Category Archives: Other Tax & Money Havens

Safe Deposit Box for Wealth Storage ?

In late June 2015 the Deputy Finance Minister of Greece Nadia Valavani revealed to Greek television that the government and banks had agreed that people would not be allowed to withdraw cash from safe deposit boxes for as long as the capital controls were in place.

Bank Safe Deposit Boxes

Earlier this year, on 1 April 2015, Chase bank in the US advised clients who rent safe deposit boxes from them that there would be some changes in their policies, by giving them this message,

Notice the the following condition:  “Contents of box: You agree not to store any cash or coins other than those found to have a collectible value.

Picture Courtesy “Safe 01” by Корзун Андрей, Wikimedia Commons.

 

The banks are convincing people to put their wealth into cash, and their cash into banks in the form of deposits. They’re being assisted by many of the world’s governments, which are increasing the level of legislation that controls what individuals are allowed to do with their own wealth.

After this is completed, the bank customers are “sitting ducks’ for confiscations of their cash holdings. These will of course be implemented by the banks, and in order to maximize the amount that will be taken, it will be necessary to force people out of other forms of wealth storage and into bank deposits.

And even in a confiscation situation, banks would be reluctant to raid safe deposit boxes, as they would a) have to force them open, and b) have to deal in some way with the non-monetary contents of the boxes, such as documentation and fine art. To do so would glaringly expose the banks as plunderers (assuming the theft of deposits had not already achieved that end).

In the future, we can expect to see more steps taken by banks and governments to squeeze people out of other forms of wealth storage like precious metal, fine art, jewelry, etc. and to deposit the wealth as cash in the banks.

The EU, US, Canada, and several other jurisdictions have passed bail-in legislation the last few years, opening the possibility for confiscating the cash deposits of bank customers, if they deem this necessary.

Believe it or not, you just wake up one morning, and your cash deposits have been raided.

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Countries where you easily can buy arms

In addition to The United States, here are four other countries where you can own arms:

125px-Flag_of_Switzerland_(Pantone).svg

Switzerland

The Swiss are not only allowed to have guns, but many citizens were traditionally required to own one and go through training on how to use it.

Switzerland’s laws require having a permit in order to be able to buy certain firearms, and these are attainable relatively easy.

Swiss flag image courtesy of Wiki Commons

 

Czech Republic

Czech Republic is another place in Europe where you relatively easy can get a permit for gun ownership, also for most foreigners who live there.

There’s no limit to how many firearms you can own and you can carry a concealed firearm.

 

Estonia

Private possession of a large variety of guns is allowed for Estonian residents under a license. These can be obtained for any number of reasons, including self-defense.

The government maintains a record of individual civilians licensed to possess firearms and ammunition, but private sale and transfer is allowed, as is concealed carry.

 

Paraguay

Most types of firearms can be legally purchased in Paraguay, but a license is required and a central registry of gun ownership is maintained.

Even as a tourist you can legally buy weapons in Paraguay.

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Russia launch competitor to SWIFT

Putin ordered the launch of the “Double Eagle project” because the US blocked a payment from the Russian embassy in Astana, Kazakhstan in March 2014.

Moskow by night

The payment was directed to SOGAZ Insurance Group through SWIFT.

This made Putin furious and he initiated the Double Eagle Project, an international money transferring system named after the Russian Double Eagle gold coin.

Moscow by night courtesy of Wikipedia

SWIFT

SWIFT (Society for Worldwide Interbank Financial Telecommunication) system is the global banking system’s postal system. SWIFT has more than 10,000 members in more than 200 countries, and handles more than 15 million messages daily.

SWIFT is based in Belgium, and subject to EU law. However, the U.S. government claims legal authority over all SWIFT transactions denominated in U.S dollars, even if those dollars never enter a U.S. bank account.

So when European banks used SWIFT to facilitate dollar dominated transactions between Iran and third parties, the U.S. fined those banks billions of dollars for violating U.S. sanctions, even though no money passed through the United States.

Russia launch competing money transfer system

When the United Kingdom, called for Russian banks to be ejected from SWIFT during the height of the Ukraine crisis, the Russian bear was alerted.

Late 2014, Russia announced that they will launch an alternative to SWIFT by May 2015. The new international money transfering system would nominate transactions in roubles, with conversion to and from U.S. dollars at either end.

The liberation of fiat money movements.

A Russian international money transfer system would be an alternative global economic and financial system beyond U.S. rules and Western sanctions.

Russia has joined the New Development Bank, an alternative to the International Monetary Fund and the World Bank. The participating countries, Russia, South Africa, China, India and Brazil, comprise more than 3 billion people, 41.4% of the world’s population, and account for more than 25% of global GDP.

China Merchants Bank now issues the world’s #2 credit card.

Russia and China have both built up their gold reserves.

A new trans-Atlantic cable to allow independent worldwide communications is under development.

Importers, exporters, and investors who are citizens of the EU and US are also likely to make use of the Double Eagle system , instead of SWIFT, when it suits them.

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Tax & Money Havens launch Alumni Group on Linkedin

This is a private group. To request membership go to the group here, click Join and your request will be reviewed by the group manager.

marsascala-malta-300x212

The purpose of Tax & Money Havens Linkedin group  is to function like alumni forum for the following areas,

– Offshore companies, offshore bank accounts, offshore jurisdictions. foundations and trusts.

– Compare jurisdictions world wide on taxes, bank secrecy, corporate entities, capital protection, storage of bullion, second passport, etc.

Marsascala, Malta   picture above courtesy Best of European Union, is a town located at the Marsascala Bay on the southeastern part of the island of Malta.

– Advice that guide you to through turbulent times. Pros and cons of the most interesting offshore locations. Overlooked places and how to use them in an intelligent way, and more.

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Countries with No US Extradition Treaty

Flag map of Cuba

The best countries for Snowden, the following countries have extradition treaties but do not always comply with US requests: Bolivia, Ecuador, Iceland, Nicaragua, Switzerland, Venezuela, and Zimbabwe.

 

Afghanistan Ethiopia Nepal
Algeria Gabon Niger
Andorra Guinea North Korea
Angola Guinea-Bissau Oman
Armenia Indonesia Qatar
Bahrain Iran Russia
Bangladesh Kazakhstan Rwanda
Belarus Kosovo Samoa
Bhutan Kuwait São Tomé & Príncipe
Bosnia and Herzegovina Laos Saudi Arabia
Brunei Lebanon Senegal
Burkina Faso Libya Serbia
Burundi Macedonia Somalia
Cambodia Madagascar Sudan
Cameroon the Maldives Syria
Cape Verde Mali Taiwan
the Central African Republic the Marshall Islands Togo
Chad Mauritania Tunisia
China Micronesia Uganda
Comoros Moldova Ukraine
Dem. Republic of the Congo Mongolia United Arab Emirates
Cote d’ Ivoire Montenegro Uzbekistan
Cuba Morocco Vanuatu
Djibouti Mozambique the Vatican
Equatorial Guinea Myanmar Vietnam
Eritrea Namibia Yemen

 

Snowden could have taken the steps we recommend on our site and publications on the best countries to obtain a second passport, open an offshore account, and more. Internationalizing is a strategy for anyone who does not want to be under the total control of the whims of one particular government – especially one that is desperate and bankrupt.

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