Best of the Week
Most Popular
1.The Brexit War! EU Fearing Collapse Set to Stoke Scottish Independence Proxy War - Nadeem_Walayat
2.London Terror Attack Red Herring, Real Issue is Age of Reason vs Religion - Nadeem_Walayat
3.The BrExit War, Game Theory Strategy for What UK Should Do to Win - Nadeem_Walayat
4.Goldman Sachs Backing A Copper Boom In 2017 - OilPrice_Com
5.Trump to Fire 50 US Cruise Missiles To Erase Syrian Chemical Attack Air Base, China Next? - Nadeem_Walayat
6.US Stock Market Consolidation Time - Rambus_Chartology
7.Stock Market Investors Stupid is as Stupid Goes - James_Quinn
8.Gold in Fed Interest Rate Hike Cycles- Zeal_LLC
9.The BrExit War - Britain Intelligence Super Power Covert War With the EU - Nadeem_Walayat
10.Marc Faber: Euro to Strengthen, Dollar to Weaken, Gold and Emerging Markets to Outperform - MoneyMetals
Last 7 days
What A War With North Korea Would Look Like - 25th Apr 17
Pensions Are On The Way Out But Retirement Funds Are Not Working Either - 25th Apr 17
Frank Holmes : Gold Could Hit $1,500 in 2017 Amid Imbalances & Weak Supply - 25th Apr 17
3 Reasons Why “Spring Forward, Fall Back” Also Applies To Gold - 25th Apr 17
SPX may be Aiming at the Cycle Top Resistance - 25th Apr 17
Walmart Stock Extending Higher - Elliott Wave Trend Forecast - 25th Apr 17
Google Panics and KILLS YouTube to Appease Mainstream Media and Corporate Advertisers - 25th Apr 17
Gold Price Is 1% Shy of Ripping Higher - 25th Apr 17
Exchange-Traded Funds Make Decisions Easy - 25th Apr 17
Trump Is Among The Institutionally Weakest National Leaders In The World - 25th Apr 17
3 Maps That Explain the Geopolitics of Nuclear Weapons - 25th Apr 17
Risk on Stock Market French Election Euphoria - 24th Apr 17
Fear Campaign Against Americans Continues Nuclear Attack Drills in New York City - 24th Apr 17
Is the Stock Market Bounce Over? - 24th Apr 17
This Could Be One Of the Biggest Winners Of The Electric Car Boom - 24th Apr 17
Le Pen Shifts Political Landscape- The Rise of New French Gaullism  - 24th Apr 17
IMF Says Austerity Is Over - Surplus or Stimulus - 24th Apr 17
EURUSD at a Critical Point in Wave Structure - 23rd Apr 17
Stock Market Grand Super Cycle Overview While SPX Correction Continues - 23rd Apr 17
Robert Prechter Talks About Elliott Waves and His New Book - 23rd Apr 17
Le Pen, Melenchon French Election Stock, Bond and Euro Markets Crash - 22nd Apr 17
Why You Are Not An Investor - 22nd Apr 17
Gold Price Upleg Momentum Building - 22nd Apr 17
Why Now Gold and Silver Precious Metals? - 22nd Apr 17
4 Maps That Signal Central Asia Is at Risk of War - 22nd Apr 17
5 Key Steps For A Comfortable Retirement From Former Wall Street Trader - 22nd Apr 17
Can Marine Le Pen Win? French Presidential Election Forecast 2017 - 21st Apr 17
Why Stock Market Investors May Soon Be In For A Rude Awakening - 21st Apr 17
Median US Household’s Wealth Has Declined by 40% Since 2007 - 21st Apr 17
Silver, Platinum and Palladium as Investments – Research Shows Diversification Benefit - 21st Apr 17
U.S. Stock Market and Gold, Post Tomahawks and MOAB - 21st Apr 17
An In Depth Look at the Precious Metals Complex - 20th Apr 17
The Real Story of China’s Strong First-Quarter Growth - 20th Apr 17
3 Types Of Life-Changing Crisis That Make You Wish You Had Some Gold - 20th Apr 17
The Truth is a Dangerous Thing - 20th Apr 17
2 Choke Points That Threaten Oil Trade Between Persian Gulf And East Asia - 20th Apr 17
Gold’s Next Downside Target Is Around $700… Even if It Breaks Up First - 19th Apr 17
SPX May be Completing its Corrective Pattern - 19th Apr 17
Silver Production Has “Huge Decline” In 2nd Largest Producer Peru - 19th Apr 17
Soothing East Asia's Nerves as Trump's Administration Reaffirms US Power in Asia-Pacific - 19th Apr 17
The Brexit War - Article 50 Triggered, General Election 2017 Called - Let the Games Begin! - 19th Apr 17

