Why You Might As Well Be Painting A Giant Bulls-Eye On Your Bank Account

Tyler Durden's picture

Authored by Simon Black via SovereignMan.com,

Vegetarians be forewarned… you won’t like what follows.

We slaughtered a pig yesterday at the farm. I have two freezers full of pork now, and countless strips of bacon curing in the kitchen.

I’ve written about this before– out here at the farm I’m able to organically produce almost everything that I eat… meat, eggs, rice, nuts, and just about every kind of fruit and vegetable imaginable. A lot of it gets canned and stored.

We even grow wheat which we turn into organic flour, plus oats and all sorts of other grains.

As I’ve described in the past, this is a pretty powerful feeling. I know that, no matter what happens in the world, I’ll always have a source of food.

And even if it’s all rainbows and buttercups from here on out, I get to eat clean, organic food. There’s hardly any downside.

Invariably as I meet people throughout my travels around the world, I’m always asked why I spend so much time in Chile.

I usually tell them about my business ventures here and that I founded a company that’s rapidly becoming one of the largest blueberry producers in the world.

But when I talk about the farm and growing my own food, people often respond with furrowed eyebrows and a hint of derision– “Oh, so you’re, like, preparing for the end of the world…”

It’s as if embracing a little bit of independence and self-reliance requires paranoid delusion and chronic pessimism.

Fortunately I’m no longer in middle school, so my decisions aren’t based on what the cool kids might think.

In truth I’m wildly optimistic about the future.

Yes, there will come a time when bankrupt western governments will have to suffer the consequences of their reckless financial decisions.

And if history and human nature are any guides, there will also likely be more war… whether it’s conventional, cyber, or financial.

Financial markets will spasm and crash. Then soar to new highs. Then crash again. And forever continue this boom/bust cycle.

But despite these challenges, our species has unprecedented access to technology and opportunities that were literally inconceivable just a few decades ago.

The fact that you’re even reading this was completely unimaginable when I was a kid growing up in the early 1980s.

So, yeah, plenty of challenges before us. But the future is bright for anyone with the common sense to acknowledge these risks and the willingness to take basic steps to reduce their exposure.

It’s not about fear or paranoia. Normal, intelligent, rational people have a Plan B, especially when certain risks are so obvious.

Example- if you happen to be living in the most litigation-prone, lawyered-up country that has ever existed in the history of the world… a place where frivolous lawsuits abound and horrendous penalties are the norm… WHY ON EARTH would you hold 100% of your assets, income, and livelihood there?

You might as well paint a giant bulls-eye on your bank account.

Similarly, if you’re living in a country where the government, by its own financial reports, admits that it is flat freaking broke, why put yourself in a position where they can so easily pillage your savings?

If your country’s pension fund (i.e. Social Security) announces that it is running out of money, isn’t it just plain old common sense to start independently saving for your own retirement, outside of that broken pension system?

If there’s a Category 5 hurricane heading anywhere near your location, doesn’t it make sense to have a few days of nonperishable food and water… just in case?

For that matter, doesn’t it make sense to have a bit of food and water on hand even without a hurricane in the neighborhood?

It’s hard to imagine you’ll worse off for having a small supply of water in the basement.

Maybe you never need it. Big deal.

But if the day comes that you ever do need it, it will be too late to go down to the grocery store and pick some up.

This is the hallmark of a great Plan B. These steps are utterly simple. Cheap. Sometimes even free. And have absolutely zero downside.

But should you ever need it, these tiny insurance policies can make a world of difference.

That’s not fear or paranoia. It’s just smart.

Do you have a Plan B?

If you live, work, bank, invest, own a business, and hold your assets all in just one country, you are putting all of your eggs in one basket. You’re making a high-stakes bet that everything is going to be ok in that one country — forever. All it would take is for the economy to tank, a natural disaster to hit, or the political system to go into turmoil and you could lose everything—your money, your assets, and possibly even your freedom.

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Mr. Pain's picture

"You’re making a high-stakes bet that everything is going to be ok in that one country — forever. All it would take is for the economy to tank, a natural disaster to hit, or the political system to go into turmoil and you could lose everything—your money, your assets, and possibly even your freedom."

 

Then fuck it. Its over. Be graceful and fucking die! At my age I no longer give a fuck!

J S Bach's picture

Keep as little fiat currency in your bank account as possible... only enough to pay your bills.  Get everything else converted to some sort of physical/tradable asset.  And I wouldn't recommend bitcoin as a safe haven.  You're better off going to Vegas and putting it all on the roullette wheel - black or red (I prefer the colors silver and gold).

