NEW LAWS, SAME OLD TOTALITARIANISM: CAPITAL CONTROLS:The Nazis used them. The Soviets used them.
Two More Reasons to Say ‘Thanks’ Before Waving Good-Bye to the US
by Jeff Berwick
This joyous holiday season, those still living in the US should give thanks for one thing: that it’s not 2012 yet. If you haven’t begun the countdown, now’s the time. And there’s not a whole lot left of it before it’s too late.
You see, the overlords in DC have a host of new disciplinary and capital-control legislation ready to be unleashed upon the populace starting in less than a month.
So, in celebration of the coming new year, here are two more reasons to move your assets out of the good ol’ “land of opportunity” immediately before 2012:
NEW LAWS, SAME OLD TOTALITARIANISM: CAPITAL CONTROLS
The Nazis used them. The Soviets used them. It’s not as if capital controls are a new idea. Atlas is shrugging. And the kleptocrats in Congress have been frothing at the mouth hoping that the public indoctrination system worked its magic and has blinded you to the obvious closing net around you so you can’t escape before it is too late. Before the capital controls soon to be unleashed by Obamacare, there was the aforementioned Dodd-Frank Act, and before that there was the HIRE Act, both of which “incentivize” Americans to keep their assets within the US.
A brief review: The Dodd-Frank Act, which has been in effect since July of 2010, prohibits U.S gold dealers from contracting with specified gold-supplying countries. Such prohibitions have probably already affected the price of gold. The fewer gold suppliers there are, of course, as demand continues to sky rocket, means the price continues to rise as well. There will be fewer (legal) gold dealers as our masters hope that Americans would tame themselves in light of such regulatory harnesses by investing in worthless domestic treasury bonds rather than looking for opportunities abroad. But wait, there’s more…