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Showing posts with label wealth. Show all posts
Showing posts with label wealth. Show all posts

Sunday, October 16, 2016

The only real option if you offshore your money is to keep it in gold

If you take into consideration all the extreme monetary policies and capital controls instituted by governments and central banks over the past six years you would come to the realization that offshoring some or a large portion of your wealth is no longer a luxury, but a necessity.  But in many of these controls that several governments have created to try to monitor, tax, and even confiscate one's wealth if they try to protect it from devaluation, the only real option is to transfer it into some form of asset that is outside the banking system.

And more than any other facility possible, that option is gold.

Under current U.S reporting laws, if you own gold offshore in an individual name, it is not a requirement that you report it to either the IRS or the U.S Treasury. However, if the title of the gold is held in the name of a legal entity, it must be reported but if it is held in your offshore account, it is reportable. So, owning and holding gold in an offshore account is completely legal. 
There are several reasons why people use offshore accounts to own and store gold. These include offshore confidentiality, protection, tax planning, privacy, and investment diversification among other things. A carefully planned and executed offshore account can assist you with each of the areas mentioned above. By transferring your gold to an offshore account, you are also protecting your asset to the fullest extent. 
It is easy to have some or all of your gold in an offshore account waiting for you when you need it. If in the event of a price movement you want to sell it, you can always hire a local lawyer and instruct them to act on your behalf. Considering that many countries, especially those in Asia, view gold as something in demand or money, it is often easy to sell and fetch better prices in Asian countries. 
If you choose to store your gold in a private vault facility, you also add a unique layer of privacy to your asset. This is because precious metals held in non-bank facilities, and more so gold, are not subject to government reporting. From Switzerland and Singapore to Austria and Hong Kong, there are many gold storage facilities in these privacy-friendly countries. - SMHPA
The financial system stands on the cusp of its next great crisis, with several banks this week forecasting collapse in multiple markets and infrastructures.  And whether it is in Germany with Deutsche Bank, Italy with their faltering banks, or the realization that the Fed, ECB, and Bank of Japan are out of options, the threat of bank bail-ins are now very real, as is the institution of even greater capital controls that will limit your ability to protect your wealth in the very near future.

Friday, September 30, 2016

If the rich aren't willing to store their gold in banks, then why should you trust them either?

Following the 2008 financial crisis the United States began a form a capital controls to try to keep individuals, businesses, and trusts from moving their wealth offshore.  And one of their primary controls is through a law known as FATCA, which gave the IRS a modicum of authority backed by SWIFT to find out all personal accounts and information held in foreign banks by American citizens.

But as we saw in the Panama Papers scandal earlier this year, what is meant as restrictions for 'little people' is barely a bump in the road for the elite and super wealthy who have access to alternatives that the 99% do not.  And one of these alternatives is the ability to offshore their wealth into special private vaults that are outside the touch of the U.S. government, and which may hold thousands of tons of gold outside the banking system.

For decades, Switzerland had a reputation for bank secrecy that made it the most sought after tax haven for billionaires from around the globe.  But, after more than 80 years of secrecy, a series of bilateral agreements with countries around the world, including America’s Foreign Account Tax Compliance Act (FATCA), have forced the private-banking industry in Switzerland to embrace an entirely new era of transparency that requires a full exchange of tax-relevant information with more than a hundred countries. 
Which, as Bloomberg points out, has been a huge boon for Swiss operators of private vaults which are not subject to the same transparency and reporting requirements as banks.  In fact, these super-secret, privately operated storage facilities buried around the Swiss Alps can basically store anything from anybody because they're not even required to report suspicious activity to Switzerland's Money Laundering Reporting Office.  
“There is growth in gold,” Wipfli says. “Since 2008 there has been a real interest in alternatives to bank deposits.” The company explicitly taps into that demand. Swiss Data Safe “is independent from the banking system and any other organization or interest group,” according to a PowerPoint presentation Wipfli shows clients. The company and its anonymous rival aren’t regulated by the Swiss financial-services regulator Finma. 
Nor do such companies have to report suspicious activity to Switzerland’s Money Laundering Reporting Office.In the past, submissions to the agency have led the Swiss attorney general to open investigations into corruption at FIFA, the global soccer body, and banking ties to Brazil’s Petrobras bribery scandal. 
Moreover, American citizens aren’t required under FATCA to declare gold stored outside of financial institutions either.  So perhaps it's no surprise that, according to the Swiss defense department, of the roughly 1,000 former military bunkers still in existence across Switzerland, several hundred of them have been sold to private individuals who are now operating them as private storage sites for the gold stash of the world's wealthiest of billionaires. - Zerohedge
The elites know that they cannot trust holding their wealth in a bank, and often go to extraordinary lengths to ensure it remains outside the hands of governments, regulators, and law enforcement.  So if the rich do not trust the banks to hold their money and assets, then why should you?

