Imagine for a moment that you woke up today and read The Silver News Surfer Report only to discover the Government has levied your bank account by 10% as a measure to raise money for their financial woes. Imagine that the civil unrest was so great that Obama has signed an executive order and declared a bank holiday 6 days and you can’t get any money for the simple incidentals such as food for your family or gas for your car.
Could the dilemma in Europe happen here in the US? I believe that it can and I also believe at some point it will and you or I can do nothing about it. I don’t want you to be so complacent that you don’t think any of this could happen. I’ve always been a proponent of “hope for the best, but plan for the worse”.
I have had several calls yesterday asking “what can I do to protect y wealth from being snatched up like in the case of Cyprus? The answer is more simple than you think. My recommendation to this individual was as follows…
First, look at your current savings accounts, CD’s and money market funds. If you are over-weighted in cash and you well know that the interest you are being paid does not even equal the FED’S so called 2% inflation target rate, then you need to move some of that money into hard assets and keep it away from the banking system.
Let’s say that you can dedicate $100,000 for purchasing silver. I recommend that you take $40,000 of that money and have physical delivery of silver in different denominations, then take the $60,000 remaining in keep it in a liquid precious metals program where it is stored in an independent depository which is outside the banking system. Now, you have some home and some stored.
The silver at home is used for barter in cases where there is a bank holiday and can be used for incidentals, because whether you think you can’t eat silver or not, just go to your local grocery store on the corner and start asking test questions such as “will you take silver coins for purchases?” I can virtually guarantee they will say yes.
Second, the silver stored in a depository is used for liquidity. If there were to be a Bank holiday here in the US and lets say that the bank is closed, you can call upon your precious metals dealer and request either more silver or the cash equivalent.
This strategy is used and should continue to be used as a means of insurance for you and your family. I hope it never comes to this, but again, this strategy is used as the “what if” scenario and should be taken seriously. I’m sure the citizens of Cyprus didn’t expect to wake up to see their accounts levied by 10% either and with over 140 executive orders signed by President O – you never know whats next. “Once you are aware, only then can you prepare!”
Jim Sinclair – Cyprus Disaster Is Much Bigger Than Being Reported – As is the case with anything that the mainstream media reports, we can virtually guarantee that this story IS much bigger than being reported. So if this story has you concerned with what you’ve been told on the news… than you can double or even triple your concerns! Here are both commentaries from Jim Sinclair…
Today James Turk told KWN there are bank runs happening in Europe once again. Turk also believes this is a wake-up call to all bank depositors around the world. He also stated that physical gold and silver buyers have now become more aggressive and are in a position to overwhelm the manipulators and central banks because of the Cyprus theft. Here is what Turk had to say in this exclusive interview:
After The Banksters Steal Money From Bank Accounts In Cyprus They Will Start Doing It EVERYWHERE – Cyprus is a beta test. The banksters are trying to commit bank robbery in broad daylight, and they are eager to see if the rest of the world will let them get away with it. Cyprus was probably chosen because it is very small (therefore nobody will care too much about it) and because there is a lot of foreign (i.e. Russian) money parked there.
MUST READ – Here is the BEST KEPT SECRET IN THE FINANCIAL WORLD TODAY – Imagine for a moment that here was a secret kept from you over the years by everyone that you trusted and respected. Imagine that this secret could have preserved your wealth and created more generational wealth than you ever thought possible. Imagine for a minute your portfolio could have been up 600% in the past 10-12 years and you didn’t have to care about Europe’s problems, the debt issues here in the US.
Imagine for a moment that all the while you were making 600% on your retirement money that you could sleep like a baby knowing that your money was as safe as it could be without any risks that we see today in the banking system… How would that make you feel? Don’t get caught up in the “hindsight is 20/20” verbiage that I hear so much. Silver and gold has far outpaced any other investment vehicle on the planet today and yet only 1% of the worlds money is in the to shiny metals!
Why were you not told about this by your financial adviser? Why were your questions about it dismissed like you were crazy for wanting silver and gold in your portfolio and not at a measly 10% holding… more like 30-40%? This is why AGAIN, it is so important for today’s investor to have multiple advisers in their particular field of expertise – you can still do it… it’s not too late!
I believe that the returns we have seen over the last 10-12 years will be realized again in silver and gold, but this time, do to extraordinary measures in the lack of faith and confidence in today’s financial system, banks and governments, we will see the same returns or greater over the next 2-3 years.
Allow me to help you position yourself for this period of time so you are not standing at the airport when your ship comes into the dock!