Financial Options Not Available to Americans
Americans are not being offered many of the financial options available to customers of financial institutions and financial advisors in other countries.
For example, Koreans can hold their savings in gold accounts, like the Gold Riche Account available at Shinhan Bank. Savings are tied to the price of gold. Customers can purchase gold in 100 gram, 500 gram or 1000 gram bars.
So many Korean customers were exchanging their KRW for gold, the Korean government took notice and early in 2011 raised the tax on profits gleaned from these accounts from 10% to 15%, effectively throwing cold water on this investment vehicle.
Why did the Korean government take this step? Selling un-backed currency and buying hard assets, real money, like gold, increases the paper money supply and contributes to inflation. Buyers of gold are not causing inflation, the printers of paper "money" are causing inflation. In order to hide the inflation, governments do everything they can to limit the options available to those wishing to unload their paper currencies. Hence the raising the tax rate 50% from 10% to 15%.
South Koreans, and expats living in South Korea, can also hold their funds in several different currencies: the Swiss franc, the Japanese yen, the British pound, etc. Can’t do that in the United States. Strictly the Federal Reserve Note, which is decreasing in worth, year after year.
The Chinese Agricultural Bank, one of the top four Chinese banks, on November 25, 2011, launched its “Gold Savings Project,” and created a Gold Mutual Fund in an “effort to bring gold to the (Chinese) people.” Customers of ABC Bank can purchase gold in amounts as small as 1 gram. They can keep their savings in paper gold or withdraw gold bars. With purchases as low as 1 gram available, even customers with low purchasing power can have access to gold.
The important take-away-point is this: the Chinese government is encouraging its billion plus population to invest in and save a precious metal – gold.
Gold, despite what Ben Bernanke wants Americans to believe – is real money.
A vitally important question for all Americans to ask themselves is this: why, since 1964, when all US dollars were backed by silver, has the US been discouraging Americans to own precious metals such as gold and silver?
Why is gold referred to as the “barbarous relic,” when the fact is gold has been money for over 6000 years?
Not only is the US government discouraging the holding of gold, so are those whom many Americans look to for financial advice and planning: certified financial planners.
This author has personally contacted dozens of “certified financial planners” whose business is protecting, preserving and building their client’s wealth. They were asked, “Do any existing regulations prohibiting them from offering their clients the option of purchasing precious metals as a means of diversifying their portfolio?”
Not a single financial consultant contacted dared to even answer that question. None of those contacted, by the way, as far as this author is aware, offer their clients the precious metals option. This is despite the fact that precious metals have out performed paper assets over the last ten years.
The suggestion was made that these financial advisors offer their clients precious metals through a system explained here.
Once someone spends extended time outside the unprotected borders of the United States, and realizes citizens in other countries have options available to them not being made available to Americans, once one looks back at the forest, if you will; one begins to realize that these lack of options to protect, preserve and increase the wealth of average Americans is not a mistake on the part of those who are leading the country down the path to financial ruin.
The bailouts of the “too big to fail” banks and the collapse of MF Global and the loss of millions of dollars of client’s funds in segregated accounts, are but two examples of the ruination taking place and we need not list more, most aware Americans are all too familiar with the long list of other examples that could be cited.
It is our intent here at FleeAmerica to bring to the attention of those Americans who are waking up to the reality facing all Americans, the facts they need to make intelligent decisions about their future and the future of those they cherish.