By Rob Gordon
Sovereign Investor, April 7, 2013
With the banking crisis in Cyprus heating up and reports of citizens losing up to 60% of their money …
Many attendees at the Global Currency Expo have asked, “Could it happen in America?”
During the Great Depression, over 9,000 banks failed – 4,000 in 1933 alone – costing depositors more than $140 billion! That would be $2.45 trillion today.
President Franklin Roosevelt’s first act as commander in chief was to declare a national “bank holiday” – closing banks for a three-day cooling off period and setting limits to the amount depositors could withdraw. Sound familiar?
And when you consider our government has run-up $120 trillion in debt and is more desperate than ever …
The short answer is, YES! It could happen here.
That’s why there’s so much talk at the Global Currency Expo about the importance of diversifying wealth outside of America Inc. and into economies around the globe that are booming.