Posted on 02/16/2024 8:37:55 PM PST by SeekAndFind
Weekends and holidays are the perfect time to catch people off guard…
Like a street thug committing a mugging, capital controls blindside most people—otherwise, they wouldn’t be effective.
The government declares a surprise bank holiday and shuts all the banks—mere hours after they denied they were even thinking about such actions.
They impose capital controls to stop citizens from taking their money out of the country.
Cash-sniffing dogs, which make drug-sniffing dogs look friendly, show up at airports and border crossings.
At this point, your money is like a lobster in a trap. It doesn’t require much imagination to see what comes next.
Once a desperate government has your money within its reach, it’ll find a way to take as much of it as possible.
Don’t be surprised if your local currency suffers a massive devaluation, bank deposits are suddenly worth a fraction of what they were just yesterday, or the government imposes an emergency tax.
Whatever the method or pretext, the outcome is always the same: a wealth transfer from you to the government.
This familiar story has played out in many countries in recent years. The pattern is clear and should surprise no one the next time it happens.
It’s all but certain governments in financial trouble will turn to capital controls as a desperate, misguided solution—with devastating consequences for ordinary people.
Argentina, Lebanon, Venezuela, Iceland, Greece, Cyprus, Turkey, Russia, Ukraine, China, India, South Korea, and governments in countless other countries have recently imposed capital.
The lesson from these examples is capital controls can happen anywhere and anytime.
Although it seems unthinkable to most, there is an excellent chance capital controls are coming to the US—they’ve happened before and could happen again soon.
Remember, in 1933, through Executive Order 6102, President Roosevelt forced Americans to exchange their gold for US dollars under penalty of 10 years in prison and a $10,000 fine (or more than $235,000 in today’s debased confetti).
Of course, the official government gold exchange rate was unfavorable. It amounted to around a 41% confiscation of purchasing power.
The US government continued prohibiting private ownership of gold bullion for 42 years until they reluctantly allowed the plebs to own it again in 1975.
So, there is a clear historical precedent for implementing capital controls in the US, especially during a crisis.
Today, it’s self-evident the fiat currency system centered on the US dollar is crumbling at an alarming rate.
It’s been over 50 years since Nixon ushered in the fiat currency system by severing the dollar’s last link to gold in 1971.
The fiat currency system is long past the end of its shelf-life, like a carton of spoiled milk.
Even the global elites running the system can see that and openly talk about what they want to come next.
That’s why there’s all this talk about a “Great Reset,”… and without a doubt, capital controls will be part of it.
All it would take is a crisis—real or contrived—or some other pretext and the stroke of the president’s pen on a new executive order.
Expect it to happen.
Capital controls are government restrictions on how people can use their money—something that should be abhorrent to anyone who believes in property rights and a free society.
Here’s how capital controls work…
Governments might allow people to buy foreign currency (or gold) only at an “official” rate that they set, which is always less favorable than the free-market rate. The difference between the fake official rate and the real free-market rate amounts to a wealth transfer to the government.
Another form of capital controls is steep taxes on international money transfers or purchasing foreign assets.
Governments could also flat-out prohibit ownership of foreign assets or moving any form of wealth outside the country.
No matter what flavor they come in, capital controls always help a government trap money within its borders so it’s easier for them to take.
A propaganda campaign is also necessary to gaslight people into believing such actions are required to protect the average person.
Expect politicians to make disingenuous claims to make them appear as saviors instead of aggressors.
The mainstream media will amplify this false narrative and demonize those opposed to capital controls as disloyal citizens or worse.
Capital controls are always a prelude to something worse.
That’s because once governments trap money inside a country, it’s probably only a matter of hours before there is wealth confiscation. Anything they don’t steal immediately, they box in for future thefts.
That’s why you must act BEFORE they impose capital controls.
How much time do you have?
While it’s impossible to know, acting well in advance is advisable. It’s better to be a year early than even a minute late.
However, there is one common feature I’ve noticed when countries impose capital controls that indicates the situation is imminent. It’s like someone waving a big fat red flag.
That warning sign is a government official denying that they are considering imposing capital controls.
Whenever you hear a central banker or politician say something won’t happen, you can almost be sure it will happen. And probably soon.
Coming from a bureaucrat, the real meaning of “no, of course not” is “it could happen tomorrow.”
It’s like the old saying: “Believe nothing until it has been officially denied.”
These deceptions have a purpose: Politicians and central bankers must surprise the public to get the desired results.
When you hear the official denial, you probably have only a matter of hours before they impose capital controls. Urgent action is required.
The solution is simple.
