From the Publisher's Desk
September 2010
"The Subprime Crisis will not affect the economy overall."
- US Federal Reserve Chairman Ben Bernanke, June 20th, 2007
Are you being left behind?
Happy Days are here again...
In spite of the hundreds of billions in bail out money, new
legislation, including the latest banking bill to save us from
ourselves [see - "Law Remakes U.S. Financial
Landscape",] plus all the government hyperbole and brouhaha about
the economy coming back, things ain' t what the used to be.
US residents continue to suffer huge unemployment levels, never before
seen home foreclosures and face a likely double dip
recession/depression.
The dollar has taken a nose dive as I write these words. In my
opinion, the long term outlook for the dollar, and the
pound sterling, is still down, down, down. One way government is
going to deal with their bloated deficits and over spending for
decades, is to print more money, which means - inflation and
your money to continue to be devalued.
Remember the US dollar has lost 40 percent of it's value during the last
decade alone. Since the start of the US income tax, it has lost 98% of its value!
However those who have been astute about their financial matters and
moved a good portion of the capital offshore in a multi-currency
offshore bank account have availed themselves to opportunities that
99% of the American public are by law, NOT allowed to partake
within the US banking system.
Hope springs eternal! It's never too late to get started, but time is
of the essence. Most Americans have been brainwashed into thinking
that it's against the law to have an offshore bank account, and or
offshore banking is for millionaires only.
Not true on both accounts. As of this writing there is no law that
forbids Americans from having money and a bank account outside the
USA. There is, however, a law that requires Americans and US
residents to report such offshore bank accounts if you have more than
ten thousands US dollars or the equivalent in your offshore accounts
in aggregate.
Further, and perhaps more important, for as little as US$750 as your
opening bank deposit, [plus setup fees,] you can have an offshore
company and a multi-currency company bank with an ATM card and
excellent Internet banking. In addition to your multi currency
accounts, this bank allows one to buy and sell stocks, bonds, gold,
silver and also offers one the opportunity to invest in special IPO
offerings this world renown bank offers from time to time.
Since we moved our former company bank account from Switzerland to
Hong Kong last year, we can't recommend the bank we're using more.
This world renown bank is the best bank we've used in forty four years
in business bar none, and we've bank with all the so-called best
we might add!
Whatever you do or don't do, you really need to take a good hard look
at how things are brewing in your neck of the woods, then get off your
duff and do something positive to protect yourself and your loved
ones. Having this setup in Hong Kong might not solve all your
financial problems, but it can protect you and your assets for the
future.
[Editor's note: Full details can be obtained simply by
emailing us and placing "HK" as your subject heading."]
See you next issue
Shamrock
"The people never give up their liberties but under some delusion."
- Edmund Burke, 1784
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