It's a slippery slope from the devaluation of a barrel of oil to the devaluation of the US Dollar. Thanks to the Dodd-Frank Bill, our 401K accounts will slip-slide away from us, not only in value, but also as our own property. Everything we have worked for and saved for can be taken to pay to bail-in the financial institutions. Our lost money goes to pay millionaires salaries and benefits.
As in other countries where this has happened, we won't hear about it in the news until it's too late to do anything about it. For instance, do you know the European Union passed an official bail-in clause into law on January 1st? A pensioner living in Rome recently lost 100,000 euros when Banca Etruria took over accounts to save itself. The pensioner wrote a note criticizing the transaction before committing suicide. In offering his condolences to the family, Prime Minister Matteo Renzi said the move of taking money from 130,000 depositors was necessary to save jobs. Three other Italian banks took the same action. Does this look like capitalism to you?
Off-shore banking is not about hiding wealth, nor is it only for people with more money than us. It's a tool for protecting our future. Find out about it. Just don't look to Europe for security.
Read. Learn. Take defensive action.
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