Create a password protected encrypted file container using TrueCrypt stored in the path ~/encrypted/encrypted.tc. The following script will decrypt this file and mount it as the directory ~/encrypted/encrypted. It will also unmount the directory when you are done.
 

#!/bin/sh
# truecrypt-encrypted
# Mount and unmount an encrypted TrueCrypt directory.
#
# Author: Dave Lehman ; http://nowherelan.com
# Date Created: 2012-01-01
# Version: 1.0
################################################################################
SCRIPTNAME=truecrypt-encrypted
ENCRYPTED_FILE=$HOME/encrypted/encrypted.tc
DECRYPTED_MNT=$HOME/encrypted/encrypted
mount(){
    mkdir -p $DECRYPTED_MNT
    truecrypt --text $ENCRYPTED_FILE $DECRYPTED_MNT
    return 0
}
umount(){
    truecrypt --text --dismount $DECRYPTED_FILE
    return 0
}
status(){
    truecrypt --text --list $DECRYPTED_FILE
    return 0
}
case "$1" in
    --mount)
        mount
        ;;
    --umount)
        umount
        ;;
    --status)
        status
        ;;
    *)
        echo "Usage: $SCRIPTNAME {--mount|--umount|--status}" >&2
        exit 0
        ;;
esac
exit 0