THE
NEW
SAFE HAVENS
HOW TO SURVIVE AND PROSPER
IN THE NEW GOLDEN AGE
NOMAD
CAPITALIST
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THE 7 NEW SAFE HAVENS
Are you ready to claim your fortune in the world’s
New Safe Havens?
Hundreds of years ago, explorers like Marco Polo set sail from modern day
Europe in search of fortune in the Far East. Traders knew there were vast
riches in thinking beyond their own borders, and a result, history was
made.
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More recently, your western ancestors are likely to have packed their bags
and boarded ships - not unlike those used by Europe’s merchant class in
the Renaissance - to seek greater freedom and economic opportunity in a
new land.
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Today, I believe the same conditions exist.
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A paradigm shift is taking place around the world. The western world your
parents and grandparents grew up in is dead.
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And so, too, I believe is the idea of bowing to lines on a map. In the 21st
century, capitalists can seek opportunity anywhere it exists.
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For the same reasons Europe’s merchants took to the high seas and your
ancestors left the life they knew behind, so too can you make the world
your oyster and claim your fortune in the world’s New Safe Havens.
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There is great opportunity looking to the world and its new Safe Havens.
And, I believe, there is great peril in staying behind.
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Because the western system is on the verge of collapse.
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Highly indebted imperialist governments that start wars around the world
can not stand forever. Nor can social welfare states that create cultures of
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unaccountability where success is demonized and investment is
bemoaned.
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History teaches us these things. Over centuries, people have left their
families, their homelands, and their sense of security to find greater
opportunities elsewhere for one reason.
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And that reason is rooted in what I call the Five Magic Words.
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While corrupt governments are using their best Soviet-style propaganda
tactics to convince you this time is different, what you are seeing in the
bankrupt western world is the exact same scenario that has already played
out countless times before.
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Rather than staying and suffering the consequences - currency decline and
eventual collapse, wealth confiscation, high taxes and regulations, and a
culture that disrespects business and capital - you can follow the Five
Magic Words that some of the most influential people in history lived by.
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The Five Magic Words may not make evil politicians happy. After all, they
want you to stay on their plantation to serve as yet another milk cow for
their endless spending. That is why the American government, for
instance, has begun referring to those who move their money offshore or
start a business overseas as “traitors”.
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But the politicians that engage in such name calling don’t understand that
human beings instinctively operate under a free market mentality.
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And so should you. That’s why I encourage you to live by my Five Magic
Words:
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Go where you’re treated best.
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Chances are, the country you were born in doesn’t have the world’s safest
banks. It’s likely that it doesn’t have the best tax laws for your business.
Nor it is the best market in which to invest in real estate.
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The fact is, the place you live probably isn’t “best” at almost anything. If
you derive your value as a person by the flag that flies over your head, that
can sound like an angry thing to say.
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But it’s likely true. This guide is all about finding the world’s New Safe
Havens - and the truth is that each safe haven is different. The best place
for freedom of speech isn’t the best place to store your gold or start a
business. Each one is different.
By diversifying your affairs in countries around the world, you can enjoy the
best of all worlds. Why limit yourself to one country when you can benefit
from being in the best country for everything you do?
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This diversification process is what I call “internationalization”, and it’s
based on the “Flag Theory” of “planting flags” around the world to
maximize your freedom and opportunities.
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In this report, I’ll share some of the threats facing the western world today
- and how (and where) you can fight back to take control of your life and
your wealth.
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This isn’t a time to panic. In fact, I believe that it’s possible today to find
more freedom and prosperity than almost anyone else in human
history - but you have to take action to make it happen.
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This guide is your first step to a life of ultimate personal and economic
freedom.
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To your freedom and prosperity,
Andrew Henderson
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THREAT #1: Currency and purchasing devaluation
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In 1843, a New York newspaper wrote the obituary of tobacco tycoon Pierre
Lorillard. Lorillard’s father had made the young nation’s first tobacco fortune
and passed the business onto his son, who became one of the most wellknown businessmen of his day.
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Most interesting about that obituary was that it was the first documented
print use of the word “millionaire” in the United States. The newspaper used
the new term to describe the vast wealth amassed by Lorillard.
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Let’s examine the word “millionaire”. It was first used in France nearly 300
years ago. By the early 1800s, it had gained acceptance in the English
language, not long after Thomas Jefferson - then the American minister to
France - coined a similar term “millionairy”.
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Like any word, “millionaire” has changed with the times. In the mid-1800s,
Pierre Lorillard was one of the wealthiest men on earth. To call him a
“millionaire” was to make him appear larger than life.
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That’s because the Lorillard fortune, which consisted of some one million
dollars of property around New York City, was considering so highly unusual
at the time that it was the stuff of legend. To imagine that a man who was a
member of multiple social clubs and fox hunts was a “millionaire” was
beyond measure.
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Today, of course, we view the word “millionaire” in an entirely different light.
We read books like “The Millionaire Next Door”. The word is bandied about
like it’s almost nothing.
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Because while amassing a fortune of one million dollars is certainly an
accomplishment for most people, it’s nothing unique. In fact, there are well
over five million “millionaires” today in the United States. The city of Tokyo
alone has nearly half a million millionaires. New York City and London aren’t
far behind.
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Meanwhile, China is turning out millionaires by the day.
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But let’s examine just what these “millionaires” are. To achieve the same
level of wealth as a millionaire in the year 1900, one would have to have more
than $25 million in assets today. That means Pierre Lorillard’s awe-striking
wealth was worth even more than that in the 1800s.
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How is this so? Thank your government and central banks.
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Fifty years ago, the words "PAYABLE TO THE BEARER ON DEMAND” were
removed from bank notes in the United States. Soon thereafter, silver was
removed from US coins. Finally, redemption of US dollar bills for gold or silver
was halted. From then on, there was no intrinsic value in US currency.
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Today, all currencies around the world are “fiat currencies”. They cost virtually
nothing to produce; after all, what does it cost to pump out pieces of paper
with numbers on them? Very little.
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In fact, it costs the Federal Reserve just 11.8 cents to print a $100 bill.
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Bankrupt countries like the United States have taken advantage of this by
attempting to print their way out of insolvency. Unfortunately, they’ve forced
much of the world to compete with their scheme.
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While hacks like former Fed Chairman Alan Greenspan have claimed vast
efforts are needed to undermine counterfeiting, the real counterfeiters are
the ones printing vast sums of money to dig their countries out of fiscal
insanity.
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Ultimately, it’s you who suffers. Back when the US dollar was backed by gold,
purchasing power couldn’t be washed away by a few idiots at some
unaccountable central bank. Today, the amount of US currency in circulation
continues to sky rocket - from less than $600 billion not that long ago, to
more than $1.2 trillion today.
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Ask yourself: if criminals broke into your home, looted the place, and left
a note telling you to “thank us later”, would you be upset? Of course
you would. And that’s exactly what your government is doing to you
right now - all because their fiat currencies can not possibly sustain the
confidence of the market any more.
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One classic example that shows your loss of purchasing power is a story of a
man purchasing a suit. Back in Pierre Lorillard’s day, you could take a $20
legal tender gold coin to your local tailor and have him craft you a beautiful
three-piece suit. Beyond just the suit, you’d get a nice dress shirt, and tie,
and perhaps even a pair of shoes.
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Of course, today, that same $20 gold coin could still get you a nice suit. But a
$20 bank note would barely get you a pair of dress socks.
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The same reason that today’s “millionaires” are so much less impressive than
the captains of industry who truly commanded the word a century or two ago
is the same reason your twenty dollar bank note is almost worthless.
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And it’s getting more and more worthless by the day.
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Take what’s happened in Vietnam for example. Since revaluing their currency
has experienced a period of chronic inflation. The Vietnam dong used to
have some value. Today, it’s one of the world’s most useless currencies, a
result of years of central bank tinkering and government manipulation. It
takes well over 20,000 dong just to purchase one dollar.
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More recently, the Vietnam government has suggested it may have to
confiscate gold from civilians in order to prop up the failed currency. The
Vietnamese, who have among the highest per capita ownership of gold in the
world, are literally sitting ducks. More on that shortly…
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The bottom line is that - until you diversify internationally - your entire
net worth is at the mercy of one government. In the United States, it was
rural Democrats that began the recent free fall of the dollar, all in an effort to
improve farm prices for their constituents.
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Despite the fact that price fixing laws and other economically unsound ideas
never work, politicians are always looking for the latest quick fix to solve their
problems. The government doesn’t care about your money. In fact, they want
to devalue it as much as possible to increase your reliance on them.
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Today, the United States, Europe, and Japan are on a mission to devalue their
currency faster than anyone else. It’s truly a modern day race to the bottom.
And other countries have followed suit, trashing their currency in hopes of
getting a nominal advantage of another country.
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All it has done is diminish your buying power. And since western economies
aren’t exactly examples of stellar growth, you enjoy weak buying power
combined with an inability to out-earn the government’s selfish, wealthdestroying policies.
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The government will point to indicators like the stock market to show you
how well their policies work. Remember how the Dow Jones average climbed
from abysmal lows in the Great Recession to over 16,500 in just a few years?
Do you think that such amazing growth had anything to do with the
underlying value of those stocks?
Largely, it did not. All the increasing stock market had to do with was the
continual printing of money and the debasement of the US dollar. The more
worthless the dollar became, the higher the price of stocks soared.
