Avoid Banking Holidays, Currency Controls and Devaluation

The Biggest Asset Protection Threat You Face Today (April 2010)

Banking Holidays – A banking holiday is when the government of a country closes all the banks in the country. The risk of a banking holiday now is severe in many places around the world. We have seen them recently in Greece, Iceland, Russian Federation and other countries. They can vary in duration. In the past we have seen major extended banking holidays like in Argentina in 2001. What happens is the banks do not open. The stores cannot process credit cards and will not take checks. You cannot get your money out of the bank or ATM machines. Sometimes you can only take very small amounts of money out of the bank or ATM on a given day. Sometimes money can only be taken out in the local currency which is plummeting at the time, no foreign currency withdrawals or conversions. One can have their wealth destroyed quickly if a bank holiday occurs and all your money is in that country. Of course one should keep enough money in cash on hand to function for a few weeks in case of a bank holiday. This cash can be used to buy gas, food, medicines etc. We have a solution, read on below.

What Would Cause a Bank Holiday – Any sort of major crisis that severely drops the stock market or devalues the currency can result in a sudden and abrupt closure of the banks in a given country. In a word Obama can cause a bank holiday with or without martial law. Terrorism, martial law or international war can readily cause bank holidays. The government does this to regroup and get an action plan together to try to minimize the damages in the face of a crisis. Of course the insiders who know this is going to happen can take unfair advantage and make vast fortunes overnight. We are showing you how to play the same game as the government insiders play. The dollar and the USA stock market is in a very precarious position being held up artificially by the federal reserve bank. If there is martial law in the USA or states start to secede you can plan on a currency crash and bank holidays, devaluation and currency controls. If states secede like many are talking about doing you can rest assured they will declare the debt to the federal reserve bank illegal and renounce it. This will drop the dollar as fast as a brick out of a window.

The FDIC may become insolvent and then goodbye bank insurance. Martial law is a very likely event in the USA and it implies a bank holiday and a stock market holiday. A war with Iran could have such an effect. A major terrorist event, false flag or real will also have a similar effect resulting in martial law. When the dollar goes it will take many countries down economically. The Euro is also being supported at levels above where it should be. The UK pound is facing major difficulties. If any major currency like the USD or Euro takes a sudden dive the results will be catastrophic and the banks and stock markets will be closed in many USD or Euro based countries. In our opinion such events are inescapable just a question of timing. Of course you could take the position that national leaders Obama, Brown and the others are fine capable, competent people worthy of your trust! If you believed that you would not be reading this would you?

Bank Holiday Protection – The answer is to have an offshore bank account. This bank account should allow you to hold several currencies in your account, five is a good minimum. It is easy to switch currencies back and forth online in seconds, with the bank we use for our clients. Thus if one or two currencies dive the others will increase in value and you will at least maintain your purchasing power this way. You might even come out ahead.

We prefer to use Hong Kong for this. Hong Kong (China) is in very strong financial shape today. They are a super power that cannot be pushed around. The bank we use is a trillion dollar bank and one of the top 20 banks in the world. The corporations are anonymous. There is no tax on offshore derived income, no capital gains tax and no inheritance tax. Think no taxes. You can have 10 currencies in your account and you can even own gold through the Hong Kong bank account. The bank accounts are insured in full by the Hong Kong government which is essentially China. There is bank secrecy. Hong Kong has no tax information sharing agreement with the EU, Canada or USA.

The bank account should allow you to have a credit card in more than one currency. Euro and USD are the currencies available for Visa cards in Hong Kong and these cards work in stores, online and in ATM machines around the world. You could also have a credit card in the Chinese Rinimbi as well but this card will only work in China and Hong Kong. The credit cards let you travel to a nearby country and access the ATM machines for cash in the nearby country not having the bank holiday or other problems. If in the USA think Mexico or Canada. If in EU think a neighboring nation. This is the best protection against such catastrophic events there is.

Remember if you are holding the currencies that did not collapse your buying power can go up by a lot if the currency in your country devalues. Fortunes will be destroyed as well as fortunes made overnight. Think of this as similar to taking short positions in the New York Stock Exchange stocks in 1929 before the crash. All you have to do is wait for it to happen and you can multiply your money over night. The diversification puts you in a position where it is almost impossible to not come out ahead. Think about it.

What Are Currency Controls ? – This occurs when a country out of desperation prevents money from leaving the banks of their country. Usually they focus on the hard currencies if the country uses a not recognized currency. This can also take the form of limits on bank withdrawals in that only so much money can be taken out of the bank on a given day by a person. This will result in a currency shortage and people will be selling things cheap to get cash fast. This sort of thing can last for weeks or longer and is devastating. If you are banking offshore you can frequently get cash from the ATM machines. You would have a credit card from a different country and the controls would most likely not be applied to you. They will want tourists and foreigners to be able to spend hard currency in their country. The cards issued from banks in the country with the trouble would be the ones having the controls imposed on them.

What is Currency Devaluation ? – This is when the value of a currency drops, sharply. It can be associated with a stock market crash, terrorism, war, government scandals, or any other major event including the government just wants to devalue. At times the government may switch to a new currency and drop the value of the old currency just prior to the switch. When you are dealing with fiat currency based on nothing, this is the sort of thing one should expect. You do trust Obama implicitly don't you? All fiat currencies based on nothing but the good faith of the government will eventually fail as the governments take advantage of the trust foolishly placed in them. The results of this are generally catastrophic and families get wiped out overnight. Keeping assets in an offshore bank holding numerous currencies protects one from be a victim of such events. The net effect is generally that those holding funds in different currencies offshore have their wealth greatly increased overnight.

Hold Gold in Hong Kong Bank Account – The bank we use in hong Kong has a stock brokerage division and through this division one can hold gold and other precious metals in their bank account. This is another way to protect against currency devaluations and bank holidays. One can buy or sell gold online in seconds using the online banking.

The Hong Kong Bank Account – We use an anonymous LTD Hong Kong Corporation to open the bank account. The time frame is 2-3 weeks. The cost is $3995 complete, complete including a virtual office address to receive mail and packages. The minimum deposit is $1000. For more information on the hong Kong Corporate Bank Account click here:

For more info on Hong Kong Bank accounts click here.

Summary – Lawsuits, divorce, bankruptcy, government confiscation of funds for fines, taxes etc are are still threats one faces. The biggest threat today is bank holidays, martial law, currency controls and currency devaluation. The threat level for most people is imminent. We feel offshore banking in Hong Kong anonymously through us can offset all of these threats. Feel free to inquire.

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