Governments Are Stealing Money

When there is existing debt in any nation’s financial system public confidence takes an impact even as recovery attempts are being made to create additional fiat currency.

There is the prevailing picture of pretending that everything is right by the actions that are currently being taken in Greece and by European officials to preserve capital across continents.

However, what we discover in the response in Italy is rather disturbing. Customers frozen out of their accounts, no ATM withdrawals, no bill payments, and the lockout simply rolled out overnight to customers.

In Greece, the government is pulling money out of customer accounts and relieved of their funds without any banking administrative notifications. All on the grounds of suspicion of being a tax cheat. In response to this action, citizens are pulling $125 million each day out of the Greek banking system.

The government has exercised capital flow restrictions under policies pointed at their borders. They can take a variety of forms, including:
— Implementing a suspension on international bank transfers
— Preventing the occurrence of any foreign exchange transfers
— Implementing a fixed bank withdrawal amount without administrative notices
— Transferring government debt to banks and forcing citizens to hold the amount.
— Placing a fixed exchange rate on market based transactions.
— Criminalizing the purchase or ownership of precious metal accounts.

The government through these policies is in effect causing the wealth to transfer from the people to taxation and resulting in raising inflation. These same capital controls have been in place for several decades from the 1970s and are seen as a normal part of the government economic landscape.

As the European financial leaders propose additional plans for furthering capital controls it also leads citizens to believe that there are no additional economic signs that need to occur to implement them.

So in looking over the European eurozone nations a significant capital debt problem ballooning out of Spain, Portugal, Italy, Greece, France to come next. The United States is also in a similar recessionary state with their out of control debt.

What measures can be taken to combat the global capital controls and the seizing of bank accounts?

The precious metals market is always an option and provide the savings insurance on the purchase and have the added benefit of no annual or maintenance fees. Combined with the security of not being confiscated and is certified. Opening a foreign precious metal savings account I recommend Karatbars International for offshore keeping. Then the added benefit of the product is on the LBMA market and certified by the Swiss government for authenticity. An added bonus for a 1 gram 24 Karat product.

In addition, should the country of which you reside present a difficult situation for your social well-being, seeking residence in a foreign country of stability is a good option. Knowing the political system, the financial exchange of currency, and stability of your currency in exchange, is vital in considering alternative residency.

One important note to point out is the government system of where you are looking for consideration, you will want to know if they allow the purchase, ownership of land and dwelling. Including what the exchange factor will be on your fiat currency to the local currency is a vital concern especially if there is a point in which the government system where you currently reside is about to implode.

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