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Anyone have experience in the area or have an account/accounts? At this point in my life, I don't have enough capital to make it worthwhile, but as I create more wealth for myself over the coming years, I'd like a safe/secretive place to store it. Being philosophically libertarian, cheating the federal government appeals a great deal to me. Half of the world's wealth flows through these offshore banking centers and it seems stupid to not take advantage of the free market/tax competition. I like the idea of destroying the federal monopoly of banking/taxation/wealth.
I think people were putting it in Lichenstein before a whistleblower exposed everyone however, barring any more whistleblowers, that would be a good bet... I guess any country (especially if the country is poor and has no other source of income) where the banking system is controlled by a monarchy-type government...
I think people were putting it in Lichenstein before a whistleblower exposed everyone however, barring any more whistleblowers, that would be a good bet... I guess any country (especially if the country is poor and has no other source of income) where the banking system is controlled by a monarchy-type government...
the monied interest is way too powerful for whistle blowers to rat out the tens or perhaps hundreds of trillions of dollars sitting in offshore accounts. God I love free markets. Even with the expansion of government, big brother, the nanny state, coporatism, socialism, ect, you cannot destroy free market competition. Certainly you can drive it underground, but market forces are natural laws that no man or government can do anything to stop.
We've come to the point where not paying taxes is a revolutionary and patriotic act in and of itself. How did this nation move so far away from the radical liberalism/individualism it was founded upon? Was it Lincoln and the War of Northern Aggression? Was it the establishment of the federal reserve? The 16th amendment? The New Deal? Expansionist foreign policy of the late 1800's early 1900's? Policing the world? The war on communism (a system of government doomed to fail anyway)? The war on drugs?
The Ministry of Homeland Security is ramping up efforts to find "tax-dodgers" in other countries. The whistle-blowers you heard about were PAID to be whistle-blowers. It will only get worse.
You can do this through a resident of another country, someone you trust, perhaps a family member who lives there (do you trust family members? I don't!). Canada or the Caymans would good places to work on.
Unbeknownst to most Americans, there is a very large contingent of American ex-pats living on Central and South America. They are outside the jurisdiction of the US, even though they retain their citizenship. That might be worth looking into, also.
The important thing is to keep US federal tax rates low.
Tax rates in most other countries are much higher. People seek to evade US taxation through ignorance and/or greed.
At the same time, however, US policymakers seem hell-bent on policies that repel productive investment: to name a few, suicidal monetary policy, the excesses of the so-called Patriot act, regulatory constraints on new productive investment, and an arcane, closed-minded banking system when it comes to serving internationally active small and medium-sized business.
I get around filling out the form for sending money out of the county because I own land and a business in Honduras. The form is part of the Patriot Act.
At the same time, however, US policymakers seem hell-bent on policies that repel productive investment: to name a few, suicidal monetary policy, the excesses of the so-called Patriot act, regulatory constraints on new productive investment, and an arcane, closed-minded banking system when it comes to serving internationally active small and medium-sized business.
Not to mention onerous transparency requirements for companies wishing to trade on U.S. stock exchanges. There's a reason why London gets so many more big-ticket IPOs from global companies.
The Forex company that I'm involved in is working on offshore banking in Panama as part of their asset protection program.
-Angel
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