They are after our money. State and Federal taxes are rising rapidly. Bail-in already established.
Despite the stump rhetoric, the political class is not interested in fostering a vibrant commercial life to help you and me get by in this world. Instead, it is interested in extracting as much revenue as possible from the existing commercial environment. The government elites want their cut, regardless of the consequences.
– Jeffrey Tucker, If it Moves, Tax It, April 29 2013
Not only are TPTB jacking up taxes on “the rich,” they are targeting your savings as well.
News on Cyprus’ large depositor’s confiscation of funds is in an MSM black out for obvious reasons. Money knows what herculean event has occurred to large depositors in Cyprus.
A reporting black out will not make the history-making event go away
Very temporary capital controls have historically gone on for significant periods. Capital controls and bail ins will grow and reach your home. If you do not exit the system, you will not be able to exit the system.
– Jim Sinclair, Large Depositors In Cyprus Flushed, April 29 2013
Out of the dollar and out of the banking system. Out of the country too, if you have a large net-worth and see where this is headed. Most Americans will not exit the dollar or remove their funds from the banks. Those who do will be looked at as rather misguided and crazy. You know, like a Goldbug.
Bail ins are coming everywhere. If you are not out of the system soon, you are not getting out.
– Jim Sinclair, In the News Today, April 29 2013
Larry Edelson is certainly consistent. Today he wrote that those of us who tell people that gold is going up and now is the time to buy it are doing so to feather our own nests. I think that is rather insulting. I purchased $50k worth of gold myself since the fall, and have not sold one ounce. Somehow I can’t fathom that people like Jim Sinclair, Richard Russell, Jim Willie, Gerald Celente, Ted Butler and dozens of other notable newsletter writers I bring to your attention are pitching gold and silver to sell product.
Most of us sincerely believe what we say and act accordingly for our own well-being. I know for a fact that Andy Hoffman and Andy Schectman are buyers at these prices. We think it is the right thing to do and promote it because it is in your best interest. Edelson, on the other hand is selling paid-for subscription to his newsletter, and his angle is to get you to believe you need his advice and technical analysis in order to succeed. His view is that before gold moves up in earnest, it will first drop to $1,030. The recent gains, he says, are nothing more than a dead cat bounce.