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In the same way that the price of a box of cereal increased 30% in a very
short time, stocks shot up. History shows us that kind of unsustainable
voodoo can’t last.
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All around the world, desperate governments are fighting a war to tank the
value of your money. Four men control nearly three-quarters of the money
supply… and the price of every single thing you buy.
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The fiat currency game is unsustainable. The idea that a few psychopaths with
the power to devalue an entire nation’s money supply is unfathomable.
Intelligent people throughout history have seen the writing on the wall.
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When the Franklin Roosevelt kicked off the dollar free fall, the Germans knew
what would happen. They had seen it first hand with the Weimar Republic.
They still remembered people walking over piles of banknotes… and no one
caring enough to bend over and pick up stacks and stacks of worthless
money.
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The dollar collapse is coming, and it will send shockwaves around the world.
The economies that have sound fundamentals, rather than just funny money,
behind them will stand a chance of picking up the pieces. If you aren’t part of
those safe havens, you could be wiped out as so many people in history
before you.
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NEW SAFE HAVEN STRATEGY #1:
International diversification and real assets
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In a perfect world, fiat currencies wouldn’t exist and the government wouldn’t
control your assets. Unfortunately, the world is awash in easy money, and you
have to protect yourself.
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I’m a bit of a pragmatist. While the ongoing decline of the US dollar poses
huge problems for those with assets entirely denominated in dollars, I do
believe there are safe havens.
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STRATEGY: OWN PRECIOUS METALS
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Among the most discussed safe havens against the coming collapse of fiat
currencies are gold and silver. While precious metals are an important part of
a safe haven strategy, merely owning them isn’t enough.
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As we’ll discuss later, governments don’t want you to get around their
system. They want to trap you in their dying currencies and subject you to
their system, all in an effort to keep their power. And I believe that - just as
we’ve seen in countries up to and including the United States - asset
confiscation will become a very real part of the government’s efforts to prop
up their bankrupt system.
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Because of that, you should consider storing a large portion of your metals in
another jurisdiction. There are companies from which you can purchase
precious metals and then store them in a segregated facility.
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There are also facilities that will rent you a private box - even anonymously to place your metals. One facility can even appoint a large accounting firm to
act as your power of attorney to sell or ship your metals if necessary. For
Americans, gold held offshore is not reportable as an offshore asset, so long
as it is held outside of the banking system (ie: not in a bank safe deposit box).
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STRATEGY: HOLD FOREIGN CURRENCIES IN OFFSHORE ACCOUNTS
I’m constantly seeking ways to diversify my assets away from US dollar
exposure. One easy way to vote against the declining dollar (or Euro, or
pound) is to maintain an offshore bank account and bank in a foreign
currency.
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I recently hosted a three-day offshore conference in Las Vegas and invited a
Hollywood film crew to put the whole thing on video. After the first night of
the conference, the guys found my at our hotel and said they were amazed
that all of the stuff we were discussing was legal.
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In fact, maintaining an offshore bank account is completely legal, so long as
you follow the reporting requirements (and, in many cases, pay taxes on any
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earnings) in your home country. For US persons, this includes filing several
forms each year if your offshore accounts exceed a certain minimum.
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Not only does having an offshore account reduce your exposure to asset
confiscation, but it opens you up to an entirely new and much more open
financial system that recognizes that your home currency isn’t the be all and
the end all.
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Really, try telling the average American they can bank in another currency.
They’d think you’re crazy. But, in fact, many offshore bank accounts offer the
ability to base your assets in any number of currencies. In one case, I counted
sixteen different currencies. Some banks, especially those in Asia and the
Middle East, also offer the ability to denominate your account in gold.
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You probably aren’t going to hold your entire net worth in gold. Basing your
assets in more stable currencies offers you a degree of protection and
diversification, as well as the reduced exposure to your home country’s
financial system that an offshore bank offers.
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STRATEGY: OWN BITCOIN
Bitcoin offers an extremely enticing premise: the ability to hold assets entirely
out of the banking system and free from central bankers. As a “crypto
currency”, Bitcoin offers the premise of anonymity and true peer-to-peer
transactions.
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Bitcoin was created in 2009 as an open source software protocol, and has
gained huge acceptance among a loyal following. Its value has also shot from
$3 to over $1,000, thanks to the madness of governments and their poor
monetary policies.
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The basis of Bitcoin is that the currency itself becomes harder to “mine” as
more Bitcoins are in circulation, meaning it is not subject to the inflation
suffered by currencies pumped out of a faster and faster printing press.
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Of course, like all things that offer more freedom, governments have tried to
shut down Bitcoin. Thailand admitted its laws were so antiquated that it
couldn’t declare Bitcoin legal. China has shut down Bitcoin use. And, of
course, the United States has declared it will implement as many regulations
as possible to make Bitcoin use difficult, blaming the currency for its use by
some in purchasing contraband.
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WHERE ARE THE SAFE HAVENS?
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The overall strategy to diversifying your assets lies in finding the best places
on earth that respect your capital and your privacy. International
diversification isn’t about breaking laws, and I encourage you to consult with
the proper counsel to ensure you are in compliance. If you set up your affairs
correctly, there is no need to do anything illegal.
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Like many other offshore experts, I believe Singapore is the new world’s new
wealth hub. It’s ranked as the second freest economy on earth, while the US
dwindles out of the top ten. The government of Singapore has built itself into
the world’s wealthiest country (and home to the most millionaires per capita)
in barely fifty years since its independence from modern-day Malaysia.
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Singapore is a great place to open an offshore bank account, even if you only
have $800 to your name. It’s one of the top places to store your gold,
alongside Switzerland (which is largely off-limits to Americans these days),
Austria, and more recently, New Zealand.
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While precious metals prices from discount brokers in the United States are
cheap, Hong Kong is a convenient place to buy gold. They love the stuff in
China and in much of Asia. You can literally buy the stuff over the counter at
your bank, although banks are imposing stricter daily limits.
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Hong Kong is also a safe haven because it doesn’t restrict currency brought
into or taken out of the country. In most countries, you have to file a report if
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you transport more than US$10,000 (or even less) over a sovereign border.
You can imagine this has huge potential issues as countries like the United
States descend into totalitarian states.
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However, I also believe that there are up-and-coming safe havens for
banking. In fact, if you’re an American or from a country that’s in the EU,
merely getting your assets out and to any halfway sane place can seem
appealing. In particular, I see a future for countries like Belize, Latvia, and
even Uruguay in the offshore banking space.
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Emerging market banks can offer higher interest rates. As I write this, for
instance, banks in Turkey are paying as much as 10% on short-term deposits
in Turkish lira. The currency there has been under fire, but things will likely
pick up in the mid-term. For someone with a sense of adventure, it could pay
off to find places of this nature.
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HOW TO LEARN MORE:
Members of my private online club, The Nomad Society, get instant access to
nearly twenty hours of video - plus monthly reports - where they can learn:
• The most liquid banking jurisdiction in the world (the law requires 24%
liquidity)
• Jeff Berwick’s favorite place to bank offshore
• How - and where - to open an offshore bank account for US$500
• How to get started with Bitcoin and avoid getting screwed
• The best places to store precious metals
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Sign up at www.nomadcapitalist.com/the-nomad-society/.
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THREAT #2: Wealth confiscation
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Several years ago, I stood on the banks of Lake Geneva in Switzerland. The
water was glistening. The sky was clear and the weather was perfect. I gazed
upon one of the most storied castles in Europe, the Chillon Castle.
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Chillon Castle was believed the have been built in the eleventh or twelfth
century, and while it is quite the tourist attraction today, it originally served a
far different purpose: confiscating wealth.
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Back in the day, the local government used Chillon Castle as a toll booth.
Merchants on horseback couldn’t pass any other way, thanks to the lake and
steep hills on each side. They were sitting ducks for whatever the local
officials wanted to plunder from them.
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In much the same way, those who keep the entirety of their assets within one
country’s borders are setting themselves up for a potentially dramatic
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problem when their local officials decide to follow the lead of the guys in
Chillon Castle.
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Let’s define “wealth confiscation”. In mind my, wealth confiscation occurs
any time you transfer money to the government.
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Every time you pay taxes, they’ve confiscated your wealth, unless of course
you would have made an equal or greater donation to your nation’s Treasury
regardless. In fact, governments take much more of your wealth than you can
even imagine. When you add up taxes such as sales taxes on goods you
purchase, fuel taxes when you fill up your vehicle, airport taxes when you
travel, and all of the other taxes, you’re paying a majority of your income to
the government.
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However, let’s leave common taxation out of this discussion of “wealth
confiscation”. Being pragmatic, you might agree to pay a small amount in
income tax, for example, in order to escape a larger tax burden like that of
the United States.
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Wealth confiscation, in its commonly accepted form, is when governments
forcefully take money from you outside of a “social contract”. While “the
99%” can “legally” increase your tax burden at the ballot box, people rarely
vote for the government to come and take everyone’s gold.
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In addition to devaluing your assets by trashing their own fiat currency at
whim, governments have any number of tricks up their sleeve to take your
wealth.
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1. “Bail-ins”. Now that the bloom is off the rose on bail-outs, governments
are forcing depositors to bear the brunt of their corporate welfare and
cronyism. As we saw in Cyprus, no bank account or pension plan is safe
anymore. Politicians can now dip into your own personal bank account
whenever they please.
