What is It? Why Have One?
The first thing to realize when considering offshore banking is that it is very similar to banking down the street. You can view your account online. You can transmit bank wire transfers in and out of your account. Many offshore banks have credit and debit cards associated with the account. In addition, outside service companies offer offshore prepaid debit cards that you can link to your offshore account.
As you know, a local account does not consist of little pieces of paper currency stuffed into a cubby hole with your name on it. Your bank account is simply computer data on the bank’s network that is backed up on servers around the world.
Should you travel to another country on vacation, you will still be able to access your account, withdraw funds, etc. Likewise, your bank account overseas consists of computer code; likely backed up on the exact same global computer network as your friendly neighborhood bank.
So, it does not matter whether you bank down on the corner or on the other side of the planet. Either way, your money is in the same place: on a global computer network.
Offshore Banking Safety
With regards to bank safety, keep in mind that there are international financial standards that banks must meet. That is, before a bank can accept depositors from abroad it must pass certain financial stress tests. For example, before a bank in Belize, Nevis, Cook Islands, Switzerland or the Cayman Islands can transmit wire transfers in US dollars, it generally needs to obtain a US correspondent bank. Obtaining a correspondent banking relationship carries certain requirements. For example, it must prove to the US institution that its financial strength ratios comply with strict international standards. Moreover, it must continuously pass these tests in order to maintain the relationship.
Additionally, there are rigorous government regulations within each of these jurisdictions. One hard and fast requirement is that banks must maintain substantial capital reserves in order to insure depositor safety. Moreover, regulators continuously audit the banks. This helps insure that the banks remain in compliance and to uphold the reputations of these popular financial centers. There are restrictions on the number, amount and security required for bank loans and investments. There are quarterly reporting requirements. Plus, bank officials must pass intensive background checks before they can obtain a directorship with the institution.
Standard & Regulations
There is an international regulatory framework for banks. These are standards to which all banks worldwide must comply in order to transmit funds overseas. This includes the Basel III. The Basel III is a detailed set of standards. The Basel Committee on Banking Supervision developed these standard for the industry. Its purpose is to solidify and unify the regulation, supervision and risk management of the banking industry around the globe. The intent of these measure is to do the following;
There are international standards for the Liquidity Coverage Ratio and risk monitoring tools that banks must have in place. It accomplishes this by making sure that a banking institution has a sufficient amount of unencumbered high-quality liquid assets (HQLA). These are assets the bank can easily and immediately convert into cash. The institutions can then turn to private markets in order to meet its liquidity demands for a 30 calendar-day liquidity stress scenario. There there is the Net Stable Funding Ratio requirements. These standards require banks to keep a secure funding profile for both the short-term and the long-term.
Banking Offshore Is Common
Offshore banking is very common. Over 2.7 million US citizens reportedly have offshore accounts. Offshore banking is not just for the top 1%. Banking offshore is available to anyone and everyone wanting to take advantage of the various benefits. Many foreign banks offer low deposit minimums. Thus, they make for a plausible option to anyone with a desire to set up an account offshore.
Moreover, the benefits of having an offshore bank account go way beyond alternative investment opportunities and hiding your assets. These benefits affect the average person and can greatly improve your daily banking experience. In terms of security, accessibility, convenience, and peace of mind, it would seem that offshore banking is the ideal solution. Gone are the days of thinking of foreign banking as some distant, idealistic tax evasion scheme to hide from your domestic government. On the contrary, it is legal, moral and ethical when done properly. Moreover, it is a real, viable, and sustainable option available to all willing to take advantage of it.
Banking offshore offers currency diversification for your savings. This is very useful for maintaining a safe, stable long-term investment portfolio. Very few domestic banks offer options for holding diverse currencies. Holding assets overseas in different currencies allows one to take advantages of jumps in currency fluctuations. After the 9/11 disaster, many people opened Canadian bank accounts and converted US dollars to Canadian dollars. Many made a handsome 30% profit as the US dollar tanked and the Canadian one strengthened. So, holding various currencies can diversify investments, offer a higher return in certain market conditions and lower risks.
