What options do we have if our savings is attacked?

In our previous post, we pointed out that for the first time ever, those despicably evil bankers want governments to heavily tax their own citizenry's savings accounts in exchange for receiving bailouts.

Today its Cyprus

In the near future it could be Italy --  Joerg Kraemer, chief economist of the German Commerzbank, has called for private savings accounts in Italy to plundered.

“A tax rate of 15 percent on financial assets would probably be enough to push the Italian government debt to below the critical level of 100 percent of gross domestic product,” (Handelsblatt.com)

Ultimately can be/will be the UK and US' citizenry who are financially raped because they chose to do the right thing and save while stupidly keeping their $$ in banks.

So.. what are the options?  How can one really protect oneself?

1)  Take your $$ out of the bank!

If we wanted to be funny, we'd list option #2 as 'Go to #1'

Whatever $$ is not needed for bills or perhaps a big purchase you expect to make in the Near future, should not be held in a bank... Forget FDIC-- That is insurance in case the bank collapses... Its not to insure against government seizure of your funds.

Right now, if you withdraw more than $10k out at one time its reported by the bank teller to the IRS so take $5k out.. or $8k...

If you have $20k in savings, this can be done in 3 bank visits...  If you have much more, then you will need to space it out over many weeks..

Sorry to cuss, but there is absolutely no reason those God-Damn banks should be holding on to your money... None...  except your fear of not knowing what else to do?

You are getting exploited... getting near zero interest while due to fractional reserve lending, they can lend out 10x the amount the the funds of yours they're holding and do so at interest rates of 5% or more...

Remember, fractional reserve lending was introduced into banking after the Panic of 1873 when banks were too dependent on savers and forced to give rates of return of 7-8%.  Now in order for a bank to lend say $100k, it only has to have physical possession of $10k..

This allowed banks to greatly expand their profit margin while minimizing the importance of needing savers' deposits.

Example: You have $10k in bank and getting .01% interest annually...  That equals $100 interest.  The bank then takes your $10k and multiplies by 10 to lend someone $100k at 5% interest... Annually that's a bank profit of $5000.

The bank made $4,900 profit off your $10k savings..

We know this will never happen because we're all pretty much sheep, but hypothetically, if every American adult with a bank account withdrew a mere $1,000, it would deprive these deeply Evil banks of possession of $100 billion, and when taking fractional reserve lending into the equation, deprive the banks of $1 Trillion in lending.

2)  If you hold a lot of savings, you may want to look at depositing some of your money in a foreign nation's bank like Canada who were relatively untouched and unhurt by the 2008 market crash and thus in much better economic shape than most and not in need of loans...

Or offshore accounts in the Bahamas or Caymans..

And why not?  What's good for the goose is good for the gander...

If corporations can do it and if its good enough for bigshots like Mitt Romney, why isn't it good for you?  But to research the particulars as to how to do this, you're on your own... Just Google it...

We know most people will ignore this post..   They'll ignore the warning and the advice and when they ultimately get fucked over we will just look at you with pity and offer condolences that 6-12% of your life savings was siphoned away to the government in a finger snap...

We've seen nothing like this before in the history of the world...  Every nation is massively in debt...even the so-called lender nations like China...  They're over-extended and wholly dependent upon cheap money via massive printing and extremely artificially low interest rates to keep the game going..

That is why the entire world is in a frantic competition to see how can devalue their currency the quickest vs other currencies.. A strong currency will get crushed severely in exports.

For example the swiss franc used to be super-strong.. Then corporations like Nestle complained bitterly to the Swiss government they were taking losses... Then the currency was pegged to the putrid euro.

When the plates stop spinning, they will crash and the populaces will be the ones expected to come up with the $$ to cover the losses... The banks will Never take losses..  The Fed will Never take one either..

But Ultimately its a free country (we think)-- do as you wish

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