Should you trust your bank or Gold bullion? Millions will lose their assets trusted with banks
Peter oberois
Jun. 30, 2007

It is unfortunate. The 150-year banking cycle – 75years up and 75 years down has topped out last. In the next five years, the financial system will receive a major shock from failing banks, financial services companies, and brokerages.

Can you really trust your bank that holds thousands of dollars in certificate of deposits? Ask then what is the security status of your money? They will show you a private enterprise FDIC that insures your deposits. Unfortunately, FDIC will run out of funds after three major bank failures in the country. What happens after that?

After that, they go to the Federal Government and request $300 billion or more for bailing out the greedy banks that mismanaged your money. No one knows if the Federal Government will balloon the budget deficit and bail out the banks like they did in eighties when the S&L scam was discovered. The current banking scam is far beyond the control of the Federal Government.

Many smart individuals are looking at Gold as the alternative to banking, CDs, and money market funds. Even better, own physical gold and write off the money calls to earn a decent profit.

If the Federal Government bails out the banks, the budget deficit will go through the roof. The gold price consequently will easily double within a few years. Otherwise, the gold will up slowly. In both the scenarios, you lose substantially leaving your money in the bank instead of converting the same into gold bullion.

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