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Post by sunny225 on Sept 18, 2023 3:22:38 GMT
www.zerohedge.com/crypto/1-warning-sign-capital-controls-are-coming-soon-and-4-ways-beat-themWeekends and holidays are the perfect time to catch people off guard… Like a street thug committing a mugging, capital controls blindside most people - otherwise, they wouldn’t be effective. The government declares a surprise bank holiday and shuts all the banks - mere hours after they denied they were even thinking about such actions. They impose capital controls to stop citizens from taking their money out of the country. Cash-sniffing dogs, which make drug-sniffing dogs look friendly, show up at airports and border crossings. At this point, your savings are like a lobster in a trap. It’s not hard to see what comes next… more at the link
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Post by Ozarks Tom on Sept 18, 2023 15:42:25 GMT
My guess has always been a hedge fund/big bank somewhere there's less oversight taking down the derivative market. It nearly happened a couple years ago when a hedge fund in Singapore defaulted to Goldman-Sachs and Citi Bank. Took them for billions overnight.
But yeah, it'll happen with no warning. Maybe a denial, but I doubt it, it's something that'll happen so quickly, probably over a week-end, that by the time news of a collapse somewhere the freeze notice is already written.
The only major fault I saw in the article was the recommendation of using Bitcoin as a safe haven. If there's a money freeze there's no reason to expect the Bitcoin system won't be shut down just like the banks. Just a few keystrokes from DC/CIA and it's frozen also.
The recommendation of having bank accounts and real estate in a foreign country works great from a millionaire, but us poor schlubs with a few thousand here or there aren't likely to be able to do that. My recommendation is to start or redouble prepping, have PM's physically under your control, and enough small bills on hand to cover immediate needs.
Oh, and expect chaos throughout the country when EBT/SNAP no longer functions, or is greatly reduced. Maybe beside those PM's some lead might be in order.
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Post by sunny225 on Sept 18, 2023 18:42:14 GMT
Yep, I don't trust bitcoin either. After thinking about it, there's not much I DO trust out there.
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Post by wildhorseluvr on Sept 18, 2023 19:48:54 GMT
Yep, I don't trust bitcoin either. After thinking about it, there's not much I DO trust out there. Same here. Getting less trusting by the day.
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