Saturday, September 17, 2016

Where are the best places in the world to store your physical gold, silver, and other precious metals

There are an infinite amount of analysts who have their own varying opinions on buying precious metals, and more importantly, how and where to store them.

Some through ignorance or agenda will swear by having their customers purchase gold through etf's or other paper securities, while others believe in the old axiom about property that says, if you don't hold it, you don't own it.

But with the world no longer being a place where it takes months versus hours to get from one location to another, and communications and access are just a Smartphone touchscreen away, the options available for you to buy gold in one place, and have it stored in another, is no longer a cumbersome process, and in many cases is the most prudent of measures.

Personally I believe in a five-fold diversification when it comes to precious metals and wealth protection.

1.  Have some cash on hand, outside the banking system

2.  Have some physical gold on hand

3.  Have some physical silver on hand as part of an investment plan

4.  Have the majority of your wealth outside of banks, and outside your local jurisdiction (offshore)

5.  Look into mining stocks for the speculative portion of your portfolio, and don't be married to them forever

Today nearly all markets are manipulated to a lessor or greater degree, including equities, bonds, interest rates, real estate, currencies, etal... and the days of buy and hold ended following the Crash of 2007-08.  And what is left are hard physical assets that are meant to be used as wealth protection and protection of your purchasing power from the profits and earnings you acquire through investments or salaries.

Yet when it comes to storing your wealth this can be one of the hardest choices to make, verify, and trust.  And in a new White Paper published by Sprott Money Lmt. last week, the long time metals institution laid out the best and most secure areas to store precious metals in your offshore portfolio.

Holding that gold outside the banking system, and for some, outside one’s own country, are increasingly popular options. Canada, Switzerland, and four other countries have particularly attractive characteristics. 
Those are the conclusions of a new whitepaper produced by Sprott Money Ltd.
Canada and Switzerland are obvious choices. The True North has fabulous natural resources, one of the world’s most stable banking systems and hasn’t been attacked in more than 200 years (the last two times the Americans tried to invade - during the Revolutionary War and the War of 1812 - things did not work out so well for them). 
Switzerland, which ranked first on the Tax Justice Network’s Financial Secrecy Index in 2015, has fabulous attractions as an offshore investment locale. These include a long history of offering investors a safe, discreet place to store assets. That applies doubly for gold, which has a better reputation in Switzerland than in almost any other country. 
The Sprott report also identifies Singapore, Germany, and the Cayman Islands as current good offshore storage jurisdictions. 
The paper also acknowledges that many other international jurisdictions such as Dubai, Australia, and Hong Kong are regarded as good locales, but acknowledges that changing geopolitical risks requires constant monitoring of domestic and international investment environments. - Zerohedge
Ironically, the U.S. made the list as well, but with a caveat... and that is, no financial institution or storage location is considered rock solid safe, and the best place to store your gold and other precious metals is with the individual owners themselves.

As with all investments, taking the time to research where to store your physical metals is just as important as taking the time to research a broker or investment house.  Because in the end, the responsibility for our wealth lies with us, and not with those who we might commission to hold it.

