I have pleaded with investors for years to get their assets out of the banking system.One of the very few men who understands what is happening within the financial system has done the same. Time and time again he is both advising and imploring investors to protect themselves by getting out of the financial system and to own physical gold stored in private vaults in safe jurisdictions. Jim has also advised investors in detail how to achieve direct registration of their precious metals stocks.
“A BLACK HOLE IN ALL MAJOR AND SOME MINOR BANKS IN NORTH AMERICA AND EUROLAND”.
I fully agree with Jim’s statement. But investors must also remember that the world financial system is totally interconnected and a single problem in one major bank is likely to lead to a worldwide systemic problem.
Therefore due to the risk of contagion, any asset in any bank is at risk. The ultimate investment for preserving wealth is physical gold (and possibly some silver at the present ratio) stored in your name, outside the banking system in a safe jurisdiction and with direct personal access to your metals.
After the collapse of the Cyprus financial system I wrote an article called
“Get your Assets out of the Banks now”. Please re-read this article.
Please also remember that you cannot buy fire insurance after your house has burnt down.
Reprinted from Matterhorn Asset Management AG / Gold Switzerland.