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2. Gold confiscation. You should know that gold confiscation already
happened once in the United States. Politicians will claim that today is
different, or that it can’t happen again. But the veil has already been
pierced. And around the world, politicians have taken steps against gold
ownership. India made it nearly impossible to get the stuff in or out.
Vietnam has talked about seizing gold from the citizens - among the
world’s largest owners of the metal - to prop up the currency they tanked.
While governments downplay gold as an asset class, they’re more than
happy to confiscate precious metals when needed to re-fill their treasury.
3. Confiscation of goods while traveling. Airports and borders are
“Constiution-free zones” within the United States. No matter where you
are in the world, you are at the mercy of government agents when
traveling through them. They can do anything they want. This includes
taking your valuables for no reason at all. When entering or leaving most
countries, you are required to declare cash or valuables valued at $10,000
or more (this limit can be higher or lower). Customs agents can, in their
sole discretion, decide that that large amount of cash or gold coins you’re
carrying are “stolen” or “proceeds of drug money”, or that you are
“laundering money”. Once the government takes your valuables, it can
be hard or even impossible to get them back, even if you never did
anything wrong. Even if you can successfully have your valuables returned,
it will require hiring a lawyer at your own expense.
4. Private pension confiscation. Poland recently forced holders of private
pensions (similar to IRAs) to put a large portion of their assets into
“government approved” investments. They literally took control of their
own citizens’ hard earned money. Irish officials “borrowed” from pension
funds to pay the bills. And in the United States, Barack Obama has
proposed forcing IRAs to be invested in low-interest government bonds.
His goal is to control your wealth now, and leave you holding the bag
later.
5. Public pension confiscation. Money you hold in government retirement
accounts, whether privately held or through some forced savings program,
are equally unsafe. Most young and middle-age Americans realize there is
little hope they will see Social Security payments, and the government will
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undoubtedly have to cut anyone of means off “the dole” in order to
provide benefits to the downtrodden lower class.
6. Liens and levies. Did you know the government has the power to help
itself to the money in your bank account at whim? If any government
believes you owe them money, all they have to do is issue a levy order,
and your bank will cheerfully hand over whatever funds are requested. Do
you owe back taxes? Even if you don’t, the tax authority might disagree.
In my own personal case, a government agency didn’t realize they cashed
my check - and helped themselves to thousands of dollars. The burden
was then on me to spend day after day fighting for my money back.
7. Eminent domain. You might think foreign real estate is a dangerous
proposition because the government in that country may expropriate your
land. As is often pointed out me, your home country’s government does
this, as well. Any time the government wants to build a highway - or even
a shopping mall - they have to right to force you out of your property. So
much for the United States not having expropriation. And do you really
think some crony capitalist isn’t working with the government to build that
road or shopping mall?
8. “Public interest” court actions. Infomercial host Kevin Trudeau has a
long history with the Federal Trade Commission. Several years ago, the
FTC asked a judge to levy the ultimate fine on Trudeau: a $37 million
order for saying his weight loss “cure” was “easy”. The judge, in his sole
opinion, claimed it was not “easy” and held Trudeau in contempt,
ordering him to pay tens of millions. When Trudeau claimed to be broke,
the government eventually threw him and jail and sold everything he had.
The government also harassed countless people Trudeau had done
everything from buy furniture from to pay to clean his house, no doubt
threatening to take their money as well (to pay the “victims” of a $29
book, of course). This isn’t an isolated incident; it happens every day. The
government can easily go after your business the same way it went after
Trudeau, raw milk farmers, organic dairies, and other “undesirables”.
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The list of ways the government can take your wealth goes on and on. Just
because you live in a so-called “free country” doesn’t mean they can’t take
what is yours. Even if people object, it doesn’t matter.
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NEW SAFE HAVEN STRATEGY #2:
International diversification and investing
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By legally playing “keep away” with your assets, you can make it harder - if
not impossible - for the government to take what is rightfully yours.
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In addition to governments, lawyers, plaintiffs, and angry ex-spouses are also
looking to get their hands on your money, and these strategies can help you
protect your money from frivolous claims in addition to Big Brother.
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International diversification simply means having your assets in other
jurisdictions and in offshore structures, rather than your own name. Here are a
few ideas:
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STRATEGY: DON’T MAINTAIN A GOVERNMENT RETIREMENT
ACCOUNT
IRAs, 401(k)s, RSPs, and other programs may sound appealing. After all, why
not defer your tax liability until later, and enjoy the benefits of compounding
interest for your retirement?
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For one, the government can change the rules at any time. History has shown
that there’s nothing stopping them. It doesn’t matter if it’s “fair” or not. Take
on look at Cyprus, an EU member nation with deposit insurance, and see how
the government was willing to steal from everyone’s bank account as a
“stability measure”.
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When your country finally admits it is broke, where will it turn for funds to
keep the party going? Retirement accounts are the last untapped source of
wealth to confiscate. Even if the government doesn’t directly dip into your
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savings, it can force you to move your assets out of investments you choose
and into government bonds, shifting their burden onto you. Then, when
bonds tank, you’ll be left holding the bag.
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The minor tax savings of putting money in an IRA isn’t worth the risk,
especially if you are young. If you already have an IRA, consider moving those
funds into a Self-Directed IRA, which allows you to invest in assets anywhere
in the world, free from the arm of your local government. If you don’t have an
IRA, consider an offshore company or trust to eliminate - rather than just
defer - taxation on your investments.
!
STRATEGY: START AN OFFSHORE TRUST
Trusts have become popular asset protection vehicles in countries like the
United States. But the truth is, many onshore trusts do little to protect assets
at all. Any judge can easily undo an onshore structure in whatever country
you live in.
!
An offshore trust operate much the same way as an onshore trust, but in
another jurisdiction. When structured properly, offshore trusts can avoid taxes
entirely, allowing you to invest your assets tax-free.
!
However, offshore trusts have the added benefit of being subject to the laws
of the country where they are settled.
!
In many jurisdictions such as Nevis, plaintiffs must post a bond just to sue
you. Then, they must hire a local attorney at their own expense (there are few
ambulance chasers working on contingency in these countries). Most frivolous
claims simply go away.
!
Beyond their asset protection benefits, trusts can be used to hold assets
ranging from foreign real estate to stocks and bonds.
!
!
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!
STRATEGY: MOVE YOUR BUSINESS OFFSHORE
Do you have a business that could be located anywhere, such as an online
business? Then why would you have it based in a country that imposes high
taxes and threatens to confiscate your businesses’ funds?
!
In the same way as an offshore trust protects assets from your local courts’
willy nilly decisions, an offshore corporation allows you to run your business in
accordance with the laws of the country where the business is based. When
combined with an offshore bank account (preferably in a third country,
different from the country of incorporation), your business funds are better
protected.
!
There are proper and improper ways to set up an offshore corporation, so it is
often best to consult with a professional. While your home country could
always ask the jurisdiction in which you bank or do business to hand over
your funds, it is up to the foreign court system to make any such
determination. At the very least, this means you don’t have to worry about
waking up one morning to see all of your business funds frozen.
!
STRATEGY: OWN PRECIOUS METALS OFFSHORE
My friend Gerald Celente often suggests keeping your gold “in a coffee can
in your mother-in-law’s basement”. I often agree with Gerald, but I couldn’t
disagree more here.
!
If your country were to order gold confiscation, it’s possible you can avoid
handing your gold in. But what are you going to do with it sitting in that
coffee can? Are the sheep in your home country going to start accepting
gold as payment for groceries or car repairs or home services? I highly doubt
it, especially if the government passes a law banning gold in commerce. Just
look around and see how many people are all to eager to comply with every
law and mandate issued by the government.
!
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Furthermore, keeping gold in your own home means it will be near
impossible to get out. When things get bad in your home country (think Nazi
Germany, Myanmar, Rhodesia, etc.), how will you start a new life in another
place without your assets? Have fun getting gold out of the country, short of
hiring a smuggler to drive you through the desert and over some heavily
armed border.
!
Keeping gold in a private vault, outside of the banking system (no safety
deposit boxes) is a non-reportable way to maintain wealth overseas. You can
rent your own private vault box and deposit your metals, or purchase metals
from a company that stores them as well. One company will help you appoint
a Big Five accounting firm as power of attorney over your metals if you ever
want them sold and can’t visit.
!
STRATEGY: DIVERSIFY YOUR BANK ACCOUNT
Who says all of your money has to be in one place? In addition to moving
part of your assets outside of your home country, it is wise to diversify among
multiple jurisdictions.
!
Don’t just take a stand against US banks and move all of your money to
Singapore. Find several jurisdictions that each match your objectives and
move some money to each of them. You can often open offshore accounts
with less than $1,000. Even starting with a small amount gives you something
to work with - and an account to send more money to - later.
!
STRATEGY: OWN FOREIGN REAL ESTATE
Owning real estate outside of your home country is not only an asset
protection strategy, but a sound investment concept. Especially if you live in a
slow- or no-growth economy, real estate in a faster-growing jurisdiction can
allow your capital to grow.
!
For Americans, foreign real estate is also a non-reportable asset class. You
can own real estate in your own name or in a trust without having to declare it
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to the US government. (Of course, you’d have to declare any rental income or
the existence of the trust.)
!