Thursday, September 15, 2016

Got gold? Goldman Sachs and Wells Fargo scandals show why it is no longer safe to store your wealth in a bank

Within the past seven days two major banks revealed why it is no longer safe to hold your wealth in financial institutions.  First with the Wells Fargo fraud scandal, where employees opened over a million fake accounts under real people's names to commit identity theft, and then with Goldman Sachs, who was discovered to have re-hypothicated customer deposits to use in making risky and speculative bets in the stock markets, the bottom line is that there are few protections available for depositors to protect their money in a bank today.

All this shows that not only have the regulators and the government accomplished nothing in 'fixing' the problems that allowed banks to commit fraud and crimes at will, but now they have given many of them some legal justification to do so... as in the case of Goldman Sachs where the Dodd-Frank Wall Street Reform Act turned your deposit into an unfunded liability that allows banks to do with your money as they see fit.

goldman sachs
As Goldman Sachs Group Inc (GS.N) has built its U.S. consumer bank, it has established a team to put its deposits to work on Wall Street, a telling development about Goldman‘s ambitions for the retail bank. 
Led by 40-year-old Goldman partner and credit trading veteran Gerald Ouderkirk, the team’s job is to use consumer deposits and other types of funding for trades, investments and big loans to earn profits, people familiar with the matter told Reuters.
It is no longer a matter of being prepared to deal with taking your wealth out of a bank only when a potential financial crisis appears on the horizon, as the possibility of you losing your money during even normal times is now just as great.  And in the end it is our responsibility, and not our brokers, bankers, or our government's, to protect our wealth and to know the playing field as it exists following the changes that took place after 2008.

Got gold?

Monday, September 5, 2016

As central banks funnel fiat wealth to the 1%, gold is becoming the opposite trade to funnel wealth to the 99%

Last week, the world's 'Bond King' Bill Gross continued his message where he proclaimed that stocks and bonds were invariably crap, and that the only true wealth protection right now is in gold and silver.  And at the heart of this clarion call is the fact that he believes the central banks are now in an unavoidable abyss where they not only have to continue to print massive amounts of new money, but also buy up every possible paper asset simply to keep the system going.

But in doing this, the central banks have also had to reverse a trend they were following last year when a large portion of them were out buying physical gold on the open market.  And since the majority of them are now net sellers of the metal at the same time they are net buyers of paper assets, it is creating a unique dichotomy where instead of simply using their policies to funnel wealth to the 1%, they are also opening the opportunity to funnel wealth down to the other 99%.

Not only is gold an auspicious color, culturally, on the mainland, but the People’s Bank of China has long been a major hoarder of its bullion form. Less so, though, as central bankers from Beijing to Brasilia cut gold purchases - by 40% in the second quarter alone. 
While monetary authorities still hold almost 33,000 metric tons of the precious metal, that marks the third consecutive quarterly drop and the longest streak in five years.
And yet, the gold price is rising - up 24% so far this year - even as the biggest buyers back away. What gives? For central banks, waning demand seems partly technical in nature. Weak global exports mean China and other major nations have recorded fewer cash inflows of the kind that normally drive gold purchases. The bigger question, though, is whether G20 leaders are internalizing the three reasons why negativity about the global outlook is driving gold. 
One, of course, is genuine concern about a global financial system still working through the trauma of 2008. Bond guru Bill Gross is making the rounds to explain the second: how central banks, including the Federal Reserve, “all have mastered the art of market manipulation” at the same time the Ph.D. economists on which they rely for advice “have lost their way.” In other words, lingering fear from 2008 and too much money chasing too few investments are combining to pump up safe-haven assets, and excessively so. - Barrons
Central banks are now selling physical assets to protect the new fiat money they are printing which is then being used to buy overvalued paper assets that invariably profit the 1%.  But in doing this they have kept the price of gold down where it can be affordably purchased by the 99%, and where the masses outside the ponzi paper scheme can have a choice and option to both protect and grow their wealth as the bank's failing policies come to a climax.

Thursday, August 11, 2016

Wonder why the U.S. is in a societal and political upheaval? It's the economy stupid!