It allows for diverse flow of income. It is also pertinent to consider that while the U.S. was in a recession in 2008, Asia’s market was booming. Limiting your business domestically restricts you. So, you may want to reap the benefits of economies doing well while your domestic economy may not be. In fact, you may consider establishing more than one foreign account. As such, you can ensure yourself that you are taking full advantage of the favorable international foreign banking laws. In Switzerland, for example, the banks are also the investment management firms.
Swiss banking comes with some of the top money managers in the world. So, a financial planner in the institution can suggest a portfolio that offers a great combination of growth and safety. The US limits the number of trades in which a day trader can participate. Trading offshore removes this cap.
Better Interest Rates
Banks in the U.S. typically offer very low interest on deposits. For example, at current market rates, if you deposit $1,000 USD in January, you will make only $10 interest for the year. Some may feel satisfaction, or even thrill, to make any amount on their savings. However, when you compare that to some international banks, you can find some significantly higher interest rates on your deposits offshore. We are talking enough interest to make you set up an account just based on this benefit alone. Locations such as Australia, Switzerland, Netherlands, and France may not only offer great interest rates on your deposits, but they were also listed as home to some of the safest banks worldwide.
Move Money Quickly
Along with diversifying your assets, having even a small offshore account allows you to move quickly. Offshore account holders have the flexibility to move their funds, if needed. For example, you may be in a situation where asset protection from lawsuits become necessary. In addition, you may have regular transactions on international business deals. Both of these fundamentals are invaluable on their own.
Along these lines, we also know that domestic banks often keep very limited funds on hand for very large withdrawals. This makes it much harder to readily access all of your money quickly. The challenge is that here are numerous situations where this sort of limitation can be lethal in terms of asset protection. Why is this important? Here’s why. What if you cannot withdraw your funds quickly? That is, you may have a lawyer in the line behind you who wants to freeze your account until the bank hands it over.
So, having an account offshore ties the hands of your opponent. You can move your money quickly and/or have an offshore trustee step in to protect you.
Perhaps a more common misconception of offshore banking is hiding assets from the tax man. In reality, this is rarely true, as offshore banks are typically transparent for tax purposes. That being said, there are some ways to maintain limited privacy when utilizing an offshore account.
Any American relocating $10,000 USD or more, at any time, must report it. However, it is possible to have an account with under $10,000 USD without reporting it. You do, however, need to report if you are the signatory on a foreign account. Nonetheless, we highly recommend you speak with your tax advisor.
Safest Banks Are International
A more secure banking experience. The federal reserve system that backs U.S. banks is, in turn, backed by the most debt-ridden country on the planet. Moreover, top finance publications have released lists of the safest banks worldwide; none of which were national U.S. banks. Absolutely none. Take Global Finance Magazine, for example, They release a list of the 50 safest banks every year. The shocking thing is it does not mention any big American bank. As of this writing, the only American banks on the “safest” list are three small farming banks, they list at numbers 30, 45 and 50.
According to Global Fiance, here are the countries with the safest banks:
Of the above countries, only Switzerland and Luxembourg will open accounts without the need to travel to the country. The minimum deposits are substantial. The banker will eventually come to visit you in person.
Internationally, however, it is easy to find banks in low debt countries that don’t (and won’t) gamble with your money. Consequently, they are able to keep more cash on hand for your withdrawals. When you put it in terms of investing, where would you would want park your money? In a company swimming in cash? Or one drowning in debt? Countries such as Switzerland and Luxembourg have strict central banking regulations. They implement “checks and balances” on all bank accounting practices. Many other offshore banks and countries have similar systems. These systems help to ensure people who are looking to bank offshore can do so safely and soundly.
