The Time Has Come To Fully Diversify: Retreating From Banks And From The Dollar Itself

Monday, October 21, 2013
By Paul Martin

Survivalblog.com

The recent political crisis over the delayed raising of the U.S. debt ceiling was just a precursor of a much larger crisis that will occur when interest rates inevitably rise. Once they do rise, it will become impossible for the Federal government to service its debt without massive monetization and concomitant mass inflation. There may also be some draconian stopgap measures such as levies on bank accounts (a.k.a. “bail ins”), nationalization of private pension funds, nationalization or forced common stock purchases for IRA and 401(k) plans, currency controls, bank holidays, bank withdrawal limits, currency recalls, limited access to safe deposit boxes, IRA and 401(k) withdrawals limits, and perhaps even another ban on privately held gold bullion.

For the past seven years I have urged my readers to diversify their investments out of U.S. Dollars and into tangibles. I am now repeating that with an even greater sense of urgency. It is high time to deliberately draw down you bank accounts and stop rolling over your CDs. I now urge my readers to gradually withdraw as much cash as you can, leaving only as much in your checking accounts as you need to pay your monthly expenses and to make your tax payments.

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