[Homestead] Russians must be smarter than Americans
tvoivozd at infionline.net
Sun Sep 5 16:51:24 EDT 2004
According to Pravda, 98 percent of Russians distrust banks and there is
a current run on them in Russia.
Any American keeping any substantial amount of their assets in American
banks has to be out of their mind. First their bank account is subject
to government seizure at any moment for any (or no) reason. You will
never get it back if you do not have cash outside the banking system
for a legal defense of your assets, and you are dealing with government
entities with almost limitless funds who can and do swamp the average
citizen with limited assets for defense. Only if you are very wealthy
can you turn the tables.
So keep your money outside the U.S. I used to keep mine in the Foreign
Bank of Commerce in Switzerland. It is unsafe in Canadian banks who are
all in cahoots with the IRS.
More information about the Homestead