Capital Controls Are Coming
by Nick Giambruno
InternationalMan.com
The carnage always comes by surprise, often on an otherwise ordinary Saturday morning…
The government declares a surprise bank holiday. It shuts all the banks. It imposes 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.
At that point, the government is free to help itself to as much of the country’s wealth as it wants. It’s an all-you-can-steal buffet.
This story has recently played out in Greece, Cyprus, Argentina, and Iceland. And those are only a few recent examples. It’s happened in scores of other countries throughout history. And I think it’s inevitable in the U.S.
I believe the U.S. dollar will lose its role as the world’s premier reserve currency. When that happens, capital controls are sure to follow.
This is why it’s crucial to your financial future to understand what capital controls are, how they are used, and what you can do to protect yourself.
Why Governments Impose Capital Controls
Think of the government as a thief trying to steal your wallet as you (understandably) try to run away. With capital controls, the thief is trying to block all the exits so you can’t reach safe ground.
The Rest…HERE
