24 months…

http://www.thelion.com/bin/forum.cgi?tf=wall_street_pit&msg=1197218&cmd=read

It cost 2.4 cents to print a $100 Dollar bill and this is its true and intrinsic value. The same goes for all the other FIAT (Latin for: ‘to believe in’) paper currencies…

Expect most banks to go belly up when depositors try to get their money out to buy Gold or items of tangible value: since banks only keep as cash on hand between 10 and 12% of monies deposited, only one customer in 10 or 12 will get a refund. Of course, the  Federal Deposit Insurance Corporation (FDIC) designed to deal with the occasional bank failure will be unable to cope in such situation…

The US government will probably declare a State of Emergency and prohibit the ownership of Gold, forcing citizens’ holdings to be surrendered, as it previously did in 1933 until December 1974.So, what to do???

Firstly, realize all the cash you can by selling all that is not essential and change it into Euros to provide some temporary relief from the crashing Dollar. I advised this move here about 3 years ago, changed all my cash at US$.95 = 1 Euro and now have a 50% currency gain at $US1.45 = 1 Euro. I also maintained local currency stock trading accounts in Canada and Australia that provided similar currency leverage…

Then, try to find a bank that will provide a SEGREGATED account – one where your money is NOT part of the assets of the bank when it’s being liquidated – to keep your funds in a CD rolling over weekly until you assess the next move…

To buy Gold and keep it safe out of Uncle Sam’s clutches, here are a couple suggestions:

1) Safely buy, then store your Gold with a reputable vault professional in Zurich, for instance:

http://www.bullionvault.com/

I have already used their services and have no complaint, so far. The buy/sell spread is reasonable, commission is minimal and so is the storage cost…

2) Open an offshore account in a country close-by, perhaps the Bahamas, and rent a safe deposit box. Use Kitco, for instance, for your bullion purchases and deliver the goods yourself while taking a little break from work…

https://online.kitco.com/bullion/completelist.html

3) Buy yourself a quality safe and store Gold and Silver coins for convenient trading, while ignoring any potential declaration of prohibition…

In conclusion, don’t wait for the run on the banks to begin, as by then it’ll be too late to save your bacon…

source : http://www.thelion.com/bin/forum.cgi?msg=1206778&tf=wall_street_pit&cmd=read

Publicités

Laisser un commentaire

Entrez vos coordonnées ci-dessous ou cliquez sur une icône pour vous connecter:

Logo WordPress.com

Vous commentez à l'aide de votre compte WordPress.com. Déconnexion / Changer )

Image Twitter

Vous commentez à l'aide de votre compte Twitter. Déconnexion / Changer )

Photo Facebook

Vous commentez à l'aide de votre compte Facebook. Déconnexion / Changer )

Photo Google+

Vous commentez à l'aide de votre compte Google+. Déconnexion / Changer )

Connexion à %s

Catégories

%d blogueurs aiment cette page :