Real estate is a good part of your diversification plan because it is a lot harder
for your home country’s government to not only get the local government to
go along with its asset protection scheme, but real estate is much harder to
seize than funds in a bank account. Foreign real estate can also be an
excellent way to turn your lackluster bank returns at home into a livable
income with high-yield monthly rents.
!
WHERE ARE THE SAFE HAVENS?
!
The point of moving your money offshore is to protect it. That means you
should, of course, evaluate which jurisdictions will respect your money and
your privacy more than where you are moving it from.
!
This is where the concept of diversification comes in. All too often, people
ask about fleeing one country for another, ready to take every penny they
have to the new country. Instead, you should ask which country is best for
each specific part of your life. If you want to live in France, so be it, be move
your assets elsewhere, as France and the EU have shown they are
untrustworthy with large (and even small) sums of money.
!
For offshore trusts, the Cook Islands is one of the most respected (and
feared) jurisdictions on earth. It may be the toughest asset protection
jurisdiction in the world; so much so, that is has stood up to the United States
court system on more than one occasion. Trusts in the Cook Islands aren’t
cheap, but are worth investigating especially if you have a high net worth.
Other trust jurisdictions worth considering include Anguilla and Nevis.
!
The best jurisdiction for your offshore corporation will vary based on what you
want to accomplish, the size of the business, and who your customers are.
For highly transparent, well-respected structures for substantial businesses,
Hong Kong is an excellent option, as is Singapore. Both have audit and
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compliance requirements and are more expensive than the average “tax
haven”. But if you want to avoid the stigma of being located in a tax haven,
these countries are good choices.
!
Other offshore jurisdictions include Seychelles, Belize, and Nevis. Panama
may remain a good option for some, but the government flirted with taxing
Panamanian corporations on their worldwide income recently, raising
questions about their motives. It is highly recommended to consult a
professional before setting up an offshore structure, because setting one up
incorrectly could nullify your ability to earn income tax-free or claim other
benefits in your home country.
!
For storing gold, we mentioned earlier that Singapore is one of the most
attractive places not only to get your own private vault, but also to buy gold.
New Zealand is becoming a player in this space as well. Switzerland is still
home to more than half the world’s private gold reserves, although this is
changing.
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!
The United States is the place where gold bullion can be purchased at the
lowest cost (1-2% less than Singapore, in many cases), however, the cost to
transport the gold out of the country, along with the risk of seizure by
Customs agents, make it undesirable.
!
As for foreign real estate, the world really is your oyster. Considering that the
oil-rich parts of Iraq have seen huge growth in real estate prices, there are
plenty of options. Personally, I like Nicaragua for cash flow, Cambodia for
short-term appreciation potential, and Lithuania for mid-term appreciation
potential… just to name a few.
!
HOW TO LEARN MORE:
Members of my private online club, The Nomad Society, get instant access to
nearly twenty hours of video - plus monthly reports - where they can learn:
• How to set up a self-directed IRA to protect your retirement funds
• The legal way to establish your offshore structure and remain compliant
• The best place in the world for your offshore trust
• Where to get net yields of 10% or more in foreign real estate
• My trusted contacts for buying real estate in my favorite boom markets
!
Sign up at www.nomadcapitalist.com/the-nomad-society/.
!
!
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THREAT #3: High taxes on “the rich” and business
!
Just who is rich? Allow me to make a simple suggestion: whomever the
government and the tyrannical majority want to suck money from today.
!
The reality is, governments can’t tax the “1%” forever. History shows us that
with each tax well that runs dry, a new crop of “perpetrators” is created, the
same way the government of Rhodesia blamed white landowners for their
troubles or Hitler blamed the Jews. The playbook seldom changes.
!
When you study the history of truly bankrupt empires, you’ll discover that
eventually, anyone with two nickels to rub together was branded Public
Enemy #1.
!
After all, if much of the country is starving on rations of government cheese
while taking the bus, even a guy driving a beat-up Kia becomes the object of
scorn.
!
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If you’re an entrepreneur or investor, you are especially in trouble. Western
mindsets have shifted. Having started businesses since I was 19 years old, I
can tell you hiring and human resources were my most dreaded role.
!
That’s because, as the business owner, I wanted to get things done. I didn’t
start a business in order to create jobs. I created a business to build freedom
and become as wealthy as my efforts could carry me.
!
I noticed a trend in the west that society has told employees they are being
screwed by their boss. How many times have you heard an employee
complain about his or her salary, only to compare it to the vast profits of the
company? Employees rarely know the true inner workings of the company, or
else they’d start their own company.
!
Yet western society has taught them that they are victims to the evil business
owner who lives in a nicer house or can afford to take a vacation every once
in awhile. Rather than everyone aspiring to their own greatness, the west has
become a source of class envy.
!
I don’t see this phenomenon when I travel to the world’s new boom markets.
People in China or the Philippines or Mexico have begged me to have a job.
They want the experience, the prestige of working for a westerner, and the
presumably better pay and stability.
!
Don’t try and tell this to western politicians. Despite the realities of the world,
they’ll gladly mandate $15-an-hour minimum wages, endless employment
taxes, non-stop regulations, and any other measure they can to ensure that
you, the business owner, get as little as possible.
!
Just look at the propaganda they put out about CEOs making “too much”
more than the average worker.
!
If you’re an investor, this will hurt you equally as much. The second the
Federal Reserve stops the printing press of easy money, stocks will fall to
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begin with (perhaps even before, if anyone wakes up). Just wait until the
government takes a wrecking ball to business and slices your returns to a
fraction of what they are now.
!
During the financial crisis, the Hungarian government told its citizens that
they must either hand over their private retirement savings (their equivalent
of IRAs, 401(k)s, etc.) to the state, or else they would be cut off from receiving
their state pension (like Social Security). However, even if they chose to take
personal responsibility and forego government retirement benefits, they’d
still have to pay for them!
!
Unfair? Sure. But not to government. They can literally do whatever they
want, right down to requiring by law that you pay for services you don’t
receive.
!
To that point, I believe anyone with capital deployed in the west will be hurt.
If you’re a real estate investor, consider that local governments could easily
make up revenue shortfalls - with little political resistance - by imposing a
“luxury tax” on high-end homes. Or a special assessment on rental
properties.
!
I can hear it now: “We’ve got to make these greedy slumlords who are taken
advantage of poor, middle-class renters pay their fair share. The gravy train
for rich landlords is over.”
!
One strategy I’ve discussed on Nomad Capitalist is buying small condos to
rent as vacation properties. The yields can be excellent, any many people
have done this in cities like Las Vegas, where a huge tourist market makes it
an easy task.
!
However, look at what cities like New York, Los Angeles, Amsterdam, Paris,
and others, have done to websites like Airbnb (vacation rentals) and Uber
(peer-to-peer taxi service). They’ve shut them down - or tried - in order to
protect their crony capitalist friends in the hotel and taxi businesses. That’s a
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big hit for investors in those companies, and all the more reason to invest in
properties and business overseas, where draconian regulation isn’t a matter
of course.
!
Just because you don’t feel rich today doesn’t mean you won’t be rich in the
future. Or, at the very least, be “rich” according to some morally bankrupt
politician who will throw you under the bus for his shot at power.
!
As I’m fond of saying, it all comes down to culture. People in the United
States and much of the west have been taught for years now to believe that
wealth is evil. Business is evil. Hard work shouldn’t be rewarded, at least not
in a free market way.
!
All you need to do is look at the 2012 US Presidential elections and see that
the guy who made vague promises about “everyone getting an education”
and “everyone having a chance” was the one who got elected.
!
The American - and Canadian, British, etc. - people have spoken: they like
the kind of wealth redistribution that politicians like this have to offer. And
they really don’t care too much who gets hurt as long as their check comes.
!
Those getting a check have nothing to lose. If you DO have something to
lose, it could be on the table for the taking.
!
NEW SAFE HAVEN STRATEGY #3:
Offshore businesses and trusts
!
You are not compelled to conduct business in a jurisdiction that treats you
with disrespect. While politicians want you to believe that you are restricted
to earning money within their borders - convenient for taxation - you can earn
money wherever you please.
!
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STRATEGY: USE AN OFFSHORE CORPORATION (AND LIVE OVERSEAS)
Your business is only subject to taxation so long as you fall under your home
country’s tax laws. This is where you can learn a valuable lesson from
companies like Google, Apple, and Starbucks.
!
When you incorporate a business offshore, you are subject to the laws of that
country. Countries that have set up offshore financial centers (commonly
known as “tax havens”) have done so in order to be competitive. After all,
how else beside tourism would Nevis prop up its economy?
!
Contrary to popular belief, low or no taxes doesn’t mean a “banana
republic”. Countries like Singapore offer very low taxation on businesses,
while countries like Hong Kong offer no taxation on trade outside of their
borders. The traditional tax havens in the Caribbean, Africa, etc., offer zero
taxation and have few requirements beyond paying a small annual fee to
keep your corporation in good standing.
!
Of course, as a citizen and/or resident of your home country, you are also
subject to that country’s tax laws. Americans, who are taxed on their
worldwide income so long as they are citizens, should consider living outside
of the United States to maximize their benefits. Consulting with a professional
is important to make sure you are getting the maximum benefits from your
offshore structure, especially if you are a US person.
!
STRATEGY: START AN OFFSHORE TRUST OR FOUNDATION
!
