Political and Geographical Diversification of Assets

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SteveR's picture
Status: Bronze Member (Offline)
Joined: Dec 4 2008
Posts: 71
Political and Geographical Diversification of Assets

Doug Casey, the highly-respected investor and champion of freedom, is big proponent of policial and geographical diversifcation of assets - or in other words, keeping some of your wealth outside the ever-reaching grasp of the U.S. government.  This is not about hiding income - this is about protecting wealth that has already been earned and taxed.

Some of his suggestions include opening a foreign bank account, forming an offshore business, and storing bullion in a foreign safety deposit box.  Although he has praised GoldMoney and Perth Mint Certificates, he did not specifically mention them in his latest Conversations with Casey.

Very few of my economic heroes seem to emphasize storing wealth outside the U.S. but it does seem rather important, given the trust level that I have with our government.  The frustrating part of Doug's suggestions are that they are so difficult to implement - yet in the back of my mind, I know that he's probably right.

I was wondering if anyone here has any specific ideas or suggestions of how to protect wealth from our increasingly-overreaching government.

Doug Casey on Protecting Your Assets: http://www.caseyresearch.com/displayCwc.php?id=15

ao's picture
Status: Diamond Member (Offline)
Joined: Feb 4 2009
Posts: 2220
Re: Political and Geographical Diversification of Assets

The Sovereign Society has much specific information about protecting wealth from the government by offshore investing and diversification.  The problem is, off shore investing, no matter how legal, presently draws a big red bullseye on your back for the IRS and other agencies to home in on.  You need to be meticulously prepared and scrupulously honest in what you do and even then, the burden of proof may be on you.  Also, if you look into it, such things as Perth Mint Certificates are not very good deals.  Look at the entry and exit charges, annual fees, and the fact that your certificate represents gold held halfway around the world by a government that is even more problematic than ours.  Hard to get your hands on if you really need it. 

strabes's picture
Status: Diamond Member (Offline)
Joined: Feb 7 2009
Posts: 1032
Re: Political and Geographical Diversification of Assets

If you have > $100k you want to park offshore, look at safewealth services...they have the best wealth protection plan in the world in my view.  

I think your distrust of the US govt is well-founded, but you also need to be worried about the basic insolvency of the US banking industry.    

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