El Conquistqdor Francisco de Orellana

El Conquistqdor Francisco de Orellana
The Conquistador who put the Amazaon baisn "on the map"....Francisco Orellana

Saturday, November 19, 2011

When America gets tough, the tough look offshore

By Jeff D. Opdyke, Editor, Th

America has become a country of deep philosophical chasms, and there now emerges the very real possibility the turmoil will tear the nation asunder.
Over the next 12 months, as America enters presidential-election season, the fight that is coming will determine whether the country swings decidedly right or left, because the winner will rightly claim a mandate to either continue on the current path into the dark night of socialist thinking ... or reintroduce morning in America.
The divisions in this country have already been brought into stark relief. For instance, 46% of Americans believe in a right to bear arms; 46% don’t.
44% believe marijuana should be legalized; 54% don’t.
45% of Americans support ObamaCare; 42% don’t.
No one can deny that during the past decade, America has changed for the worse... e Sovereign Individual

We’re Living in Orwell’s Dystopia

It is just over 10 years since that unforgettable day in September 2001, when two planes slammed into the World Trade Center in apocalyptic fashion and changed America forever.
In spite of what our politicians tell us, America did not recover from that hammer blow. Today, we are worse off - not because of the terror, but because sycophantic politicians wrapping themselves fraudulently in patriotism, and the Americans who pardon their antics, allowed Osama bin Laden’s act to undermine our freedoms, liberties and ideals.
Electronic strip-searches at the airport...
IRS reporting rules that require merchants to disclose transactions of $10,000 or more or which require you to report foreign financial accounts...
Warrantless electronic surveillance of U.S. citizens...
Secret searches and electronic eavesdropping on Americans by the National Security Agency (with the President’s blessing)...
It’s all an eerie manifestation of Orwell’s dystopian 1984.

But The Tragedy Doesn’t Stop There...

America ended 2000 with a budget surplus of $236 billion, yet today she’s technically bankrupt, addled by annual deficits exceeding $1 trillion and with no honest options for repair - and, worse, a political process that is broken, dysfunctional and self-serving.

We’ve depleted our national treasure on wars of personal revenge and vendetta, spending more than $1.2 trillion - and counting - on conflicts in Afghanistan and Iraq that have accomplished little of national significance. Our accumulated debts now exceed $14 trillion, nearly 100% of GDP.

At The Sovereign Society, we know exactly how we would solve the debt crisis - but it would have nothing to do with Fed chairman Ben Bernanke’s redux of Operation Twist, which aims to stimulate the economy by pushing medium and long-term interest rates lower.
Our solution is simple - though it is one the Keynesian-minded, wealth-destroying automatons in Washington refuse to consider.

Firstly, kill ObamaCare.

It’s unconstitutional - no government should force its citizens to buy any product under threat of financial penalty. Business executives are so uncertain about the financial impact ObamaCare will impose they have no desire to hire new workers. The added costs only serve to make American businesses less competitive in the global marketplace.

Second, throw away the entire 71,600-page U.S. tax code and start from scratch.

Ensure that everyone pays a little something for the right to live in the freest nation on Earth. There is no reason 51% of American taxpayers effectively pay no income tax - and even less reason why 30% of taxpayers made money off the tax system through credits.

Reduce corporate income taxes while you’re at it.

Kill the various exemptions that individual industries have lobbied for.
And incentivize companies to repatriate the tens of billions of dollars sitting in corporate bank accounts overseas.

Unfortunately, none of those suggestions are likely to happen.

Instead, we have increased inefficient regulation at every turn. Obamacare will doubtless make matters even worse and will continue to work to dampen the animal spirit of American capitalism.

The outcome of the forthcoming election will have long-term ramifications for America.

There is Only One Thing Left To Do

We urge you to think about your financial parachute. Now is the time to have money in banks and brokerage firms overseas ... and in gold and land. You might even consider the possibility of a second passport or residency in another country. Because if fundamental changes in our political priorities and monetary policies don’t happen soon, America is going to become a very tough place to call home for anyone who has even a modicum of wealth.

A possible escape hatch is Asia, where growth is springing forth. Just look at the exploding economies in places like Phnom Penh, Singapore, Bangkok, Hong Kong.

Putting idle cash into EverBank’s Asian Currency Portfolio, for example, means you will inoculate yourself against the never-ending debasement of the U.S. dollar (a trend that has been ongoing for generations) by investing in currencies such as the Singapore dollar, Australian dollar, Indian rupee, Chinese yuan and Japanese yen - all of which consistently outperform the ailing greenback as Asia’s rising middle class fuels the growth of emerging-market economies.

There are a number of other countries that offer offshore banking, citizenship and tax haven opportunities.

Parts of South America - Uruguay in particular - can offer a nice golden parachute and soft landing. As Erika Nolan, Publisher of The Sovereign Individual, pointed out on earlier in the week, not only does Uruguay welcome the right people -- and clearly they are coming in steady numbers - it offers a delightful lifestyle and a myriad of real estate and land investment opportunities. At the same time, establishing Uruguayan citizenship is far from onerous.

In the event that life in the U.S. goes pear-shaped, we urge you to protect your future and the assets you have worked hard to accumulate for yourself and your family by going offshore.

Stay Sovereign,

Jeff D. Opdyke
Editor, The Sovereign Individual

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