Citigroup Has Warned Customers It May Refuse To Allow Withdrawals!

Business Insider – 2/19/2010

“Effective April 1, 2010, we reserve the right to require (7) days advance notice before permitting a withdrawal from all checking accounts. While we do not currently exercise this right and have not exercised it in the past, we are required by law to notify you of this change,” Citigroup said on statements received by customers all over the country.

What situation are they expecting to precipitate enforcing that rule?  My guess is that they are getting ready for the possibility of a huge bank run.  It could be that when the public finally realizes that their buying power is being reduced by the runaway printing presses in D.C., or if there is any form of political or financial instability, they may want to get their money out of the banks and into a hole in their back yard — and FAST!

Recently I posed this question to Mike Maloney, a monetary historian who is also “Rich Dad” Robert Kiyosaki’s precious metals advisor.

(Video: Watch this video on the post page)

To find out more about investing in precious metals, go to Mike Maloney’s GOLDSILVER.com

If you’d also like to know about collecting numismatic gold and silver coins, visit my online coin shop WealthBuilderCoins

Now here’s some legal stuff:

I’m an affiliate of GoldSilver.com, and I own WealthBuilderCoins.  If you buy from those sites, I’ll make money (Yay!).  And if you act on anything I’ve written or said, you do it at your own risk, because even though I’m strongly opinionated, I’m not an investment advisor.

This is the latest new video release where Rich Dad Advisor Mike Maloney addresses a common question about taking the advice of brokers who are commission-based.

Check my other posts  for more on investing and gold and silver:

Where Are We In The Gold Cycle?

Gold Is Going Where? Can You Say Manipulation?

Gold or Bonds + Cash. You Be The Judge!

Will Your Business Profits Be Gone or Growing?

Gold Rises. Recovery In Sight? Really?

If you would like to know about Mike Maloney and learn about investing in gold and silver, CLICK HERE

This is happening while TV commentators are reporting that the recession is ending, the rain clouds are clearing, and we should be chilling the champagne for a happy days party.  But as (Rich Dad ) Robert Kiyosaki’s  Advisor Mike Maloney sees it, (and I agree) we should be out buying rain slickers, because the storm is only beginning to brew.

Unemployment is at its highest in nearly 30 years, and stocks, despite a bear market rally, are still sitting below what they were 10 years ago. Our budget deficits are at unbearable levels, and the government continues to write checks with your dollars.

And speaking of dollars, the dollar is nearing its lowest level ever, and the Federal Reserve Bank is doing its best to make sure that it continues going down.

Consider this:  Dollars were once valued by gold.  As a matter of fact, almost everything was once valued by gold, and correlations between gold and the value of a dollar still exist.  As the value of dollars decline, the value of gold, and every other physical commodity, rises.  That includes the value of stocks.  If a stock is priced at $1000, and an ounce of Gold is at $1000, then gold increases by 10%, the stock should rise proportionately (assuming that nothing has changed in the underlying company).

So in this scenario, stocks could continue to rise in their dollar value, but in fact be worth exactly the same in terms of gold.  Those who point to rising stocks as a sign of recovery may be missing the real reason stocks are going up.  That reason is the declining dollar.

This is not a good thing for people who own neither gold nor stocks, and of the two, only gold will remain constant.  As the dollar weakens, it will affect the underlying fundamentals of companies and industries.  This will be the case as gold rises faster than stocks, or when it rises as stocks retreat.

The Dollar Is Near Historic Lows.

Mike Maloney reports:  “With foreign governments clamoring for the end of the dollar as the de-facto world reserve currency, we have a currency crisis in the making. As a monetary historian, none of this surprises me. The US dollar is no different from any other fiat currency in history, and will continue plummeting until it reaches its intrinsic value—zero. And with so many economies attached to the US dollar and the US economy, this will be a global crisis. I have been predicting this since I began studying the markets in 2003, when I fired my family’s financial advisor and invested our net worth in gold and silver.”

Gold Rises as the Dollar Weakens

Be prepared for what is coming.  Educate yourself now on how to best protect yourself and your family.

If you would like to know about Mike Maloney and learn about investing in gold and silver, CLICK HERE

Well, I have a simple question for you. When you have the success you are looking for, what will you do with the money? Do you have any idea how to invest? Do you have a clue how the economy works, or do you believe everything you hear on TV?

I’m starting to understand something. Almost everyone who is coming to me for business information is totally in the dark about these things, and has blinders on and tunnel vision – only looking for a business.

It’s like buying a lottery ticket, and when you win, you’ll scramble to figure out how NOT to lose your money! What a joke!

Listen, if you are broke now and have no financial education, what makes you think that getting money will solve all your problems?

And if you are fortunate enough to have money now, what are you doing to make sure that it grows into wealth?

Almost everyone I know will lose money in the coming years. Almost everyone.

A select few have taken steps to position themselves for personal economic growth. My business partners are among them. We are positioning ourselves to benefit from financial education, and acting on what we learn.

With this in mind, I have started a series of posts on my blog which are about investing and the economy.

Why should you read them? Well, for one thing, I am part of an elite group of financial professionals who have had the experience of being Members of a Commodity Futures Exchange. This is a far different experience from brokers who work for a company and sit in an office all day.

Exchange members OWN the right to stand on the floor of an exchange. They CONTROL and facilitate the prices of commodities, stocks and options at every moment of trading. They are the market makers, not the order takers.

My experience as a member of the Mid America Commodity Exchange has molded my business affairs ever since. I specialized in trading financial futures and options, and made a market in those areas as well as precious metals and grains.

I became a Registered Floor Broker and a registered Commodity Trading Advisor, and spent every day working with other exchange members who were at the center of price discovery for the WORLD.

About this time last year I met Mike Maloney, who is the gold and silver advisor to Rich Dad Poor Dad author Robert Kiyosaki. I was at a wealth conference, and Mike was a key speaker. His presentation brought me back to the years I spent on the trading floor in the silver and gold pit.

After the presentation. Mike and I spent some time together talking about the markets and other common interests. It turns out that he knows lots of Hollywood folks, and since I’m an indie filmmaker, the conversation went on for a few hours.

Mike’s passion for gold and silver is based on historical facts which I had only heard from a few traders on the exchange floor. His advice is timely, and I’m recommending that you pay attention to him as part of your financial education.

Mike and I have a few unreleased videos which I’ve started posting on this blog. Check them out and keep an eye peeled for more. This is important stuff!

Back then, gold was cheap, and going nowhere.  The stock market was attracting tons of easy investment dollars as the tech stocks made headlines.  But even then, conservative investors were scared of the bubble bursting, and advised people to have strong cash positions.  That included Treasury Bonds, which were considered the safest investment on earth.

Mike Maloney, a precious metals historian, was busy buying gold and silver.  His study of cycles in the gold and silver markets have paid off handsomley, and he has advice for those who are unsure of where our economy may be heading.

If you would like to know about Mike Maloney and learn about investing in gold and silver, CLICK HERE