A trust is not an offshore structure, but rather a contract between two parties
on how to manage money for the benefit of a beneficiary. Offshore trusts are
not only strong vehicles for asset protection and to protect against wealth
confiscation, but as ways to invest money around the world and reduce or
eliminate one’s tax burden.
!
One strategy often used by planners is to establish an offshore corporation
owned by an offshore trust. With this setup, one can invest in real estate,
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stocks and bonds, or almost anything else around the world and avail himself
of the lenient tax laws of the jurisdiction where the trust and corporation are
established.
!
Typically, offshore corporations - usually International Business Corporations are forbidden to do business in the country where they are established, or
else they risk paying tax. So make sure you don’t establish a company in a
jurisdiction where you wish to live or invest.
!
STRATEGY: START A REAL BUSINESS OVERSEAS
!
If you haven’t started your own business yet, or are simply tired of the high
costs, high regulation, and high competition in your home country, consider
starting an actual business in another country.
!
While economies like that of the United States and Europe are barely
growing, and in some cases shrinking, economies in much of Asia, South
America, and Eastern Europe are thriving. In some countries, starting a
business is not only incredibly easy from a regulatory standpoint, but also
incredibly easy in terms of finding success.
!
Starting a business overseas is an option would-be entrepreneurs in
developed countries can consider because start-up capital is often much less.
I’ve personally met with entrepreneurs who started their own brewery and are
now on par with the two established beer brands in their country. I’ve also
met local entrepreneurs who started a beachfront bar with only $3,000, and
are living a life most can only dream of.
!
Just go overseas to almost any emerging country and you should be able to
instantly spot business opportunities. Many Americans and westerners have
simply replicated successful ideas they saw at home. For example, even
Indonesia - a country of 250 million people - has no Amazon or similar service
for ordering books online. South Korea, one of the wealthiest countries in
Asia, is clamoring for real Mexican food, but only has Taco Bell.
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!
STRATEGY: START A LOCATION INDEPENDENT BUSINESS
!
If you want to travel the world or be fixed to no place in particular, a location
independent business is an excellent road to take. Popularized by Tim Ferriss’
book “The Four Hour Workweek”, a location independent business is often a
website where you sell drop-shipped products, digital products, or services
through a website.
!
Many location independent business owners have even established websites
that sell nothing, but rely on people clicking on Google ads or buying
products from Amazon to pay them. These sites have no interaction with their
customers, and merely rely on payment from Google or Amazon.
!
The possibilities for a location independent business are endless. Find a
niche product (perhaps something interesting overseas that isn’t available at
home) and sell it. Start a blog and sell products on the topic. Take your
experience from your last job and offer yourself up over the phone as a
consultant.
!
By living overseas or being a perpetual traveler, you can choose where to
operate your location independent business, and where to pay taxes - or live
a lifestyle that frees you from taxes altogether.
!
WHERE ARE THE SAFE HAVENS?
!
The best jurisdiction for your offshore corporation will vary based on what you
want to accomplish, the size of the business, and who your customers are.
For highly transparent, well-respected structures for substantial businesses,
Hong Kong is an excellent option, as is Singapore. Both have audit and
compliance requirements and are more expensive than the average “tax
haven”. But if you want to avoid the stigma of being located in a tax haven,
these countries are good choices.
!
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Other offshore jurisdictions include Seychelles, Belize, and Nevis. Panama
may remain a good option for some, but the government flirted with taxing
Panamanian corporations on their worldwide income recently, raising
questions about their motives.
!
It is highly recommended to consult a professional before setting up an
offshore structure, because setting one up incorrectly could nullify your ability
to earn income tax-free or claim other benefits in your home country.
!
For offshore trusts, consider Cook Islands, Anguilla, or Nevis. Foundations
were originally started in Europe as the civil law answer to trusts, however,
some common law jurisdictions also offer them now.
!
If you are hosting a website for your business, consider hosting it offshore. In
fact, your country’s tax code may require you to do so. Iceland is establishing
itself as a strong freedom of speech jurisdiction, while Norway and the
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Netherlands are also strong options. Romania is also known for affordable
tech labor and very fast internet speeds.
!
HOW TO LEARN MORE:
Members of my private online club, The Nomad Society, get instant access to
nearly twenty hours of video - plus monthly reports - where they can learn:
• Who to call to incorporate your offshore structure
• A 101-level primer on ALL the tax laws and things to consider before you
set up an offshore company or trust
• The best type of offshore company for you
• Location-specific suggestions for establishing a business offshore
• The easiest place in the world to start a business
!
Sign up at www.nomadcapitalist.com/the-nomad-society/.
!
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THREAT #4: Citizenship devaluation
!
Let’s discuss a question most people have never asked: Who owns your
citizenship?
!
Inherently, human beings all want to be free. We believe that we possess
certain inalienable rights that no one can take away from us. And among the
most closely held things in life for many people is their nationality.
!
For much of the world, nationality is a defining trait. It indicates where a
person is from, even if doing so is self-limiting. But as much as we want to
cling to our nationality, you should understand this important lesson: your
government, not you, is in total control of your citizenship.
!
While the government can’t take away the fact that you were born on their
soil, or that you grew up in their culture, they can take away your passport.
And they can use your citizenship against you by defining “treason” as
whatever they want it to be.
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!
Consider this: in the United States, your right to a passport is under attack.
One wrong move and you could be denied the right to even leave your own
country.
!
For example, the IRS is constantly pushing for more draconian rules that allow
it to cancel your passport - or stop your ability to get one in the first place for owing back taxes.
!
Currently, a federal tax debt of $50,000 or more is enough to get you on their
no-fly list. If you are a high earner, you know how easy that kind of debt is to
rack up. However, consider that anyone selling a home, a business, or any
other asset could easily accumulate that kind of debt. And when you consider
that I had money taken from my bank account for taxes I already paid once,
you realize that even having paid your taxes is no guarantee that some
bureaucrat will think you owe them something.
!
In addition, Americans with back child support obligations of $2,500 or more
can have their passports canceled, no questions asked. Judges in civil actions
- let alone criminal cases - can request passport cancelation in order to keep
you in their jurisdiction. The ways to have your passport canceled are
staggering.
!
The fact is, your government can turn your passport off at any time. If you
only have one country’s passport, your ability to escape tyranny, mayhem, or
any other form of malaise would essentially be rendered impossible.
!
However, you don’t have to wait for your passport to be canceled to suffer. As
we speak, Americans in particular are being shut out of more and more
economic opportunities abroad, merely because they carry a US passport.
!
The United States government, in its endless crusade to stop “terrorism” and
“money laundering”, passed a law called the Foreign Account Tax
Compliance Account (“FATCA”) several years ago. Among other things,
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FATCA makes every offshore financial institution an unpaid tattletale for the
IRS. Every foreign bank and “financial institution” (a term defined exclusively
by, you guessed it, the US government) is subject to report all activity
regarding Americans, or those believed to be Americans, or else face a 30%
withholding tax.
!
FATCA is the ultimate form of financial imperialism: the US government
telling banks from Singapore to Suriname that they must report to it, or else
be taxed by the great and powerful “America”.
!
As a result, some banks have shut off access to US persons altogether. Gold
storage and logistics firm Viamat told its American clients it was sending their
gold back to them if they didn’t move it first. Banks around the world have
simply closed their doors to Americans, rather than pay $100 million or more
in compliance costs.
!
Peter Schiff, who spoke at my Passport to Freedom conference, said his bank,
based in St. Vincent and the Grenadines, doesn't accept Americans because
it quite simply “can’t afford to”.
!
Carrying a US passport is becoming the ultimate capital control, as the
American government seeks to shut off financial escape hatches for its
citizens. I believe these conditions will only get worse, as the government
realizes vast wealth is leaving a bankrupt country that needs that wealth.
!
As if all of this weren’t bad enough, Americans and other western
nationalities have a bad reputation when traveling overseas. There are some
great real estate investments in Iraq right now, but do you want to enter Iraq
on the passport of a country that was blowing the place up for a decade?
!
In this case, I prefer to take a page from the many immigrants who have
come to American soil seeking opportunity. Many of them became US
citizens (something I highly recommend against these days), but retained
their home country citizenships, as well. Dual citizenship is a powerful
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diversification strategy. When one passport becomes an albatross, you have
another to use.
!
NEW SAFE HAVEN STRATEGY #4:
Citizenship insurance
!
Many people are not even aware that they are entitled to get a second (or
third, or fourth) passport. It’s completely legal, and most countries - including
the United States - recognize dual citizenship. In fact, while a few developed
countries like Singapore outright prohibit maintaining two citizenships, many
countries have been liberalizing their laws to allow their citizens to have a
second nationality.
!
STRATEGY: GET A SECOND PASSPORT
Having a second passport doesn’t make you a slave to more countries; it
expands your options on a global scale. Particularly if you are American by
birth, having dual nationality expands your opportunities to live and bank
overseas.
!
Of course, to have a second passport, you first need the citizenship that
allows you to apply for that passport. There are three ways to do that:
!
1. Invest in “economic citizenship”. Also called “citizenship by
investment”, this is usually the fastest and easiest way to get a second
passport. The process is straightforward: a country will confer citizenship
upon you in exchange for an investment in the country or purchase of real
estate. There used to be a number of countries offering such programs;
even Ireland had an economic citizenship program. In the late 1990s,
several of the programs went away thanks in part to bullying by the US
government. Today, several countries offer economic citizenship
programs “off the rack”, with several other countries offering more
tailored options.
