Offshore Solution to an
Onshore Crisis By Bob Bauman JD, Chairman, Freedom Alliance Dear Sovereign Investor, The political and financial crisis engulfing America and Europe now dictates you do more than just talk about “going offshore.”
Don’t be put off by the constant drumbeat of the U.S. Internal Revenue Service (IRS) against offshore financial activity by Americans. Remember one simple fact: under U.S. law, it is legal for Americans to have foreign bank and financial accounts.
It is also legal for Americans to invest in foreign stock and bond markets and mutual funds, own foreign real estate and businesses, establish and fund offshore trusts and private foundations, deposit assets in foreign bank and brokerage accounts, purchase offshore annuities and life insurance and even convert U.S.-based retirement funds to offshore jurisdictions.
The major U.S. legal obligation is that offshore activity must be reported to the U.S. government and any U.S. taxes due must be paid on foreign income. These offshore safety nets are not just important for the wealthy— people of modest means need trusted offshore financial mechanisms now more than ever.
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As I write this, serious questions persist about the pending demise of the European Union and the euro- in spite of developments this week.
European banks still face 10s, possibly 100s, of billions of dollars in losses on loans to governments that use the euro.
Billions in sovereign debt could yet sink Greece, Portugal, Spain, Hungary and Italy, along with shaky banks in Germany and France holding their bonds. Counting the Whys This ongoing crisis only adds to the many good reasons why you should to go offshore. Here are just some of those reasons: - Diversifying your investment in carefully chosen foreign currencies, equities, funds and financial products is financially prudent - and profitable.
- Concern over the safety of the U.S. financial system and the U.S. dollar dictate a need for diversified wealth offshore.
- Business expansion into new and emerging markets and new sources of production require foreign accounts.
- Entities such as foreign corporations, private family foundations or asset protection trusts are essential for individuals and for international businesses-investment planning.
- Sophisticated people understand the need to diversify into foreign options as well as the benefits of stricter foreign laws to better protect their hard-earned assets.
- Doubts over the safety of retirement plans located in the U.S. A protected nest egg in a stable foreign country provides greater assurance for wealth-preservation.
- The law suit-happy nature of America has prompted wise individuals to preserve at least some of their assets in foreign jurisdictions, where the likelihood of successful creditors’ attacks is significantly lower.
- In the U.S., financial privacy under the PATRIOT Act is dead. Even though banking secrecy worldwide has been diminished in the name of catching illegal tax evaders, a number of foreign nations still provide far stronger confidentiality laws.
For many years, IRS and American high-taxing, big-spending politicians have seized on any spurious reason to try to justify attacks on the perfectly legitimate offshore activity of American citizens.
Always alert to the uses of demagogy, when the 2008 world recession was caused by U.S. and foreign banks’ improvident obsession with trading trillions in worthless paper, the cry went up that offshore havens had caused the collapse. That story died quickly when it became clear that the true culprits were the ones bailed out by the U.S. taxpayer. Just How Safe Are American Banks? Some of America’s recently bailed-out banks may be among the dominoes ready to fall when the EU goes.
For Italy alone, U.S. banks had $47 billion in net exposure to government borrowings and private debt at the end of June.
Goldman Sachs has $700 million in exposure to Italy. The loss from a write-down similar to that on the Greek debt, 50 cents on the dollar, would erase 10% of the $3.43 billion in profit Goldman earned in the first nine months of 2011.
The major fear is that the U.S. banks don’t have enough capital to cover losses from the euro zone.
With the coming economic collapse at hand, with the strangulation of financial and personal freedom in the U.S., the time to act to preserve your own wealth is now.
Salvation means the transfer of at least some cash and assets into reputable offshore banks.
It means personal meetings with veteran asset managers in jurisdictions that enjoy established histories of sound investment and currency management.
The Freedom Alliance was created by the Sovereign Society precisely for asset protection and better profits.
Drawing on our nearly 14 years of experience and extensive due diligence, we can put you in touch immediately with offshore financial advisors, professionals, banks and investment experts in numerous offshore financial centers.
Join us today and together we will find the right offshore solutions for you.
Faithfully yours,
Bob Bauman JD
Chairman, Freedom Alliance P.S. There’s no worse fate than becoming a slave to your own government. The longer we delay shielding our assets, the more our wealth will hemorrhage and the tighter those chains become. But you can choose not be a slave anymore. The Sovereign Society’s top experts’ have just released their most important secrets of the year - The Sovereign Survival Guide: How to Thrive During the Great American Meltdown. In this indispensable book, you’ll discover how to exploit offshore investment opportunities and build long-lasting wealth. You’ll also discover how to shield your hard-earned assets from frivolous litigation and government privacy invasions - to name but a few. Pry yourself from the grasp of a government that’s destroying our economy and wants to enslave you. Click here for a free copy of The Sovereign Survival Guide and learn how to become a truly sovereign individual. | >>RECENT ARTICLES | 11/30/2011
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