Additionally, many asset protection experts say, when you bank offshore you are less attractive to lawsuits domestically. That is, if you tie up a chunk of your assets in offshore accounts they are harder for your opponent to seize. This may not be a concern for everyone; but keep in mind it is more difficult for someone to freeze your accounts in a snap if they are sitting in foreign banks. For long-term security, experts recommend holding your account in an offshore company and/or trust. Holding funds in these tools do not only give privacy. They can also offer substantial legal protection if a court order demands repatriation of the funds.
Setting Up an Offshore Account
This will most likely come as no surprise. It is becoming more and more difficult for Americans to set up offshore accounts. This information is highly pertinent. So, it is essential to ask an experienced professional to find the best bank for you. That is a service that our organization provides. We know which banks will accept foreign clients. We are keen on which banks we feel are the strongest and safest and which offer the most attractive services.
Some things to look for:
Many foreign banks have strict privacy laws and do not disclose account information. Tax reporting, however, is a different issue. International financial institutions are responsible for filing certain forms for US residents and citizens. Doing so helps them comply with US tax regulations. The responsibility also lies with the account holder to report it properly. When setting up an offshore account you will also want to keep basic tax laws in mind. It is important to note, by the way, this is meant to be helpful information only and not tax advice. It is subject to change. So, first seek advice from a licensed accountant. That being said, it is recommended that Americans keep the following in mind.
Making the Right Decision
Aside from all of that, you also need to bear in mind that no one bank is right for everyone. While some people need highly capitalized banks with easy access to withdrawals, others may look for “asset protection” benefits.
Contrary to popular belief, offshore banking isn’t about evading taxes or hiding your assets. It is more about building your business and securing assets from vexatious litigation. That is, many people simply establish offshore accounts to benefit from favorable international regulations.
Safer Offshore Than Onshore
As time goes on, in fact, it seems the question is less “Is foreign banking for me?” and more “Is domestic banking right for me?” This is not some fluke. This is the direct result of a shaky banking system. It is a system backed by a government in debt; a government that is burning through the people’s money.
Meanwhile, the federal reserve is in shambles. If you think otherwise, compare it with equivalent agencies in countries that are not deep in debt. Certainly the question is no longer about whether offshore banking is safe. The question we should be asking is this. Which secure offshore bank we should use to our personal, legal, business, and financial benefit?
Offshore banking allows for increased financial privacy. Many individuals and companies around the world take advantage of these confidentiality benefits. US residents can enjoy the same financial rewards as these people and businesses by banking offshore.
Protecting your money from divorce, lawsuits and legal battles is another reason. You can open offshore bank accounts in the name of offshore companies to provide maximum privacy and security. Offshore bank accounts are not just for the wealthy. There is a distinct rise in the number of Americans who put their money into private financial accounts. The purpose of this writing is to provide understanding and information on the subject.
Confidentiality of an Offshore Bank Account
Most offshore bank account jurisdictions have strict confidentiality rules and regulations. These are in place to help ensure that the identities of their depositors and investors as well as the related transactions are confidential. That is, the casual probe or prying eye will not be able to delve into your financial affairs. While this confidentiality is almost legendary, it is not possible to guarantee absolute privacy and anonymity. All financial institutions the world over have an implicit legal obligations. As such, they are to report and comply with investigations into suspected serious criminal activity. This, of course, includes terrorism, money laundering, or the fruits of the illicit drug trade.
However, in the vast majority of instances there is no compelling
criminal accusation. So, depositor information is guarded in a jealous fashion. These offshore bank account jurisdictions are designed to provide the utmost in confidentiality, and serve to judiciously protect and safeguard depositor information. This high level of confidentiality is especially noteworthy as it relates to protecting assets from domestic litigation. For example, civil matters such as divorce or contested estates are daily battles in the courts.
It is not in a bank’s interest to divulge confidential or depositor information. Thus, they have traditionally only done so reluctantly and with certain, rigorous tests that the requesting government agency meets. Any semblance of leaks or breaks in confidentiality would serve to break the confidence of other potential account holders. As such, they would stand to lose a great deal of the banking business.
