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This is an older story, but I know everyone has been seeing the same warnings everywhere on the net by Ron Paul, Warren Buffet, ect. I'm just curious, how do the rich send their money out of the US[Capital Flight], as so many are supposedly doing... and how would it do a bit of good to buy gold when the government will just call it in?
This is an older story, but I know everyone has been seeing the same warnings everywhere on the net by Ron Paul, Warren Buffet, ect. I'm just curious, how do the rich send their money out of the US[Capital Flight], as so many are supposedly doing... and how would it do a bit of good to buy gold when the government will just call it in?
They move money out in various ways, some of which are artwork, precious metals, buying stocks overseas, investments, etc etc etc. Even truckloads of cash on occasion!
China is experiencing a similar issue, although a lot more folks are just moving out. When we discuss the rich fleeing America due to taxes, we ignore that 10X as many rich Chinese are coming here then people leaving.
They move money out in various ways, some of which are artwork, precious metals, buying stocks overseas, investments, etc etc etc. Even truckloads of cash on occasion!
China is experiencing a similar issue, although a lot more folks are just moving out. When we discuss the rich fleeing America due to taxes, we ignore that 10X as many rich Chinese are coming here then people leaving.
Well I have always said that the rich are parasites of society. It's not like they buy American-made goods!
You are so right, I hadn't thought of the artwork, overseas stocks ect. and investing over there, just like the Arabs and Chinese have bought so much over here. When all those Arabs running our convenience stores start running like rats on a sinking ship, that's when we will really know 'it has hit the fan'!
This is an older story, but I know everyone has been seeing the same warnings everywhere on the net by Ron Paul, Warren Buffet, ect. I'm just curious, how do the rich send their money out of the US[Capital Flight], as so many are supposedly doing... and how would it do a bit of good to buy gold when the government will just call it in?
Greenspan is a hack and needs to just go off in a corner and keep to himself.
The guy is a leading reason for why things are the way they are today.
While initially he was great for the economy, he caved to politics and ultimately policies put in place by him lead to the last few serious recessions.
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