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  • From: Tvoivozhd <tvoivozd AT infionline.net>
  • To: homestead AT lists.ibiblio.org
  • Subject: [Homestead] Russians must be smarter than Americans
  • Date: Sun, 05 Sep 2004 13:51:24 -0700

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.







  • [Homestead] Russians must be smarter than Americans, Tvoivozhd, 09/05/2004

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