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To: SeekAndFind

0bama wants to create an economic Berlin Wall and prevent capital flow out of the country. All this will do is force individuals to hide their money in precious metals and cash (not a safety deposit box either). More and more, folks will stop buying stocks and even investing in their 401ks.
Money will get out. We know that those with political connections and the uber rich will find a legal mechanism. The wealthy small business owners and upper middle class will need to smuggle much of their cash and gold out when they finally decide to retire abroad. As the government becomes more oppressive, immoral and unreasonable, ordinary people will have little trouble rationalizing breaking the law. This has happened in Europe for years and other oppressive regimes throughout history.
There will be somewhere to put your money, The US is losing its global economic influence and will have trouble bullying countries that want to attract wealthy retirees.


85 posted on 04/12/2010 8:54:50 AM PDT by grumpygresh (Democrats delenda est)
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To: grumpygresh

IIRC, when a person dies, the bank is required to have an IRS agent on hand when any safety deposit boxes are opened.


88 posted on 04/12/2010 8:57:06 AM PDT by MrB (The difference between a humanist and a Satanist is that the latter knows who he's working for.)
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To: grumpygresh
0bama wants to create an economic Berlin Wall and prevent capital flow out of the country.

You don't think the Republicans want that too?

106 posted on 04/12/2010 9:04:04 AM PDT by Wissa (Gone Galt)
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