DownWithYogaPants's picture

Seems like this is an extended Simon Black ad.

( regardless of the truth of what he might be saying ) 

Urban Roman's picture

Now, he's living on a farm.

Seems like not too long ago, he was recommending a different third world shithole every other week or so.

.. I guess I'd have to subscribe to his mailing list to keep up. Or not ..

stacking12321's picture

spoken like a true americunt

he looks for good investments wherever they are...whether some whiny bitch like you considers a country where the investment is found, to be a "shithole", is irrelevant - the only thing that matters is risk and reward.

maybe when you grow up you'll understand, kid.

HockeyFool's picture

Exactly, because shitholes are the safest place to hold assests.

scintillator9's picture

Speaking from experience, DO NOT put it all on Black or Red, for there is also that GREEN 0 and 00 which skews the odds in the house's favor.

My friend and I were playing the odds on the table with that until we got hit with 00 Green.

So, we foolishly figured what are the odds of that happening again.

Fortune was rather cruel to us that night, for it hit on green AGAIN.

We looked at each other, then at out now depleted pile of chips, and walked away.

At least the drinks were "free".

 

Dwain Dibley's picture

News Flash - YOU DON'T HAVE ANY "FIAT" IN YOUR BANK ACCOUNT, NOBODY DOES.

Deposit accounts are nothing more than accounting records of how much "fiat" the bank owes to each deposit account holder, they are all a record of bank debt, there is no "money" or "fiat" in any of them.  The only "fiat" the banks have is in their vaults, which is about $74-Billion in total, or about 3% of total demand deposits held.

MONEY

Future Jim's picture

Oh, no! I had better buy some land in another country. I wonder if Simon Black can help me with that ...

Nostradumbass's picture

AFAIK, Simon Black does not deal in foreign real estate though he happens to own some in Chile and perhaps other places. If it is good for the j00ze to hold more than one passport, why shouldn't we?

lasvegaspersona's picture

I refuse...

Sure god hears our plans and laughs...I'm planning anyway....Stay in shape (BIG #1) ... keep dough away from thieves...keep an interest or two in things that require only you. Keep an eye out for paradigm shifts...they'll make you or break you.

phatfawzi's picture

in the morning this site is very usefull because you get a lot of articles that move markets. At night and weekend all fucking gloom and doom. Yes, the end of the world will come one day and if you buy all the gold in the world you'll have a chance to survive. 

phatfawzi's picture

your sex? 

 

see how dumb your question is. where is the relevance?

phatfawzi's picture

don't you have more gold to buy? the end of the world is nigh. 

thinkmoretalkless's picture

That's true freedom. Every year that goes by I experience more of a sense of De Javu. Starting to realize less things matter as time goes by.

Lets Buy The Dip's picture

you are right, then there are the pepe that say the economic will crash this year, but the price of coper is up and recoving. 

see the chart here ==> http://bit.ly/2hHfN90

That would be interesting to see. But i think from birth we lost our freedom, if you are awake we know the world is run by the elite. 

 

ET's picture

Gold and Silver in private storage.

Be your own bank.

Silver Savior's picture

That was exactly what I was going to say. It is so obvious but people still don't get it. It's so obvious it's like hitting everyone in the head with a hammer and they are still oblivious to it. 

Pure Evil's picture

The government has the power to nationalize anything, from land, to your food preps, to privately stored items, no matter where you live.

Its your army against theirs.

stacking12321's picture

what a retarded cop-out.

and the sun has the power to go supernova and burn the earth to a crisp.

so, what's your point, throw your hands up in the air and say it's hopeless?

that's victim talk.

go ahead and be a victim if you want, it's your life.

tmosley's picture

That's not being a bank. That is being a depository.

If you want to be your own bank, you have to have crypto in your own wallet.

You can also be your own central bank by mining crypto.

WillyGroper's picture

crypto is being a suppository.

 

tmosley's picture

No, you are thinking of gold, when you have to get it across a border without having it confiscated.

Be sure to get the rounded taels. 

devnickle's picture

What happens to your bitcoin when the power goes out for weeks, months, or possibly years?

tmosley's picture

You can go ice surfing in Hell, pulled by flying pigs.

Buddha 71's picture

crypto in your wallet ? when the shtf ? no electricity = no crypto.

tmosley's picture

No electricity also means that gold is worthless.

If all you care about is the shit hitting the fan, build a long term fallout shelter with a thousand years worth of diesel to run it. 

Fact is that TSHTF doesn't last long, and usually you can just WALK out of it if you don't care about your physical possessions (IE gold and silver). When you get somewhere else, just get access to the internet and your money is waiting for you, worth far more than it was a year before.