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2. Live overseas and wait. If you’ve ever seen immigrants become
naturalized in your own country, you understand how this works. Many
countries will allow you to legally move there via their formal residency
process. This can range from simply proving a minimum amount of
income in one country to starting a business and guaranteeing minimum
taxes paid or employees hired in another country. The point of obtaining
residence in another country - besides simply wanting to live there legally
- is to start the clock on future citizenship. Many countries, but not all,
allow foreigners to become naturalized citizens after a certain amount of
time living there. Some require knowledge of the local language or the
country’s history, while others don’t. Some countries don’t even require
you to live full-time in the country to qualify for future citizenship. The
timeline to qualifying for citizenship can range from three years all the
way to twenty years, so choose wisely.
3. Check your family tree. It’s possible your family tree qualifies you for
citizenship in another country. Some countries, mainly in Europe, allow
you to reclaim citizenship from family up to two or three generations
back. A few other countries even allow you to claim ancestral citizenship
based on your religion or if your ancestors were persecuted on their soil.
!
STRATEGY: LIVE OVERSEAS
Living overseas in and of itself won’t solve all of your problems if you only
maintain one passport. However, one step to obtaining a second passport is
to live overseas in a country that is liberal in granting residency and future
citizenship to foreigners.
!
Living overseas also frees you from whatever draconian restrictions your
home government may place on its citizens. It’s not inconceivable to believe
that your country may make it more difficult for its own citizens to leave the
country, as was seen in places like the Soviet Union, East Germany, and
others. Being away from the madness may not protect your citizenship status
in the eye of a tyrannical government, but it could save your life.
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WHERE ARE THE SAFE HAVENS?
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The best place to get a second passport will depend on where you live,
which passport(s) you carry now, and what your goals are. Remember, you
don’t have to live in the same country as your second citizenship.
!
Nicaragua and Panama offer straightforward residency programs, especially
to Americans. All you need is a small monthly income or a few thousand
dollars to put in the bank. You can also get residency in Panama by investing
in certain long-term, high-yield agricultural projects.
!
In Asia, Malaysia is a great place to live, although you can’t get citizenship. If
you have a high net worth, Hong Kong will offer you permanent residence
without much fuss. For the more adventurous (or a young entrepreneur),
residency in Cambodia can be obtained for a few hundred dollars, and
economic citizenship is possible if you actually live and invest there.
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For second passports, individuals with family history in Italy and Ireland can
easily apply for citizenship if their ancestors left within a few generations.
Jews, or those willing to become Jewish, can get fast tracked naturalization in
Israel through the “Law of Return”.
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For those looking for instant citizenship, St. Kitts and Nevis is the longest
running and most respected economic citizenship program, going since
1984. It beats out other Caribbean programs in terms of quality, but will cost
easily $500,000 in overpriced real estate and fees. Malta, off the coast of
Europe, has suspended its program with a $1 million price tag.
!
HOW TO LEARN MORE:
Members of my private online club, The Nomad Society, get instant access to
nearly twenty hours of video - plus monthly reports - where they can learn:
• The easiest country in the world for residency - and who I recommend
• My contact for high-yield, low-investment ag investment in Central America
• How to get residency in a developed Asian country with just a bank deposit
• One little-known ancestral citizenship almost no one is talking about
• How to get citizenship based on your Italian ancestry
!
Sign up at www.nomadcapitalist.com/the-nomad-society/.
!
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THREAT #5: Decreased income opportunities
!
If you’re an American, chances are you grew up hearing the story that, long
ago, your ancestors came from some hellhole country where they faced
political oppression and ate rats out of dumpsters.
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Stories like this are common in US history. One or two hundred years ago,
immigrants in places like Europe were told that streets in the United States
were paved with gold. That turned out to be as true as the modern day myth
that all immigrants left due to extreme poverty in their home country. That
said, many immigrants did go on to build great fortunes in the United States.
!
Today, many Americans and other westerners face a similar fate. Jobs are
hard to come by. While the US government, for one, has changed the
methodology of their statistics in order to make unemployment look better
than it really is, the reality is that tens of millions of westerners have no job.
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!
In places like Spain, youth unemployment exceeds fifty percent. Young adults
in Ireland, many of whom returned to their homeland during the Celtic Tiger
period, have once again emigrated to more prosperous countries as jobs for
youth are hard to come by.
!
Meanwhile, a new healthcare law in the United States threatens to cut fulltime work in fields where employers can little afford to provide expensive
benefits to workers. Yet, rather than improve their skills and adapt to the new
reality, those without jobs blame “the rich”.
!
There is an interesting map that shows the evolution of “earth's economic
center of gravity”. Basically, it plots out, over time, the average center of
economic activity in the world.
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In 1 AD, the economic center was near modern day India. Over time, it slowly
moved to the west, reflecting the dominance of Europe and, by the 1900s,
the United States. Then, in 1950, the trajectory stopped dead in its tracks
over Iceland. And ever since, it has slowly been moving back to the east. In
fact, the economic center of the world has never moved so quickly in any one
direction.
!
Legendary investor and author Jim Rogers suggested that a smart man in
1800 would move to London. In 1900, he would move to New York. And in
2000, he would move to Singapore or Hong Kong.
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Seeing the world’s new boom markets can be incredibly exciting. But is the
growth of China, Asia, and the Middle East cause for concern in the west?
!
I believe it is. For one thing, I am a believer that culture actively influences a
nation’s economy. The countries with pro-business, go-get-‘em cultures tend
to do well. Cultures that promote laziness and projecting blame don’t do
well. The United States and much of Europe have become soft, blame “the
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1%” for their failures, and seek to use socialism and fascism to fix their
problems, rather than letting freedom ring.
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In this way, I see a continued shift away from the west. That means fewer and
fewer jobs and fewer business opportunities. Some jobs will be swallowed up
by technology, while others will be sent overseas. In fact, I believe the
situation is worse than most people realize: while many low-skill jobs how
long been going offshore, the rising skilled middle class in many Asian
countries means those countries can now also compete for jobs that require
education or higher skills.
!
This is not to say that everyone in the west will become unemployed, but the
trend is disturbing. And the government reaction to economic crisis in the
west only indicates that the malaise will continue for some time.
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Consider taking a cue from your ancestors. When their local economy proved
inadequate for them to pay their bills, they sought opportunities elsewhere.
Or perhaps they merely wanted to be a part of the “next big thing”. Either
way, they went to where opportunity existed, rather than waiting for
opportunity to come to them.
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NEW SAFE HAVEN STRATEGY #5:
Overseas investments and businesses
!
Just because the economy where you live is falling apart doesn’t mean you
have to participate. You have the freedom to deploy your money anywhere
you want for maximum return.
!
After all, economic immigration has been going on for centuries. In fact, there
is a decent chance at least one of your ancestors left his or her home country
in search of greater opportunities.
!
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STRATEGY: START A BUSINESS OVERSEAS
At Nomad Capitalist, we support entrepreneurship and finding your own
personal freedom. If you have a job, start a location independent business or
find a country where you can start a business easily and with limited capital.
!
If you already have a business, consider expanding or relocating overseas.
The United States is the most competitive business market on earth.
Practically any idea you can come up with has already been done by
someone. Contrast this with fast-growing emerging markets where some of
the most basic business ideas haven’t even been started yet.
!
For example, frontier markets like Cambodia have a dearth of decent
restaurants that appeal to the western-aspiring youth, and the new upper
middle class. In many such markets, there are no metered taxis for tourists.
Online shopping has not caught on in many places as well, even though
some newly emerging countries have few stores selling western goods at
highly inflated prices.
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If your business can be based anywhere, why is it based in a high-tax, highcost country? Many entrepreneurs have seen success hiring staff in markets
like Vietnam and the Philippines, where they pay far lower labor costs yet get
greater productivity from a less entitled workforce.
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Overseas businesses are also subject to far fewer regulations than businesses
in your home country likely are.
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STRATEGY: GET A HIGH-INTEREST OFFSHORE BANK ACCOUNT
Just as you don’t have to suffer from slow economic growth to guide to your
career or business path, you don’t have to suffer from tiny interest rates thank
to your country’s central bank. If you depend on interest income, you may be
able to increase that income by moving your assets overseas.
!
Of course, sky high interest rates can often suggest an underlying issue in a
country. Why does a bank have to pay such high rates? In countries like
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Mongolia, banks in general are well-capitalized yet need funds to keep up
with the demand for loans at even higher interest rates. That’s why Mongolian
banks can afford to pay 6% on US dollar deposits, and more than twice that
on deposits in local currency.
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Contrast that with Ukraine, where currency issues - and eventual political
rioting - meant banking there was less attractive.
!
However, a balanced banking portfolio can increase your interest income.
Banks in Australia and New Zealand offer much higher interest rates than the
United States. You do have to absorb currency risk, however.
!
WHERE ARE THE SAFE HAVENS?
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Starting a business overseas largely depends on what type of business you
want to start. Many of the same opportunities exist in many parts of the
world, but the level of growth and culture in a particular country will
determine how well your business does.
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!
In general, the most promising opportunities for new businesses seem to be
in Asia and Latin America. Personally, I prefer the go-go-go business mindset
present in much of Asia, especially countries with a large Chinese influence.
!
For young entrepreneurs, I’m a big fan of Cambodia. There are people
running businesses there, especially in smaller cities, that never even
bothered to register with the local authorities. Malaysia is a good market that
offers access to plenty of middle-income consumers while still maintaining
low costs. And it’s very livable.
