Dr. Gary North on the right, and Arianna Huffington of the Huffington Post on the left, are urging freedom loving Americans to move their funds out of the bailout banks to smaller local financial institutions who still make loans. I think this is a timely step in the right direction.
It is time that Americans began to vote with their money and tell the Wall Street bailout banks & the Federal Reserve paper dollar where to go. Why should we trust Merrill Lynch or the Bank of America and other bailout firms to handle our investments or even our day-to-day banking needs when both went technically bankrupt due to incompetence and mismanagement. They only survive because of billions in bailouts and guarantees paid for and forced on us, the American taxpayers by a Congress they have bought and paid for?
Personally, given the financial nightmare both political parties, Congress, Wall Street and the Federal Reserve have made with our economy to date and the future threat of a global repudiation of Washington Treasury obligations and the dollar, Americans should also take an extra step to secure a portion of their wealth. They should diversify a percentage of their funds internationally and get them outside the US financial system and dollar before the whole rotten system comes crashing down. It is still legal to diversify funds in gold, the Euro and Swiss francs as long as you follow all the reporting and tax requirements requirements for US citizens.
It is better to begin a program to secure a percentage of your wealth now outside the political and debt risks of the United States while you still have the opportunity because when the full-blown dollar and debt crisis develops, the doors will surely close for American investors.
Yes, an excellent New Years Resolution is to move your funds out of the bailout Wall Street banks and financial institutions as this and future generations will be saddled with this illegitimate debt and drain on the American economy for decades to come. But, second it is time to start small but begin to build a legal escape mechanism for a portion of your wealth to survive the coming dollar and debt crash which will happen sometime in the next decade.
I co-edit a weekly pro-liberty, hard money and Austrian economics newsletter in Switzerland called The Swiss Mountain Vision Newsletter and in this newsletter you can learn how to legally diversify some of your wealth outside the United States.
If you are concerned about the falling Washington dollar, the exploding national debt & the growing threat to our liberty, you can click and sign-up for a free subscription to the newsletter. Just type in “Ron Holland” when the form asks “How Did You Learn About Us”.
I urge you to make your New Year and New Decade Resolutions now and act on both before it is too late!