Place some of your savings outside your home country so it’s not trapped when the government imposes capital controls. It will be waiting for you safely on the other side.
Below are four ways you can do that.
First, obtain a foreign bank account. Capital controls imposed in your home country are unlikely to affect a bank account in another country.
Second, real estate in a foreign country is an excellent way to store significant capital abroad. Your home government won’t be able to seize it without a literal act of war.
Third, there’s Bitcoin, which enables anyone to send and receive value worldwide without relying on any third party.
Fourth, another solution is physical gold bullion coins held in a non-bank vault in a wealth-friendly foreign jurisdiction.
However, it’s crucial to emphasize that you should NOT put gold in a bank’s safe deposit box. They will be among the first targets if and when governments decide to declare a bank holiday and confiscate private wealth.
Holding the physical gold bullion in your own possession or a private non-bank vault in a wealth-friendly jurisdiction like Singapore, Switzerland, or the Cayman Islands is a good idea. (More on this below).
The current dollar-based monetary system is on its way out. Even the central bankers running the system can see that.
They are preparing for what comes next as they attempt to “reset” the system. It’s a virtual certainty they will impose capital controls.
I suspect it could all go down soon… and it won’t be pretty for most people.
We are likely on the cusp of a historic financial earthquake…
One that could alter the direction of the US forever and mark the biggest economic event of our lifetimes.
Yet few people are aware of what is happening.
And even fewer know how to prepare.
I was pretty proud of the $3 gold coin I got from my grandfather, imagining him to have held it illegally against FDR's gold confiscation orders (I tried to squash any mental comparisons to Bruce Willis's watch in Pulp Fiction). Later I found out that private citizens could keep $100 or 5 troy ounces each and that coin was about 1/7 of an ounce.
I’m aware of many who will “not take kindly” to what is being proposed by this post.
Not everyone is docile and prepared to shuffle their way towards the boxcars. Far from it.
That’s not to say that many, if not most, are passive and will bend over for their masters. My point being, there are more than enough “roughnecks” that will react violently when this occurs, and it will begin a confrontation that will cost many, many lives.
That warning sign is a government official denying that they are considering imposing capital controls.
Whenever you hear a central banker or politician say something won’t happen, you can almost be sure it will happen. And probably soon.
Coming from a bureaucrat, the real meaning of “no, of course not” is “it could happen tomorrow.”
It’s like the old saying: “Believe nothing until it has been officially denied.”
Heads up ping. Just FYI.
The problem with foreign anything is getting there and getting it.
If the government controls stuff, all the money and/or property in the world won’t help if you can’t access it,
What with what they are doing to the airline industry, and the border security that targets citizens and turns a blind eye on illegals, good luck with that.
And isn’t owning gold or gold coins illegal? Silver, brass, and lead are going to be better options. You can’t eat or hunt with gold coins.
This is first and foremost of importance.
We are only here on earth a short time and eventually all of us die and stand before God then eternity begins.
What we do here on earth IS important for a number of reasons, and before anyone accuses me of not taking this current situation seriously, I certainly am and watching and preparing as I can. However, I also realize that my time here is limited, of which I am becoming more and more aware the older I get, and while prepping here and now and doing what I can to stand for what's right can make a difference, planning for the truly long term reaps better benefits than anything here on earth.
True that a lot of OTC supplements, vitamins, and meds will become high value for barter. Basic first aid supplies and items for disinfecting and dressing wounds can prevent infection from a minor injury and be a matter of life and death.
Most people think in terms of gold, ammo, alcohol, cigarettes, and coffee, but there are other things, more life saving things as opposed to comfort things, that will be very valuable for barter.
And don’t forget salt. Salt is critical for survival and just where are most people going to be finding it locally? How many places in this country have salt supplies?
Two books I read bring up the issue of salt. Alas Babylon and the One Second After series.
Salt is cheap and plentiful now. I have stocked up on some and use old pasta sauce jars for storing it. I don’t want to tie up actual canning jars and the salt could corrode the lids, which will also become scarce when TSHTF. But the glass pasta jars work well as the lids usually have a built in gasket for sealing and while canning with them is out of the question in my book, they do seal very effectively for dry goods like salt and spices.
All points of your post are well taken. Remember that fewer than 1/3 of Americans fought in the Civil War, but those numbers alone were sufficient for a bloody, protracted war.
I will personally not go to boxcars. I think by the time we reach that point, it will be obvious who is friend and who is foe. The spark that lights the powder keg will be led by those who are much quicker to the trigger than me, but I will follow them to the gates of Heaven if that be the charge.
