GOTS: Get Out Of The System
GOTS: Get Out Of The System by Jim Sinclair – JSMineset
TDC Note – We published an article referencing the G.O.T.S. idea and thought it appropriate to share Jim Sinclairs original idea. Mr. Sinclair originally published this idea on June 9, 2013 – just over four years ago.
What does “Get Out of The System (GOTS)” mean to you?
One things is as certain as Death and Taxes, You “GOTS” to go. Inertia and long term mulling over could cost you blockage of up to 83% of your assets.
The first 6 GOTS you must do.
What I strongly wish you do is free your assets from the balance sheets of the entity with which you are dealing in the entire Western world financial system, without exceptions. The official written evidence is overwhelming that in a systemic crisis of size depositors as unsecured creditors of a bank or broker by the simple act of having an account are lenders to that institution. In fact of law, the depositor, you, are very junior lenders as they are unsecured. You need to consider yourself as an informed Cypriot knowing that bail-in was coming a few months before it occurred. What would you do? My feeling is you would have done a lot more than just the thinking about it that you are doing now.
Getting out of the system is not an investment decision. GOTS is the mechanics of holding an account or asset only. That is account type, location, storage, insurance and auditing.
You need not change your investment profile if you close a tax incentive retirement account.
You need not sell anything in order to close your tax incentive retirement account.
You need not sell your gold and silver to move it to a depository that is outside of the Western financial system.
You need not stop any type of trading you are doing in any market you favor.
You need not change your taste for the currency that you use to keep deposits in.
The necessary is as follows:
1. The easiest yet the most difficult is to have your assets at your bank/broker held in true custodianship. Custodianship is not true custodianship. TRUE custodianship is when the financial entity issues you a letter that states that the assets are being held as custodian for the account holders and does not appear on the balance sheet of the financial entity. The asset is the property of the registered holder and not transferred into street name by the bank. In order to get this you have to have a big influence over your bank. Usually Main Street is screwed because where these exist are in the preferred accounts department, the home of big money. As usual, Main Street is screwed. However to demonstrate the heart of the matter, this method demands review. The man to ask about these even thought he is not in the business of this, is our CIGA Monty and his partner Tony at Guild Investment Management. He has the knowledge we seek.
2. You must get your share assets out of the name of CEDE and Company. Yes, that is the name of almost every company share you holds. That is the DTCC and street name system.
An Overview from DTCC web site:
For more than 35 years, DTCC’s family of companies has helped automate, centralize, standardize and streamline processes that are critical to the safety and soundness of the capital markets.
DTCC, through its subsidiaries, provides clearing, settlement and information services for equities, corporate and municipal bonds, government and mortgage-backed securities, money market instruments and over-the-counter derivatives. In addition, DTCC is a leading processor of mutual funds and insurance transactions, linking funds and carriers with their distribution networks.
DTCC’s depository provides custody and asset servicing for more than 3.6 million securities issues from the United States and 121 other countries and territories, valued at US$36.5 trillion. In 2010, DTCC settled nearly US$1.66 quadrillion in securities transactions.
DTCC operates through 10 subsidiaries – each of which serves a specific segment and risk profile within the securities industry:
National Securities Clearing Corporation (NSCC)
The Depository Trust Company (DTC)
Fixed Income Clearing Corporation (FICC)
DTCC Deriv/SERV LLC
The Warehouse Trust Company LLC
DTCC Derivatives Repository Ltd.
DTCC Solutions LLC
DTCC Loan/SERV LLC
DTCC’s joint venture company with Thomson Reuters, Omgeo, has over 6,000 customers in 45 countries and plays a critical role in institutional post-trade processing, acting as a central information management and processing hub for brokers, investment managers and custodian banks.
DTCC’s joint company with Markit, MarkitSERV, combines the DTCC Deriv/SERV and Markit Wire trade confirmation platforms to cover all major asset classes including credit, interest rate, equity and commodity derivatives.
New York Portfolio Clearing, LLC (NYPC) is registered as a U.S. Derivatives Clearing Organization with the Commodity Futures Trading Commission. A joint venture of NYSE Euronext and The Depository Trust & Clearing Corporation, NYPC clears interest rate products and supports the cross-margining of fixed income cash products from DTCC’s Fixed Income Clearing Corporation with their related, offsetting derivatives trades in a “single pot”. For more information, please visit: www.nypclear.com.
You must own your own assets, not some made up company by the Lanka Demons of Western Finance. In order to regain your legal ownership in your account name you must demand transfer out of DTCC into Direct Registration.
The following is courtesy of the Computershare website. Questions your brokers either has no knowledge of, or will not answer for you. The system never wants to let you out. You GOTS to get out!