Even deeper and tighter levels of anonymity and confidentiality are readily available. One can enhance privacy through asset-holding vehicles such as International Business Companies (IBCs) or Offshore trusts. These tools offer mountains of protection compared to simply “opening a bank account.”
The goal of anyone looking to open one or more offshore banking accounts should be this. To strike the appropriate balance between asset protection, anonymity, security, and accessibility it is important to have guidance. Be sure to get a hold of a consultant to find the right solution for you.
Additional Information About Offshore Banking
Popular jurisdictions for offshore bank accounts can be found in various parts of the world. However, it is very important to form an offshore company to own the offshore bank account. The jurisdictions that offer the most privacy for the owners of an offshore company are not necessarily in the same jurisdiction as the offshore banking account provider. One may drive a Mercedes automobile. But that car will not have Mercedes tires. It will more likely bear Goodyear, Firestone, Continental of Michelin tires.
Likewise, you will want to choose the jurisdiction with the best legal tools. Then you will want to choose the jurisdiction with the best financial institutions that meet your needs.
For example, you can have a company in the island of Nevis and a bank in Switzerland. Nevis company law offers maximum privacy of ownership. Switzerland offers the strongest combination of bank safety and financial privacy. It is critical to establish the right combination for your specific needs.
Do What the Rich and Informed Do
It is widely known that diversifying your financial portfolio is the right way to go. Putting your money into stocks, mutual funds, index funds and real estate are only a few options for the average investor. But if all of those investments are in the USA, they can all be pulled down the same sinkhole. In the event of another US financial collapse investments can shrink to a fraction of their original value.
What if there were other investment options?
What if there were more ways to invest, safeguard and diversify your financial portfolio? Moreover, what if you had the added bonus of having the utmost confidentiality of your investments?
That is where offshore bank accounts come in.
To prove just how substantial the offshore account market is, over $32 trillion dollars have been placed in offshore accounts. Savvy investors realize that the US is not and has not been the “go to” place to secure their money. Actually, as far as secure banks are concerned, the US ranks poorly on the list of the world’s most secure banks.
As we have said above, according to the Global Finance list of “The World’s 50 Safest Banks 2015,” the US ranks #30, #45 and #50 on the list of the world’s safest banks! The tiny farming banks, AgriBank, CoBank and AgFirst are the only US banks that made the list. The banks that most US citizens use for the finances, Chase, Citi and Bank of America are nowhere on the list.
Makes you think…
Making less interest on your money than the annual inflation rate erodes it. Taking risky chances investing blindly in the stock market is hardly a way in which you can reach your financial goals.
The Dying American Dream
Chances are you work really hard every day. You may own a business, pay the bills and act in a financially responsible fashion. The money you have left over and save (and attempt to invest at the mercy of the stock market) is your nest egg. That is your retirement, and your dream to a better life.
At any time, greedy lawyers may freeze your bank accounts render your funds inaccessible. Perceived issues with the IRS, divorce, unpaid medical bills, child support issues or any judgment against you can result in having your bank accounts ripped out from under you.
Even marrying and potentially divorcing has proven to result in financial disaster, that many do not recover from. Why? Because all of your assets may be in the US. As such, they are visible and susceptible to judgments and confiscation, leaving you in the poor house.
Ending a marriage is emotionally painful, yes. But it also devastates people financially. Divorce proceedings can take years to conclude. One can squander tens of thousands or even millions of dollars. Later, it can leave you with a mere fraction of what you have built. Being financially conscious of this fact provides yet another reason.
It is another reason to allocate some of your money to an offshore account within strong legal tools. Therein, you can keep it out of harm’s way.
Opening an offshore account gives you the freedom to keep your money private and not susceptible to domestic moochers.
Positive Financial Outlook
The media has commonly referred to offshore accounts as “tax shelters” or “tax havens.” In the past, the IRS did not heavily scrutinize money invested offshore. Because there were so many advantages to investing money offshore. The IRS has now made it harder for those looking to seek financial benefits—and the IRS wants its share.
