by Jim Sinclair
What does “Get Out of The System (GOTS)” mean to you?
One things is as certain as Death and Taxes, You “GOTS” to go. Inertia and long term mulling over could cost you blockage of up to 83% of your assets.
The first 6 GOTS you must do.
What I strongly wish you do is free your assets from the balance sheets of the entity with which you are dealing in the entire Western world financial system, without exceptions. The official written evidence is overwhelming that in a systemic crisis of size depositors as unsecured creditors of a bank or broker by the simple act of having an account are lenders to that institution. In fact of law, the depositor, you, are very junior lenders as they are unsecured. You need to consider yourself as an informed Cypriot knowing that bail-in was coming a few months before it occurred. What would you do? My feeling is you would have done a lot more than just the thinking about it that you are doing now.
Getting out of the system is not an investment decision. GOTS is the mechanics of holding an account or asset only. That is account type, location, storage, insurance and auditing.
You need not change your investment profile if you close a tax incentive retirement account.
You need not sell anything in order to close your tax incentive retirement account.
You need not sell your gold and silver to move it to a depository that is outside of the Western financial system.
You need not stop any type of trading you are doing in any market you favor.
You need not change your taste for the currency that you use to keep deposits in.
The necessary is as follows:
h/t Tom R