Nostradumbass's picture

No electricity also means that gold is worthless.

 

TIMELINE - Gold's history as a currency standard Gold bars are pictured at the Ginza Tanaka store in Tokyo October 23, 2009. REUTERS/Issei Kato/Files

Reuters - Leading economies should consider readopting a modified global gold standard to guide currency movements, said World Bank president Robert Zoellick.

Following is a timeline on gold’s use as medium of exchange.

2010: Zoellick proposes return to a gold standard, arguing that a replacement is needed for the current system of floating exchange rates that has been in place since 1971 breakdown of the post-war Bretton Woods System, in which the dollar and other currencies were tied to the value of gold.

2002: The Gold Institute Board of Directors votes to dissolve.

1999: The euro, a pan-European currency is introduced, backed by a new European Central Bank holding 15 percent of its reserves in gold.

1990: United States became the world’s second largest gold producing nation

1987: World stock markets suffer sharp reversal on October 19; volatile investment markets increase gold trading activity. The World Gold Council is established to sustain and develop demand from endusers of gold

1981: Treasury Secretary Donald Regan announces the formation of a Gold Commission “to access and make recommendations with regard to the policy of the U.S. government concerning the role of gold in domestic and international monetary systems”

1980: Gold reaches intra-day historic high of $870 on January 21 in New York and by year end closes at $591.

1978: The weak U.S. dollar propels interest in gold. By act of Congress, the U.S. abolishes the official price of gold. Member governments are free to buy and sell gold in private markets.

1975: Trading in gold for future delivery begins on New York’s Commodity Exchange and on Chicago’s International Monetary Market and Board of Trade.

1974: Americans permitted to own gold, other than just jewellery.

1973: On February 13, the United States, devalues the dollar again and announces it will raise the official dollar price of gold to $42.22 per fine troy ounce. Dollar-selling continues and finally all currencies are allowed to “float” freely without regard to the price of gold.

By June, the market price for gold in London has risen to more than $120 per ounce. Japan lifts prohibition on imports of gold.

1971: “Nixon Shock” U.S. President Nixon ends dollar’s link to gold established under Bretton Woods Agreement. Dollar became the sole backing of currencies and a reserve currency for the member states.

On Aug 15, U.S. terminates all gold sales or purchases, thereby ending conversion of foreign officially held dollars into gold.

In December, under the Smithsonian Agreement signed in Washington, U.S. devalues the dollar by raising the official dollar price of gold to $38 per fine troy ounce.

1968: London Gold Market closes for two weeks after a sudden surge in the demand for gold. The governors in the gold pool announce they will no longer buy and sell gold in the private market.

A two-tier pricing system emerges: official transactions between monetary authorities are to be conducted at an unchanged price of $35 per fine troy ounce and other transactions are to be conducted at a fluctuating free-market price.

U.S. Mint terminates policy of buying gold from and selling gold to those licensed by the U.S. Treasury to hold gold.

Gold backing of Federal Reserve Notes is eliminated.

1961: Americans are forbidden to own gold abroad as well as at home.

The central banks of Belgium, France, Italy, the Netherlands, Switzerland, West Germany, the United Kingdom and the United States form the London Gold Pool and agree to buy and sell at $35.0875 per ounce.

1954: London gold market, closed early in World War Two, reopens.

1945: Gold backing of Federal Reserve Notes is reduced by 25.5 percent.

1944: The Bretton Woods agreement, ratified by the U.S. Congress in 1945, establishes a gold exchange standard and two new international organizations, the International Monetary Fund (IMF) and the World Bank.

The new standard involves setting par values for currencies in terms of gold and the obligation of member countries to convert foreign official holdings of their currencies into gold at those par values.

The system was set up to help rebuild the international economy as World War Two still raged. The main features were for each country to adopt a monetary policy that maintained the exchange rate of its currency within a fixed value (plus or minus one percent in terms of gold).

1942: President Franklin D. Roosevelt issues a presidential edict closing all U.S. gold mines.

1934: The Gold Reserve Act of 1934 gives the government the permanent title to all monetary gold and halts the minting of gold coins.

It also allows gold certificates to be held only by the Federal Reserve Banks, putting the U.S. on a limited gold bullion standard, under which redemption in gold is restricted to dollars held by foreign central banks and licensed private users.

President Roosevelt devalues the dollar by increasing the price of gold to $35 per ounce.

1933: To alleviate the banking panic, President Franklin D. Roosevelt prohibits private holdings of all gold coins, bullion and certificates.

1931: Great Britain abandons the gold bullion standard.

1929: Great Depression, Wall Street Crash.

