IMF Global Kill Switch

In Argentina in 2002 the government stopped people withdrawing money from the banks. Much of this was in US dollars and when they could get at their cash it had been exchanged for the pesos. Many lost large amounts of money:

A few months ago, Luis Gonzales was laid off from his job as produce manager at a suburban grocery store here. Like countless other Argentines who have recently joined the ranks of the unemployed, he took his severance pay–about $20,000–and put it in a savings account.

On Thursday, Gonzales awoke to find that the government was holding his money hostage. Under extraordinary new banking restrictions, he won’t be allowed to make any withdrawals until June 2003.

In the UK one of the heavyweight papers is The Telegraph. I don’t often read it as it is part of the globalist establishment. I was surprised to see this headline by The Telegraph’s economic reporter:

Now the warnings are flying in thick and fast:

Google searches on How to Buy Gold hits all time high:

I’ve also opened another bank account (current account) and in total have about fifteen accounts with my cash spread as thinly as possible. I know there are government schemes guarantee some deposits, but guess what? I don’t trust either the banks or the government!

I’ll be getting some more gold this week and look at adding to my stash of cash :blush:


Where do you hold the gold? Have you taken possession? (on a side note: where do you live and when do you go out for coffee?)



Many LatAm countries are going backward, when will Argentina sink to 2003?

The Captain

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From the link:

Sometimes it’s kind of relevant to panic. I would recommend you panic… You’ve seen the biggest waterfall decline in M2 right now. M2 is deposits, not loans. That’s the deposits fleeing the system and going into money market funds.

TPTB in their wisdom have that covered. With a US government debt default appearing ever more likely, those flows should reverse soon, with some minor leakage towards gold and Bitcoin…

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