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Move Your Money Out of the Country… and Soon

US Dollar with sun glasses

In the post bag this morning there is this article sent to us by 'Without Borders', team of the Casey Research group, which we hope that you find both interesting and informative as it is all about moving your money out of the country.

Things are getting uncomfortable for individuals and corporations looking to deposit their money in tax havens around the world. Just recently, Congress introduced the so-called “Stop Tax Haven Abuse Act,” which is designed to do away with the privacy afforded by doing business or investing outside the U.S. and to eliminate or reduce tax benefits available offshore. Simon Black and Fitzroy McLean, ex-CIA operatives, investment pros, and globe-trotting editors of Casey Research’s Without Borders, weigh in with their no-holds-barred opinion on the topic

We are patriots. We have proudly served in our country's military, have extended a helping hand to its public sector, and have plowed our entrepreneurial enterprise into its once fertile soil. We love America, but these days, America does not love us back. It takes without giving and squelches free enterprise. These days, America is no longer the land of the free, especially when it comes to the market.

Just look at the headlines, seemingly ripped from the pages of Atlas Shrugged: Unconscionably large bank bailouts. Punishing regulations and tax requirements. An arctic business climate. Government money bombs. Riots and protests. Slowing trade. Protectionist rhetoric. Demonized corporate executives. Even pirates hijacking cargo ships. One can guess what will happen next.

We predict the next several years will usher in larger, more obtrusive governments, resulting in a decline of personal liberty and financial privacy. The world will become increasingly polarized between two groups: those who consider government intervention a great idea, and the rest of us who happen to be sane.

As such, you can bet your last falling dollar on some absolute certainties: bank nationalization is a given, at least de facto if not de jure; taxes are going up on those of us with any money left; the Fed’s money blitzkriegs will spark a blaze of inflation; and financial privacy will be a thing of the past in the United States.

The obvious and necessary solution is to position one’s finances outside of the United States, and to do so now, while the narrow and finite window of opportunity is still open.

To be clear, evading (or even avoiding) taxes at this point is not a wise move, given the size and scope of the ever-growing IRS. But there are significant advantages to expatriating your capital now:

For starters, you will actually have control of your own money. Yes, in certain instances you’ll be obliged to tell the IRS exactly where it is and what you’re doing with it, but no government agency will have the authority to reach into your overseas pocket and freeze or expropriate (read: steal) on a whim just so Team Obama can give it away to pay for someone else’s McMansion.  Plus, when exchange controls are implemented and Americans are forbidden from wiring money overseas, your capital will already be secured in another jurisdiction, where you will be free to do what you want with it.

Secondly, you will no longer have to assume the risk of insolvent banks or go through the hassle of petitioning the government to get your FDIC insurance bailout. Many overseas banks are far better capitalized than those in the United States, and some of them are in jurisdictions with constitutionally protected banking privacy.

Lastly, and probably most importantly, moving money overseas gives you a last chance at diversifying out of the dollar, which, in a very short period of time, will barely be worth the paper on which it's printed.

Bank and Brokerage Accounts

Opening a foreign bank or brokerage account is easier said than done; the United States government severely restricts where and under what terms you can open a bank account, invest in a fund, or engage in other economic activities that facilitate the protection of and access to your assets. As the signatory on an overseas account, you are required by law to inform the federal government on Treasury form TDF 90.22 by the end of June each year. Ostensibly, this has been done in the name of fighting money laundering, but it has the effect of severely restricting your freedom of financial movement.

Many foreign banks simply won’t work with you… don’t worry, it’s nothing personal. Uncle Sam has been beating them down since the Reagan years, and between Qualified Intermediary rules, tax treaties, and the USA PATRIOT Act, Sammy gives himself a lot of regulation to bury the opposition with.

There are some jurisdictions that are still excellent banking centers; Switzerland may have rolled over, but Panama, Uruguay, Singapore, and the United Arab Emirates have thus far ignored the call for “greater transparency” (read: government access to private finance).
Some individual banks, like Credicorp and Global Bank in Panama, or Banco Itau in Uruguay will not work with U.S. citizens anymore, but there is still opportunity with the hundreds of remaining banks in these jurisdictions.

Similarly, opening a foreign brokerage account is a shrewd move, not only to move your money overseas but also to have greater access to financial markets. Remember when world markets tanked on Martin Luther King Day 2008? If you were a U.S.-based investor and wanted to sell, sell, sell, you had to wait a full 24 hours until the markets opened after the holiday on Tuesday morning. If you had been invested with global depository shares through a foreign brokerage, you could have saved yourself several points and gotten out in time.
We would suggest looking at Verdmont Capital and PanaAmerican Capital in Panama, and Saxo Bank in Denmark.

Bullion Storage

If you have gold, it would be highly beneficial to get it out of the U.S. – stat. If you do keep it in the U.S., your only truly reliable and private option is to store it yourself in a safe that you bury in your backyard.  Otherwise, move it out of the U.S. now before Team Obama pulls an FDR and takes your gold from you.  

