dollarvigilante.com / Jeff Berwick / March 26th, 2014
Dear Vigilantes,
It has never been more important to take control of your own financial affairs than it is today. At The Dollar Vigilante we are deluged daily with news of governments worldwide cracking down on their tax slaves.
Whether it be the capital controls of FATCA (The Foreign Account Tax Compliance Act) severely limiting American citizens’ options for banking worldwide, numerous other countries doing the same, bank bail-in legislation being enacted throughout Europe, Canada and Australia or the “Entry/Exit” Initiative between Canada and the US (we will be writing about this today) in which the two countries will share information and be able to track exactly how much time Canadians have spent in the US. If they spend more than 180 days per year, as many “snowbirds” do, they will automatically be deemed a US resident and have to file US taxes and have their worldwide income taxed by the US.
Italy has already enacted capital controls and limited daily withdrawals and this will continue throughout Europe and the Western world as total debt, worldwide, mostly spurred by government debt has risen an extraordinary 43% from $70 trillion in 2007 to $100 trillion in 2013.
Sadly, 99% of people are completely unaware of what is about to happen to them. And, worse, 99% of government registered financial advisors are also unaware of what’s going on, still “investing” their clients funds almost totally inside their own country and “investing” in government bonds of their bankrupt government or stocks that are at record highs and not valued for the massive economic, financial and monetary strife to come.
To put it simply, you will be shocked how many incredibly rich people will lose almost everything this decade.
The new rich, after the collapse, will mostly be those who hung on to what they currently have.
And this is the key… and the trick. Hardly anyone even knows how to do that.
