You may have seen this alleged quote from Harry Schultz regarding a bank holiday floating around the internet:

“Some US embassies worldwide are being advised to purchase massive amounts of local currencies; enough to last them a year. Some embassies are being sent enormous amounts of US cash to purchase currencies from those govts, quietly. But not £´s. Inside the State Dept there is a sense of sadness & foreboding that ‘something´ is about to happen, unknown re a date-just that within 180 days, but could be 120-150 days.”

I am trying to confirm this with my Swiss sources but as of right now I have nothing to confirm it.

Does it make sense? Certainly it does.

Just because the stock markets are rebounding (in a bear market rally IMHO) does not mean that the global or U.S. economy is recovering.

There are many shoes left to drop with regard to the U.S. and global banking system. Interest rates have already begun to rise and when they rise further there will be massive problems forthcoming.

The U.S. dollar is down a great deal this decade and it’s quite possible the worst is yet to come. Rearrange your portfolio accordingly.

Harry Schultz has the most expensive investment newsletter on the planet, but that does NOT make him automatically correct. The advice quoted above seems prudent, though, either way.

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