Market Oracle FREE Newsletter

Why 95% of Traders Fail

Your Country is Dying... And It Wants To Take You With It

Politics / US Politics Oct 18, 2011 - 08:01 AM GMT

By: Jeff_Berwick

Politics

Best Financial Markets Analysis ArticleWe are nearing the end of the grand experiment in nation-states, democracy and socialism.  In case you hadn't noticed, it failed miserably.  Hundreds of millions were killed in wars engendered by nation states and made possible by fiat currencies and countless more were impoverished by the central banks instituted by the state.  Riots and protests around the globe from Rome, to Egypt to nearly every major city in the US now attest to that.


Countries, however, are like living organisms and they will do almost anything to stay alive.  They have always treated their tax-slaves (citizens) as milk cows and they will treat them as beef cows if worse comes to worse.

It is for this reason that it is more important than ever to both understand what is really going on - hint: whatever the government or what the newsreaders on your nightly news say is not what is really going on.  It is also more important than ever to begin to protect yourself from your own government.

HAVING A SECOND PASSPORT GIVES YOU OPTIONS

Last year I got a call from an online brokerage I use in Luxembourg called Internaxx.  After having had an account with them for a few years they called to let me know they'd be closing my account immediately.

I asked the obvious question: Why??

The lady replied that Internaxx had recently been bought out by a Canadian brokerage, TD Waterhouse, and since I was registered with Internaxx as a Canadian citizen (I was born in Canada and have a Canadian passport) that Canadian laws state that no Canadian stock brokerage can accept a Canadian client when it is operating outside of the country!

So, even though I thought I was safely away from the criminal Canadian Government's rules and regulations in Luxembourg, all it took was for a Canadian company to buy that brokerage and all of a sudden I was persona non grata.

Luckily, and smartly, for me, I have another passport and so I said to the lady, "I am also a citizen of XXX country, could you unregister me as being Canadian and put me down as being from that country?"

She said yes.  So, I didn't have to go through the hassle of moving my account elsewhere.  But, it just goes to show the benefit of having alternative citizenship - preferably in a country that does not have the resources nor the ability to police you around the world.

Sure, this time they were only looking to close my account.  But, with all western governments drowning in debt, the next time it could be to impose an asset tax or even to seize my assets.

GOLDMONEY CLOSES DUTCH ACCOUNTS

Recently, a similar thing happened to Dutch citizens who held money or gold with Goldmoney.com in England or Switzerland.

Goldmoney.com sent a notice to all of its Dutch clients stating that their accounts would be immediately closed because the Netherlands financial regulator had deemed Goldmoney.com was "offering investment objects in the Netherlands without a licence."

A licence, for those that don't know, is a form of extortion done by criminal organizations such as governments or mafia to get you to pay for something you don't need nor want.

Nonetheless, Goldmoney.com felt obligated to close all the accounts for Dutch citizens instead of facing the wrath of the Dutch Government.

Again, it was only to close accounts this time.  But as things continue to collapse you will want to have options with other passports in order to evade the attempts by your own government of seizing your assets.