Economic conditions are funny things, as they can engender demands for change when teetered on both ends of the pendulum.

When jobs are plentiful, wages are high, and the economy is good, rebellion against the norm is usually centered around a few ideologues who's own traumatic past causes them to try to seek to impose changes on the nation that aren't really necessary.  And they can attract affluent benefactors to their causes who may feel guilt from their own good fortunes.

A great example of this is the creation of 'Earth Day', where a small group of individuals established a cause which over the course of time has forced people and businesses to change their lifestyles, and at the loss of economic and monetary wealth.

Radical environmentalism is the last crusade modern youth can dedicate themselves to absolutely and ferociously. All talk of tolerance, nuance, empathy, and shades of grey goes out the window, replaced by a Manichean struggle of good versus evil, angels versus devils, the wise and concerned against the blind and selfish. That kind of moral certainty is exhilarating. People who have been raised not to seek it in most other areas of their lives desperately need a hit. 
Climate change mythology has crowded out most of the environmentalist concerns from previous generations, in part because industrial technology has done such an amazing job of addressing them. There’s always room for improvement, and there are some other environmental issues pop up on the radar screen from time to time, but it’s remarkable how much Green energy (of the political variety) has been pumped into the climate change movement. It gives people an easy way to assume intellectual superiority with virtually zero effort. It’s the eternal crusade, the insoluble problem, the hypothesis that can never be falsified, so it provides sustainable fuel for countless rallies and political power grabs. - Breitbart
Yet on the other end of the economic pendulum the responses are much more open, and much more violent.  As wealth inequality and the potential of making less than our parents did becomes the norm for much of the Western world, the activism that emerges from this side of the economic scale becomes much more vocal and much more public.

And whether we are talking about Occupy Wall Street, the rise of radical right-wing political parties in country's such as Greece, Italy, and France, or anti-establishment candidates such as Ron Paul and Donald Trump, these movements are intrinsically tied to ones economic state, and the real potential for individuals to move beyond their current situation.

Most people growing up in advanced economies since World War II have been able to assume they will be better off than their parents. For much of the time, that assumption has proved correct: except for a brief hiatus in the 1970s, buoyant global economic and employment growth over the past 70 years saw all households experience rising incomes, both before and after taxes and transfers. As recently as between 1993 and 2005, all but 2 percent of households in 25 advanced economies saw real incomes rise. 
Yet this overwhelmingly positive income trend has ended. A new McKinsey Global Institute report, Poorer than their parents? Flat or falling incomes in advanced economies, finds that between 2005 and 2014, real incomes in those same advanced economies were flat or fell for 65 to 70 percent of households, or more than 540 million people (exhibit). And while government transfers and lower tax rates mitigated some of the impact, up to a quarter of all households still saw disposable income stall or fall in that decade. - McKinsey
The goal is to find that happy medium where the majority of a nation's people are economically content, but not too affluent where they lose their drive and ambition to move beyond a certain economic status.  America had this in the 1950's and early 60's, but lost it in the search for materialism during the 80's and 90's.

Now however, the belief that one cannot succeed if they work hard, get an education, and play fairly is growing in every increasing measures, and this is one of the most important factors as to why the West is seeking radical change, and why some form of change has to inevitably come.

Wednesday, February 17, 2016

Millennials may be the best prospects and recruits for owning their own business

Perhaps it is a dichotomy, or merely just a stereotype that has enough fuel to become accepted in the mainstream, but society has already labeled millennials for specific traits that are intrinsic to their generation.  And one thing is for certain for this group that emerged from parents of the 'greed is good' 1980's, and that is that the new largest segment of the workforce is willing to walk from a job if it is not satisfying for them, or where they are unlikely to reach long-term goals in a short amount of time.

And while this assessment may sound harsh, like with all things every thorn is attached to a budding flower.  And since mainstream society and the corporate world are both unlikely to change anytime soon since they are ruled mostly by stubborn elders set in their ways in how things are supposed to be, it makes the millennials extremely attractive to the new economy that is based not on working for others, but instead in working for themselves.


