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overtheedge
Membre depuis mai 2012
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Cash Withdrawal Limits and “Bank Holidays” Coming? - Mark O'Byrne - gold.ie

Consider the case of the USA. It has a legal tender law.
What if companies, corporations and individuals refused to accept direct deposit, refused to accept checks and demanded currency?
Ashes, ashes, the banks fall down.

Now in keeping with the concept of moving to a cashless society and the threat of electronic banking shutting down for just a few weeks, what better way to force the currency back into the vaults of the banks never to see daylight again?

The premise that gold and silver markets being shut down is nonsense.
1. There isn't enough gold and silver available to matter.
2. In keeping with #1 above, there isn't enough gold and silver in private hands to warrant seizure. It is only cost effective for large holdings; ETFs, etc.
3. Gold and silver are not currency. Nobody is going to take their family to McD's and spent a $50 Buffalo on burgers and fries.
4. Do you honestly think politicians and higher level technocrats are going to give up their gold? Do you really think that they don't hold part of their portfolio in gold and silver?
5. How much of a gold and silver market will remain when disposable income continues to drop? If you have no surplus funds at the end of the month, how much gold or silver can you buy? How many will be forced to sell portions of their meager holdings to continue to fund their profligate lifestyle?

Everyone is biased towards their own future revenue stream. Tis time for you all to start thinking for yourselves. Everyone's first responsibility is to themselves and theirs. The analysts are no different. How many are suggesting that you lay in a few week's worth of groceries before buying PMs? Anything can disrupt the just-in-time delivery system: hurricanes, earthquakes, bank holidays, etc. Grocery stores no longer have large stock rooms with a week or more of groceries. Store what you eat, eat what you store aka cycle your food stores.

Look at Cyprus. Look at Greece. Can you pay your bills and eat on such a low allowance? How about on no allowance for several days or weeks?
Do as you inevitably will. I don't wanna hear any whining about responsibility. You are directly responsible for yourself. Man up and deal with it.

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Début de l'article :Cash Withdrawal Limits and “Bank Holidays” ComingConcerns that next crisis may be imminentBail-ins, withdrawal limits and negative interest rates may be imposedFT proposes a ban on “barbarous relic” cashCentral banks would have people “completely under their control” – BonnerGold in safe jurisdictions will again protect wealthCollapsing commodities prices, erratic market turmoil and the bursting of Chinese bubbles are leading to a crisis in confidence in the economic system across the globe. The... Lire la suite

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