9.4
7.470 Reviews
English
EN
We should not underestimate how much power the government has to intervene in our daily lives and in our financial affairs. That's what financial advisor Ab Flipse says in conversation with Paul Buitink and Joris Beemsterboer of Holland Gold. During the corona pandemic, we have seen that the government can force companies to close their doors and that it can even force people with curfews to stay at home. He has no doubt that the government can also take these kinds of extreme measures in the financial field, such as with the Emergency Financial Traffic Act of 1978.
Conform This Law the government has the power to nationalise movable and immovable property of citizens in the event of 'seriously disruptive situations'. This means that the government can seize assets such as bank balances, real estate and also precious metals. Even assets held by Dutch citizens abroad can be nationalised under this emergency law.
Flipse warns that all the assets that people have in the form of bank balances and investments can easily be recovered by the government, while this is much more difficult with cash or gold. Due to the economic crisis and the war situation in which we now find ourselves, savers and investors should be extra vigilant and hold part of their assets outside the financial system or abroad. He considers a confiscation of gold or silver less likely, because there is only a small group of people who have possessions.
The financial planner warns that many people are not aware of the risks of the financial system and the government and therefore do not make the necessary preparations. To help people with this, Flipse has set up its own community, where like-minded people can help each other and share tips. As a result, people can come closer together and better prepare for the phase of chaos that lies ahead. According to Flipse, we shouldn't expect too much more from the current government leaders.
