The enemies of cash are at it again…and again…and again. Around the globe the government solution to every crisis (made up or real) seems to devolve towards removing the ability of normal citizens to take their money and either leave or use it in a way not deemed “proper” by the powers that be. As we reported earlier, the only truly diversified portfolio is a portable one; this is why:
- In Venezuela, the Socialist regime wasn’t satisfied with just stealing Christmas like the Grinch, they removed all big bills from circulation within 72 hours to combat “the mafia.”
- In China, parents are worried that their children studying overseas will be cut off from any family money and left high and dry.
- In India, wealthy businessmen were forced to raid their children’s piggy banks in order to pay for tolls on the way to work, because the government outlawed big bank notes, virtually overnight! (They had to eventually relent on tolls, though, since the government always needs to get paid)
- And right here, in the United States, the IRS is moving aggressively to find out just who is using Bitcoin and other cyber-currencies by subpoenaing the customer files of a large online concern.
Just as a man who only owns a hammer looks at every problem as a nail, governments everywhere are looking at their power over fiat currencies as a blunt instrument to get their way. Ready access to your own wealth should be of the utmost importance as this trend continues unabated. Learn how to make your portfolio more portable here.