In 2009, the congress passed the Foreign Account Tax Compliance Act (FATCA). It stated, as before, that US citizens living abroad need to file their taxes with the IRS. What was new, however, was that financial institutions abroad needed to reveal their US clients who bank with them. The country got most of the news in this regard was Switzerland. The Swiss Bank Account had, and still has tremendous notoriety. Switzerland is a great country in which to invest or save money. It is known for banking safety and a plethora of investment options. These regulations turned out to be a godsend. That is because it is almost foolish for someone to accuse a US person of offshore tax evasion. When the bank they use is obligated to report, tax evasion is much less of an issue. Thus, it makes compliance by US people that much easier.
There are dozens of other countries, in addition to Switzerland, to invest your money.
Please note that it is perfectly legal to bank in offshore accounts. US citizens need to report their offshore profits to the IRS. This a simple layer of due diligence for you to do during tax season. But also note that CPAs and attorneys who understand offshore banking tax regulations can help. Those well-versed in these new laws and will walk you through the simple reporting process.
Keeping all of your money in the US banking system nowadays is an outdated, unsafe and uniformed way to invest. Why have your savings at the mercy of a fraudulent, corrupt, rigged system?
Opening an offshore account is not difficult. However, there are new laws and hoops to jump through, as well as the number of offshore banks who do not accept US, Canadian or Australian depositors. So, it is highly recommended to seek a company that is experienced with the ins-and-outs of offshore banking.
Are you interested in finding out more? If so, we are here to help. There is a consultation form on this page that you can complete right now. Plus there are numbers for you to call to speak to an experienced consultant. Feel free to take advantage of these opportunities and reach out to us for help. 206-2518
The 5 Best Reasons to Open an Offshore Bank Account
The top 5 reasons for an offshore bank account are follows:
All of these reasons are the basic foundations of a healthy financial portfolio. There’s nothing new about this information. BUT, start to pair the basic elements of your personal finances with the lawsuit-happy climate. Then look at the state of the world today. In that light, the 5 main reasons why offshore banking is so popular will make much more sense.
“If there’s one word I want to leave you with today, it’s this…Glocal.” -Natalie Keener from the movie Up in the Air
Top 5 Reasons for Offshore Banking
1. Provide Asset Protection
The US has only 4.4% of the world’s population. Shockingly, however, it has 80% of the world’s attorneys and 96% of all lawsuits in the world. Like millions of Americans, you are exposed to the risk of lawsuits every day. For example, you are exposed each time you get into your car and drive. Every time you take on a new customer you potentially expose yourself to a lawyer’s claws. Every time someone walks across your property, with your permission or not, it can trigger a nasty legal battle.
Keep in mind, human beings are the ones who write the laws. It is not some fair and just force in the sky. Also remind yourself of the occupation of those who write the laws. Politicians. Most of whom are lawyers. And when they write the laws, do you think they write them for or against benefit of their own profession? So, what we have to assume is this. Whatever stilts the laws in the favor of a lawyer getting his or her hands in your pockets, just shy of public mutiny, is the way the legislature has written the laws. Lawmakers did not write the laws with “fairness” as the main intent. Most laws are primarily written by, and for the benefit of, members of the legal profession.
We had a formerly wealthy client who was absolutely battered by a series of lawsuits. He was a member of the board of directors at a bank. One of his employees, in his main business, recommended the bank to a customer of his. Our client’s employee did not mention that our client was also a director of the bank. When the bank failed in the real estate crash his customer sued our client for fraud.
They sued him because of his employee’s inadvertent failure to let him know of our client’s position with the bank. His insurance policy refused to defend him because the lawsuit included the word “fraud.” The bank paid him nothing for his position. However, the California Supreme Court just affirmed a $2+ million judgment against our client. Fortunately for him, we put an asset protection plan in place.