Bkmk
metmom (Post #26):" Most people think in terms of gold, ammo, alcohol, cigarettes, and coffee, but there are other things,
more life saving things as opposed to comfort things, that will be very valuable for barter."
"And don’t forget salt. Salt is critical for survival.. "
(from the article):
”Like a street thug committing a mugging, capital controls blindside most people—otherwise, they wouldn’t be effective. “
The government declares a surprise bank holiday and shuts all the banks—mere hours after they denied they were even thinking about such actions.
They impose capital controls to stop citizens from taking their money out of the country.
”Whatever the method or pretext, the outcome is always the same: a wealth transfer from you to the government. “
”This familiar story has played out in many countries in recent years.
The pattern is clear and should surprise no one the next time it happens.
...there is an excellent chance capital controls are coming to the US—they’ve happened before and could happen again soon “
“.. Remember, in 1933, through Executive Order 6102, President Roosevelt forced Americans to exchange their gold for US dollars under penalty of 10 years in prison and a $10,000 fine (or more than $235,000 in today’s debased confetti). “
“ Today, it’s self-evident the fiat currency system centered on the US dollar is crumbling at an alarming rate. “
“ ..Expect it to happen.”
The article includes in summary Form:
”Why and How Governments Impose Capital Controls “
“That’s why you must act BEFORE they impose capital controls. “
“ Four Ways To Beat Capital Controls “
” Conclusion ..“
The current dollar-based monetary system is on its way out.
Even the central bankers running the system can see that.
They are preparing for what comes next as they attempt to “reset” the system.
It’s a virtual certainty they will impose capital controls.c
”“Yet few people are aware of what is happening.
And even fewer know how to prepare.”
Yep.
FWIW, antique silver items can be found at thrift stores occasionally.
Ping
Hmmm interesting.
What puzzles and confounds me is that there does not seem to be ANY opposition to this “remake/reset/digital dollar” scheme/scam! I have searched high and low, and I am unable to find any person or group standing in opposition to it!
Virtually every group offering “advice” as to how to prepare for this “remake/reset/digital dollar” scheme/scam is accepting it as a done deal - i.e., they are not fighting it, but are just trying to sell me gold.
I am not interested in buying their gold - I am interested is stopping the “remake/reset/digital dollar” scheme/scam!
The Powers That Be are not interested in solving the problems they themselves have created — the “remake/reset/digital dollar” scheme/scam is just kicking the can further down the road!
I believe the President Trump has spoken to the issue and is opposed to it, but so far I have been unable verify.
Anybody know of a reputable group standing in opposition to TPTB “remake/reset/digital dollar” scheme/scam?
Monitoring
Monitoring
News Source :
https://www.cnbc.com/2023/03/15/long-awaited-fed-digital-payment-system-to-launch-in-july.html
" Key Points
FedNow, the Federal Reserve’s digital payments system, will debut in July.
The system will allow bill payments, money transfers and other consumer activities to move more rapidly and at lower cost."
[T]"he Federal Reserve’s digital payments system, which it promises will help speed up the way money moves, will debut in July.
FedNow, as it will be known, will create “a leading-edge payments system that is resilient, adaptive, and accessible,”
said Richmond Fed President Tom Barkin, who is the program’s executive sponsor.
"The system will allow bill payments, money transfers such as paychecks and disbursements from the government, as well as a host of other consumer activities
to move more rapidly and at lower cost, according to the program’s goals."
"Participants will complete a training and certification process in early April, according to a Fed announcement.
“With the launch drawing near, we urge financial institutions and their industry partners to move full steam ahead with preparations to join the FedNow Service,”
said Ken Montgomery, the program executive and first vice president at the Boston Fed, which helped spearhead the project under former Boston Fed President Eric Rosengren."
"Institutions that participate in the program will have seven-day, 24-hour access, as opposed to a system currently in place that closes on weekends.
Program advocates say it will get money out to people much more quickly. For instance, they said, government payments like those issued
in the early days of the Covid pandemic would have been credited to accounts immediately rather than the days it took to reach most people.
Some Fed officials say the program even could supplant the need for a central bank digital currency."
(My Opinion) : There appears to be no known opposition as this is another government 'overreach' which is being ignored by the political establishment
The looming debt problem has been continuously been "a can kicked down the road".
I believe that it represents 'normalcy bias' by the politicians, as very few are seriously concerned about the national debt, other than a small group.
Note That the only update to the original article is dated March 16, 2023, almost a year ago.
All I ever see is cheap silver plate. The good stuff gets sent to the high-end antique stores.
Yes, I got all of that, but is there any organized opposition to this control FReak madness?
But there is no way to really act
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