Wednesday, August 12, 2009

They Are Building a Damn Financial 'Berlin Wall'

Jeff Snyder writes:

Possibly the most unequivocal sign that distinguishes a totalitarian system from a relatively free society is the simple right to leave. In totalitarian societies, the "iron curtain" falls, and "citizens" are not free to leave. The people and their assets are effectively property of the state. They, and everything they produce, are "human resources" that belong to the government. The "citizens" are more accurately described as prisoners confined within their national borders.

The US government’s attacks on foreign financial institutions are one more means by which the US is slowly establishing controls that will prevent the populace from escaping their indentured servant status here, or just escaping, period. One of the effects of these attacks will be, to some extent, to lock American assets into American banks and keep funds here, onshore, where they are readily controllable, seizable and debasable. These attacks are a way of closing the borders, are the makings of a banking "Berlin Wall."

Slowly and methodically, we are being locked in.


  1. Wenzel,

    Same thing is going on with the southern border. People really think it takes a wall to keep Mexicans out and don't realize that it takes a wall to keep Americans in.

    We're next. America, it's what's for dinner.

  2. If americans want to keep their money in foreign banks there is nothing to stop them from doing so but they have to declare any earnings on their income tax.

  3. I note the above commenter made his comment annonymously--a manner im which you can no longer keep our money.

  4. Wenzel,


    Too bad he is too aloof (provided positive description of current tax laws as if you're unaware while debating the normative point of what they should be like) to see how bad you just owned him.

  5. Anon,

    It is quite hard to open an account outside the US as an American unless you live in the country in question. Even safety deposit boxes are under great pressure, so, for example, many banks in Panama are forcing Americans to close them.

  6. >>It is quite hard to open an account outside the US as an American unless you live in the country in question.

    You're right, and unfortunately it's getting even harder than that. Some Americans who live abroad are finding that banks refuse to deal with them, under threats to their US operations by US regulators.