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Many itulip readers clearly have assets overseas. Sudden restrictions on currency exchanges seem very possible if gold spikes and the dollar devalues rapidly. I reread Eric's post of 07-23-06 ("What the US government will demand, whether "fair" or not, is your patriotic assistance in restoring stability to the system.") and it makes perfect sense.
In Thailand when the baht was under attack, investment accounts were restricted first, but soon even individuals seeking to wire home a mere 5,000$ faced so much red tape and hours at the bank that most gave up on legal channels.
Can anyone recommend an article about Nixon's move to abandoned gold, and the other currency restrictions that went along with that decision?
How severe could the penalties be for money being repatriated back to the US?
In Thailand when the baht was under attack, investment accounts were restricted first, but soon even individuals seeking to wire home a mere 5,000$ faced so much red tape and hours at the bank that most gave up on legal channels.
Can anyone recommend an article about Nixon's move to abandoned gold, and the other currency restrictions that went along with that decision?
How severe could the penalties be for money being repatriated back to the US?