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Special EU & EURO Warning – December 14, 2011Offshore Jurisdiction Comparison 
Guatemala CorporationGuatemala Bank AccountAnonymous Master Card and VisaHigh Limit Anonymous Offshore Visa & MasterCardAndorra Private Banking Swiss Forex and CFD Trading AccountFOREX and FUTURES Bank Account for BrokersForex Professional Broker Trading Accounts Offshore High Risk Merchant Accounts
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Introduction – As you can tell from reading the news things are getting worse and worse in the USA and Europe. This article will however focus on the USA but those of you in the EU and Canada be advised it can happen there too.
The Fears – As things plummet the USA government in their overall wisdom may seek to invoke emergency powers acts to stop what they perceive to be a freefall. This can be all sorts of closures and end of commerce and travel, as we know it. Let us review some of the powers the government has granted itself in the USA.
Travel – The USA is basically a closed country now. One needs a passport to leave by land, air or sea. There is no exit visa but just putting a hold on the passport when scanned accomplishes the same thing – prevention of leaving the country. Airports, boat terminals and land crossings can easily be closed under the emergency powers acts that the government has passed. All they need to do is declare an emergency and then close the country – no one in and no one out.
Bank Closures – The government has the power to declare banking holidays as they call it if they deem the country to be in a state of emergency. They can restrict any and all cash deposits, withdrawals, check cashing, close ATM machines, limit ATM machine withdrawals to say $50 a day and end credit card processing or whatever they want. After there were bank failures in the great depression USA President Roosevelt used his power to shut the banks. Imagine if the banks get shut for two weeks. This would be chaos but don’t you believe in their wisdom, look how good they’ve done so far, surely they can’t be this awful in their decision-making abilities, or can they?
Stock Markets – The Government can close all the exchanges for as long as they want under their emergency powers acts. President Wilson did this in 1914 and it can be done again. During 9/11 the exchanges were closed.
Gold – In 1933 President Roosevelt prohibited the holding of gold other than for jewelry or artifacts and fixed the price to $35 an ounce for many years. The government can also restrict the holding of any currency as well, forcing people to use the banks. Gold hoarding is risky. They could rule it illegal. They could force a fixed value on gold. They could make it burdensome and expensive to redeem it. It is not easy to move around and is a security risk. It is also something of solid value that will always be worth something.
If you believe in holding gold have a safe room built in your home. Put a large safe inside the room, not a gun safe, a real safe with a UL rating of at least 15 minutes for theft. Then keep the gold in the home. During the bank failures of the 1930’s the banks were closed and the employees looted the safe deposit boxes commonly which are not insured at all. So if the banks are closed you cannot get to your gold, which can be a problem. When you look at hoarding gold bullion, coins etc in your home it is not so attractive anymore especially if leaving your home becomes necessary or advantageous.
Gold can be buried in the ground and hidden inside walls. In the event of fire it can melt and run down into the ground thus not recoverable. If buried or in the walls it can be found with a metal detector. You can bury ball bearings in the yard to mess up a metal detector but then someone may wonder what it is you are trying to hide and look pretty hard. While gold may look good it has its disadvantages especially when it comes to storage and transportation. Also consider that you would be buying the gold at the high price and if the price drops you could take substantial losses.
Martial Law – The Government can place the country under martial law. Confiscate and control highways, bridges, boats, busses, tunnels, freeways, food supplies, water supplies, power supplies and just about everything necessary to sustain life. They getting to your funds and assets may become problematic.
What to Do – Move your bank offshore. That way bank closures will not affect you. Hold your money in several currencies so you are not tied to any one currency. If they close the banks they will probably not close of credit cards and ATM cards. If they did this people would run out of food and gas and then riots would set in. Use the offshore bank ATM cards and credit cards. If it looks like it might make some sense to take a vacation for a few months while the dust settles you will already have your money out of the country and could even stay away if necessary for good.
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*Offshore Legal Associates Law Firm.We have no legal ties or associations with any other law firm or corporation with similar or like sounding names anywhere and should not be so confused with any other entity having a similar or like sounding name.
