I am having trouble understanding capital controls.
Appartently, the US in the 30s implemented capital controls, and people like Peter Schiff feel that we will see them again in the near future. An example of a capital control would be that U.S. citizens would no longer be able to buy stocks on foreign exchanges.
So one approach to this threat is to get assets out of the U.S. before capital controls are imposed. For example, I would guess that a funded GoldMoney account, which is based in the island nation of Jersey and outside the control of the U.S., would not be subject to capital controls.
However, there are many gray areas that I don’t understand. For example, I own some foreign stocks directly on foreign stock exchanges through Euro Pacific Capital. But, the clearing is done by Pershing, an American company. If capital controls are imposed, how would I be affected?
If anyone has any useful information or links, please reply to this message. Thanks.