Yes, you can access your account and request transactions via the Internet. To do this, please go to www.computershare.com/ATT and select the “Register now” link to become an Investor Centre member. There is also a link on this page where you can “Find out more about the benefits of becoming a member.”
For your first-time member registration, you will need to enter:
– Our company name or ticker
– The Social Security Number or Taxpayer Identification Number for your AT&T Inc.
– The zip code for your account
NOTE: If you do not have an SSN or TIN, you will need your family name as shown on your account statement.
Once you have established your User ID and password, you will be asked to select three security questions and answers for added protection of your investment accounts. These security questions will aid you in recovering access if you lose or forget your password. Subsequent logins require only your member User ID and password to access your full portfolio of Computershare-managed holdings.
Yes, when in DRS you can order your shares placed into Certificate form if the company obliges.Yes, you can request a certificate for all or a portion of your whole shares by accessing your account via the Internet at www.computershare.com/ATT and following the instructions as noted before. You may also request a certificate by calling Computershare at 1-800-488-2954 using a touch-tone telephone and selecting the option “to issue shares” or by sending a written request to Computershare. Please allow seven to ten business days for the certificate to be printed and delivered by first class mail. If you choose to have a stock certificate issued for all of your uncertificated shares, any fractional share held in the Direct Service Program by Computershare as custodian will be sold and you will receive a check for the sale proceeds of that fractional share less any applicable fees as noted before. Computershare recommends that your certificates be placed in a safety deposit box in a secure financial institution. If the certificates are accidentally lost, there is a surety bond fee based upon a percentage of the current market value as of the time the shares are reported lost, plus any applicable processing fees. If you are planning to sell your shares, Computershare offers the sales facility as noted before.
The requirements for transferring ownership of uncertificated shares are the same as for certificate shares. In order to complete a transfer, you must submit written instructions and proper documentation, along with a Medallion Guarantee. For more information, or to request a Transfer of Ownership Form, please go to www.computershare.com/ATT and follow the instructions as noted before, or call Computershare customer service at the number appearing on your statement.
Yes, you can convert your shares held in certificate form into uncertificated shares by mailing your certificates to Computershare together with a letter of instruction. The certificates should not be endorsed. By depositing your shares in uncertificated form, you will eliminate the risk of loss or theft of your certificates. Certificates should be sent to Computershare at the address below by registered or certified mail, with return receipt requested, or some other form of traceable mail. We recommend you insure the mailing for 3% of the value of the shares. The insured amount represents the replacement cost that will be charged to you if your certificates are lost in transit to Computershare. Send your certificates to Computershare, P.O. Box 43084, Providence, RI 02940-3084.
Yes. Your broker can move shares electronically from your brokerage account to either a new or an existing account at Computershare. Please contact your broker for more information.
Your uncertificated shares can be moved to your brokerage account electronically through the DRS. If your broker does not participate in the DRS, you will have to request physical certificates, and then deliver the physical certificates to your broker. If your broker does participate in the DRS, you will need to supply your broker with specific information about your uncertificated account at Computershare in order for your broker to move your shares. The information you will need is printed on your statement. Please contact your broker for more information.
Yes, you can convert your shares held in certificate form into uncertificated shares by mailing
DRS is freedom. DRS is the means to true ownership without an intermediary. Certification is the ultimate protection and freedom for your finances. Never certificate if you have a habit of losing your car keys or forgetting your mate’s name.
3. In order not to be bailed-in you must diversify your liquid capital to the BRICS or a Quasi BRICS. In time and privately, I will suggest banks, but for the time being know the area to keep funds is Taiwan, Singapore and Hong Kong, not Switzerland, the Bahamas or any two bit tax shelter country. If you are there then move. This may be the shortest must do but it is the most important do.
4. Storage of bullion is a very delicate subject. The first question that I strongly suggest you ask concerning the storage insurance policy is does it insure you against the storage company, any employee, any consultant or associate stealing the gold via any method including accounting fraud. The next question is what member of the big four auditing firms reviews the accountant’s statement and signs off on it as accurate and audited as compliant with International GAPP (International General Accepted Accounting as compared to US or Canadian GAPP Procedures).
Your gold must be in allocated form. Any other form is madness in today’s world. Waiting for fabrication to get your gold or silver is the scariest words I have ever heard or read. Storage should be diversified including storage in Singapore. For more information on this ask Egon von Greyerz [email protected].
5. Keep $5000 in cash and as many one ounce gold coins at home that you are willing to give up.
6. Hold a permanent residency permit in a 2nd country of your selection, taste and comfort.
I have no business arrangement nor do I receive either directly, indirectly or tangentially any payments from people I recommend. I mention them because I trust them to treat you correctly and put your affairs before their own.