Infograph courtesy of Presto Marketing Group
A recent Deloitte survey found that two-thirds of millennials across the globe plan to leave their current organization by 2020 and one-quarter plan to change companies within the next year. 
One reason millennials, who now make up the largest segment of the US workforce, are driven to job-hopping is that they don't see enough opportunities for leadership development. But there's a second reason behind millennials' restlessness — and it's considerably harder to fix. 
The problem is what Deloitte calls the purpose gap, and it refers to the difference between what millennials want out of business and what business offers them.According to the survey, 87% of millennials believe that the success of a business should be measured in terms of more than just its financial performance. 
So what kind of metrics do they value? 
The important business outcomes that millennials feel their organizations are neglecting include: improving the skills, income, and satisfaction levels of employees; creating jobs; and providing services and goods that make a positive difference in people's lives. - Business Insider
Remember the real rule of business ownership... it is not always about money or the accumulation of material wealth that is the carrot we dangle in front of a recruit, but rather it is about relationships and building your message to what each prospect can achieve through the business in the pursuit of their desired goals for themselves, and not always in what you or I want believe those goals should be.

Saturday, September 19, 2015

Got Karatbars? Fed rate announcement is followed by even more shortages in gold supplies

On Sept. 17, the Federal Reserve made the announcement heard 'round the world as the U.S. central bank signaled to the world that the global economy is in such dire straits that they couldn't even raise interest rates by .25 from their current levels of zero percent.  This immediately sent shock waves to other central banks as just a day later, calls for new rounds of money printing took place out of the Bank of England, the ECB, and even banks from Australia, with suggestions of even greater policies such as negative interest rates and ending cash altogether being included in their commentary.

Yet for those who have been reading this blog, or other alternative financial sources, the banks have not been blind to what the media has been telling the general public regarding the economy, the dollar, and the overall global financial system.  And as we have seen over the past few months, accumulation of available gold and silver has led to massive shortages that now even threaten to empty the GLD fund which backstops the paper gold markets.
While the drain of COMEX gold and silver Registered inventories continues as demand for physical precious metals increases, JP Morgan experienced a 45% decline of its Registered Gold Inventories in one day.  JP Morgan now only has a lousy 10,777 oz of gold remaining in its Registered gold inventories.  
Basically, JP Morgan holds 1/3 metric ton of gold in its Registered inventories.  This is the reason we are seeing the paper gold ratio on the COMEX above the 250/1 ratio.  If we look at the COMEX warehouse table below, we can see just how little Registered Gold remains on the exchange: - SRS Rocco


Graphic courtesy of SRSRocco

This report represents all the gold in all U.S. banks backstopping the paper futures contracts, and has helped skyrocket the paper to physical ratio to 250:1.  Which of course then begs the question, how long can the Comex or GLD survive when it has 250 demands on every ounce of gold it claims to hold in the vaults?

Knowledge of this weakness in supply, and the continuing failure of the global financial system has spilled out into the retail sector as premiums of gold coins from dealers is growing precipitously as demand has now reached historic all-time highs.

HSBC described gold demand from the U.S. Mint as being at a “historically high level” which indeed it has been. The bank report that the Mint has sold 322,000 ounces of gold in the first half of this month.  
Of this, only 91,000 ounces were made up of Gold Eagle coins - the most popular coin with retail investors - although some market participants believe that some of the stock may be being accumulated by large institutional investors.  
And yet, demand for gold eagles is still very strong with demand in Q3 set to dwarf demand of the previous two quarters. With two weeks still to go, total Gold Eagle coin sales have been a staggering 352,500 ounces. - Goldcore
So why has there been a run on gold (and silver) not seen since the 1980's by primarily bullion banks, and consumers who are in fear of what is coming?  An interesting interview by the Dollar Vigilante Jeff Berwick may shed some light on this, and point towards the complete collapse of the dollar as the culprit.