A SECOND PASSPORT IS MANDATORY FOR SAFETY

We consider holding at least one other passport as important as any other facet of your financial portfolio for the coming years.  Leaving yourself at the whim and control of one government, especially if it is one of the heavily indebted western governments (which is almost all of them), is tantamount to playing russian roulette with your assets.

It is for this reason we recommend that people look to get at least one other foreign passport - and preferably from a government that is not intricately tied to the western financial system nor heavily indebted.

For this reason we have identified two countries which not only offer a passport without you having to live there but also offer it for very cheap by international standards.  It takes about three years to get each but you will have residency nearly immediately after your first application which could help you organize your assets in the meantime.

The two countries we prefer and have covered heavily in The Dollar Vigilante for subscribers are the Dominican Republic and Paraguay.  We have set-up a custom service to help get you a passport in either of those regions as quickly and easily as possible.  You can find more info on the Dominican Republic passport service here and the Paraguay service here.

NO INCOME TAX AND OTHER BENEFITS OF FOREIGN RESIDENCY & CITIZENSHIP

Of course, having foreign residency and citizenship can have many other benefits as well.

For those who earn income over the internet or from outside of your home country attaining foreign residency could reduce your income tax dramatically, even to zero if you set it up properly.  Paraguay, as example, has no income tax.  And the Dominican Republic only charges income tax on income made in the Dominican Republic.  Check with a tax advisor before making any decisions but residency in locales such as these can possibly save you a lot in taxes - all legally.

As well, should you wish to leave your country and reside somewhere for an extended period, having your residency or citizenship in a foreign country makes it all the easier.  The Dominican Republic and Paraguay are both civilized, modern, beautiful places to live.

IT'S ALL HAPPENED BEFORE

Preparing now for what is obviously coming only makes sense.

It's not like any of this is new.  The US Government forced Americans to turn in their gold to the government in 1933.  In Ireland they have begun charging an annual "asset tax" on all pensions.  And, in Hungary, some pensions were already seized and forced to invest in government bonds.  This is the likely tact of the US Government in the near future as they begin to run out of creditors other than the Federal Reserve.  They will likely look first to nationalize 401k's and IRA's and force them into buying government "patriot bonds"... for the greater good, of course.

BETTER SAFE THAN SORRY

We think the phrase, "better safe than sorry", is widely overused (see "Being Better Safe Than Sorry") but in this particular instance we think it is wiser to take precautions than to leave everything up to chance.

If the western financial system implodes in an organized and structured manner then it may turn out that having a foreign passport wasn't a necessity.  However, if it implodes in a chaotic way - which is the way these systems always collapse - when the time comes that some countries institute capital controls and begin to seize their citizens assets you will be very thankful that you took a small amount of time and money to set yourself up with a second citizenship whereby you have a much better chance of protecting your assets from your own government.

This evening we are releasing the August issue of TDV where we talk much more in depth about the coming collapse and strategies and info for how best to survive the coming storm.  Subscribe today to become a part of our community of dollar crash survivors.

The Dollar Vigilante is a free-market financial newsletter focused on covering all aspects of the ongoing financial collapse. The newsletter has news, information and analysis on investments for safety and for profit during the collapse including investments in gold, silver, energy and agriculture commodities and publicly traded stocks. As well, the newsletter covers other aspects including expatriation, both financially and physically and news and info on health, safety and other ways to survive the coming collapse of the US Dollar safely and comfortably. The Dollar Vigilante offers a free newsletter at DollarVigilante.com.

© 2011 Copyright Jeff Berwick - All Rights Reserved
Disclaimer: The above is a matter of opinion provided for general information purposes only and is not intended as investment advice. Information and analysis above are derived from sources and utilising methods believed to be reliable, but we cannot accept responsibility for any losses you may incur as a result of this analysis. Individuals should consult with their personal financial advisors.


© 2005-2016 http://www.MarketOracle.co.uk - The Market Oracle is a FREE Daily Financial Markets Analysis & Forecasting online publication.


Post Comment

Only logged in users are allowed to post comments. Register/ Log in

Catching a Falling Financial Knife