A Bankers' Holiday may be called at any time even by the Secretary without the President. I cannot tell you buying gold is unwise; only that when and if it becomes illegal to own it, the investment could get you fined and/or jailed. That probably means the price of gold will drop 95% and only because somebody wants it more than what you are hoping to buy with it - food, water, shelter, home defense etc. And the receiver of your gold is now taking the risk of fines and/or jail.
Here is what I mean;
http://friends-n-family-research.inf...ollections.jpg
The Emergency came to an end, but Congress left some emergency legislation in place around Title 12 U.S.C. §95 -
The Bankers' Holiday.
http://Friends-n-Family-Research.inf...l_PL94-412.jpg
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So get a look at what Congress specifically left in full force and effect.
http://www.law.cornell.edu/uscode/ht...5----000-.html
http://www.law.cornell.edu/uscode/ht...5---a000-.html
http://www.law.cornell.edu/uscode/ht...5---b000-.html
And the point I am making is that this UN's IMF Fund is really about the uniformity of combinatorial nations in agreement - treaty. Like Ranger brought up. Those treaties are published regularly from the State Department and found in the State Department Bulletin. On the surface, because of the legislation awaiting gold seizure in America Swiss accounts feel a lot safer. But then again Switzerland is way over there...
And like indicated by the CIA reports, Switzerland might hand over your money to the IRS as quickly as any corner bank here would. If you friend would have demanded lawful money when depositing or he can when withdrawing..
Keep that in mind. There is no tax on credit on account. (attached). It is not until your friend is withdrawing it cash - and endorses private credit instead of demanding lawful money, that he accrues a tax liability.
Regards,
David Merrill.