1925: Great Britain returns to a gold bullion standard, with currency redeemable for 400-ounce gold bullion bars but no circulation of gold coins.

1914-1919: A strict gold standard is suspended by several countries, including United States and Great Britain during World War I.

1913: Federal Reserve Act specifies that Federal Reserve Notes be backed 40 percent in gold.

1900: The Gold Standard Act places the United States officially on the gold standard, committing the United States to maintain a fixed exchange rate in relation to other countries on the gold standard. This lasted till 1919, when World War I forced both the United States and Britain to suspend it.

1873: As a result of ongoing revisions to minting and coinage laws, silver is eliminated as a standard of value and the United States goes on an unofficial gold standard.

1848: California Gold Rush triggered when John Marshall found flakes of gold while building a sawmill.

1837: The weight of gold in the U.S. dollar is lessened to 23.22 grains so that one fine troy ounce of gold is valued at $20.67.

1817: Great Britain introduces the sovereign, a small gold coin valued at one pound sterling

1816: Great Britain officially ties the pound to a specific quantity of gold at which British currency is convertible.

1804-1828: North Carolina supplied all the domestic gold coined by the U.S Mint in Philadelphia for currency.

1803: Gold is discovered at Little Meadow Creek, North Carolina, sparking the first U.S gold rush.

1799: A 17-pound gold nugget is found in Cabarrus County, North Carolina, the first documented gold discovery in United States.

1792: The Coinage Act places the United States on a bimetallic silver-gold standard and defines the U.S. dollar as equivalent to 24.75 grains of fine gold and 371.25 grains of fine silver.

1787: First U.S gold coin is struck by Ephraim Brasher, a goldsmith

1700: Gold was discovered in Brazil, which became the largest producer of gold by 1720, with nearly two-thirds of the world’s output.

Isaac Newton, as Master of the Mint, fixes the price of gold in England at 84 shillings, 11.5 pence per troy ounce. The Royal Commission, comprising of Newton, John Locke and Lord Somers recommends a recall of all old currency, issuance of new specie with gold/silver ratio of 16-to-1.

The gold price thus established for over 200 years

1377: England shifts to a monetary system based on gold and silver

1284: England issues its first major gold coin, the florin. This was followed shortly by the noble and later by the angel, crown and guinea.

1284: Venice introduces the gold ducat, which soon becomes the most popular coin in the world and remains so for more than five centuries.

1066 A.D: With the Norman Conquest, a metallic currency standard is finally re-established in England with the introduction of a system of pounds, shillings and pence. The pound is literally a pound of sterling silver.

50 BCE: Romans began issuing a gold coin called the aureus.

560: The first coins made purely from gold are minted in Lydia, a kingdom of Asia Minor.

1091: Little squares of gold are legalized in China as a form of money

1500: Gold became recognized as a standard medium of exchange for international trade as the immense gold-bearing regions of Nubia made Egypt a wealthy nation. Ancient Egypt left behind a rich legacy of gold.

Sources: National Mining Association and World Gold Council

here

here

Compiled by Lavrina Lee

Our Standards:The Thomson Reuters Trust Principles.
runswithscissors's picture

Brass and Lead in private/hidden storage

Be your own armory.

 

Silver Savior's picture

Yep all that fiat dollars are is an asset in decline. As a central bank I know.

Newspeaktogo's picture

So much doom porn these days. The end is near.

lasvegaspersona's picture

The doom porn is increasing...cuz the end IS near....

Oliver Klozoff's picture

Here's some moooaaarr dooom porrrn.....

https://www.youtube.com/watch?v=Q6TlvZ-Y4Ow

30 hour Earth exposure to massive CME = Grid failure probability rising sharply.

83_vf_1100_c's picture

Probably not but they say you can see the Aurora tonight as far South as Ohio/Indiana.

Hari_Seldon's picture

Why don't you try a real Solar Physicist like Dr. Tamitha Skov instead of this youtube idiot?

RightEdge's picture

Doom porn is in a bubble. Just like everything else.

robertocarlos's picture

Pork is NOT good for you.

lasvegaspersona's picture

pork kay no?

If we aren't supposed to eat it...why does it taste so good????

lasvegaspersona's picture

pork kay no?

If we aren't supposed to eat it...why does it taste so good????

robertocarlos's picture

I watched some cooking show with the sound off, Men Cooking with Fire or something and they had a 500? pound hog dressed and pressed between two large metal frames. It was flatter than a pancake.

totenkopf88's picture

whatever, Muhammad- that's just more bacon for me

Korprit_Phlunkie's picture

Thats why I only eat ham and bacon.