I sincerely hope you’ve enjoyed the special “Countdown to Confiscation” series this week.
Will the U.S. government, under Barack Obama, “pull a Cyprus” and order U.S. banks to seize funds from our accounts? Will we be made to suffer a sudden “wealth tax” with a large chunk of our bank accounts sent to the Internal Revenue Service based on some trumped up sequester-type financial crisis?
The likelihood that this can happen increases with each passing day.
In fact, this is something I first began sounding the alarm about over five years ago.
On January 15, 2009, in an article titled, “Will Obama Nationalize U.S. Private Pensions” I wrote: “It is possible that some brainless members of the U.S. Congress may have introduced a bill that seeks to nationalize pensions, but I hope that it will not be given serious consideration, even by the liberal Democrat majority now in control.”
I went on to say: “If it does happen, your best way to conserve your assets would be already to have them placed offshore.”
Unfortunately, it looks like my prediction is coming true …
Over the last year, I’ve written several times about the Obama administration discussing a proposal to nationalize all $17 trillion in American private retirement plans to help deal with our gargantuan federal deficit.
The President’s latest proposal, the government-controlled retirement account system, called MyRA is nonsense. It’s a plan to create an IRA scheme in which all workers not covered by employer 401(k)s would be automatically enrolled unless they opted out. Automatic monthly paycheck deductions would be invested in U.S. Treasury bonds — in other words, loans to the government.
The real agenda behind Obama’s proposal isn’t helping people save more for retirement. MyRA lays the groundwork for the eventual transfer of the bulk of the nation’s private retirement savings to government control.
To the point, the greedy Obama’s bureaucrats are poised to grab your bank and retirement accounts under the phony promise of “saving” them for you — and they have plans in place ready to use when they manufacture a crisis to justify their next round of theft.
Of course, under the PATRIOT Act, the government already has the power to confiscate all of your bank account funds without notice if the Feds claim you may have a tenuous connection to “terrorism” — as the bureaucrats broadly define it.
But there are ways you can escape this money grab. You can protect and preserve your wealth and assets — if you act now.
One way is to …
Move Your IRA Offshore Now
One way to protect your IRA or other retirement plans is to move your plan out of the jurisdiction of the United States and locate your assets and their management offshore, or you can start a new retirement plan offshore.
You may be thinking “that’s a lot easier said than done,” but the truth is, if you wish to protect yourself and your retirement from an overreaching government, there are reasonable plans now in place waiting for your adoption.
You can move your retirement plan offshore to safer places with the highest yields available.
To accomplish this, there are three steps to take:
- The process begins with your Individual Retirement Account, established at a financial institution that offers these tax-advantage savings plans.
- All plans are required by law to have a U.S.-based custodian. However, cash and assets within the account can be located outside U.S. jurisdiction.
- Finally, once your funds are transferred offshore, you have multiple options: you can self-direct the account or have a professional oversee it, it’s your choice.
It really is that easy.
The Spending Orgy Continues
President Obama admires the “European model” of socialist government. He seems to admire the bankrupt social welfare states with high taxes, central planning and deficit spending and debt — the very failed system that destroyed the economies in Greece, Spain, Italy, Portugal, Ireland and, yes, Cyprus.
To finance the socialist dreams of his radical administration, President Obama still needs ready cash to keep happy his special interest banking pals, Wall Street golfing buddies and trade unions.
Yes, the president has a cooperative Federal Reserve producing tens of billions in “quantitative easing” to prop up our weak financial system, but Obama’s unceasing spending demands more and higher taxes.
Only a Republican majority in the House of Representatives stands in his way — exactly where the U.S. Constitution says all revenue measures must originate.
Just one annual federal budget has been adopted in the last four years. The president says he has no interest in a balanced budget any time in the next 10 years. The battle in Congress is joined.
Think about this man in the White House. Using his “emergency powers,” his pen and his phone, do you think President Obama would consider imposing a sudden Cyprus-type withholding tax plan?
Friends, if there was ever a time to safeguard your finances, this is now. Think of those poor, ignorant, hypnotized souls watching a peaceful ocean recede just before they drowned in the floodwaters of a crashing tsunami.
Now is the time to move your retirement plans offshore, to open an offshore bank account, and to create an offshore escape plan — before it’s too late.
This week, Ted and I have shown you ways to shield your wealth from a government that we believe will soon loot bank and retirement accounts.
If there’s one thing I want you to understand from our special series, it’s this: The time to get your financial house in order is before the looting begins.
We just completed a Special Presentation that gives you a blueprint showing how to escape from America, when things do collapse. We show you how to protect your family, your wealth and your assets before the confiscation — and the chaos that comes with it — begins.
You can watch our video presentation right here.
As you’ll see, by preparing now, you will not only have protected yourself before the looting begins, but you will have the personal power to expand your wealth while the rest of America sinks into poverty.
Of course, my fervent hope is that none of us ever have to execute our emergency exit plans.
But if that day does come, be absolutely certain that you will be prepared.
Bob Bauman JD
Editor, Offshore Confidential
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