After five years of fighting, he opted for bankruptcy. He had just proudly put his daughter through college and had supported his wife, son and ailing mother. Not only did the attorney serving as bankruptcy trustee strip him of everything not tied down. He also sued his wife, children and mother. He sued them for any support they had received from him during the prior four years.
Yes, the bankruptcy trustee sued his daughter for the money her father paid her for college, housing, food, etc. He was furious. Absolutely livid. Is it “fair” that they can sue his daughter personally for the amount her parents paid toward her education? Perhaps the right question, is, “What ups the odds that lawyers get their hands in someone’s pockets?” Asking that question will often tell you the way the law was written. Oh, by the way, the lawyer acting as bankruptcy trustee got one-third of the spoil.
Don’t Rely on Insurance
The exceptions written into today’s policies are tantamount to the fine print of a bait and switch scam. We have seen it repeatedly when clients call with woeful tales. Attorneys can often collect three times the damages plus attorneys fees. They can do so if they can convince a Robin Hood judge that there was an inkling of fraud. As a result, they will often throw in a line or two about fraud in the lawsuit, legitimate or not.
So, regardless of your profession, one certainty is this. Plan on uncertainty when it comes to who will sue you next. Open an offshore account. Hold the account in an asset protection trust or company. This combination can provide you with a way to keepsake your money. You can sleep soundly at night knowing the turbulent legal landscape will not affect you.
2. Asset Diversification
What if someone sues you and the lawsuit immediately freezes all of your US bank accounts? What money would you use to defend yourself? How would you pay your bills? We have an associate of the company who is a contractor. Out of the blue, a state agency came and arrested him and six of his employees. Thereafter, they froze all of his bank accounts; all for a minor workers’ compensation insurance violation. They literally had no idea they had done anything wrong.
He made millions of dollars per year. However, he did not even have ready access to the money to bail himself out. It goes without saying he did not even have the resources to hire an attorney to defend him. US judges do not have the authority to put the immediate clamps on money in accounts in other countries. This is especially the case if the bank does not have corresponding US branches; more so if held in a proper offshore trust.
Having some money offshore gives you power to prevent someone from squishing you by the press of a thumb. It can help prevent a legal enemy or overzealous official from falsely accusing you. Without this defence, they could suddenly pull the rug out from underneath you, forcing you to fall at their mercy. It puts you in control and helps keep you in the driver’s seat of your own hard-earned cash.
Additional Investment Options
On another note, you may already be ahead of the financial curve. You likely are if you are seeking investment alternatives and better ways to manage your money.
Major financial players such as Warren Buffett, George Soros, and, Dr. Michael Burry (Founder of Scion Capital, LLC) were a few of the only predictors of the 2008 US housing failure. They have been expressing warnings of the next Great Depression and collapse of the US dollar. They currently say it is looming, but they don’t know when.
You may already know that Buffett and Soros have been taking cash out American Banks for a number of years. The investment bankers have not learned much from the greed and fraud they perpetrated on the American people. Moreover, they will expect
yet another financial bailout. This time, there may not be a bail out by the US government because the US government may have insufficient money to give.
America is the country with the most debt on the planet. The debt figure is the highest ever accumulated by any country in the history of the world. In fact, there are websites where you can track the US Debt in real time. Experts predict that that amount of money could not even be paid back in 40 years. Most of us must face the sober reality that we lack an ISDA Trading Agreement so we can be privy to the secrets of the big boys. So, the next best thing the rest of us can do is to safeguard their money in an offshore account.
3. Sounder Banking Systems
On Global Finance’s most recent report, called, “The World’s 50 Safest Banks,” no big-name US based banks even made the list—not one. Out of 50 banks the United States only has three on the list. Three small agriculture-based banks ranking at #30, #45 and #50 were the only US banks that made it. There is a phrase some use in conjunction with the big US banks to describe the impending doom that is forecasted to occur: Too big to fail. This could not be further from the truth.
