El Conquistqdor Francisco de Orellana

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

Thursday, March 13, 2014

The Only Way to Avoid Wealth Confiscation

The politicians who created the bloated and growing $17.3 trillion U.S. national debt are now planning ways to confiscate your wealth to pay off their bill.

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.
Moreover, in an effort to pay down debt, countries typically adopt austerity programs that severely restrict public services and government salaries, and, at the same time, slow the economy.

This often prompts public unrest and political instability, further spooking the markets.
Thus begins a socioeconomic and political spiral that can lead to collapse and chaos. Argentina is a prime example. At least seven people were killed in Argentina in December 2013 during a week of riots.

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.
It won’t be chaos on a global level — it’ll just be happening in the bloated Western nations.
Nobody expects the worst. But those who prepare for it are usually better for it.

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

Before I show you how to prepare, let me ask you …
Is it worth taking a few really simple steps today to protect yourself and your family from potential danger, financial ruin and chaos?
I’m sure your answer is the same as mine.
But I only ask you this question because I am certain a major crisis in America is coming … and I want you to prepare before it strikes.
If you wait, it will be too late. Your money will be taken from you and it could put your family in danger unnecessarily.
That’s why it’s important to plan now — before the confiscation and chaos begins ... so you can get out stress-free. Here’s what I suggest you do:
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.
Follow these steps and you’ll be ready to “get out of dodge” on a moment’s notice should you need it.
But, here’s the thing: There’s more to it than this.
As an expat who left America 30 years ago, I can tell you I’ve met hundreds of people who have left the U.S. for various reasons.
And most have made costly mistakes when leaving.  
They’ve alienated themselves from their families, had difficulty getting health care abroad, and one man I met was miserable after moving to a country he’d only seen online.
My point for telling you this is, I’ve seen it all when it comes to moving overseas.
I’ve seen successful moves and I’ve seen people head back to America with their tail between their legs.
That’s why I’ve been working on creating a resource for Americans who want to know how to plan a move overseas. It covers every last detail, from telling your family you plan on moving to choosing a destination that’s ideal for you.
Of course, I know many people won’t actually move out of the country, but I also know that every Sovereign Investor reader I spoke with at the Total Wealth Symposium last fall wants a Plan B in place just in case they need it.


Ted Baumann

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