Cahnman's Musings has been familiar with Kevin Freeman since we read his book Secret Weapon last year. Thus, it heartens us to hear Freeman speak approvingly of Rep. Giovanni Capriglione's effort to establish a gold bullion depository in the state of Texas. Freeman writes:
The most asked question after people grasp that we are in a global economic war is “What do I do with my money?” Now, it is a pretty astounding revelation to understand that the next global war, or more precisely the one we are in now, is not fought with tanks and planes. It is fought with money and computers. It is not a cyber war as so many have thought. It is an economic war and cyber is simply one of the many battlefields.It makes us breathe just a little easier knowing that Kevin Freeman favors these efforts.
It wasn’t a cyber attack that doomed Cypriot depositors to lose 10%, 30%, or 80% of their deposits over 100,000 Euro (or however it ends up). No, it was bank failures and the pressures of the International Monetary Fund, the World Bank, and the European Union. These were terms “handed down.” No computer needed in this case.
Of course, there is a massive cyber battle underway. In fact, just last week may have been the largest attack in history. Here at home, JP Morgan Chase depositors logged on to their accounts recently only to see zero balances across the board. We have been told that this wasn’t hacking but rather a computer glitch. but, it could have been hacking and that is the point.
Once someone realizes that this is a global economic war they understand that their bank accounts, life savings, stock holdings, and even currency could come under attack. The immediate response is to ask how to protect your money. Unfortunately, there is no “one size fits all” answer. The reality is that no single approach can work.
The reality is that gold has been confiscated in the past and could be confiscated in the future. If the IMF can raid Cyprus-held bank accounts, do you believe gold bars in your home would be immune?
It is interesting to note that the state of Texas may ask for their gold to be held in the state. A new bill sponsored by Giovanni Capriglione and supported by Governor Rick Perry may pave the way for one place to possibly hide. If successful, this bill opens some interesting possibilities as mentioned by Jim Rickards, best-selling author of Currency Wars. [Rickards has been featured extensively warning of the risks of a dollar collapse. He led a war game effort in the Pentagon that showed how Russia and China could destroy our currency.]
Update: Apparently, Kevin Freeman helped craft this plan.