Will the US government confiscate the gold held by its citizenry at some point, as they did in 1933? Will other countries, particularly the EU countries, follow suit? This subject is a particularly thorny one.
For many years, those of us who are not American have frequently advised our American friends of the coming economic collapse of the US, suggesting that they prepare a “back door” so that they are not trapped in a location that may well be a problematic and even dangerous place to live for themselves and their families.
Some people are more observant than others. Some are more capable of thinking outside the box than others. Whether this is by nature or nurture is a moot point.
Just when you thought there was nothing more the US government could do to motivate you to ship your financial life offshore, they came up with another one. And if you have a sizeable net worth, it’s a big one; you could save your family $2.2 million in taxes by acting on the opportunity during the next 21 months. A husband-and-wife effort could save twice as much.
For many years, we have been predicting that the die has been cast for economic and political cataclysm for the US economy and, by extension, that of the first world. Not surprisingly, the reaction by most others over the years is that the sun is still shining and that only a “Chicken Little” would be predicting a major storm. During this period, most people have said, “We’ll deal with it if it comes and not before.”
If everything you own is held in your own name in your own country, then you are not merely exposed, you are vulnerable absolutely, to whatever decisions the government might make about how you should behave and who gets the wealth you’ve earned.
Page 52 of 52 pages