So with dealers, banks, and even sovereign mints running out of supplies at the same time prices are soaring in the physical markets, what alternatives and options are available for you to not only protect your wealth, get it out of the banks and outside the dollar, while at the same time having the power to keep it stored in a physical asset like gold?

The answer lies in Karatbars




Buying gold through Karatbars is one of the easiest things on the net.  In fact, the business model of Karatbars is to sell gold in affordable quantities, such as 1, 2.5, and 5 gram increments, and allow customers to get into the metal without having to shell out $1200+ for a single ounce coin.

And as added perks to signing up with Karatbars, as a customer or affiliate, you can have the power to move your money into a free e-wallet that functions just like an offshore bank account, and is outside the authority of the banking system.  From there, you can take your fiat currency in any denomination... dollars, euros, yen, etc... and purchase physical gold which can either be delivered directly to you, or stored for free at one of Karatbar's vaults.

Additionally, any gold that you buy can easily be sold back to Karatbars, or any metals dealer, and if with Karatbars it is then exchanged for currency that is uploaded to you through a pre-loaded debit Mastercard which is connected directly to your e-wallet.  And as we know, MasterCard is recognized in nearly every country around the world, and usable in any currency that accepts it.

But perhaps the best feature with Karatbars is their affiliate program, where you can earn money off commissions from getting others to sign up and become a customer or affiliate.  Not only do you receive commissions from their purchasing of physical gold, but you also earn commissions from anyone who buys a commission package, with that money going directly into your debit MasterCard when you have enough units to cycle.

Imagine the ability to earn the money in which to buy your gold savings simply by purchasing a commission affiliate package one time, and then getting others to sign up and do the same thing.

How many businesses or entrepreneurs can build an infinite business with spending less than $400 of their own money?  And there is never a mandatory requirement to buy beyond what you desire, on your own schedule.  And there is nothing to lose, because you're using money (paper dollars) to buy gold (physical money) and in the end you don't lose a thing.



The global financial system, along with dozens of respected economists, are telling us that now is the time for the end of our current form of money, and the beginning of the transition into a new monetary system that is expected to be backed by gold.  And with banks, governments, and even Harvard professors mandating that central banks have no choice but to eliminate cash from usage by the people to stave off collapse, will you wait until it is too late to make a decision on how you will protect your wealth, and be able to function within the coming new monetary system?

To learn more about Karatbars, you can contact the individual who sent you this article, and click on their referral link to open a free account and begin buying, or building your own gold savings or business with the company of the future.

Monday, October 15, 2012

Government bailouts and Fed QE is solely about creating more wealth for the rich

Those animated bears are back, and this time they are breaking down how the government bailouts, along with Federal Reserve QE policies, are solely about making more money for the rich.  It is greed, theft, and a destruction of the American monetary system at its finest, while Uncle Sam simply keeps the bread and circuses of welfare and entertainment flowing to dull people from ever seeing the destruction.





This animation shows pure and simple that the credit crisis, trillion dollar bailouts, Federal Reserve actions are built to enhance the rich and major corporations, keep people spending money they don't have, and drain the last vestiges of true wealth from the economy and American capitol.

Tax the rich?  Like the meager fines placed on big banks for theri billion dollar fraud schemes, people like Warren Buffet are happy to pay a few million in a PR move to hide the fact he earned billions of of your taxes.

Tuesday, October 2, 2012

NerdWallet breaks down the history behind the Forbes 400 richest Americans

NerdWallet is a company that provides information and resources for consumers that focuses on customer relationships in the market.  Through their web portal, they strive to invoke new ideas using fundamental principals in investing, finance and economics.

Recently, NerdWallet created an infograph of the Forbes top 400 riches Americans with their related demographics and industries through which they accumulated their fortunes.  With a net worth of $1.7 trillion, these 1%ers invested or built the largest industries which helped grow America to the #1 spot in world economies.

The Forbes Richest AmericansVia: NerdWallet

For more on NerdWallet, their current and past articles on finance and economics, you can go to their website to read and search daily and archival information.