At the moment, gold is not considered a monetary instrument by the U.S. Customs and Border Patrol, so there is no legal requirement to declare your bullion upon leaving the United States. Some countries, like Taiwan and Uruguay, require you to declare gold in excess of a certain value to customs officials upon entry.

We recommend Panama, Austria, Switzerland, and the United Arab Emirates as locations to store bullion; one particular favorite is a location called Das Safe ( in Vienna where anonymous safes start at 400 euro/year.

Real Estate

It might sound counterintuitive after the subprime debacle, but real estate is a sound option for moving money outside of the United States; there are zero reporting requirements. It's your business where you own property, and (so far) no one else's. You can purchase property in a private way by setting up a corporate structure to hold the assets so that they're not in your name (Panama is an excellent jurisdiction to set this up), and although there are many places with depressed real estate markets, there are also many with good growth potential: in Latin America, we would recommend Panama, Colombia, Uruguay, and Chile. In Europe: Slovakia, Albania, and Poland. In the rest of the world: Lebanon, Hainan Island (China), the Philippines, Cambodia, and New Zealand.

Time is of the essence – start looking for your safe haven now.


Without Borders is Casey Research’s monthly newsletter dedicated to finding the best global investment opportunities and the most beautiful places to live and do business.

If you are interested in specific strategies for moving money overseas and diversifying out of the dollar --whether it's overseas bank accounts, real estate purchases, commodity currencies, or offshore brokerages -- Fitzroy and Simon tell you the safest and most robust places to park your dollars while they’re still strong and widely accepted… places that will keep your personal economy strong even as the dollar and the U.S. economy suffer. They investigate outstanding investment opportunities, companies, and stocks you won’t hear about on CNBC as well as lucrative overseas deals that they themselves scope out and test.

If you want to think, invest, and live outside the box, test Without Borders now risk-free – via our 3-month trial subscription with 100% money-back guarantee. Click here to learn more.

Got a comment – then let us have it!

If you are new to investment in the precious metals sector then you may wish to subscribe of our FREE newsletters regarding gold stocks, silver stocks and uranium stocks, please click on the links.

PS This is what a TRILLION Dollars looks like:

Trillion dollars

There is a man standing at the left side and those pallets are double stacked.

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Reader Comments (20)

So realistic, but how un-American.

The Caseys lost their patriotism ;)
I couldn't agree more with them from a European perspective.

March 29, 2009 | Unregistered Commenterde Graaf

"in Latin America, we would recommend Panama, Colombia, Uruguay, and Chile. In Europe: Slovakia, Albania, and Poland. In the rest of the world: Lebanon, Hainan Island (China), the Philippines, Cambodia, and New Zealand."

I think I would rather go down with the ship. Kind of like those four football players fishing off Florida. The only one that survived was the one that stayed with the boat. The rest swam off into shark infested waters, kind of llke most of the countries mentioned above.

Of course, if you write a letter titled WITHOUT BORDERS, you would encourate people to expatriate.

March 29, 2009 | Unregistered CommenterBruno in TX

de Graaf has got it backwards. The unamerican and unpatriotic one is Obama

March 29, 2009 | Unregistered Commenterfrank yoast

the dimensions of the trillion stack would be helpful.

March 29, 2009 | Unregistered CommenterRV QUINN

Not quite correct Frank. Its all about personal perception. Obama actually thinks he's doing the right thing for his voters/country! And basically thats true from a political viewpoint. But common sense and good monetary policy however, it is not...

Casey is right. And I was just stabbin' some punches on the shoulder, just to stir it up a bit. Its a sensitive issue for some Americans. And rightfully so.

March 29, 2009 | Unregistered Commenterde Graaf

Many moons ago in the UK I remember restrictions being imposed on the movement of cash, a limit of £50 per person was imposed on holiday makers for instance, in an attempt to curtail the amount of cash leaving the UK. I just cannot remember if it was regarded as a success or not. However, a lock down on the dollar would mean that we are stuck with it and could be rendered powerless to act if the dollar implodes.

March 29, 2009 | Unregistered CommenterGold Prices

“When you see that trading is done, not by consent, but by compulsion – when you see that in order to produce, you need to obtain permission from men who produce nothing – when you see that money is flowing to those who deal, not in goods, but in favors – when you see that men get richer by graft and by pull than by work, and your laws don't protect you against them, but protect them against you – when you see corruption being rewarded and honesty becoming a self-sacrifice – you may know that your society is doomed.” - Ayn Rand

March 29, 2009 | Unregistered CommenterJ

Ayn Rand's quotation resembles Venezuela. I never heard of her work but I found a nice short biography hear:
I want to know from which book the quotation comes.

