{"id":16969,"date":"2016-01-26T21:12:47","date_gmt":"2016-01-27T02:12:47","guid":{"rendered":"http:\/\/olduvai.ca\/?p=16969"},"modified":"2016-01-26T21:13:20","modified_gmt":"2016-01-27T02:13:20","slug":"capital-controls-are-coming","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=16969","title":{"rendered":"Capital Controls Are Coming"},"content":{"rendered":"
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Capital Controls Are Coming<\/a><\/h3>\n
The carnage always comes by surprise, often on an otherwise ordinary Saturday morning\u2026<\/div>\n<\/div>\n
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The government declares a surprise bank holiday. It shuts all the banks. It imposes capital controls to stop citizens from taking their money out of the country. Cash-sniffing dogs, which make drug-sniffing dogs look friendly, show up at airports.<\/p>\n

At that point, the government is free to help itself to as much of the country\u2019s wealth as it wants. It\u2019s an all-you-can-steal buffet.<\/p>\n

This story has recently played out in Greece, Cyprus, Argentina, and Iceland. And those are only a few recent examples. It\u2019s happened in scores of other countries throughout history. And I think it\u2019s inevitable in the U.S.<\/p>\n

I believe the U.S. dollar will lose its role as the world\u2019s premier reserve currency. When that happens, capital controls are sure to follow.<\/p>\n

This is why it\u2019s crucial to your financial future to understand what capital controls are, how they are used, and what you can do to protect yourself.<\/p>\n

Why Governments Impose Capital Controls<\/strong><\/p>\n

Think of the government as a thief trying to steal your wallet as you (understandably) try to run away. With capital controls, the thief is trying to block all the exits so you can\u2019t reach safe ground.<\/p>\n

A government only uses capital controls when it\u2019s desperate\u2026when it can no longer borrow, inflate the currency, tax, or steal money in one of the \u201cnormal\u201d ways.<\/p>\n

In most cases, governments use capital controls in severe crises. Think financial and banking collapses, wars, or chronic economic problems. In other cases, they\u2019re just a way to control people. It\u2019s much more difficult to leave a country when you can\u2019t take your money with you.<\/p>\n

Regardless of the initial catalyst, capital controls help a government trap money within its borders. This way, it has more money to confiscate.<\/p>\n

…click on the above link to read the rest of the article…<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Capital Controls Are Coming The carnage always comes by surprise, often on an otherwise ordinary Saturday morning\u2026 The government declares a surprise bank holiday. It shuts all the banks. It imposes capital controls to stop citizens from taking their money out of the country. Cash-sniffing dogs, which make drug-sniffing dogs look friendly, show up at […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[2],"tags":[2251,110,8210,951,2016,1167,1833,11725,679,827,839,868],"class_list":["post-16969","post","type-post","status-publish","format-standard","hentry","category-economics","tag-argentina","tag-capital-controls","tag-casey-research","tag-currency","tag-cyprus","tag-greece","tag-iceland","tag-nick-giambruno","tag-reserve-currency","tag-united-states","tag-us-dollar","tag-wealth"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/16969","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=16969"}],"version-history":[{"count":2,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/16969\/revisions"}],"predecessor-version":[{"id":16971,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/16969\/revisions\/16971"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=16969"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=16969"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=16969"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}