from Sovereign Man:
Let’s take a moment to compare the world today to before the Global Financial Crisis struck roughly eight years ago. In this short period of time, US federal government debt has DOUBLED.
The Federal Reserve now holds $2.4 trillion of that debt, up from $479 billion.
Interest rates, which were between 2-4%, are today just a hair above zero. The Federal Deposit Insurance Corporation, which is expected to guarantee bank accounts, now has liabilities 530% greater than the cash and cash equivalents they are holding, compared to just 14% before the crisis.
Meanwhile, the banks that were deemed “too big to fail” 8 years ago are now even bigger, yet engaging in similarly foolish practices and accounting tricks.
In “saving” the system, all governments did was prevent anything from being actually fixed.
And in the process, they exhausted all the tools at their disposal.
The system is more precarious than ever, and eventually these bankers’, politicians’, and bureaucrats’ bad decisions will catch up with them.
To prevent your life’s savings from being the victim of others’ stupidity and misjudgement, one important (and obvious) step is to consider moving a portion of your savings into a safer, more stable jurisdiction abroad.
How can an overseas bank account see you safely through crisis? Let me explain—
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