Is It Imaginable That Governments Would Confiscate Your Bank Account?

In this video featuring resource investor Rick Rule and sound money specialist Mike Maloney, both men discuss the high probability scenario in which governments will confiscate our bank accounts (or parts of it).

An interesting quote by Rick Rule: ‘The idea that we have, that we are absolved of responsibility for our own financial future – in other words: if we’re stupid enough to put money in a bank, that has too poor of an equity slice, the bank goes upside down….we’re unsecured creditors of a moron, which makes us a double moron. We ought to be punished for that stupidity.”

The underlying message is clear: physical precious metals outside the banking system have the huge benefit of carrying no counterparty risk. That benefit will not be perceived by the majority of people, until it’s too late. A one-second event could prevent people from a metals holding. As the saying goes: you better be 3 years too early than 3 days too late (or 3 seconds for that matter).

The video is short but a must-watch.

Receive these articles per e-mail

Subscribe for the free weekly newsletter and receive 3 papers about physical precious metals investing