The $64,000 question now, is whether the powers that be can continue to play out the hard ball scenario to protect the dollar that we recently wrote about here: What they Don’t Want You to Know about the Euro Crisis. Whilst a reasonable analyst would conclude that they cannot – meaning that the US dollar is doomed long term – it’s looking like they can support it for a while yet. Germany, France, the UK and Switzerland are playing along.
Expect to see attacks on other currencies, particularly the yen. And, for the many readers whom I know like the Aussie dollar (AUD), I am none too confident in its future. I can tell you I wouldn’t put my money on a currency controlled by a government that just decided to kill the goose that lays the golden egg, by proposing a stiff extra tax on its mining industry.
- So you might want to keep short term funds in US dollars, always being aware that there will be ever more restrictions on what you can do with them. (In the wake of the HIRE Act, several countries, most notably Mexico, have introduced further restrictions on the use of US dollars in their banking systems)
- You definitely need a multi currency bank account, in a neutral private bank in a neutral country which is not likely to introduce exchange controls. A multi-currency account gives you flexibility to switch currencies quickly when the need arises, as it definitely will. You’ll find plenty more of information on some of the best offshore private banks within our Members Area. US citizens in particular should be aware that there are numerous signs of further restrictions on export of capital from the USA. So act now rather than later.
- You should keep substantial wealth in gold… physical gold bullion that is. Again, if you need independent advice on how to invest from people who know what they are talking about, Q Wealth is your source of information. Gold bullion is a non-reportable asset.
- And if your right to privacy is a concern to you – as it should be – hold all your assets through corporate entities like LLCs, corporations (IBCs), offshore trusts or foundations. There are good, inexpensive options out there that can keep your assets one step removed from you and anyone who wants to take them away from you, whilst allowing you to retain control, completely legally of course. Reporting requirements depend on your country of residence and citizenship.
- Finally, we live in turbulent times, and if you like what you read in Q Wealth, there is no substitute for coming to one of our live events. This will give you a chance to meet experts like Peter Macfarlane, Frank Suess, Richard Cawte and Thomas Bolther. For further details on upcoming events, visit our Offshore Events page.
Our next event will be in Ireland in late September. There is just time to get in on the early bird bonuses, enabling you to attend for well under $1000. For this event we are offering several different modules, depending on your level of existing knowledge, and the amount of wealth you manage. VIP Mastermind members receive a 50% discount on the event fees, so there’s another thing to consider.
What if you are not yet a member of Q Wealth? At just $87 for a year’s membership that gives you all these benefits, we think it is well worth your while join today. We will help you sort the wheat from the chaff by introducing you to the best offshore banks and international private bankers who can help you achieve your asset protection goals.
However, if you don’t have $87 to invest in a membership, there’s also a free option: try our five part Secrets of the Super Rich course absolutely free and without obligation.
Whatever you do, as the title of this article suggests, RIGHT NOW is the time to start protecting your assets internationally if you haven’t already done so. Don’t put it off!