!
In Latin America, Mexico is among the most developed countries but has a
lot of room for growth, especially as more Americans view it as a favorable
tourism and retirement destination. Colombia is one of the hidden gems of
South America, and business is booming there despite Americans still
thinking of it as a drug haven. Paraguay is the Cambodia of the south, with a
no-rules attitude and plenty of opportunities, especially in agriculture, where
land is dirt cheap.
!
Once its political issues blow over, I see some promise in Turkey as well. For
the truly adventurous, many countries in Africa, such as Botswana offer
promise. Additionally, businesses targeting wealthy Russians and Chinese, be
it selling real estate overseas or any number of other ideas have potential.
!
HOW TO LEARN MORE:
Members of my private online club, The Nomad Society, get instant access to
nearly twenty hours of video - plus monthly reports - where they can learn:
• The offshore bank account paying 5% yield on US dollars
• How to start a business in a new country with very little money
• The best countries to hire high quality English speakers on the cheap
• How to avoid taxes at home when doing business overseas
!
Sign up at www.nomadcapitalist.com/the-nomad-society/.
!
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THREAT #6: Government spying and retribution
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Let’s go back in time about a dozen years. 9/11 had just happened.
Americans were more patriotic than ever, rallying behind their government to
fight the “Axis of Evil” - three countries that had nothing to do with any
terrorist attack on US soil.
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Back then, even “small government conservatives” were all in favor of
handing lots of power over to the federal government? The power to handle
airport security. The power to wiretap phones without court orders. The list of
offenses went on. After all, what could go wrong giving the world’s largest
government so much power?
!
As it turns out, a lot. Back then, few would have imagined Big Brother would
actually listen to their phone conversations, rather than just “the terrorists’”.
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Today, we know differently. The US government doesn’t just spy on its own
citizens; it spies on people all around the world.
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As we’ve seen throughout history, governments having a lot of “dirt” on their
citizens is rarely a good thing. Yet the United States and much of the
developed world have shamelessly adopted policies befitting of the Soviet
Union or East Germany. Encouraging people to spy on their neighbors is
reminiscent of the KGB, not “Homeland Security”.
!
Yet, just like any other government assault on freedom, there is little the
average citizen can do. The Constitution that allegedly prohibits their
tyrannical acts was powerless to stop them in the first place. Democracy has
been proven largely ineffective at stopping tyranny, as well; some of world’s
greatest tyrants were elected officials.
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You can “stay and fight” for your country, but why? Just as an aircraft carrier
can’t turn on a dime, large and obtrusive states can not become bastions of
freedom overnight.
!
In the meantime, citizens who continue living in tyrannical countries suffer
greater and greater losses of freedom. In the United States, the tax
authorities harassed countless non-profit political groups in violation of
federal law. In the Netherlands, the head of the Libertarian Party was thrown
in jail for subversive activities just before national elections. And, of course,
every day, millions of westerners are subject to having their crotches grabbed
at by government-paid airport security officials who claim total moral
authority over them.
!
It’s always entertaining to enter the United States and watch the propaganda
videos saying how “welcome” you are in the country, and how much the
government values your opinion of the immigration experience. In reality, just
try sharing your thoughts on the miserable treatment you get entering the
United States. No one cares.
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Meanwhile, radio talk show host Michael Savage has been banned from
entering the United Kingdom because of his “offensive” views on Muslims.
People who speak out against the US monetary system have been
imprisoned - for life, in some cases. France has laws against so-called
inflammatory rhetoric. Freedom of speech is dead in the west. And the
government is using that as an excuse to crack down on its enemies.
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I look for countries that understand just how bad the government can be. I’d
rather set up shop in Cambodia, where people still remember the atrocities
of the Khmer Rouge, than in the United States, where anyone not waving a
flag is branded as a traitor.
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I have friends in eastern Europe who told me visiting the United States was
like stepping back into the Soviet era. They said they had never seen so many
people waving the flag and proclaiming their nationalism, while photos of the
military saving the day adorned the sides of buildings and TV commercials.
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I’m not encouraging you to hate your country. What I am suggesting you
consider is that the most complacent societies are the easiest targets for
tyranny. And tyranny is underway in much of the west.
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NEW SAFE HAVEN STRATEGY #6:
Offshore assets and privacy strategies
!
The government is always right. At least in their own minds. That means that
no amount of spying on their citizens, reading of emails by the tax authority,
or biometric tracking at the airport is ever too much for them. Government is
like a good business in reverse: the customer is always wrong.
!
If you think your country’s Constitution will protect you from heinous
government abuses of power, think again. If the Constitution was worth its
salt, it wouldn’t have allowed abuses of power in the first place. A
Constitution shouldn’t require the “right people” to be in power to be
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effective. In fact, studying history, we can see examples of how elected
leaders from Hitler on down trampled on their country’s laws to create fascist
and totalitarian states.
!
Don’t count on anyone or anything else to protect you. If you want privacy,
you have to put procedures in place to ensure your privacy remains
unviolated. If you want to avoid scrutiny by increasingly totalitarian
governments, you have to prepare accordingly.
!
STRATEGY: LIVE AND WORK OVERSEAS
If you’re an American, you can never really escape the long tentacles of the
IRS. Even if you structure your financial affairs properly, you’ll still have to
report offshore bank accounts and structures you own until you renounce
your US citizenship. But that doesn’t mean that you can’t escape many of the
more draconian provisions of US law by simply relocating.
!
Consider the recent IRS scandal in which it was alleged that the agency
targeted conservative non-profit groups for retribution. What happened?
Certainly not much in the way of accountability from the IRS. Considering
such targeting happened not only under the Obama administration, but
under the Bush administration, I’d say it’s likely to happen again.
!
However, by removing yourself from US soil, you’ll be subject to fewer
regulations. Rather than run a business in the United States, you can run one
in a country that doesn’t believe in targeting people it disagrees with.
!
Of course, if you’re not physically present in your home country, it will be a lot
harder for them to round you up. While I’m not encouraging you to commit a
crime, we know that “crime” is whatever the government determines it to be,
and the definition can become very draconian. Imagine being a Jew in Nazi
Germany or a white guy in Rhodesia and you’ll realize why living outside of
your home country’s borders can be quite helpful - so long as you find the
right place to escape to.
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STRATEGY: USE OFFSHORE ONLINE PRIVACY TOOLS
While I use Gmail for some of my personal email, I realize it offers almost no
privacy. Big corporations have shown a propensity to cave into their local
government at the drop of a hat. It keeps their crony capitalism arrangement
going.
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If you want true email privacy, consider using a secure offshore hosting
service that uses strong encryption. This is just another way to diversify your
sovereign risk. There are plenty of services that offer strong privacy protection
and are based in jurisdictions that actually respect privacy.
!
Services like Skype are similarly compromised when it comes to privacy.
There are a number of tools that, for a small fee, encrypt your email, phone
calls, and chats online.
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STRATEGY: BASE YOUR WEBSITE OFFSHORE
If you maintain a website for business purposes, consider hosting it in another
jurisdiction. The United States government has shut down thousands of
websites, including those run by non-US citizens outside of the United States.
Anything they don’t like - online gaming, offshore pharmaceuticals, and more
- could cause them to shut your site down.
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Additionally, consider having a domain name that doesn’t end in “.com”,
“.net”, “.org”, or “.us”; these “top level domains” are managed by an
American company and the US government has said that they have free reign
to shut such sites down, no matter where in the world the site is located or
hosted.
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WHERE ARE THE SAFE HAVENS?
The places offering a reprieve from government spying aren’t what you might
expect. In fact, they are some of the countries with rather aggressive tax
regimes.
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For example, Norway has one of the world’s best policies on freedom of
speech. Because Norway is not part of the European Union, it can afford to
craft its own policies and stay out of bed with others who don’t value
freedom as much. Runbox is a Norwegian email service that offers better
privacy than Gmail, for instance.
!
One of the best places to host a website these days is Iceland. In fact, I wrote
an article for Nomad Capitalist discussing what is perhaps the best web host
for privacy - and its based in Iceland. The country has set up an initiative to
promote privacy and not to back down to other governments.
!
While its offshore banking sector continues to get beat up in the developed
world, Switzerland is becoming a haven for cloud services like offshore email
and web hosting. The Netherlands is another jurisdiction for web and email
hosting, and is perhaps the most popular as it has some of the largest
outsourced data centers.
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As always, consider the implications of being in any country which has ties to
some form of union, be it the European Union or otherwise.
!
HOW TO LEARN MORE:
Members of my private online club, The Nomad Society, get instant access to
nearly twenty hours of video - plus monthly reports - where they can learn:
• What to look for in a country when moving overseas
• My favorite tool for total privacy when chatting online
• The Swiss-based email service that actually protects your privacy
!
Sign up at www.nomadcapitalist.com/the-nomad-society/.
!
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THREAT #7: Hard to find like-minded people
!
I’ve said over and over that the new safe havens are all about culture.
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The culture of a country says a lot to me about how useful it is as a place to
invest, protect assets, or live.
!
Take one look at China. Like it or not, it is a culture built on hard work,
industriousness, and saving. When Chinese tourists vacation in Europe, they
often hit multiple cities in a single day. In part, they do this in order to
maximize the number of different photos they take to show their friends how
rich they are. But they also do it to be efficient, and maximize their time.
