“In this episode we interview Jeff Berwick of The Dollar Vigilante and Anarchast. We cover lots of interesting topics from; moving to South America, making your own start-up, protecting your wealth with Bitcoin and others.”
“Perception of Bitcoin now is like of the Internet in 1993. Mt Gox, Tesla and the free market. US government pressuring foreign governments making it harder to get foreign citizenship. Staggering fraud in the banking sector and banker suicides. Crazy Keynsian thinking. Russia and China more free market than the West. Disaster brewing for the West. The move into precious metals stocks.”
“3,000 Americans around the world renounced their citizenship last year. Meet five U.S. citizens who have given up their passports — or are thinking about it — to escape an overly complicated tax code.”
http://finance.yahoo.com/news/expats-ditching-u-s–passports-151127757.html
“Unlike with an American citizen’s home-grown 401(k)s and IRAs, the Internal Revenue Service doesn’t tax withdrawals of principal from an imported Canadian retirement account. ‘If Uncle Sam didn’t give you a tax deduction for your contributions,’ Kristof explains, ‘the U.S. government doesn’t expect you to pay tax on the principal.’ Canadians would owe U.S. taxes on capital gains in their accounts. But Canadians can largely eliminate that liability by liquidating any stock holdings while their money is still under the maple-leaf flag. Some clients take their expatriate status one step further, setting up a work history in the U.S. so that they can qualify for Social Security and Medicare.”
http://blogs.marketwatch.com/encore/2014/02/18/why-canadians-want-to-retire-in-the-u-s/
“Bankers helping customers buy gold bars to store in Swiss bank safes. A wealthy customer who traveled on flights hiding $250,000 in pantyhose to stash in Swiss accounts. U.S. prosecutors say they have evidence like this to support their case that bankers at Credit Suisse Group helped U.S. customers evade taxes on at least $4 billion in hidden assets. People familiar with the talks say Credit Suisse has discussed a settlement of about $800 million. But some U.S. officials are pushing for a tougher line. Eight Credit Suisse bankers have been charged, and all remain at large, believed to be in Switzerland. In all, 14 Swiss banks are under criminal investigation.”
http://money.cnn.com/2014/02/20/news/credit-suisse-tax-evasion.cnnw/
“The IRS wants to collect a large percentage of the prize money awarded by the USOC for medal winners based on the US’s horrible tax policy on wages earned overseas. The US is one of the few nations in the world to tax foreign earnings, a move that has driven businesses away from our shores even more than our insanely high corporate tax rate. And now this terrible policy is taking money out of the thin and worn pockets of Olympic athletes who are representing our nation in the games. Despite the waving of the flag, the benefit of US exposure from the games and the chants of ‘USA! USA!’ that will echo through the mountains of Sochi, the State has but one goal.”
http://lionsofliberty.com/2014/02/07/who-is-most-excited-for-athletes-to-win-olympic-gold-the-irs/
“Canadians often feel slighted by their own government when it comes to the big Washington machine down south. It’s about to get worse, now that the two nations inked a tax-information sharing agreement. The broad deal is one of 22 intergovernmental agreements (so-called IGAs) the U.S. has signed to crack down on tax evasion. FATCA is the U.S. law that requires banks everywhere to pony up information on Americans or face serious sanctions. The sanctions are so bad that virtually every institution or every nation seems to be striking a deal. Indeed, it is not exaggeration to say that banks and countries everywhere are scrambling, trying to appease the U.S. taxing authorities.”
“Record numbers of U.S. citizens and permanent residents are giving up their citizenship or residency. For all the immigrant arrivals the trickle the other direction is increasing. The number is still small, with the ‘published’ expatriates for the quarter 630 for the last quarter of 2013. That brings the total number to 2,999 for all of 2013. The previous record high for a year was 1,781 set in 2011. It’s a 221% increase over the 932 who left in 2012. You can call it a shaming or a public record, but the Treasury Department is required to publish a quarterly list of Americans who renounced their U.S. Citizenship or terminated their long-term U.S. residency.”
When you set up your business properly in the UAE, you can avoid taxes so long as you are involved in international business. It is a significant advantage and many are interested in taking advantage of it. I relocated almost 1,800 companies and individuals in only four years. [..] China and Asia will be leading the way economically in the future, though on the technology front, the US should retain its lead. France is having a hard time and a lot of French are leaving because tax bills are going up to 70 percent. Many French who can afford it are going to Switzerland.”
“In just the last year, giant secured private vaults located in free ports have opened, or are about to open, in Geneva, Hong Kong, Luxembourg, Monaco, Panama, Shanghai, and Singapore. Clients pay monthly or annual fees for secure storage, generally based on the value of the goods they keep there. In addition to the tax advantages, private vaults aren’t part of the global financial system. It’s difficult – and often impossible – for a foreign government to confiscate the goods kept in a private vault. And the information-exchange and asset confiscation agreements that the US and other high-tax countries have forced low-tax countries to sign don’t apply to assets outside the financial system.”
http://www.nestmann.com/the-one-place-they-cant-bail-in