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The Choice is Switzerland Minimize
 
The            Sovereign Society Offshore A-Letter

 

 

Wednesday, September 27, 2006
Vol. 8 No. 193
In Today's Letter:
Comment: The Choice is Switzerland
Offshore: Australian Tax Nazis 
Currencies: Greenback Holding its Own?     
Privacy: Asset Protection: Do it Now!
The Choice is Switzerland

Dear A-Letter Reader:

ZURICH, Switzerland. This commentary is being written on my laptop on the bank of the River Limmat, which flows into nearby Lake Zurich.

We're still on The Sovereign Society's 10-day European Banking Tour, which has included stops in Copenhagen, Vienna, Zurich, and Liechtenstein.

You have to be here to enjoy the breathtakingly beautiful of Swiss Alps. In the past, I have dined at a cafe in a small village nestled so high up in the Alps that snow lay on the ground in the summer. My host and guide in Zurich is Rob Vrijhof, a leading Zurich independent investment advisor, and valued member of The Sovereign Society Council of Experts.

It may have been chilly on the mountaintop, but Switzerland provides a warm and genuine welcome to foreigners -- and their money and investments. The contrast between the treatment we received in Swiss banks, such as Julius Baer, and the mass production mentality of American banks is stark. There are good reasons the Swiss manage over three trillion dollars of offshore assets for investors from every nation on earth -- and a principal one is their open and frank approach to investments and making money. They invented private banking.

At The Sovereign Society we have chosen Switzerland as our number one offshore haven nation. While it is not a tax haven per se, it is the leader in world banking, asset protection, insurance and investments. And all this is available within a shield of financial privacy (and, yes, banking secrecy) guaranteed by law. The Swiss think your business is nobody else's -- a refreshing difference from nosey U.S. officials.

If you haven't yet gotten the message -- Switzerland offers a lot more than cuckoo clocks, chocolate, and cheese. It's a possible second home for your cash and assets. And, after enjoying the cleanliness and friendliness of Zurich, you might even consider making Switzerland your home too.

That's the way that it looks from here.
BOB BAUMAN, Editor

EDITOR'S NOTE: For decades, the wealthiest families have been trusting Switzerland's banks with their greatest fortunes. But you don't have to be a millionaire to bank there. You just need to understand how it's done. Join us at The Offshore Advantage Seminar this November to learn these banking secrets, plus investment opportunities and much more. But hurry!  This Sunday, October 1st is your LAST CHANCE to save on your attendance fee with our early bird discount. Plus, Sovereign Society members receive additional savings off the attendence fee.   Click here to learn more. 

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Offshore

Australian Tax Nazis

 cash their Aussies wonder small this, as such atmosphere an In destination. tax-evading popular most targeted is nation island because suspected especially Vanuatu through operating Australians evasion. tax overseas of guilty automatically folks presume apparently They accounts. bank offshore using any about them tell every demanding police Tax Now be to likely people? rich Bob Bauman, Editor

 LINK: http://www.smh.com.au/news/


 

Currencies

 Greenback Holding its Own?

The housing market is still falling. The Fed is still on hold, while expectations grow about a possible interest cut in early 2007. These drawbacks are up against the supposed vigilant European Central Bank, which is eager to support the euro’s strength. And yet, the greenback remains firm against its European counterparts.

Does this mean a positive consumer surprise (the basic "deflationary boom" scenario) is on the horizon for the U.S.? (A "deflationary boom" happens when commodities going south, while bonds, equities and the dollar heading north.)

Meanwhile, the U.S. stock market is doing quite well. And let us not forget the stock market is a key repository of consumer wealth. It’s a counter to the U.S. housing. The bond market is on fire, which probably is supportive of the buck on money flow (the recent hedge fund debacle may be driving some safe haven cash for others behind the headlines). And we know U.S. corporations are flush with cash. And commodities prices are sagging, which tends to help corporate margins—at least for the users of the stuff. If corporations are doing fine (which is what the stock market may be telling us), it would indicate the U.S. job market will remain resilient...and if the U.S. job market is resilient Mr. U.S. Consumer probably does okay. And that’s good news for the dollar...for now.

Jack Crooks, Currency Director

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Privacy&Rights

 Asset Protection: Do it Now!

In my practice, I encounter plenty of tragic stories where people might have better protected themselves, if only they had foreseen the unforeseeable.

Take John and Dianne. They'd met in college, became engaged and planned to get married in their home state of California.

But tragedy struck before they could marry. Coming home from work one evening, John's car was struck by a car careening down the road, out-of-control. He was killed instantly.

Being relatively young, with no children, and just at the eve of starting their life together, it didn't occur to John and Dianne to worry about estate planning or asset protection yet. And the consequences to Dianne of this oversight compounded her loss and heartbreak. Though she felt sure John would have wanted her to inherit his property, she didn't get a single penny of it. Since he died without a will, under the California laws, the money went to John's parents. And because they didn't approve of John and Dianne's relationship, they didn't pass any of his estate along to her. 

Circumstances like this are never planned for - they just happen. And when they do, we need to pay attention to the lesson: everyone, no matter how young or old, needs to construct a succession and asset protection plan. This should include:

  • A testamentary document (will or trust).
  • A medical power of attorney. This is a document which gives someone you trust the authority to make medical decisions, just in case you can't make those decisions yourself.
  • A living will. This is a document that conveys your wishes to be kept alive (or not kept alive) by artificial means if you are terminally ill and cannot make decisions for yourself.
  • A durable power of attorney. This is a document that designates a trusted family member or friend to make personal and financial decisions for you if you are incapacitated and no longer able to do so.
  • An asset protection plan. Everyone has assets they simply "can't afford to lose." Protect them using the techniques you've learned about from The Sovereign Society-using retirement plans, domestic and offshore annuities, domestic and offshore trusts, etc.  Keep what's yours-don't give it to a sue-happy plaintiff who hired the lawyer only too pleased to try to take away everything you've worked for.

MARK NESTMANN, Privacy Expert & President of The Nestmann Group
www.nestmann.com 

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