Do You Have a Gold and Silver “Seatbelt”?…”You Must Own Gold and Silver When the Currency Is Being Debased”
David Smith
MoneyMetals.com
February 25th, 2015
In just about every state, it’s the law that you must wear a seatbelt when driving down the road. Putting aside the question of whether the government should mandate this, most of us understand that the reasons for individually choosing to do so are valid.
It’s been a long time since I’ve been in an accident, but it’s a habit to buckle up every time I get into the car. I don’t look back at my most recent trip and think “Gee, so far nothing has happened. So why did I bother wearing my seatbelt for all those years?”
Take a quick look at our financial system. Have things really improved since the entire global system almost went down in 2008?
Sure there have been “changes” – for example, your bank most likely has a “bail in” provision added to the fine print of your accounts, letting you know that if they go under due to their own mismanagement, you may be forced to help out with some of your hard-earned funds.
And try to withdraw a significant amount of money during a financial crisis – odds are you’ll be informed that you can only take out a relatively small amount per week, and oh, by the way “How do you plan to use that withdrawn money?”
Money market funds and “savings” accounts now pay virtually no interest, but (so far) that’s at least better than in some European countries, where hapless account holders actually have to pay the bank for the privilege of leaving money in their account.
Massive government debt.
Underfunded pension plans.
Trillions of dollars in artificial derivative trading vehicles created by over-leveraged banks, backstopped by Federal government printing of unlimited amounts of paper money.
The Rest…HERE