Once the banks start to become insolvent (not able to pay debts) due to the ridiculously high debt and having nowhere to turn this time for a government bailout, the money in your investments will be lost. Gone.
The banks will use your savings to pay its own debt. Just like what recently happened in Greece, the banks will close. Thereafter, you will not be able to take money from the ATM because there will be no money left. One may mistakenly say, “Yeah but what if I put my money over yonder and the same thing happens?”
That is where we come in . We research the strongest, safest banks in the world and make most recommendations based on their economic data. Banks don’t just jump from the “safest in the world” list to insolvency in a nanosecond. But what if one holds a fortune in bank not on the “safest” list? Then what if the bank is in the most in-debt country in the world? Now, that is a cause for real concern.
Danger Ahead: Take Cover Offshore
Many major financial players and economists warn of the dollar collapsing. This collapse is due to the astronomical amount of debt, the pull of oil prices on our economy and the inflation rate. According to Thomas Metcalf, economist, stockbroker and contributing writer for the online finance website, Zacks, “The Federal Reserve’s target rate for inflation is 2 percent. When inflation fell below its target and showed no signs of picking up, the Federal Reserve and many economists expressed serious concern. With the rate of inflation falling, you cannot help but ask what happens if it drops below zero. That is economists’ concern.”
Put your money in a safer haven, which is not in a large, US bank and not a US stock broker, often tied closely to US banks. Diversify a portion of your investments in a safe, legal, offshore account in one of the safest banks on the globe.
4. Decreased Vulnerability
Major financial players such as Warren Buffett, George Never put all of your eggs in one basket. If you do, you significantly increase your chances of losing your money and investments. So, if you are in an occupation where you may be sued at any time, it is a good idea to move some assets to a safe place where they cannot be connected to you. If you are married, if you are single and have a family or if you are just a progressive thinker, putting money offshore is a very smart way to minimize your financial vulnerability.
Indeed, we love and care for our family members. However, that does not mean that we need to use our inheritance to pay off all of their debts once they pass on. The surviving family members
are responsible for paying for a deceased loved-ones’ debts with the assets of the deceased. Allocating family money in an offshore account, held by an offshore trust, can shield your birthright from being wiped out after the death of a loved one.
5. Peace of Mind
Do not go down with a sinking ship.
Doug Casey, financial author and free-market economist made the keen parallel between the (fall of the) US and the fall of the Roman Empire. Casey said, “We can’t evade the second law of thermodynamics, which holds that entropy conquers everything and that over time all systems degrade and wind down. And that the more complex a system becomes, the more energy it takes to maintain it. The larger and more complex, interconnected, and interdependent it becomes, the more prone it is to breakdown and catastrophic failure. That includes countries and civilizations.”
Or, we can quote the famous music group, Blood, Sweat and Tears, “What goes up must come down.”
Global + Local = “Glocal”
There is a 2009 movie starring George Clooney, titled Up in the Air. In it, a young, ambitious, go-getter, Natalie Keener, played by Anna Kendrick mentions the term “glocal.” Anna’s elders, including Mr. Clooney, are perplexed by this term. Anna then explains that “glocal” is new terminology used to describe the merging of both the global and local marketplace.
Glocal demonstrates that the world is smaller due to technology, free trade and overall business acumen. Either jump on the wagon and expand your horizons, or get left behind. Having a glocal mindset in this day and age is not cutting edge anymore—it is necessary. Offshore banking provides very important and sound ways in which to broaden your investment horizons.
There has been far too much trickery, fraud, manipulation and thievery by the US banking institutions. The same is true for the stock market players and the Federal Reserve. We are facing a combination of the abovementioned financial issues both domestically and ‘glocally.’ This makes it the perfect storm for another financial collapse.
Call the number or complete inquiry form on this page for support and help. Do your own research. Think for yourself and think outside the box—and—think outside the country. Do not become a victim of the US banking system. Diversify and hold some of your funds in an offshore bank account.