March 29, 2009 | Unregistered CommenterToni

The quotation is from Rand's classic.."Atlas Shrugged"

March 30, 2009 | Unregistered CommenterMike


Thanks for the quality of your comments they are really appreciated.

April 1, 2009 | Unregistered CommenterGold Prices

Was that a first of April joke?

There is something wrong with the timing Gold Prices... ;)

April 1, 2009 | Unregistered Commenterde Graaf

It is stated that: "Gold is not considered a monetary instrument by the U.S. Customs and Border Patrol, so there is no legal requirement to declare your bullion upon leaving the United States." My question is: "How can one takes it with him and go through airports with all the check outs and metal detectors? When it is detected will they still allow you to take it with you and continue your flight?" Sorry for the delayed questioning.

April 9, 2009 | Unregistered CommenterEmtea

:D You're not actually want to strap it round your waist now are you? That would look like you are smuggling it out of the country. Not a good plan Emtea.

What you should do, is move the bullion out by means of secured transportation. Just hand it over to a professional safeguard and file/declare the gold at customs.
Casey means there is no legal right for the authorities to hold you from bringing gold out of the country. If the law changes to FDR style, this means you cannot export monetary instruments out the US without paying large sums of taxes or penalties. It could even be forbidden again. This is not the case yet.

Just don't forget to report/declare that you export it out of the country, otherwise you will be put in jail for smuggling. Make sure it is on your name for safety reasons. You don't wanna lose your value don't you?

April 9, 2009 | Unregistered Commenterde Graaf

Follow-up on the previous email.
1) Could an example of secure transportation and and professional safeguard be given for Europe?

Can an example of transaction be given?

Can the case be expressed clearly? How can I learn more?

Thank you

April 9, 2009 | Unregistered CommenterEmtea

You should ask Casey I think. They are familiar with their work and should be able to help you step by step in the process since they wrote an article around this.

I'm not familiar with moving gold from the States into Europe, since I live in Europe. The safekeeper 'Das Safe' looks like a decent storage dealer.

Try them, they could also be able to help you with your request. Its the service they might supply you when becoming a client.


April 9, 2009 | Unregistered Commenterde Graaf


Please change this sentence: ‘We would suggest looking at Verdmont Capital and PanaAmerican Capital in Panama, and Saxo Bank in Denmark.’

CHANGE IT TO: ‘We would suggest looking at Saxo Bank in Denmark.’

Thank you!

April 10, 2009 | Unregistered CommenterGold Prices

I only got to this website via
the Escape America ezine. And as
a UK citizen I hope I can see both
sides of the coin. Yes Obama is seen
as the saviour you Americans had
'bad cop' George Bush And now
you've got 'good cop' Obama.
I wouldn't have voted for him but
from a non political stance he seems
a really good man with an impossible
task ahead of him. All the jobless/homeless/
hopeless of America are looking for
him to bail them out and at the same time
looking for someone to blame.
Shades of 1930s Germany look for the
baddie in our midst. In this case
those who are not desperate or broke.
Hey but just know this when Gordon
Brown pledged British tax payers would
cough up £8 billion for the next 20
years for UNBORN African children thats
when I blew my top.... UNBORN? Charity
begins at home.
I live in Oxfordshire and even as I write
British tax payers are dying of
certain cancers because they're being
denied the diverted funding that should
rightfully be theirs to pay for the drugs.
The money is being stored for future use
outside of Britain.

PS:Please answer this question for me:
What is patriotism? Is it my country
right or wrong? Or is it blind obedience
aka fanatical nazism/communism etc. Or is
it the over used phrase freedom and justice
for all though there is very little evidence
of it in this day and age.

April 18, 2009 | Unregistered CommenterCassie Brandom

Hi Cassie,

In my view, patriotism is; being around when your country needs you. Provide assistence and endure hardship for the common good of the nation. This means sacrifice.

In the case of many (richer) Americans that means paying higher taxes to support the new 'green' manufacturing investments and healthcare reform.

The problem however and thats where the resistance in the US is coming from; Is in the spreading of wealth by taking on so many issues that have been ignored in past administrations, but are actually necessary to bring America back on its producing and savings/solvency feet in the long run. Former and current policies were/are unsustainable.

They have serious issues/dillemma's that need addressing on the other side of the pond.

Delution of the dollar currency is inevitable. The US will inflate their way out of debt with the burden of higher prices in the coming years from price inflation.

This US policy is one of the reasons they critisize Europe for spending less on stimulus. But Europe ain't crazy. They don't want to lower buying power when most of their nations followed a decent monetary policy since the formation of the Union, with the exception of a few countries like Spain etc. Europe has other issues and don't need a currency crisis. ;)

April 18, 2009 | Unregistered Commenterde Graaf

While it may be your country right or wrong it is NOT your federal government right or wrong.

April 24, 2009 | Unregistered CommenterBill

>>Obama actually thinks he’s doing the right
>>thing for his voters/country!


June 18, 2009 | Unregistered CommenterBill

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