That debt comes out to $54,730 for every U.S. citizen and $150,641 for each U.S. taxpayer. (Almost half of all Americans pay no income taxes.)
Across the world, in nearly bankrupt countries (think bank “bail-ins” in Cyprus), politicians are talking openly about forced confiscation of wealth — and the Obama administration is more than sympathetic.
It was the U.S. Congress that adopted the Foreign Account Tax Compliance Act (FATCA), a mechanism that makes global wealth confiscation easier for all governments.
There is even discussion of the U.S. government taking over all private retirement plans, IRAs, 401ks and the like. And how about that “one time” wealth tax, where banks will be ordered to turn over to the U.S. Treasury a percentage of your deposits?
Make no mistake — we are all at risk.
This often prompts public unrest and political instability, further spooking the markets.
My point is this: If wealth confiscation becomes a reality, it means that things here have gotten really bad. There will be civil unrest, and an even greater divide between the rich and the poor.
You’ll want to take yourself out of harm’s way.
Indeed, the signs point to wealth confiscation in the near future. With a little sensible preparation, you can be one of the few who weathers the storm.
How to Prepare
Step 1: Make sure your passport and vital documents are up to date.Step 2: Keep bank account balances to a minimum. The government can’t take what isn’t there.Step 3: Have cash on hand. In a crisis — cash is king.Step 4: Invest in transportable assets. Things like foreign currencies, gold, rare coins, stamps and art are easy to travel with.Step 5: Know exactly where you want to go. Pick the country you plan to escape to as soon as possible.