!
I read an article about a Chinese tour group in Europe that actually mocks the
local culture. The tour guide starts the day by playing the character of his
stereotypical local in Spain or Italy. “Oh, we’ve woken up… let’s smell the
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coffee beans”, he says mockingly, waving his hand in the air slowly to show
the thoughtful pace of Europeans.
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Then he breaks character. “No, we need to move fast!” The tour guide
explains that European culture - and its economies - are dying because of the
slow pace many Europeans have embraced. He pokes fun at their 36-hour
work weeks, something none of the newly rich Chinese in his group can even
fathom. They’re used to working 50, 60, 70 hour weeks to get ahead.
!
And when they do get ahead, they save. And save. And save some more.
While I don’t always agree with their chosen vessels for such saving
(California real estate, etc.), there is no doubt they think about the future, and
how to leave the next generation better than they were.
!
While China is not perfect, I believe that the Chinese culture is one to watch.
When I visit a new place, I often joke that I’m looking for the Chinese people
so I can follow their local investment strategies.
!
Don’t confuse a country’s culture with its government.
!
Now, contrast a forward-thinking culture like China with the culture of the
United States. I’ve long said the US is the “Paris Hilton of countries”.
Somebody, a long time ago, did something so great economically that the
benefits are STILL trickling down to people who, generations later, have no
clue why they’re rich.
!
They just know they’re rich. Combine that affluence with a jingoistic
arrogance and you have the United States of today. The reality is, the Chinese
government isn’t so bad when you compare it honestly to the US
government. After all, who likes to start more wars, jail more people, and
steal more private wealth than “America”?
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It turns out… no one. Yet most Americans are blissfully unaware that any of it
is happening, because they’ve been force-fed the propaganda that their
country is “The Land of the Free”.
!
To them, “America” is perfect. The economic holocaust hitting the rest of the
western world “could never happen here”. It’s almost as if many Americans
believe their country has some kind of magic pixie dust floating in the air that
prevents their country - and only their country - from any kind of hardship.
!
If you’ve gotten this far, I’m guessing you’re different than the average person
in your country. You can see the writing on the wall, and you realize that no
place is exempt from the effects of bad policy.
!
I don’t care how wealthy a country once was; when it prints out dollar bills like
inkjets are going out of style, there will be consequences.
!
That’s how Argentina went from being one of the five wealthiest countries in
the world, to a bankrupt totalitarian state in less than one century.
!
When it racks up nearly $20 trillion in debt fighting imperialistic wars and
creating fake stimulus programs that don’t create jobs, there will be a price to
pay.
!
Honestly, many of the people around you don’t NEED to care about this stuff.
They already pay very little taxes, if they pay taxes at all. They may be the
recipient of some form of government cheese. Their business may have
lucrative contracts with the government.
!
These people are benefitting from the party going on just a while longer… as
long as it’s not at their expense. In reality, they’re more than happy to make it
YOUR problem.
!
Several years ago, I was living in Ireland when the country passed a levy on all
income earners. Everyone had to pay 2% of their salary towards this special
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levy to help stabilize this country. While I’m no fan of taxes, I have to admit
that at least it was applied evenly.
!
And while the Irish didn’t like having to pay the extra tax at a time when they
could afford it the least, there wasn’t a ton of “make the rich pay” that you
get in other parts of the world. Everyone took their medicine together.
!
If you have assets in the United States, you should know you won’t be that
lucky. Your neighbors don’t need to care about the coming economic
collapse because they won’t be the ones paying the price.
!
Yes, they will ultimately pay the price when their job is shipped overseas to a
more favorable jurisdiction (or when minimum wage goes to $15 an hour and
McDonald’s replaces them with a computer).
!
But you will be the one who will see the full effect of the death of the west.
Your retirement funds will be converted into worthless government paper if
not seized. Your taxes will go through the roof. You will have capital controls
imposed on you, prohibiting you from moving large amounts of money, or
from taking money out of the country.
!
They may even confiscate your gold or other assets. At the very least, they’ll
legislate you into poverty.
!
You likely live in a culture that doesn’t respect wealth. Today, those with
wealth are demonized. You may think that you are exempt because you don’t
have “a lot of wealth”.
!
But history shows us that “a lot” is subjective. If you earn $10,000 a year in
Cambodia, most people there would consider you “rich”. “Rich” is
subjective. It starts out targeting the Rockefellers, but eventually trickles
down to anyone with one dollar to their name.
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After all, most people in the United States have a negative net worth. To
them, simply not owing anyone could be considered “rich”. If you own a
business, have investments, own stocks or mutual funds, or take nice
vacations, you’ll become Public Enemy Number One.
!
The government will see you as a prime target to extract wealth from. You
can’t cure fiscal recklessness simply by taking in more money. So once the
government has extracted all the money they can from the “1%”, they’ll need
more. And they’ll eventually get to you.
!
I believe that associating with people who understand what is going on in the
world is of paramount importance. Living your life amongst people who don’t
understand what is coming - or who believe they stand to benefit - will only
discourage you from doing what you need to do.
!
Someone with a mortgage that’s underwater, $500 in a checking account, and
three overdrafts doesn’t need an offshore trust. They have nothing to lose,
and chances are they’d be more than happy to take your money in the form
of unemployment benefits, food stamps, child care credits, and whatever else
when the time comes.
!
Find a group of people who share your values and understand what is
coming - then work together to build a strategy that maximizes your freedom,
your business and investment opportunities, and your life enjoyment.
!
NEW SAFE HAVEN STRATEGY #7:
Connect with people who share your views
!
The world can be a lonely place when you feel no one understands how you
feel. Worse yet, surrounding yourself with people who don’t understand your
forward thinking mentality can cause you to question otherwise good
decisions.
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Fortunately, the world is more connected than ever before. It’s why I call the
era we are entering “The New Golden Age”. The opportunities to not only
prosper in new boom markets, but to develop a solid social structure in the
process, has never been greater.
!
Just traveling, living, and doing business overseas opens your mind to new
people and opportunities. I can’t tell you how many friends I’ve made with
people who truly understand me… merely by positioning myself in a place
where people agree with me.
!
Your country, and the culture that comes with it, only represents one segment
of the global population. If you don’t feel welcome where you are, it may be
time to make a change.
!
STRATEGY: BECOME A MEMBER OF THE NOMAD SOCIETY
I’m a huge believer in the power of networking. I travel almost every day of
the year in my quest to meet the most influential and best connected people
in countries all over the world. Not every place I go offers great
opportunities, but vetting each place is part of my process.
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And along the way, I’ve met some of the world’s most interesting people.
Entrepreneurs who left home to stake their claim in a new market - and have
become millionaires in the process. Investors who have discovered an idea
with huge potential. Politicians who will do anything to bring western wealth
and business acumen to their shores.
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If you had the ability to network with people like this, your life could be vastly
more prosperous and enriching.
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That’s why I created The Nomad Society, my own private club online. The
Nomad Society is for people who share your beliefs and vision. They “get”
you. It’s a place for like-minded people to not only learn from some of the
world’s top experts, but to connect with each other.
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nomadcapitalist.com!
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To learn more, visit www.nomadcapitalist.com/the-nomad-society.
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This is your personal invitation to join The Nomad Society. I limit membership
to people who truly share my vision for international diversification and open
mindedness. The fact that you’ve made it this far shows we’re on the same
page.
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Members get access to new information about the topics discussed in this
special report - each and every month. Month after month, I deliver fresh,
new content from my rolodex of trusted experts around the world. In just one
month, you might learn, step-by-step, how to get residency in Nicaragua,
and how to invest in Cambodian real estate. Plus, you always get access to
my trusted contacts to help you accomplish your goals.
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I’ve spent hundreds of thousands of dollars and years of my life building a
network of people I trust to help me accomplish my own goals. I’ve dealt with
a lot of people who don’t get the job done. And I’ve heard from people who
have been outright scammed by people they dealt with.
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The Nomad Society helps you accomplish your goals - whether they include
living overseas, finding better investments, or just opening an offshore bank
account.
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It’s the easiest, most affordable way to have your hand held. Any one of the
experts I refer you to each month could charge as much as $1,000 or more
just to walk in their front door - if they even consult with the general public at
all.
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To learn more, visit www.nomadcapitalist.com/the-nomad-society.
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Members get advantages non-members don’t. For instance, my go-to asset
protection attorney recently offered members a free thirty-minute
consultation with him. He would normally charge the general public $500 for
that privilege - if he had the time at all.
nomadcapitalist.com!
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I’ll be honest: membership in The Nomad Society isn’t necessarily cheap. It’s
not another $10 a month membership site. But the information you get far
surpasses what you pay. In fact, just one piece of information could easily
make or save you the annual membership dues.
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And while it’s not cheap, I’ve made sure it’s affordable for almost everybody
who is serious about making, growing and protecting money overseas.
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In addition to all of the information you get, though, The Nomad Society also
offers members-only meet-ups throughout the year. It’s your chance to
interact with and learn from some of the world’s most interesting people.
Imagine how much you could accomplish connecting with savvy investors,
entrepreneurs, and expats.
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To apply for membership, go to www.nomadcapitalist.com/the-nomadsociety. The Nomad Society isn’t for everyone - and I don’t want it to be but it is for serious people who have made it this far.
nomadcapitalist.com!
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