What to Do?
So, what to do? At this point, it would be wise to retain only three months expense-money in any bank, and even that amount should be regarded as sacrificial.
Beyond that, those who hope to protect their wealth from confiscation are becoming increasingly limited as to what forms of wealth storage are available to them. Considering the fragility of the bond and stock markets and the concurrent fragility of hedge funds and retirement funds, the most viable choices are precious metals, land, and built property. And these are truly safe only if they are located in jurisdictions that have no confiscatory laws.
With regard to precious metals, the number of private non-bank wealth-storage facilities is on the increase worldwide, in reaction to the increasing demand for alternatives to bank storage. The elimination of safe deposit box storage of cash and precious metals is a further bellwether that the noose is tightening on the ability to store wealth. However, precious metals are the one form of money that is not also the liability of any government and is therefore difficult for governments to control, let alone demand its repatriation. Likewise, a portfolio of land and built property in a non-intrusive, no-tax jurisdiction cannot be confiscated by foreign governments, except as an act of war.
As such, these two safe havens of wealth will continue, as they have for over 5,000 years, in spite of the efforts of rapacious governments.
Of one thing we can be certain: there will be no warning of impending confiscation. There will be no signs on banks advertising, “Last chance to get your money out—offer ends today!” Those who escape the loss of wealth will be those who have removed it in advance of any confiscation and converted it into a safer form
Editor’s Note: A big part of any strategy to reduce your political risk is to place some of your savings outside the immediate reach of the thieving bureaucrats in your home country. Obtaining an offshore bank account is a convenient way to do just that.
That way your savings cannot be easily confiscated, frozen, or devalued at the drop of a hat or with a couple of taps on the keyboard. In the event capital controls are imposed, an offshore bank account will help ensure that you have access to your money when you need it the most.
In short, your savings in an offshore bank will largely be safe from any madness in your home country.
Despite what you may hear, offshore banking is completely legal and is not about tax evasion or other illegal activities. It’s simply about legally diversifying your political risk by putting money in sound, well-capitalized institutions where it’s treated best.
Otherwise, Buy Gold and Silver.
Gold has served as money for centuries and across many different civilizations. It has always been an inherently international asset. There is nothing at all particularly American, Chinese, Russian, or European about gold.
Gold is inherently an international asset because it is disconnected from any government and its value is universally recognized everywhere in the world. Buying some is perhaps the easiest step you can take toward internationalizing your savings. The next step is to store your gold in a safe foreign jurisdiction. Perhaps one of the easiest and most convenient ways to own physical gold, with you or offshore is with Karatbars International. To get a free report on how you can internationally diversify your physical gold see here. Or just watch our free karatbars presentation.
To be honest, there are various ways we’ve discovered as easy and convenient to own and store physical gold offshore (in places like Singapore and Switzerland in a non-bank private vault). But Karatbars International is easily my pick of them all. With a free storage option and insured courier delivery whenever i want. I can decide to have my Gold both close (at home) or offshore. And most importantly, I do not have to possess a large portfolio of resources and neither do i have to purchase by the ounce or Kilos. Better still, I earn a passive income and get free gold for helping others do the same.
By saving in gold you can opt out of the system, who cares if the government is in trillions of debt, who cares if inflation goes positive or negative, save in physical gold and let politicians do whatever they like!
Ola Awoliyi – Karatbars VIP Business Partner
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