Tuesday, October 15, 2013

Daily Briefing For Tuesday, October 15, 2013

You Can Run, But You Can Also Hide.

I guess we need to revisit this topic again - the notion that going offshore to hunker down is a good idea.  I have friends who continue to explore the option.

Antigua announced recently it will hand you a passport for a "donation" of $250,000.  For that price, you get the ability to call Antigua home in the event the good ol' U.S. of A. turns into a coast-to-coast EBTs-are-down-at-the-local-Wal-Mart riot. 

I discussed this back in July.  I reached the conclusion that

"In the end analysis, being prepared to bolt off shore if things here got really bad would require a tremendous amount of resources.  And in the end, I'm not convinced you would come out ahead, given the fact you'd be a guest in another country, subject to their laws and whims."

If you have a bunch of money lying around, you're squared away in every other aspect of your preparedness, and you like the idea of having a second passport, then by all means go for it.  On my scorecard, however, I don't see how this is a viable strategy for most of us.

And If You Run, Will You Be Hit With The Eurozone Household Savings Tax?

What would you do if one day you woke up to find that 30% - or even just 10% - of your bank accounts had been taken by the government overnight?  Sounds crazy, I know.  And yet your friends at the International Monetary Fund are toying with that very idea.

Keep this on your radar.  Because you don't have enough to do.

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